"В его классе есть карандаши."
Translation:There are pencils in his class.
This sentence is sort of ridiculous in English--it should be classroom, not class. A class in English is composed of students, not their materials. So, does класс in Russian also mean the room?
I think "The pencils are in his class" should also be accepted. Am I Right?
In my experience, I believe that by specifying в классе we use the construction "there is/are" to begin with. It seems to be the pattern. Functionally though, you're correct. They mean the same thing.
The down votes are interesting.
With the non-native speaker caveat, I think the translation for your sentence would more appropriately be Карандаши в его классе. One, the new or important information comes at the end of the sentence, and in your translation you're concerned about the location of the pencils rather than the fact that there are pencils, and two, the presence of есть in the sentence stresses the fact that we're concerned about the existence of said pencils.
Given the age of your comment - and if I'm right - you've probably figured this out long ago ... :-)