Accountancy Question Paper 2024 [AHSEC Class 11 Accountancy Question Papers]

[Accountancy Class 11 Question Paper, AHSEC Question Papers, Accountancy, 2024]

Accountancy Question Paper 2024
AHSEC Class 11 Accountancy Question Papers

ACCOUNTANCY (Commerce)

Full Marks: 80

Pass Marks: 24

Time: 3 hours

The figures in the margin indicate full marks for the questions

1. Answer the following as directed:        1x6=6

(a) Accounting does not record quantitative events. (State whether the statement is True or False)

(b) All _______ transactions are recorded in the Cashbook. (Fill in the blank with appropriate word/words)

(c) _______ balance in the Passbook shows bank overdraft. (Fill in the blank with appropriate word/words)

(d) Depreciation is charged on _______ assets. (Fill in the blank with appropriate word/words)

(e) Balance Sheet shows financial position. (State whether the statement is True or False)

(f) Trial Balance is the base for preparing Final Accounts. (State whether the statement is True or False)

2. Mention any two objectives of accounting. 2

3. What is going-concern concept?           2

4. What is a Bank Reconciliation Statement?                       2

5. What is Suspense Account?    2

6. Briefly explain any three qualitative characteristics of Accounting Information.  3

7. Briefly explain any three limitations of GAAP. 3

Or

Briefly explain any three advantages of single-entry system of accounting.

8. Briefly explain any three distinctions between Journal and Ledger.        3

Or

Briefly explain any three needs for preparing a Bank Reconciliation Statement.

9. Briefly explain any three objectives of preparing a Trial Balance.                             3

Or

Briefly explain any two types of errors which do not affect the Trial Balance.

10. Briefly explain any five distinctions between Revenue Reserve and Capital Reserve.                   5

Or

What is depreciation? Briefly explain three causes of depreciation.

11. Briefly explain any three needs for preparing a Profit & Loss Account.      5

Or

From the following information, prepare a Trial Balance:

Particulars	(Rs.)
Furniture Machinery Wages Outstanding Salaries Interest on Bank Loan Purchases Building Sundry Charges Sundry Debtors Bad Debts Salary paid in advance Rent received in advance Sales Bank Loan Discount Allowed Discount Received Capital Drawings Carriage Inward	6,000 15,000 2,000 500 1,500 7,500 15,000 1,500 5,500 1,000 6,000 1,000 34,500 6,000 2,550 3,000 25,000 5,000 1,450

12. Write a brief note on “Accounting is a source of information”.  5

Or

Briefly explain any five users of Accounting Information.

13. Briefly explain five advantages of Goods and Services Tax.    5

Or

Briefly explain the Cash Basis and Accrual Basis of accounting.

14. Write the rules of Debit and Credit as per American Approach.  5

Or

From the following particulars, prepare a Purchase Book of M/s. Bharatiya Traders:

2023	Particulars
March 10	Purchased on credit from Bose Brothers: 40 shirts @ Rs. 1,000 each. 20 sarees @ Rs. 2,000 each. Less: Trade Discount @ 10%
March 16	Purchased on credit from Barua Brothers: 30 shirts @ Rs. 800 each.
March 20	Purchased in cash from Assam Traders: 50 sarees @ Rs. 2,000 each.
March 30	Purchased on credit from Gogoi Traders: 2 chairs @ Rs. 400 each.

15. On 1^st April, 2019, Choudhury Traders & Co. purchased a machine for Rs. 1,40,000. On 1^st October, 2020, it purchased another machine for Rs. 20,000. It writes off depreciation @ 10% p.a. on Diminishing Balance Method. Accounts are closed on 31^st March each year. Prepare Machinery A/c for three years. 5

Or

The following is the extract of a Trial Balance of Assam Stores Co. as on 31^st March, 2023:

Particulars	Dr. (Rs.)	Cr. (Rs.)
Sundry Debtors Bad Debts	81,000 900

Write off further Bad Debts Rs. 1,000 and create a provision for Doubtful Debts @ 5% on Sundry Debtors. Pass the necessary Journal entries in the books of Assam Stores Co.

16. Prepare a Single-Column Cashbook: 8

2023	Particulars	(Rs.)
April 1 April 5 April 7 April 9 April 10 April 12 April 15 April 28	Started business with capital Opened a Bank A/c depositing in Bank Purchased goods for cash Sold goods for cash Purchased furniture for cash Purchased goods from Ratan on credit Paid rent to landlord Paid salaries to employees	1,30,000 20,000 17,000 22,000 26,000 10,000 25,000 48,000

Or

Prepare a Bank Reconciliation Statement of Ajay Barman from the following particulars:

(1) Bank balance as per Cashbook as on 31^st March, 2023 Rs. 12,000.

(2) Two cheques of Rs. 1,500 and Rs. 2,500 were issued but not presented to bank for payment before 31^st March, 2023.

(3) Three cheques of Rs. 900, Rs. 800 and Rs. 1,000 were deposited into Bank for collection but were not yet collected.

(4) Bank charges debited in the Passbook but not recorded in the Cashbook Rs. 700.

(5) Dividend collected and credited into the Passbook but was not recorded in the Cashbook before 31^st March, 2023 Rs. 800.

17. Briefly explain the meaning of any four of the following:        2x4=8

(a) Financial Statement.

(b) Capital Expenditure.

(c) Gross Profit.

(d) Bad Debt.

(e) Marshalling of Assets and Liabilities.

Or

From the following information, prepare an Analytical Petty Cashbook for the week ending on 7^th April, 2023:      8

2023	Particulars	(Rs.)
April 1 April 1 April 2 April 3 April 4 April 4 April 4 April 5 April 5 April 6 April 6 April 7	Balance of cash in hand with the petty cashier Paid for postage Paid for carriage Received from head cashier Paid for coolie charges Bought postage and stamps Paid for bus fare for office peon Received from head cashier Paid for carriage Paid for taxi hire charges for manager Paid for cleaning washroom Paid for printing and stationery	1,000 240 210 1,800 170 230 180 800 820 770 400 220

18. From the following Trial Balance of Ashok Kumar Barua as on 31^st March, 2023 and the additional information, prepare a Trading and Profit & Loss A/c for the year ended 31^st March, 2023 and a Balance Sheet as on that date:          8               

Trial Balance

Particulars	Rs.	Particulars	Rs.
Purchases Carriage Outwards Wages Office Expenses Opening Stock Carriage Inwards Coal and Gas Discount Salaries Machinery Sundry Debtors Cash in Hand Bad Debts Cash at Bank Drawings Furniture Buildings Sales Returns	1,50,000 8,000 7,000 3,000 50,000 5,000 3,000 2,000 10,000 65,000 50,000 3,000 3,000 15,000 10,000 12,000 82,000 10,000	Sales Bills Payable Capital Discount Received Sundry Creditors Purchase Returns Bank Loan Interest Received	3,00,000 10,000 1,00,000 5,000 53,000 5,000 12,000 3,000
	4,88,000		4,88,000

Adjustments:

(1) Closing Stock as on 31^st March, 2023 was Rs. 65,000.

(2) Outstanding Wages was Rs. 3,000.

(3) Depreciation to be provided on Machinery @ 20% p.a. and on Furniture @ 10% p.a.

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