Name of the School:

Higher Secondary Model Examination, February 2011

Part-III

ACCOUNTANCY WITH COMPUTERISED ACCOUNTING

HSE-II 2220 General Instructions to the 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 answer nor to discuss anything with others during the cool-off time. * Use the cool-off time to get familiar with questions and to plan your answers. * Read questions carefully before answering. * All questions are compulsory and only internal choice is allowed. * When you select a question, all the subquestions 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 whereever necessary.
PART-A-ACCOUNTANCY

Max.Score: 60 Time: 2 hrs.

1.

Identify the following transaction Good will A/cDr To Share Capital

2.

Ambani Ltd. offers new shares of Rs.100 each at 25% premium to existing share holders in the ratio of one share for every five shares held. The market price of share is Rs.150. Calculate the value of right

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3.

Anjana a plus two student prepared the following entries in connection with dissolution of a partnership firm. 1. To pay Realisation expense by firm Realisation A/c Dr. To Partners Capital 2. To Realise Asset Asset A/c Dr. To Realisation 3. Un recorded Asset Realised Realisation A/c Dr. To Bank 4. To pay off liabilities Realisation A/c Dr. To liability Make necessary correction if any and rewrite them

4.

Pass the issue and redemption entries for the following issue of debenture 1,000, 12% debentures of Rs.100 each issued at a discount of 5% and redeemable at a premium of 5% after 7 years.

5.

Jishnu, Dinu and Deepu are equal partners in a firm. They close accounts on March 31st every year. Deepu Died on 31st September, 2008. As per partnership deed deceased partners share of profit to the date of death is calculated on the basis of average profit of last completed 4 years. The profit of the firm for the last 4 years were 25,500, 31,500, 35,000 and 34,000 respectively. Calculate the deceased partners share of profit up to the date of death . Also give journal entry (Score 4)
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6. The directors of Avinash Ltd forfeited 500 shares of Rs.10 each originally issued at par due to non payment of final call Rs.3 per share. These share are then reissued as fully paid at Rs.8 per share. Pass the necessary journalentries for forfeiture and reissue of shares. Rekha, Chippy and Aswani are partners in a firm sharing profit in the ratio 5:3:2. Chippy retired and new profit in the ratio between Rekha and Aswani was 2:3. On the date of retirement the value of goodwill of the firm was valued at Rs.1,20,000. Pass Journal entries for the treatment of goodwill on Chippis retirement.

7.

8.

Shyam Limited purchased assets of Rs.7,60,000 and took over the liabilities worth Rs.60,000 of Sangeth Limited at an agreed value of Rs.6,60,000. The company issued 12% debentures at 10% discount in full satisfaction of the purchase price Give journal entries.

9.

On Ist January 2010 Aslam and Ashly entered into a partnership contributing Rs.40,000 and Rs.30,000 respectively and sharing profits and losses in the ratio of 3:2 Aslam is to be allowed salary of Rs.500 per month. Interest on capital is to be allowed 5% per annum. During the year Alsam with draw Rs.2,000 and Ashly Rs.4,000. Interest on drawings, Rs.150 and Rs.240 respectively. The profit of the year before the above mentioned adjustment was Rs.12,500.

Prepare profit and loss appropriation account and partners capital account

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10.

Neenu and Dithi are in partnership sharing profit and lossess equally. The Balance sheet of M/s.Neenu and Dithi as on 31.12.2010 was as follows. Liabilities Capital Account Neenu Dithi Sundry Creditors Amount Assets Amount

45,000 45,000 20,000

Sundry Fixed Assets 60,000 Stock 30,000 Bank 20,000

Total

1,10,000

1,10,000

On 1.1.2011 they agreed to take Veena as 1/3 rd partner to increase the capital base to Rs.1,35,000. Veena agrees to pay Rs.60,000. Prepare Partners Capital account and Balance sheet after Veenas admission.

