Kerala Plus Two Question Paper 2024 Accountancy with AFS

Kerala Board

Question Paper
2024

Reg. No. : ......................................
SY-549 Name : ...........................................

SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH – 2024

Part – III
ACCOUNTANCY WITH ANALYSIS OF FINANCIAL STATEMENTS
Maximum : 80 Scores
Time : 2½ Hours
Cool-off time : 15 Minutes

General Instructions to Candidates :
 There is a ‘Cool-off time’ of 15 minutes in addition to the writing time.
 Use the ‘Cool-off time’ to get familiar with questions and to plan your answers.
 Read questions carefully before answering.
 Read the instructions carefully.
 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.

  :
    15  ‘  ’ .
 ‘  ’    
 .
      .
    .
  , , ,   
.
   .
    .
     
    .

SY-549 1 P.T.O.

PART – I
(ACCOUNTANCY) (40 Scores)
I. Answer any 5 questions from 1 to 6. Each carries 1 score. (5  1 = 5)
1. The ratio in which the old partners share the premium for goodwill brought in by the
new partner is called _________.
(a) Old ratio (b) New Ratio
(c) Sacrificing Ratio (d) Gaining Ratio

2. At the time of admission of a partner, general reserve appearing in the old balance
sheet is transferred to ______.
(a) Old Partner’s Capital A/c (b) All Partners’ Capital A/c
(c) New Partner’s Capital A/c (d) None of these

3. A, B and C are partners who share profits in the ratio of 3 : 2 : 1. B retired from the
firm. The new ratio is ______.
(a) 3:2 (b) 3:1
(c) 2:1 (d) None of these

4. Complete the journal entry
_________ A/c Dr.
To Deceased Partner’s Capital A/c
(Profit up to the date of death is transferred to capital account)

5. On dissolution of a partnership firm, if a partner takes over an asset, ______ account
is debited.
(a) Cash A/c (b) Realisation A/c
(c) Partner’s Capital A/c (d) None of these

6. On dissolution of a firm, bank overdraft is transferred to _____ A/c.
(a) Cash A/c (b) Bank A/c
(c) Realisation A/c (d) Partner’s Capital A/c
SY-549 2

PART – I
(ACCOUNTANCY) (40 Scores)
I. 1  6    5  .
1  . (5  1 = 5)
1.       
 _________  .
(a)   (b)  
(c)  (d) 

2.        
______  .
(a)    
(b)    
(c)    
(d) 

3. A, B, C  .   3 : 2 : 1 . B
  .   ______ 
(a) 3:2 (b) 3:1
(c) 2:1 (d) 

4.   
_________ A/c Dr.
To    .
(Profit up to the date of death is transferred to capital account)

5.    ,    
 ______   .
(a)   (b)  
(c)    (d) 

6.    ,   _____
 .
(a)   (b)  
(c)   (d)   

SY-549 3 P.T.O.

II. Answer all questions from 7 to 10. Each carries 2 scores. (4  2 = 8)
7. Give any two circumstances under which the fixed capitals of partners may change.

8. List out any 4 factors affecting the value of goodwill.

9. Jaya and Lalitha are partners sharing profits in the ratio of 3 : 2. They admitted Janaki
as a new partner. The new ratio is 3 : 2 : 1. Calculate sacrificing ratio.

10. Give any 2 differences between dissolution of partnership and dissolution of firm.

III. Answer any 3 questions from 11 to 14. Each carries 3 scores. (3  3 = 9)
11. Anu and Manu are partners. Anu draws ` 5,000 on the 1st day of every month and
Manu draws ` 10,000 on the last day of every month. Calculate interest on drawings
@ 6% p.a.

12. The amount of capital employed by a firm is ` 10,00,000 and the profits of the firm for
the last 5 years were ` 80,000, ` 1,00,000, ` 1,10,000, ` 1,40,000 and ` 1,70,000
respectively. The normal rate of return is 10%.
Calculate the value of goodwill at 3 years purchase of super profits.

13. Differentiate between sacrificing ratio and gaining ratio.

14. Journalise the following transactions at the time of dissolution of a firm.
(a) Realisation expenses ` 3,000
(b) Unrecorded assets realized ` 5,000
(c) Furniture A/c transferred to Realisation A/c ` 10,000

IV. Answer all questions from 15 to 16. Each carries 5 scores. (2  5 = 10)
15. Amar, Akbar and Antony are partners. On 31st December, 2010 Antony retired. On the
date of retirement, his capital account showed a credit balance of ` 6,00,000. It was
agreed that the amount will be paid in 5 equal yearly installments together with interest
at 10% p.a.
Prepare Antony’s Loan A/c.
SY-549 4

II. 7  10    . 2  . (4  2 = 8)
7.      
 .

8.     4  .

9.   .  3 : 2   .
  .    3 : 2 : 1
,  .

10.      
  2  .

