Download Central Board of Secondary Education (CBSE) Class 10th (10th Board Exam) Elements Book Keeping Accountancy 2021 Sample Paper
ELEMENTS OF BOOK-KEEPING AND ACCOUNTANCY (254)
SAMPLE QUESTION PAPER 2020-21
CLASS X
MM ? 70 TIME: 3 HOURS
General Instructions:
1
This question paper contains 30 questions.
2
Marks are indicated against each question.
3
There are two Case Based Questions (CBQ's).
4
Answers should be brief and to the point.
5
Workings to the answers should be given clearly.
Q.No
QUESTIONS
Marks
1
Heavy expenditure undertaken on the advertisement for brand building at the
time of launch of a product by a company is____ (Choose the correct alternative)
a. Revenue Expenditure
b. Capital Expenditure
c. Deferred Revenue Expenditure
d. Statement of financial position
1
2
A new machine was imported by Nishtha Ltd. from South Korea for 7,00,000
and 20% p.a. depreciation is charged as per reducing balance method. The book
value of the machine at the end of the second year would be___________
(Choose the correct alternative)
a. 4,84,000
b. 4,48,000
c. 4,64,000
1
d. 4,72,000
3
__________is not a negotiable instrument. (Choose the correct alternative)
Page | 1
a. Bills of exchange
b. Promissory Note
c. Bearer cheque
d. Crossed cheque
1
OR
Maker of the bill is also known as __________ (Choose the correct alternative)
a. Bill Receivable
b. Drawer
c. Drawee
d. Reserve
1
4
Depreciation is charged on which of the following? (Choose the correct alternative)
a. Land
b. Sales
c. Plant and Machinery
1
d. Capital
OR
__________ is not a cause of depreciation. (Choose the correct alternative)
a. Wear and Tear
b. Obsolescence
c. Fluctuation in prices
1
d. Efflux of time
5
Bank Reconciliation Statement is the comparison of the bank statement with:
(Choose the correct alternative)
a. Trading Account
b. Cash Book
c. Statement of Affairs
1
d. Sales Book
6
Credit balance as Cash book as on 31stMarch, 2020 is 30,750. The bank has
debited 700 as bank charges and has credited 7,775 on account of interest.
Page | 2
Balance as per pass book should be_______ (Choose the correct alternative)
a. 26,475
b. 24,475
c. 23,675
d. 16,500
1
7
Cost of goods sold is equal to___________. (Choose the correct alternative)
a. Sales ? Gross Profit
b. Sales + Gross Profit
c. Sales + Net Profit
1
d. Sales ? Net profit
Read the following text and answer question (8-10) on the basis of the same:
Gopi Chand started with the manufacturing unit of Solar Charkha in February
2018 and was nominated by the ruling government under Make in India awards.
Gopi Chand wants to set up another unit in a nearby village and purchase land for
premises there too. Given below is Trial Balance of Gopi Chand as at 31st March
2020. Trial Balance as at 31st March 2020
Debit Balance
Amount ()
Credit Balance
Amount ()
Opening Stock
50,000
Capital
1,70,000
Purchases
80,000
Sundry Creditors
44,000
Office furniture
35,000
Bank Loan
1,00,000
Depreciation on furniture
7,000
Sales
1,04,000
Advertisement Expenses
10,000
Salary
14,000
Telephone Expenses
4,000
Cash at Bank
18,000
Land and Building
2,00,000
----------
-----------
4,18,000
4,18,000
=======
=======
Additional Information: 1. Closing stock at the end of year 2020 is 75,000.
Page | 3
8
Which of the following is not a financial statement prepared by a sole trader?
1
(Choose the correct alternative)
a) Profit and Loss Account
b) Trading Account
c) Bank Book
d) Balance Sheet
9
Trading profit for Gopi Chand will be (Choose the correct alternative)
1
a) 39,000
b) (24,000)
c) 99,000
d) 49,000
10
Total of Liabilities side for Gopi Chand's business will be____________
1
(Choose the correct alternative)
a) 3,32,000
b) 4,18,000
c) 3,28,000
d) 3,10,000
11
On 12thJuly,2019 a bill of exchange was drawn by Mr X on Mr Y for one month.
1
The date of its maturity of the will be ______. (Choose the correct alternative)
a. 13th August,2019
b. 16th August,2019
c. 15th August,2019
d. 14th August,2019
12
As on 31st March 2020, debit balance as per cash book of Mr. Singh stood at
1
20,000. Cheques worth 2,600 deposited in bank, could not get cleared due to
public holidays and issued cheques could also not be presented by creditors
7500.In the light of the given conditions, which of the following would be the
correct balance as per pass book?
