GRADE 11- WORKSHEET MAY 2024

ACCOUNTANCY
Time Allowed : 120 mins Maximum Marks : 75
Section A

1 Which of the following is also known as Principle Book of Accounts: [1]

a) Ledger
b) Journal
c) Imprest system
d) Cash Book

2 The first book of original entry is: [1]

a) Trial Balance
b) Subsidiary book
c) Ledger
d) Journal

3 Give the other name of the Ledger. [1]

4 Name and briefly discuss the principal book of accounting system. [4]
5 Give any four points of difference between a journal and a ledger. [6]
6 The total of Purchase Return Column of Purchases Return book will be posted to the: [1]
a) Cr. side of Purchases Return A/c
b) Dr. of Purchases A/c
c) Cr. of Purchases A/c
d) Dr. side of Purchases Return A/c

7 The credit balance of a personal account is ________. [1]

a) Cash in hand
 b) Income earned
c) Amount receivable
d) Amount payable

8 Purchased goods from Manish of₹ 20,000 at 20% trade discount. Posting will be made [1]
in Manish A/c:
a) Dr. side Rs 16,000
b) Cr. side Rs 20,000

c) Cr. side₹ 16,000

d) Dr. side Rs 20,000

9 The process of transferring the accounts from the Journal to the ledger is called. [1]
a) Posting
b) Journalising
c) Balancing
d) Costing

10 Should a transaction be first recorded in a Journal or Ledger? Why? [1]

11 Write the process of preparing ledger from a journal. [3]
12 What do you mean by posting? [3]
13 From the following particulars prepare the Proprietor’s Capital Account: [4]

14 Following balances appeared in the books of Ramesh & Suraj on January 1, 2023: [6]
Assets: Cash in hand₹ 30,000; Stock₹ 36,000; Jitendra₹ 7,600; Rahul Gupta₹ 16,200;
Furniture₹ 8,000

Liabilities: Garuda₹ 6,000; Vikram₹ 8,000

Following transactions took place during Jan. 2023:
 Journalise the above transactions, post them into Ledger, balance them and prepare a
Trial Balance.

15 Pass Journal Entries for the following transactions and post them into Ledger: - [6]
16 Normally, the following accounts are balanced: [1]
a) Nominal A/c & Real A/c
b) Only Nominal A/c
c) Personal A/c & Real A/c
d) Personal A/c & Nominal A/c

17 Balancing of account means: [1]

a) Totaling the account
b) Total of credit side
c) Difference in total of debit & credit
d) Total of debit side

18 Schedule of balances prepared from ledger accounts is known as: [1]

a) Statement of Affairs
b) Trial Balance
 c) Statement of Accounts
d) Balance Sheet

19 What does the debit balance of a Real Account indicate? [1]

20 What does the debit balance of a Personal Account indicate? [1]
21 Write a short note on balancing an account. Explain by balancing a Cash Account. [3]
22 Explain the procedure of balancing personal accounts. [3]
23 Calculate the amount of cash if, otherassetsRs 10,000; total liabilitiesRs 10,000 [1]
andtotal capitalRs 5,000.
24 If cash is received against services rendered, indicate how accounting equation will be [1]
affected?
25 How will you deal with the following items in the accounting equation: [3]
1. Interest due but not received
2. Rent received in advance
3. Insurance premium paid in advance
4. Salaries due but not paid

26 Prepare Accounting Equations on the basis of the given transactions: [4]

1. Started business with cash Rs 80,000
2. Credit purchase of goods Rs 28,000
3. Payment made to creditors in full settlement Rs 27,000
4. Purchase of machinery for cash Rs 15,000

27 From the following transactions, state the nature of accounts and state which account [6]
will be debited and which account will be credited :

