1.
[1]
What is book-keeping?
Accounting
NEB — CLASS 11
Accounting
Model Question
Answer each question in your own words as far as practicable. The figures in the margin indicate full marks.
सबै प्रश्नको उत्तर दिनुहोस् । (Attempt All Questions)
Time : 3 hrsPass Marks : 27Full Marks : 75
2.
[1]
Mention any two objectives of accounting.
3.
[1]
Write the meaning of money measurement concept.
4.
[1]
Define trial balance.
5.
[1]
What is cross cheque?
6.
[1]
Write about error of principle.
7.
[1]
What is reserve?
8.
[1]
Write any one difference between capital expenditure and revenue expenditure.
9.
[1]
What is dhapot?
10.
[1]
Define bank cash book.
11.
[1]
State the use of budget sheet.
12.
[5]
A.
State accounting process in brief.
B.
Prepare accounting equation from following details.
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.
[5]
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
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
14.
[5]
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
15.
[5]
A.
Rectify following errors before preparing of trial balance.
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
16.
[5]
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
17.
[5]
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)
18.
[5]
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 | 1,000 | 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
19.
[5]
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
20.
[5]
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
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
21.
[5]
Following information are given:
| Budget sub-heads | Annual budget | Expenses up to Falgun |
|---|---|---|
| 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
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
22.
[8]
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. Trail Balance
23.
[8]
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 | 15% Bank loan | 56,000 |
| Drawing | 15,000 | Capital | 350,000 |
| 10% 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)
24.
[3]
What is government accounting? Explain the features of new government accounting system.
25.
[8]
A.
Following transactions are given to prepare a bank cash book.
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 30: 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 |
| House rent | 1,50,000 | 25,000 | 12,000 |
| Furniture and fittings | 75,000 | 35,000 | ------ |
| Machinery | 2,00,000 | ------ | 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