class- 11 accountancy sample paper 2020-2021 · 2021. 1. 22. · sample paper 2020-2021 time...

ACCOUNTANCY CLASS 11

SET - 1

Class- 11

Accountancy

Sample Paper 2020-2021

Time allowed: 3 hours Maximum Marks: 80

General Instructions:

● Question nos. 1 to 9 and 18 to 26 are very short answer type questions carrying 1 mark each.

● Question nos. 10 and 27 are short answer type–I questions carrying 3 marks each.

● Question nos. 11 to 13 and 28 are short answer type–II questions carrying 4 marks each.

● Question nos. 14, 15 and 29, 30 are long answer types–I questions carrying 6 marks each.

● Question nos. 16 and 17 are long answer type–II questions carrying 8 marks each.

Part A - Financial Accounting I

1. Explain ‘Reliability’ as a qualitative feature of accounting. 1

Answer: The information must be based on facts and can be verified through source

documents by anyone. It must be free from bias and errors.

2. Define depreciation. 1

Answer: Depreciation is defined as reduction in the value of fixed assets due to efflux of

time, usage, obsolescence, and end of legal rights.

3. Pass the rectification entry for the following transaction: 1

Transaction: Sales of ₹ 20,000 passed through the purchase book.

Answer: Cash A/c Dr. 40,000

To Sales A/c 20,000

To Purchases A/c 20,000

4. X Ltd. purchased a machinery of ₹1,00,000 on october 1, 2020. The useful life of the asset is 10 years and salvage

value is ₹20,000. Calculate the amount of depreciation to be charged in the year 2020-2021.

1

Answer: Depreciation = Purchase Price - Salvage Value

Useful Life of the Asset

= ₹1,00,000 - ₹ 20,000

10 Years

= ₹ 8,000

5. Purchase goods for ₹10,000 and receive trade discount at 10% and cash discount of 5%. Purchases account will

be debited by: 1

(a) ₹ 10,000

(b) ₹ 1,000

(c) ₹ 9,000

(d) ₹ 8,550

Answer: ₹ 9,000. (₹10,000 - 10%). Cash discount will be shown in journal entry

separately.

https://byjus.com/?utm_source=pdf-click



6. What will be the journal entry for endorsement of bills in the books of drawer, drawee, and endorsee?

1

Answer:

In the books of drawer In the books of drawer: In the books of endorsee

Endorsee’s A/c Dr.

To Bill Receivable A/c

No entry Bill Receivable A/c Dr.

To Drawee’s A/c

7. Withdrawal of goods for personal use is known as ____________. 1

Answer. Drawings

8. Mention any two objectives of preparing trial balance. 1

Answer: The two objectives of preparing trial balance are:

(a) It checks the arithmetical accuracy of the ledger accounts.

(b) It helps in locating errors.

9. Explain dual aspect principle. 1

Answer: According to dual aspect principle, very transaction has two impacts one being

debit and other being credit impacts. Transaction will be impacted in such a way that debit is always equal to

credit.

10. Pass the necessary journal entries for the following transactions: 3

(a) Purchased plant for ₹1,00,000 by paying ₹20,000 as cash and balance to be paid on later date.

(b) Goods costing ₹80,000 were sold for ₹1,20,000.

(c) Proprietor paid a ₹2,000 household electricity bill.

(d) Paid cash ₹50,000 to Vinay, availed discount of 4%.

Or

Prepare accounting equation for the following transactions. 3

(a) Commenced business with cash ₹1,50,000.

(b) Purchased furniture for ₹10,000.

(c) Cash withdrawn by owner for ₹2,000.

(d) Sold furniture to Raman of ₹1,800 (Costing 2,000)




Answer:

Journal

Date Particulars L.F. Debit (₹) Credit (₹)

Plant A/c Dr.

To Cash A/c

To Creditors A/c

(Purchased plant by paying Rs. 20,000 as cash and

balance to be paid later)

Cash A/c Dr.

