Accounting NEB Grade 11 Model Question Solution 2079-2023

Accounting | NEB Grade 11 Model Question Solution 2079-2023

Dear grade 11 students out there! Namaste. Today, we present you the Accounting NEB Grade 11 Model Question Solution 2079-2023 with subject code: 1031 and you can check and view the neb grade xi (11) Accounting subject model question paper solution of the year 2079-2023 in PDF format. Please check and download pdf file grade 11 Accounting Model question paper of the year 2023-2079 Nepal. The model question provided below – Accounting NEB Grade 11 Model Question Solution 2079-2023 for the board exam 2079 and onwards. And it is based on the latest NEB Syllabus for 2079. We will be adding more model question papers solutions of grade xi-11 later on. Also Download Accounting Model Question Paper of the year 2079-2023 of grade 11-xi in pdf format which is 267 kb in size. Enjoy!

Accounting NEB Grade 11 Model Question Solution 2079-2023.

Grade XI/Class 11
Model Question (New Course) | Solution
Regular Students | Subject Code: 1031
Time – 3 hrs
Full Marks – 75

Candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.

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Accounting NEB Grade 11 Model Question Solution 2079-2023

Section ‘A’

Very Short Answer Questions.

Attempt All Questions. (11×1 = 11)

1. What is book-keeping?

Answer: The act of keeping written record of financial transactions of a business in a set of books is called bookkeeping.

2. Mention any two objective of accounting.

Answer: The two objectives of accounting are:

a) To maintain record
b) To ascertain profit or loss.

Also Check:

Download pdf of NEB Class 12 Model Question Papers 2079-2023, All Subjects.

3. Write the meaning of money measurement concept.

Answer: Accounting records only those facts and transactions that can be expressed in terms of money. This concept of business us known as money measurement concept.

4. Define trial balance.

Answer: Trial balance is the list of debit and credit balances taken out from ledger.

5. What is cross cheque?

Answer: A crossed cheque is a special type of cheque which is written by following some special instruction of crossing.

6. Write about error of principle.

Answer: The error that takes place due to ignorance of accounting principles is called error of principle.

7. What is reserve?

Answer: A part of profit set aside to meet future contingencies and losses is called reserve.

8. Write any one difference between capital expenditure and revenue expenditure.


Capital expenditureRevenue expenditure
Capital expenditure is shown on asset side of balance sheet.Revenue expenditure is shown on debit side of P/L Account and trading account.

9. What is dhapot?

Answer: Dhapot is the final statement of transactions of an office.

10. Define bank cash book.

Answer: Bank cash book is a multi-columnar cash book which records all cash transactions performed through the bank.

11. State the use of budget sheet.

Answer: The uses of budget sheet are:

a) It is used for controlling budget expenditure.
b) It provides information about annual appropriations, budget release and budget expenditure under different budget heads.

Section “B”

Short Answer Questions

Attempt All Questions) (8 x 5 = 40)

12. A. State accounting process in brief. [3]


The accounting process has the five following sequential steps:
a) Identifying the financial transaction: In the first step of accounting process, financial transactions are identified.
b) Recording financial transactions: In the second step, all the financial transactions performed by the business are systematically recorded in the journal and subsidiary books.
c) Classifying financial transactions: In the third step, financial transactions are classified mainly into the transactions related with persons that include enterprises, persons, assets and income expenses.
d) Summarizing financial transactions: All the financial transactions are summarized in this step. They are summarized by preparing a trial balance.
e) Communicating the result of business: In the last step, the results of business operations such as profit and loses and the company’s financial position are communicated to different users.

B. Prepare accounting equation from following details. [2]

a) Started business with cash Rs. 2, 00,000 and furniture Rs. 5, 00,000.

b) Purchase goods worth Rs. 80,000 on cash and 70,000 on credit.

c) Paid rent Rs. 90,000.

d) Sold goods costing Rs 20,000 on cash Rs. 25,000.


Accounting equation

a) Started business with
cash and furtinure
b) Purchase goods on cash
and credit.
New equation
c) Paid house rent.
New equation
– 90000=– 90000+0
d) sold goods and profit
Ending equation


A. Cash and banking transactions are given below:

Poush 1: Opening balance of cash and bank are Rs. 60,000 and 2, 00,000 respectively.

Poush 13: Cash deposited in bank of Rs. 30,000.

