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Home /  Education News
  • 26896 Views
  • Estimated reading time : 94 Minutes
  • Accounting Model Questions, New Syllabus, NEB Accounting XI

  • Arjun EP
  • Published on: April 5, 2021

  •  

    Accounting XI

    New Syllabus

     (Model Question 2077)

    [Subject code: Acc. 103]

    Time: 3 hours,    Full Marks: 75

     

    Section A: Very Short Answer Questions

    (Attempt All Questions) [11 questions x 1 mark= 11]

    Q1: What is book-keeping?  

    Q2: Mention any two objective of accounting.

    Q3: Write the meaning of money measurement concept.

    Q4: Define trial balance.

    Q5: What is cross cheque?

    Q6: Write about error of principle.

    Q7: What is reserve?

    Q8: Write any one difference between capital expenditure and revenue expenditure.

    Q9: What is dhapot?

    Q10: Define bank cash book.

    Q11: State the use of budget sheet.

     

    ###########

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    Trial Balance & Adjusted Trial Balance

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    Bank Reconciliation Statement (BRS)

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    Final Accounts: Class 11

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    Capital and Revenue

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    Non-Trading Concern

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    Government Accounting

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    Goswara Voucher (Journal Voucher)

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    ###########

     

    Section B: Short Answer Questions

    Attempt All Questions [8 questions x 5 marks = 40]

    Q12A: State accounting process in brief. [3]

     

    Q12B: Prepare accounting equation from following details: [2]

    Started business with cash Rs 200,000 and furniture Rs 500,000.

    Purchase goods worth Rs 80,000 in cash and 70,000 on credit.

    Paid rent Rs 90,000.

    Sold goods costing Rs 20,000 in cash for Rs 25,000.

     

    Q13A: 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 in bank of Rs 30,000.

    Poush 22: Paid of Rs 32,000 to Ram through cheque for settling account of Rs 35,000.

    Poush 27: Received a cheque from Aviral of Rs 19,000 and cash Rs 3,000 for selling machine.

    (Required: Triple column cash book [3]

     

    Q13B: Transactions related to furniture purchases are given below:

    Dec 5: Purchase from Karuna Suppliers:

    10 coffee tables for Rs 1,00,000

    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 [2]

     

    Q14: 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 [5]

     

    Q15A: 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. [3]

     

    Q15B: Following information are extracted from the trial balance:

    Particulars

    Debit Amount

    Credit Amount

    Sundry debtors

    52,000

     

    Provision for bad debts

     

    7,000

    Bad debts

    2,000

     

    Additional information:

    (a) Bad debt Rs. 2,000; (b) Provision for bad debt @ 5%

    Required: Provision for bad debt account [2]

    Or

    An unadjusted trial balance of ‘A’ trading concern is given below

    Particulars

    Amount

    Particulars

    Amount

    Land and building

    400,000

    Capital

    425,000

    Debtors

    225,000

    Creditors

    120,000

    Bank balance

    145,000

    Sales

    515,000

    Salary

    80,000

    Loan

    250,000

    Office expenses

    40,000

     

     

    Purchase

    380,000

     

     

    Cash

    25,000

     

     

    Prepaid expenses

    15,000

     

     

     

    13,10,000

     

    13,10,000

    Additional information:

    (a) Office expenses prepaid) Rs 3,000

    (b) Land appreciated by 10%

    (c) Salary outstanding) Rs. 1500

    (d) Bad debts written off) Rs. 2500

    (e) Prepaid insurance expire Rs. 10,000

    Required: Adjusted Trial balance [5]

     

    Q16: On 1st January 2018, ABC Company purchased a motor van at Rs 6,00,000. On 1st July, 2019, company purchased another motor van worth Rs 8,00,000. On 1st July 2020, the first motor van was sold bearing the loss of Rs 50,000 and on the same date company purchased another motor van for Rs 10,00,000. Depreciation was charged @10% p.a. under fixed installment method. The accounts of the company were closed on 31st December each year.

    Motor Van account for the first three years (1+2+2 = 5)

     

     

    Q17: Trial balance of Nabin Trader on Chaitra 30, 2071 is given below:

    Particulars

    Amount Dr

    Particulars

    Amount Cr

    Selling expenses

    5,000

    Gross profit b/d

    87,000

    Interest

    5,000

    Creditors

    8,000

    Debtors

    25,000

    Bank loan

    19,000

    Bad debts

    2,000

    Provision for bad debts

    2,000

    Insurance

    1,000

    Capital

    50,000

    Salaries

    20,000

     

     

    Investment

    40,000

     

     

    Cash

    14,000

     

     

    Machinery

    50,000

     

     

    Rent

    4,000

     

     

     

    166,000

     

    166,000

    Additional information:

    (a) Depreciation on machinery 10% p.a

    (b) Salary payable Rs 4,000)

    (c) New bad debt Rs 1,000

    Required: Profit & Loss account and Balance sheet [3+2 = 5]

     

    Q18: Red Cross Provides following information:

    Balance sheet (as on 1 January 2018)

    Liabilities

    Amount

    Assets

    Amount

    Capital

    400,000

    Fixed assets

    300,000

    Loan

    60,000

    Investment

    100,000

     

     

    Closing cash balance

    60,000

     

    460,000

     

    460,000

     

    Receipt and Payment of the Red Cross are given below on 31st December 2018:

    Receipts:

    Subscriptions Rs 50,000

    Entrance fees Rs 30,000

    Interest on investment Rs 5,000.

    Sales of old furniture Rs 5,000.

