Kerala Plus Two Answer Key 2025 Accountancy AFS

SECOND YEAR HIGHER SECOI\IDARY EXAMINATION MARCH 2025
PART III
ACCOUNTANCY TTITH ANALYSIS OF FINANCIAL STATEMENTS
CODE NO : SY 449

80 Score 2\5IJrs
Qn. Sub Answer Key/ Value Points Scores TbtaI
No Qns Scores
I i a) Interest on partners loan 1 7

2 c) Super Profit 1 I
3 c) Is liable for obligations incurred before his retirement. 1 L

4 d) On the expiry of the term 1 1

5 Debit Liabilities and credit Revaluation 1 I
6 d) Assertion (A) is incomect But Reason (R) is comect 1 1

7 a. No L 2
b. They are not doing business in partnership because they are not
involved in doing sale and purchase of land/ plot on a regular basis,
Mere co-ownership of a property does not amount to par[rership. 1

I trnterest on capital, Partners Salary Partners commission, Share of l5x 4 2
profit etc
9 a. Increase in value of furniture L
b. Decrease in value of machinery 1 2
10. a. General Reserve A"/c Dr 60,000
To Aji's Capital 20,000 2 2
To Biji's Capital 20,000
To Saji's Capital 20,000
1,L a. lLiabilities a/c Dr L
' To Realisation a/c 2
b. Realisation or sale of assets 1

t2 a. Equally iYes 1
b. No 1. 3
c. Allowed at60/o p.aA/es L

13 Total profit = 99,000
iRaju's share of profit = 99,000x 4lg = 44,000
Rahim's share of profit = 96,000x 3/g = 33,000
Thomas's sharp of profit = 96,000x 2/9 = 22,000
Deficiency of profit = 28,000-22,000 = 6,000 L 3
Journal entry
Raju's Capital a/c Dr 4,500
Rahim's Capitil a/c Dr 1,500 2
To Thomas's Capital a/c G,000
t4 Average profit = 3,00,000
Normal profit = 12,00,000x10/100 =1,20,000 1
Super profit =3,00,000- 1,20,000 = 1,90,000 1
, goodwill = 1,80,000x100/1-0= 18,00,000 1. 3

15 1. Sacrificing Ratio, Old Ratio - New Ratio, At the time of admission 1
2. Gaining Ratio, New Ratio - Old Ratio, At ttre time of retirement or
death 1 3
3. New Ratio, Old Ratio x Rest of share, At the time of capital
adjustment 1

1,6 Average Profit = L,M,00O|4 = 36,000 1
C's Share of profit = 36,000 x3lL2 x L/3 =3,000 2 3
L7 Basis Dissolution of Dissolution of firm
partnership
Termination Business is not Business of the firm is
of business terminated closed Lx3 3
Settlement qf Assets and liabilities are Assets are sold and
assets and I revalued liabilities are paid-off.
liabilities
Court's Court does not intervene A firm can be dissolved
intervention by the court's order.
Economic Economic relationship Economic relationship
relationship benareen the partners between the partners
continues in a changed comes to an end.
form.
Closure of Does not require Books of account are
books closed.
Any 3
18 Revaluation a/c
Amount Particulars Amount
Building 10,000 Motor Vehicle 40,000
Machinery L8,000 Stock 1,0,000
Provision for debtors 1,300
5

Gokul's Capital L2,420
Gopika's Capital8.280 20,700

50,000 50,000
(One score for each correct entry maximum 5 Score)
Partners Account 6
Particular Gokul Gopika Geetha Particulan Gokul Gopika Geetha
s

Bal b/d 1,80,000 1,20,000
Cash 100000
Premium | 48,ooo 32,000
Bal c/d z44o 1642f0 100000 (clur)
Reserves 6,000 4000
Revaluation t2,420 8,280
1
246.420 164280 100000 ', 2#420i tO+ZtO, TOOOOO
1 I
As account
Particulars Amount Particulars Amount
A's executors a./c 1,04,600 Balance b/d 60,000
B's capital 13333
1 x6 6

C's capital 6667
Revaluation a/c 6,000
P&L Suspense 9,000
Int. on cap 3,600
P&L account 6,000
1,04,600 L,04,600
(1 Score for correct entry)
A's executors a/c
Particulars Amount Particulars Amount
A's Capital account 104600
Balance c/d L04600
104600 104600
20 Realisation Account
Particulars Amount Particulars iAmount
Stock 1,2,000 Creditors 40,000
Debtors 25,000 Mrs. Ravi's Loan 12,000
Furniture 30,000 Cash 1-,26,000
Machinery 50,000 Ravi's capital 15000
Investments 15,000 (investment)
6
Cash (37,000+2,000) 39,000 '%x12
,Ravi's capital (Mrs. 12,000
Ravi's loan)