To Sales A/c

(Goods sold)

Drawings A/c Dr.

To Cash A/c

(Goods withdrawn)

1,00,000

1,20,000

2,000

50,000

20,000

80,000

1,20,000

2,000

48,000

2,000

Vinay A/c Dr.

To Cash A/c

To Discount received A/c

(Payment made to Vinay and discount received)

Or

Transac

tions Assets Liabilities + Capital

Cash + Furniture + Debtors Creditors + Owner’s Capital

a.

b. 1,50,000 + 0 + 0

(10,000) + 10,000 + 0

0 + 1,50,000

0 + 0

New

Equatio

n 1,40,000 + 10,000 + 0 0 + 1,50,000

c. (2,000) + 0 + 0 0 + (2,000)

New

Equatio

n 1,38,000 + 10,000 + 0 0 + 1,48,000

d. 0 + (2,000) + 1,800 0 + (200)

New

Equatio

n 1,38,000 + 8,000 + 1,800 0 + 1,47,800




11. Prepare double column cash book for the following transactions: 4

Particulars Amount

(₹)

(a)

(b)

(c)

(d)

(e)

(f)

Opening cash balance

Opening bank balance

Payment made for purchases

Deposited into bank

Withdrawn from bank

Cheque received from Ramia for ₹2,000. However this cheque was deposited into

the bank next month.

10,000

15,000

2,000

8,000

5,000

Or

Record the below transactions in the sales book. 4

Date Particulars

2020

Jan 1

Jan 2

Jan 3

Jan 4

Jan 5

M/s Koyla sold on credit:

100 electric bulbs at ₹100 each to M/s Ramaiah (Invoice no. 206)

20 air conditioners at ₹20,000 each to M/s Priya (Invoice no. 207)

10 water cooler at ₹5,000 each to M/s Garima (Invoice no. 208)

10 electric kettle at ₹1,000 each to M/s Grishma (Invoice no. 209)

16 geyser at ₹8,000 each to M/s Somya (Invoice no. 210)

Answer:

Double column cash book

Date Particulars L.F Cash

(₹)

Bank (₹) Date Particulars L.F Cash

(₹)

Bank

(₹)

Balance b/d

Cash A/c

Bank A/c

Ramia’s A/c

c

c

10,000

-

5,000

2,000

17,000

15,000

8,000

-

23,000

Purchases A/c

Bank A/c

Cash A/c

Balance c/d

c

c

2,000

8,000

-

7,000

17,000

-

-

5,000

18,000

23,000

Or




Sales Book

Date Particulars Invoice

No.

L.F Details

(₹)

Total

(₹)

2020

Jan 1

Jan 2

Jan 3

Jan 4

Jan 5

Jan 31

M/s Ramaiah:

100 Electric bulbs at ₹100 each

M/s Priya:

20 Air conditioner at ₹20,000 each

M/s Garima:

10 Water cooler at ₹5,000 each

M/s Grishma:

10 Electric kettle at ₹1,000 each

M/s Somya:

16 Geysers at ₹8,000 each

Sales A/c Cr.

206

207

208

209

210

10,000

4,00,000

5,00,000

10,000

1,28,000

10,48,000

12. On 31st March, 2020 the cash book of Ms. Reva showed a balance of ₹1,40,000. The balance in the passbook was

different due to the following reasons. Prepare a bank reconciliation statement.

4

(a) A cheque of ₹14,200 was deposited on 25th March, has not been credited yet.

(b) Interest charged by the bank ₹1,600 not recorded in the cash book.

(c) Payment side of the cash book is undercast by ₹2,000.

(d) A cheque of ₹14,000 deposited into the bank has been dishonoured.

(e) Direct deposit made by customer ₹10,000.

