Accounts paper Class 11 sem 1 2019-20

Section A
Attempt all questions from this section.

Q1]
a. What do you mean by Principle of conservatism?
b. What do you mean by posting in a ledger?
c. What is imprest system in Petty Cash Book?
d. Mention any 2 uses of charging depreciation.
e. A bill for Rs.10,000 discounted with the bank for Rs.9,800 was returned dishonoured, noting
charges amounting to Rs.500. Pass the journal entry of dishonour in the books of the drawer.
f. The Input CGST a/c of a trader is given below:
Date Particulars Amt Date Particulars Amt
Aug 1 To Creditor a/c 600

Input CGST and SGST is charged on purchases @ 6% each. Pass the entire journal entry of the
transaction.
g. Give the journal entries for charging depreciation when Accumulated depreciation a/c is maintained
and when it is not maintained.
h. Differentiate between Net purchases and Adjusted purchases.
i. Distinguish between retiring of bill and renewal of bill.
j. A bill for Rs.20,000, endorsed to a creditor for Rs.22,000 in full settlement, was dishonoured on
maturity, noting charges amounting to Rs.200. Pass the journal entry for dishonour in the books of the
drawer. [10 *2]

Section B.
Attempt any 5 questions from this section.

Q2]
a. Journalise the following transactions:
Aug 1: Paid rent Rs.30,000, 1/4th of the premises were occupied by the proprietor for personal
residence.
Aug 5: Sold goods to Ravi costing Rs.20000 at a profit of 25% above cost, less 10% trade discount,
applicable CGST and SGST @ 6% each.
Aug 7: Paid carriage Rs.3,000 on the above sale. As per agreement, Ravi was to bear 1/3 rd cost of
transportation.
Aug 9: Ravi paid Rs.25,000 in full settlement.

b. Cash Book of Abhay showed an O/D of Rs.30,000 on 31.03.19. On scrutinising it was found
that :
i. Receipt side of Cash Book was undercast by Rs.20,000.
ii. A cheque of Rs.12,000 received from his customer and deposited into bank was dishonoured and
debited by bank before 31st March, but no entry for dishonour was passed in the Cash book.
iii. Bank had debited Rs.1400 as interest on overdraft which was also debited in the Cash Book.
iv. Cheques issued amounting to Rs.14,000 had not been presented for payment to the bank till 31 st
March.
v. Cheques amounting to Rs.10,000 deposited into the bank and entered in the Receipt side of the
Cash Book have not been credited by the bank by 31st March.
vi. A cheque for Rs.6,000 drawn by another customer has been debited by the bank in Abhay’s a/c.
Prepare Amended Cash book and BRS on that date. [4+8]
Q3] On 1.4.19, Rajiv sold goods worth Rs.50,000 to Sanjiv with applicable CGST and SGST @ 6%
each. Sanjiv paid Rs.26,000 immediately by cheque and accepted two bills for Rs.10,000 and Rs.20,000
for 3 months and 4 months respectively.
The first bill was immediately discounted with the bank @ 6% p.a whereas the second bill was
endorsed to a creditor, Tanveer, a creditor for Rs.22,000 in full settlement.
On maturity, the first bill was duly honoured. However, on maturity of the second bill, Sanjeev
requested Rajiv to accept a cheque of Rs.6,500, including noting charges of Rs.500 and a fresh bill for
Rs.15,000 for 2 months.
This bill was sent to bank for collection and on maturity was dishonoured. Sanjiv was adjudged
insolvent and 60 paisa in a rupee was realised from his estate.
Pass the entries in the books of Rajiv and Sanjiv. [12]

Q4]
A. The Pass book showed an overdraft balance of Rs.2000 on 30.6.18. Prepare a BRS from the
following information:
a. The receipt side of the cash book has been over added by Rs.1100.
b. Cheques drawn but not presented till July – Rs.1670.
c. Discount received from a supplier Rs.200 has been included in the bank column of the cash
book.
d. Rs.750 directly deposited in the bank was not entered in the cash book.
e. A cheque payment of Rs.1230 in April has been entered in the cash book as Rs.1320.
f. The bank has charged the business bank a/c with Rs.2000 which should have been passed
through the private bank a/c of the owner.
g. Bank charges of Rs.180 have not been entered in the cash book.
h. Cheques to the value of Rs.3780 received from customers entered in the cash book have not
yet been cleared by the bank.

