Model-Question-of-Optional-I-Accounting-Subject-Code-1031-Grade-11-XI-2077-2078-NEB-Download-in-PDF
NATIONAL EXAMINATIONS BOARD [NEB]
Optional I ACCOUNTING
Grade XI/Class 11
Model Question (New Course)
Regular Students | Subject Code: 1031
Time - 3 hrs
Full Marks - 75

Candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.

Also Check:

NEB Grade 11-XI Exam Model Question Papers 2078-2021 for All Subjects | Download in PDF. alert-success

Section 'A'

Very Short Answer Questions.

Attempt All Questions. (11×1 = 11)

1. What is book-keeping?

2. Mention any two objective of accounting.

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3. Write the meaning of money measurement concept.

4. Define trial balance.

5. What is cross cheque?

6. Write about error of principle.

7. What is reserve?

8. Write any one difference between capital expenditure and revenue expenditure.

9. What is dhapot?

10. Define bank cash book.

11. State the use of budget sheet.

Section “B”

Short Answer Questions

Attempt All Questions) (8 x 5 = 40)

12. State accounting process in brief. [3]

B. Prepare accounting equation from following details. [2]

a) Started business with cash Rs. 2, 00,000 and furniture Rs. 5, 00,000.

b) Purchase goods worth Rs. 80,000 on cash and 70,000 on credit.

c) Paid rent Rs. 90,000.

d) Sold goods costing Rs 20,000 on cash Rs. 25,000.

13.

A. Cash and banking transactions are given below:

Poush 1: Opening balance of cash and bank are Rs. 60,000 and 2, 00,000 respectively.

Poush 13: Cash deposited in bank of Rs. 30,000.

Poush 22: Paid of Rs. 32,000 to Ram through cheque for settling account of Rs. 35,000.

Poush 27: Received a cheque from Aviral of Rs. 19,000 and cash Rs. 3,000 for selling machine.

Required:

Triple column cash book (3)

B. Transactions related to furniture purchases are given below:

Dec 5: Purchase from Karuna suppliers

10 coffee tables for Rs. 1,00,000.
20 small chairs @ Rs. 4,000 each.
Trade discount @ 10%

Dec 19: Purchased from Anjali traders:

5 beds @ 15,000 each.
8 pieces of sofa @ Rs. 25,000 per sofa.

Required:

Purchase book (20)

14. Following information are given:

a) Cash book showed a balance of Rs. 80,000.

b) Bank credited Rs. 20,000 only out of various cheques of Rs. 75,000 deposited in the bank.

c) Cheques issued of Rs. 90,000 but a cheque of Rs. 10,000 was not presented for payment till the date.

d) A customers deposited a cheque of Rs. 44,000 directly in the bank but has not been recorded in the cash book.

e) Bank debited Rs. 500 as bank charge in the pass book.

f) Cheque of Rs. 12,000 received and entered into the cash book but failed to deposit in the bank.

Required:

Bank Reconciliation Statement [5]

15.

A. Rectify following errors before preparing of trial balance. [3]

a) Cash sales to Sharma Rs. 45,000 debited to his account

b) Sales of machinery @ Rs. 19,000 were wrongly credited in sales account.

c) Purchase goods from Pema Rs. 20,000 recorded in sales book.

B. Following information are extracted from the trial balance

Particulars Debit (Rs.) Credit (Rs.)
Sundry debtors 52,000
Provision for bad debt 7,000
Bad debt 1,000

(Additional information)

a) Bad debt Rs. 2,000

b) provision for bad debt @ 5%

Required:

Provision for bad debt account [2]

Or,

An unadjusted trial balance of 'A' trading concern is given below:

Particulars Debit (Rs.) Particulars Credit (Rs.)
Land and building 400,000 Capital 425,000
Debtors 225,000 Creditors 120,000
Bank balance 145,000 Sales 515,000
Salary 80,000 Loan 250,000
Office expenses 40,000
Purchase 380,000
Cash 25,000
Prepaid insurance 15,000
Total 13,10,000 Total 13,10,000

Additional information:

a) Office expenses prepaid Rs 3,000

b) Land appreciated by 10%

c) Salary outstanding Rs. 1500

d) Bad debts written off Rs. 2500

e) Prepaid insurance expire Rs. 10,000

Required:

Adjusted Trial balance (5)

16. On 1st January, 2018 ABC Company purchased a motor van at Rs. 6, 00,000. On 1st July, 2019, company purchased another van worth Rs. 8, 00,000. On 1st July 2020, the first motor van was sold bearing the loss of Rs. 50,000 and on the same date company purchased another van for Rs. 10,00,000. Depreciation was charged @10% p.a. under fixed installment method. The accounts of the company were closed on 31st December each year.

Required:

Motor Van account for the first three years. (1+2+2=5)

17. Trial balance of Nabin Trader on Chaitra 30, 2071 is given below.

Particulars Rs. Particulars Rs.
Selling expenses 5,000 Gross profit b/d 87,000
Interest 5,000 Creditors 8,000
Debtors 25,000 Bank loan 19,000
Bad debt 2,000 Provision for bad debt 2,000
Insurance 1000 Capital 50,000
Salaries 20,000
Investment 40,000
Cash 14,000
Machinery 50,000
Rent 4,000
Total 166,000 Total 166,000

Additional information:

a) Depreciation on machinery 10% p.a

b) Salary payable Rs. 4,000

c) New bad debt Rs. 1,000

Required:

a) Profit & Loss account

b) Balance sheet (3+2)

