AHSEC Class 11 Question Paper: Book Keeping and Accountancy' 2016 | CLASS 11 QUESTION PAPERS

[Accountancy Class 11 Question Paper, AHSEC Question Papers, Accountancy, 2016]

AHSEC CLASS 11 QUESTION PAPERS
ACCOUNTANCY' 2016
Full Marks: 100
Pass Marks: 30
Time: Three hours
The figures in the margin indicate full marks for the questions

1. (a) Fill in the blanks:                   1x4=4
                                 i.            Every business transaction has _____ aspects.
                               ii.            Trial Balance is a Proof only of the _____ accuracy of the accounts.
                              iii.            Single Entry System is a _____ system.
                             iv.            The full form of CPU is _____.
    (b) State whether the following are true or false:                         1x2=2
                                 i.            Accounting is both a science and an art.
                               ii.            Accountants regard a business separate from its proprietors.
    (c) Rewrite the sentences with appropriate alternatives:                          1x2=2
                                 i.            Credit note is prepared by Debtor / Creditor.
                               ii.            Computerized Accounting System is a system of maintaining records of financial / non-financial transactions in electronic form.
2. What do you understand by the terms “Debit” and “Credit”?          2
3. What is a Trial Balance?                             2
4. Mention the various kinds of Reserve.              2
5. State the two points of difference between “Bill of Exchange” and “Promissory Note”.            2

6. Mention two distinctions between Book Keeping and Accounting.                2
7. Write three characteristics of a cheque.                            1x3=3
Or
    Mention three advantages of Bank Reconciliation Statement.                    1x3=3
8. State three objectives of providing depreciation.                         1x3=3
Or
    What do you mean by Bad debt and Doubtful Debt?                   1 ½ x2=3
9. State three reasons of dishonour of a bill.                        1x3=3
Or
    State three differences between Trade Bill and Accommodation Bill.           1x3=3
10. What are the various kinds of Single Entry System?                   3
Or
    “Though Single Entry System is full of defects, yet it is still seen in Practice”. Explain in brief.     3
11. Discuss the Data Processing Cycle.                    3
Or
    Mention three Distinctions between information and data.                     1x3=3
12. What is “Generally Accepted Accounting Principle”? Explain “recognize all losses anticipate no gain”.                                2+3
Or
    Explain Business Entity Assumption and its utility.                         2+3=5
13. Mention two errors of omission and three errors of commission.                       2+3=5
Or
    Give Journal entries to rectify the following errors: (Any two)                 2 ½ x2=5
               i.            Cash Sales to Ram of Rs. 545 was recorded as Rs. 455.
             ii.            Purchase of machinery for Rs. 6,000 was entered in the purchase account.
            iii.            Rs. 2,000 paid as rent to Rahim, a landlord, was debited to Rahim account.
           iv.            Rs. 500 received by sale of an old machine has been treated as cash sale.
14. A firm purchases a Plant for a sum Rs. 1,00,000 on 1st April, 2010. Installation charges are Rs. 2,000. The plant is estimated to have a scrap value of Rs. 10,000 at the end of its useful life of five years.
You are required to prepare Plant Account for the first two years charging depreciation according to Straight Line method. Accounting year ends on 31st March.                    5
Or
    Following is the extract of the Trial Balance of Guwahati Stores as on 31st March, 2015:
Trial Balance as on 31st March, 2015

Debit (Rs.)
Credit (Rs.)
Sundry Debtors
Bad Debts
80,600
800


Write off further Bad Debts Rs. 600 and create a provision for Doubtful Debts @ 5% on Sundry Debtors. Pass journal entries. The financial year ends on 31st March every year.
15. Arun drew a bill for Rs. 2,000 on Barun on 15th March, 2015 for three months. Barun duly accepted the bill and returned it to Arun.
Arun discounted the bill with his banker at 10% p.a. Pass Journal entries in the books of Arun, if
a)         The bill is honoured on due date; and
b)         The bill is dishonoured on due date and noting charges of Rs. 40 paid by bank.            5
Or
    Define a bill of exchange. State its four features.                          1+4=5
16. Give five points of difference between a Trading Account and Profit and Loss Account.     1x5=5
Or
    What do you mean by Financial Statements? State their three uses.                    2+3=5
17. Mr. Bora started business on 1st April 2014. The following are his trading transaction during the year ended 31st March, 2015.

Purchases
Carriage Inward
Carriage Outward
Return Outward
Sales
Return Inward
Royalty
Clearing charges
Octroi duty
Closing stock
Rs.
20,000
1,000
600
500
30,000
800
200
300
500
2,000
18. “Computerized Accounting systems are the best form of accounting system.” Do you agree? Comment.  5
Or
    What is Management Information System? State its three utilities.         2+3=5
19. Prepare Petty Cash book from the following transactions under imprest system.
Jan 1. 2015
Jan 3. 2015
Jan 4. 2015
Jan 5. 2015
Jan 6. 2015
Jan 6. 2015
Jan 6. 2015
Jan 6. 2015
Received from head Cashier
Paid rickshaw charge
Paid for Stationery
Paid for Cartage
Paid for bus fare
Paid for Postage
Paid for repairing of Typewriter
Paid for Telephone bill
Rs. 300.00
Rs. 32.00
Rs. 25.00
Rs. 62.00
Rs. 18.00
Rs. 15.00
Rs. 70.00
Rs. 20.00

Or
    Is Cash Book a Journal or a Ledger? Give ruling of a Triple Column Cash Book and show therein five imaginary entries.                                 3+5=8
20. Prepare a Bank Reconciliation Statement as on 31st March, 2015 from the following particulars.  8
a)         Bank balance as per Cash Book Rs. 1,630.
b)         Cheques issued but not presented for payment Rs. 4,050.
c)          Cheques deposited but not entered in the Pass Book Rs. 4,000.
d)         Bank debited Rs. 80 as bank charges.
e)         Rs. 5,000 wrongly credited by bank in our Pass Book.
f)          Bank interest credited by bank Rs. 250.
g)         Bill Receivable Rs. 950 discounted but later dishonoured and no entry has been passed for this.
Or
    Distinguish between Pass Book and Bank Reconciliation Statement. Discuss the procedures of preparing a Bank Reconciliation Statement.                            4+4=8
21. From the following information, prepare necessary accounts to ascertain the amount of total sales.    8

Balance of Debtor on 1-1-2014
Balance of Bills Receivable 1-1-2014
Cash received from debtors during the year 2014
Cash received against Bills Receivable
Bad debts
Return Inward
Discount Allowed to Debtors
Balance of Debtors on 31.12.2014
Balance of Bill Receivable on 31.12.2014
Cash Sales during the year
Rs.
1,20,000
30,000
3,00,000
80,000
10,000
30,000
3,000
1,00,000
24,000
1,30,000

Or
M/s Kalita commenced business on 1.4.2014 with Cash Rs. 20,000 and on that day he bought furniture for Rs. 4,000. He took a bank loan of Rs. 5,000 on 1.10.2014. During the year he introduced Rs. 3,000 as additional Capital but withdrew Rs. 500 per month for family expenses.  4+4=8
His other assets and liabilities as on 31-03-2015 were as follows:

Cash in hand
Stock
Debtors
Creditors
Outstanding bank interest loan
Furniture to be depreciated by 10% p.a.
Rs.
1,000
20,000
10,000
5,000
200


You are required to prepare a Statement of Affairs as on 31.03.2015 and also a Statement of Profit and Loss of the business for the year ended 31.03.2015.
22. From the following Trial Balance of M/s Rita Misra. You are required to prepare Profit & Loss Account for the year ended 31st March, 2015 and a Balance Sheet as on that date.
TRIAL BALANCE
Debit Balance
Amount
Credit Balance
Amount
Rent
Discount
Cash in hand
Cash at Bank
Furniture
Sundry Debtors
Drawings
Building
Bad Debts
Closing Stock
Salaries
Bills Receivable
6,000
1,000
9,000
47,000
14,000
16,000
4,000
80,000
1,250
7,500
18,000
3,000
Capital
Sundry Creditors
Bank Loan
Commission
Trading A/c
(Gross Profit)
1,50,000
5,000
7,000
2,500
42,250

2,06,750

2,06,750
Adjustment:
a)         Furniture is to be depreciated by 5% p.a.
b)         Salaries Outstanding Rs. 2,000.
c)          Rent includes Rs. 1,000 paid is advance.
d)         Make Provision for Bad Debt Rs. 500.