Sample Paper – 2023-24 Marks

Accountancy
Class – XI
Time allowed: 3 Hours Max. Marks: 80
General Instructions
1. Question Paper is divided into two parts. Part – A (56 Marks) and Part – B (24
Marks)
2. Both parts are compulsory
3. All parts of the question should be attempted at one place.
4. Write down the question number clearly before attempting the question
5. 25% of the marks allotted to the question would be deducted for not using
correct format, narrations and working notes.
6. Nothing should be written on the Question paper
7. Scheme of choice
i. 1 Mark – 7 questions (2 from unit 1, 4 from unit 2 and 1 from unit 3)
ii. 3 Mark – 2 questions (1 from unit 1 and 1 from unit 2)
iii. 4 Mark – 1 question (1 from unit 2)
iv. 6 Mark – 2 questions (1 from unit 2 and 1 from unit 3)
Q.No. PART – A Marks
1 IND – AS are: 1
a) Principle based accounting standards
b) Rule based accounting standards
c) Policy and procedure-based standards
d) Neither principle nor rule based standards

2 On intra-state purchase of goods, which of the following accounts are debited. The nominees 1
are:
a) Input IGST a/c
b) Input CGST and Input SGST a/c
c) Input IGST and Input CGST a/c
d) Input IGST a/c and Input SGST a/c
3 Accounting Voucher is prepared on the basis of source documents/voucher. On the basis of 1
accounting voucher, recording is made followed by posting in the ledger. Identify the correct
sequence out of the following:
a) Source document Accounting Voucher Journal Ledger
b) Accounting Voucher Source Document Journal Ledger
c) Source document Accounting Voucher Ledger Journal
d) Journal Accounting Voucher Source Document Ledger

4A Which of the qualitative characteristic of accounting information is present when accounting 1

information meets the requirement of the users?
a) Understandability
b) Relevance
c) Reliability
d) Comparability

Or
4B Which of the qualitative characteristic of accounting information is present when accounting 1
information gives trust and confidence that the reported information is based on facts which
have actually happened in the enterprise?
a) Understandability
b) Relevance
c) Reliability
d) Comparability
5A Under Accrual basis of accounting, revenue is recognised when: 1
a) It is received in cash
b) It is earned
c) Order is received
d) Advance is received

Or
5B Which of the following is not the advantage of Cash basis of accounting: 1
a) Simple
b) Scientific
c) Objective
d) Suitable (No credit policy enterprises)

6 Match the following 1

Column 1 Column 2
A Expenses a/c 1 Unearned income a/c
B Liabilities a/c 2 Bad debts a/c
C Revenue a/c 3 Drawings a/c
D Capital a/c 4 Sales a/c
Options
a) A1, B2, C3, D4
b) A3, B4, C1, D2
c) A2, B1, C4, D3
d) A3, B2, C4, D1

7 Identify the Source document from the given picture: 1

Options:
a) Invoice
b) Debit note
c) Credit note
d) Receipt

8 Rohan, a trader sells goods on credit and prepares _____________ which contains the names of 1
the parties to whom the goods are sold, the rate, quantity and the total amount of sale.
Options:
a) Cash Memo
b) Invoice
c) Debit note
d) Receipt
9 Debit balance of a Personal a/c shows: 1
a) Amount payable
b) Amount receivable
c) Expense
d) Income

10 How many accounts are affected in a transaction? 1

a) Only 1
b) Only 3
c) At least 2
d) 2 or 3

11 Statement 1: Cash column in the cash book cannot have a credit balance 1
Statement 2: Bank overdraft is a liability
Choose the correct option from the following
Options:
a) Only statement 1 is true
b) Only statement 2 is true
c) Both statement 1 and statement 2 are true
d) both statement 1 and statement 2 are false

12 A Assertion (A): When debts written off as bad in the past are recovered, bad debt recovered a/c is 1
credited and not to Debtors a/c
Reason (R): Debtors a/c is credited when some debtors are written off as bad
Which of the following is correct?
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct but R is not the correct explanation of A
c) A is True but R is False
d) A is False but R is True

