Padasalai.Net s Quarterly Exam Model Question Paper. Time Allowed : 2:30 hours Maximum Marks : 90 XI-Accountancy
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1 Padasalai.Net s Quarterly Exam Model Question Paper Time Allowed : 2:30 hours Maximum Marks : 90 XI-Accountancy I. CHOOSE THE CORRECT ANSWER 20 X 1 =20 1) The direct advantage of accounting does not include. a) Preparation of financial statement b) Competitive advantage. c) Ascertainment at profit or loss d) Information to Interested groups. 2) Pick the odd one out form the following? a) ATM b) NEFT c) RTGS d) MO. 3) An asset is recorded in the books on the Basic at the historical cost that is the acquisition cost. Cost of acquisition will be the base has all further accountancy to. a) Money Measurement concept b) Cost Concept c) Business entity concept d) Dual aspect concept. 4) In India Accountancy Standards are Issued by. a) Reserve Bank of India. b) The cost and management Accountants of India. c) Supreme court of India d) The Institute of Chartered Accountants of India. 5) Consider the following statement? Assertion (A) : Cash discount is allowed to the parties making prompt payment within the stipulated period of time or early payment. Example (R) : 5% discount will be allowed if the payment is made. within one month. (a) Both (A) and (R) are true and (R) is correct example. (b) Both (A) and (R) are true and (R) is no correct Example. (c) (A) is true (R) is False. (d) (A) is false (R) is true.
2 6) Withdrawal of cash from business by the proprietor should be credited to. a) Drawing A/C b) Cash A/C c) Capital A/C d) Purchase A/C 7) A. Businessman Purchased goods for 25,00,000 and sold 80% of such goods during the accounting year ended 31st march The market value of the remaining goods was Rs.4,00,000. He valued the closing inventory at cost He violated the concept of. a) Money measurement b) Conservation c) Cost b) periodicity 8) Actual purchased a car for Rs.5,00,000 by making down payment at Rs.1,00,000 and signing a Rs.4,00,000 bill payable due in 60days. As a result of this transaction. a) Total asset Increase by Rs.5,00,000 b) Total liabilities Increase by Rs.4,00,000 c) Total Asses Increase by Rs.4,00,000 d) Total Asset Increase by Rs.4,00,000 with corresponding increase in liabilities by Rs.4,00,000. 9) The trial balance contains the balances of. a) Only personal A/C b) Only Real A/C c) Only Nominal A/C d)all A/C. 10) Match list I with list II and select the correct answer using the codes given bellow. List I List II a) Internal user of accounting information i) Human Resource Accounting b) External user of accounting information ii) Tax Manager c) Role of an accountant iii) Researchers d) Branches of accounting iv) Employers. Codes (a) (i) (ii) (iii) (iv) (b) (iv) (iii) (ii) (i) (c) (iv) (ii) (iii) (i) (d) (iii) (iv) (i) (ii)
3 11) Balance as per cash book is Rs Bank charges of Rs.50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now? a) Rs.1950 Credit Balance. b) Rs.1950 debit Balance. c) Rs.2050 debit Balance. d) Rs.2050 credit balance. 12) State the order in which accounting system is followed. (i) Final A/C (ii) Ledger (iii) Trial Balance (iv) Journal Choose the correct order using codes given below. (a) (i) (ii) (iii) (iv) (b) (iv) (iii) (ii) (i) (c) (iv) (ii) (iii) (i) (d) (iii) (iv) (i) (ii) 13) A trader purchased goods for Rs.4,000 at discount of 5% As he paid the amount immediately, a cash discount of Rs. 100 was allowed. In this case, purchase A/C is debited by. a) Rs.4000 b) Rs.3800 c) Rs.3700 d) Rs )Debit notes issued are used to prepare. a) Seles return book b) Purchase return book c) Journal proper d) purchase book 15) Double entry in case book is completed when? a) Salaries are paid by cheque. b) Withdrawal of cash from bank for personal use c) Deposited cash in to bank d) None of these.
