Mock Test Accountancy class 11
Set 1 : Maximum Marks: 45
Duration : 1 hour 30 minutes
Q:1 The process of accounting does
not end even after transactions have been classified in various ledger
accounts. Do you agree? If yes, what all steps are involved in the process of
accounting once transactions have been classified? (3)
Q:2 Give the terms used for the following items:
(i)
The owner withdrew Rs. 12,000
from the bank account of the business to pay school fees of his son.
(ii)
Assets which neither have any
real value nor have any physical form.
(iii)
Documentary evidence in support
of a business transaction. (3)
Q:3 (a). Zeba
Construction Ltd. gets a contract of Rs.500 crore to build an elevated road to
be completed in 5 years. The director of the company wants to determine profit
or loss on the contract only after completion of the contract. Do you think the
director is justified in his approach? Support with the help of accounting
principle involved.
(b). A company has been charging depreciation@ 10%p.a. on original
cost method. It now wants to change the method from original cost to
diminishing balance method, the rate of depreciation being 15%p.a. Can it do
so? Support with the help of accounting principle involved. (3+3=6)
Q:4 Differentiate between Cash and Accrual Basis of
Accounting on the basis of:
a.
Technical Knowledge
b.
Legal Position
c.
Profit or Loss
d.
Reliability (4)
Q:5 Sonam started business with a capital of Rs.1,00,000 out
of which deposited Rs. 20,000 immediately in bank. Following transactions took
place during the year:
1.
Purchased goods for cash Rs.
20,000 and on credit Rs. 30,000.
2.
Sold goods costing Rs. 30,000
at a profit of 33 1/3%, 75% payment received in cash.
3.
Interest due but not received
Rs. 1,000. Unearned rent Rs. 2,000.
4.
Purchased cycle for son Rs.
2,000. Goods withdrawn for personal use Rs. 1,000.
5.
Goods costing Rs. 4,000, sale
price Rs. 5,000 given as charity.
Use accounting equation to give effect to above
transactions. (6)
Q:6 (a)Raman Kumar started
business on 1st January 2015 with capital of Rs.1,50,000 and a loan
of Rs. 40,000 taken from Punjab National Bank. On 31st
December,2015, his assets were Rs.3,00,000. Find out his capital on 31st
December,2015 and Profit made or Loss incurred during the year 2015.
2. (a) Tia commenced business on
1st January 2015 with a capital of Rs.6,00,000 and a loan of Rs.
40,000 borrowed from Citibank. On 31st December,2015 his assets were
Rs.8,00,000. Calculate his closing capital and profit earned during the year.
(b) If in the above case, the
proprietor had introduced fresh capital of Rs. 40,000 and had withdrawn
Rs.10,000 for personal purpose, calculate his profits. (3+1=4)
Q:6 Rajesh has just got a job as
an accountant in a company. While preparing the books of accounts, he applied
the following rules.
A.
He treated ‘Prepaid Rent’ as an
expense account.
B.
His firm received interest of
Rs. 6,000 on its investments. He applied the rule ‘Increase in revenues are
credits, while decrease are debits.’
C.
He applied the rule ‘Increase in
liabilities are debits; decrease are credits’ while preparing the Creditors
Account.
Is he correct in applying the rules? Justify. (3)
Q:7 State true/ false, giving reason:
Transfer Vouchers are
prepared for cash transactions. (1)
Q:8 Journalise the following transactions in the books of
Jaspal Traders. (6)
|
2015
|
|
|
April 1
|
Cash in hand Rs.