Or
12 B Assertion (A): Machine purchased and its installation expenses are debited to Machinery a/c only 1
Reason (R): Installation charges are incurred to enhance the working capacity of the machine
Which of the following is correct?
a) Both A and R are correct and R is the correct explanation of A
b) Both A and R are correct but R is not the correct explanation of A
c) A is True but R is False
d) A is False but R is True

13 A The amount of Depreciation charged on machinery is debited to 1

(a) Depreciation Account.
(b) Machinery Account.
(c) Provision for Depreciation Account.
(d) Profit & Loss Account.

Or
13 B Depreciation is a process of 1
(a) Valuation of asset.
(b) Allocation of cost of asset as expense
(c) Both of valuation of asset and allocation of cost.
(d) Allocation of expense.
14 A Periodic total of Purchase book is posted to: 1
a) Individual Supplier a/c
b) Individual Customer a/c
c) Credit side of Purchase a/c
d) Debit side of Purchase a/c

Or
14 B Periodic total of Sales book is posted to: 1
a) Individual Supplier a/c
b) Individual Customer a/c
c) Credit side of Sales a/c
d) Debit side of Sales a/c

15 A Preeti was paid cash ` 2,800 but Jyoti’s a/c was debited by ` 2,000 1
The rectifying entry will be:
Choose the correct option from the following options:

S.No. Particulars L.F. Debit Credit

` `
a Preeti Dr 2,800
To Jyoti 2,000
To Suspense a/c 800
b Preeti Dr 2,800
To Suspense a/c 2,800
c Preeti Dr 2,000
To Jyoti 2,000
d Preeti Dr 800
To Suspense a/c 800

Or
15 B `11,480 paid for repair of motor car was debited to Motor car a/c as `1,480. 1
The rectifying entry will be:
Choose the correct option from the following options:

S.No. Particulars L.F. Debit Credit

` `
a Repairs to Motor car a/c Dr 1,480
To Motor car a/c 1,480
b Repairs to Motor car a/c Dr 11,480
To Motor car a/c 11,480
c Repairs to Motor car a/c Dr 11,480
To Motor car a/c 1,480
To Suspense a/c 10,000
d Repairs to Motor car a/c Dr 1,480
To Suspense a/c 1,480

16 A Sunil is running a confectionery business. His work is to purchase flour, sugar, yeast to make 3
biscuits, buns, cakes etc. He purchased a commercial refrigerator for `200,000 and a second-
hand baking oven for `1,00,000 and immediately spent `5,000 for carriage and `10,000 on its
repairs for increasing the working condition. An old commercial refrigerator is sold for `1,10,000
Costing `70,000. The produced biscuit sold for `40,000, Buns for `30,000 and cake’s turnover
was highest due to festive season `90,000. The raw material costing `80,000, wages paid to
lobour `30,000, Electricity bill is of `10,000. From the above calculate the following:
 a) Capital Expenditure
b) Profit
c) Gain

Or
16 B Anjana started the business of buying and selling of readymade garments for ladies and kids. She 3
made the initial investment of `25,00,000. She purchased clothes for `10,00,000 on cash and
`5,00,000 on credit from Hanuman. She purchased Computer and Printer for `80,000. She sold
clothes costing `12,00,000 at 20% profit, Half of which was on credit. She returned clothes being
defective of `50,000. She withdrew cash of `10,000 and taken away two pairs of kid cloth for her
daughter costing `2000 each. She sold the printer as it was damaged due to negligence of the
operator for `5,000. From the above information, calculate the following:
a) Drawings
b) Closing Stock
c) Revenue from operations

17 A 3
Classify the following errors into following categories:
1. Errors of Omission
2. Errors of Commission
3. Errors of Principle
4. Compensating Errors

a) Purchases Book is totalled as Rs. 10,000 instead of ` 1,00,000.

b) Commission paid for purchase of land is debited to Commission Account instead of Land
Account.
c) Shyam’s Account was debited with ` 100 instead of ` 1,000 while Ram Prasad’s Account
was debited with ` 1,000 instead of ` 100.

