Kerala Plus One Answer Key 2023 Accountancy with CA

FIRST YEAR

Kerala Board
Answer Key
2023

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ANSWER KEY CODE: FY-450
FIRST YEAR HIGHER SECONDARY EXAMINATION, MARCH -2023
PART III
SUBJECT: ACCOUNTANCY WITH CA

60 SCORES 2 HOURS
Qn. Sub. Answer Key / Value Point Score Total
No Qns Score

1 c. Capital. 1 1
2 b. Ledger. 1 1
3 c. Journalising 1 1
4 d. Journal proper 1 1
5 c. Account holder in a bank. 1 1
6 d. Error of partial omission 1 1
7 c. Depletion. 1 1
8 c. Shown on the asset side of the balance sheet. 1 1
9 a. Asset. 1 1

10. Fixed Asset : Any Correct item 4 X 1/2
Intangible Asset : Any Correct item 2
Long term liabilities: Any Correct item
Current liabilities : Any Correct item

11. a. Capital
b. Rent Ale Dr. 4x1l2
c. Cash Alc / BankAic. 2
d. Cash sales. or sold goods for cash (Any correct narration)

12. (a) Cheques issued by the bank but not yet presented for payment. 2x1 2
b) Cheques paid into the bank but not yet collected.
(c) Direct debits made by the bank on behalf of the customer.
(d) Amounts directly deposited in the bank account.
(e) Interest and dividends collected by the bank.
(f) Direct payments made by the bank on behalf of the customers.
Che ues de ositedlbills discounted dishonoured. An 2 oints onl
13. Reserves Provision
a. Appropriation of profit. a. Charge against profit
b. It is made for strengthening the b. Created for a known liability or
financial position of the business. expense related to the current 2
period, the amount of which is not 2x1
certain.
c. It is shown on the liabilities side c. As a deduction from the item on
after the capital amount. the assets side or on the liabilities
side along with current
liabilities.
d. It is at the discretion of the d. It is necessary to ascertain true
management. profit or loss in compliance with

'Prudence or Conservatism
concept'

(Any 2 points)

14. a. 1 2
Debit Side of P & LAIc. Rs. 5000
1
b.
Add to the capital in the Liability side of Balance Sheet.

Capital Rs.50000
add:lnterest on capital 5000

55000
Or
( Without considering amount give full marks )

15.
a. To maintain business records .
b. To Calculation of profit or loss.
3xl 3
c. To ascertain financial position.
d. To Provide information to users .
Or
any meaning full answer regarding "Account" (Any 3 points)
16. 3xl 3
Any 3 advantages or meaning full answer.

c.
Salary Alc Dr. 4,000 1

~-~"".'
To RajuAlc. 4,000
cC',,·, """(::1::::
==,~ ,"

19. A B
i. Creating provision for doubtful b. Conservatism 4x1 4
debts
ii. Transactions are to be supported c. objectivity.
by source documents
Iii. Salary outstanding added to d. Matching concept.
salary in P & LAIc
iv. Every transaction has a two fold a. Dual aspect concept.
effect.

Transaction cash stock Debtors Total Liabilities Capital Total
20. s Assets
Started 20000 20000 20000 20000 1
business
b. -(8000) 8000 20000 20000 1 4
Purchased
Goods
1
C,Sold -5000 8000 23000 3000 23000
goods
1
Total 12000 3000 8000 23000 23000 23000

"or
( Use any other methods)

Machinery Alc
Dr. Cr.
21. Date Particulars Amount Date Particulars Amount
1 Cash (100000 + 110000 1 Dep. 10000
yr 10000) ,
yr lx2
Balance cld 100000
----_ .. _
110,000 110,000 4
2
yr Dep
10000
100000
2 Balance Bid Balance Cld
90,000
yr lx2
100,000 100,000