III. 11  14    3  .
3  . (3  3 = 9)
11.   .     5,000 
,     10,000  
.  6%    
 .
12.     10,00,000 .  5
     80,000 , 1,00,000 , 1,10,000
, 1,40,000 , 1,70,000 .    
 10% .
  3     
 .
13.    .
14.       
   .
(a)   ` 3,000.
(b)     ` 5,000.
(c)      ` 10,000.

IV. 15  16    . 5  . (2  5 = 10)
15. , ,   . 2010 -31 
  .   
  6,00,000    .   5 
    . 
 10%   .
   .

SY-549 5 P.T.O.

16. The partnership agreement of Asha and Nisha provides that
(a) Profit will be shared equally.
(b) Asha will be allowed a salary of ` 5,000 p.m.
(c) 6% interest will be allowed on capital.
During the year 2011, Nisha earned a commission of ` 10,000. The net profit for
the year before the yearly adjustments were ` 4,00,000.
On 1st January, 2011 the capital accounts of Asha and Nisha showed a credit
balance of ` 3,00,000 and ` 2,00,000 respectively.
Prepare Profit and Loss Appropriation A/c.

V. Answer any 1 question from 17 to 18. Carries 8 scores. (1  8 = 8)
17. Following is the Balance Sheet of Amal and Bimal who share profits in the ratio of
2 : 1, on 31st March, 2020 :
Balance Sheet
As on 31st March, 2020
Amount Amount
Liabilities Assets
(`) (`)
Creditors 61,000 Cash in hand 50,000
Reserve 9,000 Debtors 60,000
Capitals : Stock 40,000
Amal 1,80,000 Plant & Machinery 1,00,000
Bimal 1,50,000 Building 1,50,000
4,00,000 4,00,000

Kamal is admitted as a partner on the date of Balance Sheet on the following terms :
(a) Kamal will bring in ` 1,20,000 as his capital and ` 90,000 as his share of
goodwill for 1/4 share in profits.
(b) Plant is to be appreciated to ` 1,20,000 and building appreciated by 10%.
(c) Stock is found overvalued by ` 3,000.
(d) A provision of 5% is to be created on debtors for bad debts.
Prepare Revaluation Account, Capital Accounts and the new Balance Sheet of the firm.
SY-549 6

16.      –
(a)   
(b)   5,000   
(c)   6%  .
2011     10,000  .   
   4,00,000 .
2011  1     
 3,00,000 , 2,00,000     .
     .

V. 17  18    1  .
8 . (1  8 = 8)
17. ,    2020  31- 
.    2 : 1  :

2020  31 
 
 
(`) (`)
 61,000    50,000
  9,000  60,000
 :  40,000
 1,80,000  &  1,00,000
 1,50,000  1,50,000
4,00,000 4,00,000
  ,   
 -    :
(a)  1,20,000   90,000   
.   1/4  .
(b)   1,20,000    10%  .
(c)   3,000   .
(d)  5%   .
 ,   ,  
 .

SY-549 7 P.T.O.

18. Ajay and Vijay were partners sharing profits in the ratio of 3 : 2. Their Balance Sheet as
on 31st December, 2015 was as follows :

Balance Sheet

Amount Amount
Liabilities Assets
(`) (`)

Creditors 38,000 Bank 19,000

Reserve 25,000 Stock 6,000

Capitals : Debtors 19,000

Ajay 12,000 Furniture 4,000

Vijay 11,000 Plant 28,000

Investments 10,000

86,000 86,000

The firm dissolved on the following terms :

(a) Ajay to take investments at ` 8,000.

(b) Other assets realized as follows :

(`)

Stock 5,000

Debtors 18,500

Furniture 4,500

Plant 25,000

(c) Realisation expenses amounted ` 2,000.

(d) Creditors agreed to accept ` 35,000 in full settlement.

Prepare Realisation Account, Partners’ Capital Account and Bank Account.

SY-549 8

18. ,   3 : 2    .
 2015  31-     :

 
 
(`) (`)

 38,000  19,000

  25,000  6,000

 :  19,000

 12,000  4,000

 11,000  28,000

 10,000

86,000 86,000

    :

(a)   8,000  .

(b)      :

(`)
 5,000

 18,500

 4,500

 25,000

(c)   2,000 .

(d)  35,000    .

 ,   ,  
 .
SY-549 9 P.T.O.

PART – II

(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)

VI. Answer any 5 questions from 19 to 24. Each carries 1 score. (5  1 = 5)
19. Equity share holders are
(a) Creditors (b) Owners of the company
(c) Customers (d) None of these

20. The loss on re-issue of forfeited shares is debited to
(a) General Reserve (b) Capital Reserve
(c) Forfeited shares A/c (d) None of these

21. Cash payment to suppliers result in ______.
(a) Cash inflow (b) Cash outflow
(c) Both inflow and outflow of cash (d) None of these

22. Debentures which are transferable by mere delivery are
(a) Registered debentures (b) Bearer debentures
(c) Convertible debentures (d) Redeemable debentures

23. In the Balance Sheet of a company, Reserves & Surplus is shown under the heading
______.
(a) Current Liabilities (b) Non-current Liabilities
(c) Shareholders Fund (d) None of these

24. Comparative analysis is also known as _____ analysis.
(a) Horizontal Analysis (b) Vertical Analysis
(c) Ratio Analysis (d) Cash Flow Analysis

VII. Answer all questions from 25 to 28. Each carries 2 scores. (4  2 = 8)
25. State any two differences between shares and debentures.

