Tamil Nadu 11th Accountancy Model Question Paper 5 English Medium

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TN State Board 11th Accountancy Model Question Paper 5 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, II, III and IV are to be attempted separately.
4. Question numbers 1 to 20 in Part I are Multiple Choice Questions of one mark each.
   These are to be answered by choosing the most suitable answer from the given four alternatives and writing the option code and the corresponding answer
5. Question numbers 21 to 30 in Part II are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Part III are three-mark questions. These are to be answered in above three to five short sentences.
7. Question numbers 41 to 47 in Part IV are five-mark questions. These are to be answered in detail Draw diagrams wherever necessary.

Time: 3:00 Hours
Maximum Marks: 90

PART – I

Answer all the questions. Choose the correct answer: [20 × 1 = 20]

Question 1.
Two or more business units forming a single entity is known as ……………………….
(a) Joint
(b) Merger
(c) Link
(d) Compound
Answer:
(b) Merger

Question 2.
……………………… is irrecoverable debts.
(a) Debtors
(b) Creditors
(c) Bad debts
(d) Loan
Answer:
(c) Bad debts

Question 3.
The word convention refers ………………………
(a) Traditions
(b) Trade
(c) Business
(d) Accounting
Answer:
(a) Traditions

Question 4.
Outsider’s equity is otherwise called as ………………………
(a) Capital
(b) Liabilities
(c) Debtors
(d) Assets
Answer:
(b) Liabilities

Question 5.
Owner’s equity is otherwise called as ………………………..
(a) Capital
(b) Creditors
(c) Debtors
(d) Assets
Answer:
(a) Capital

Question 6.
Net position of an account can be ascertained from ……………………….
(a) Journal
(b) Ledger
(c) Trial balance
(d) Balance sheet
Answer:
(b) Ledger

Question 7.
Total of credit > total of debit = ……………………….
(a) Debit balance
(b) Credit balance
(c) Nil balance
(d) Trial balance
Answer:
(b) Credit balance

Question 8.
Which one of the following account would usually have a debit balance?
(a) Account payable
(b) Cash
(c) Owner equity
(d) Bank loan
Answer:
(b) Cash

Question 9.
Which of the following will be placed in the credit column of the trial balance?
(a) Purchases
(b) Accounts payable
(c) Salaries payable
(d) None
Answer:
(d) None

Question 10.
Suspense account in the trial balance is entered in the …………………….
(a) Trading A/c
(b) Profit & loss A/c
(c) Balance sheet
(d) None
Answer:
(c) Balance sheet

Question 11.
Goods are returned by customers are recorded in ……………………….
(a) Sales book
(b) Sales returns book
(c) Journal proper
(d) Purchase book
Answer:
(b) Sales returns book

Question 12.
If a cheque sent for collection is dishonoured, the debit is given to ……………………….
(a) Suppliers A/c
(b) Bank A/c
(c) Customers A/c
(d) None
Answer:
(c) Customers A/c

Question 13.
A bank pass book is a copy of ……………………….
(a) The cash column of a customer’s cash book
(b) The bank column of a customer’s cash book
(c) The customer’s account in the bank’s ledger
(d) None
Answer:
(c) The customer’s account in the bank’s ledger

Question 14.
Generally, one – sided errors are revealed by ………………………
(a) Credit balance
(b) Debit balance
(c) Trial balance
(d) Balance sheet
Answer:
(c) Trial balance

Question 15.
When a transaction is incorrectly recorded, it is known as ……………………….
(a) Error of principle
(b) Error of commission
(c) Error of omission
(d) Compensating error
Answer:
(b) Error of commission

Question 16.
Straight line method otherwise called ………………………..
(a) Original cost method
(b) Written down value method
(c) Annuity method
(d) Depletion method
Answer:
(a) Original cost method

Question 17.
Which one is matched correctly?
(a) Land purchased – capital expenditure
(b) Goods purchased – capital expenditure
(c) Issue of debentures – revenue receipts
(d) Rent received – Capital receipts
Answer:
(a) Land purchased – capital expenditure

Question 18.
Which one is not matched correctly?
(a) Trading account – wages
(b) Profit and loss account salaries
(c) Capital – asset
(d) Creditors liabilities
Answer:
(c) Capital – asset

