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Exam paper of Principles of Accounting-I of Class/Grade 11/xi having subject code 124b of the year 2076-2019.
Principles of Accounting-I 124b NEB Class 11 Question Paper of the year 2076-2019. NEB Class/Grade 11/xi Principles of Accounting exam 2076-2019 was held on May 2019 [Jestha 2076]. Check and download in pdf – National Examinations Board (NEB) exam paper of subject Principles of Accounting 124b of the year 2076-2019.
National Examinations Board [NEB]
Principles Of Accounting I – Class/Grade 11/XI
Examination – 2076 (2019)
Regular Students | Subject Code: 124 ‘B’
Time – 3 hrs
Full Marks – 100
Pass Marks – 35 (For Partial Student Only)
Also Check:
View and check Principles of Accounting-I 124b NEB Class 11 Question Paper of the year 2076-2019.
Candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.
1. Mention any three features of Double Entry Book-keeping System. [3]
2. Write in brief about business entity concept with suitable examples. [3]
3. Clarify the meaning of Trial Balance. [2]
4. Write the meaning of Reserve and Provision. [2]
5. Give the meaning of Journal Proper. [2]
6. Mention any three objectives of Government Accounting System. [3]
7. State any three objectives between governmental and commercial accounting. [3]
8. Following transactions are given:
– Started business with cash Rs. 1,00,000 and furniture Rs. 50,000.
– Purchased goods worth of Rs. 75,000
– Wages paid: Rs. 10,000
– Sold goods costing Rs. 20,000 for Rs. 25,000.
Required: [2]
Accounting Equation
9. Following transactions are given:
– Goods sold for cash Rs. 50,000 and allowed discount Rs. 500.
– Goods purchased from Mr. Khadka for Rs. 25,000.
– Cash paid to Mr. Khadka Rs. 23,000 in full settlement of his account.
– Salary paid: Rs. 10,000.
Required: [2+2=4]
i) Journal Entries
ii) Khadka’s Account.
10. Following sales transactions are given:
– 1 Jan
Sales to Pande:
-100 meters cloth @ Rs. 300 per meter
– 5 Jan
Sales to Rimal:
-200 meters silk cloth @Rs. 500 per meter (Trade Discount 10%)
– 10 Jan
Sales to Ghimire:
300 meters cloth @ Rs. 100 per meter
Required: [2]
Sales Book.
11. Following Cash and Bank related transactions are given:
– Chaitra-1:
Cash in hand Rs. 50,000, cash at Bank Rs. 60,000.
– Chaitra-5:
Sold goods for cash Rs. 30,000.
– Chaitra-8:
Cash deposited into Bank Rs. 15,000.
– Chaitra-10:
Purchased goods worth Rs. 15,000 and paid Rs. 10,000 in cash and balance through cheque.
– Chaitra-15:
Withdrawn Rs. 15,000 cash from Bank for office use.
– Chaitra 20:
Advertisement expenses 10,000 paid by cheque.
Required: [6]
Cash Book with Cash and Bank Column.
12. On reconciliation of Pass Book and Cash Book the following facts are located:
i) Balance as per Cash Book Rs. 80,000.
ii) Cheque issued but not presented for payment Rs. 8,000.
iii) Cheque of Rs. 10,000 were sent to Bank for collection but cheque of Rs.6,000 only were credited in Pass Book.
iv) Interest collected by Bank of Rs. 1,000 was not recorded in Cash Book.
v) Bank charged commission of Rs. 100 debited in Pass Book only.
vi) A cheque of Rs. 10,000 has been deposited by a debtor but not recorded in Cash Book.
Required: [6]
Bank reconciliation statement.
13. Following errors were located before preparation of Trial Balance:
– Wages paid of Rs. 2,000 for installation of machinery was debited to wages account.
– Goods sold to Raj for Rs. 5,000 was wrongly been debited to Saj’s account.
– Salary paid to Ram Rs. 10,000 was debited to Ram’s account.