1,20,000; Cash at Bank Rs.1,59,000;Furniture Rs. 7,000; Raju (Dr.) Rs.1,500;
Shalu(Dr.) Rs.1800; Loan from Akash Rs.10,000; Madan(Cr.) Rs.45,000;
Nisha(Cr.) Rs.2,800
|
|
April 5
|
Received Rs. 2,500
from Nisha in full settlement of her account.
|
|
April 8
|
Bought goods from
Trisha for Rs.2,00,000 at 5% cash discount and 10% trade discount. Half of
the amount paid by cheque at the time of purchase.
|
|
April 10
|
Paid Income Tax of
Rs. 2,160 by cheque.
|
|
April 16
|
Purchased an old
furniture for Rs. 18,000 from Yadav. Paid Rs. 2,600 on its repairs and Rs.500
on its carriage.
|
|
April 19
|
Bought shares in
‘Colgate Ltd’ for Rs. 50,000 and brokerage paid @2%. All the payment is made
by cheque.
|
|
April 23
|
Goods costing
Rs.15,000 sold at a profit of 33 1/3% on cost
|
|
April 25
|
Interest on loan from
Akash Rs. 1,000 due but not paid.
|
|
April 28
|
Goods damaged by fire
Rs. 2,500 and Insurance Co. accepted claim Rs. 1,600.
|
Q:9 Prepare Cash, Furniture
and Nisha’s ledger for the above Journal.
(4)
Q: 10The following Trial Balance
as on 31st March,2015 was drawn from the books of D.K.Traders:
Redraw the correct Trial Balance.
(5)
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Heads of Accounts
|
L.F.
|
Dr. Balance(Rs.)
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Cr. Balance(Rs.)
|
|
Building
|
|
60,000
|
|
|
Machinery
|
|
17,000
|
|
|
Returns Outward
|
|
2,600
|
|
|
Cash
|
|
400
|
|
|
Bad debts
|
|
2,800
|
|
|
Discount Received
|
|
3,000
|
|
|
Bank Overdraft
|
|
10,000
|
|
|
Creditors
|
|
50,000
|
|
|
Purchases
|
|
1,00,000
|
|
|
Capital
|
|
|
73,600
|
|
Fixtures
|
|
|
5,600
|
|
Sales
|
|
|
1,04,000
|
|
Debtors
|
|
|
60,000
|
|
Interest Received
|
|
|
2,600
|
|
|
|
2,45,800
|
2,45,800
|
MOCK TEST ACCOUNTANCY
11: SET 2
Set 1 : Maximum Marks: 45
Duration : 1 hour 30 minutes
Q:1 Enter the following transactions in a Cash Book with
Cash and Bank Columns: (6)
2015 Rs.
Dec 1 Started
business with Cash 50,000
Dec 2 Deposited into Bank 29,000
Dec 3 Received cheque from Raja & Co. 800
Discount allowed 20
Dec 5 Withdrew
cash from bank for private use 240
Dec 14 Received cheque from Kamla 395
Discount allowed 15
Dec 16 Kamla’s cheque endorsed to Bala in full
settlement of Rs 425
Dec 29
Paid Bills Payable by Cheque 1,000
Dec 30
Deposited into bank, balance of cash in
excess of 450
Q:2 A. Enter the following transactions in the petty cash
book of Sh. Rajpal Yadav with appropriate analysis columns. Balance it on 15th
May 2015 and show the amount which should be received from the cashier to make
up the amount of the ‘imprest’ Rs.5000.
|
2001
|
|
Rs.
|
|
May 1
|
Received from cashier
Rs.4720, the amount required to make up the amount of the ‘imprest’
Purchased stamps
Paid for carriage
|
5000
400
300
|
|
May 3
|
Paid for office
cleaning
Paid for telegram to
Bahadur Singh
Paid railway fare
Paid bus fare
|
200
250
350
400
|
|
May 8
|
Paid for telephone
calls
Tea to office staff
|
240
220
|
|
May 10
|
Paid reward to
servants
Bought notebooks for
office
Paid wages to casual
labour
|
150
580
400
|
|
May 12
|
Purchased Pens and
Pencils
Paid for envelopes
|
520
250
|
|
May 15
|
Paid for repair to
typewriter
|
200
|
(3)
Q:3Prepare proper Subsidiary Books of M/s Gupta Traders, New
Delhi, who deals in Readymade Garments: (6)
|
2015
|
|
|
Feb 5
|
Purchased from Karan
Bros.