Question 19.
Interest on capital is to be debited in ………………………
(a) Profit and loss A/c
(b) Capital A/c
(c) Balance sheet
(d) Trading A/c
Answer:
(a) Profit and loss A/c

Question 20.
There are three components namely input unit, CPU and ……………………….
(a) Data
(b) Secondary storage
(c) Output unit
(d) Primary storage
Answer:
(c) Output unit

PART – II

Answer any seven questions in which question No. 30 is compulsory: [7 × 2 = 14]

Question 21.
List any two functions of accounting?
Answer:

1. Measurement and
2. Forecasting

Question 22.
Define book – keeping?
Answer:
“Book-keeping is an art of recording business dealings in a set of books”. – J.R. Batli boi.

Question 23.
What is meant by journalising?
Answer:
Record of business transactions in the journal is known as Journal entry. The process of recording the transactions in journal is called as journalising.

Question 24.
Complete the accounting equation?

1. Assets = Capital + liabilities; ₹1,00,000 = ₹80,000 + ?
2. Assets = Capital + liabilities; ₹2,00,000 = ? + ₹40,000

Answer:
Assets = Capital + liabilities

1. ₹1,00,000 = ₹80,000 + ₹20,000
2. ₹2,00,000 = ₹1,60,000 + ₹40,000.

Question 25.
Prepare furniture account from the following transactions?

Answer:

Question 26.
What is trade discount?
Answer:
Trade discount is a deduction given by the supplier to the buyer on the list price or catalogue price of the goods.

Question 27.
What is meant by rectification of errors?
Answer:
Depending on the stage at which errors are located, they are subsequently rectified at the respective stage itself.

Question 28.
A firm purchased a plant for ₹40,000. Erection charges amounted to ₹2,000. Effective life of the plant is 5 years. Calculate the amount of depreciation per year under straight line method?
Answer:
Amount of depreciation =
= Cost of plant + erection charges
= ₹40,000 + 2,000
= ₹42,000
= \(\frac{42,000-0}{5 years}\)
= ₹8,400

Question 29.
What is Capital receipt?
Answer:
Receipt which is not revenue in nature is called capital receipt. It is non-recurring in nature.

Question 30.
What are wasting assets?
Answer:
These are the assets which get exhausted gradually in the process of excavation.
Example: mines and quarries.

PART – III

Answer any seven questions in which question No. 40 is compulsory. [7 × 3 = 21]

Question 31.
What are the methods of codification?
Answer:

1. Sequential codes
2. Block codes
3. Mnemonic codes

Question 32.
The trial balance on March 31, 2016 shows the following:
Sundry debtors ₹30,000; Bad debts ₹1,200. It is found that 3% of sundry debtors is doubtful of recovery andis to be provided for Pass adjusting entry and show it how will be appeared in final accounts?
Answer:

Question 33.
Find out the amount of sales from the following information:
Opening stock ₹30,000; Purchases less returns ₹2,00,000; Closing stock ₹20,000; Gross profit margin (oh sales) 30%?
Answer:
Cost of goods sold = opening stock + net purchases – closing stock
= 30,000 + 2,00,000 – 20,000 = 2,10,000

Therefore, percentage of gross profit on cost of goods sold is 30/70 × 100 = 42.85%.
Gross profit = ₹2,10,000 × 30/70
= ₹90,000.
Sales = Cost of goods sold + Gross profit = 2,10,000 + 90,000 = 3,00,000.

Question 34.
A company has purchased a machinery for ₹1,80,000 and spent ₹10,000 for its installation. The estimated life of the machinery is 5 years with a residual value of ₹15,000. Find out the amount of depreciation to be provided every year?
Answer:
Amount of depreciation =  = \(\frac{1,90,00-15,000}{5}\)
= \(\frac{1,75,00}{5}\)
= ₹35,000 per year.

Question 35.
State the account/s affected in each of the following errors:

1. Goods sold to Vasu on credit for ₹1,000 was not recorded in the sales book.
2. The total of sales book ₹2,500 was posted twice.

