Kerala Plus One Question Paper 2023 Accountancy with AFS

FIRST YEAR

Kerala Board
Question Paper
2023

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FY-449
FIRST YEAR HIGHER SECONDARY EXAMINATION, MARCH 2023

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

FY-449 1 P.T.O.

I. Answer any 8 questions from 1 to 10. Each carries 1 score. (8  1 = 8)
1. Amount withdrawn by the owner from the business for personal purpose.
(a) Drawings (b) Purchase
(c) Loan (d) Expenses

2. Accounting information should be free from bias.
(a) Dual aspect (b) Objectivity
(c) Conservatism (d) Entity

3. Identify the incorrect equation.
(a) Asset = Capital + Liabilities (b) Capital = Asset – Liabilities
(c) Liabilities = Asset – Capital (d) Capital = Asset + Liabilities

4. Fill in the blanks as per hint :
Hint : Salary paid.
_______ a/c Dr.
To Cash
(a) Salary (b) Bank
(c) Purchase (d) Sales

5. All credit purchases are recorded in _______.
(a) Sales Book (b) Purchase Book
(c) Journal proper (d) Sales returns book

6. A Bank Reconciliation statement prepared by
(a) Depositor (b) Banker
(c) Supplier (d) Cashier

FY-449 2

I. 1  10    8  .
1  . (8  1 = 8)

1.        
 –
(a)  (b) 
(c)  (d) 

2.     .
(a)   (b)  
(c)   (d) 

3.   .
(a)  =  + 
(b)  =  – 
(c)  =  – 
(d)  =  + 

4.     :
 :  
_______ a/c Dr.
To  a/c
(a)  (b) 
(c)  (d) 

5.     _______.
(a)   (b)  
(c)   (d)   

6.      
(a)  (b) 
(c)  (d) 

FY-449 3 P.T.O.

7. Depreciation is charged on _______ .
(a) Mines (b) Stock
(c) Land & Building (d) Trademark

8. Net sales – cost of goods sold = ?
(a) Gross profit (b) Net profit
(c) Total profit (d) Net loss

9. Find the odd one.
(a) Freight (b) Wages
(c) Carriage inward (d) Salary

10. If closing stock is given in Trial Balance, it should be shown in the _______ .
(a) Trading A/c (b) Profit & Loss A/c
(c) Asset side of balance sheet (d) Liability side of balance sheet

II. Answer any 5 questions from 11 to 16. Each carries 2 scores. (5  2 = 10)
11. Identify the internal users and external users of accounting information :
Management, Investors, Owners, Government

12. Complete the table as per the hint :
Hint : Income increase : Credit
(a) Asset increase : ?
(b) Expenses decrease : ?

13. Write a short note on contra entry.

14. Rectify the mistakes :
Purchase of machinery of ` 50,000 from Syama has been entered in the purchase
book.

FY-449 4

7.   _______ .
(a)  (b) 
(c)  &  (d)  

8.   –     = ?
(a)   (b)  
(c)   (d)  

9.  .
(a)   (b) 
(c)   (d) 

10.     ,  
_______ .
(a)  
(b) - 
(c)    
(d)    

II. 11  16    5  .
2  . (5  2 = 10)
11.     
 :
,  , , 

12.     :
 :   : 
(a)   :?
(b)   :?

13.       .

14.   :
  50,000     
.
FY-449 5 P.T.O.

15. Classify the following assets into current assets and non-current assets :

(a) Cash in hand

(b) Debtors

(c) Furniture

(d) Patent

16. Explain Balance sheet.

III. Answer any 5 questions from 17 to 22. Each carries 3 scores. (5  3 = 15)

17. List out any 3 objectives of accounting.

18. Write a note on business entity concept and money measurement concept.

19. Explain the objectives of trial balance.

20. Write any 3 differences between Reserves and provision.

21. What are the adjustment entries for the following ?

(a) Salary outstanding

(b) Depreciation of plant

(c) Commission received in advance

22. How to treat the items given in the trial balance ?

(a) Accrued income (Debit)

(b) Depreciation (Debit)

(c) Interest on capital (Debit)
FY-449 6

15.    , 
   :
(a)  
(b) 
(c) 
(d) 

16.    .

III. 17  22    5  .
3  . (5  3 = 15)

17.   3  .

18.     
   .

19.    .

20.       3 
.

21.      .
(a)  
(b)   
(c)   

22.       ?
(a)   ()
(b)  ()
(c)   ()
FY-449 7 P.T.O.

IV. Answer any 4 questions from 23 to 27. Each carries 4 scores. (4  4 = 16)
23. Explain the qualitative characteristic of accounting information.

24. Write any four reasons which leads to disagreement between balances shown by the
cashbook and passbook.

25. Prepare Trial balance from the following ledger balances :
Cash at bank 1,50,000
Sales 74,500
Capital 2,00,000
Sales return 1,000
Land & Building 1,35,000
Salary paid 5,000
Bank O/D 15,000
Commission received 1,500

26. Calculate cost of goods sold and Gross Profit for the year ended 2022 :
Sales 10,00,000
Purchases 7,50,000
Wages 50,000
Opening stock 3,00,000
Closing stock 2,00,000

27. An extract from the Trial balance as on 31.3.2022 is given below :
Debtors ` 50,000
Bad debts ` 3,000
Additional Information :
Further bad debts ` 1,000
Show the treatment of bad debts and debtor in the financial statement.
FY-449 8

IV. 23  27    4  .
4  . (4  4 = 16)
23.    
.

24.  ,     
 4  .