Answer:

Bank Reconciliation Statement of Reva

as on March 31, 2020

Particulars Amount (₹)

Balance as per Cash Book

Add: Direct deposit made by customer

Less: Cheque deposited but not credited by bank

Interest charged by bank

Cheque deposited dishonoured

Payment side of the cash book undercast

Balance as per Pass Book

1,40,000

10,000

(14,200)

(1,600)

(14,000)

(2,000)

1,18,200




13. Rectify the following errors. 4

(a) Credit sales to Keshav for ₹5,000 were recorded in the purchase book.

(b) Goods costing ₹1,000 used by proprietors for personal use have been debited to the debtor's account.

(c) Credit purchases from Rhea for ₹50,000 were recorded as ₹5,000.

(d) Sales book overcast by ₹1,500

Answer:

Journal


Keshav’s A/c Dr.

To Sales A/c

To Purchases A/c

(Credit sale to Keshav recorded through purchase book,

now rectified)

Drawings A/c Dr.

To Debtor’s A/c

(Goods withdrawn by proprietor wrongly debited to

debtor’s account, now rectified)

Purchases A/c Dr.

To Rhea’s A/c

(Credit purchases from Rhea wrongly recorded, now

rectified)

Sales A/c Dr.

To Suspense A/c

(Sales book overcast by Rs. 1,500, now rectified)

10,000

1,000

45,000

1,500

5,000

5,000

1,000

45,000

1,500

Or




From the following list of balances, prepare a trial balance. 4

Account Title Amount (₹)

Capital A/c

Purchases A/c

Sales A/c

Salary A/c

Sales Return A/c

Purchase Return A/c

Provision for Doubtful Debts A/c

Motor Van A/c

Furniture A/c

Drawing A/c

Interest Received A/c

Land

1,00,000

50,000

80,000

1,500

2,500

1,000

800

15,000

20,000

3,000

2,700

92,500




Answer:

Trial Balance

Account Title L.F Debit (₹) Credit (₹)

Capital A/c

Purchases A/c

Sales A/c

Salary A/c

Sales Return A/c

Purchase Return A/c

Provision for Doubtful Debts A/c

Motor Van A/c

Furniture A/c

Drawing A/c

Interest Received A/c

Land

-

50,000

-

1,500

2,500

-

-

15,000

20,000

3,000

-

92,500

1,00,000

-

80,000

-

-

1,000

800

-

-

-

2,700

-

Total 1,84,500 1,84,500

14. On 1st July, 2020 Mahira Ltd. purchased machinery for ₹1,00,000 and spent ₹20,000 on its installation. Depreciation is to

be charged at 10% under written down value method. Prepare machinery account and depreciation account in the books of

Mahira Ltd. for two years. The accounts are closed on 31st december every year. 6

Answer:

Dr. Machinery A/c Cr.

Date Particulars J.F Amount

(₹)


(₹)

2020

July 1

2021

Jan 1

Cash A/c

Balance b/d

1,20,000

1,20,000

1,14,000

1,14,000

2020

Dec 31

Dec 31

2021

Dec 31

Dec 31

Depreciation A/c

(1,20,000 x 10% x 6/12)

Balance c/d

Depreciation A/c

(1,14,000 x 10%)

Balance c/d

6,000

1,14,000

1,20,000

11,400

1,02,600

1,14,000




Dr. Depreciation A/c Cr.


(₹)


(₹)

2020

Dec. 31

2021

Dec 31

Machinery A/c

Machinery A/c

6,000

6,000

11,400

11,400

2020

Dec. 31

2021

Dec. 31

Profit and Loss A/c

Profit and Loss A/c

6,000

6,000

11,400

11,400

15. Reena sold goods for ₹1,00,000 to Sunil on April 1 and drew upon him a bill of

exchange payable after 2 months. Sunil accepted the bill and returned it to Reena. Reena

discounted the bill at 12% p.a from the bank on the same day. Sunil met his acceptance on

maturity. 6

Journalise the above transaction in the books of Reena and Sunil.

Answer:

In the books of Reena

Journal

Date Particulars L.F. Debit

(₹)

Credit

(₹)

April 1

April 1

April 1

Sunil’s A/c Dr.