Answer:

1. Sales account should be credited with ₹1,000.
2. Sales account should be debited with ₹2,500.

Question 36.
Classify the following into personal, real and nominal accounts,

1. Capital
2. Buildings
3. Carriage inwards
4. Cash
5. Commission received
6. Bank

Answer:

1. Capital – Personal account
2. Buildings – Real account
3. Carriage inwards – Nominal account
4. Cash – Real account
5. Commission received – Nominal account
6. Bank – Personal account

Question 37.
Prepare Machinery A/c from the following transactions:

Answer:

Question 38.
State which account should be debited and which account should be credited?

1. Carriage outwards
2. Carriage inwards
3. Sales
4. Purchases
5. Bad debts
6. Interest paid

Answer:

1. Carriage outwards – debited
2. Carriage inwards – debited
3. Sales – credited
4. Purchases – debited
5. Bad debts – debited
6. Interest paid – debited

Question 39.
Mention the subsidiary books in which the following transactions are recorded?

1. Sale of goods for cash
2. Sale of goods on credit
3. Asset purchased on credit

Answer:

1. Sale of goods for cash – cash book
2. Sale of goods on credit – sales book
3. Asset purchased on credit – j oumal proper

Question 40.
From the following particulars of Veera traders, prepare a bank reconciliation statement as on 31^st December, 2017?

1. Credit balance as per bank statement ₹6,000.
2. Amount received by,bank through NEFT for ₹3,500 entered twice in the cash book.
3. Cheque dishonoured amounting to ₹2,500, not entered in cash book.

Answer:

PART – IV

Answer all the questions: [7 × 5 = 35]

Question 41 (a).
Write any five objectives of Accounting?
Answer:

1. To keep a systematic record of financial transactions and events.
2. To ascertain the profit or loss of the business enterprise.
3. To ascertain the financial position or status of the enterprise.
4. To provide information to various stakeholders for their requirements.
5. To protect the properties of an enterprise.

[OR]
(b) What are the differences between Book-keeping and Accounting?
Answer:

Question 42 (a).
Journalise the following transactions in the books of Ramesh who is dealing in computers:

Answer:

[OR]

(b) Show the accounting equation on the basis of the following transactions for Rani, who is dealing in automobiles.

1. Started business with cash ₹80,000.
2. Goods bought on credit from Ramesh ₹10,000.
3. Purchased furniture for cash ₹6,000.
4. Paid creditors by cash ₹8,000.
5. Paid rent by cash ₹500.

Answer:

Question 43 (a).
Prepare direct ledgers from the following transactions?

Answer:

[OR]

(b) Prepare Trial Balance of Murali as on 31.03.2017 from the following information?

Answer:

Question 44 (a).
From the following transactions write up the Sales Day Book of Kamala Stores, a furniture shop?

Answer:

[OR]

(b) Enter the following transactions in a simple cash book of Kunal:

Answer:

Question 45 (a).
From the following information, prepare Bank Reconciliation Statement to find out balance as per bank statement as on 31^st March, 2017?

Answer:

[OR]

(b) Rectify the following errors:

1. Sales book is undercast by ₹100.
2. Sales book is overcast by ₹200.
3. Purchase book is undercast by ₹300.
4. Purchase book is overcast by ₹400.
5. Purchase return boojt is undercast by ₹100.

Answer:

1. Sales account should be credited with ₹100,
2. Sales account should be debited with ₹200.
3. Purchase account should be debited with ₹300.
4. Purchase account should be credited with ₹400.
5. Purchase return account should be credited with ₹100.

Question 46 (a).
A firm purchased a machine for ₹1,00,000 on 01.07.2015. Depreciation is written off at 20% on reducing balance method. The firm closes its books on 31st December each year. Show the Machinery account upto 31.12.2017?
Workings:

Answer:

[OR]

(b) Prepare Trading and Profit and Loss account for the year ended 31^st March, 2016 and the Balance Sheet as on that date from the following informations?

Adjustments:

1. Closing Stock on 31st March, 2016 ₹2,100.
2. Commission received in advance ₹400.
3. Advertisement paid in advance ₹150.
4. Wages outstanding ₹2,000.

Answer:

Question 47 (a).
Enter the following transactions in the three column cash book of Chozhan?

Answer:

[OR]

(b) Prepare Analytical Petty Cash Book from the following particulars under Imprest system?

Answer: