Model Paper 2

11th Standard

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 100

    Part-A

    Answer all the questions

    11 x 1 = 11
  1. Which one of the following is not a branch of accounting?

    (a)

    Financial accounting

    (b)

    Management accounting

    (c)

    Human resources accounting

    (d)

    None of the above

  2. _______________is concerned with identification, quantification and reporting of investments made in human resources.

    (a)

    Management Accounting

    (b)

    Human Resource Accounting

    (c)

    Cost Accounting

    (d)

    Financial Accounting

  3. The business is liable to the proprietor of the business in respect of capital introduced by the person according to

    (a)

    Money measurement concept

    (b)

    Cost concept

    (c)

    Business entity concept

    (d)

    Dual aspect concept

  4. ASB was constituted in India in the year of __________.

    (a)

    1977

    (b)

    1978

    (c)

    1979

    (d)

    1976

  5. While preparing the trial balance, the accountant finds that the total of the credit column is short by Rs.200. This difference will be

    (a)

    Debited to suspense account

    (b)

    Credited to suspense account

    (c)

    Adjusted to any of the debit balance

    (d)

    Adjusted to any of the credit balance

  6. The ____________ method is widely used, as it helps in the preparation of financial statements.

    (a)

    Total

    (b)

    Balance

    (c)

    Both 'a' and 'b'

    (d)

    None of these

  7. The source document or voucher used for recording entries in sales book is ____

    (a)

    Debit note

    (b)

    Credit note

    (c)

    Invoice

    (d)

    Cash receipt

  8. ______ is an official appointed by the government.

    (a)

    Notary public

    (b)

    Protest

    (c)

    Both

    (d)

    None of these

  9. Under straight line method, the amount of depreciation is

    (a)

    Increasing every year

    (b)

    Decreasing every year

    (c)

    Constant for all the years

    (d)

    Fluctuating every year

  10. Amount spent on increasing the seating capacity in a cinema hall is

    (a)

    Capital expenditure

    (b)

    Revenue expenditure

    (c)

    Deferred revenue expenditure

    (d)

    None of the above.

  11. One of the limitations of computerised accounting system is

    (a)

    System failure

    (b)

    Accuracy

    (c)

    Versatility

    (d)

    Storage

  12. Part-B

    Answer all the questions

    13 x 2 = 26
  13. How do SHGs maintain their accounting?

  14. Write any two objectives of Accounting.

  15. Write a brief note on 'Consistency' assumption.

  16. Write any two needs for accounting standards.

  17. Prepare a trial balance with the following information:

       Rs     Rs 
     Purchases    2,00,000  Sales    3,00,000
     Bank loan 1,50,000  Creditors   1,00,000
     Debtors 3,00,000  Cash 1,80,000
     Stock  70,000  Capital 2,00,000
  18. As per the Rough Book, following transactions of M/s. Jain Fashion Wears are given you are required to make out the Sales Book.

     2015 Feb 1   Sold to Mis. Om & Sons on Credit as per Invoice No. 182  
        72 Kurtas @ Rs 175 each
        45 Trousers @ Rs 225 each
        Less: Trade Discount @ 5%
    Feb 5   Sold to Deepti & Co. as per Invoice No.282
        50 long shirts @ Rs 185 each
        65 Jeans @ Rs 235 each
    Feb 18   Sold to M/s. Gupta & Sons for cash as per Invoice No. 173  
        20 Ladies Suits @ Rs 115 each
        30 T-Shirts @ Rs 405 each
        Less: Trade Discount 5%
    Feb 20   Sold 5 Chairs @ Rs 50 each to Mis. Kapil & Co. as per Invoice No. 381 
  19. Is it correct to say that Sales book is a record prepared from invoices issued to customers?

  20. What is annuity method?

  21. What is sinking fund method?

  22. A company has purchased a machinery for Rs.1,80,000 and spent Rs.10,000 for its installation. The estimated life of the machinery is 5 years with a residual value of Rs.15,000. Find out the amount of depreciation to be provided every year.

  23. Classify the following expenditures and receipts as capital or revenue:
    i) Rs.10,000 spent as travelling expenses of the directors on trips abroad for the purchase of fixed assets.
    ii) Amount received from trade receivables during the year.
    iii) Amount spent on demolition of building to construct a large building on the same site.
    iv) Insurance claim received on account of a machinery damaged by fire.

  24. What is capital expenditure?

  25. What is grouping of accounts?

  26. Part-C

    Answer all the questions

    6 x 3 = 18
  27. Discuss the role of an accountant in the modern business world.

  28. Write short notes on
    a) Capital
    b) Assets
    c) Liabilities

  29. "Business units last indefinitely". Mention and explain the concept on which the statement is based.

  30. "Despite many advantages, double entry system also has some disadvantages". In the light of this statement discuss the advantages of double entry system.

  31. What are the limitations of trial balance?

  32. State the input and output devices of a computer system.

  33. Part-D

    Answer all the questions

    8 x 5 = 40
  34. Describe the informational needs of external users

  35. Explain the advantages of Book-keeping.

  36. Prepare trial balance as on 31.12.2017 from the following balances of Mr Balakrishnan.

       Rs     Rs
     Capital     2,00,000   Repairs     2,400
     Drawings   18,000   Office lighting   2,600
     Furniture 64,500   Printing and Stationery   2,700
     Stock at the beginning   62,050   Bank loan 17,500
     Bills receivable 7,500   Computer   30,000
     Bills payable 8,750   Debtors 46,500
     Purchases 88,100   Cash in hand 17,000
     Sales 1,35,450   Cash at bank 27,250
     Discount allowed 7,100   General expenses 7,100
     Discount received 3,500   Creditors 17,600
  37. Prepare the trial balance from the following balances of Rajesh as on 31st March, 2017.

      Rs   Rs
    Bills receivable 13,000 Drawings 7,000
    Bank charges 750 Sundry debtors 17,100
    Conveyance charges 350 Bills payable 12,000
    Discount received 1,300 Capital 25,900
    Cash in hand 1,000    
  38. Enter the following transactions in the purchases and sales books ofKannan, an automobile dealer, for the month of December 2017.

     2017 Dec.    Rs
    1   Bought from Sumathi gearboxes on credit   17,800
    4   Sold goods to Rani on credit 15,200
    6   Purchased goods on credit from Mani 7,000
    10   Sold goods on credit to Saranya 12,500
    17   Sold goods to Hussain on credit 13,250
    21   Purchased goods on credit from Raghunathan   10,000
    26   Sold goods to Shyam for cash 3,000
  39. Record the following transactions in the proper subsidiary books of Mis. Sunil & Co., and cost them to the Ledger.

     2013 Apr 1   Goods sold to Ramesh Rs 1,000  
    Apr 5   Sold goods to Kumar Rs 2,200
    Apr 8   Sold goods to Shankar Rs 300
    Apr 10   Goods returned by Kumar Rs 600
    Apr 15   Credit Note sent to Shankar for Rs 200 being the Invoice overcharged.  
  40. State whether they are capital and revenue.
    i) Construction of building Rs.10,00,000.
    ii) Repairs to furniture Rs.50,000.
    iii) White-washing the building Rs.80,000
    iv) Pulling down the old building and rebuilding Rs.4,00,000

  41. The following table is given to you. Find solution for the following questions.

      A B C D E F G H I J
    1 550 156     852 584 TAX 573 GST 1234
    2 340 1285 468 584 268 222 CASH BRS STOCK DEBT

    A) How many cells contain numbers only?
    B) Count the number of cells that contain any value.
    C) Count the number of cells containing the value exceeding 1000.

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