Poush 22: Paid of Rs. 32,000 to Ram through cheque for settling account of Rs. 35,000.

Poush 27: Received a cheque from Aviral of Rs. 19,000 and cash Rs. 3,000 for selling machine.


Triple column cash book (3)


Triple column cash book

9/1To balance b/d60000200000
9/13To cash A/CC300009/13By bank A/CC
9/27To machine A/C3000190009/22By Ram A/c320003000
9/30By balance c/d33000217000
10/1To balance b/d33000217000

B. Transactions related to furniture purchases are given below:

Dec 5: Purchase from Karuna suppliers

10 coffee tables for Rs. 1,00,000.
20 small chairs @ Rs. 4,000 each.
Trade discount @ 10%

Dec 19: Purchased from Anjali traders:

5 beds @ 15,000 each.
8 pieces of sofa @ Rs. 25,000 per sofa.


Purchase book (2)


DateParticularInvoice no.DetailsAmt.
Dec 5Karuna suppliers100000
10 coffee table @ 10000 each
20 small chais @ 4000 each
Tess: Trade discount 10%
Dec 19Anjali traders
5 beds @ 15000 each
8 pc sofa @ 25000 each

14. Following information are given:

a) Cash book showed a balance of Rs. 80,000.

b) Bank credited Rs. 20,000 only out of various cheques of Rs. 75,000 deposited in the bank.

c) Cheques issued of Rs. 90,000 but a cheque of Rs. 10,000 was not presented for payment till the date.

d) A customers deposited a cheque of Rs. 44,000 directly in the bank but has not been recorded in the cash book.

e) Bank debited Rs. 500 as bank charge in the pass book.

f) Cheque of Rs. 12,000 received and entered into the cash book but failed to deposit in the bank.


Bank Reconciliation Statement [5]

Answer: Bank Reconcilation statement

Balance as per cash book
Less: cheque not recorded by bank
Add: Cheque issued nut not presented for payment
Add: Directly deposited by customers
Less: Bank charge recorded in pass book only
Less: cheque received but failed to deposit in bank
Balance as per pass book


A. Rectify following errors before preparing of trial balance. [3]

a) Cash sales to Sharma Rs. 45,000 debited to his account

b) Sales of machinery @ Rs. 19,000 were wrongly credited in sales account.

c) Purchase goods from Pema Rs. 20,000 recorded in sales book.


Rectification entries

a)Cash A/C Dr45000
To Shrma A/C45000
(Being rectified error)
b)Sales A/C Dr19000
To machinery A/C19000
(being rectified error)
c)Purchase A/C Dr20000
Sales A/C Dr.20000
To Rama A/C40000
(being rectified error)

Working note:

a) Correct entry wrong entry
Cash A/C Dr sharma /C D
To sales A/C to sales A/C
Rectified entry
Cash A/C Dr
To sharma A/C

b) Correct entry wrong entry
Cash A/C Dr. cash A/C Dr
To machinery A/C to sales A/C
Rectified entry
Sales A/C Dr
To machinery A/C

c) Correct entry wrong entry
Purchase A/C Dr Pema’s A/C Dr
To Pema’s A/C to sales A/C
Rectified entry
Purchase A/C Dr
Sales A/C Dr
To Pema’s A/C

B. Following information are extracted from the trial balance

ParticularsDebit (Rs.)Credit (Rs.)
Sundry debtors52,000
Provision for bad debt7,000
Bad debt1,000

(Additional information)

a) Bad debt Rs. 2,000

b) provision for bad debt @ 5%


Provision for bad debt account [2]

Answer: Provision for bad Debt

To bad debt3000By balance c/d7000
To estimated b/d1500
(balancing figure)
To balance c/d2500


An unadjusted trial balance of ‘A’ trading concern is given below:

ParticularsDebit (Rs.)ParticularsCredit (Rs.)
Land and building400,000Capital425,000
Bank balance145,000Sales515,000
Office expenses40,000
Prepaid insurance15,000

Additional information:

a) Office expenses prepaid Rs 3,000

b) Land appreciated by 10%

c) Salary outstanding Rs. 1500

d) Bad debts written off Rs. 2500

e) Prepaid insurance expire Rs. 10,000


Adjusted Trial balance (5)

Answer: Adjusted trial balance

S.N.ParticularUnadjusted T.B.AdjustmentAdjusted T.B
1.Land and building40000040000440000
3.Bank balance15000145000
5.Office expense40000300037000
8.Prepaid insurance15000100005000
Add. Information
13.Prepaid office30003000
15.Land appreciated15001500
16.O/S salary25002500
17.B/d written off
Prepaid insurance ex.

