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Model Paper 3 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountModel Paper 36 Marks
Question
Rectify the following errors:
i. Goods for ₹ 5,500 were purchased from Royal Traders on credit, but no entry has yet been passed.
ii. Purchase Return for ₹ 1,500 not recorded in the books.
iii. Goods for ₹ 2,000 sold to Sita Traders on Credit were entered in the sales book as ₹ 200 only.
iv. Goods of the value of ₹ 1,800 returned by Suraj & Co. were included in stock, but no entry was passed in the books.
v. Goods purchased for ₹ 900 , entered in the purchases book as ₹ 9,000
vi. An invoice for goods sold to X was overcast by ₹ 100
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Discuss the concept-based on the premise ‘do not anticipate profits but provide for all losses’.
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X bought a machine for ₹ 25,000 on which he spent ₹ 5,000 for carriage and freight. ₹ 1,000 for brokerage of the middleman, ₹ 3,500 for installation and ₹ 500 for an iron pad. The machine is depreciated @ 10% p.a. on Written Down Value basis. After three years, the machine was sold to Y for ₹ 30,500 and ₹ 500 was paid as commission to the broker through whom the sale was effected. Find out the profit and loss on sale of machine.
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Put the following on the proper side of a Cash Account, a Debtor's Account and a Creditor's Account:
S.No
 
₹
i
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50,000
ii
Sold goods to Mohan for cash
20,000
iii
Purchased goods from Ram on credit
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Journalise the following transactions in the books of Ashok:
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Journalise the following transactions in the books of Kanishk Traders:
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Sold goods costing ₹ 1,20,000 to Charu at a profit of $33\frac{1}{3}\%$ on cost less 15% Trade Discount.
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Sold goods costing ₹ 80,000 to Arun against cheque at a profit of 25% on cost less 15% Trade Discount.
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Show the effect of the following transactions and also prepare a Balance Sheet:
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[Hint: Capital = Opening Capital ₹ 60,000 + Rent Received ₹ 2,000 + Accrued Interest ₹ 500 - Drawings ₹ 5,000 = ₹ 57,500.]
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Transactions of M/s Vipin Traders are given below.
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a.
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b.
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