1. Sahdev started the business with cash₹ 5,00,000.

2. Purchased goods for cash₹ 20,000.

3. Purchased goods from Raghubir on credit for₹ 25,000.

4. Purchased furniture from Fancy Furniture House for₹ 1,50,000 on credit.

5. Sold goods for cash₹ 30,000.

6. Sold goods to Yuvraj on credit for₹ 50,000.

7. Cash paid to Raghubir₹ 20,000.

 8. Cash received from Yuvraj₹ 15,000.

9. Paid rent₹ 10,000.

28 Vanishka had the follow ing transactions. Use accounting equation to show their effect [8]
on his assets, liabilities, and capital:
1. Invested Rs 30,000 in cash as capital.
2. Purchased furniture for cash Rs 15,000.
3. Purchased a building for Rs 30,000, giving Rs 10,000 in cash and the balance
through a loan.
4. Sold furniture costing Rs 2,000 for Rs 3,000.
5. Purchased an old car for Rs 5,600 cash.
6. Received cash as rent Rs 7,200.
7. Paid cash Rs 1,000 for loan and Rs 600 for interest.
8. Paid cash for household expenses Rs 600.
9. Received cash for dividend on securities Rs 400.

29 [1]

Match the columns.

a) (a) - (iii), (b) - (i), (c) - (iv), (d) - (ii)
b) (a) - (iii), (b) - (iv), (c) - (i), (d) - (ii)
c) (a) - (iv), (b) - (iii), (c) - (i), (d) - (ii)
d) (a) - (iii), (b) - (iv), (c) - (ii), (d) - (i)

30 Open T shape account of our Debtor Ram and write the following transactions on the [3]
 proper side:
31 Open T shape account of our Creditor X and write the following transactions on the [3]

proper side:
32 Put the following on the proper side of a Cash Account, a Debtor’s Account and a [4]

Creditor’s Account:
33 Analyse the following transactions, state the nature of accounts and state which [6]
account will be debited and which account will be credited:

34 Consider the following statements with respect to the rules of Debit and Credit: [1]
1. Debit what comes in, credit what goes out.
2. Debit the receiver, Credit the giver.
3. Debit all incomes, Credit all expenses.
 Identify the correct statement/statements:
a) i and ii
b) All of these
c) ii and iii
d) only i

35 On 10th June, goods worth₹ 30,000 were sold to H by IIA Ltd. On 12th June, H [1]
returned goods worth₹ 2,000. On 14th June, H pays₹ 27,500 in full settlement of his
account. What journal entry will be passed in the books of IIA Ltd on 14th June?

a)

b)

c)

d)

36 Trade Discount received on purchases is recorded in the books of account as follows: [1]
1. Trade Discount is credited to Discount Received Account.
2. Trade Discount is deducted from the Invoice Price and recorded at net value.
a) Neither A nor B follows
b) Both A and B follows
c) Only A follows
d) Only B follows

37 Journal records the transactions of a firm in a: [1]

a) Summarised manner
b) Chronological order
 c) Systematic order
d) Periodical manner

38 What is the journal entry if goods of₹ 20,000 are sold on credit to S? [1]

a)

b)

c)

d)

39 Goods costing₹ 20,000 is sold at a profit of 20% on cost and trade discount is allowed [1]
@ 10% and cash discount of 10% is also allowed. Half the payment was received at
the time of sale. What is the amount of cash received at the time of sale?

a) ₹ 11,880
b) Rs 9,720

c) ₹ 10,820

d) ₹ 10,800

40 Real accounts are related to: [1]

a) Expenses, losses and incomes
b) capital and liabilities
c) Assets
d) Debtors, Creditors etc.

41 Goods sold to Mr. Ramfor cash will be debited to : [1]

a) Sales
b) Sales book
c) Ram
 d) Cash

42 Cash Discount allowed is recorded in the books of account as follows: [1]

a) Cash Discount is added the Invoice Price
b) Cash Discount is reduced from the Invoice Price
c) Cash Discount is debited to Discount Allowed Account
d) Both Cash Discount is debited to Discount Allowed Account and Cash Discount is
reduced from the Invoice Price

43 Business transactions are recorded: [1]

a) at the end of the month
b) weekly
c) all of these
d) in chronological order

44 If goods worth₹ 30,000 were lost in a fire, then while passing a journal entry which of [1]
the following account is debited?
a) Drawings account
b) Purchases account
c) Sales account
d) Loss by fire account

