Computers in Accounting

 

Time 3 Hours

Maximum Marks: 90

General Instructions:

(i) This paper consists of two parts A and B both are compulsory.
(ii) Attempt all parts of a particular question at a place.

Part A: Financial Accounting-l

1. What is meant by "purchases"? 1
2. Briefly explain the term " Accounting standards" 1
3. Give any one transaction that "increases one asset and decreases the other asset''. 1
4. Write any one distinction between provisions and reserves. 1
5. What do you mean by " Direct expenses"? 1
6. Write any one advantage of maintaining secret reserves. 1
7.

On which side of the trial balance, the following ledger balances will appear :

(a) Machinery
(b) Drawings
(c) Bank loan
(d) Commission received
(e) Carriage inwards
(f) Carriage outwords.

 3
8. What do you mean by one-sided errors ? Explain with the help of two examples. 3
9.

Write the treatment of following items while preparing final accounts:-

(a) Outstanding Expenses
(b) Accrued Income

 3
10. Name any four users of accounting information. Why do they need accounting information ? 4
11.

Pass journal for the following transactions :

(i) Purchased furniture for Rs 25000/- and paid Rs. 200/- for its carriage.
(ii) Goods worth Rs1500/- and cash Rs500/- were given as charity.
(iii) Wages due to labourers Rs5000/-
(iv) Received cash Rs2000/- from Tushar for bad- debts written off last year		 4
12. Enter the following transactions in a cash book with bank column:-
2010   Rs.
Jan 1 Cash in hand 100000
Jan 1 Bank overdraft 5000
Jan 3 Sold goods to Ram 10000
Jan 4 Sold goods for cash 5000
Jan 5 Received a chaque from Ram 10000
Jan 6 Cash deposited into bank 20000
Jan 15 Paid salary by cheque 8000
Jan 17 Received a cheque from Yogesh 9000
Jan 20 Paid to Mohan Rs.1485 in full settlement of 1500
Jan 21 Yogesh's cheque returned dishonoured.  
4
13. Rectify the following errors assuming that suspense A/c was opened:-
(a) Repairs on machinery Rs 1000 debited to machinery account by Rs 10000
(b) Balance of sales returns book of Rs 350 was not included in the accounts.
(c) Sales Book was overcast by Rs 1000/
(d) Discount allowed to Mahesh Rs 180 has not been posted to discount allowed A/c		 4
14.

Explain the following:-
A. Going concern concept
B. Materiality principle
C. Conservatism principle

 6

 

CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari ) 
Email Id : [email protected]

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