Ravi ts 6000
Rahini's L0,000
L,93,000 1,93,000

(L/2 Score for each correct entry full score for correct full answer)
Part IIAFS
2L b) Demand for the shares exceeds than the number of shares issued 1 1
22 a) BothAssertion (A) and Reason (R) are conect 1 I
23 a) Secured debentures L I
24 b) Rs. 1,00,000 1 1
25 c)BandD 1 1

26 Gross profit Ratio - Profitability Ratio 1 1
27 Section 2(62) of Companies Act defines a one-person company as a 2
company that has only one person as to its member. 2
28 Machinery a/c Dr 2,00,000 L
Raj Ltd 2,00,000
Raj Ltd a/c
:

Dr 2,00,000 2
10% Debentures 2,00,000 L
29 Regular interest
Low risk 22
recoupment of investment amount etc
30 To assess the current profitability and operational efficiency of the Lx2 2
firm.
To ascertain the relative importance of different components of the

financial position of the firm.
To identify the reasons for change in the profitability/financial
position of the firm.
To judge the ability of the firm to repay its debt (any 2)
3L Investing activity - a) Dividend received, c) Purchase of machinery 1 2
Financing activity- b) Interest paid , d) Redemption of debentures 1
32 Equrty Share Capital a/c Dr 20,000
To Share forfeiture a/c 14,000 1
To Second and Final call 6,000
Bank a/c Dr 9,000
Share Forfeiture a/c Dr 6,000 L 3
To Equity Share Capital a/c L5,000

Share forfeiturL alc Dr 4,500
To Capital Reserve 4,500 1
33 Match the
A B
L Call A Demand by the company
1
2 Calls in advance B Liability 1 3
3 Calls in arrears C Asset 1

34 a. Land and building a/c Dr 10,00,000
Megha ltd 10,00,000 1
Megha Ltd a/c Dr 10,00,000
Share Capftal 10,00,000 1
b. Land and building a/c Dr 10,00,000
Megha ltd 10,00,000 3
Megha Ltd a/c Dr 10,00,000
Share Capital 8,00,000
Securities Premium Reserve A,/c 2,00,000 L
35
To provide information about economic resources and obligations of
a business 1

To provide information about the earning capacity of the business
1 3
To provide information about cash flows etc
1

36 Working Capital = Current Assets - Current Liabilities
Cunent Liabilities = 90,000/2.5 = 36,000 1 th
Current Assets = 3.5 x current liabilities 3
, = 3.5x 36,000 = 1_,26,000 1 ,5
i

37 Net Profit 5,00,000
(+) Depreciation 2,00,000 1
(-) Profit on Sale of assets 50.000
Operating Profit 6,50,000
(-) Increase in trade receivables 40.000 1 3
6,L0,000
(+) Increase in trade Payables 60.000
ii cash flow from operating activity 6,70,000 1
ii
l
(1/2 Score for each correct entry)

38 BankA/c Dr 9,000 1

To Share 9,000
Share Application A/c Dr 9,000
To Share Capital 7,500 1

To Bank ! 1,500
Share AllotmentA/c Dr 12,500
To Share Capital L0,000 1 6
To Share Promium Reserve 2,500
BankA/c Dr 1-2,500 1
To Share allgtment L2,500
Share First and final call A/c Dr 7,500 1
To Share Capital 7,500
BankA/c Dr 7,500 1
To Share Filst and final call 7,500

39 I Current Ratio = Cunent Assets / Current Liabilities L
= 35,000/17,500 = 2:l 1
ii Acid Test Ratio= QuickAssets / Curent liabilities 1 6
= 20,000/ 17,500 = I.L :L L
Ill Gross Profit Ratio operation x100 1
= :;:ffiI,,r;tiil1H'r:;from 1

40 AbsoluteAmount Percentage of
Particulars total Asset
2020 (Rs.) 2021(Rs.) 2020 202t
(o/o) (o/o)

Equity and i

I

a) Equity share capital 20,00,0001 22,00,000 i 50 M L
b) Reserves and surplus 8,00,000 L0,00,000 | 20 20 L
c) Cunent liabilities L2,oo,0o0 18,00,000 i 30 36 1
6
40,00,000 50,00,000 100 100
Total ,,
II. Assets
a) Fixed assets 2g,oo,ooo 31,,oo,ooo 70 62 1
b) Current assets 12,00,000 19,00,000 30 38 1
Total
,-5
40,00,000 50,00,000 100 100

i

Scheme Finalised by:
1. ANIK KUMAR G GHSS AYYANKOICKAL, KOLLAM 9446109708
2. JAGAI\ H GHSSKIDANGARA ALAPUZHA 9446016999
3. REJI MATIIAI GHSS KUMMIL KOLLAM 82812s6790
4. Dr. SURESH BABU P GHSS POTTASSERY PALAKKAD 9495763883
5. PAUL RAJ K PHSS VANDIPPERIYAR IDUKKI 974425284

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