Or
17 B 3
Rectify the following errors
a) A credit sale of old furniture to Mahesh for ` 500 omitted to be posted.
b) A purchase of goods from Ram amounting to ` 1,500 has been wrongly passed through
the Sales Book.
c) Goods sold to Manohar for ` 550 was posted as ` 5,500.

18 Prepare ‘Accounting!Equation’ from the following transactions in the books of Pranav 3

A. The following balances appeared in the books of Pranav
i. Cash ` 1,80,000
ii. Goods ` 50,000
iii. Debtors ` 10,000
iv. Furniture ` 10,000
v. Vineet ` 20,000 (Credit)
B. Sold goods for cash costing ` 10,000 and on credit to Dhruv goods costing ` 15,000, both
at a profit of 20% on cost price
C. Vineet accepted `18,000 in cash and allowed discount of ` 2,000

19 Open a ‘T-Shape’ A/c of a creditor ‘Ankur’ and post the following transactions on the proper side 3
1) Purchased goods from Ankur `20,000
2) Paid to Ankur ` 12,500
3) Purchased goods from Ankur `8,000
4) Goods returned to Ankur `1,000
5) Paid to Ankur `10,000
20 Name the reserve in each of the following cases and differentiate between the identified 3
reserves on the bases of usage and purpose.
1) It is created out of business profit
2) It is created out of capital profit

21 Identify and explain the accounting principles/concepts/conventions followed or violated in the 4

following situations: (2+2)
a) Malhotra and sons are running a readymade garments business. The accountant adopts
Written down value method of depreciation year after year for their machines.
b) On 10/3/2023, a fire broke out in the premises of Raghav Ltd. And destroyed a part of its
plant and machinery. Due to this a sharp decline in production is expected for the next 6
months. The company did not show this fact in the report of the company for the year
ended 31/3/2023

22 A Prepare Bank Reconciliation Statement of Dhairya as on 31st July, 2023: 4

(i) Debit balance as per Bank Pass Book as on the date is ` 5,100.
(ii) Cheque dishonoured and debited by bank but not given effect to it in the ledger ` 6,800.
(iii) Interest on overdraft excess credited in the ledger ` 800.
(iv) Wrongly credited by the bank to account, deposit of some other party ` 700.

Or
22 B From the following information provided by Jayesh, Prepare Bank Reconciliation Statement as on 4
30th June, 2023:
(i) Credit balance as per Bank Cash Book as on the date is ` 30,000.
(ii) Out of the total cheques of ` 1,00,000 issued, cheques aggregating ` 40,000 were debited in
June, Cheques aggregating ` 30,000 were debited in July and the rest have not yet been debited.
(iii) Payment side of cash book is undercast by ` 3,000.
(iv) A cheque for ` 7500 drawn on his savings account has been shown as drawn on his current
account.

23 On 1/7/2020, AB Enterprises purchased a machine for ` 1,00,000. On 1/10/2020, Second machine 6

was purchased for ` 60,000. Another machine was purchased for ` 80,000 on 1/10/21. On 30/9/22,
half of the machine purchased on 1/7/20 was sold for ` 30,000.
Prepare machinery a/c for the accounting year 2020-21 to 2022-23 assuming that the accounts
are closed on 31st March each year and depreciation was charged @10% p.a. by written down
value method.

