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MODEL HIGHER SECONDARY EXAMINATION 2011 ACCOUNTANCY WITH COMPUTERISED ACCOUNTING HSE II Max Score: 60 PART A PARTNERSHIP AND COMPANY ACCOUNTS 1. In the absence of an agreement interest on partners loan will be paid @------------% 2. Share premium is shown in company balance sheet under the heading -------------3. Debenture sinking fund is closed by transferring to ---------------[a] General Reserve [b] P & L Account [c] Capital Reserve 4. Profit available in the balance sheet at the time of admission of a partner is to be credited to all partners capital account in new profit sharing ration justify the answer. 5. X,Y and Z are partners sharing profits in the ratio of 5:3:2. They change their ratio as 2:2:1 on 1.1.11. Goodwill on that date valued at `40,000. Give journal entry to give effect to the change. 6. S.S Ltd purchased a machinery worth ` 2,20,000 from Flex ltd and issues 10% debentures of ` 100 each at 10% Premium as purchase consideration. Pass journal entries in the book of SS Ltd. 7. Give the meaning of : (a) Sweat Equity (b) ESOP (c) Right Issue (d) Buy back of shares 8. Ashok, Aswin and Asha are partners in a firm in 5:3:2 ratio. Their fixed capital were `30,000 `20,000 ` 10,000. For the year 2009 interest on capital was credited to them @ 10% pa instead of 8% pa. Pass Journal entry to rectify the error. 9. Complete the Series: (a) Sacrificing Ratio Gaining Ratio (b) Dissolution Reconstitution (c) Trading Account 1 | Page : : : : : Admission --------------------? -------------------? Revaluation Account. P & L Account [4] [4] [2] [2] [2] [1] [1] [1] Max. Time: 2 Hours Cool Off Time:15Minutes

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P & L Account : -----------------------? : : Capital Account ----------------------? [4]

(d) Balance of P&L Appropriation A/c Balance of Capital Account

10. Anu, Binu and Cini are partners sharing profits and losses in the ratio of 2:2:1. Their Balance sheet as on 31.12.2008 was as follows: Liabilities Creditors General Reserve Capital Accounts Anu Binu Cini 15,000 25,000 30,000 ------------------------------1,15,000 =================== ---------------------------1,15,000 ================= ` 25,000 20,000 Assets Bank Debtors Stock Plant and Machinery ` 10,000 25,000 40,000 40,000

Anu died on 30th April 2009 and the partnership deed provides that in the event of death of a partner, his executers should be entitled to: 1.His capital on the date of previous balance sheet 2. His portion of reserve on the date of last balance sheet 3. His portion of profit to the date of death on the basis of previous years proft. 4. His share of goodwill calculated on the basis of 3 years purchase of the average profit of the past Four years. The profits of the firm for the last four years were `22,000 , `21,000 , `19,000 and `18,000 You are required to ascertain the amount payable to the Executors of the deceased partner [5]

11. Given below certain data on dissolution of a firm. Creditors (book value) `70,000, payment to them `69,500 Asses realized `1,05,000, realization expenses `3,000. Prepare necessary accounts 12. XL co., ltd with an authorized capital of 2,00,000 divided into 20,000 equity shares of ` 10 each issued the entire shares payable as follows: [6]

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`5 on application (including premium) ` 4 on allotment, `3 on first call. All amount were duly received except the allotment money on 200 shares and the first call money on 500 shares(including 200 shares mentioned above). The above 500 shares were forfeited and 400 of these (including the 200 shares) were reissued at ` 7 as fully paid up. Give journal entries. OR P ltd was registered with an authorized capital of 10,00,000 divided into 1,00,000 shares of`10 each. The company offered 60,000 shares to the public which were payable `2 on application, `4 on allotment and the balance when required. Application for 92,000 shares were received on which the directors allotted as follows: Application for 40,000 shares full Application for 50,000 shares 40% Application for 2000 shares NIL `1,72,000 was realized on account of allotment money (excluding the amount carried from application money) show journal entries PART B COMPUTER APPLICATION 1. P & L Account is displayed through: (a) Account information (b) Company Information (c) Gateway of tally (d) Statement of accounts [1] [8] [8]

2.

(Alt + C) key is used to (a) Create ledger accounts (b) Create groups (c) Create units of measure (d) All the above [1] [2] [2]

3. Give 2 different paths to generate cash book 4. Give 2 situation when you need to use F11 features 5. The date of balance sheet of a company is displayed by Tally as on 31.03.2009 can we change the date to 31.12.2009. How? 6. Explain the procedure to show bank reconciliation statement in tally

[2] [3]

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7. Prasad a plus two student, got this screen while entering budget: Name: Under: Period of budget Set/Alter Budget of

From To

Group

Ledger Cost centre

(a) How did he reach here? (b) How can he reach budget variance report? [4]

8.

Write the formulae for following calculation in a spread sheet:

Cell

A1

B1

C1

D1

E1

F1

G1

H1

Content

Name

Basic Pay

DA 25% of BP

HRA Fixed 1000

CCA 10% of BP

Gross PF Pay 20%

Net Salary

Gross Pay [5]

Hint: DA for 1st employee = C1 = B1 * 25%

OR Century has 3 departments Production, Accounts and Marketing. There are 3 sales men Akash, Prakash, and Vikas in marketing department. Identify the steps for creating cost categories and cost centers. Which screen gives you output? How will you reach there? [5]

Good Luck Group Members: (PALAKKAD CLUSTER) 4 | Page

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1. Nandakumar.V G.H.S.S. KUMARAPURAM, PALAKKAD G.H.S.S. AGALI, PALAKKAD G.H.S.S. KOTTAYI, PALAKKAD G.H.S.S. THENKURISSI, PALAKKAD

2. Sivadasan.K 3. Shareen. K.K 4. Preetha. E.V

5. Mariyamma. V C.F.D.V.H.S. MATHUR, PALAKKAD 6. Sobhana.K.K 7. Radha.C 8. Remani.M.P G.M.V.H.S.S. THIRUVALATHUR, PALAKKAD K.H.S.S. KANNADI, PALAKKAD M.N.K.M.H.S.S. CHITTILANCHERI, PALAKKAD.

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