(Choose the correct alternative)
Page | 4
a. 22,600
b. 22,750
c. 22,940
d. 24,900
Read the following text and answer question (13-16) on the basis of the same:
Henry used to run a plumbing business, due to Covid 19 he could not afford to
pay rent for his shop hence he now operates the same from his home. He has
extracted the following information from his books
Particulars
Amount ()
Capital in the beginning of the year (April 1, 2019)
2,00,000
Capital at the end of the year ( March 31, 2020)
2,20,000
Drawings made during the year
50,000
Loose tools
20,000
Sundry Debtors
30,000
13
The capital at the end of accounting year is ascertained by preparing: -
(Choose the correct alternative
a. Total debtors account
b. Profit and loss account
c. Total creditors account
d. Closing statement of Affairs
1
14
From incomplete records it is not possible to prepare:
(Choose the correct alternative)
a. Statement of affairs
b. Trial Balance
c. Statement of profit and loss
d. Bank Reconciliation Statement
1
Page | 5
15
Profit for Henry for the Financial Year 2019-20 will be__________
(Choose the correct alternative)
a. 70,000
b. 50,000
c. 20,000
d. 2,20,000
1
16
Total of Statement of Affairs as on 31st March 2020 for Henry will be
1
(Choose the correct alternative)
a. 2,00,000
b. 2,20,000
c. 50,000
d. 2,70,000
17
Depreciation is a ___________because it does not involve any cash outflow.
1
(Choose the correct alternative)
a. Cash expenditure
b. Non-cash expenditure
c. Capital expenditure
d. Deferred revenue expenditure
18
Freight Inward is shown in ______________. (Choose the correct alternative)
1
a. Profit and Loss Account
b. Profit and Loss Appropriation Account
c. Trading Account
d. Balance Sheet
19
Explain the term Deferred Revenue Expenditure with the help of an example.
3
OR
Give any three examples of Capital expenditure.
20
State any three causes of difference in balance as per Cash book as per Pass book.
3
Page | 6
21
Samarth sold goods for 10,000 to Hemant on 25th March, 2019. On the same
date, Hemant sent his promissory note for the amount payable, after 2 months. On
the due date, the bill was met. Give journal entries in the books of Hemant.
3
OR
State any three advantages of bill of exchange.
3
22
State any two limitations of Incomplete Record System.
3
23
Suraj received from Kartik an acceptance for 60,000 on 1st july,2019 at 3months.
Suraj got this acceptance discounted @12% p.a.at his bank. On the due date,
Kartik paid the required amount. Give the Journal entries in the books of Suraj
4
and Kartik.
24
State any four points of distinction between Capital and Revenue Expenditure.
4
25
Distinguish between Straight line method and Diminishing Balance method.
4
Or
State any four merits of Written down value method.
4
26
Prepare Bank Reconciliation Statement of Misha Ice Cream Parlours as on
4
31stMarch, 2019:
S.No. Particulars
Amount (in )
(a)
Debit balance as per Cash Book
4
0 ,
0
0
0
(b)
Cheques deposited but not cleared 1 0 , 0 0 0
(c)
Cheques issued but not cleared
7
0
0
27
From the following information extracted from the books of M/s Sherya, prepare
a Balance sheet as on 31-03-2020. During the year ended 31-03-2020 M/s Sherya
earned a net profit of 1,00,000. The Position of assets and liabilities on 31-03-
2020 was as follows :
Cash in hand 2,00,000
Investment 1,20,000 Cash at bank 4,00,000
Land and Building 4,80,000
Debtors 1,00,000
4
Capital 16,50,000
Stock 7,00,000
Bankoverdraft 2,50,000;
Page | 7
28
From the following particulars of Vansh Brothers, prepare a bank reconciliation
statement on March 31,2019
Particulars
Amount (in )
(a)
Overdraft as per passbook
25,200
(b)
Insurance premium paid by the bank
2,500
(c)
Interest on overdraft
1,500
(d)
Cheque deposited but not yet cleared
8,100
(e)
Amount wrongly debited by bank
2,000
5
29 Netra enterprises purchased a Machinery on 1st January,2010 for 1,50,000 and
spent 10,000 on its erection . Show the Machinery account for three years, if the
accounts are closed on 31st December every year. The depreciation is to be
charged @10% p.a. on original cost method.
5
30
Following is the position statement of Md Irfan (who maintains his accounts in
incomplete system) as on 31-03-2019 and 31-03-2020.
Particulars
31-03-2019
3
1 - 0 3 -
2
0
2 0
Amount in Amount in
Cash
20,000
18,000
Sundry Debtors
78,000
90,000
Stock
68,000
64,000
Machinery
1,40,000
1,30,000
Sundry Creditors
29,000
29,000
Bills Payable
5,000
10,000
During 2019-20, he introduced 15,000 as new capital and withdrew 4,000 per
5
month for his personal use. Ascertain his profit for the year ending 31-03-2020.
OR
Distinguish between Double entry and Single Entry system of accounting.
5
31
Prepare Trading and Profit and Loss account for M/s Solar Charkha Makers from
5
the following information for the year ending 31-03-2019 when Closing stock is
valued at 20,000.
Page | 8
Trial Balance as on 31.3. 2018
Name of Account
Debit
Credit
Balance ()
Balance ()
Opening Inventory
50,000
--------
Purchase and Sales
8,15,000
12,03,700
Returns
700
5,000
Rent Received
--------
13,400
Debtors and Creditors
1,28,000
3,44,800
Capitals
--------
2,40,000
Salaries and Wages
35,000
--------
Bad Debts
7,800
--------
Patents
35,000
--------
Machinery
4,50,000
------
Bank Loan
------
2,00,000
Cash at Bank
485,400
-----
________________
___________
20,06,900
20,06,900
==============
================
Page | 9
This post was last modified on 07 March 2021