4 16) M/S AB enterprises has bank Balance, Rs.8800 as per cash book and the following ware found: a) Three cheques deposited in bank for Rs.5800 but only one cheque for Rs.2000 was cleared. b) Dividend collected by Bank Rs.1250 was wrongly entered in cash book as Rs what is Balance as per pass book? a) Rs.3480 b)rs.4730 c)rs.2730 d)rs ) Which one of the following is not correctly mached. a) Journal - Ledger Folio b) Ledger - Journal Folio c) Purchase book - Invoice Number d) Sales return book - debit not number. 18) Amount paid to supplier is. a) an event b) a Transaction c) Both (A) and (B) d) Neither (A) nor (B) 19) Goods worth Rs.2000 were distributed as free samples in the market. The Journal entry will be. a) Drawings A/c Dr 2000 To purchase A/c 2000 b) Sales A/c Dr 2000 To Cash A/c 2000 c) Advertisement A/c Dr 2000 To Purchase A/c 2000 d) No entry. 20) The imprest system pertains to a) Purchase book b) Sales book c) Cash book d) Pertly chase book
5 SECTION II Answer any seven questions in which Question No.30 is Compulsory. 7X2=14 21) Book-Keeping form the base for the preparation of financial statements and interpretation which are the important functions of accounting. Define book keeping. 22) The accounts relating to Assets are Called as real A/c what is accounting rule for nominal A/c? 23) Ledger account is a summary at statement of all transactions relating to person, asset, liability expense or income. From the Transactions recorded in the Journal, ledger is prepared what is meant by posting. 24) Prepare accounting equation the following transaction. (i) asset (ii) Asset Liability Debit Credit Credit Debit 25) State Whether the balance of the following accounts should be placed in the trial balance. a) Sales b) Drawings c) Salary d) Cash. 26) Complete the sales book and pass Journal entry s DATE PARTICULARS INVOICE L DETAILS TOTAL NO F 2017 MARCH 5 MANI TRADERS VELLORE 10 Pack A4 250PP 10 dozens writing per dozen. Less: 10% Trade discount ) Give the Format of Analytical Petty cash book. 28) Describe the various kinds of partners. 29) What are the differences between cashbook and bank statement? 30) What is cash discount?
6 SECTION III Answer any seven Questions in which Question No.38 is Compulsory. 7X3=21 31) Stamp 328, Bazaar Street, Rs.10,000/- Saidapet, Chennai Three Months after date pay to me or to my order the sum of Rupees Ten Thousand Only for Value received. To Thiru. Jothi Kumar Ne.430, Mini Street, Chennai-1 Ramesh Babu 1. What is due date of the bill? 2. Who is prepare this Bill? 3. Who is creditor? 32) Prepare accounting equation for the following. (i) Started Business with cash. (ii) Goods bought on credit from somu (iii) Purchased furniture for cash Rs.80,000/- Rs.10,000/- Rs.6,000/- 33) Enter the following Transaction in the Journal of Ravi who is dialing in furniture mart Jan 1. Ravi Started Business with cash 1,00,000 34) Pass Journal entry 2. Bought goods for cash 10, Sold goods for Cash 25, Jan 1. Towels given as charities Rs. 3, Shirts taken over by ananth for personal use Rs.12, Sarees distributed by free sample Rs. 3,000
7 35) The following balances appeared in the books of vinoth on jan 1,2018. Assets: Case Rs.80,000; stock Rs.50,000; Furniture Rs.20,000; Machinery Rs. 40,000; Liabilities : amount due to Ram Rs.20,000 Pass the opening Journal entry. 36) Give Journal entries and Post them to cash A/C Jan 1 Commenced business with cash Rs.2,00, Introduced additional capital Rs. 50, Withdrawn for personal use Rs. 20,000 37) Prepare the trial balance from the following information. (i) Bank Loan 2,00,000 (ii) Bills payable 1,00,000 (iii) Stock 70,000 (iv) Capital 2,50,000 (v) Purchase 1,80,000 (vi) Sales 3,00,000 (Vii) Debtors 4,00,000 (viii)bank 2,00,000 38) Complete the Bill Book Date of Bill Period of Bill Day of grace Due date 1st March 12th July 1st Oct 2 months 1 Months 30 days ) Enter the following transaction ina single column cashbook of Ravi for May Cash in hand 40, Cash received from swathi 4, Paid ways 2, Sold goods for cash 9, Purchase Computer 15, Paid salary 2,000