45 If a partner takes goods for personal use or goods are given as charity, why Input GST [1]
(CGST and SGST or IGST) Account is credited?
46 What is Narration? [1]
47 Enter the following transactions in the Journal of Sumit Bros.: [3]

48 What is a Cash Discount? [3]

49 Enter the following transactions in the Journal of Madhur Govil & Co. : [3]
50 Exe Co. has purchased 50 computers from HCL and is allowed a discount of₹ 10,000 [3]
for purchase thereof. Is the discount allowed Trade Discount or a Cash Discount? How
will you record it in the books of account?
51 Pass Journal Entries for the following transactions [3]
1. Provide depreciation on Furniture₹ 500 and on Machinery ₹ 2,000.

2. Received cash₹ 1,000 for bad - debts written off last year.

3. Ajay Singh was declared bankrupt. He owed₹ 2,500 to us. Nothing could be
recovered from his estate.

4. ₹ 20,000 for wages and ₹ 4,000 for salaries are outstanding.

5. Purchased furniture for₹ 6,000 for the proprietor and paid the amount by
cheque.

6. Provide 9% interest on capital amounting to₹ 2,00,000.

7. Charge interest on drawings₹ 1,000.

52 Pass Journal Entries for the following: [4]

53 Journalise the following transactions in the books of Shukla Bros. [4]

54 On the basis of the narrations, fill in the missing values: Journal Entries [6]
55 Pass Journal entries in the books of Puneet, Delhi for the following: [8]
1. Received an order from Karan & Co. for supply of goods of₹ 50,000.

2. Received an order from AK & Co. for goods of₹ 1,00,000 along with a cheque
for ₹ 25,000 as advance.

3. Paid to staff₹ 40,000 against the outstanding salary of ₹ 60,000.

4. Sold goods to Bharat, Kaithal (Haryana) of₹ 10,000 plus IGST @ 12% out of
which 1/5th were returned being defective.

5. A Cheque of₹ 20,000 issued by Feroz was dishonoured.

6. Received 40 paise in a rupee from Feroz against the above dues.

7. Received a cheque of₹ 25,000 from Mohan after banking hours.

8. Purchased goods from Barun of Chandigarh of₹ 10,000 plus IGST @ 12% and
sold them to Arun of Shimla (HP) at ₹ 22,400, including IGST @ 12%.

9. Arun returned goods of₹ 6,720, including IGST which were returned to Barun.

10. ABC & Co. purchased 10 TV sets @₹ 20,000 per set and paid IGST @ 12%. It
sold all the sets @ ₹ 25,000 per set plus CGST and SGST @ 6% each.

11. Paid insurance of₹ 12,000 plus CGST and SGST @ 6% each for a period of
one year.

12. Sold personal car for₹ 1,00,000 and invested the amount in the firm.

13. Goods costing₹ 1,00,000 were destroyed in fire. Insurance company admitted
the claim for ₹ 75,000. These goods were purchased within Delhi.

14. Purchased machinery for₹ 56,000 including IGST of ₹ 6,000 and paid cartage
thereon ₹ 5,000 and installation charges ₹ 10,000.
15. Goods costing₹ 40,000 sold to Mr. X at a profit of 20% on sales less 10%
Trade Discount plus CGST and SGST @ 6% each and received a cheque under
2% cash discount.

16. Purchased machinery from New Machinery House for₹ 50,000 and paid it by
means of a bank draft purchased from bank. Paid charges ₹ 500.

56 Journalise the following transactions [8]

1. Paid rent of building Rs 30,000 half of the building is used by the proprietor for
residential use.
2. Paid fire insurance of the above building in advance Rs2,500.
 3. Paid life insurance premium Rs 5,000.
4. Paid income - tax Rs 7,500.
5. Salary due to clerk Rs 1,250.
6. Charge depreciation on furniture @ 10% per annum for Rs month (furniture
Rs30,000)
7. Provide interest on capital 1,50,000) at 15% per annum for 6 months.
8. Charge interest on drawing (Rs 25,000) at 18% per annum for 6 months.