24 From the following transactions of M/S Ishaan Traders Delhi, prepare a Double Column Cash 6
Book for the month of January 2023 (Ignore Journal Proper)
1/1/23 Cash in hand ` 12,000
Bank Overdraft ` 28,000
2/1/23 Purchased goods from M/S TN Traders for ` 15,000 and the amount was paid by cheque
4/1/23 Sold goods for ` 50,000 and received a cheque for 60% of the amount due and the
cheque was sent to the bank on the same day.
7/1/23 Received a cheque from Kohli for ` 12,000 in full settlement of his dues ` 12,300
10/1/23 The cheque received from Kohli was deposited in the bank
15/1/23 Cash withdrawn from bank `5,000 for office use and `2,000 for private use of the
proprietor
18/1/23 Ajay who owed us `2,500 became bankrupt and 40 paisa in a rupee was recovered from
his official receiver.
27/1/23 Sold goods to Naresh `30,000
31/1/23 Interest on overdraft charged by bank `900
31/1/23 Deposited with bank entire cash balance after retaining `5,000
25 A Pass necessary Journal entries in the books of Rajhans, Surat (Gujarat) assuming CGST and SGST
@ 6% each and IGST @12% 6
1) Sold to Ram, goods of the list price `50,000 less 20% trade discount
2) Purchased goods of list price `25,000 from Arav of Mumbai less 20 % trade discount
3) Gave an order to Ram Lal and Sons to supply goods of list price `25,000 at a trade
discount of 20%
4) Received `5,000 for ‘Accrued interest’ on investment directly by bank.
5) Paid `5,500 as electricity charges.
6) Paid `10,000 Life Insurance Premium of Sahil by Bank Draft. Paid bank charges of ` 100
for the bank draft.

Or
25 B Enter the following transactions in the appropriate subsidiary books. Accounts are to be closed
on 31st Matrch,2023. 6
Jan 1 Purchased from Anil Goods of the list Price of `70,000 at 10% Trade Discount.
Jan 4 Returned to Anil Goods at List Price ` 8,000.
Jan 10 Sold to Disha Goods worth ` 80,000
Jan 15 Purchased goods of List Price `1,00,000, Trade Discount 10% from Mohit for Cash .
Jan 18 Sold to Anuj Goods valued ` 32,000
Jan 21 Purchased goods from Gaurav for ` 80,000, Trade Discount 10%
Jan 25 Furniture purchased on credit from Ravi `25,000.

Part - B
26 Differentiate between Trial Balance and Balance Sheet on the basis of ‘Types of accounts’ 1

27 Calculate Gross profit form the following: 1

I. Gross Profit is 25% on Sales
II. Cost of Goods Sold is ` 3,60,000

Options
a) 1,20,000
b) 90,000
c) 1,80,000
d) 72,000
28 Under Single entry system, ‘Profit’ is calculated as follows:
a) Closing capital – additional capital + drawings – Opening capital
b) Closing capital + additional capital + drawings – Opening capital
c) Closing capital + additional capital - drawings – Opening capital
d) Closing capital – additional capital - drawings– Opening capital
1

29 From the following information calculate the commission payable to the manager if it is payable 1
@ 10% of net profit after charging such commission
I. Gross profit ` 10,00,000
II. Indirect revenue (Other income) ` 75,000
III. Indirect expenses excluding manager commission ` 5,25,000

30 A Differentiate between balance sheet and Statement of Affairs on the basis of ‘Objective’ 1

Or
30 B Differentiate between balance sheet and Statement of Affairs on the basis of ‘Accounting system’ 1

31
Draw the Balance Sheet of Ritendra Kumar as at 31st March, 2023 from the following information
3
in the ‘Order of permanence’:
 Cash in Hand Rs. 11,200; Sundry Creditors Rs. 28,800; Bills Payable Rs. 3,500; Bills Receivable Rs.
5,300; Sundry Debtors Rs. 18,000.
Machinery as on 1st April, 2019 Rs. 85,000 and Depreciation provided for the year Rs. 8,500;
Furniture and Fixtures as on 1st April, 2019 Rs. 21,000 and Depreciation provided for the year Rs.
2,100; Closing Stock Rs. 15,400.
Proprietor’s Capital Account Rs. 90,000; His drawings during the year Rs. 8,000. Net Profit as per
Profit and Loss Account Rs. 31,000.

