XI Standard - 11th - Accountancy - Second Midterm Test Question Paper - Samacheer Kalvi

 

SECOND MID TERM TEST

Class:XI                                                                                  Total:50

Sub:Accountancy                                                                   Time:2:00 Hrs

PART-A

Choose the correct answer from the given options below                          10x1=10

1. Errors not affecting the agreement of trial balance are

(a) Errors of principle               (b) Errors of overcasting

(c) Errors of undercasting         (d) Errors of partial omission

2. The difference in trial balance is taken to

(a) The capital account    (b) The trading account

(c) The suspense account          (d) The profit and loss account

3. A transaction not recorded at all is known as an error of

(a) Principle                             (b) Complete omission

(c) Partial omission                   (d) Duplication

4.Under the written down value method of depreciation, the amount of depreciation is

(a) Uniform in all the years       (b) Decreasing every year

(c) Increasing every year           (d) None of the above

5. Depreciation is caused by

(a) Lapse of time             (b) Usage    (c) Obsolescence             (d) a, b and c

6. For which of the following assets, the depletion method is adopted for writing off cost

of the asset?

(a) Plant and machinery           (b) Mines and quarries   

(c) Buildings                            (d) Trademark

7. A depreciable asset may suffer obsolescence due to____

(a) Passage of time                                       (b) Wear and tear 

(c) Technological changes                            (d) None of the above.

8.Amount received from IDBI as a medium term loan for augmenting working capital

(a) Capital expenditures                      (b) Revenue expenditures

(c) Revenue receipts                                    (d) Capital receipt

9. Revenue expenditure is intended to benefit

(a) Past period                (b) Future period   (c) Current period (d) Any period

10. Pre-operative expenses are

(a) Revenue expenditure                               (b) Prepaid revenue expenditure

(c) Deferred revenue expenditure                 (d) Capital expenditure

 

PART-B

Answer any Five questions. Question No. 17 is compulsory                      5x2=10

11. What is meant by rectification of errors?

12. What is meant by error of principle?

13. What is meant by depreciation?

14. List out the various methods of depreciation.

15. What is annuity method?

16. What is capital expenditure?

17. What is meant by revenue expenditure?

PART-C

Answer any Five Questions. Q.NO 24 is compulsory.                               5x3=15

18. Write a note on suspense account.

 

19. Write a note on one-sided errors and two sided errors.

20. What are the causes for depreciation?

21. Distinguish between straight line method and written down value method of providing

  depreciation.

22. Distinguish between capital expenditure and revenue expenditure.

23. What is deferred revenue expenditure? Give two examples.

24. Write down the formula to compute annuity factor.

 

PART-D

Answer all the questions:                                                                           3x5=15

25.a) Rectify the following errors before preparing trial balance:

(a) The total of purchases book was carried forward ₹90 less.

(b) The total of purchases book was carried forward ₹180 more.

(c) The total of sales book was carried forward ₹270 less.

(d) The total of sales returns book was carried forward ₹360 more.

(e) The total of purchase returns book was carried forward ₹450 less.

(OR)

    b)Rectify the following errors assuming that the trial balance is yet to be prepared:

(a) Sales book was undercast by ₹400

(b) Sales returns book was overcast by ₹500

(c) Purchases book was undercast by ₹600

(d) Purchases returns book was overcast by ₹700

(e) Bills receivable book was undercast by ₹800

26.a) From the following information, calculate the amount of depreciation and rate of

     depreciation under straight line method.

Purchase price of machine ₹80,000

Expenses to be capitalised ₹20,000

Estimated residual value ₹35,000

Expected useful life 5 years

(OR)

     b) A boiler was purchased on 1st January 2015 from abroad for ₹10,000. Shipping and

forwarding charges amounted to ₹2,000. Import duty ₹7,000 and expenses of installation amounted to ₹1,000. Calculate depreciation for the first 3 years

@10% p.a. on diminishing balance method assuming that the accounts are closed 31st December each year.

27. a)State whether the following are capital or revenue items.

(i) ₹5,000 spent towards additions to buildings.

(ii) Second-hand motor car purchased for ₹30,000 and paid ₹2,000 as repairs         

      immediately.

(iii) ₹10,000 was spent on painting the new factory.

(iv) Freight and cartage on the new machine ₹150, erection charges ₹200.

(v) ₹150 spent on repairs before using a second hand car purchased recently.

(OR)

      b)Classify the following receipts into capital and revenue.

(i) Sale proceeds of goods ₹75,000.

(ii) Loan borrowed from bank ₹2,50,000

(iii) Sale of investment ₹1,20,000.

(iv) Commission received ₹30,000.

(v) ₹1,400 wages paid in connection with the erection of new machinery.