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TN 11th Accountancy Capital and Revenue Transactions Sample Question Papers Study Material - QB365 Set A

Published on: 24/08/2026

Download Tamil Nadu 11th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Std: 11th Standard - Accountancy

chapter: Capital and Revenue Transactions - Sample Question Papers

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Questions:

Multiple Choice Question

5 x 1 = 5

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

Error of principle arises when _______.

(a)

There is complete omission of a transaction

(b)

There is partial omission of a transaction

(c)

Distinction is not made between capital and revenue items

(d)

There are wrong postings and wrong castings

Revenue expenditure is intended to benefit ______.

(a)

Past period

(b)

Future period

(c)

Current period

(d)

Any period

Amount received from IDBI as a medium term loan for augmenting working capital ______.

(a)

Capital expenditures

(b)

Revenue expenditures

(c)

Revenue receipts

(d)

Capital receipt

A bank reconciliation statement is prepared by ______.

(a)

Bank

(b)

Business

(c)

Debtor to the business

(d)

Creditor to the Business

Generic 2

6 x 2 = 12

From the following particulars prepare a bank reconciliation statement of Jayakumar as
on 31st December, 2016.
(a) Balance as per cash book Rs. 7,130
(b) Cheque deposited but not cleared Rs. 1,000
(c) A customer has deposited Rs. 800 into the bank directly

What is meant by depreciation?

What is meant by rectification of errors?

State with reasons whether the following are capital or revenue or deferred revenue expenditure:
i) Advertisement expenses amounted to Rs.10 crores to introduce a new product.
ii) Expenses on freight for purchasing new machinery.
iii) Freight and insurance on the new machinery and cartage paid to bring the new machinery to the factory.

10.

The following errors were detected before the preparation of trial balance. Rectify them.
(a) Sales book is undercast by Rs. 100
(b) Sales book is overcast by Rs. 200
(c) Purchases book is undercast by Rs. 300
(d) Purchases book is overcast by Rs. 400

11.

What is meant by bank overdraft?

Generic 3

6 x 3 = 18

12.

From the following information, calculate the amount of depreciation and rate of depreciation under straight line method.
Purchase price of machine Rs. 80,000
Expenses to be capitalised Rs. 20,000
Estimated residual value Rs. 35,000
Expected useful life 5 years.

13.

From the following information, prepare bank reconciliation statement to find out balance as per bank statement on 31^st March 2017.

	Particulars	Rs
(i)	Cheques deposited but not yet collected by the bank	500
(ii)	Cheque issued but not yet presented for payment	1,000
(iii)	Bank interest charged	100
(iv)	Rent paid by bank as per standing instruction	200
(v)	Cash book balance	300

14.

Calculate the rate of depreciation under straight line method from the following information
Purchased a second hand machinery on 1.1.2018 for Rs. 38,000
On 1.1.2018 spent Rs. 12,000 on its repairs
Expected useful life of machine is 4 years
Estimated residual value Rs. 6,000

15.

The following errors were located before the preparation of the trial balance. Rectify them.
(a) Goods sold to Anand for Rs. 1,000 on credit was not entered in the sales book.
(b) An amount of Rs. 400 paid for repairs to the machinery stands wrongly posted to machinery account.
(c) Salaries Rs. 2,000 paid to Gandhiraj was wrongly debited to his personal account in the ledger.

16.

Distinguish between capital receipt and revenue receipt.

17.

Distinguish between capital expenditure and revenue expenditure.

Generic 5

2 x 5 = 10

18.

From the following particulars, give journal entries for 2 years and prepare machinery account under straight line method of providing depreciation:
Machinery was purchased on 1.1.2016
Price of the machine Rs. 36,000
Freight charges Rs. 2,500
Installation charges Rs. 1,500
Life of the machine 5 years

19.

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

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Answers Key:

Multiple Choice Question

5 x 1 = 5

(d)
Capital receipt

(b)
Business

Generic 2

6 x 2 = 12

The process of allocation of the cost of a fixed asset oyer its useful life is known as depreciation

(i) The correction of accounting errors in a systematic manner is called the rectification of errors.
(ii) In other words, the process of systematically correcting the accounting errors is known as rectification of errors.

i) The effect of heavy advertisement expenses will extend to more than one accounting period, but it does not create any property of tangible or intangible nature and hence it is deferred revenue expenditure.
ii) It is a capital expenditure since it is incurred up to the point the machine is ready for use.
iii) These are capital expenditures since they are incurred up to the point the machine is ready for use.

10.

(a) Sales account should be credited with Rs. 100
(b) Sales account should be debited with Rs. 200
(c) Purchases account should be debited with Rs. 300
(d) Purchases account should be credited with Rs. 400
Tutorial Note:
(a) In this case, the sales book is undercast by Rs. 100. The total of sales book is posted to the credit side of sales account in the ledger. The undercasting has resulted in undercrediting of sales account by Rs. 100. This is an error of commission. The error is only in sales account. There is short credit in sales account by Rs. 100. Hence, it is rectified by crediting sales account by Rs. 100.

11.

(i) Bank overdraft is an amount drawn over and above the actual balance kept in the bank account.
(ii) This facility is available only to the current account holders.
(iii) Interest will be charged for the amount overdrawn i.e., overdraft.

Generic 3

6 x 3 = 18

12.

\( \text { Amount of depreciation per year } =\frac{\text { Original cost of the asset }-\text { Estimated scrap value }}{\text { Estimated useful life of the asset in years }} \)
\(=\frac{1,00,000-35,000}{5}=\frac{65,000}{5}=Rs. 13,000 \text { per year }\)
\( \text { Rate of depreciation } =\frac{\text { Amount of depreciation per year }}{\text { Original cost }} \times 100\)
\(=\frac{13,000}{1,00,000} \times 100=13 \%\)
Note:
Original cost = Purchase price + Expenses to be capitalised
= 80,000 + 20,000 = Rs. 1,00,000

13.

