Accountancy (2017) | Class 11 (First Year) | AHSEC | Assam Higher Secondary – Previous Year Question Paper

Accountancy (2017) | Class 11 (First Year) | AHSEC | Assam Higher Secondary – Previous Year Question Paper

2017

ACCOUNTANCY

Full Marks: 100

Time : 3 Hours

The figures in the margin indicate full marks for the questions.

  1. (a) Fill in the blanks: (1×4=4)

(i)“Recognise all losses, anticipate no                .

(ii) Accounting is the                  of business.

(iii) Journal is a book of                               entry.

(iv) Under incomplete record system, profit is indicated if the opening capital is             than the closing capital.

(b) State whether the following statements are true or false: (1×2=2)

(i) A bank Reconciliation Statement is prepared by bank

(ii) Trial Balance is a proof only of the arithmetical accuracy of the accounts.

(c) Rewrite the following sentences with appropriate alternatives: (1×2=2)

(i) Accounting software is an integral part of the Computerized Accounting System/Manual Accounting System.

(ii) The full form of CPU is Central Processing Unit/Computer Purchase Account.

  1. Write any two advantages of Accounting. (2)
  2. Mention two distinctions between Purchase Book and Purchase Account. (2)
  3. Write two features of Trial Balance. (2)
  4. Mention two main causes of depreciation. (2)
  5. State two roles of computer in the field of accounting. (2)
  6. Explain three primary objectives of book keeping. (3)
  7. Write three distinctions between event and transaction. (3)
  8. Mr. Baruah kept his accounts in single-entry system. From the following particulars, ascertain his profit or loss: (3)

Capital at the beginning 20,600

Capital at the end 19,000

Drawings were Rs. 400 per month.

Fresh capital introduced during the year Rs. 2,000.

(b) Mention three disadvantages or limitations of single entry system. (3)

  1. Explain three features of Computerized Accounting System. (3)
  2. State three purposes or needs of Database Management System. (3)

12(a) What is the Accounting Standard? Mention its three importance’s. (2+3=5)

13 (a) Explain five points of non-agreement of the bank balance as shown by cashbook with that of passbook. (5)

(b) Nripen had the following assets and liabilities as on 1st April, 2016. Pass the necessary opening entry: (5)

Cash

Bank deposit

Stock

Furniture

Plant and machinery

Land and building

Sundry Debtors

Sundry Creditors

Bills payable

2,000

5,000

5,000

10,000

25,000

50,000

15,000

35,000

7,000

14(a) Define a promissory note. State its three characteristics. (2+3=5)

(b) What is dishonour of bill? State three reason of dishonour of a bill. (2+3=5)

15(a) On 1.4.2016, Tanmoy accepted a bill drawn by Nilam for Rs. 10,000 at one month. As the due date of the bill came nearer, Tanmoy found that it would not be possible for him to meet the bill on maturity. So on 30.4.2016, Tanmoy approached Nilam and requested him to receive Rs. 3,400 in cash including an interest of Rs. 400 and to draw on him a new bill for the balance amount for a further period of three months after cancellation the old bill. Nilam agreed to the proposal and new bill was drawn on 3.5.2016 and duly accepted. On the due date, the bill was met by Tanmoy. Pass Journal Entries in the books of Nilam. (5)

(b) How many types of cheques are there in the modern business world? Explain each. (5)

16 (a) From the following particulars, prepare a Trial Balance (5)

Stock

Machinery

Capital

Cash in hand

Cash at bank

Sundry Creditors

Wages

Purchases

Bills Receivable

Interest received

Sundry debtors

Rent

Sales

Commission Allowed

General expenses

Salaries

Furniture

600

4000

9,000

500

1,000

4,500

1,000

8,000

2,900

300

4,400

450

16,000

250

800

500

5,400

(b) Explain five errors which are not disclosed by trial balance. (5)

17 (a) Prepare a Trading Account of M/s Sarma Sweets for the year ended 31st March, 2016 from the following information and additional information:

ParticularsDr.Cr.
Purchases

Sales

Return outward

Return Inward

Wages

Carriage Inward

Duty and clearing charges

Electric and Water charges

Factory Rent

Stock on 1.4.2015

1,50,000

30,000

25,000

3,000

500

500

3,500

38,000

2,70,000

20,000

Additional information:

  1. Stock as on 31.3.2016 was valued at cost price Rs. 55000 and market price Rs. 59,000
  2. Wages Outstanding- Rs.1000
  • Factory rent paid in advance to the extent of Rs. 300

18(a) Give five distinctions between the following: (5)

Balance Sheet and Trail Balance

Capital Expenditure and Revenue Expenditure

19(a) Prepare a Triple-column Cashbook from the following particulars: (8)

2016

Dec 1

Dec 2

Dec 3

Dec 4

Dec 10

Dec 12

Dec 20

Dec 25

Dec 28

Dec30

Started business with cash

Deposited cash into bank

Bought goods by cheque

Received cash from Raja

Allowed him discount

Sold goods for cash

Paid into bank

Paid to Hari by cheque

Discount received

Paid rent by cheque

Drew from bank for office use

Paid wages in cash

25,000

10,000

1,150

500

25

1,500

300

545

5

500

200

400

(b) What is cashbook? State its five advantages. (3+5=8)

20 (a) On 1st April, 2013 a company purchased a machine for Rs. 10,000. It spends Rs. 2,000 in its erection. On 1st October, 2013, it purchased another machine for Rs. 4,000. On 1st April, 2015, the machine purchases on 1st April, 2013 were sold for Rs. 4,600. The company writes off depreciation at 10% p.a. on diminishing balance method. Accounts are closed on 31st March each year. Prepare Machinery Account for the three years ending on 31st March, 2016. (8)

(b) The following figures appear in the books of Sri S. Sarma in 2015:

2015Amount
Jan.1

Dec.31

Dec. 31

Provision for Doubtful debts

Bad Debts

Sundry Debtors

3,500

1,500

50,600

Additional information:

  1. Additional bad debts Rs. 600
  2. Keep the provision for doubtful debts @5% on debtors.

Show the relevant accounts and show how bad debts and provision for doubtful debts will be reflected in the Profit and Loss A/c and Balance Sheet as at 31st December. (8)

21(a) Mr. Jadu started business on 1st April, 2015 with 25,000 as his capital. Immediately he purchased furniture worth Rs. 6,000. During the year, he took loan from his wife Rs. 15,000 and he himself introduced additional capital of Rs. 9,500. He withdrew Rs. 900 at the end of each month for household expenses. On 31st March, 2016, his position was as follow:

Cash in Hand

Cash at Bank

Sundry Debtors

Stock-in-trade

Bills Receivable

Creditors

Rent due

600

7,800

14,400

20,400

4,800

1,500

450

Provide depreciation @10% on furniture.

Ascertain the profit or loss made during 2015-16. (8)

(b) What do you understand by single-entry system? Mention six points of difference between single-entry system and double entry system. (2+6=8)

22(a) From the following Trail Balance of M/s Sarma as on 31st March, 2016, prepare- (8)

  1. A profit and loss account for the year ended 31st March, 2016;
  2. A Balance Sheet as on that date.

Trail Balance

DebitRs.CreditRs.
Building

Salaries

Rent

Furniture

Bad Debt

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Drawings

Sundry Debtors

Bills receivable

Closing stock

18000

12400

3500

4950

600

2000

3000

15000

6000

9750

Provision for Bad debt

Interest received

Creditors

Outstanding wages

Capital

Bills Payable

Trading A/c (Gross Profit)

400

400

4200

900

45000

2000

22300

7520075200

Adjustment:

  1. Salaries outstanding- Rs. 2,000
  2. Furniture is to be depreciated by Rs. 950
  • Make provision for bad debts- Rs. 500
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