16. On 1st January, 2018 ABC Company purchased a motor van at Rs. 6, 00,000. On 1st July, 2019, company purchased another van worth Rs. 8, 00,000. On 1st July 2020, the first motor van was sold bearing the loss of Rs. 50,000 and on the same date company purchased another van for Rs. 10,00,000. Depreciation was charged @10% p.a. under fixed installment method. The accounts of the company were closed on 31st December each year.


Motor Van account for the first three years. (1+2+2=5)

Answer: Motor Van Account

2018/01/01To bank A/C (1st)6000002018/12/31By depre-1st60000
By balance c/d540000
2019/01/01To balance b/d5400002019/12/31By dep – 1st60000
To bank – (2nd)8000002019/12/31By dep- 2nd40000
By balance c/d1240000
2020/01/01To balance b/d12400002020/07/01By dep-1st30000
2020/07/01To bank- 3rd10,00,0002020/07/01By loss on sale – 1st50000
2020/07/01By bank- 1st400000
2020/12/30By dep – 2nd80000
2020/12/30By dep- 3rd50000
By balance c/d1630000
2021/01/01To balance b/d1630000

Annual dep. Of 1st machine = 10% of 600000 = 60000
Annual dep. Of 2nd machine= 10% of 800000= 80000
Annual dep. Of 3rd machine = 10% of 1000000= 100000
Book value of 1st machine = 600000-60000-60000-30000= 450000
Sale value = 450000 – 50000 = 400000

17. Trial balance of Nabin Trader on Chaitra 30, 2071 is given below.

Selling expenses5,000Gross profit b/d87,000
Debtors25,000Bank loan19,000
Bad debt2,000Provision for bad debt2,000

Additional information:

a) Depreciation on machinery 10% p.a.

b) Salary payable Rs. 4,000

c) New bad debt Rs. 1,000


a) Profit & Loss account

Answer: Profit and Loss Account of Nabin Trader as on 30th chaitra 2071

To selling expenses5000By gross profit b/d87000
To intrest5000By provision for b/d2000
To bad debt 2000
Add: new b/d 10003000
To insurance1000
To salary 20000
Add: salary payable 400024000
To dep. On machinery5000
To rent4000
To net pofit c/d42000

b) Balance sheet (3+2)

Answer: Balance Sheet of Nabin trader as on Chaitra 2071

Capital/ liabilitiesAmtAssetsAmt
Capital 50000Investment40000
Add: net profit 4200092000Machinery 50000
Bank loans190000Less:dep. 5000045000
Creditors8000Debtors 25000
Salary payable4000Less: new b/d 100024000

18. Red Cross provides following information:

Balance Sheet as on 1-1- 2018

Capital fund4,00,000Fixed assets3,00,000
Closing cash balance60,000

Receipts and payments of Red Cross are given below as on 31st -12-2018


Subscriptions Rs. 50,000

Entrance fees Rs. 30,000

interest on investment Rs. 5,000

Sale of old Furniture Rs. 5,000


Tournament expenses Rs.10,000

wages Rs. 20,000

Printing Rs. 7,500

General expenses Rs. 12,000

Newspaper Rs. 1,800

Other information and outstanding are given below:

a) Printing outstanding Rs. 500 and wages outstanding Rs. 3,000

b) 40% of the entrance fee is to be capitalized

c) Fixed assets depreciate by 10%

d) Subscription due for the year Rs. 22,000


a. Receipts and payment a/c


Receipt and payment A/C

For the year ending 31st – 12-2018

To opening balance60000By tournament ex.10000
To subscriptions50000By wages20000
To entrance fee30000By printing7500
To interest on investment5000By general ex.12000
To sale of old furniture5000By news paper98700
By closing balance98700

b. Income and Expenditure a/c (2+3)


Income and expenditure A/C for the year ending 31st – 12-2018

To tournament expense10000By subscriotions
To wages 2000050000
Add: O/S wages 30020300Add: sub. Due
To printing 75002200072000
Add: O/S printing 5008000By entrance
To general expenses12000Fee (60%)18000
To newspaper1800By interest on investment5000
To dep. On fixed asset30000
To surplus12900