Required: [4]
Entries for rectification.
14. An adjustment Trial Balance of a company is given below:
Adjustments:
– Outstanding wages: Rs. 5,000
– Baddebts: Rs. 2,000
Required: [3]
Adjusted Trial Balance.
15. Following is the Trial Balance of a traders as on 31 Chaitra:
Additional information:
a) Closing stock: Rs. 160,000
b) Pre-paid insurance: Rs. 1,000
c) Rent due for 2 months
d) Goods worth Rs. 10,000 lost by theft and insurance company admitted the claim Rs. 6,000 only.
e) Baddebts Rs. 2,000 and provision for doubtful debts created @10%.
Required: [4+6+5=15]
i) Trading Account
ii) Profit and Loss Account
iii) Balance Sheet.
16. Following transactions relating to machinery are given:
– 2072, Baishakh-1:
Machinery purchased – Rs. 2,00,000.
-2073, Poush-1:
Machinery purchased – Rs. 3,00,000.
– 2074, Chaitra-31:
First machinery sold – Rs. 1,55,000.
The company charged depreciation @15% on a fixed installment method and accounts are closed on 31st Chaitra.
Required: [3+3+2=8]
Machinery Account from 2072 to 2074.
17. Opening Balance Sheet and Receipt and Payment Account of a Club are given below.
[Balance Sheet as on 30th Chaitra 2073]
Additional information:
– Due Rent: Rs. 6,000
– Advance subscription received for 2075: Rs. 20,000.
Required: [5+5=10]
i) Income and Expenditure Account.
ii) Balance Sheet as on 30th Chaitra 2074.
18. A trader commenced business with Rs. 180,000. He used to withdraw Rs. 2,000 per month for his personal use. His position at the end of the year is an under:
– Furniture: Rs. 1,00,000
– Debtors: Rs. 40,000
– Creditors: Rs. 30,000
– Bank Loan: Rs. 40,000
– Stock: Rs. 1,40,000
– Cash: Rs. 40,000
– Interest on Bank Loan due @10%.
Required: [2+2=4]
i) Statement of Affairs Showing Closing Capital
ii) Statement of Profit and Loss
19. Following informations are provided:
– Provision for Baddebts: Rs. 10,000
– Baddebts: Rs. 5,000
– Debtors: Rs. 60,000
– Create provision for doubtful debts: @10%.
Required: [2]
Provision for doubtful debts account.
20. Following transactions of a government office are given:
2074-6-2: A cheque of Rs. 30,000 issued to purchase furniture.
2074-6-8: Advance given to Janak Rs. 40,000 to purchase computer.
2074-6-12: Advance of Janak cleared as per bill of Rs. 45,000 submitted by him.
2074-6-28: Issued a cheque of Rs. 43,000 to distribute salary for the month of Asoj after deducting P.F. Rs. 10,000, income Tax Rs. 2,000.
Required: [1+1+1+2=5]
Journal Vouchers.
21. Following transactions are given:
2074-2-1
Balance at Bank: Rs. 80,000.
2074-2-5
Received Bank Order and budget release order of Rs. 4,00,000.
2074-2-12
Issued a cheque of Rs. 60,000 to purchase machinery.
2074-2-23
Out of advance of Rs. 10,000 of Mr. Kafle cleared as per bill of Rs. 8,000 and refund of Rs. 2,000.
2074-2-30
Salary for the month of Jestha Rs. 1,00,000 distributed after deducting provident fund as per rule.
Required: [5]
Bank Cash Book.
22. Following informations are given:
Additional information:
– Total revolving fund release: Rs. 5,50,000
– Petty cash fund balance: Rs. 1,000
Required: [6]
Statement of expenditure for the month of Jestha showing Bank Balance.
View 2076/2019 Question Paper of Principles of Accounting I Class 11, Grade 11-XI| Sub. Code: 124B | National Examination Board (NEB).
