G. D.

Goenka Public School, Agra

FA II 2014-15 XI Commerce
Subject Accountancy
Date : August
MM : 30
Time: 60 minutes

2014

General Instructions:
1. Attempt all questions carefully.
3. An additional time of 5 minutes will be provided for reading the
question paper.
Section A ( 1 mark each)
1. What is an account ?
2. Mention two examples of long term liabilities?
3. What is meant by deferred revenue expenditure ?
4. What is meant by Bills payable ?
Section B ( 3 marks)
5 . What is the importance of financial statements for various
parties ?
6 . Distinguish between Cash Basis and Accrual Basis of
accounting ?
Section C ( 4,5,6 marks)
7. Explain the following :
(i) Matching concept
(ii) Dual Aspect concept
(4
marks)
8. Give transactions with imaginary figures involving the
following:
(i) Decrease in asset , decrease in liability
(ii) Increase in asset ,increase in owners capital
(iii) Increase in one asset ,decrease in another asset
(iv) Increase in one liability ,decrease in another liability
(v) Increase in liabilities ,decrease in owners capital
( 5 marks)

9. Show the effect of following transaction on the accounting

equation :
(i) Manoj started business with
Rs
(a) Cash
2,30,000
(b) Goods
1,00,000
(c) Building
2,00,000
(ii) He purchased goods for cash
50,000
(iii) He sold goods (costing Rs 20,000 )
35,000
(iv) He purchased goods from Rahul
55,000
(v) He sold goods to Varun ( costing Rs 52,000 )
60,000
(vi) He paid cash to Rahul in full settlement
53,000
(vii) Salary paid by him
20,000
(viii) Received cash from Varun in full settlement
59,000
(ix) Rent outstanding
3,000
(x) Prepaid Insurance
2,000
(xi) Commission received by him
13,000
(xii) Amount withdrawn by him for personal use
20,000
(6
marks)
10.Prepare Journal from the transactions given below :
2005 Dec 01 Cash paid for installation of machine
500
2

Dec 02 Goods given as charity

2,000
Dec 04 Interest charge on capital @ 7% p.a when total
capital were
70,000
Dec 06 Received Rs 1200 of a bad debts written off last
year
Dec 08 Goods destroyed by fire
2,000
Dec 10 Rent outstanding
1,000
Dec 13 Interest on drawings
900
Dec 20 Sudhir Kumar who owed me Rs 3,000 has failed to
pay the amount
He pays me compensation of 45 paise in a rupee
Dec 25 Commission received in advance
7,000
Dec 31 Paid Salary
2,000
(5
marks)