THE MANTHAN SCHOOL, GREATER NOIDA (W)

MANTHAN FINAL TERM EXAMINATION (2023- 24)

SCHOOL GRADE- 11 ACCOUNTANCY

Name 4 Date: 5 February, 2024

Max. Marks: 80 Time: 3 hrs

General Instructions
1. This question paper contains 6 printed sides.
2. This Question Paper has 34 questions, divided into two parts. Part A(56 Marks) and Part B(24 Marks).
3. Both parts are compulsory.
4. All parts of the question should be attempted at one place.
$. Write down the question number clearly before attempting the question.
6. 20% of the marks allotted to the question would be deducted for not using correct format.
7. Nothing should be written on the Question paper.

PART- A
QI Accounting Voucher is prepared on the basis of source documents/voucher. On the basis of (1)
accounting voucher, recording is made followed by posting in the ledger. Identify the correct
sequence out of the following:
(a) Source document- Accounting Voucher- Joumal Ledger
(b) Accounting Voucher-> Source Document’ Joumal’ Ledger
(c) Source document> Accounting Voucher- Ledger Journal
(a) Joumal Accounting Voucher -Source Document > Ledger
Q2. On intra-state purchase of goods, which of the following accounts are debited? (1)
(a) Input IGST aBc
(b) Input CGST and Input SGST a/e
(c) Input IGST and Input CGST alc
(d) Input IGST lc and Ioput SGST alc
Q3. Uoder Accrual basis of accounting, revenue is recognized when: (1)
(a) it is received in cash
(b) it is eamed
(c) order is received
() advance is received

Match the following: (1

Column Column 2
|A Expenses alc Unearned income alc
|B Liabilities alc Bad debts alc
|C Revenue alc 3 Drawings alc
D Capital a/c Sales ac

Options:
(a) A-1, B-2, C-3, D-4
(6) A-3, B4,C-1, D-2
(c) A-2, B-1, C4, D-3
(() A-3, B-2, C-4, D-1

Page 1ofpage 6
 t h te

If
(:
balancC.
Qs. hoot cannot have a credit
temnent 1: Cash colurnn in the cash
4.

Statement 2: Bank overdrafl is a liability.

Choose the corect option from the following Options:
(a) Only statement I is truc.
(b) Only statement 2 is true.
(c) Both statement l and statement 2 are truc.
(d) Both statement 1 and statement 2 are false. t
Machincry a/c only,
installation expenscs are debited to
and its the machine.
Q6. ASSertion (A): Machine purchasedare incurred to enhance the working capacity of
eason (R): Installation charges
Which of the following is correct? of A.
R is the correct cxplanation
(a) Both A and R arc correct and R is not the correct explanation of A.
(b) Both A and R are correct but
(c) A is True but R is False.
(d) A is False but R is True.
(1)
whichever is lower.
Closing stock is valued at
Q7. (a) market price & cost.
(b) market & taxable value.
() cost &
(d) cost & revenue.
(
transaction?
Q8. Which of the following is not a business
(a) Bought furniture of {1 0,000 for business.
(b) Paid for salarics of employees 5,000. account 20,000.
(c) Paid son's fees from her personal bank
(d) Paid son's fees from the business 22,000.

A concept that a business enterprise will not be sold or

liquidated in the near future is known as:
09
(a) Going concern
(b) Economic entity
(c) Monetary unit
(d) None of the above

Q10. Which of the following is entered in the cash book?

(a) Only cash transactions
(b) Only credit transactions
(c) Both cash and credit transactions
(d) None of these
cash book shows
Q11. Credit balance of the bank account in the
(a) Overdraft
(b) Cash deposited into our bank
(c) Cash is withdrawn from the bank
(d) None of the above
of
Bank reconciliation statement is prepared with the balance
O12.
(a) Cash book
(b) Pass book
book
(c) Either cash book or pass
pass book
() Neither cash book nor
under diminishing method
Q13. Depreciation charged year
(a) decreases every decrease another year
year and
(b) increases in one
year
(c) remains same every
(d) increases every year Page 2 ofpage 6
 4 ir the wo sides of the trial balance do not tally, which account is opened?
(a) Suspense account
(1
(b) Personal account
(c) Real account
(d) Nonc of the above
o15. The amount of Depreciation charged on machinery is
(a) depreciation account debited to
()
(b) machinery account
(c) provision for depreciation account
(d) profit & Loss Account
Q16. Identify and define the following types of
(i) The nature of such expenditure is recurringexpenditure:
and doesn't affect assets & liabilities. (3)
() The nature of such expenditure is
non-recurring and affects assets & liabilities.
Q17. 'Provision and reserve, both are created in
order to provide financial sccurity to the businesses'.
Explain the above statement with suitable example (3)
and reserve.
and also give one difference between provision