26. State any 2 limitations of Financial Analysis.
SY-549 10

PART – II

(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)

VI. 19  24    5  .
1  . (5  1 = 5)
19.     ______ .
(a)  (b) 
(c)  (d) 

20.      
 ________  .
(a)   (b)  
(c)   (d) 

21.    ______ .
(a)   
(b)   
(c)   
(d) 

22.      
_______  .
(a)   (b)  
(c)   (d)  

23.    ‘ &  ’ ______  
 .
(a)   (b)  
(c)   (d) 

24.   _____  .
(a)   (b)  
(c)   (d)   

VII. 25  28    . 2  . (4  2 = 8)
25.     2  .

26.    2  .

SY-549 11 P.T.O.

27. From the following information, calculate inventory turnover ratio :
Revenue from operation – ` 8,00,000
Average Inventory – ` 1,10,000
Gross Profit Ratio – 10%

28. Mention 2 cash inflows from financing activities.

VIII. Answer any 3 questions from 29 to 32. Each carries 3 scores. (3  3 = 9)
29. Alpha Ltd. purchased a plant from Omega Ltd. for ` 2,70,000 and the payment was
made by the issue of equity shares of ` 100 each at a premium of 20%.
Pass Journal entries for above.

30. A company forfeited 1000 shares of ` 10 due to the non-payment of second and final
call money of ` 2. Later these shares were re-issued by the company at ` 9.
Pass entries for forfeiture and re-issue.

31. State any 3 objectives of financial statements.

32. From the following information, calculate cash flows from financing activities :
1-4-2020 31-3-2021
(`) (`)
Long term loans 4,00,000 5,00,000
During the year, the company repaid a loan of ` 2,00,000.

IX. Answer all questions from 33 to 34. Each carries 5 scores. (2  5 = 10)
33. Journalise the following :
(i) A debenture issued at ` 100,
Repayable at ` 100
(ii) A debenture issued at ` 95,
Repayable at ` 105

SY-549 12

27.   ,    
 :
   – ` 8,00,000
  – ` 1,10,000
   – 10%

28.    2   .

VIII. 29  32    3  .
3  . (3  3 = 9)
29.   2,70,000       
.  100     20% 
.
    .

30.  , 2    &    
 10   1000  .  
 9     .
 -   .

31.    3  .

32.   ,   
   :
1-4-2020 31-3-2021
(`) (`)
   4,00,000 5,00,000
   2,00,000    .

IX. 33  34    . 5  .
(2  5 = 10)
33.     :
(i)   100 
  100    .
(ii)   95    105  
 .

SY-549 13 P.T.O.

34. From the following, prepare comparative statement of profit and loss for the year
ended March 31, 2018 and 2019.
Particulars 2017-18 2018-19
Revenue from operation ` 8,00,000 ` 10,00,000
Employee benefit expenses ` 4,00,000 ` 5,00,000
Other Expenses ` 1,00,000 ` 50,000
Tax Rate 40% 50%

X. Answer any 1 question from 35 to 36. Carries 8 scores. (1  8 = 8)
35. Sun Ltd. issued 1,00,000 equity shares of ` 10 each payable as follows :
(`)
On Application – 3
On allotment – 3
On 1st Call – 2
nd
On 2 & Final call – 2
The company made all the calls and all the amounts were duly received except second
and final call money on 1,000 shares.
Pass journal entries.

36. From the following, calculate :
(i) Current Ratio
(ii) Liquid Ratio
(iii) Operating Ratio
(iv) Gross Profit Ratio
(`)
Current Assets – 70,000
Current Liabilities – 35,000
Inventory – 30,000
Operating Expenses – 40,000
Revenue from operation – 1,20,000
Cost of revenue from operation – 60,000

____________

SY-549 14

34.  , 2018, 2019  ( 31
)    .
 2017-18 2018-19
   ` 8,00,000 ` 10,00,000
  ` 4,00,000 ` 5,00,000
  ` 1,00,000 ` 50,000
  40% 50%

X. 35  36    1  .
8 . (1  8 = 8)
35.   10   1,00,000   
   :

  – 3
  – 3
   – 2
 &    – 2
    1,000   & 
     .
    .

36.     :
(i)  
(ii)  
(iii)  
(iv)   
  :
(`)
  – 70,000
  – 35,000
 – 30,000
  – 40,000
  – 1,20,000
 – 60,000

____________

SY-549 15 P.T.O.

SY-549 16

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