Disclaimer: The given NBSE Class 10 Bookkeeping & Accountancy 2019 question paper has been sourced from NBSE
Total marks : 70 || Time : 3 hours
i) Approximately 15 minutes is allotted to read the question paper and revise the answers.
ii) The question paper consists of 28 questions. All questions are compulsory.
iii) Internal choice has been provided in some questions.
iv) Marks allocated to every question are indicated against it.
N.B: Check that all pages of the question paper are complete as indicated on the top left side.
Choose the correct answer from the given alternatives:
1. Gross loss is ascertained from (1)
(a) balance sheet
(b) trial balance
(c) trading account
(d) profit and loss account
2. Carriage outward is a/an (1)
(c) direct expense
(d) indirect expense
3. Minimum amount for opening a fixed deposit account in a bank is (1)
(a) Rs 100
(b) Rs 500
(c) Rs 1,000
(d) Rs 5,000
4. Agricultural banks provide (1)
(a) only short-term loan
(b) only long-term loan
(c) both short and long-term loan
(d) no loan
5. Debiting a bank account in the cash book means the bank balance will (1)
(c) neither increase nor decrease
(d) either increase or decrease
6. How many parties are there in the bills of exchange? (1)
7. If the due date has been declared as an emergency holiday, the due date will be (1)
(a) same day
(b) one day later
(c) one day before
(d) after three days
8. Debiting wages account for wages paid for the construction of a building is (1)
(a) errors of omission
(b) errors of commission
(c) errors of principle
(d) compensating error
9. According to the diminishing balance method, depreciation is charged on assets at (1)
(a) original cost
(b) written down value
(c) market value
(d) average cost
10. Increase and decrease in the market value of an asset is known as (1)
Answer the questions in about 20-30 words:
11. What is a balance sheet? (2)
12. What is meant by plus balance? (2)
13. Mention any two types of payment made by the bank on our behalf. (2)
14. Write any two ledger accounts which will have a credit balance. (2)
15. What is meant by errors of principle? (2)
16. Define depreciation according to Accounting Standards. (2)
Answer the questions in about 30-50 words:
17. Explain any three points of importance to the trading account. (3)
18. Write any three features of the balance sheet and explain them briefly. (3)
19. Explain the disadvantages of the current account. (3)
20. Mention any three advantages of the bill of exchange and explain them. (3)
21. Explain any three disadvantages of the straight-line method. (3)
22. Write short notes on (1×3= 3)
Answer the questions in about 70-100 words:
23. a. Explain any five points to be considered while preparing the final account. (5)
b. Prepare trading, profit and loss account and balance sheet as on 31st March 2017 from the following balances of M/s Kevi Bros.
|Purchases and sales||15,000||21,000|
|Carriage and cartage||500||–|
|Cash at bank||6,600||–|
|Bills receivable and bills payable||4,120||2,600|
The closing stock was valued at Rs 12,000.
24. a. Explain any five types of accounts that can be opened in the bank. (5)
b. What is e-banking? Explain the benefits of e-banking to service provider banks. (2+3 = 5)
25. a. Explain the importance of a bank reconciliation statement. (5)
b. From the following information, prepare a bank reconciliation statement as on
31st December 2017. The cash book showed a balance of Rs 25,000 on December 31st, 2017. On comparing the same with the balance of the passbook, it was revealed that:
i) A cheque of Rs 2,500 issued in the month of December 2017 has not been presented for payment to the bank
ii) The customer deposited cheques worth Rs 5,000 but they have not been collected by the bank
iii) The bank has allowed Rs 250 as interest
iv) The bank had charged Rs 70 as a commission for his services.
26. a. Explain any five elements of a bill of exchange. (5)
b. Alo received from Akho an acceptance for Rs 3,000 on September 1, 2017, for three months. Alo received the due acceptance and was discounted at 9% per annum at his bank. On the due date, Akho paid the required amount. Pass journal entries in the books of Alo and Akho.
27. a. Explain the effects of errors and their rectification on the profit and loss accounts and balance sheet. (5)
b. There was an error in records on 31st March 2017 and the difference in books was carried to a suspense account. On going through the books, you find that:
i) Rs 5,400 received from Mr A was posted to the debit of his account
ii) Rs 1,000 being purchases return were posted to the debit of purchases account
iii) Discount received Rs 2,000 was posted to the debit of purchases account
iv) Rs 2,740 paid for repairs to the motor car was debited to the motor car account as Rs 1,740
v) Rs 4,000 paid to B was debited to A’s account.
Write journal entries to rectify the above errors.
28. a. Explain any five limitations of the written down value method. (5)
b. Atok traders purchased second-hand machinery on 1st January 2013 for Rs 23,000 and spent Rs 2,000 on its repairs. It was decided to depreciate the machinery @ 20% every year according to the diminishing balance method. Prepare the machinery account for the first 4 years assuming the books are closed on 31 December every year.