8 40) From the following particulars prepare a Bank reconciliation statement of Jayakumar on 31st December (a) Balance as per cash book Rs.7130 (b) Cheque deposited but not cleared Rs.1000 (c) A customer has deposited in to the bank directly Rs.800 SECTION III Answer all the Questions 7X5=35 41) 10 Goods sold for cash 7, Cash purchases 11, Gave Padma a cheque for Rs.21,375 and was allowed a discount of Purchased a printer by cheque 7, Received cash from Rajasekar 14,320 Discount allowed to him Rs.180 In the books of Udhayakumar Dr. Three Column cash book Cr. Amount (Rs.) Amount (Rs.) Date Particulars R.N L.F 2018 Sep 1 To Balance b/d Discount Allowed Cash Bank Date Particulars V.N L.F 2018 Sep By Balance b/d Discount Allowed Cash Bank To Cash A/c C 3 By Bank A/c C 15,000 4 To Shyamala & Co. A/c By Purchase A/c By Padma A/c , To Rajasekar A/c By Printer A/c To Balance c/d By Balance c/d ,300 42, ,300 42,045 OR
9 B) Write the names K kinds of attected accounts in the given columns of debit and credited. Dr Cr 1) Transaction Name of A/C Type of A/C Name of A/C Type of A/C i) Started business with cash ii) Credit Purchase of goods. iii) Commission Paid by cheque. iv) Cash deposited into bank. v) Interest received into cash. vi) furniture purchased from Mukesh vii) Goods sold by Ramesh. Cash A/c Assets Capital Capital 42) Given below are the entries in the bank column of the cash book and the bank statement. Determine the missing items and rewrite the bank statement. Cash Book (Bank column) Date Particulars Amount Rs. Date Particulars Amount Rs Oct To Balance b/d To Ram A/c To Sales A/c (Ravi) To Commission A/c (Kala) To Nirmala A/c 20,525 6, ,810 35, Oct By Kamala A/c By Magesh A/c By Mala A/c By Salaries A/c By Balance c/d 12,900 9,740 11, ,695 35,935 Bank Statement
10 Date Particulars Dr By Balance b/d By Ram By Ravi By Kala To Rajan (salaries) Withdrawals Rs. 12,000 9, (OR) Cr. Deposits Rs Balance Dr./Cr. Rs. B) Determine the missing figure of the three column cash book of Udhayakumar 2018 Sep Rs. 1 Cash balance 25,000 1 Bank balance (cr.) 13, Cr Cr Cr Cr 3 Paid into bank 15,000 4 Received cash from Shyamala & Co., 9,380 Discount allowed to the Rs ) Enter the following transactions in the Journal of Bhagwat and sons Amount (Rs) January 1 Tarun started business with cash 1,00,000 January 2 Goods purchased for cash 20,000 January 4 Machinery Purchased from Vibhu 30,000 January 6 Rent paid in cash 10,000 January 8 Goods purchased on credit from Anil 25,000 January 10 Goods sold for cash 40,000 January 15 Goods sold on credit to Gurmeet 30,000 January 18 Salaries paid. 12,000 January 20 Cash withdrawn for personal use 5,000
11 B) The following are the transactions of Kumar Swami for the month of January. Journalise these transactions. 2006January l Capital paid into Bank 3,00,000 1 Bought Stationery for cash Bought Goods for cash 25,000 3 Bought Postage Stamps 5 Sold Goods for Cash 10,000 6 Bought Office Furniture from Mahendra Bros. 40, Sold goods to Jacob 12, Received cheque from Jacob 12, Paid Mahendra Bros. by cheque 40, Sold goods to Ramesh & Co 5, Bought from S. Seth & Bros 15, Bought Goods for cash from S.Narain & Co 22, Sold Good to P.Prakash 17, Ramesh & Co. Paid on account 2, Paid S.Seth & Bros. by cheque in full settlement 14, Paid Salaries 2, Rent is due to S. Sharma but not yet paid 2,000 44) Enter following transactions in the Bank column cash Book of M/s Tea Traders for April 2006 Date Details Amount (Rs.) 2006 April 01 Commenced business with Cash 60, Opened Bank account with SBI 45, Purchased Goods by Cash 7, Purchased Office Machine for cash 5, Sold Goods on credit to Manjula and received cheque 6, Cash Sales 10, Manjula Cheque deposited into Bank 22 Paid Wages by cheque Cash withdrawn from Bank for personal use 3, Rent paid by Cheque 2,000
