Accounting Model Questions, New Syllabus, NEB Accounting XI
Arjun EP
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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Click on link for YouTube videos: |
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Accounting Equation |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger |
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Subsidiary Book |
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Cash Book |
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Trial Balance & Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Final Accounts: Class 11 |
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Adjustment in Final Accounts |
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Capital and Revenue |
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Single Entry System |
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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:
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Particulars |
Debit Amount |
Credit Amount |
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Sundry debtors |
52,000 |
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Provision for bad debts |
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7,000 |
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Bad debts |
2,000 |
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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
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Particulars |
Amount |
Particulars |
Amount |
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Land and building |
400,000 |
Capital |
425,000 |
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Debtors |
225,000 |
Creditors |
120,000 |
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Bank balance |
145,000 |
Sales |
515,000 |
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Salary |
80,000 |
Loan |
250,000 |
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Office expenses |
40,000 |
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Purchase |
380,000 |
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Cash |
25,000 |
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Prepaid expenses |
15,000 |
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13,10,000 |
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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:
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Particulars |
Amount Dr |
Particulars |
Amount Cr |
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Selling expenses |
5,000 |
Gross profit b/d |
87,000 |
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Interest |
5,000 |
Creditors |
8,000 |
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Debtors |
25,000 |
Bank loan |
19,000 |
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Bad debts |
2,000 |
Provision for bad debts |
2,000 |
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Insurance |
1,000 |
Capital |
50,000 |
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Salaries |
20,000 |
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Investment |
40,000 |
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Cash |
14,000 |
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Machinery |
50,000 |
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Rent |
4,000 |
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166,000 |
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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 |
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Capital |
400,000 |
Fixed assets |
300,000 |
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Loan |
60,000 |
Investment |
100,000 |
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Closing cash balance |
60,000 |
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460,000 |
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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:
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Fixes assets Rs 190,000 |
Creditors Rs 50,000 |
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Inventory Rs 85,000 |
Debtors Rs 40,000 |
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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 |
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Employees remuneration |
800,000 |
400,000 |
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Office materials |
120,000 |
60,000 |
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House rent |
140,000 |
80,000 |
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Furniture and fittings |
80,000 |
35,000 |
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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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Click on link for YouTube videos |
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Accounting for Share |
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Share in Nepali |
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Debentures |
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Final Accounts: Class 12 |
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Final Accounts in Nepali |
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Work Sheet |
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Ratio Analysis (Accounting Ratio) |
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Fund Flow Statement |
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Cash Flow Statement |
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Theory Accounting Xii |
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Theory: Cost Accounting |
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Cost Accounting |
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LIFO−FIFO |
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Cost Sheet, Unit Costing |
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Cost Reconciliation Statement |
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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:
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Particulars |
Amount |
Particulars |
Amount |
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Plant and machinery (P&M) |
3,60,000 |
Gain on sales of furniture |
10,000 |
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Salary expenses |
71,000 |
Creditor |
96,000 |
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Cost of goods sold |
7,55,000 |
Sales |
10,53,000 |
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Debtors |
34,000 |
Accumulated Depn on P&M |
45,000 |
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Stock at end |
1,10,000 |
15% Bank loan |
56,000 |
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Drawings |
15,000 |
Capital |
3,50,000 |
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Investment |
1,20,000 |
Interest on investment |
10,000 |
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Goodwill |
48,500 |
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Selling expenses |
8,000 |
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Cash |
40,000 |
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Repair expenses |
34,000 |
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Prepaid expenses |
24,000 |
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16,20,000 |
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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:
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Budget heads |
Annual budget |
Expenditures upto |
Expenditures upto |
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Bhandra |
Ashwin |
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Salaries |
275,000 |
55,000 |
24,000 |
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Allowances |
80,000 |
10,000 |
6,000 |
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Office expenses |
60,000 |
15,000 |
3,000 |
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House rent |
150,000 |
25,000 |
12,000 |
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Furniture and fitting |
75,000 |
35,000 |
– |
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Machinery |
200,000 |
– |
80,000 |
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|
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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