Class 11 Accountancy-Most important Questions
In this article we will provide you ten important Accountancy questions, which will help you in your class 11 Accountancy exams and other entrance exams. Class 11 Important Accountancy Questions
Class 11 Important Accountancy Questions is very important resource for students preparing for Class XI board Examination. Question from very important topics are covered here for NCERT Class 11. You will also get idea about the type of questions, you can expect in your Class 11th examination.
Here you can get Class 11 Important Accountancy Questions based on NCERT Text book for Class XII. Here we have covered Important Questions on all topics for Class 11 Accountancy subject.
Class 11 Important Accountancy Questions
1. Journalise the following transactions
(i) Harish started business with cash Rs 1,00,000 and a building valued at Rs 5,00,000.
(ii) An old machine with the book value of Rs 80,000 is exchanged for a new machine of Rs 2,40,000. The old machine is valued at Rs 50,000 for exchange purposes by Machine Tools Ltd.
(iii) A cheque from a customer amounted to Rs 5,000 deposited in the bank was returned dishonored.
(iv) Paid landlord Rs 1,500 for rent. One third of the premises is occupied by the proprietor for his own residence.
(iv) Goods costing Rs 500 given as charity (Sales price Rs 600).
2. You are given the following balances as on 1st April, 2012 Machinery A/c Rs 50,00,000 Provision for depreciation A/c Rs 11,60,000 Depreciation is charged on machinery at 20% p.a. by the diminishing balance method. A piece of machinery purchased on 1st April, 2010 for Rs 10,00,000 was sold on 1st October, 2012 for 6,00,000. Prepare the machinery account and provision for depreciation account for the year ended 31st March, 2013. Also prepare machinery disposal account
3. An idea about the cash position of non-profit organization can be known through which account?
4. Rajesh went to an internet cafe and used one PC for some work but instantly she saw that the previous person’s email-id who worked on the same computer was opened. She didn’t saw it and logged it out. Which value is being observed by Mona by doing so?
5. Software is the instruction that makes a computer work. In context to this discuss any three types of software
6. Sharma started a firm on 1st April, 2012 with a capital of Rs 30,000. On 1st July, 2013 he borrowed from his wife a sum of Rs 12,000 @ 9% per annum (interest not yet paid) for business and introduces a further capital of his own amounted to Rs 4,500. On 31st March, 2013 his position was Cash Rs 1,800; stock Rs 28,200; debtors Rs 21,000 and creditors Rs 18,000. Ascertain his profit or loss taking into account Rs 6,000 for his drawings during the year.
7. Briefly explain any six factors which should be taken into account before sourcing an accounting software
8. Which accounts are not considered while preparing the trial balance.
9. Name the process of transferring entries from a journal to their respective accounts in the ledger.
10. Why are rules of debit and credit same for liability and capital?
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