To Sales A/c

(Goods sold on credit)

Bill Receivable A/c Dr.

To Sunil’s A/c

(Bill drawn)

Bank A/c Dr.

Discounting Charges A/c Dr.

To Bill Receivable A/c

(Bill discounted)

1,00,000

1,00,000

98,000

2,000

1,00,000

1,00,000

1,00,000




In the books of Sunil

Journal

Date Particulars L.F. Debit

(₹)

Credit

(₹)

April 1

April 1

June 3

Purchases A/c Dr.

To Reena’s A/c

(Goods purchased on credit)

Reena’s A/c Dr.

To Bills Payable A/c

(Bill accepted)

Bills Payable A/c Dr.

To Bank A/c

(Bill matured)

1,00,000

1,00,000

1,00,000

1,00,000

1,00,000

1,00,000

16. Journalise the following transactions in the books of Riddhi. 8

Sr. No Transaction

(a)

(b)

(c)

(d)

(e)

(f)

Purchased goods for ₹80,000 plus CGST and SGST at 5%.

Sold goods on credit for ₹1,00,000 plus CGST and SGST at 10%.

Paid rent of ₹15,000 plus CGST and SGST at 8%.

Sold goods to Ankita for ₹60,000 plus CGST and SGST at 10% each, allowing him 5% trade

discount and 10% cash discount. Received half of the amount by cash and balanced by cheque.

Sold goods costing ₹80,000 to Kushal at a profit of 10% on cost less 5% trade discount plus

IGST at 9%. Cash discount is allowed at 10%.

Purchase goods from Tanmay of ₹50,000 plus IGST at 5% and 10% trade discount and 6%

cash discount. 50% of the amount paid at the time of purchase.




Answer:

In the books of Ravi

Journal


a.

b.

c.

d.

e.

f.

Purchases A/c Dr.

Input CGST A/c Dr.

Input SGST A/c Dr.

To Cash A/c

(Purchased goods for cash and paid CGST and SGST)

Debtors A/c Dr.

To Sales A/c

To Output CGST A/c

To Output SGST A/c

(Goods sold on credit and CGST and SGST collected)

Rent A/c Dr.

Input CGST A/c Dr.

Input SGST A/c Dr.

To Cash A/c

(Paid rent)

Cash A/c (WN i) Dr.

Bank A/c Dr.

Discount Allowed A/c Dr.

To Sales A/c

To Output CGST A/c

To Output SGST A/c

(Sold goods and charged CGST and SGST)

Cash A/c (WN ii) Dr.

Discount Allowed A/c Dr.

To Sales A/c

To Output IGST A/c

(Sold goods and charged IGST)

Purchases A/c (WN iii) Dr.

Input IGST A/c Dr.

To Cash A/c

To Creditors A/c

To Discount Received A/c

(Goods purchased and IGST paid)

80,000

4,000

4,000

1,20,000

15,000

1,200

1,200

30,780

30,780

6,840

88,783

9,865

45,000

2,250

88,000

1,00,000

10,000

10,000

17,400

57,000

5,700

5,700

83,600

15,048

23,625

22,207

1,418




Working Notes:

i. Sale Value ₹60,000

Less: Trade Discount ₹(3,000)

₹57,000

Add: CGST at 5% ₹5,700

Add: SGST at 5% ₹5,700

₹68,400

Less: Cash Discount at 10% ₹(6,840)

₹61,560

ii. Cost Price ₹80,000

Add: Profit at 10% ₹8,000

Sale Value ₹88,000

Less: Trade Discount at 5% ₹(4,400)

₹83,600

Add: IGST at 18% ₹15,048

₹98,648

Less: Cash Discount at 10% ₹(9,865)

₹88,783

iii. Purchase Price ₹50,000

Less: Trade Discount at 10% ₹(5,000)

₹45,000

Add: IGST at 5% ₹ 2,250

₹47,250

Less: Cash Discount ₹(1,418)

(Rs. 47,250/2) x 6% ₹45,832

17. On 31st December, 2017 M/s Tanuj & Sons purchased a truck for ₹15,00,000. On July 1, 2018, a truck was involved in an

accident and was completely destroyed and ₹4,50,000 was received from the insurance company in full settlement. On 1st

July, 2018 a new truck was purchased for ₹17,00,000. The new truck was sold for ₹3,00,000 on 1st October 2020.

