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

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 E 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 do you mean by Double Entry System? [1]

Q. 2. Give any two examples of deferred revenue expenditure? [1]

Q. 3. What type of account is outstanding wages? [1]

Q. 4. Describe the advantages of sub-dividing the journal. [HOTS][3]

Q. 5. What are modifying principles? Briefly explain their significance& Values? [VB] [3]

Q. 6. What is suspense Account? Give one example with entries of suspense Account. [3]

Q.7. Aashirwad draws on Aakarshak a bill of exchange for 3 months for ₹ 10,000 which Aakarshak accept on January 01, 2011. Aashirwad endorses the bill in favour of Aakriti before maturity. Aakarshak approaches Aashirwad with the request that the bill be renewed for a further period of 3 months @ 18 %p.a. interest. Aashirwad pays the sum to Aakriti on the due date and agrees to the proposal ofA akarshak. Record Journal Entries in the books of Aashirwad assuming that the second bill is duly met. [4)

Q.8. Distinguish between Book-keeping and Accounting. [4]

Q.9. On 31st December,2011, the Pass Book of a merchant shows the credit balance to be ₹ 3,357. The cheques and drafts sent to the bank but not collected and credited amounted to ₹ 790 and three cheques drawn for ₹ 300,₹ 150 and ₹ 200 respectively were not presented for payment till 31st January next year.

Bank has paid a bill payable amounting to ₹ 1,000 but it has not been entered in the Cash Book and a bill receivable of ₹ 500 which was discounted with the bank was dishonoured by the drawee on due.date.

The bank has charged ₹ 13 as its commission for collecting outstation cheques and has allowed interest ₹ 10 on the trader’s balance.

Prepare a Bank Reconciliation Statement and show the balance as shown in the Cash Bank.  [HOTS)[4]

Q. 10. What is meant by Accounting Standards? Discuss their nature. [6]

Q. 11. Record the following transactions into proper subsidiary books,then close the subsidiary books on January 31 and post them into Ledger: [6]

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

Q. 12. Ganesh drew a trial balance of his operations for the year ended 31st March, 2011, there was difference in the trial balance, which he closed with a Suspense A/c. On scrutiny by the auditors, the following errors were found:

(a) Purchase day book for the month of April, 2010, was under cast by ₹ 1,000.
(b) Sales day book of October, 2010, was overcast by ₹ 10,000.
(c) A furniture purchased for ₹ 8,100 was entered in the furniture account of 810.
(d) A bill for ₹ 10,000 drawn by Ganesh was not entered in the bills receivable book.
(e) A machinery purchased for ₹ 10,000 was entered in the purchase day book.

Pass necessary journal entries to rectify the same and ascertain the difference in the trial balance that was shown under the Suspense A/c in respect of the above items. [6]

Q. 13. A company whose accounting year is the calendar year purchased on 1st April, 2009 machinery costing ₹ 30,000. It further purchased machinery on 1st Oct. 2009 costing ₹ 20,000 and on 1st July, 2010 costing ₹ 10,000.On 1st Jan., 2011 one third of the machinery installed, on 1st April, 2009 became obsolete and was sold for ₹ 3,000.

Show how the Machinery Account would appear in the books of company if depreciation is charged @ 10%p.a, on Written down Value Method.
Prepare Machinery Account from 2009 to 2012. Show your workings clearly. [8]

Or

Q. 14. From the following Transactions, Prepare cash book with cash and Bank columns: [8]

2013
Feb. 1  Cash in hand ₹ 7,500 cash at Bank ₹ 8,000.
Feb. 3  Discount a bill receivable for ₹ 6,000 at 2% through Bank.
Feb. 5  Bought goods for ₹ 2,000 and paid by cheque.
Feb. 15  Paid Trade expense₹120.
Feb. 16  Drew from Bank for office use ₹ 1,000.
Feb. 17  Sold goods for ₹ 12,500 and received a cheque.
Feb. 25  Paid Insurance ₹ 100.
Feb. 27  Cheque received on 17th deposited in Bank.
Feb. 28  Received a cheque from John & Co. ₹ 6,000.
Feb. 28  Purchased 100 NSC for ₹ 100 at ₹ 95 each and paid by cheque

Part B – Financial Accounting II [40 Marks]

Q. 14. Mr. Raj works as an accountant of a company. He always ensures that his accounts are correct and checks them regularly. What value is followed?  [VB] [1]

Q. 15. How will you treat ‘sale of used Sports Materials’ in a NPO ? [1] Q. 16. What is a Statement of Affairs? [1]

Q. 17. Subscriptions received during the year ending 31.12.2012 are as follows:

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

There are 450 members each paying on annual subscription of₹ 50, ₹ 200 were in Arrears for 2011 at the beginning of 2012. Calculate the amount of subscription to be credited to Income and Expenditure account for the year ending 31.12.2012. [8]

Q. 18. Hari maintains his books of account on single entry system. His books provide the following information.

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

His drawing during the year was ₹ 500. Depreciate furniture by 10%and Provide a reserve for bad debts at 10%on sundry debtors. calculate profit. [3]

Q. 19. From the following particulars of Bhomick Brothers, Katihar, prepare a Trading Account for the year ended 31st March, 2012 and calculate cost of goods sold. [3]

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

Q.20. Briefly explain the difference between Manual & Computerised Accounting. [4]

Q. 21. What is Receipt and Payment Account?Howis it different from Income and Expenditure account? [4]

Q.22. What is database management system? Explain its components. [6]

Q.23. From the following Receipts and Payments Account of Jan Kalyan Club, prepare Income and Expenditure Account for the year ending 31st December, 2012. [6]

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

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

Q.24. The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. [8]

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

Adjustments :

1. Closing stock for the year was ₹ 35,500.
2. Interest on drawing @ 6%, Interest on loan @ 5%, Interest on investments @ 4%.

Or

Below is given the Trial Balance of Mr. Ram as on 31st December, 2012. You are required to prepare Trading and Profit & Loss Account and Balance Sheet as on that date. [8]

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

Adjustments :

1. Create a provision for doubtful debts @ 5% on Debtors and 2% for discount on Debtors.
2. Provide up to date interest on investments.
3. Depreciate Plant by 10% p.a. and Furniture by 20% p.a.

Sample Question Paper Solutions

All CBSE Sample Papers for Class 11 Accountancy Class 11 All Subjects All Classes

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