Balance Bid 90,000

Or
Prepare Depreciation Alc for 2 years.
or
Calculation of depreciation
_.,_._-

Dep = (Cost + Errection Charge )-Scrap

Life

= (100000 + 10000) - 10000
10
= 10000

a.
22. Salary Alc Dr. 2000 1
To Outstanding Salary 2000
b.
Prepared insurance AI cDr. 600 1
To Insurance 600 4

c. Depreciation Alc Dr. 4000 1
To Machinery 4000

d. Interest on capital Alc Dr. 2,800 1
To Capital 2,800

23.
Bank reconciliation Statement as on 31.3.2022

Particulars Amount + Amount - 4
r--------------------------------+-------+------~~
(i) Balance as per cash book 9600 I
(ii) Cheque issued but not presented 5400 1 5
(iii)Cheque deposited into bank, but not 1
collected. 6000 1
(iv)Bank charges debited by bank 450 1
(v)Direct payment by a customer 1000
Balance as per pass book 9550
16000 16000
Trial Balances
Particulars Debit Credit
Machinery 29,700
24. Debtors 21,600
Creditors 62,800
wages 15,000
Purchase 59,900
Cash 4,500 10x1l2 5
Opening Stock 6,000
Bank overdraft 2,800
Sales 73,500
Rent & Taxes 2,400

1,39,100 1,39,100
-------

25. a.
Meaning full explanation 2 5
Preparing an imaginary balance sheet in the order of liquidity 3
b.

26. Dr. Double column cash book Cr.
Date Particulars L.F Cash Bank Date Particulars L.F Cash Bank
1.1.22 Balances b/d 8000 6200 5.1.22 Bank C 7000
6.1.22 Salary 8000
4.1.22 Rajesh 4000 8.1.22 Arnan 2000
5.1.22 Cash c 7000 10.1.22 Cash c 1200 112for 8
10.1.22 Bank 1200 14.1.22 Rent 1800 each
18.1.22 Nadeer 5400 24.1.22 Bank char 200 correct
31.1.22 Drawings 3000 posting
& Full
Balances Cld 4400 4200 score for
final
13200 18600 13200 18600 answer
27.
Trading, Profit & Loss Alc for the year ended31.12.2022
Dr. Cr.
Particulars Amounts Particulars Amounts
Opening Stock 40000 Sales 314000
Purchase 120000 Less: Returns 4,000
Wages 22,000 --------- 310000
Add: Ols 2,000 Closing Stock 40,000
-------- 24000
Carriage inwards 6000
3
Gross profit cld 160000

350000 350000

Salary 30,000 Gross profit Bid 160000
8
Rent 20,000
Less: prepaid 2,000 Commission 8000
--------
18000
Provision for bad 2000 3
debts
15000
Dep Furniture
103000
Net Profit 168000
168,000

Balances sheet as on 31.12.2022.
Liabilities Amount Assets Amounts 2

Creditors 60000 Cash at bank 6300
ols wages 2000 Debtors
Capital: 60300 40000
Less: pro. 2000 38000
Add: Nip: 103000 ---------
--------- Prepared rent 2000
163300 Closing stock 40000
Furniture : 150000
Less: Drawings: 4000 Less:dep 15000
--------- 159300 ---------
135000
1-- _._-

221300 221300

I

Scheme Finalised by:

1.PRAKASH.P.~, Govt.HSS ~edUngOlam, Kollam, 9447226258, 7012881563
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2.SHAJI.P, Amritha HSS Valbkunnam, Alappuzha . 8075249759. ~/
3.DINESAN. P.K,SNHSS,Poothadi, Wayanad. 9447263117. 0~
4.ABDUL RAHIM.O.M, GHSS, Karakurissi, Palakkad, 9947049898.
5.SUNIMON.K.S, Valamangalam SCSHSS, Thuravoor, Alappuzha 808919595 .
6.SHAMEER.P, DISGHSS, Kannur, 9061861375. ~
7.MUHAMMAD HAFEEZ.V.A, LMHSS Alappuzha. 9447787897. ~
8.MARTIN JOSEPH, ST.Philomena'sHSS Upputhara. 9447114704. ~
9.Dr.SANEESHKUMAR.P.G, GHSS PAIPPAD, KOTTAYAM, 9846539243~
10.SIBU . J. JACOB,CSI HSS ,Manakkala, Pathanamthitta, 8606357173. ~
11. SHEJI DAS.SS, THIRUVAMPADY HSS,Alappuzha. 9946209137. Zst3
12. RADHA. C, KHSS KANNADI, Palakkad, 9446637884. .-\
13. GINEESH.M, CHOVVA HSS, Chovva, Kannur,9496189448. _ -~'-'\.!S::
14.NASSAR.P,BYKVHSS VALAVANNUR,Malapuram, 9995337482.
15.PRIYA. A.S,GHSS Azhikode,Kannur.,8301027712