Gujarat Board Class 11 Accountancy Sample Papers 2007

Sample Paper 2007
Accountancy
CLASS :XI

Maximum Marks: 100                                                                 Time Allowed : 03 Hrs.
General Instructions: -
1        This question paper contains 21 questions.
2        All questions are compulsory.
3        The figure in the braket indicates Marks allotted to each question.
4         Candidates can attempt the question in chronological order.


Q1.Point out one transaction which will affect capital only in an accounting equation? (2)

Q2.Distinguish between a promissory  note and a bills of exchange.                            (2)

Q3. Give two examples of capital reserve.                                    (2)

Q4. Calculate the closing capital to be shown in balance sheet of Mr.Niskarsh from the following particulars .               (3)
Capital on the opening date               Rs.50,000
Drawing during the year                     Rs.20,000
Interest on drawing                             Rs.2,000
Interest on capital                               Rs.5,000
Profit for the year                               Rs.10,000      

Q5.How can you arrange the Assets and Liabilities in a Balance sheet ?                        (3)

Q6.Enter the following transactions in a Sales  Book:

       2005
Sept. 1,      Sold to Malhotra Bros. NewDelhi.
                              100 Lux soap@ Rs. 10 per soap.
                              200 Lux sampoo@ Rs. 2 per sampoo.
Less -   10% Trade Discount.
Sept. 10     Sold to Sanskar & Co. Raipur.
250 Parachute Hair Oil bottle @ Rs.20 per bottle
500 Vaseline Body Lotion Packets @ Rs.5 per packet
Delivery Charge Rs. 50/-
Less – 10% Trade Discount             (3)

Q7.Explain how are Accounting Standards derived?                          (3)

Q8.Explain the users of accounting informations.                                (4)

Q9.A machine was  purchased for Rs. 40,000 on 31.03.2003. Rs. 2,000 were spent for carrying cost and Rs. 3,000 were spent for installing the machine. The estimated life of the machine is fixed at 5 years after which the machine will provide Rs. 4,000 as scrap value. Calculate the amount of depreciation for the years 2003, 2004 and 2005 assuming the accounting year is
          ended on 31st December energy year.                                             (4)

Q10.   Prepare a Bark Reconciliation statement from the informations given below :-       
                        (i) Bank overdraft as per cash book as on 30th April  ,2005 Rs. 2,000.
                        (ii) Cheques issued but not  presented for payment Rs.1,250.
                        (iii) Rs. 25 charged by the bank on account of bank charges not yet entered in the cash book.
                        (iv) Rs. 800 in respect of a dishonored cheque were recorded in the pass book but not in cash book.
                        (v) Interest charged by the bank Rs.75 but not entered in the cash book.                (4)

Q11.   How do you identify the hidden adjustments while preparing the final account.                  (4)

Q12.   Miku accepted a bill drawn by Chiku for Rs.5,000 after  3 months on January , 1 , 2005. On the due date, Miku becomes insolvent and a dividend at the rate of 40 paise in a rupee was received. Pass necessary journal entries in the books of  Chiku and Miku.                    (4)

Q13.   Rectify the following errors.

a.  Purchase Book overcastted by Rs. 3,000
b.      Purchase of machine for Rs. 5,000 was entered in the debit side of purchase account.
c.       Sold goods to Mohan Rs. 12,000 entered in debit side of Sohan’s account as Rs. 1,200.
d.      A major repairs to building Rs.25,000 was debited to  repairs account.
e.       Cash received from Shankar Rs. 4,000 was completely omitted to record.
f.       Sales book undercasted by Rs. 2,500.                                               (6)

Q14.  The following are the extract of a trial balance and additional informations  of Mr. Das & Das for the year ending  31.03.2005.


Heads of account

Debit(Rs.)

Credit(Rs.)

Sundry Debtors

Provision for Bad debtors

Provision for Discount on debtors

Bad debtors

80,000

-

-

1,000

-

6,000

2,000

-

Additional informations: -

1.      Further bad debt to be kept Rs.8,000.
2.      Provision for bad debt to be kept at 10% on debtors.
You are required to pass journal entries and show the effects in the financial statement.

                                                      OR                                                    

     What are the financial statements? What information do they provide?            (6)

Q15.    (a) Calculate Gross Profit from the following particulars :

                              Cost of good sold      -  Rs.24,000

                              Gross Profit  -  25% on sales

                  (b) Explain the following Principles :-                                                          

(i) Historical Cost.
(ii) Accounting Entity.
(iii) Materiality.                                 (3x2 =6)

Q16.          Explain the following terms in accounting with examples: -               

(a)    Debtors.
(b)    Creditors
(c)    Liabilities
(d)   Debit
(e)    Expenditure
(f)     Bank Overdraft                              (6)