Accountancy, Class XI
(BBPS-Rohini)
Mid-Term – 2024-25
Time Allowed: 3 Hrs. Maximum Marks:80
Q.NO UPTO BRS Marks
Q1 A ledger is a: 1
(a) Book of original entry (b) Book of final entry
(c) Subsidiary Book (d) Cash Book
OR
Purchase book is a part of:
(a) The Journal (b) The Ledger
(c) The Trading a/c (d) The Balance Sheet
Q2 Which of these is an advantage of accounting: 1
a) Shows the present value of business
b) Window dressing
c) Shows the effect of price level changes
d) Replacement of memory
Q3 Wages paid for the installation of a machinery will be debited to: 1
(a) Wages Account (b) Repair Account
(c) Machinery Account (d) Capital Account
OR
Paid to Vishakha Rs.14,000 in full settlement of Rs.15,000. Posting of Rs.1,000 will
be made to the:
(a) Debit side of Discount a/c (b) Credit side of Discount a/c
(c) Debit side of Cash a/c (d) Credit side of Vishakha a/c
Q4 Current assets do not include: 1
(a) Stock (b) Short term Investment
(c) Prepaid Expenses (d) Unearned Income
Q5 Cash received from Kajal Rs.36,000 after allowing discount @10%. Amount debited 1
to discount account will be:
(a) Rs.3,600 (b) Rs.4,000
(c) Rs.4,400 (d) Rs.40,000
Q6 Which qualitative characteristic of accounting information is reflected when 1
accounting information is clearly presented:
(a) Relevance (b) Reliability
(c) Understandability (d) Comparability
Q7 Last step of Accounting process is: 1
a) Provide information to various parties who are interested in business enterprises
b) Record transaction in the books
c) To make summary in the form of financial statements
d) To classify the transactions under separate heads in the ledger
OR
Which of the following is Revenue Expenditure:
a) Purchase of Investment
b) Building construction expenses
c) Expenses on purchase of Machinery
d) Repair expenses
Q8 In a business ‘Purchase’ refers to: 1
a) Purchase of an article to be used in office
b) Purchase of goods for resale
c) Purchase of an asset to be used in office
d) All of the above
OR
Current Liabilities include:
(a) Debentures (b) Loan form Bank
(c) Trade Payables (d) Internal Liability
Q9 On the basis of following two statements, Identify the correct option out of the 1
following:
Assertion (A): Accounting may be influenced by personal bias.
Reason (R): In some situations, choice has to be made from alternative accounting
policies.
Choose correct option:
a) Both (A) and (R) are correct and (R) is not correct explanation of (A)
b) Both (A) and (R) are correct and (R) is the correct explanation of (A)
c) (A) is True but (R) is False
c) (A) is False but (R) is True
Q10 When goods are sold on credit, the seller prepares: 1
(a) Cash Memo (b) Invoice
(c) Accounting Voucher (d) Transfer Voucher
Q11 Objective of preparing Trial Balance is: 1
a) To ascertain the profit or loss
b) To ascertain the financial position
c) To provide a conclusive proof of the accuracy of the books of accounts
d) To ascertain the arithmetical accuracy of accounts
Q12 Example of Personal Accounts is: 1
(a) Sales Account (b) Goodwill Account
(c) Accrues Interest A/c (d) Interest A/c
OR
Find the correct statement:
(a) Decrease in income is credited (b) Increase in expense is credited
(c) Decrease in revenue is debited (d) Decrease in capital is credited
Q13 As per the Cost Concept, an asset is recorded in the books: 1
(a) At Market Price (b) At Going Concern
(c) At the price on which acquired (d) At liquidation Value
Q14 Ghanshyam is a furniture dealer. Which one of the following will not be recoded in 1
his books:
a) Purchase of Timber Rs.50,000
b) Sofa set worth Rs.40,000 taken to his home
c) Sale of house hold furniture Rs.5,000
d) Gift a table to his friend birthday from business
OR
If the debit as well as credit aspects of a transaction are recorded in the cash book,
it is called:
(a) Compound entry (b) Adjustment entry
(c) Closing entry (d) Contra entry
Q15 Mohan started a business on 1st April, 2024 with a capital of ₹ 7,50,000 and a loan 1
of ₹ 2,00,000 taken from PNB. During 2024-25, he had introduced additional capital
of ₹ 1,25,000 and had withdrawn ₹ 40,000 for personal use. On 31st March, 2025
his assets were ₹ 15,00,000. Find his profit made or loss incurred during the year
2024-25.