Depreciation is to be provided at 20% p.a. On the written down value every year. The books are closed on 31st March every

year.

Prepare a truck account and depreciation account for the year 2017 to 2020. 8




Answer:

Dr. Truck A/c Cr.

Date Particulars Amount

(₹)


(₹)

2017

Dec 31

2018

Apr 1

July 1

2019

Apr 1

2020

Apr 1

Bank A/c (Truck 1)

Balance b/d

Bank A/c (Truck 2)

Balance b/d

Balance b/d

15,00,000

15,00,000

14,25,000

17,00,000

31,25,000

14,45,000

14,45,000

11,56,000

14,45,000

2018

Mar 31

Mar 31

2018

July 1

July 1

July 1

2019

Mar 31

Mar 31

2020

Mar 31

Mar 31

2020

Oct 1

Oct 1

Oct 1

Depreciation A/c

Balance c/d

Depreciation A/c

Bank A/c (Truck 1)

Profit and Loss A/c

Depreciation A/c

Balance c/d

Depreciation A/c

Balance c/d

Depreciation A/c

Bank A/c

Profit and Loss A/c

75,000

14,25,000

15,00,000

71,250

4,50,000

9,03,750

2,55,000

14,45,000

31,25,000

2,89,000

11,56,000

14,45,000

1,15,600

3,00,000

7,40,400

14,45,000




Dr. Depreciation A/c Cr.


(₹)


(₹)

2018

March 31

July 1

2019

March 31

2020

March 31

Oct 1

Depreciation A/c

Depreciation A/c

Depreciation A/c

Depreciation A/c

Depreciation A/c

75,000

71,250

1,46,250

2,55,000

2,55,000

2,89,000

1,15,600

4,04,600

2018

March 31

July 1

2019

March 31

2020

March 31

Oct 1

Profit and Loss A/c

Profit and Loss A/c

Profit and Loss A/c

Profit and Loss A/c

Profit and Loss A/c

75,000

71,250

1,46,250

2,55,000

2,55,000

2,89,000

1,15,600

4,04,600

Working Note: Calculation of Depreciation

Particulars Truck 1 Truck 2

Cost Price on Dec. 31, 2017

Less: Depreciation for 4 months

Written Down Value on 1st April, 2018

Less: Depreciation for 3 months/9 months

Written Down Value on 1st July, 2018/31st March, 2019


Written Down Value on 31st March, 2020


Written Down Value on 1st October, 2020

15,00,000

(75,000)

14,25,000

(71,250)

13,53,750

-

-

17,00,000

(2,55,000)

14,45,000

(2,89,000)

11,56,000

(1,15,600)

10,40,400

Part - B: Financial Accounting II

18. From the following information calculate the manager's commission after charging such

commission. 1

Net Profit = ₹5,50,000, Rate = 5%

a. ₹26,190

b. ₹55,000

c. ₹27,500

d. ₹55,000

Answer: Manager’s Commission = Net Profit x Rate




100 + Rate

= ₹ 5,50,000 x 5

105

= ₹26,190

19. Which of the following items will be recorded in a profit and loss account? 1

(a) Wages and Salaries

(b) Salaries and Wages

(c) Opening Stock

(d) Sales

Answer: Salaries and Wages. It is an indirect expense and will be recorded in profit and loss

account.

20. What will be the accounting treatment of income tax paid by the proprietor? 1

Answer: Payment of income tax is considered as a drawing as it is a personal nature expense.

Drawings will be deducted from capital in the balance sheet.