18. Red Cross provides following information:

Balance Sheet as on 1-1- 2018

Liabilities Amount Assets Amount
Capital fund 4,00,000 Fixed assets 3,00,000
Loan 60,000 Investments 1,00,000
Closing cash balance 60,000
Total 4,60,000 Total 4,60,000

Receipts and payments of Red Cross are given below as on 31st -12-2018

Receipts

Subscriptions Rs. 50,000

Entrance fees Rs. 30,000

interest on investment Rs. 5,000

Sale of old Furniture Rs. 5,000

Payment

Tournament expenses Rs.10,000

wages Rs. 20,000

Printing Rs. 7,500

General expenses Rs. 12,000

Newspaper Rs. 1,800

Other information and outstanding are given below:

a) Printing outstanding Rs. 500 and wages outstanding Rs. 3,000

b) 40% of the entrance fee is to be capitalized

c) Fixed assets depreciate by 10%

d) Subscription due for the year Rs. 22,000

Required:

a. Receipts and payment a/c

b. Income and Expenditure a/c (2+3)

19.

A. Shweta keeps her account under the single entry system. She started a business with Rs. 2,00,000 on 1st Jan, 2017. She withdraws Rs. 2,000 per month for household work. The position of her business at the end of the year was as follows;

Fixed assets Rs. 1,90,000

Inventory Rs. 85,000

Due expenses Rs. 10,000

Creditors Rs. 50,000

Debtors Rs. 40,000

Bank balance Rs. 60,000

Required:

a) Closing statement of affairs

b) Statement of profit and loss (1+1=2)

B. Following transactions of District level office are given:

a) Chaitra 1, House rent @ Rs. 8000 per month for three month paid to house owner Sailesh

b) Chaitra 15, Furniture advance of Rs. 5000 was cleared as per bill of Rs. 6000 and bank voucher of Rs. 1000 submitted by Na. Su. Ramchandra

c) staff renmeration of kartik Rs. 30000 (with out provident fund) was distributed after deducting P.F. Rs. 6000, social security Rs. 300 and income tax Rs. 1500.

Required:

Journal Vouchers (1+1+1=3)

Following information are given:

Budget sub-heads Annual budget Expenses up to Falgun
Employee remuneration 800,000 400,000
Employee remuneration 800,000 400,000
Office materials 120,000 60,000
House rent 140,000 80,000
Furniture and fitting 80,000 35,000
Vehicles 500,000 350,000

Expenditure for the month of Chaitra:

Chaitra 1: Purchase furniture Rs. 10,000

Chaitra 5: Purchase vehicles for Rs.100,000

Chaitra 10: Advance rent paid for Rs 10,000

Chaitra 28 Distributed Rs. 35,000 for employee’s remuneration after deducting income tax Rs. 1,000 and P.F. Rs 8,000.

Required:

Budget Sheet (5)

Section “C”

Short Answer Questions

Attempt All Questions (3 x 8 = 24)

20. Information of Samriyan Enterprises is given below

a. Started a business with Rs. 200,000

b. Purchase goods of Rs. 15,000 from Ram

c. Goods sold on cash Rs 18,000

d. Cash paid to Ram Rs. 10,000

e. Again goods purchase from Ram of Rs. 20,000

f. Paid to Ram Rs. 24,000 in full settlement of his account.

Required:

a. Journal Entries b. Necessary Ledger c. Trial Balance. (3+4+1)

21. The trail balance of Deepak Store as on 31st December, 2020 is given below:

Particulars Rs. Particulars Rs.
Plant and machinery 360,000 Gain on sale of furniture 10,000
Salary expenses 71,000 Creditor 96,000
Cost of goods sold 755,000 Sales 1053,000
Debtors 34,500 Accumulated depreciation on plant and machinery 45,000
Stock at end 110,000 Bank loan 56,000
Drawing 15,000 Capital 350,000
Investment 120,000 Interest on investment 10,000
Good will 48,500
Gas and oil expenses 8,000
Cash 40,000
Repair expenses 34,000
prepaid insurance 24,000
Total 1620,000 Total 1620,000

Additional information:

a. Salaries are 80% of selling and 20% administrative expenditure.

b. Insurance expires of Rs. 18,000

c. Depreciation on plant and machinery is 15%

d. Gas and oil expenses are selling expenses.

Required:

a. Income statement based on NFRS

b. Balance sheet based on NFRS (4+4=8)

Or,

What is government accounting? Explain the features of new government accounting system. (3+5=8)

22.

A. Following transactions are given to prepare a bank cash book. (4)

Marga 1: Balance at Bank Rs. 75,000

Marga 3: Received bank transfer order Rs. 3, 25,000 as a budget release

Marga 9: Issued a cheque of Rs. 20,000 for purchasing furniture.

Marga 22: Cleared advance of Subodh Regmi against the submission of bill of book purchase amount of Rs. 10,000 and cash Rs. 3,000.

Marga 22, Distributed total salary of Rs. 88,000 after deduction of Provident fund Rs. 16,000 and income tax of Rs. 4,000.

B. Following information is given:

Budget Heads Annual Budget Expenditure upto Bhadra Expenditure of Aswin
Salaries 2,75,000 55,000 24,000
Allowances 80,000 10,000 6,000
Office expenses 60,000 15,000 3,000

1,50,000

House rent 75,000 25,000 12,000
Furnitures and fittings
35,000 -----

2,00,000

Machinery
----- 80,000
Total 8,40,000 1,40,000 1,25,000

Additional information:

a) Revolving fund received Rs. 2, 95,000

b) Cash Balance Rs. 2,000

c) Unclear advance Rs. 15,000

d) Loan by nearby office Rs. 3,000

Required:

Statement of expenditure (4)

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