KENDRIYA VIDYALAYA SANGATHAN, CHANDIGARH REGION

SESSION ENDING EXAMINATION

CLASS - XI
ACCOUNTANCY
(2020-21)
TIME ALLOWED: 3 HOURS M.M.: 80

MARKING SCHEME

Q. NO. ANSWER MARKS

PART A : FINANCIAL ACCOUNTING-I
1. C)Banks and Financial Institutions 1
2. Journalising 1
3. B) On being incurred 1
4. Debit 1
5. Dual Aspect Concept 1
6. Voucher is an evidence of business transaction. 1
7. True 1
8. A) Internal Liability 1
9. D) Journal proper 1
10. B)Output CGST and SGST 1
11. It is a book which is maintained for recording expenses involving small 1
amounts.
12. C)Nominal accounts 1
13. It is a reserve created out of capital profits and are not normally available 1
for distribution as dividend
14. Correct meaning of Accounting. (1 mark) 3
Objectives:(Any Four)
1. Maintaining accounting records
2. Determining Profit or Loss
3. Determining Financial Position
4. Facilitating management
5. Protecting business assets
6. Providing information to users.
7. Any other suitable point (1/2 mark for each 1/2*4=2)
OR

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 1 mark each for one limitation (1*3=3 marks)
15. Cash Balance Rs. 23,500 4
Amount deposited in bank on 28th July Rs. 1,00,000
Bank Balance Rs. 1,43,500
16. 4
Journal
Date Particulars L. F Dr. Cr.
Amount Amount
(a) Purchases A/c ..Dr 20,000
Input CGST A/c ..Dr 1,200
Input SGST A/c ..Dr 1,200
To Cash A/c 22,400
(b) Bad Debts A/c ..Dr 3,600
Cash A/c ..Dr 2,400
To Ameesh A/c 6,000
(c ) Drawings A/c ..Dr 5,000
To Purchases A/c 5,000
(d) Salary A/c ..Dr 3,000
To Outstanding Salary A/c 3,000
17. 2 marks each for Correct explanation of concepts. 4
OR
A) Matching Concept
B) Accrual Concept
C) Business Entity Concept
D) Revenue Recognition Concept.
18. Credit balance as per Pass Book Rs.10,720 4
19. Journal 6
Date Particulars L..F Dr. Cr.
Amount Amount
(a) Suspense A/c ..Dr 1,000
To Sales Return A/c 1,000
(b) Machinery A/c ..Dr 9,600
To Kunal A/c 2,700
To Purchases A/c 6,900

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 (c ) Y A/c ..Dr 1,000
To X A/c 1,000
(d) Purchases A/c ..Dr 5,000
Purchase Return A/c ..Dr 5,000
To Suspense A/c 10,000
(e) Rent A/c ..Dr 12,000
To Landlord A/c 12,000
(f) Cash A/c ..Dr 3,000
To Bad Debts Recovered A/c 3,000
20. Books of A 6
Date Particulars L.F Dr. Cr.
Amount Amount
1.1.20 Bill Receivable I A/c ..Dr 5,000
Bill Receivable II A/c ..Dr 10,000
To B A/c 15,000
4.3.20 B A/c ..Dr 5,050
To Bill Receivable I A/c 5,000
To Cash A/c 50
4.3.20 Bank A/c ..Dr 9,925
Discount A/c ..Dr 75
To Bill Receivable II A/c 10,000
4.4.20 B A/c ..Dr 10,080
To Bank A/c 10,080

Books of B
Date Particulars L.F Dr. Cr.
Amount Amount
1.1.20 A A/c ..Dr 15,000
To Bill Payable I A/c 5,000
To Bill Payable II A/c 10,000

4.3.20 Bill Payable I A/c ..Dr 5,000

Noting Charges A/c ..Dr 50
To A A/c 5,050

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 4.4.20 Bill Payable II A/c ..Dr 10,000
Noting Charges A/c ..Dr 80
To A A/c 10,080
21. 2016-17 Depreciation Rs.4000; Balance of Machinery Rs 76,000 8
2017-18 Depreciation Rs. 9,600; Balance of Machinery Rs. 1,26,400
2018-19 Depreciation on sold machine Rs. 1,140; Loss on sale Rs. 6,660
Depreciation on remaining machines Rs. 12,610; Balance of
machinery Rs 1,20,990.
OR
2015-16 Depreciation Rs.10,000; Balance of Trucks Rs 90,000
2016-17 Depreciation on sold machine Rs. 1,500; Profit on sale Rs.
1,500; Balance of Trucks Rs. 64,000
2017-18 Depreciation on sold machine Rs.500; Loss on sale Rs. 500
Depreciation on remaining machines Rs. 6,000; Balance of
Trucks Rs. 42,000.

PART B : FINANCIAL ACCOUNTING-II

22. B) Volatile Memory 1
23. A) Readymade Software 1
24. Marshalling of assets and liabilities means arranging the assets and 1
liabilities in a particular order, i.e. in order of permanence or in order of
liquidity
25. B) Advertising Campaign to lauch a new product. 1
26. C) Monitor 1
27. Rs. 8,000 1
28. Software 1
29. Cost of goods sold= Rs. 9,50,000 2 marks 3
Gross profit = Rs. 50,000 1 mark
OR
Cost of goods sold = Cost of goods produced- closing stock
= Rs. 3,50,000- Rs. 50,000
=Rs. 3,00,000 (0.5 mark)
Cost of goods sold = Sales- Gross profit

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 3,00,000 =Sales- 1/5 Sales
3,00,000 =4/5 Sales
3,00,000*5/4 = Sales
3,75,000 =Sales (1.5 mark)
Gross profit= Sales - cost of goods sold
= Rs. 3,75,000- Rs. 3,00,000
= Rs. 75,000 ( 1mark)

30. Four advantages of computerised accounting system over manual 4

accounting system
OR
2 marks each for correct explanation of customised and readymade
accounting software.
31. Opening Capital Rs. 5,63,000 6
Closing Capital Rs. 6,12,000
Profit during the year Rs. 84,000
32. Gross profit Rs. 44,500 8
Net profit Rs. 24,600
Balance sheet Total Rs. 89,400
OR
Gross profit Rs. 1,79,000
Net profit Rs. 1,29,100
Balance sheet Total Rs. 3,66,000

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