21. Sales = ₹1,70,000, Sales Return = ₹20,000, COGS = ₹1,25,000. Calculate gross

Profit. 1

Answer: Gross Profit = Sales - Sales Return - COGS

= ₹1,70,000 - ₹20,000 - ₹1,25,000

= ₹25,000

22. Define transaction processing system. 1

Answer: Transaction processing system is a computerised system that records, processes,

validates, and stores transactions in various functional areas of a business for a

subsequent retrieval and usage.

23. Pass the adjustment entry for outstanding salary of ₹1,000. 1

Answer: Salary A/c Dr. 1,000

To Outstanding Salary A/c 1,000

24. Drawings = ₹18,000, Profit for the Year = ₹28,000, Closing Capital = ₹73,000. Calculate

the opening capital. 1

Answer: Opening Capital = Closing Capital + Drawings - Opening Capital

= ₹73,000 + ₹18,000 - ₹28,000

= ₹63,000

25. State the different elements of a computer system. 1

Answer:

The following are the elements of a computer system.

(i) Hardware (ii) Software

(iii) People (iv) Procedure

(v) Date (vi) Connectivity

26. Give three examples of a transaction processing system. 1

Answer:

Examples of transaction processing system are ATM, Order Processing and Payroll Applications.

27. Calculate the amount of manager’s commission to be shown in books of accounts?

Gross profit - ₹2,00,000, General expenses - ₹88,000, Depreciation expenses - ₹

12,000. Manager is allowed commission at 10% on net profit before charging such

commission. 3




Answer: Net Profit = Gross Profit - Salary - General Expenses - Depreciation

= Rs. 2,00,000 - Rs. 88,000 - Rs. 12,000

= Rs. 1,00,000

Manager’s Commission = Net Profit x 10

100

= Rs. 1,00,000 x 10

100

= Rs. 10,000

OR

State any three advantages of the Computer System. 3

Answer:

(a) Speed: Computers are really quick in performing a task. They can perform any calculations in a fraction of

a second. As modern computers can perform 100 million calculations per second, the industry-standard

Million Instruction Per Second has been developed to classify computers according to their speed.

(b) Accurate: It measures the level of precision with which computations and various operations are

performed. Most of the errors found in computers occur due to bad programming.

(c) Reliability: As users can stay dependent on the information given by computer

anytime, Computers are reliable. They can perform repetitive tasks without

getting tired.

(d) Versatility: The ability of computers to perform various types of tasks: basic and

complex is known as versatility.

(e) Storage: Computers can store huge amounts of data in a very small physical

space.

28. With the help of an example, briefly state the meaning of parameter queries. 4

Answer:

A Parameter Query is a query where for selecting a set of records, the user is asked to enter parameters or criteria

through an input box. A Parameter Query is useful when the same query is to be repeated with different criteria.

In short, it implies the execution of the same set of queries with different requirements.

For example, the same set of queries is required for different accounts code, while extracting the information to

prepare ledger.

Let us consider the given below SQL statement.

PARAMETERS Accounts Name Text (145)

SELECT Name

FROM Accounts

WHERE Code = Account No

In the above query, PARAMETERS clause is used to represent the variable Account No. This SQL statement

requires the user to provide the different values of Account No.




29. Following is the trial balance of M/s Shreyas Bros. as on 31st December, 2020. 6

Particulars Debit

(₹)

Credit

(₹)

Cash in Hand

Cash at Bank

Purchases

Return Outwards

Sales

Return Inwards

Wages

Fuel and Power

Carriage on Sales

Carriage on Purchases

Opening Stock

Building

Land

Machinery

Salaries

Patents

General Expenses

Insurance

Capital

Drawings

Debtors

Creditors

Input CGST

Input SGST

Output IGST

540

2,360

40,675

-

-

680

10,480

4,730

3,200

3,020

5,760

30,000

10,000

20,000

15,000

7,500

3,000

600

-

5,245

14,500

-

1,250

1,250

-

-

-

500

98,780

-

-

-

-

-

-

-

-

-

-

-

-

-

71,00

-

-

6,300

-

-

1,79,080 1,79,080

Additional Information:

i. Closing stock is valued at ₹6,800.

ii. Machinery is to be depreciated at 10% and patents at 20%.

iii. Salaries for the month of March are outstanding for ₹1,500.

iv. Insurance includes ₹85 for next year.

v. Wages include ₹2,000 for construction of temporary sheds.

vi. Provision for doubtful debts is to be created at 5%.