100 shirts @ Rs.420
each
40 Trousers @ Rs.700
each
Trade Discount @ 15%
|
|
Feb 10
|
Sold to Mahima
Traders
50 shirts @ Rs.550
each
15 Trousers @ Rs.900
each
Trade Discount @ 10%
|
|
Feb 12
|
Goods Returned to
Karan Bros.
5 shirts @ 420 each
2 Trousers @ Rs.700
each
|
|
Feb 16
|
Purchase of machinery
on credit from Rama Sons for Rs.10,000
|
|
Feb 24
|
Goods returned by
Mahima Traders:
4 shirts @ Rs.550
each
2 Trousers @ Rs.900
each
|
|
Feb 28
|
Goods worth Rs.2,100
given away as charity
|
Q:4 Mention the subsidiary books in which following transactions
are recorded along with reason thereof:
(i)
Purchase of furniture on credit
for use in shop.
(ii)
Sale of goods for cash.
(iii)
Defective goods sold to Babita
on credit worth RS. 4,000 were returned by her. (3)
Q:6 Mention any two items which are not recorded in an
Amended Cash Book. (1)
Q:7 Overdraft as per Cash Book is Rs. 10,000. Cheques
deposited but not credited Rs. 2,500. Cheques issued but not encashed Rs.
3,500. What is the balance as per Pass Book? (1)
Q:8 On 30th September,2015, Pass Book showed a
credit balance of Rs. 2,500 and Cash Book showed a bank overdraft of Rs. 1,000.
Efforts were made to reconcile the two bank balances. On comparison of Cash
Book and Pass Book, following points were revealed:
(i)
Out of Rs. 12,000, cheques
issued, Rs. 10,000 cheques were presented for payment till 30th
Sepetember,2015.
(ii)
Out of Rs. 17,000, cheques
deposited, Rs. 12,000 cheques were cleared and credited ill 30th
Septembr,2015.
(iii)
Rs. 4,000 cash paid on account
of salaries were wrongly recorded in the book column of the Cash Book.
(iv)
Rs. 2,000 was wrongly credited
in the Pass Book by the Bank on account of cheque cleared, which was never
deposited by the proprietor.
(v)
Interest on overdraft charged
by the bank amounted to Rs. 500.
(vi)
Interest on Investment directly
credited in the bank amounted to Rs.
1,000.
Prepare a Bank Reconciliation Statement from the given
information. (8)
Q:9 On 31st July,2015, the bank balance as per
Pass Book was Rs. 14,000 debit. Following difference were found on comparison
of Pass Book and Cash Book:
(i)
Out of the total cheques
amounting to Rs. 15,000 deposited, a cheque of Rs. 1,250 was dishonoured but
not recorded in Cash Book and cheques amounting to Rs. 7,700 were not cleared
till July 31, 2015.
(ii)
Out of the total cheques
amounting to Rs. 12,000 issued, a cheque of Rs. 5,200 was dishonoured as
signatures differed and it was not recorded in the Cash Book.
(iii)
Bank Charges for dishonoured
cheques amounting to Rs. 50 were debited by the Bank but not recorded in the
Cash Book.
Prepare the Bank Reconciliation
Statement and ascertain the balance as per the Cash Book. (4)
Q:10 ‘The terms Depreciation and Depletion mean one and the
same thing.’ Do you agree with the given statement? Give reason. (1)
Q:11 A pharmaceutical manufacturer has just developed and
registered a patent for a rare medicine. Which term will appear in its Profit
and Loss Account regarding the cost of patent written-off? (1)
Q:12On 1.4.2014, following balance appeared in the books on
M/s Naveen Bros. :
Machinery Account Rs.
1,50,000
On 1.10.2014, a part of machine purchased for Rs.60,000 on
1.4.2011 was sold for Rs. 22,500. On the same date a new machine costing Rs.
24,000 was purchased. The depreciation was provided @ 10% p.a. on original cost
of the asset. However, no depreciation was to be charged on the asset in the
year of sale. Prepare Machinery Account
for the year ending 31.3.2013, 2014 and 2015. (8)
Q:13 Distinguish between Provision and Reserve on the
following basis:
(i)
Purpose
(ii)
Distribution
(iii)
Compulsion (3)