     

    Payments:

    Tournament expenses (sponsor) Rs 10,000.

    Wages Rs 20,000

    Printing Rs 7,500

    General expenses Rs 12,000

    Newspaper 1,800.

    Additional information:

    (a) Printing outstanding Rs 500 and wages outstanding Rs 3,000.

    (b) 40% of the entrance fees is to be capitalised.

    (c) Fixed assets depreciate by 10%.

    (d) Subscription due for the year Rs 22,000.

    Required: (1) Receipt and payment account; (2) Income and expenditure account [2+3 = 5]

     

    Q19A: Shweta keeps her accounts under single entry system. She started a business with cash Rs 200,000 on 1st January 2017. She withdraws Rs 2,000 per month for household works. The position of her business at the end of the year was as follows:

    Fixes assets Rs 190,000

    Creditors Rs 50,000

    Inventory Rs 85,000

    Debtors Rs 40,000

    Due expenses Rs 10,000

    Bank balance Rs 60,000

    Required: (a) Closing statement of affairs; (b) Statement of profit and loss [1+1 = 2]

     

    Q19B: The following extracted transactions of District Level Office are given:

    Chaitra 1: House rent @ Rs 8,000 per month for three months paid to house owner Sailesh.

    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 NaSu Ramchandra.

    Chaitra 30: Staff remuneration of Chaitra Rs 30,000 (without provident fund) was distributed after deducting PF Rs 6,000, social security Rs 300 and income tax Rs 1,500.

    Required: Journal vouchers [1+1+1 =3]

    Or

    The following information are given by District Level Office:

    Budget sub-heads

    Annual budget

    Expenses upto Falgun

    Employees remuneration

    800,000

    400,000

    Office materials

    120,000

    60,000

    House rent

    140,000

    80,000

    Furniture and fittings

    80,000

    35,000

    Vehicles

    500,000

    350,000

    Expenditure for the month of Chaitra:

    Chaitra 1: Purchase furniture Rs 10,000.

    Chaitra 5: Purchase vehicle Rs 100,000.

    Chaitra 10: Advance rent paid Rs for Rs 10,000.

    Chaitra 28: Distributed Rs 35,000 for the employee’s remuneration after deducting income tax Rs 1,000 and PF Rs 8,000

    Required: Budget sheet [5]

     

    #####

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    #####

     

    Section C: Long Answer Questions

    Attempt All Questions [3 questions x 8 marks = 24]

    Q20: Information of Samriyan Enterprises is given below:

    (a) Started business with cash Rs 200,000

    (b) Purchase goods of Rs 15,000 from Ram

    (c) Goods sold in cash Rs 18,000.

    (d) Cash paid to Ram Rs 10,000

    (e) Again goods purchase from Ram Rs 20,000

    (f) Paid to Ram Rs 24,000 in full settlement of his account

    Required: (1) Journal entries; (2) Necessary ledgers; (3) Trial balance [3+4+1 = 8]

     

    Q21: The trial balance of Deepak Store as on 31st December 2020 is given below:

    Particulars

    Amount

    Particulars

    Amount

    Plant and machinery (P&M)

    3,60,000

    Gain on sales of furniture

    10,000

    Salary expenses

    71,000

    Creditor

    96,000

    Cost of goods sold

    7,55,000

    Sales

    10,53,000

    Debtors

    34,000

    Accumulated Depn on P&M

    45,000

    Stock at end

    1,10,000

    15% Bank loan

    56,000

    Drawings

    15,000

    Capital

    3,50,000

    Investment

    1,20,000

    Interest on investment

    10,000

    Goodwill

    48,500

     

     

    Selling expenses  

    8,000

     

     

    Cash

    40,000

     

     

    Repair expenses

    34,000

     

     

    Prepaid expenses

    24,000

     

     

     

    16,20,000

     

    16,20,000

    Additional information:

    (a)  Salaries are 80% of selling and 20% administration expenses

    (b) Insurance expires of Rs 18,000

    (c) Depreciation on plant and machinery is 15%.

    Required: (1) Income statement based on NFRS; (2) Balance sheet based on NFRS [4+4 = 8]

    Or

    What is government accounting? Explain the features of new government accounting system. [3+5]

     

    Q22A: Following transactions are given by Local Level Office:

    Marg 1: Balance at bank Rs 75,000

    Marg 3: Received bank transfer order Rs 325,000 as a budget release.

    Marg 9: Issued a cheque of Rs 20,000 for the purchase of furniture.

    Marg 22: Cleared advance of Subodh Regmi against of submission of bill of books purchase amount Rs 10,000 and cash Rs 3,000

    Marg 30: Distributed total salary of Rs 88,000 after deducting of provident fund Rs 16,000 and income tax Rs 4,000

    Required: Bank cash book [4]

     

    Q22B: Following information is given:

    Budget heads

    Annual budget

    Expenditures upto

    Expenditures upto

     

     

    Bhandra

    Ashwin

    Salaries

    275,000

    55,000

    24,000

    Allowances

    80,000

    10,000

    6,000

    Office expenses

    60,000

    15,000

    3,000

    House rent

    150,000

    25,000

    12,000

    Furniture and fitting

    75,000

    35,000

    –

    Machinery

    200,000

    –

    80,000

     

    840,000

    140,000

    125,000

    Additional information:

    (a) Revolving fund received Rs 295,000.

    (b) Cash balance Rs 2,000.

    (c) Unclear advance Rs 15,000

    (d) Loan by nearby office Rs 3,000

    Required: Statement of expenditure [4]

     

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