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CBSE Class 11 Pre Board 2019 : Accountancy (St Xavier's Sr. Sec. School, Delhi)

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Annual Examination in ACCOUNTANCY Std. 11 25-2-2019 Time : 3 hrs. Max. Marks : 90 General Instructions: i) This paper contains 24 questions and all questions are compulsory. ii) There is no word limit for numerical questions. 1. Which qualitative characteristics of accounting information are reflected when accounting information is clearly presented? (1) 2. Due to which principle contingent liabilities are shown in the balance sheet? (OR) Due to which principle full cost of an asset is not treated as an expense in the year of its purchase? (1) 3. Arjun started a business on 1st April 2017 with a capital of Rs 20,000 and a loan of Rs 10,000 borrowed from Geeta. During the year he made a profit of Rs 10,000. Find Closing capital and closing assets. (OR) Geeta commenced her cloth business on 1st April 2017 with a capital of Rs 60,000. On 31st March 2018 his assets were Rs 1,00,000 and liabilities were Rs 20,000. Find out her closing capital and profits earned during the year. (1) 4. What is meant by journalising? (1) 5. What is an opening entry? (1) 6. Calculate net sales and gross profit if the cost of goods sold is Rs 2,00,000 and gross profit is 20% on sales. (OR) Net sales during the year Rs 3,00,000. Gross profit is 25% on cost. Find out gross profit and cost of goods sold. (1) 7. Briefly explain any three limitations of financial accounting. (3) 8. Differentiate between Single entry system and Double entry system on the basis of Authenticity, Use and Accounts. (3) 9. Write three advantages of AIS. (3) 10. Differentiate between bills of exchange and promissory note on the basis of liability, parties and noting. 11. Calculate the value of closing stock from the following information: Purchases Rs 93,000, Wages Rs 20,000, Sales Rs 1,20,000, Carriage outwards Rs 3,200, Opening stock Rs 16,000, Rate of Gross profit 25% on cost. (3) 12. Define Trial Balance. Why it is prepared? (3) 13. Explain the Principle of Prudence and Realisation concept with the help of examples. (4) 14. Show i) ii) iii) iv) 15. Prepare sales Return Book in the books of Ram Lal & Co, Hisar (Haryana) from the following transactions assuming CGST @6% and SGST @ 6%. 2018 April 6: Goods returned by Ganga Prasad & co, Karnal Haryana:1 Table Fan @ Rs 6,000 Less: Trade Discount 15%. April 12: Shyam Oil Mills Yamuna Nagar ( Haryana) returned defective goods valued Rs 40,000. April 18: Allowance allowed by Sanjay & Co. Faridabad (Haryana) on account of mistake in the invoice Rs 2,500. (OR) Write three disadvantages of AIS. (3) the effect of the following transaction on the Accounting Equation: Started business with cash Rs 50,000 and Goods Rs 20,000. Bought goods for cash Rs 15,000 and on credit for Rs 10,000. Goods costing Rs 24,000 sold at a profit of 33.33%. Half the payment received in cash. Purchased furniture for office use Rs 6,000 and for household use Rs 4,000. (4) (4)

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