Sub. code 103
NEB — GRADE XI
Model Question
Class 11 Accounting Model Question
The candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.
Pass Marks : 32
सबै प्रश्नको उत्तर दिनुहोस् । (Attempt All Questions)
This model question paper is for Class 11 Accounting, (subject code 103), carrying full marks of 75 with a pass mark of 32, to be completed within 3 Hours. Model answers are available for questions that have one — reveal them with a free account (a few reveals) or a paid plan (unlimited).
Section "A"
Very Short Answer Questions
What is book-keeping?
Mention any two objectives of accounting.
Write the meaning of money measurement concept.
Define trial balance.
What is crossed cheque?
Write about error of principle.
What is reserve?
Write any one difference between capital expenditure and revenue expenditure.
What is Treasury Single Account (TSA)?
Define bank cash book.
Write about budget sheet.
Group "B"
Short Answer Questions
A. State accounting process in brief.
B. Prepare accounting equation from following details :
a. Started business with cash Rs. 200,000 and furniture Rs. 500,000.
b. Purchase goods worth Rs. 80,000 on cash and Rs. 70,000 on credit.
c. Paid house rent Rs. 90,000.
d. Sold goods costing Rs. 20,000 on cash Rs. 25,000.
A. Cash and banking transactions are given below :
Poush 1: Opening balance of cash and bank are Rs. 60,000 and Rs. 2,00,000 respectively.
Poush 13: Cash deposited into bank of Rs. 30,000.
Poush 22: Paid of Rs. 32,000 to Ram through cheque for settling his account of Rs. 35,000.
Poush 27: Received a cheque from Aviral of Rs. 19,000 and cash Rs. 3,000 for selling machine.
B. Transactions related to furniture purchases are given below :
Dec 5: Purchased from Karuna suppliers: 10 coffee tables for Rs. 10,000 each, 20 small chairs @ Rs. 4,000 each, Trade discount @ 10%.
Dec 19: Purchased from Anjali traders: 5 beds @ Rs. 15,000 each, 8 pieces of sofa @ Rs. 25,000 per sofa.
Required: Purchase book
Following information are given :
a. Cash book showed a balance of Rs. 80,000.
b. Bank credited Rs. 20,000 only out of various cheques of Rs. 75,000 deposited in the bank.
c. Cheques issued of Rs. 90,000 but a cheque of Rs. 10,000 was not presented for payment till the date.
d. A customer deposited a cheque of Rs. 44,000 directly in the bank but has not been recorded in the cash book.
e. Bank debited Rs. 500 as bank charge in the pass book.
f. Cheque of Rs. 12,000 received and entered into the cash book but failed to deposit in the bank.
Required: Bank Reconciliation Statement
A. Rectify following errors before preparing of trial balance :
a. Cash sales to Sharma Rs. 45,000 debited to his account.
b. Sales of machinery Rs. 19,000 were wrongly credited in sales account.
c. Purchase goods from Pema Rs. 20,000 recorded in sales book.
Required: Rectifying Entries
B. Following information are extracted from the trial balance :
Sundry debtors: Debit Rs. 52,000
Provision for bad debt: Credit Rs. 4,000
Additional information:
a. Bad debt Rs. 2,000
b. Provision for bad debt @ 5%
Required: Provision for bad debt account
A. An unadjusted trial balance of 'A' trading concern is given below
:
Particulars | Debit (Rs.) | Particulars | Credit (Rs.) |
Land and building | 4,00,000 | Capital | 4,25,000 |
Debtors | 2,25,000 | Creditors | 1,20,000 |
Bank balance | 1,45,000 | Sales | 5,15,000 |
Salary | 80,000 | Loan | 2,50,000 |
Office expenses | 40,000 | ||
Purchase | 3,80,000 | ||
Cash | 25,000 | ||
Prepaid insurance | 15,000 | ||
Total | 13,10,000 | Total | 13,10,000 |
Additional information:
a. Land appreciated by
b. Salary outstanding Rs. 1,500
c. Prepaid insurance expired Rs. 10,000
Required: Adjusted Trial Balance
On 1 st January, 2018 ABC Company purchased a motor van at Rs. 6,00,000. On 1 st July, 2019, company purchased another van worth Rs. 8,00,000. On 1 st July 2020, the first motor van was sold bearing the loss of Rs. 50,000 and on the same date company purchased another van for Rs. 10,00,000. Depreciation was charged @ 10% p.a. under fixed installment method. The accounts of the company were closed on 31 st December each year.