B. Pass the journal entries for the following transactions:

1. The proprietor withdrew cash worth Rs.5,000 from the bank and stock worth Rs.10,000
from the business for personal use. The goods were purchased initially with CGST and SGST @ 6%
each.
2. A bill for Rs.5,000 payable after 2 months was retired by the drawee enjoying a rebate @
6% p.a.
3. Goods originally invoiced at Rs.5,040 were distributed as free sample. The goods were
purchased at Trade discount of 10% and CGST and SGST @ 6% each.
4. Salary paid amounted to Rs.25,000 and salary due amounted to Rs.5,000. [8+4]

Q5] The following balances were extracted from the ledger of Akash on 1.4.18:
Machinery a/c - Rs.10,00,000
Provision for depreciation a/c - Rs.400,000.
The following transactions took place during the financial year 2018-19:
a. On 1.10.18, a portion of the machinery with book value of Rs.70,000 on 1.4.18 (purchased on 1.4.15)
was sold for Rs.30,000.
b. A new machine was purchased to replace the same on 1.1.19 costing Rs.400,000, CGST and SGST @
6% each.
Prepare Machinery a/c and Provision for depreciation a/c for the years 2018-19 and 2019-20.
The company charges depreciation @ 10% p.a. SLM on 31st March every year. [12]
Q6] Megh Kumar draws the following Trial Balance on 31.03.19 with obvious mistakes and
omissions. You are required to redraft the correct Trial Balance:
Particulars Debit Credit
Purchases 60,000
Reserve fund 20,000
Sales 100,000
Purchases return 1,000
Sales return 2,000
Opening stock 30,000
Closing stock 40,000
Expenses 20,000
Outstanding expenses 2,000
Bank balance 5,000
Assets 50,000
Debtors 80,000
Creditors 30,000
Capital 94,000
Suspense a/c 10,000
Total. 272,000 272,000
On 31.03.19, it was discovered that the following transactions were omitted to be recorded:
a. Goods were purchased for Rs.10,000 on credit, less Trade discount @ 10%. The goods were however
included in stock.
b. Bank has debited Rs.1,000 as bank charges but was not recorded in the Cash book.
c. Megh has withdrawn goods worth Rs.2,000 for household use.
d. A credit sale of Rs.3,000 was recorded in the books as credit purchases. [12]

Q7] Prepare a triple column cash book for the month of April, 2019:
1. Cash in hand Rs.500 and bank overdraft Rs.3800.
4. Introduced cash Rs.8000 as further capital of which Rs.4000 was deposited into bank.
8. Sold goods for cash Rs.4300, CGST and SGST @ 6% each.
10. Collected from Ankur Rs.10000 by cheque against Rs.11,000 in full settlement.
11. Purchased goods for cash Rs.2400 and by cheque Rs.3600, IGST @ 18%.
13. Paid Mr.B by cheque Rs.2800, against a credit of Rs.3,000 in full settlement.
14. Paid commission to agent Rs.600.
15. Purchased office furniture by cash Rs.2500, CGST and SGST @ 6% each.
16. Paid rent Rs.200.
17. Drew a cheque for personal use Rs.1800.
18. Cash sales Rs.5600, less cash discount @ 10%, applicable CGST and SGST @ 6% each.
20. Collected from Santosh Rs.4500 in cash and deposited into bank the next day.
22. Dividend received Rs.250 by cheque and deposited into bank.
28. Paid office salaries by cheque Rs.2200.
30. Deposited cash in excess of Rs.500 into the bank. [12]

Q8]
a. Prepare Sales day book and Purchases day book of Kunal Furniture Mart from the following
transactions:
June 7: Purchased from Arora & Co 10 chairs @ Rs.200 each and 1 table for Rs.600. Trade discount @
10% and applicable CGST and SGST @ 6% each.
June 10: Sold goods to Sudha furniture company 2 almirahs @ Rs.2,000 each, less Trade discount @
15%. Applicable CGST and SGST 6% each. Carriage paid amounted to Rs.500.
June 15: Sold goods to Meera Mart for cash 10 tables @ Rs.1,000 each, less trade discount @ 10%.
Applicable CGST and SGST @ 6% each.
June 18: Purchased from Chandra and Co. 5 chairs @ Rs.300 each, less Trade discount @ 10%.
Applicable CGST and SGST @ 6% each. Carriage paid amounted to Rs.200.
June 20: Sold to Aryan and Co. 5 chairs @ Rs.500 each, less trade discount @ 10%. Applicable CGST
and SGST @ 6% each.

b. From the information given by Mr. Lahoti, prepare two personal accounts of Naman and Aman for
the month of April, 2019:
Apr 1: Lahoti owes Naman Rs.15,000 whereas Aman owes Lahoti Rs.20,000.
Apr 4: Lahoti purchased goods worth Rs.60,000 @ 10% trade discount from Naman, applicable CGST
and SGST @ 6% each.
Apr 6: Lahoti sold goods to Aman list price Rs.32,000 at Rs.30,000, CGST and SGST @ 6% each.
Apr 17: Lahoti purchased goods of list price Rs.27,000 at Rs.25,000 from Naman and sold these goods
to Aman at a profit of 60% on cost, applicable CGST and SGST @ 6% each for both the transactions.
Apr 18: Lahoti rejected 10% of Naman’s goods purchased on 4th April.
Apr 22: Aman cleared off half his total dues to Lahoti enjoying 5% cash discount.
Apr 26: Naman’s total dues (less Rs.10,000 held back) were cleared by cheque, enjoying a discount of
Rs.1,000.
Apr 30: Aman became insolvent and 50 paisa in a rupee was realised from his estate. [4+8]

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