Bank reconciliation statement as on 31^st March, 2017
Particulars	Amount Rs.	Amount Rs.
Balance as per cash book		300
Add: Cheque issued but not yet presented for payment		1,000
		1,300
Less: Cheques deposited but not yet collected by the bank	500
Bank interest charged	100
Rent paid by bank as per standing instruction	200	800
Balance as per bank statement		500

14.

Amount of depreciation = \({(Price\ of\ the\ Asset + Installation\ charges)-Scrap value\over Estimated\ life\ of\ the\ Asset}\)
\(={(38,000+12,000)-6,000\over 4}\)
\(={44,000\over4}=Rs.11,000\)
Rate of Depreciation = \({Amount\ of\ depreciation\over Original\ Cost}\times100\)
\(={11,000\over 50,000}\times100=22\%\)
Amount of depreciation Rs. 11,000; Rate of depreciation 22%)

15.

Rectifying entries

	Particulars	Dr.	Cr.
a	Anand A/c Dr. To Sales A/c (Being the sale of goods to Anand not entered in sales book, now rectified)	1,000	1,000
b	Repairs A/c Dr. To Machinery A/c (Being the repairs wrongly debited to machinery account, now rectified)	400	400
c	Salaries A/c Dr. To Gandhiraj A/c (Being salaries paid to Gandhiraj wrongly debited to his account, now rectified)	2,000	2,000

Note: Method of deriving the rectifying entries

	Wrong Entry	Correct Entry	Rectifying Entry
a	Nil (Complete Omission)	Anand A/c Dr. 1,000 To Sales A/c 1,000	Anand A/c Dr. 1,000 To Sales A/c 1,000
b	Machinery A/c Dr. 400 To Cash A/c 400	Repairs A/c Dr. 400 To Cash A/c 400	Repairs A/c Dr. 400 To Machinery A/c 400
c	Gandhiraj A/c Dr. 2,000 To Cash A/c 2,000	Salary A/c Dr. 2,000 To Cash A/c 2,000	Salary A/c Dr. 2,000 To Gandhiraj A/c 2,000

16.

Basis	Capital receipts	Revenue receipts
1. Nature	Non-recurring in nature	Recurring in nature
2. Size	Amount is generally substantial	Amount is generally smaller
3.Distribution	These amounts are not available for distribution as profits	The excess of revenue receipts over the revenue expenses can be used for distribution as profits.

17.

Basis	Capital expenditure	Revenue expenditure
i) Nature	It is non - recurring in nature	It is recurring in nature
ii) Purpose	To contribute to the revenue earning capacity of the business.	To carry on the day to day activities of the business
iii) Period of benefits	Its benefit is available for a longer period.	Its benefit is obtained within one accounting period.
iv) Effect on profit earning capacity	It increases the profit earning capacity of the business.	It maintains the profit earning capacity of the business.
v) Accounting treatment	It will appear on the assets side of the balance sheet.	It will be shown on the debit side of the trading and profit and loss account depending on whether direct or indirect in nature.

Generic 5

2 x 5 = 10

18.

Amount of depreciation per year \(=\frac{\text { Original cost }}{\text { Estimates useful life }}\)
\(={40,000\over 5} =Rs.8,000\)
Rate of Depreciation per year = \({Amount\ of\ depreciation\over Original\ Cost}\times100\)
\(={8,000\over 40,000}\times 100=20\%\)
(Note : Cost of the asset = Purchase price +Transportation cost + Installation cost,
= 36,000 + 2,500 + 1,500 = Rs.40,000)
Amount of depreciation: Rs. 8,000; Balance in machinery A/c: Rs. 24,000)

Journal entries
Date	Particulars		Debit Rs.	Credit Rs.
2016 January 1	Machinery A/c	Dr	36,000	36,000
	To Bank A/c			36,000
	(Machinery bought)
January 1	Machinery A/c	Dr	4,000
	To Bank A/c			4,000
	(Transportation and installation cost incurred on purchase of machinery)
December 31	Depreciation A/c	Dr	8,000
	To Machinery a/C			8,000
	(Depreciation provided)
December 31	Profit and loss A/c	Dr	8,000
	To Depreciation A/c			8,000
	(Depreciation transferred to profit and loss amount)
2017 December 31	Depreciation A/c	Dr	8,000
	To-Machinery A/c			8,000
	(Depreciation provided)
December 31	Profit and loss A/c	Dr	8,000
	To Depreciation A/c			8,000
	(Depreciation transferred to profit and loss account)

Dr Ledger Account Machinery Account Cr
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2016 Jan 1	To Bank A/c	36,000	2016 Dee 31	By Depreciation A/c	8,000
Jan I	To Bank A/c	4,000	Dec 31	By Balance c/d	32,000
		40,000			40,000
2017 Jan 1	To Balance b/d	32,000	2017 Dec 31	By Depreciation A/c	8,000
			Dec 31	By Balance c/d	24,000
		32,000			32,000
2018 Jan 1	To Balance b/d	24,000

19.

S.No.	Transactions	Classification
i)	Construction of building Rs.10,00,000	Capital expenditure
ii)	Repairs to furnitures Rs.50,000	Revenue expenditure
iii)	White-washing the building Rs.80,000	Revenue expenditure
iv)	Pulling down the old building and rebuilding Rs.4,00,000.	Capital expenditure