Required: Motor Van account for the first three years
Trial balance of Nabin Trader on Chaitra 30, 2071 is given below:
Particulars | (Rs.) | Particulars | (Rs.) |
Selling expenses | 5,000 | Gross profit b/d | 87,000 |
Interest | 5,000 | Creditors | 8,000 |
Debtors | 25,000 | Bank loan | 19,000 |
Insurance | 1,000 | Provision for bad debt | 2,000 |
Bad debts | 2,000 | Capital | 50,000 |
Salaries | 20,000 | ||
Investment | 40,000 | ||
Cash | 14,000 | ||
Machinery | 50,000 | ||
Rent | 4,000 | ||
Total | 166,000 | Total | 166,000 |
Additional information:
i. Depreciation on machinery 10% p.a.
ii. Salary payable Rs. 4,000
iii. New bad debt Rs. 1,000
Required:
a. Profit & Loss account
b. Balance sheet
Red Cross provides following information:
Balance Sheet as on 1-1- 2018
Liabilities | Amount | Assets | (Amount) |
|---|---|---|---|
Capital fund | 4,00,000 | Fixed assets | 3,00,000 |
Loan | 60,000 | Investments | 1,00,000 |
Closing cash balance | 60,000 | ||
Total | 4,60,000 | Total | 4,60,000 |
Receipts and payments of Red Cross are given below as on -12-2018
Receipts:
Subscriptions Rs. 50,000
Entrance fees Rs. 30,000
Interest on investment Rs. 5,000
Sale of old Furniture Rs. 5,000
Payment:
Tournament expenses Rs. 10,000
Wages Rs. 20,000
Printing Rs. 7,500
General expenses Rs. 12,000
Newspaper Rs. 1,800
Other information and outstanding are given below:
i. Printing outstanding Rs. 500 and wages outstanding Rs. 3,000
ii. 40% of the entrance fee is to be capitalized
iii. Fixed assets depreciate by 10%
iv. Subscription due for the year Rs. 22,000
Required:
a. Receipts and payment account
b. Income and Expenditure account
A. Shweta keeps her account under the single entry system. She started a business with Rs. 2,00,000 on 1 st Jan, 2017. She withdraws Rs. 2,000 per month for household work. The position of her business at the end of the year was as follows:
Fixed assets: Rs. 1,90,000
Inventory: Rs. 85,000
Due expenses: Rs. 10,000
Creditors: Rs. 50,000
Debtors: Rs. 40,000
Bank balance: Rs. 60,000
Required:
a. Closing statement of affairs
b. Statement of profit and loss
B. Following transactions are taken from District level office. The office has submitted payment order to DTCO for paying the following expenses:
a. Chaitra 1, House rent @ Rs. 8,000 per month for three month paid to house owner Sailesh
b. Chaitra 15, Furniture advance of Rs. 5,000 was cleared as per bill of Rs. 6,000 and bank voucher of Rs. 1,000 submitted by Na. Su. Ramchandr
c. Employee remuneration of Kartik Rs. 30,000 (without provident fund) was distributed after deducting P.F. Rs. 6,000, social security Rs. 300 and income tax Rs. 1,500.
