Kerala Plus One Accountancy Question Paper March 2020 with Answers

Teachers recommend solving Kerala Syllabus Plus One Accountancy Previous Year Question Papers and Answers Pdf March 2020 to improve time management during exams.

Kerala Plus One Accountancy Previous Year Question Paper March 2020

Time: 2 Hours
Maximum Score: 60

I. Answer all questions from 1 to 11. Each carries 1 Score. (11 × 1 = 5)

Question 1.
Writing off the cost of intangible assets like patents, copyrights, etc. is known as _____________
(a) Depreciation
(b) Depletion
(c) Amortization
(d) Obsolescence
Answer:
(c) Amortization

Question 2.
The maker of a bill of exchange is known as _____________
(a) Drawee
(b) Payee
(c) Drawer
(d) None of these
Answer:
(c) Drawer

Question 3.
_____________ is an example of direct expense.
(a) Salary
(b) Wages
(c) Rent
(d) Office Expense
Answer:
(b) Wages

Question 4.
The person who owes money to the business is known as _____________
(a) Debtor
(b) Creditor
(c) Partner
(d) None of these
Answer:
(a) Debtor

Question 5.
A series of operations in a certain order to achieve a desired result is known as _____________
(a) Procedure
(b) Data
(c) Connectivity
(d) Decisions
Answer:
(a) Procedure

Question 6.
Multiple types of taxes on goods and services were abolished through the introduction of _____________
(a) VAT
(b) GST
(c) Octroi
(d) Income tax
Answer:
(b) GST

Question 7.
In the case of bill of Exchange _____________ additional days are added with its period to arrive at the maturity date.
(a) 5 days
(b) 3 days
(c) 2 days
(d) 1 day
Answer:
(b) 3 days

Question 8.
Which among the following is not an advantage of a computerized accounting system?
(a) Speed
(b) Cost of training
(c) Reliability
(d) Accuracy
Answer:
(b) Cost of training

Question 9.
The database element that enables to retrieval of data and information:
(a) Tables
(b) Queries
(c) Forms
(d) Report
Answer:
(b) Queries

Question 10.
If the salary paid during a year is 5,000 and the outstanding at the end of the year is 2,000, then, the amount of salary to be debited to the profit and loss account is:
(a) 3,000
(b) 5,000
(c) 2,000
(d) 7,000
Answer:
(d) 7,000

Question 11.

This symbol represents a _____________ in entity-relationship model.
(a) Entity
(b) Weak entity
(c) Relationship
(d) Attribute
Answer:
(b) Weak entity

II. Answer 4 questions from 12 to 16, each carries 2 scores. (4 × 2 = 8)

Question 12.
Give the adjusting journal entries for the following items:
(a) Bad debt
(b) Salary outstanding
Answer:

Question 13.
List but any four limitations of computerized accounting systems.
Answer:
Limitations of computerized accounting system:

• Huge training cost
• System failure
• Inability to check unanticipated errors
• Security problem
• Costly

Question 14.
Give any two situations that increase the passbook balance while preparing a bank reconciliation statement.
Answer:

• A customer directly deposited into bank a/c.
• A cheque was issued but not presented for payment.
• Interest is credited in the passbook but not entered in the cash book.
• Dividends are collected and credited by the bank.

Question 15.
Name any four special journals used in large business firms.
Answer:

1. Cashbook
2. Purchase day book
3. Sales day book
4. Purchase return book
5. Sales return book

Question 16.
From the given items list out ‘Entities’ and ‘Attributes’.

• Employee
• Date of Birth
• ABC Company Ltd.
• Employee Code

Answer:

Entity	Attribute
(a) Employee	(a) Date of birth
(b) ABC Company Ltd.	(b) Employee code

III. Answer any 5 questions from 17 to 22, each carries 3 scores. (5 × 3 = 15)

Question 17.
What are the objectives of accounting? (any three)
Answer:
Objectives of Accounting:

• Keeping records of business transactions.
• Ascertainment of profits or loss.
• Ascertainment of the financial position of business enterprises.
• Providing meaningful information to different groups of people having an interest in the business.

Question 18.
Give journal entries for the following transactions:
(a) Sold goods to Midhun ₹ 18,000.
(b) Paid Rent ₹ 10,000.
(c) Withdrew cash from business for personal use ₹ 4,000
Answer:

Question 19.
Mr. Anand an accountant of a business identified the following errors in their book of accounts. Name the type of error that occurred.
(a) Payment to the supplier of goods for ₹ 30,000 is wrongly posted to the debit of their account as ₹ 3,000.
(b) Credit sales to Majeed ₹ 25,000, not entered in the sales book.
(c) Purchase of machinery for ₹ 50,000 is debited to the purchases account.
Answer:
(a) Error of commission.
(b) Complete omission.
(c) Error of principle.