A. Shweta keeps her account under the single entry system. She started a business with Rs. 2,00,000 on 1st Jan, 2017. She withdraws Rs. 2,000 per month for household work. The position of her business at the end of the year was as follows;

Fixed assets Rs. 1,90,000

Inventory Rs. 85,000

Due expenses Rs. 10,000

Creditors Rs. 50,000

Debtors Rs. 40,000

Bank balance Rs. 60,000


a) Closing statement of affairs

b) Statement of profit and loss (1+1=2)

B. Following transactions of District level office are given:

a) Chaitra 1, House rent @ Rs. 8000 per month for three month paid to house owner Sailesh

b) Chaitra 15, Furniture advance of Rs. 5000 was cleared as per bill of Rs. 6000 and bank voucher of Rs. 1000 submitted by Na. Su. Ramchandra

c) staff renmeration of kartik Rs. 30000 (with out provident fund) was distributed after deducting P.F. Rs. 6000, social security Rs. 300 and income tax Rs. 1500.


Journal Vouchers (1+1+1=3)

Following information are given:

Budget sub-headsAnnual budgetExpenses up to Falgun
Employee remuneration800,000400,000
Employee remuneration800,000400,000
Office materials120,00060,000
House rent140,00080,000
Furniture and fitting80,00035,000

Expenditure for the month of Chaitra:

Chaitra 1: Purchase furniture Rs. 10,000

Chaitra 5: Purchase vehicles for Rs.100,000

Chaitra 10: Advance rent paid for Rs 10,000

Chaitra 28 Distributed Rs. 35,000 for employee’s remuneration after deducting income tax Rs. 1,000 and P.F. Rs 8,000.


Budget Sheet (5)

Section “C”

Short Answer Questions

Attempt All Questions (3 x 8 = 24)

20. Information of Samriyan Enterprises is given below

a. Started a business with Rs. 200,000

b. Purchase goods of Rs. 15,000 from Ram

c. Goods sold on cash Rs 18,000

d. Cash paid to Ram Rs. 10,000

e. Again goods purchase from Ram of Rs. 20,000

f. Paid to Ram Rs. 24,000 in full settlement of his account.


a. Journal Entries b. Necessary Ledger c. Trial Balance. (3+4+1)

21. The trail balance of Deepak Store as on 31st December, 2020 is given below:

Plant and machinery360,000Gain on sale of furniture10,000
Salary expenses71,000Creditor96,000
Cost of goods sold755,000Sales1053,000
Debtors34,500Accumulated depreciation on plant and machinery45,000
Stock at end110,000Bank loan56,000
Investment120,000Interest on investment10,000
Good will48,500
Gas and oil expenses8,000
Repair expenses34,000
prepaid insurance24,000

Additional information:

a. Salaries are 80% of selling and 20% administrative expenditure.

b. Insurance expires of Rs. 18,000

c. Depreciation on plant and machinery is 15%

d. Gas and oil expenses are selling expenses.


a. Income statement based on NFRS

b. Balance sheet based on NFRS (4+4=8)


What is government accounting? Explain the features of new government accounting system. (3+5=8)


A. Following transactions are given to prepare a bank cash book. (4)

Marga 1: Balance at Bank Rs. 75,000

Marga 3: Received bank transfer order Rs. 3, 25,000 as a budget release

Marga 9: Issued a cheque of Rs. 20,000 for purchasing furniture.

Marga 22: Cleared advance of Subodh Regmi against the submission of bill of book purchase amount of Rs. 10,000 and cash Rs. 3,000.

Marga 22, Distributed total salary of Rs. 88,000 after deduction of Provident fund Rs. 16,000 and income tax of Rs. 4,000.

B. Following information is given:

Budget HeadsAnnual BudgetExpenditure upto BhadraExpenditure of Aswin
Office expenses60,00015,0003,000
House rent75,00025,00012,000
Furnitures and fittings35,000—–

Additional information:

a) Revolving fund received Rs. 2, 95,000

b) Cash Balance Rs. 2,000

c) Unclear advance Rs. 15,000

d) Loan by nearby office Rs. 3,000


Statement of expenditure (4)

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