Required: Journal Vouchers
Following information are given:
Budget sub-heads | Annual budget (Rs.) | Expenses up to Falgun (Rs.) |
Employee remuneration | 8,00,000 | 4,00,000 |
Office materials | 1,20,000 | 60,000 |
House rent | 1,40,000 | 80,000 |
Furniture and fixtures | 80,000 | 35,000 |
Vehicles | 5,00,000 | 3,50,000 |
Expenditure for the month of Chaitra:
Chaitra 1: Purchase furniture Rs. 10,000
Chaitra 5: Purchase vehicles for Rs. 1,00,000
Chaitra 10: Advance rent paid for Rs. 10,000
Chaitra 28: Distributed Rs. 35,000 for employee's remuneration after deducting income tax Rs. 1,000 and P.F. Rs. 8,000
Required: Budget Sheet
Group C
Long answer questions
Section "C" — Long Answer Questions
Information of Samariyan Enterprises is given below:
i. Started a business with Rs. 20,000.
ii. Purchase goods of Rs. 15,000 from Ram.
iii. Goods sold on cash Rs. 18,000.
iv. Cash paid to Ram Rs. 10,000.
v. Again goods purchase from Ram of Rs. 20,000.
vi. Paid to Ram Rs. 24,000 in full settlement of his account.
Required:
a. Journal Entries
b. Necessary Ledger
c. Trial Balance
The trial balance of Deepak Store as on December, 2020 is given below:
Particulars | (Rs.) | Particulars | (Rs.) |
Plant and machinery | 3,60,000 | Gain on sale of furniture | 10,000 |
Salary expenses | 71,000 | Creditor | 96,000 |
Cost of goods sold | 7,55,000 | Sales | 10,53,000 |
Debtors | 34,500 | Accumulated depreciation on plant and machinery | 45,000 |
Stock at end | 1,10,000 | 15% Bank loan | 56,000 |
Drawing | 15,000 | Capital | 3,50,000 |
10% Investment | 1,20,000 | Interest on investment | 10,000 |
Goodwill | 48,500 | ||
Gas and oil expenses | 8,000 | ||
Cash | 40,000 | ||
Repair expenses | 34,000 | ||
Prepaid insurance | 24,000 | ||
Total | 16,20,000 | Total | 16,20,000 |
Additional information:
i. Salaries are 80% of selling and 20% administrative expenditure.
ii. Insurance expired of Rs. 18,000.
iii. Depreciation on plant and machinery is 15%.
iv. Gas and oil expenses are selling expenses.
Required: Based on NFRS
a. Statement of Profit or Loss
b. Statement of Financial Position
What is Government Accounting?Explain the Features of the New Government Accounting System (NGAS)
A. Following transactions are given to prepare a bank cash book. Assuming that payment order of all expenditure are submitted to DTCO and DTCO paid the expenditure at the same day:
Marga 3: Na.Su. Pratibha cleared the previous year office related expenses advance of Rs. 30,000. She has actually spent Rs. 35,000. The excess amount of Rs. 5,000 was paid to her.
Marga 9: Issued a cheque of Rs. 20,000 for purchasing furniture.
Marga 22: Cleared advance of Officer, Mr. Subodh Regmi against the submission of bill of book purchase amount of Rs. 10,000 and cash Rs. 3,000.
Marga 30: Distributed total salary of Rs. 88,000 after deduction of Provident fund Rs. 16,000 and income tax Rs. 4,000.
B. Following information is given
:
Budget Sub-heads | Code No. | Annual Budget (Rs.) | Expenditure upto Magh (Rs.) | Expenditure of Falgun (Rs.) |
Employee remuneration | 21111 | 4,80,000 | 2,80,000 | 40,000 |
Water and electricity | 22111 | 35,000 | 23,000 | 3,500 |
Travelling expenses | 22612 | 30,000 | 19,000 | 10,000 |
House rent | 28142 | 60,000 | 35,000 | 5,000 |
Vehicle | 31121 | 70,000 | 41,000 | 9,000 |
Additional information:
a. Unclear travelling expenses advance Rs. 5,500
Required: Statement of expenditure showing Budget balance
Paper Overview & Analysis
Year
Model Question
Type
75
Full Marks
32
Pass Marks
3 Hours
Duration
22
Question Items
Question Type Breakdown
Group Breakdown