Question 20.
Compute the cost of goods sold from the following information using a suitable formula:
Opening Stock – ₹ 50,000
Purchases – ₹ 1,50,000
Closing Stock – ₹ 40,000
Wages – ₹ 80,000
Carriage inwards – ₹ 4,000
Answer:
Cost of Goods Sold (CGS) = Opening Stock + Net Purchase + Direct Expenses – Closing Stock
= (50,000 + 1,50,000 + 80,000 + 4,000) – 40,000
= 2,44,000

Question 21.
Briefly explain the components of a Computer. (any three)
Answer:
Components of a Computer

• Input Devices – Keyboard, Mouse, Light Pen, etc.
• CPU – Memory Unit, ALU, and Control Unit.
• Output Devices – Monitor, Printers, Plotters, etc.

Question 22.
Give the expansion of DBMS and list out any four of its components.
Answer:
(a) DBMS – Data Base Management System
(b) Components of DBMS

• Tables
• Queries
• Forms
• Reports
• Macros
• Modules

OR

Components of DBMS

• Data
• Hardware
• Software
• Users

IV. Answer any 2 questions from 23 to 25, each carries 4 scores. (2 × 4 = 8)

Question 23.
From the following information find out the amount of credit sales.
Cash received from Debtors – ₹ 60,000
Debtors as on 01.01.2016 – ₹ 40,000
Debtors as on 31.12.2016 – ₹ 50,000
Bad debts – ₹ 5,000
Discount allowed – ₹ 4,000
Answer:
Total Debtors A/c

Question 24.
State which principles/concepts are applicable in the following cases.
(a) Creation of provision for doubtful debts.
(b) Capital brought by the owner is treated as liability.
(c) The method of calculation of depreciation is not changing year after year.
(d) Accounting should focus on material facts.
Answer:
(a) Conservatism or prudence principle.
(b) Business entity/Accounting entity concept.
(c) Consistency principle.
(d) Materiality principle.

Question 25.
Give rectification entries for the following transactions:
(a) Salary paid to Ramu ₹ 5,000 was debited to his account.
(b) Credit sales to Sajan ₹ 10,000 was recorded as ₹ 1,000 in the sales book.
(c) Credit purchases from Zakariya ₹ 20,000 were not recorded.
(d) Cash received from Sakeer ₹ 4,000 was wrongly posted to Shaheer’s account.
Answer:

V. Answer any 2 questions from 26 to 28, each carries 5 scores. (2 × 5 = 10)

Question 26.
Mr. Prakash the Chief Accountant of a business identified some differences in their casbook balance and bank passbook balance as of June 30, 2017. you are required to prepare a bank reconciliation statement to reconcile the balances.
(a) Balance as per cash book ₹ 64,000
(b) Cheque issued but not presented for payment ₹ 5,000.
(c) Bank charges debited by bank ₹ 500.
(d) A cheque of ₹ 10,000 was deposited but not collected by the bank.
(e) A customer directly deposited ₹ 3,000 in the bank
(f) The Bank directly collected the dividend and credited it to a bank account ₹ 4,000.
Answer:
Bank Reconciliation Statement as of 30.06.2017

Question 27.
On July 1, 2014, Elite printers purchased machinery for ₹ 3,00,000 and spent ₹ 10,000 for its installation. It was decided to provide depreciation @10% p.a. on straight-line method. Prepare machinery account for first 4 years. Assuming that books are closed on 31st December every year.
Answer:
Machinery A/c

Question 28.
Deepak sold goods to Ramesh for ₹ 20,000 on January 13, 2016, and drew a bill payable after two months. Ramesh accepted the bill and returned to Deepak. On January 20, Deepak discounted the bill with his bank for ₹ 19,500. The bill was dishonored on the due date. Pass journal entries in the books of Deepak.
Answer:
Journal

VI. Answer any 1 question from 29 to 30. Each carries 8 scores. (1 × 8 = 8)

Question 29.
From the following Trial Balance and additional information given in respect of M/s, Kochin Traders, prepare the Trading and Profit and Loss account for the year ended 31st March 2018.
Trial Balance as of 31st March, 2018

Additional Information:
(a) Salary outstanding ₹ 1,000.
(b) Provides 5% on debtors for provision for doubtful debts.
(c) Insurance prepaid ₹ 2,500.
(d) Depreciation on Land and Building @ 5%.
(e) Closing stock was ₹ 14,200.
Answer:
Trading and Profit & Loss A/c for the year ended 31/3/18

Balance Sheet as of 31/03/2018

Question 30.
Mr. Sharma, the petty cashier of Megha Traders received 1,500 on June 01, 2018, from the head cashier. For the month, details of petty expenses are listed as under:

Answer:
Petty Cash Book