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2011 Kerala State Higher secondary model examination feb 2011 accountancy with computerised accounting Question paper



Course: Plus II   University/board: Kerala State





HIGHER SECONDARY MODEL EXAMINATION FEB 2011
ACCOUNTANCY WITH COMPUTERISED ACCOUNTING
Maximum : 60 Scores
Time : 2 hours
HSE : 11 Cool off Time : 15 minutes
PART-A
ACCOUNTING
General instructions to candidates
Read the questions carefully before answering.
There is a 'cool off time' of 15 minutes in addition to the writing time of 2hours.
Use the cool off time to get familiar with questions and to plan your answers.
All questions are compulsory and only internal choice is allowed.
1. Identify the situation where court intervention is not required.
(a, change in profit sharing ratio b, insolvency of a partner c, the business become
illegal) (score 1)
2. Rahul and Aneesh started a partnership business by an oral agreement. Rahul gave
Rs.50000/- as loan to the firm. Calculate the interest payable to Rahul. (score 1)
3. On forfeiture of shares,sharecapital a/c is debited with----------------------
(a, face value b, called up capital c, paid up capital ) (score 1)
4. Arjun , Amal and Ajith are partners in the ratio of 3:2:1.Arjun retires and his share is
taken up by Amal and Ajith in the ratio 3:2. Calculate the new ratio. (score 2)
5. Ganga Ltd. is a newly started company. They are planning to make public issue of
shares for the first time. One of the board of directors was in doubt whether they could
raise enough funds during the period of recession. Another member Ashok suggested
issue of shares at a discount .As a commerce student what is your response to the
suggestion of Ashok. (score 2)
6. What do the following entries stands for.
a, Debenture suspense a/c
9% Debentures a/c
b, Old partners capital a/c
Profit and loss a/c (score 2)
7. KTC Ltd. forfeited 500 shares of Rs.10 each due to the non payment of final call of
Rs. 3/ share. Out of these 300 shares were re-issued at Rs.8/ share. How much amount
should be transferred to capital reserve. (score 2)
8. Anil says that there is no difference between dissolution of partnership and dissolution
of firm .Do you agree with this. If your answer is no, clarifies it. (score 3)
9. Find out the value of goodwill of Raj enterprises in the following case
Total capital employed –Rs.1,00,000/- Normal rate of return-6% Average profit-
Rs.15,000/- Remuneration to a partner-Rs.2000/-. The value of goodwill is equal to
three years purchase of super profit of the firm. (score 4)
10.On 1st Jan.2008 Arun Ltd. issued 20,000,9% debentures of Rs.100 each, redeemable
after 5years at a premium of 10%. Show the journal entries for issue and redemption
of debentures (score 4)
11.Deepak Ltd. offers new shares of Rs.10 each at a premium of 20% to the existing
shareholders in the ratio of one share for every 5 shares held. The present market
value of shares is Rs.15. Calculate the value of right. (score 4)
12 A and B are partners sharing profits in the ratio of 3:2. On the date of dissolution their
book reveals the following.
Capital of A:Rs.80,000/- B: Rs.50,000/-, creditors-Rs.2,10,000, cash-Rs.8,000/-.
The assets realized for Rs.2,54,300,the expenses of realization were Rs.15,300/-
Close the books of the firm. (score 6)
13.Rajesh and Ramesh are partners who share profits in the ratio of 2:1.Their Balance
Sheet as on 31/03/2008 is follows
Balance Sheet as on 31-3-2008
Liabilities Amount
Rs.
Assets Amount
Rs.
Creditors
Employees
provident fund
Profit &Loss a/c
Capital
Rajesh - 65,000
Ramesh-60,000
37,000
9,000
24,000
1,25,000
Cash
Bank
Debtors
Closing stock
Fixed assets
12,000
18,000
24,000
43,000
98,000
1,95,000 1,95,000
On this date, they admit Girish as a partner on the following terms
1, Girish should bring Rs.5000 as capital for 1/5th share in future profits and Rs.9000
for his share of goodwill.
2, Fixed assets appreciated by 10% of book value. Provision for bad and doubtful
debts is to be created for 5% on debtors, creditors include Rs.7,000 were not likely
to be paid.
3, Only 50% of the premium brought in by new partner is retained in the business.
Prepare Revaluation a/c, capital a/c and new Balance Sheet of the firm.(score 8)
14.Kumar Ltd. issued 25,000 equity shares of Rs.10 each at a discount of 10% payable
On Application-Rs.3/- share, on Allotment-Rs2/- share, on First and final call
Rs.4/-share .
The company received applications for 40,000 shares. Directors rejected
10,000 applications and a pro-rata allotment was made to the remaining. All money
due were received except first call on 1000 shares. The directors forfeited these shares
and re-issued 500 of these at Rs.7/ share credited as fully paid. Give journal entries in
the books of the company. (score 8)
PART-B
COMPUTERISED ACCOUNTING
15. Find the odd one
a, COBOL, b, Visual Basic c, Java d, Tally (score 1)
16. To display Trial Balance in ledger wise, press --------- key
a, Alt +F1 b, F5 c, Alt +F2 d, F9 (score 1)
17. Reghu created 6 ledger accounts in tally, but in the displayed list of ledger accounts ,
he founds the name of 8 ledgers. How does it happen . (score 2)
18. Identify stock category, stock group, and stock item from the following
Washing soap, Soap, Toilet Soap, Lux, Hamam, Rin Bar, Sunlight Bar (score 2)
19. Give the voucher type and key to be selected to enter the following transactions
1,cash withdrawn from bank 2, wages outstanding
3, Goods purchased (score 3)
20. Anand, a commerce student intends to prepare a bank reconciliation statement after
creating necessary ledger accounts and voucher entries.
a, Which ledger is to be selected to create Bank Reconciliation Statement
b, Mention the different path to arrive at this ledger in Tally. (score 3)
21.Draw a chart showing the hierarchy of the following
a, Creditors b,Debentures c,Liabilities d, Long term liabilities e, Bank Overdraft
f, Bank loan for 15 years. (score 3)
22. Mr. Sajeesh purchased a machinery for Rs.50,000/- and spent Rs.5,000/- for its
installation cost. Depreciation is charged at 10% p.a. on diminishing balance method.
You are required to give the procedure to prepare a depreciation statement in
Microsoft Excel for 5 years. (score 5)
OR
23. Fill the missing columns and write remarks
No. Voucher Type Function key Remarks
1 Payment voucher ----------------- To record all
payments
2 ------------------- F6 ---------------------
3 Contra voucher ---------------------- ---------------------
4 Debit note voucher ---------------------- ---------------------
5 Stock journal ---------------------- ---------------------
6
-------------------
F9 To record all
purchases
. (score 5)
.





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