CBSE Sample for Class 11 Accountancy (Solved) – Set C

Accountancy Question Paper consists of two parts A and B, all the questions in both the parts are compulsory. Important note while answering to this paper is that all the questions of a part should be answered together. Part A of this paper is based on Financial Accounting I and Part B is based on Financial Accounting II. Please note that the paper given here is only a sample. Set C of Solved CBSE Sample Paper for Class 11 Accountancy is given below with its solutions.

Sample Question Paper

Part A – Financial Accounting I [50 Marks]

Q.1. What is meant by capital receipts? [1]

Q.2. Give two examples of liquid assets. [1]

Q.3. Cash book of XYZ Ltd. shows a payment called ‘Travel Expense’. However, this travel was a personal travel of the managing director with no relation to business. Do you think this is right? [VB] [1]

Q. 4. Prepare an accounting equation from the following: [3]

(i) Kunal started business with cash 2,50,000 ₹
(ii) He purchased furniture for cash 35,000 ₹
(iii) He paid commission 2,000 ₹
(iv) He purchased goods on credit 40,000 ₹
(v) He sold goods (costing ₹ 20,000) for cash 26,000 ₹

Q. 5. Explain principle of full disclosure. [HOTS][3]

Q. 6. Distinguish between Trial Balance and Balance-Sheet. [3]

Q. 7. Pass entries to rectify the following errors: [4]

(i) Purchased good from Ravi Rs. 500 passed through sales book.
(ii) Only Rs. 20 were recorded in Bill Receivable Book instead of Rs. 200.
(iii) A repair to Plant amounting to Rs. 1,000 has been changed to plant & Machine Alc.
(iv) A purchase of goods of Rs. 2,000 has been wrongly debited to Furniture Ale.

Q. 8. What is book keeping? Explain its objectives. [4]

Q. 9. Pass necessary Journal entries’ to rectify the following errors: [4]

(i) Goods returned to Mahima for ₹ 5,000, entered into Sales Returns Book.
(ii) Kajol returned goods worth ₹ 2,000, entered into Purchase Returns Book.
(iii) A credit purchase of₹ 3,000 from Ravina was recorded through Purchase Returns Book.
(iv) Goods worth ₹ 1,160 returned to Karishma, were recorded in Purchase Book as ₹ 1,106.

Q.10. Explain the qualitative characteristics of accounting information. [6]

Q.11. Prepare a Bank Reconciliation Statement from the following particulars :

(i) Credit Balance as per Pass Book on 30th June, 2011. 5,010 ₹
(ii) Cheques drawn but not presented for payment. 3,000 ₹
(iii) Cheques and drafts lodged into Bank but not collected until 2nd July, 2011. 2,900 ₹
(iv) A Bill Payable paid by Bank but not entered in Cash Book. 1,700 ₹
(v) The Bank Column of the receipt side of Cash Book under cast. 100
(vi) M/s Ram Lal and Sons, our agent, have remitted ₹ 3,500 for which there was no entry in Cash Book. [6]

Q. 12. On 15th April, 2012, B accepted three bills of exchange for ₹ 2,400: first bill for ₹ 700 for one month; second bill for ₹ 800 for two months; and third bill for ₹ 900 for three months duly written by A.

On 20th April, 2012, A endorsed the first bill to his creditor C to clear his account of₹ 710 and discounted the second bill on 22nd April with his bankers for ₹ 792. The third bill was retained by A till maturity.

The first bill was met on maturity but the second bill was dishonoured on due date. Bank paid ₹ 10 for noting charges. A charges B ₹ 15 for interest and drew on him a fourth bill for ₹ 825 for three months and B accepted it and returned. Bill No.3 and 4 were met on maturity.
Pass necessary Journal entries in the books of ‘A’. [HOTS][6]

Q. 13. On 1st January, 2009, Nagaji Bros., purchased six machineries for ₹ 15,000 each. Depreciation @10%p.a. on original cost of machines has been provided and accumulated in ‘Depreciation Provi­sion Account’ on 31st December every year.

On 1st January, 2010 one machine was sold for ₹ 12,500 and on 1st January, 2011, a second machine was also sold for ₹ 13,000.An improved model with a cost oH 28,000 was purchased on 1st July, 2010 and the arrangement for providing depreciation was kept to be the same as for older machines. Show Machinery a/c, Provision for Depreciation a/c and Machinery Disposal a/c.