25.      
  :
  1,50,000
 74,500
 2,00,000
  1,000
 &  1,35,000
  5,000
  15,000
  1,500

26. 2022 ,     
  :
 10,00,000
 7,50,000
 50,000
  3,00,000
  2,00,000

27. 31.3.2022        :
 ` 50,000
  ` 3,000
  :
  ` 1,000
     .
FY-449 9 P.T.O.

V. Answer any 3 questions from 28 to 31. Each carries 5 scores. (3  5 = 15)
28. Match the following :

A B
(a) Owner is treated as a creditor (i) Full disclosure
(b) Life of business is indefinite (ii) Conservatism
(c) Provide for all anticipated losses (iii) Business entity
(d) All facts should be disclosed in books of accounts (iv) Duality
(e) Capital = Asset – Liability (v) Going concern

29. Prepare sale day-book from the following information :
1.3.2022 Sold to Shaji
10 Tables @ 5000 per table
4.3.2022 Sold to Raju
8 computer table @ 3000 per table
6.3.2022 Sold to Sreeja
5 Dining table @ 6500 per table
10.3.2022 Sold to Syamala
10 Wooden chair @ 5000 per chair
20.3.2022 Sold to Remya
3 Dressing table @ 4500 per table.

30. From the following particulars of Mr. Vysakh, prepare Bank Reconciliation statement
on 31-12-2022.
(a) Balance as per cashbook of ` 25,000.
(b) Cheque issued but not presented for payment ` 5,000.
(c) Bank charges of ` 750 were not entered in the cashbook.
(d) Cheque deposited but not collected by the bank of ` 1,000.
(e) Interest credited by the bank but not entered in the cashbook ` 500.

FY-449 10

V. 28  31    3  .
5  . (3  5 = 15)
28.   :
A B
(a)   . (i)  
(b)    (ii) 
(c)     (iii)  

(d)     (iv) 
.
(e)  =  –  (v)  

29.         :
1.3.2022   5,000  
10   
4.3.2022   3,000  
8    
6.3.2022   6,500  
5    .
10.3.2022   5,000  
10   .
20.3.2022   4,500  
3    .

30. 31-12-2022    Mr.    
.
(a)     25,000 
(b)     5,000 .
(c)   750    .
(d) 1000       .
(e)    500    
.

FY-449 11 P.T.O.

31. M/s Indulekha purchased a plant for ` 2,00,000 on 1-1-2018 and spent ` 50,000 for its
installation. It is estimated that its working life is 10 years.

The Salvage value is ` 10,000.

Give plant a/c for the first 5 years under straight line method of depreciation.

VI. Answer any 2 questions from 32 to 34. Each carries 8 scores. (2  8 = 16)

32. Prepare a petty cashbook under imprest system.

2023

Jan., 1 Cash received from main cashier ` 5,000

Jan., 3 Purchased stationery 400

Jan., 4 Paid for postage 255

Jan., 10 Paid to refreshment 950

Jan., 12 Paid for cartage 750

Jan., 15 Paid for stamp 175

Jan., 26 Paid repair charge of Laptop 1000

Jan., 31 Paid travelling expenses 255

33. Journalise the following transactions in the books of Darwin :

1.1.2023 Darwin started business with cash ` 2,50,000

2. Paid into bank ` 40,000

4. Purchased goods from Anwar ` 15,000

8. Received cash from Anju ` 20,000

9. Darwin withdraws cash from business for personal purpose. ` 15,000

15. Paid rent ` 1,500

20. Cash withdrawal for office purpose ` 2,000

25. Return goods to Anwar ` 1,000

FY-449 12

31. M/s.  1-1-2018  2,00,000     50,000 
   .  
 10  .    10,000
 .
    5   
.

VI. 32  34    2  .
8  . (2  8 = 16)
32.     .
2023
 1    5000  
 3 400   
 4 255   
 10 950   
 12 750   
 15 175   
 26 1000     
 31 255   

33.        :
1.1.2023    ` 2,50,000
2.    ` 40,000
4.     ` 15,000
8.    ` 20,000
9.    
   ` 15,000
15.  ` 1,500
20.    . ` 2,000
25.    . ` 1,000

FY-449 13 P.T.O.

34. Prepare the Trading, profit & loss account and balance sheet from the Trial balance
and additional information :
Trial balance as on 31.12.2022
Debit Credit
Opening stock 1,00,000
Capital 29,000
Purchase 85,250
Debtors 20,000
Drawings 4,500
Sales 2,50,000
Wages 3,500
Rent 5,000
Salaries 7,500
Bad debts 3,000
Creditors 30,000
Cash 40,000
Commission Received 3,500
Investment 15,000
Bank overdraft 6,000
Purchase return 5,250
Furniture 40,000
3,23,750 3,23,750
Additional information :
(a) Closing stock is valued at ` 40,000.
(b) Salary outstanding ` 2,500.
(c) Rent received in advance ` 1,000.
(d) Depreciation of furniture @ 10%.
(e) Write off ` 1,000 as bad debts.

_______________

FY-449 14

34.   ,    
 - .    :
31.12.2022   
 
  1,00,000
 29,000
 85,250
 20,000
 4,500
 2,50,000
 3,500
 5,000
 7,500
 
  3,000
 30,000
 40,000
  3,500
 15,000
  6,000
  5,250
 40,000
3,23,750 3,23,750
  :
(a)    ` 40,000.
(b)   ` 2,500.
(c)    ` 1,000.
(d)   @ 10%.
(e)  1,000  .

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FY-449 15 P.T.O.

FY-449 16