Q18. Shri Hariharan had started a new mid-sized

business. He
a chartered accountant on maintenance of accounts. He being new to accounting sought advice from
was advised that be should follow Double
Entry System of Accounting maintaining accounts on
to maintain accounts on Cash Basis of Accounting. He
accrual basis. Some of his friends advised him
decided to follow the advice of the chartered
accountant. Is the decision of Haribaran correct? Justify your answer by giving appropriate reasons.
Q19. Pass necessary Journal entries in the books of Rajhans, Surat
SGST @6% each and IGST @12%.
(Gujarat) assuming CGST and (4)
(a) Sold to Ram, goods of the list price 50,000 less 20% trade discount.
(b) Purchased goods of list price 25,000 from Arav of Mumbai less 20 % trade discount,
(c) Gave an order to Ram Lal and Sons to supply goods of list price 25,000 at a trade discount of
20%.
(d) Received 5,000 for 'accrued interest' on investment directly by bank.

Q20. Prepare 'Accounting Equation' from the following transactions in the books of Pranay:
(4)
(a) Started business with Cash 1,20,000.
(b) Purchased a typewriter for Cash for 8,000 for office use.
(c) Purchased goods for 50,000 for cash.
(d) Purchbased goods 40,000 on credit.
(e) Goods costing ? 60,000 sold for 80,000 on credit.
() Paid for Rent 1,500 and for salaries 2,000.
Q21. Identify and explain the Accounting Principles followed or violated in the following
O) situations:
(4)

Puri and Sons' is following the policy of valuing the closing stock at cost price irespective of
(ü) the fact that its market price is significantly lower than the cost price
Jain and Sons' is in Garments business. Their accountant prepared a single set of Financial
statements for the time period from 1" April 2019 to 31" March 2023.
Q22. Prepare the Bank Reconciliation Statement for the period ending 31st December, 2023. (4)
(a) Overdraft balance as per Pass Book on 31-12-2023 7,600.
(b) Cheques deposited but not collected by the bank 8,560.
(c) Incidental charges not recorded in Cash Book 280.
(d) Cheques were issued for 7,800 but only 4,400 were presented for payment.
(e) Insurance premium paid by bank not recorded in the Cash Book 4,200.
Page 3 ofpage 6
 as at 31 March
repare a Trial Balance from the balances extracted from the books of Archit
2024.
Particulars
Sales 3,00,000
Closing stock(Unadjusted) 25,000
Salary and wages 5,000
Outstanding advertising expenses 5,000
Investnent 2,00,000
Opening stock 50,000
Purchases 2,00,0001
Discount received 1,500|
Carriage inwards 1.500
Interest on investments 20,000
Capital 1,05,000
Q24. X Ltd. which closes its books of account every year on 31st March, purchased on 1st October, 2021 (6
machinery
On costing
30th June, 2023,24,40,000. It purchased
the first machine further
was sold for machinery on IstonApril,
2,50,000 and 2022datecosting
the same a fresh25,20,000.
machine
was installed at a cost of 3,00,000. On
2022 was a o
lst July 2024, the second machine purchased on lst April
The company
sold off- depreciation at
r3,25,000.
writesfor 10% p.a, on the Straight Line Method each year, Show the
Machinery alc for all the four years,
Q25. Preparea doublc-column cash book with the help of following information for December 2023
Date
(6)
Transactions
01 Started business with cash
1,20,000
03 Cash paid into the bank
S0,000
05 Purchased goods from Sushmita 20,000
06 Sold goods to Dinesh and received a cheque
20,000
10 Paid to Smita cash
20,000
14 Cheque received on December 06, 2016, deposited into the bank
18 Sold goods to Rani
12,000
20 Cartage paid in cash S00
22 Received cash from Rani
12,000
27 Commission received
5,000
30 Drew cash for perSOnal use
2,000
PART- B
Q26. Assertion (A): Office Expenses is shown in Profit and Loss A/c.
Reason (R): Office expenses in an Indirect Expense. (1)
(a) (A) is correct but (R) is wrong.
(b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
(c) Both (A) and (R) are incorect.
(d) Both (A) and (R) are correct, and (R) is the correct explanation of (A).