Or

Q. Record the following transactions in the Cash Book of Ghasidas : [8]

CBSE Sample for Class 11 Accountancy (Solved) - Set C

Part B – Financial Accounting D [40 Marks]

Q.14. Mr. Pandey owner of XYZ Ltd firm contributed a large amount of money to a Not-For-Profit Organization. Highlight the values. [VB] [1]

Q. 15. How will you define Payments of Honorarium ? [1]

Q. 16. State anyone feature of incomplete records. [1]

Q. 17. As per Receipts and Payments Account for the year ended on March 31,2012, the subscriptions received is ₹ 2,50,000. Additional information given is as follows: [3]

(i) Subscription Outstanding on 1.4.2011;₹ 50,000.
(ii) Subscription Outstanding on 31.3.2012; ₹ 35,000.
(iii) Subscription Received in Advance as on 1.4.2011; ₹ 25,000.
(iv) Subscription Received in Advance as on 31.3.2012; ₹ 30,000.
Ascertain the amount of income from subscriptions for the year 2011-12.

Q. 18. Mr. Kapil does not keep proper records of his business and he provided the following information.

You are required to prepare a statement showing the profit or loss for the year 2011-12.

Opening Capital (01-04-2011) , 50,000
Closing Capital (31-03-2012) , 1,00,000
Additional capital introduced (2011-12) , 20,000
Drawings made during the year (2011-12) , 40,000 [3]

Q. 19. Prepare specimen of a Balance Sheet in liquidity order with imaginary figures. [3]

Q. 20. What is the role of data as an element of computer? [4]

Q.21. From the information given below, draft receipts and Payments Account of Friends club, Delhi, for the year ended March 31, 2013:

Cash on April 1, 2012 ₹ 3,600, Subscriptions ₹ 37,600, donations ₹ 8000, Entrance Fees ₹ 4,300, Rent Realized from club Hall ₹ 5,250, Electric charges ₹ 3,440, Taxes ₹ 500, Salaries and wages ₹ 21,500, Honorarium to secretary ₹ 2,500, Interest Received on Investments ₹ 2,950, Printing and Stationery ₹ 350, Petty cash Payments ₹ 100, Insurance Premium Paid ₹ 310. [HOTS] [4]

Q.22. What are the advantages of ready made accounting software? [6]

Q. 23. From the following Receipts and Payments Account of a Club and from the additional information supplied, prepare Income and Expenditure Account for the year ended 31st December, 2012 : [6]

CBSE Sample for Class 11 Accountancy (Solved) - Set C

Additional Information:

(a) The club has, 50 members each paying annual subscription of 25. Subscriptions outstanding on 31st Dec. 2011 were ₹ 300.
(b) On 31st December 2012 salaries outstanding amounted to f 100. Salaries paid included ₹ 100 for the year 2011.
(c) On 1-1-2012,the club owned Land and Building valued at ₹ 10,000, Furniture ₹ 600 and Books ₹ 500.

Q.24. Mr. Radhe Mohan gives you the following Trial Balance as on 31st December, 2011:

CBSE Sample for Class 11 Accountancy (Solved) - Set C

Adjustments :

1. Closing Stock was taken on 31st December, 2011 and was then valued at ₹ 40,000.
2. Create provision for Doubtful Debts @ 5%.
3. Rent paid to Landlord was debited to his personal account.
Prepare Trading and Profit and Loss Account for the year ended 31st Dec., 2011 and a Balance Sheet as on that date. [8]

Or

From the following balances extracted from the books of Sharma, prepare the Trading and Profit & Loss Account for the year ended 31st March, 2012 and a Balance Sheet as on that date after taking into consideration the adjustments given below: [8]

CBSE Sample for Class 11 Accountancy (Solved) - Set C
CBSE Sample for Class 11 Accountancy (Solved) - Set C

Adjustments :
(a) Closing Stock was valued at ₹ 61,700.
(b) Depreciate [email protected] 10% and Sales [email protected]%.
(c) Outstanding Rent amounted to ₹ 900.
(d) Charge one-fourth of Salaries and Wages to Trading Account.

Sample Question Paper Solutions

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