Answer:

Trading and Profit and Loss Account

Dr. for the year ended 31st March, 2020 Cr.

Particulars Amount

(₹)


Opening Stock

Purchases 40,675

Less: Returns (500)

Wages 10,480

Less: Spent on Shed (2,000)

Fuel and Power

Carriage on Purchases

Gross Profit

Carriage on Sales

Salaries 15,000

Add: Outstanding 1,500

General Expenses

Insurance 600

Less: Prepaid (85)

Depreciation:

Machinery at 10% 2,000

Patents at 20% 1,500

Provision for Doubtful Debts

Net Profit

5,760

40,175

8,480

4,730

2,040

43,715

1,04,900

3,200

16,500

3,000

515

3,500

725

16,275

43,715

Sales 98,780

Less: Returns (680)

Closing Stock

Gross Profit

98,100

6,800

1,04,900

43,715

43,715




Balance Sheet

as at 31st March, 2020

Capital and Liabilities Amount (₹) Assets Amount (₹)

Capital 71,000

Add: Net Profit 16,275

87,275

Less: Drawings (5,245)

Creditors

Outstanding Salaries

82,030

6,300

1,500

89,830

Building 30,000

Add: Wages on Shed 2,000

Land

Machinery 20,000

Less: Depreciation (2,000)

Patents 7,500

Less: Depreciation: (1,500)

Debtors 14,500

Less: PFDD (725)

Prepaid Insurance

Closing Stock

Cash in Hand

Cash at Bank

32,000

10,000

18,000

6,000

13,375

85

6,800

540

2,630

89,830

Working Note:

1. Set off of GST

CGST (Rs.) SGST (Rs.) IGST (Rs.)

Input GST

Less: Output GST

1,250

-

1,250

-

-

(2,500)

Balance

Less: Set-off from Output GST

1,250

(1,250)

1,250

(1,250)

(2,500)

2,500

- - -




30. Prepare the suitable accounts and find out the missing figure, if any: 6


Balance of Debtors as on April 01, 2018 17,50,000

Balance of Bills receivable as on April 01, 2018 12,50,000

Balance of Bills receivable as on March 31, 2019 8,90,000

Cash received from debtors 14,70,000

Cheque dishonoured 2,50,000

Discount allowed 80,000

Cheque received and deposited in the bank 5,50,000

Irrecoverable amount 20,000

Bills discounted 1,40,000

Return inwards 70,000

Bills receivable received from customers 1,90,000

Bills receivable matured 75,000

Bills endorsed to creditors 1,10,000

Answer:

Dr. Bills receivable Account Cr.


(₹)


(₹)

Balance b/d

Debtors

12,50,000

1,90,000

Cash

Bank

Creditors

Debtors (Bill

dishonoured)

(Balancing figure)

Balance c/d

75,000

1,40,000

1,10,000

2,25,000

8,90,000

14,40,000 14,40,000




Dr. Debtors Account Cr.


(₹)

Date Particulars J.F Am

oun

t

(₹)

Balance b/d

Bank (Cheque

dishonoured)

Sales

(Balancing figure)

17,50,000

2,50,000

3,80,000

Cash

Bank (Cheque received)

Discount allowed

Bad debts

Return inwards

Bills receivable

14,

70,

000

5,5

0,0

00

80,

000

20,

000

70,

000

1,9

0,0

00

23,80,000 23,

80,

000



class- 11 accountancy sample paper 2020-2021 · 2021. 1. 22. · sample paper 2020-2021 time...

Documents