Kerala Plus Two Question Paper 2022 Accountancy with AFS

Reg. No. : .....................................
Name : ..........................................
SY-49
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2022

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-49 1 P.T.O.

SECTION – I

ACCOUNTANCY
PART – I
A. Answer any 4 questions from 1 to 6. Each carries 1 score. (4  1 = 4)
1. Which of the following is not related to not-for-profit organisation ?

(a) Organised as charitable trusts or societies

(b) Profit motive

(c) Managed by executive committee

(d) Excess of income over expense is surplus

2. Partnership is the result of _____.

(a) Law (b) Registration

(c) Agreement (d) None of these

3. Goodwill is a/an _____

(a) Tangible asset (b) Intangible asset

(c) Current asset (d) None of these

4. A, B and C are partners sharing profits in the ratio of 3:2:1. B retires and new ratio
between A and C is _____.

(a) 3:2 (b) 2:1

(c) 3:1 (d) 1:2

5. If the firm is not in a position to pay the amount due to retiring partner, such amount
is transferred to _____.

(a) Partner’s Capital A/c (b) Partner’s Loan A/c

(c) Partner’s Drawings A/c (d) None of these

SY-49 2

SECTION – I

ACCOUNTANCY
PART – I
A. 1  6    4  .
1  . (4  1 = 4)
1.      ?
(a)    .
(b) 
(c)     .
(d)     .

2.   _____   .
(a)  (b) 
(c)  (d) 

3.  _____ 
(a)   (b)  
(c)  (d) 

4.       3:2:1     
.     . 
     _____ .
(a) 3:2 (b) 2:1
(c) 3:1 (d) 1:2

5.      
    _____  .
(a)    (b)   
(c)    (d) 

SY-49 3 P.T.O.

6. On dissolution of firm, sundry creditors is transferred to _____

(a) Partner’s Capital A/c (b) Bank A/c

(c) Cash A/c (d) Realisation A/c

B. Answer all questions from 7 to 9. Each carries 1 score. (3  1 = 3)
7. Donations received for the construction of building is shown on _____.

(a) Asset side of Balance Sheet

(b) Liabilities side of Balance Sheet

(c) Income side of Income & Expenditure A/c

(d) Expenditure side of Income & Expenditure A/c

8. When a new partner with a guaranteed amount of profit is admitted in a firm, such
assurance may be given by _____.

(a) New partner (b) Old partners

(c) All partners (d) None of these

9. On retirement of a partner, the retiring partner’s capital account will be credited with
_____.

(a) His share of goodwill

(b) Goodwill of the firm

(c) Share of goodwill of remaining partners

(d) None of these

PART – II

A. Answer the following question. Carries 2 scores. (1  2 = 2)
10. Write any two differences between Income and Expenditure Account and Receipts
and Payments Account.

SY-49 4

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

B. 7  9    . 1  .

(1  3 = 3)
7.     _____  .
(a)    
(b)    
(c)     
(d)     

8.       
, _____    .
(a)   (b)  
(c)   (d) 

9.       
 _____  .
(a)   
(b)  
(c)    
(d) 

PART – II
A.    . 2 . (1  2 = 2)

10.        
   .

SY-49 5 P.T.O.

B. Answer any 1 question from 11 to 12. Each carries 2 scores. (1  2 = 2)

11. Write the two rights acquired by an incoming partner in a firm.

12. How the private property of a partner is utilised at the time of dissolution of a firm ?

PART – III

A. Answer any 3 questions from 13 to 16. Each carries 3 scores. (3  3 = 9)

13. Show the following information in the financial statements of a club :

Tournament expenses ` 24,000

Tournament Fund ` 30,000

Donation for Tournament ` 15,000

14. Compute the value of goodwill on the basis of two years purchase of the average
profits of last five years. Profits for the last five years were :

Year 2017 2018 2019 2020 2021

Profits (`) 20000 25000 30000 25000 30000

15. Shameer withdrew the following amounts from his firm for personal use during the
year ended 31st March 2021. Calculate interest on drawings at 6% p.a.
Date Amount (`)

May 1, 2020 15,000

July 31, 2020 20,000

Oct. 1, 2020 18,000

Jan 1, 2021 22,000

SY-49 6

B. 11  12    1  .
2 . (1  2 = 2)
11.        
 .

12.        
   ?

PART – III
A. 13  16    3  .
3  . (3  3 = 9)
13.        
 :
  ` 24,000
  ` 30,000
  ` 15,000

14.       2 
     .
    :
 2017 2018 2019 2020 2021
 (`) 20,000 25,000 30,000 25,000 30,000

15. 2021  31      
      
   . 6%   
.
  (`)
 1, 2020 15,000
 31, 2020 20,000
 1, 2020 18,000
 1, 2021 22,000

SY-49 7 P.T.O.

16. Write the differences between dissolution of firm and dissolution of partnership.

B. Answer the following question. Carries 3 scores. (1  3 = 3)
17. Rana brothers earn an average profits of ` 60,000 with a capital of ` 4,00,000. The
normal rate of return in the business is 10%. Calculate the value of goodwill under
capitalization of super profit method.

PART – IV
A. Answer any 2 questions from 18 to 20. Each carries 4 scores. (2  4 = 8)
18. What are the differences between fixed capital method and fluctuating capital
method ?

19. Jithu and Muthu are partners in a firm sharing profits and loss in the ratio of 3:2. They
admit Rithu into partnership and the new profit sharing ratio will be 2:1:1. Rithu
brings in ` 60,000 for capital and required amount of premium in cash. The goodwill
of the firm is valued at ` 80,000. Jithu and Muthu withdraw their share of goodwill.
Give necessary journal entries.

20. Sunil, a partner in a firm retired on 1st April 2020. He is entitled to
(a) His share of capital ` 75,000.
(b) His share of goodwill is 1/4 share. Goodwill of the firm was valued at ` 60,000.
(c) He withdraw ` 10,000 during the year from the firm.
(d) Interest on capital at 8% p.a.
Prepare Sunil’s Capital A/c.

B. Answer any 1 question from 21 to 22. Carries 4 scores. (1  4 = 4)
21. From the following information, calculate the amount of stationery to be debited to
Income and Expenditure A/c. for the year ended 31st March, 2021.
Stationery purchased during the year ` 25,000.
Stock of stationery (1st April, 2020) ` 14,000.
Stock of stationery (31st March 2021) ` 12,000.

SY-49 8

16.       
 .

B.    . 3 . (1  3 = 3)
17. 4,00,000     60,000   
.     10% . 
      
.

PART – IV
A. 18  20    2  .
4  . (2  4 = 8)
18.        
 ?

19. 3:2   -   
.      
  2:1:1  .  60,000  
    . 
 80,000  .   
  .    .

20.      2020  1 
.  .
(a)   ` 75,000.
(b)    1/4 .   60,000
 .
(c)   10,000    .
(d)    8%  .
   .

B. 21  22    1  .
4 . (1  4 = 4)
21.     2021  31  
       
.
   ` 25,000.
  (2020  1) ` 14,000.
  (2020  31) ` 12,000.
SY-49 9 P.T.O.

22. Anju and Manju are partners in a firm sharing profits and losses in the ratio of 3:2.
Sanju is admitted as to partnership. The new profit sharing ratio will be 2:1:2. Sanju
brings in ` 20,000 as his capital, but not in a position to bring any amount for his
share of goodwill. Goodwill of the firm was valued at ` 60,000. Give necessary
journal entries, if there is no goodwill appearing in the books of the firm.

PART – V

A. Answer any 1 question from 23 to 24. Carries 5 scores. (1  5 = 5)
23. The Receipts and Payments Account of Nelhaji Club is given below.
Receipts and Payments A/c for the year ended 31 st March 2020.

Receipts Amount (`) Payments Amount (`)

Balance c/d Books 8,000

Cash in hand 12,000 Investment 25,000

Cash at bank 21,000 Postage 1,800

Subscriptions 42,000 Salaries 7,000

Donations 13,000 Rent 4,000

Legacies 14,000 Printing 3,600

Safe of old news- Advertisement 5,000
paper 2,400

Interest 3,000 Furniture 35,000

Entrance fee 2,100 Balance b/d

Cash in hand 6,500

Cash at bank 13,600

1,09,500 1,09,500

SY-49 10

22. 3:2       
 .    . 
   2:1:2 .  20,000   
     
.   60,000  
     
   .

PART – V
A. 23  24    1  .
5 . (1  5 = 5)
23.       
.
2020  31      


   (`)    (`)
 /  8,000
   12,000  25,000
  21,000  1,800
 42,000  7,000
 13,000  4,000
 14,000  3,600
  2,400  5,000
 3,000  35,000
  2,100  /
  6,500
  13,600

1,09,500 1,09,500
SY-49 11 P.T.O.

Additional information :

(a) Salaries outstanding ` 1,000.

(b) Rent prepaid ` 500.

(c) Subscription outstanding on 1st April 2019, ` 1200 and on 31st March 2020,
` 2500.

Prepare Income and Expenditure A/c for the year ended 31 st March 2020.

24. Anu and Bindu are partners in a firm sharing profits in the ratio of 2:1. Chandana is
admitted into the firm with 1/4 share of profit.

Balance Sheet as on 31st March 2021
Liabilities Amount (`) Assets Amount (`)

Creditors 16,000 Cash in hand 4,000

Bills payable 8,000 Cash at bank 20,000

General Reserve 12,000 Sundry debtors 16,000

Bank Overdraft 4,000 Stock 20,000

Capital Furniture 10,000

Anu 1,00,000 Machinery 50,000

Bindu 60,000 1,60,000 Building 80,000

2,00,000 2,00,000

At the time of admission of Chandana, Assets are revalued as :

(a) Stock ` 18,000, Building ` 90,000, Furniture ` 9,200 and Machinery ` 52,000.

(b) Provision for doubtful debts is to be created at 5% on debtors.

Prepare Revaluation A/c.

SY-49 12

  :
(a)   ` 1,000.
(b)    ` 500.
(c)   2019  1 ` 1200
2020  31 – ` 2500.
2020  31      
.

24. 2:1       
 . 1/4     
.
2021  31  

  (`)   (`)
 16,000   4,000
  8,000   20,000
  12,000   16,000
  4,000  20,000
  10,000
 1,00,000  50,000
 60,000 1,60,000  80,000

2,00,000 2,00,000
       
  :
(a)  ` 18,000,  ` 90,000,  ` 9,200, 
` 52,000.
(b)  5%    
.
  .

SY-49 13 P.T.O.

SECTION – II
ANALYSIS OF FINANCIAL STATEMENTS

PART – VI
A. Answer any 4 questions from 25 to 30. Each carries 1 score. (4  1 = 4)
25. Which of the following is not a feature of a company ?
(a) Body corporate (b) Separate legal entity
(c) Unlimited liability (d) Perpetual succession

26. A company issued 10000 equity shares of ` 10 each to the public and they received
applications for 15000 equity shares. This situation is called _____.
(a) Minimum Subscription (b) Over Subscription
(c) Under Subscription (d) None of these

27. Shares of a public company are _____.
(a) Not freely transferable
(b) Freely transferable
(c) Transferable with the consent of other members
(d) None of these

28. Debentures which have created a charge on the assets of the company are called
_____.
(a) Secured debentures (b) Unsecured debentures
(c) Redeemable debentures (d) Convertible debentures

29. Commonsize analysis is also known as _____
(a) Horizontal (b) Vertical
(c) Normal (d) None of these

SY-49 14

SECTION – II
ANALYSIS OF FINANCIAL STATEMENTS

PART – VI
A. 25  30    4  .
1  . (4  1 = 4)
25.     ?
(a)  
(b)   
(c)  
(d)  

26.   10   10000    
  15000    
 _____  .
(a)   (b)  
(c)   (d) 

27.    _____.
(a)   .
(b)   .
(c)     .
(d) 

28.       
_____  .
(a)   (b)  
(c)   (d)  

29.   _____ .
(a)  (b) 
(c)  (d) 

SY-49 15 P.T.O.

30. Balance Sheet provides information about the financial position of a business
organisation _____

(a) Over a period of time (b) At a point of time

(c) For a period of time (d) None of these

B. Answer all questions from 31 to 33. Each carries 1 score. (3  1 = 3)

31. Fill in the blanks :
Total Assets
Total Assets to Debt Ratio =
?

(a) Short term debt (b) Long term debt

(c) Total debts (d) None of these

32. _____ analyse cost of operations in relation to revenue from operations.

(a) Operating profit ratio (b) Operating ratio

(c) Gross profit ratio (d) Net profit ratio

33. Which of the following is not a cash outflow from operating activities ?

(a) Cash payment to suppliers of goods

(b) Cash payment to employees

(c) Cash payment to acquire fixed assets

(d) Cash payment to insurance premium

PART – VII

A. Answer the following question. Carries 2 scores. (1  2 = 2)

34. Write a short note about unlimited company.

SY-49 16

30.    _____    
 .
(a)   (b)   
(c)   (d) 

B. 31  33    . 1  .

(3  1 = 3)
31.    :
 
    = ?
(a)   (b)  
(c)   (d) 

32. _____     
 .
(a)    (b)  
(c)    (d)   

33.      
.
(a)    .
(b)   
(c)    
(d)     .

PART – VII
A.    . 2 . (1  2 = 2)

34.       .

SY-49 17 P.T.O.

B. Answer any 1 question from 35 to 36. Carries 2 scores. (1  2 = 2)

35. A company registered with 10000 equity shares of ` 10 each, offered 9000 equity
shares to the public. But the company received applications for 8500 shares. Show the
amount of authorised capital and subscribed capital in the Balance Sheet.

36. Shareholders fund includes share capital and _____ and _____.

PART – VIII

A. Answer any 3 questions from 37 to 40. Each carries 3 scores. (3  3 = 9)

37. Write the features of a private company.

38. Ramesh a shareholder having 500 shares of ` 10 each did not pay the allotment
money of ` 4 per share (including premium of ` 2/-) and the first and final call of
` 3/-. His shares were forfeited after the first and final call. Give journal entries for the
forfeiture of shares.

39. Write any three differences between shares and debentures.

40. Write any three limitations of cash flow statement.

B. Answer the following question. Carries 3 scores. (1  3 = 3)

41. ABC Ltd. purchased a machinery from XYZ Ltd. for ` 4,40,000 and agreed to make
the payment of purchase consideration by issuing 4000, 9% Debentures of ` 100 each
at a premium of 10%.

Pass journal entries in the books of ABC Ltd.

SY-49 18

B. 35  36    1  .
2 . (1  2 = 2)

35. 10   10000      9000
   .  
8500   .   
  .

36.      _____  _____  .

PART – VIII
A. 37  40    3  .
3  . (3  3 = 9)

37.    .

38. 10   500    2   
 4 ,   3  
.     
 .    
 .

39.       .

40.       .

B.    . 3 . (1  3 = 3)

41. ...  4,40,000     ...
     100   9%
 10%   4000   .
...     .

SY-49 19 P.T.O.

PART – IX

A. Answer any 2 questions from 42 to 44. Each carries 4 scores. (2  4 = 8)

42. Quilon Ltd. issued 20000, 7% Debentures of ` 100 each payable ` 40 on application
and balance on allotment. The public applied for 18000 debentures which were fully
allotted and the amount was duly received. Give journal entries in the books of Quilon
Ltd.

43. Write any four objectives of financial statement.

44. From the following information prepare a commonsize Income Statement for the year
ended 31st March 2020, 31st March 2021.

Particulars 2020-21 2019-20

Revenue from operations 9,00,000 12,50,000

Cost of goods sold 5,00,000 6,00,000

Operating expenses 40,000 60,000

Non-operating expenses 6000 7,500

Depreciation 10,000 20,000

Wages 5,000 10,000

B. Answer any 1 question from 45 and 46. Carries 4 scores. (1  4 = 4)

45. Monalisa Ltd. issued 20000 shares of ` 10 each to the public. All the shares were fully
subscribed. The amount on shares were payable as ` 30 on application, ` 40 on
allotment and ` 30 on first call. Company does not made first call. One shareholder
having 100 shares paid first call money at the time of allotment. Pass Journal entries.

46. Write any four importance of Analysis of Financial Statements.

SY-49 20

PART – IX
A. 42  44    2  .
4  . (2  4 = 8)
42. 40       
   100   20000, 7% 
. 18000     
 .    .  
   .

43.      .

44.     2020  31  2021 
31      
.
 2020-21 2019-20
 9,00,000 12,50,000
 
  5,00,000 6,00,000
 
  40,000 60,000
  6000 7,500
 10,000 20,000
 5,000 10,000

B. 45  46    1  .
4 . (1  4 = 4)
45.   10   20000  
 .   30 ,
  40    30   
.    . 100    
     .   .

46.      
.

SY-49 21 P.T.O.

PART – X

Answer any 1 question from 47 to 48. Carries 5 scores. (1  5 = 5)
47. Royal Ltd. issued 10000 equity shares of ` 10 each payable as ` 2 on application,
` 2 on allotment, ` 2 on first call, ` 2 on second call and ` 2 on final call. Company
received applications, all the shares issued and amount were duly received. Pass
journal entries.

48. Calculate Current Ratio and Quick Ratio from the following information :
Particulars Amount (`)

Inventories 25,000
Trade receivables 25,000
Advance Tax 2,000
Cash and Cash equivalents 15,000
Trade payables 50,000
Bank overdraft 2,000

__________

SY-49 22

PART – X
47  48    1  .
5 . (1  5 = 5)
47. 2   , 2   , 2    , 2
  , 2      
   10   10,000  
  .   
   .   
.   .

48.        
  :
Particulars Amount (`)
 25,000

 25,000

  2,000

  15,000

  50,000

  2,000

__________

SY-49 23 P.T.O.

SY-49 24