Time Allowed: 2 hours<\/span> General Instructions to Candidates:<\/span><\/p>\n Part – A<\/span> I. Answer all questions from 1 to 5, each question carries 1 score. (5 \u00d7 1 = 5)<\/span><\/p>\n Question 1. Question 2. Question 3. Question 4. Question 5. Answer any 3 questions from 6 to 9. Each question carries 2 score. (3 \u00d7 2 = 6)<\/span><\/p>\n Question 6. Question 7. Question 8. Question 9. Answer any 1 question from 10 to 11. Each question carries 3 score. (1 \u00d7 3 = 3)<\/span><\/p>\n Question 10. Question 11. Answer all questions from 12 to 13. Each question carries 4 score. (2 \u00d7 4 = 8)<\/span><\/p>\n Question 12. Question 13. Note: Answer any 2 questions from 14to 16. Each question carries 5 score (2 \u00d7 5 = 10)<\/span><\/p>\n Question 14. Question 15. Question 16.
\nCool off time: 15 Minutes<\/span>
\nMaximum Marks: 60<\/span><\/p>\n\n
\nACCOUNTANCY<\/span><\/p>\n
\nIn the debit side of the Receipt and Payments account of a club showed a pavilion fund of Rs. 10,000. While preparing the final accounts of that club, pavilion fund should be shown on …………
\na) Asset side of balance sheet
\nb) Liability side of balance sheet
\nc) Debit side of income and expenditure account
\nd) Credit side of income and expenditure account
\nAnswer:
\nb) Liability side of balance sheet<\/p>\n
\nP, Q and R are partner in a firm sharing profits and losses in the ratio of 3 : 2 : 1. R retired from the business. Gaining ratio of P and Q will be
\na) 2 : 1
\nb) 3 : 1
\nc) 3 : 2
\nd) 1 : 1
\nAnswer:
\nc) 3 : 2<\/p>\n
\nOn dissolution of a firm the loss on realisation is transferred to ………….
\na) Debit side of partner\u2019s capital account
\nb) Credit side of partner\u2019s capital account
\nc) Debit side of bank account
\nd) Credit side of bank account
\nAnswer:
\na) Debit side of partner\u2019s capital account<\/p>\n
\nA and B are partners in a firm sharing profits and losses in the ratio of 2 : 1. They admitted C into the firm for 1\/4th share in future profits. The new profit sharing ratio will be …………
\na) 1 : 1 : 1
\nb) 2 : 2 : 1
\nc) 2 : 1 : 4
\nd) 2 : 1 : 1
\nAnswer:
\nd) 2 : 1 : 1<\/p>\n
\nReceipts and payments account of a not for profit organisation is similar to ……….. of a business organisation.
\na) Profit & loss account
\nb) Cashbook
\nc) Balance sheet
\nd) All of the above
\nAnswer:
\nb) Cashbook<\/p>\n
\nAkhil, a partner withdrew Rs. 4,000 each on the last day of every month throughout an accounting year. Calculate his total interest on drawing at 12% p.a.
\nAnswer:
\nTotal drawings = 4000 \u00d7 12 = 48,000
\nInterest on drawings = 48,000 \u00d7 \\(\\frac{12}{100}\\) \u00d7 \\(\\frac{5.5}{12}\\)
\n= 2640<\/p>\n
\nState any two circumstances under which a partnership firm will be dissolved.
\nAnswer:<\/p>\n\n
\nName the accounts to be prepared on dissolution of a firm, except cash\/bank account.
\nAnswer:<\/p>\n\n
\nState any two features of not for profit organisation.
\nAnswer:<\/p>\n\n
\nArathy and Aswathy are partners in a firm. They admitted Anjaly into the firm for 1\/4th share in future profits. As per partnership deed Anjaly should bring Rs. 70,000 as her capital and Rs. 20,000 as her share of goodwill. At the time of Admission of Anjaly, the balance sheet of Arathy and Aswathy showed a goodwill of Rs. 15,000.
\nPass Journal entry for the above transactions.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-1.png\")
<\/p>\n
\nFollowing information was given by Aditya Hospital for the year ending 31.3.2017.
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-2.png\")
\nThe total amount paid for medicine during the year was Rs. 70,000.
\nCalculate total amount of medicine to be debited in the income and expenditure account of the hospital for the year ending 31.3.2017.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-3.png\")
<\/p>\n
\nState any four items appear on the credit side of a deceased partners capital account.
\nAnswer:<\/p>\n\n
\nBindhu, Sindhu and Athira are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 31.3.2017, Sindhu retired from the business. On that date goodwill of the firm was valued at Rs. 80,000. Bindhu and Athira decided to continue in the business in the ratio of 1 : 1.
\nPass journal entry for the Sindhu\u2019s share of goodwill.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-4.png\")
<\/p>\n
\n1. Sindhu’s share of goodwill = 80,000 \u00d7 \\(\\frac{2}{5}\\) = 32,000
\n2. Calculation of gaining ratio
\nGaining ratio = New ratio – old ratio
\nNew ratio = 1 : 1, old ratio = 2 : 2 : 1
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-5.png\")
<\/p>\n
\nAncy, Jancy and Bincy are partners in a firm sharing profits and losses in the ratio of 2 : 1 : 1. They dissolved the firm on 31.3.2017. On dissolution following were some of the transaction taken place after the assets and liabilities are transferred to realisation account.
\na) Creditors were settled at 10% less than book value (Book value Rs. 40,000)
\nb) Stock was taken over by Ancy at Rs. 38,000
\nc) Realisation expenses amounted to Rs. 3,000
\nd) Total assets realised Rs. 1,30,000
\ne) There was an unrecorded computer which was sold for Rs. 12,000
\nPass journal entries for the above transactions.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-6.png\")
<\/p>\n
\nRajan, Sojan and Jojan are partners in a firm in the ratio of 3 : 2 : 1. Their capital balances as on 1.1.2016 were Rs. 70,000, Rs. 60,000 and 50,000 respectively. According to the partnership deed;
\na) All the partners are entitiled to get interest on capital at 10% p.a.
\nb) Sojan to get a salary of Rs. 3,000 per month.
\nc) Interest of drawings is to be charged at 15% p.a, irrespective of the period of withdrawal.
\nTheir drawings for the year 2016 were Rs. 20,000, Rs. 10,000 and Rs. 10,000 respectively. During the year 2016, the firm earned a net profit of Rs. 60.000 after making all appropriations (divisible profit).
\nPrepare capital accounts of partners under fluctuating capital method.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-7.png\")
<\/p>\n
\nFollowing is the Receipts and payments account of a club for the year ending 31.3.2017.
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-8.png\")
\nAdditional information
\na) The club had 100 members each paying an annual subscription of Rs. 250\/-
\nb) Subscription received includes Rs. 2,000 relating to the year 2015 – 16.
\nc) Depreciate library books at 10% p.a.
\nd) 2\/3 of entrance fee is to be treated as income,
\nPrepare income and expenditure account of the club for the year ending 31.3.2017.
\nAnswer:
\n![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-9.png\")
\nNote: Donation of Rs. 3,000 may be treated as income. It may be considered as a general purpose donation.<\/p>\n
![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-10.png\")
![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-11.png\")
![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-12.png\")
![\"Plus](\"https:\/\/www.aplustopper.com\/wp-content\/uploads\/2019\/01\/Plus-Two-Accountancy-Model-Question-Paper-1-13.png\")
<\/p>\n