32 Following is the extract from the Trial Balance of a firm as at 31st March, 2023:
TRIAL BALANCE 4
As at 31st March, 2023
Heads of Accounts L.F. Dr.(`) Cr. (`)
Sundry Debtors 4,10,000
Provision for Doubtful Debts 20,000
Bad Debts 6,000
Additional Information:
(i) Additional bad debts ` 10,000.
(ii) Maintain the Provision for Doubtful Debts @ 10% on sundry debtors.
Pass necessary Journal entries.

33 Dinesh does not keep her records in systematic manner. He gives you the following information:
Particulars 1/4/22 31/3/23 6
` `
Stock 28,500 40,000
Debtors 13,000 16,000
Creditors 11,000 1,000
Bills receivable 4,000 2,000
Building 10,000 10,000
Cash at Bank 4,000 2,000 (Overdraft)

You are given the following additional information:

v A provision of 10% on Debtors is required for bad and doubtful debts
v Outstanding salaries `5,000
v Dinesh also paid `11,000 as Income Tax and an instalment of `1,000 per month of his
personal loan. He has also sold his personal investment of `20,000 at a premium of 5%
and brought that amount in the business.

Calculate the profit made during the year ended 31/3/23 using ‘Statement of Affairs’ Method.

34 A Form the following balances taken from the books of Komal, prepare Trading and Profit & Loss
a/c for the year ended 31/3/2023
Trial Balance as at 31/3/2023
Debit balances ` Credit balances `
Income tax 20,000 Capital 3,54,000
Opening stock 45,000 Sales 8,10,000
Purchases 2,15,000 Provision for doubtful debts 12,000
Manufacturing wages 60,000 Commission received 8,000
Fuel and power 1,25,500 Bills payable 15,000
Salaries 1,32,000 Creditors 1,10,000
Bad debts 10,000 Interest on loan to Dinesh 9,000
Bills receivable 12,000 Manufacturing wages
Debtors 91,000 outstanding 5,000
Carriage inwards 9,500
Rent 24,000
 Cash at Bank 30,000
Insurance 12,000
Rent paid in advance 2,000
Investments 1,00,000
Machinery 2,00,000
Furniture (1/10/22) 1,00,000
Loan to Dinesh @12% (given
on 1/4/22) 1,00,000
Misc. Expenses 35,000
13,23,000 13,23,000
Adjustments:
I. Closing stock was valued at cost ` 1,40,000 (Market value ` 1,35,000) 6
II. Unexpired insurance ` 3,000
III. Salaries for the month of March 2023 were still unpaid.
IV. Depreciate Machinery by 10% p.a. and Furniture by 24% p.a.

Or
34 B Form the following balances taken from the books of Tarun, prepare Profit & Loss a/c and
Balance Sheet for the year ended 31/3/2023
Trial Balance as at 31/3/2023
Debit balances ` Credit balances `
Machinery 40,000 Capital 2,00,000
Purchase 3,00,000 Discount Received 8,000
Debtors 4,00,000 Sales 6,42,000
Salaries 60,000 Purchase Return 10,000
Wages 40,000 Creditors 2,40,000
Rent 30,000 Provision for D/D 12,000
Sales return 20,000 Provision for Depreciation
Bad Debts 14,000 on Machinery 4,000
Drawings 28,000
Printing and Stationery 16,000
Insurance 12,000
Opening Stock 1,00,000
Office Expenses 36,000
Cash at Bank 20,000
11,16,000 11,16,000
Adjustments:
I. Gross Profit ` 3,39,000
II. Depreciate machinery @10% p.a. WDV Method (Diminishing Balance method)
III. Prepaid insurance ` 4,000
IV. Goods withdrawn by Tarun for personal use ` 12,000
V. Outstanding Salaries ` 16,000 6
VI. Closing Stock ` 1,35,000

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