Kerala Plus One Accountancy Previous Year Question Paper 2017
Time Allowed: 2 hours
Cool off time: 15 Minutes
Maximum Marks: 60
General Instructions to Candidates
- There is a ‘cool off time of 15 minutes in addition to the writing time of 2 hrs.
- You are not allowed to write your answers nor to discuss anything with others during the ‘cool off time’.
- Use the ‘cool off time’ to get familiar with the questions and to plan your answers.
- Read questions carefully before you answering.
- All questions are compulsory and the only internal choice is allowed.
- When you select a question, all the sub-questions must be answered from the same question itself.
- Calculations, figures, and graphs should be shown in the answer sheet itself.
- Malayalam version of the questions is also provided.
- Give equations wherever necessary.
- Electronic devices except non-programmable calculators are not allowed in the Examination Hall.
Vinod took a loan of र 1,00,000 from Canara Bank. Identify the debtor in the above transaction
Writing off the cost of intangible assets is termed as …………..
Which one of the following is NOT a feature of Ready-to-use accounting software?
a. It is suited to small organizations.
b. A volume of accounting transactions is very low
c. Cost of installation is high.
d. A number of users is limited.
Classify the following assets under appropriate heads.
“A Balance Sheet is more reliable than statement of affairs”. Explain.
Classify the following into input devices and output devices.
Give any two limitations of computerized accounting systems.
a. Write a suitable entity for the attributes given below
b. Also, identify the key attribute to that entity.
a. Mention the name of the reserve that is created out of revenue profits.
b. How does it differ from capital reserve?
Opening stock र 18,000
Purchases र 22,000
Wages र 5,000
Closing stock र 15,000
a. Ascertain cost of goods sold.
b. How is gross profit, if sales are? 37,500
Write any two data types in MS-Access with suitable examples.
Match the following
|a.||Closing stock valued at cost or market price whichever is less||i||Objectivity Principle|
|b.||Every transaction will have two aspects||ii.||Money measurement concept|
|c.||All business events not recorded in the accounting||iii.||Dual aspect concept|
|d.||Accounting information should be free from bias||iv.||Principle of conservatism|
- Started business with cash र 85,000 and stock र 15,000.
- Sold goods for cash र 10,000.
a. Prove that the accounting equation is satisfied in the above transactions.
b. Also, pass the journal entries to record the above transactions
Purchases day book was undercast by र 3,000.
Wages paid र 500 in connection with purchase of machinery has been debited to wages account.
a. Identify the type of errors committed in the above transactions.
b. Pass the entries to rectify it.
On 1st January. 2016 Arun drew a 3 months bill upon Varan for र 6000. On 3rd January 2016, Arun discounted the bill with his banker @ 6% per annum. The bill was honored on the due date.
a. Identify the drawer in the above bill.
b. Record the necessary journal entries in the books of Arun and Varan.
The cashbook of Manu showed a debit balance of र 18,000. On comparing cash book with Passbook, the following differences were noted.
a. Cheque issued but not yet presented for payment र 4,000.
b. Bank charges debited in the passbook र 500.
c. Cheques sent to the bank for collection but not yet collected र 3,000.
d. Rent collected and credited by the bank र 3,500.
- Name the statement Manu will prepare in order to reconcile balance as per cash book with passbook,
- Prepare that statement to reconcile it.
Sethu a dealer in books had the following transactions for the month of June 2016.
a. Purchased books on credit from Himalaya Publishers:
100 copies of Accountancy Text for Class
@ र 150 per text.
80 copies of Business Studies Text for Class XI
@ र 120 per text.
b. Purchased books on credit from Saradhi Books:
90 copies of Accountancy Text for Class
@ र 180 per text
75 copies of Business Studies Text for Class XII @ र140 per text Trade discount allowed 5%.
c. Returned to Saradhi Books :
8 copies of Accountancy Text for Class XII
@ र 180pertext.
15 copies of Business studies Text for Class XII
@ र140 per text.
- Record the above transactions in the appropriate daybooks.
- Identify the source document for recording the transaction no. (c) above.
The following is the Trial Balance of Kiran, a trader as on 31 st December 2016.
a. The closing stock was valued at ? 10,000.
b. Carriage outstanding? 500.
c. The commission received in advance? 700.
d. Provide 5% of debtors for bad debts.
Prepare Trading and Profit and Loss account for the year ended 31 st December 2016 and a Balance Sheet as on that date.
c. Cost of installation is high.
Current Assets – Cash, Stock
Fixed Assets – Land, Machinery
- In the Balance sheet, the balance of assets,
- The balance sheet is prepared under the double entry system. A statement of affairs is prepared from incomplete records.
Input devices: Keyboard, Mouse
Output devices Printer,’Monitor
Limitations of CAS:
- The high cost of training
- Staff opposition
- System failure
- Breach of security
- Inability to check unanticipated errors
- ill effect or health
a. Entity – Account
b. Key Attribute – Account code\code
a.Revenue Reserve/General Reserve
b. Difference between capital Reserve and General Reserve:
- Capital Reserve created out of Capital pro¬fit, Revenue Reserve created out of Rev¬enue profit
- Capital Reserve – For compliance of legal requirements
Revenue Reserve – Strengthen financial position
- Capital Reserve – cannot be utilised for .dis¬tribution of dividend
Revenue Reserve – Can be utilised for dis¬tribution of dividend
a. Cost of goods sold = Opening stock + Net
purchases + Direct exp – closing stock Cost of goods sold
= 18000 + 22000 + 5000-15000 = 30,000 b. Gross Profit = Cost of goods sold – Net sales = 37500-30000 = 7500
a. Text – It can be a name
b. Date/time: -Birthdate
a. a-Principle of Conservatism(iv)
b. b – Dual aspect concept (iii)
c. c – Money measurement (ii)
d. d – Objectivity principle (i)
a. Assets = Liability + capital
Cash + Stock
- 85000+15000 = 0 + 1,00,000
95000 + 5000 = 0+1,00,000
a. i. The error of commission/be sided Error
ii. The error of principle/two-sided Error