57 On 28th March, 2013 stock worth Rs 80,000 were destroyed by fire. The stock was [8]
insured and the insurance company admitted a claim ofRs60,000 only. Give the
necessary journal entries and show how it will be treated in the final accounts.
58 The page number of the ledger account where the posting has been made fromthe [1]
journal, is recorded in the ________ column of the journal.
a) debit
b) date
c) ledger folio
d) credit

59 Consider the following statements with regard to the advantages of Journal: [1]
1. Information about business transactions can be easily obtained on a timely
basis, as transactions are recorded in chronological order.
2. With the help of the narration that is mandatory for every transaction, it is
possible to understand the correct nature of the entry.
3. Chances of errors are minimized, as both debit and credit aspects are recorded.
4. They form the basis for posting entries into the ledger.
Identify the correct statement/statements:
a) i, ii and iv
b) i, ii, iii and iv
c) ii and iii
d) i and ii

60 Fill in the blanks: [3]

 1. Ledger account gives the folio of ________.
2. Outstanding rent will be debited to ________ A/c.
3. For goods returned by customer ________ A/c is debited.

61 State True or False: [7]

1. The process of recording a transaction in the Ledger is called posting.
2. All business transactions are first of all recorded in a Ledger.
3. Posting is made at the debit side of an account, which has been credited in the
Journal Entry.
4. Personal accounts may have either debit or credit balance.
5. Payment to a creditor means an increase in asset and a decrease in liability.
6. Nominal accounts include the accounts of all expenses and incomes.
7. Wages paid to workers for the installation of new Machinery should be debited
to wages account.

Question No. 62 to 63 are based on the given text. Read the text carefully and [2]
answer the questions:
Pradhan Opticals is a spectacles shop in Lucknow. The shop procures the frames from
a local frame manufacturing firm. The shop arranges the lenses from Delhi as and
when orders come in according to specifications by the customer.
After the pandemic, to boast the business further, it decided to enter into collaborations
with hospital chains to provide the black spectacles required after the cataract surgery.
It shipped 20,000 units of ₹ 5 each of such spectacles to the local hospital. This
transaction was on credit basis. However, the hospital returned 10,000 units as those
units were found to be defective.
After 6 months, the hospital chain went bankrupt and the shop lost its money as bad
debt. It decided to stop the credit policy altogether so that it prevents losses in the
future.

At the end of the year, the company was left with ₹ 1,00,000 worth of goods and no
debtors. The company also had a creditor of raw materials of ₹ 20,000 and a creditor of
a small machinery (not written off) ₹ 10,000.

62 What was the affect of the return by the hospitals on the accounting equation?
[ Use format Assets = Liabilities + Capital]
a) (50,000) + 50,000 = 0 + 0
 b) (50,000) + (50,000) = 0 + 0
c) 50,000 = 50,000 + 0
d) (50,000) = (50,000) + 0

63 What was the capital of the firm at the end of the year?
a) ₹ 90,000

b) ₹ 80,000

c) ₹ 70,000

d) ₹ 1,00,000

Question No. 64 to 67 are based on the given text. Read the text carefully and [4]
answer the questions:
Insha is a student of Class 11 Commerce. She is studying the subject of accountancy
for the first time. After studying the basics of accounting, their teacher recently taught
them about the books of original entry. The teacher also taught them posting entries to
a ledger. The teacher again reiterated that the books of original entry and ledger are
fundamental for maintaining records in any business. After teaching them the chapter
thoroughly, an objective question test is being held for the students. You are required
to answer the following questions in the test on Insha’s behalf.

64 When an entry is made in journal

a) accounts to be credited listed first.
b) accounts to be debited listed first.
c) assets are listed first.
d) accounts may be listed in any order.

65 The ledger folio column of journal is used to

a) record the date on which amount posted to a ledger account.
b) record the number of amounts posted to the ledger account.
c) record the number of ledger account to which information is posted.
d) record the page number of the ledger account.

66 If a transaction is properly analysed and recorded

a) one account will be used to record transaction.
 b) one account balance will increase and another will decrease.
c) total amount debited will equals total amount credited.
d) only two accounts will be used to record the transaction.

67 In a journal, transactions are recorded in ________ order.

a) anachronistic
b) Systematic
c) chronological
d) random