Q27 Trading and Profit and Loss Account is prepared:

(a) For a particular period (1)
(b) On a particular date
(c) For the whole year
(d) None of above

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] March rGoods Sold
got ofpurchase?
Z50,000; Closing Stock 240,000; Opening Stock
60,000. What will be the
(a)I,30,000
(b) I,70,000 ()
(c) 50,000
(d) None of these
Wagcs paid for erection of Machinery are debited to:
(a) Deferred wages account (1)
(b) Machinery Account
(c) Profit & Loss Account
(d) Wages Account
030 Liabilities and assets amount to 50,000 and 78,000 respectively. The
(a) Creditors difference will represent (1)
(b) Debentures
(c) Profit
() Capital
Q31 Rishant keeps incomplete records of his business. He
business for the FY 2023-24. gives you the following information of his (3)
(a) Capital at the beginning of the year
(b) Capital at the end of the year 78,00,000.
(c) 2,50,000 was withdrawn by Z6,20,000.
(d) As Rishant needed money forhim
for his personal use.
allowed bim to sell her ornamentsexpansion of his business, he asked his wife for help. His wife
at 30,000 and invest that
Calculate his profit or loss for the year ended amount into the business.
31 March 2024 & prepare
statement of profit & loss.
Q32 Show the treatment of Prepaid Expenses,
Closing Stock, Bad debts & Accrued Income in the
following cases: (4)
When these items are given in Trial balance.
(iü) when these items are given outside
Trial Balance.
Q33 Dinesh does not keep her
records in systematic manner. He gives you the
following infommation: (6)
Particulars 01 April 2023 ( 31 March 2024
Stock )
Debtors 28,500 40,000
Creditors 13,000 16,000
Bills receivable 11,000 1,000
Building 4,000 2,000
| Cash at Bank 10,000 10,000
4,000 2,000 (Overdraft)
You are given the following
(a) A provision of 10% onadditional information:
(b) Outstanding salaries Debtors is required for bad and doubtful debts
(c) Charge depreciation5,000
(d) Dinesh also paid @10% ason building.
E11,000 Income Tax and an
personal loan. instalment of?1,000 per month of his
(e) He has also sold his
that amount in the personal investment of 20,000 at a premium of 5% and
business.
Calculate the profit made during brought
the year ended 31 March 2024
using 'Statement of Affairs'
Method.

Page 5 of page 6
Q34
ne 1ollowing balances taken from the books of Komal, prepare Trading and Profit &Loss
lc for the year ended 31 March
2024:
Trial Balance as at 31 March 2024
Debit balances Credit balances
Machinery
Purchase 3.0
40,000 Capital
Discount
2,00,000
8,000
Debtors
Salaries
Do0l Sales
60,000 Purchase Return
6,42,000
10,000
Wages 40,000 Creditors 2,40,000
Rent 30,000 Provision for D/D 12,000
Sales return 20,000 Commission 4,000
Bad Debts 14,000
Drawings 28,000
Printing and Stationery 16,000
Insurance 12,000
Opening Stock 1,00,000
Office Expenses 36,000
Cash at Bank 20,000
uM6,000
| I16.000|

Adjustments:
(a) Depreciate machinery @10% p.a.
(b) Prepaid insurance 4,000.
(c) Goods withdrawn by Komal for personal use Z12,000.
(d) Outstanding Salaries 16,000.
(e) Closing Stock 1,35,000.
Note: Do not prepare balance sheet.

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