(a) Rs.5,50,000 (b) Rs.4,65,000
(c) Rs.13,00,000 (d) Rs.4,25,0000
Q16 Cash Discount may be: 1
a) Received at the time of prompt payment
b) Allowed at the time of bulk sale of goods
c) Received at the time of bulk Purchase of goods
d) Received both at time of prompt payment and bulk purchase of goods
Q17 Everything a firm owns, it also owes out to somebody. This is explained by the 1
__________ concept of accounting:
(a) Going Concern (b) Dual Aspect
(c) Money Measurement (d) Period Principle
Q18 Jaspal Singh dealing in electronic goods and sold 20 TV sets costing Rs.30,000 1
each at Rs.40,000 each. Out of this Rs.5,00,000 were received in cash and the
balance is not yet received. State the amount of revenue as per ‘Cash Basis of
Accounting’.
(a) Rs.5,00,000 (b) Rs.6,00,000
(c) Rs.8,00,000 (d) Rs.2,00,000
Q19 On the basis of following two statements, Identify the correct option out of the 1
following:
Assertion (A): Revenue is matched with expenses incurred to earn revenue under
Matching Principle.
Reason (R): If revenue is recognized as earned, its related costs, whatever paid or
not
should be recognized.
Choose correct option:
a) Both (A) and (R) are correct and (R) is not correct explanation of (A)
b) Both (A) and (R) are correct and (R) is the correct explanation of (A)
c) (A) is True but (R) is False
d) (A) is False but (R) is True
Q20 Due to which of the following, window dressing is prohibited: 1
(a) Convention of Consistency (b) Convention of Full Disclosure
(c) Money Measurement (d) Accounting Period Principle
Q21 Write short note on: 3
a) What are accounting voucher (1 x 3)
b) State the utility of Cash Memo.
c) Why the Cash Voucher prepared.
Q22 During the accounting year 2024-25, Rani had total sales of Rs.6,00,000, out of 3
which 2/3rd is cash sales and balance on credit for two months.
The total expenses were Rs.2,80,000 out of which Rs.70,000 are still outstanding.
He also paid Rs.10,000 (apart from Rs.2,80,000 given previously) for expenses
related to 2023-24.
Calculate his income as per ‘Cash basis of accounting’ for the year 2024-25.
OR
During the accounting year 2024-25, Aman had Cash sales of Rs.6,00,000 and
Credit Sales were 1/3rd cash sales.
The total expenses were paid by him Rs.4,40,000 out of which Rs.20,000 pertained
to 2023-24. Expenses of Rs.30,000 were still to be paid.
Calculate his income as per ‘Accrual basis of accounting’ for the year 2024-25.
Q23 Journalize the following transactions in books of Sarthak Mittal of Samalkha 3
(Haryana) assuming GST 12%.
March 2024
5. Purchase goods for Rs.2,50,000 from Veeru of Karnal.
12. Sold goods costing Rs.60,000 at 50% profit on cost to Munny of Patna (Bihar)
18. Sold goods to Prem of Varanasi (U.P.) costing Rs.2,25,000 at 1/3rd profit less
10% Trade
Discount against cheque.
Q24 Record the following transaction in their appropriate books for the month of June 3
2024.
7. Received a cheque of Rs.3,250 from Riya; discount allowed Rs.150
9. Deposit the above cheque into bank
15. Cheque received from Suresh Rs.1,200
20. Riya cheque returned due to technical error.
30. Suresh cheque was endorsed to Nitin.
Q25 The following balances appeared in the books of Amit on 1st April 2024. 3
Name of Account Amount
Cash 4,000
Bank 10,000
Stock 27,000
Creditor 12,000
Bill Receivable 23,500
Boiler & Plant 30,000
Patents 15,500
Bill Payable 10,000
a) Pass opening entry.
b) Identify the subsidiary book in which the given entry should be passed ‘Defective
goods
sold to Babita on credit worth Rs.4,000 were returned by her’.
Q26 State the first three steps in the process of Accounting. 3
OR
How is the accounting information useful to:
a) Owner
b) Banks and Financial Institutions
c) Government
Q27 In a business, Provision for doubtful debts is created @5% on Debtors every year. 4
Identify and explain the accounting principle involved in this process.
OR
On 25th March 2024 a fire broke out in the premises of Anil Ltd. and destroyed a
part of its plant and machinery. On account of this a sharp decline in production for
the next six months is expected.
The company did not disclosed this fact in its annual report for the year 2023-24.
a) Identify the accounting principle being Violated in such case.
b) Explain the accounting principle which is an exception to the Principle identified
above.
Q28 What are Accounting Standards? Discuss its advantages 4
Q29 On the basis of following information, 4
a) Prepare Ledger accounts of Gaurav: (2+2)
Date Transaction
1/4/2024 Goods purchased from Gaurav Rs.80,000
10/4/2024 Cash paid to Gaurav Rs.32,000
15/4/2024 Some more goods purchased from Gaurav Rs.40,000
18/4/2024 Defective goods return to Gaurav Rs. 4,000
25/4/2024 Gaurav offered a cash discount of Rs.2,000 on prompt payment.
Offer accepted.
b) Give analysis table for above transactions as per ‘Traditional Classification’.
