Sub. code 103
NEB — GRADE XI
Set D
Model Question
Class 11 Accounting Model Question Set D
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, Set D (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).
Group A
Very short question answer
Define Accounting.
What is NFRS or NAS?
What is Ledger?
What is Purchase Book?
What is Cross Cheque?
What is Error of Omission?
Differentiate between Capital Expenditure and Revenue Expenditure.
Define Accrued Income?
What is Treasury Single Account (TSA)?
Opening Stock = Rs. 20,000, Purchases = Rs. 80,000, Closing Stock = Rs. 15,000. Calculate Cost of Goods Sold (COGS).
If Total Assets of a business are Rs. 500,000 and Capital is Rs. 350,000, find the amount of Liabilities.
Group B
Short answer question
Following transactions are given:
i. Ram started business with Rs. 1,50,000
ii. Cash paid only Rs. 50,000 for the purchase of machinery of Rs. 80,000
iii. Paid salary of Rs. 20,000
Required: Accounting Equation
Following transactions are given:
Baisakh 1: Started business with cash Rs. 2,00,000
Baisakh 2: Deposited into bank Rs. 1,00,000
Baisakh 4: Out of goods purchased from Bhola of Rs. 50,000, Rs. 30,000 is paid in cash and rest on credit
Baisakh 6: Goods sold to Santa Rs. 25,000
Baisakh 8: Settled Bhola'a Account by issuing a cheque of Rs. 19,500
Baisakh 9: Santa settled his account and allowed him 2% discount.
Required: Journal Entries
Following information are given:
i. Balance as per pass book Rs 25,000 on 30 Magh.
ii. Interest debited in the pass book Rs. 2,500
iii. Cheque paid but not credited by bank Rs. 5,000
iv. Interest on investment Rs. 1,200 not recorded in cash book.
v. Cheques of Rs. 20,000 were sent for deposit, however the bank has credited Rs. 17,000 only.
vi. Cheque received but not sent to bank Rs. 2,000
Required: Bank Reconciliation Statement
Following is the trial balance extracted last year
Particulars | Dr (Rs) | Cr (Rs) |
Capital ........................................... | 2,00,000 | |
Creditors ....................................... | 50,000 | |
Sales ............................................. | 4,50,000 | |
Bank Overdraft .............................. | 50,000 | |
Furniture ....................................... | 1,50,000 | |
Cash at bank ............................... | 1,60,000 | |
Debtors ......................................... | 40,000 | |
Rent ............................................... | 25,000 | |
Wages .......................................... | 5,000 | |
Purchase ..................................... | 3,50,000 | |
Salary ........................................... | 20,000 | |
Total | 7,50,000 | 7,50,000 |
Additional information
Depreciation on furniture by 10%
Outstanding Rent Rs 5000
Required: Adjusted trial Balance [3]
Following errors were located after preparing trial balance:
i. Goods purchased from Ram Rs. 63,000 was recorded as Rs. 36,000.
ii. Payment made to Ram Rs. 10,000 was not posted on Ram's account.
iii. Salary paid Rs. 5,000 was recorded as rent paid.
Required: Entries for rectification
The balance sheet as on Chaitra 2072 and receipts and payments account for the year ended Chaitra 2073 of a public organization are as under:
Balance Sheet as on Chaitra 2072
Liabilities | Rs. | Assets | Rs. |
Capital | 2,01,500 | Furniture | 30,000 |
Salary due | 500 | Buildings | 1,50,000 |
Advance Subscription | 1,000 | Subscription Due | 3,000 |
Cash | 20,000 | ||
Total | 2,03,000 | Total | 2,03,000 |
Receipts and Payments Account for the year ended Chaitra 2073
Receipts | Rs. | Payments | Rs. |
To balance b/d | 20,000 | By salary | 12,500 |
To subscriptions: 2072 | 3,000 | By office operation expenses | 8,000 |
2073 | 70,000 | By other expenses | 15,000 |
To other income | 10,000 | By telephone charges | 6,000 |
To entrance fees | 22,000 | By closing cash balance | 83,500 |
Total | 1,25,000 | Total | 1,25,000 |
Additional information:
i. Subscription due for current year Rs. 4,000.
ii. Depreciate furniture by 10%.
iii. Salary due Rs. 6,000.
iv. 50% of entrance fees to be capitalised.
Required: (a) Income and Expenditure Account (b) Balance Sheet as on Chaitra 2073.
Following informations are given:
Budget Heads | Annual Budget Rs. | Expenditures upto Baishakh Rs. |
Employee remuneration | 9,00,000 | 7,00,000 |
Allowances | 2,00,000 | 1,20,000 |
House rent | 1,00,000 | 60,000 |
Furniture and fixtures | 1,50,000 | 1,00,000 |
Office supplies | 80,000 | 60,000 |
Machinery and tools | 2,50,000 | 2,00,000 |
Expenditures for the month of Baishakh:
Baishakh 5 : Paid Rs. 10,000 to pay account allowance.
Baishakh 10 : Paid Rs. 8,000 to purchase office supplies.
Baishakh 12 : Paid of Rs. 15,000 to pay house rent.
Baishakh 18 : Paid of Rs. 4,000 to purchase stationery.
Baishakh 26 : Distributed salary of Rs. 52,500 and allowance of Rs. 5,000 for the month of Shrawan after deducting Provident Fund of Rs. 11,000 and Income Tax of Rs. 2,000.
Required: Budget Sheet
A trader started business with Rs. 2,00,000, at the end of year his position was as under:
Furniture: Rs. 1,00,000
Cash: Rs. 50,000
Creditors: Rs. 20,000
Debtors: Rs. 1,00,000
Stock: Rs. 30,000
Additional information:
i. Drawing for his personal use: Rs. 40,000
ii. Bad debts: Rs. 5,000
iii. Depreciate Furniture: 10%
Required: (a) Closing Statement of Affairs (b) Statement of Profit and Loss
Paper Overview & Analysis
Set D
Year
Model Question
Type
75
Full Marks
32
Pass Marks
3 Hours
Duration
19
Question Items
Question Type Breakdown
Group Breakdown