11(a)

Belwex Ltd.was registered with an authorised capital of Rs.50,00,000 divided into equity shares of Rs.10 each. The company issued 1,00,000 equity shares at a premium of Rs.5 per share payable as follows. On application Rs.3.00 On allotment Rs.7.00(including premium) and On first call Rs.5.00

The company received application for 1,20,000 shares. The directors alloted the shares as follows. a) Applicants of 80,000 shares were alloted in full. b) Applicants of 30,000 share received an allotment of 16,000 shares. c) The balance shares alloted to the remaining applicants.
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All the amount due were received except the first call on 100 share. These share were forfeited and reissued as fully paid at Rs.15 per share. Draft journal entries in the books of the company show necessary working note. OR 11 (b) Nava Lakshmi Ltd issued prospectues inviting applications for 50,000 shares of Rs.10 each. These share were issued at par on the following terms. On application On allotment On First call on final call Rs.3 Rs.3 Rs.2 and the balance Rs. 2

Applications were received for 60,000 shares. Allotment were made on the following basis. i) To applicants for 10,000 shares: in full (ii) To applicants for 20,000 shares:15,000 shares (iii)To applicants for 30,000 shares:25,000 shares

All excess amount paid on application is to be adjusted against the amount due on allotment. The shares were fully called up and paid up except amount of allotment, first and final call not paid by those who applied for 2,000share out of the group of applying for 20,000 shares. All the shares on which calls were not paid were forfeited by the Board of Directors. 1000 forfeited shares were reissued as fully paid on receipt of Rs.8 per share. Pass journal entries in the books of Nav Lakshmi Limited.

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PART-B COMPUTERISED ACCOUNTING

12.

Identify the Tally vertion in which VAT is firstly used. a) Tally 5.4. c) Tally 7.2 b) Tally 6.3. d) Tally 9

13

Specify the path to obtain cost category Summary?

14. There is a quarrel between Jabbar and Akhil regarding the deletion of ledger accounts in Tally. Jabbar: Ledger can be deleted before providing Voucher entries using that ledger account. AKhil: Ledger can be deleted even after providing voucher entries using that ledger account. Whose argument is correct? Give reason 15 Mr.Anoop a plus two commerce student wants to provide opening cash balance Rs.7,000 while preparing final accounts in Tally. Can you help Anoop?

16.

Match the following A a) b) c) d) e) f) Delete a ledger Calculator Godown transfer Secondary ledger Change period Budget Variance Report a) b) c) d) e) f) B Alt + B Alt + C Alt + N Alt + D Alt + F7 Alt + F2 (Score 2 )

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17.

Correct the mistake if any a) There are 28 primary groups in tally b) Dozen is a simple stock unit c) The functional key F3 is used for Bank Recenciliation statement

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Score 2

18.

Give voucher type and the key to be selected to enter the following transaction

a) Paid carriage on sales Rs.300. c) Paid salaries Rs.3000. e) Outstanding salaries Rs.200. f) Received Commission Rs.900

b) Withdraw cash from S.B.T.for personal use of the owner Rs.7000/d) Goods return to Krishna one of our supplier Rs.700/(Score 3)

19.a) Follwoing is the input of an Excel worksheet Cell Address A2 B2 C2 D2 E2 F2 G2 H2 I2 Write down the following formula a) D.A. b) HRA c) CCA d) Net Pay e) Gross Pay (OR) 19.(b) What is Bank Reconciliation statement? How will you prepare Bank Reconcilitation statement using tally software. llustrate your answer using imaginary figures Name of input

Name of employee Basic pay DA 94 % of Basic Pay HRA 10% of Basic Pay CCA 5% of Basic Pay Gross Pay SLI GIS Net Pay

Score 5

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Prepared by UNNIKRISHNAN.P.A. H.S.S.T.COMMERCE G.H.S.S.KALLIL, METHALA ERNAKULAM.

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