Q30 Following are the transaction of SS Electronics store, Delhi for the month of June 6
2024 (5+1)
Date Transaction
2024,
June
10 Purchase from M/s Sandy Traders
30 Refrigerators @ 13,000 each
20 Microwave oven @ 2,800 each
(-) Trade Discount @ 10%
12 Purchase from M/s Goldy Electronics for office use:
1 HP Laptop @ Rs.60,000
15 Sold to M/s Rasika Enterprises
5 Fully Automatic Washing Machine @ 32,000 each
10 Food Processor @ 4,000 each
(-) Trade Discount @ 5%
20 Purchase from Nalini against Cash Memo No 756
23 Celling Fan @ 2,000 each
24 Purchase from M/s Deepak Traders
25 Smart TV 55” @ 35,000 each
(-) Trade Discount @10%
28 Sold to M/s Bharat Computers
10 LED Monitors for Rs.85,000
5 Mouse @ 500 each
Based of the following transactions, Answers the following:
a) Prepare Purchase and Sales Book for the month of June.
b) Which Source Document will be prepared by the SS Electronics if goods
returned back
on 28th June.
Q31 Record the following transactions into Accounting Equation of Mohit and a Balance 6
Sheet: (5+1)
Transactions Amount
Start business with cash 1,75,000
Purchase from Rohit 50,000
Sold goods to Manish Costing Rs.17,500 for 20,000
Cash paid to Rohit in full settlement 48,500
Rent paid for the next year 1,000
Paid Income tax 3,000
Q32 Journalize the following transactions in books of Sona Traders, Delhi: (GST @12%) 6
a) A motor car was purchased for Rs.80,000. Repair charges on it Rs.5,000.
Payment
through cheque made (GST)
b) Ashok, a debtor became insolvent. Received only 30% from him which is
Rs.3,000.
c) Goods used by owner Rs.3,000 (selling price), costing Rs.3,500 for his parents.
(GST)
d) Provide depreciation on computers costing Rs.1,50,000 @20% p.a. for 9
months.
e) Rent paid by cheque Rs.30,000. 1/3rd of the building used by owner for
residence. (GST)
f) Proprietor sold his personal Car Rs.75,000 and bring this amount into business.
OR
Mahesh, a dealer in stationery items, started his business in the year 2024. Given
below is an extract of his journal. Complete the Journal Entries from the
transaction given below:
In books of Mahesh
Journal
Date Particulars LF Dr.. Cr..
a) ______________ a/c Dr. _______
To ______________ a/c _______
(Pencils of Rs.3,000, selling price
Rs.3,500 distributed as free samples in
school)
b) Cash a/c Dr. _______
To _____________ a/c _______
(Mohan, whose debt of Rs.1,000 was
written off earlier, paid 50% now)
c) ___________ a/c Dr. 7,000
To _____________ a/c 7,000
(Cash received from Ram on behalf of
Shyam)
d) __________ a/c Dr. _______
__________ a/c Dr. _______
To Bank a/c _______
(Life Insurance Premium Rs.8,700, Fire
Insurance Premium Rs.10,000 and
Income tax Rs.4,000 paid by cheque)
e) ___________ a/c Dr. _______
To ___________ a/c _______
To ___________ a/c _______
(Salary paid Rs.40,000 and still
outstanding Rs.10,000)
f) ___________ a/c Dr. _______
To ____________ a/c _______
(Sukesh bought Bonds in Reliance Ltd.
for business of Rs.2,00,000 on which
interest @10% p.a. Interest for the
whole year still pending)
Q33 Prepare Bank Reconciliation Statement of Shri Krishan as on 31st March, 2024 6
from the following information:
(i) Balance as per Pass Book as on the date is Rs. 10,000.
(ii) Bank collected a cheque of Rs. 500 on behalf of Shri Krishan but wrongly
credited it to
Shri Kishan’s Account (another customer).
(iii) Bank recorded a cash deposit by us of Rs. 2,589 in his credit side.
(iv) Withdrawal column of the Pass Book undercast by Rs. 100.
(v) The credit balance of Rs. 1,500 as on Page 10 of the Pass Book was recorded
on Page 11
as a debit balance.
(vi) The payment of a cheque of Rs. 350 was recorded twice in the Pass Book.
(vii) Dividend collected by bank Rs. 125.
Q34 Enter the following transaction into two column Cash Book of Ms. Sudha: 6
Date Transaction Amount
April,24
1. Bank overdraft 12,000
Cash in Hand 23,000
5. Sold Goods from Ramesh 15,000
8. Two cheques received from Ramesh of his payment due:
st
1 : Rs.2,500
2nd:Rs.12,500
13. Cheque paid to Seema which received from Ramesh 2,500
Discount Received 50
17. Money withdrawn from bank of office Expenses 3,400
28. Fees of his children paid by cheque 5,000
29. Charges charged by bank 1,000
30. Excess of Rs.250, Banked