12 B) Record the following transactions in the sales book and sales returns book of M/s. Ponni & Co., and post them to ledger Aug 1 Sold goods to Senthil as per Invoice No. 68 for ` 20,500 on credit OR Aug 4 Sold goods to Madhavan as per Invoice No. 74 for ` 12,800 on credit Aug 7 Sold goods to Kanagasabai as per Invoice No. 78 for ` 7,500 on credit Aug 15 Returns inward by Senthil as per Credit Note no. 7 for ` 1,500 for which cash is not paid Aug 20 Sold goods to Selvam for ` 13,300 for cash Aug 25 Sales returns of ` 1,800 by Madhavan as per Credit Note No. 11 for which cash is not paid 45)The preparation of the bills receivable and bills payable book is explained through the following example: 2017 July 1 Acceptance received from Nirmala for ` 5,000 payable after 3 months. July 20 Acceptance given to Shailaja s bill for ` 3,000 payable after 3 months. July 31 Acceptance received from Faisal for ` 1,000 payable after 60 days. Aug. 5 Farid s bill for ` 1,000 payable after 6 months accepted. Aug.11 Mohan s acceptance for ` 700 payable after 90 days received. B) Mr. Sumit the Petty Cahier of M/s Travels India received Rs 2000 on April 1, 2006 from the Head Cashier. Prepare Petty Cash Book on Imprest System from the petty OR payments during the month of April 2006 for the following items: Date Details Amount (Rs) 2006 April 2 Auto fare Courier services 50 4 Postage stamps 95 5 Pencils/Pads 65 6 Speed Post Charges 40 8 Taxi fare (205+90) Refreshments Auto fare 60
13 13 Telegram Computer stationery Bus fare STD Call Charges Refreshment Photostat Charges Courier services Bus fare 40 46) From the following particulars of Raja traders, prepare a bank reconciliation statement as on 31st January, (a) Balance as per bank statement ` 5,000 (b) Cheques amounting to ` 800 had been recorded in the cash book as having been deposited into the bank on 25th January 2018, but were entered in the bank statement on 2nd February (c) Amount received by bank through NEFT amounting to ` 3,000, omitted in the cash book. (d) Two cheques issued for ` 3,000 and ` 2,000 on 29th March Only the first cheque is presented for payment. (e) Insurance premium on motor vehicles for `1,000 paid by the bank as per standing instruction not recorded in the cash book. (f) Credit side of cash book was undercast by ` 700 (g) Subsidy received directly by the bank from the state government amounting to ` 10,000, not entered in cash book. OR B) From the following particulars of John traders, prepare a bank reconciliation statement as on 31st March, (a) Bank overdraft as per bank statement ` 4,000 (b) Cheques amounting to `2,000 had been recorded in the cash book as having been deposited into the bank on 26th March 2018, but were entered in the bank statement on 4th April (c) Amount received by bank through cash deposit machine amounting to ` 5,000, omitted in the cash book.
14 (d) Amount of ` 3,000 wrongly debited to John traders account by the bank, for which no details are available. (e) Bills for collection credited by the bank till 29th March 2017 amounting to ` 4,000, but no advice received by John traders. (f) Electricity charges made through net banking for ` 900 was wrongly entered in cash column of the cash book instead of bank column. (g) Cash sales wrongly recorded in the bank column of the cash book for ` 4, ) Enter the following transactions in a cash book with cash, bank and discount columns of Sundari April ` 1 Commenced business with cash 80,000 1 Cash at bank 44, Bought goods for and paid by cheque 13, Bought furniture for cash 9, Bought stationery for cash 1, Received cheque from Santhosh and deposited in the bank 6,800 Discount allowed to him Cheque issued to Rama 4, Paid to Muralidharan half by cheque, half by cash 12,400 Discount received from him Salaries paid through bank 6, Withdrawn cash from bank 1, Locker rent charged by the bank 150 B) Record the following transactions in the purchases book of Raja Furniture: 2017 Purchased from Kasi Furnitures, Kanyakumari May 4 May 6 May ` 300 each 4 ` 800 each OR Purchased for cash from Welcome Furniture, Vellore 2 ` 2,000 each 4 ` 200 each Less: Trade discount 5% Bought furniture from Murugan Furniture Mart, Nagapattinam 10 ` 250 each 5 ` 750 each
15 May 20 May 25 Delivery and packing charges ` 150 Purchased 2 computers for office use from Anandan & Co., Adyar on credit for `15,550 each Purchased from Gowtham & Co., Chennai 10 ` 550 each 15 steel ` 2,000 each Delivery charges ` 200 Less: Trade discount 10% R.Balamurugan.M.com,B.ed Puttuthakku,vellore Ph:
PADASALAI.NET S - QUARTERLY MODEL QUESTIONS ACCOUNTANCY CLASS: XI MARKS 90 PART A CHOOSE THE BEST ANSWER AND WRITE 20 X 1 = 20.
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