Kerala Plus Two Question Paper 2025 Accounts with AFS
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Page 1
KERALA BOARD
QUESTION
PAPER
2025
DOWNLOAD PDF
Kerala Board of Public
Examinations
QUESTION
PAPER
2025
DOWNLOAD PDF
Kerala Board of Public
Examinations
Page 2
SY-449
Reg. No. : ......................................
Name : ...........................................
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2025
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-449 1 P.T.O.
Reg. No. : ......................................
Name : ...........................................
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2025
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-449 1 P.T.O.
Page 3
PART – I
(ACCOUNTANCY) (40 Scores)
I. Answer any 5 questions from 1 to 6. Each carries 1 score. (5 1 = 5)
1. A partnership firm incurs a loss of ` 25,000 during 2022-23. Which of the following
admissible to partners at the end of the accounting year ?
(a) Interest on partners loan
(b) Interest on partners capital
(c) Commission to partners
(d) Salary to partners
2. The excess of actual average profit over normal profit is called :
(a) Capitalised profit (b) Notional Profit
(c) Super Profit (d) Gross Profit
3. Retiring or outgoing partner :
(a) is liable for firm’s liabilities incurred after his retirement.
(b) is not liable for any liabilities of the firm.
(c) is liable for obligations incurred before his retirement.
(d) is liable for obligations incurred before and after his retirement.
4. Which one of the following is not a situation that the Court can make an order to
dissolve the firm ?
(a) A partner has become insane.
(b) When a partner commits breach of agreement.
(c) The business of the firm cannot be carried on except at a loss.
(d) On the expiry of the term.
5. Complete the following series with given hint :
Hint : Increase in the value of asset : Debit Asset and Credit Revaluation
Decrease in the value of liabilities : Debit .............. and Credit ..............
SY-449 2
(ACCOUNTANCY) (40 Scores)
I. Answer any 5 questions from 1 to 6. Each carries 1 score. (5 1 = 5)
1. A partnership firm incurs a loss of ` 25,000 during 2022-23. Which of the following
admissible to partners at the end of the accounting year ?
(a) Interest on partners loan
(b) Interest on partners capital
(c) Commission to partners
(d) Salary to partners
2. The excess of actual average profit over normal profit is called :
(a) Capitalised profit (b) Notional Profit
(c) Super Profit (d) Gross Profit
3. Retiring or outgoing partner :
(a) is liable for firm’s liabilities incurred after his retirement.
(b) is not liable for any liabilities of the firm.
(c) is liable for obligations incurred before his retirement.
(d) is liable for obligations incurred before and after his retirement.
4. Which one of the following is not a situation that the Court can make an order to
dissolve the firm ?
(a) A partner has become insane.
(b) When a partner commits breach of agreement.
(c) The business of the firm cannot be carried on except at a loss.
(d) On the expiry of the term.
5. Complete the following series with given hint :
Hint : Increase in the value of asset : Debit Asset and Credit Revaluation
Decrease in the value of liabilities : Debit .............. and Credit ..............
SY-449 2
Page 4
PART – I
(ACCOUNTANCY) (40 Scores)
I. 1 6 5 .
1 . (5 1 = 5)
1. 2022-23 25,000
.
.
(a)
(b)
(c)
(d)
2.
:
(a) (b)
(c) (d)
3. :
(a) .
(b) .
(c) .
(d) .
4.
.
(a)
(b)
(c)
(d)
5.
:
: :
: .............. ..............
SY-449 3 P.T.O.
(ACCOUNTANCY) (40 Scores)
I. 1 6 5 .
1 . (5 1 = 5)
1. 2022-23 25,000
.
.
(a)
(b)
(c)
(d)
2.
:
(a) (b)
(c) (d)
3. :
(a) .
(b) .
(c) .
(d) .
4.
.
(a)
(b)
(c)
(d)
5.
:
: :
: .............. ..............
SY-449 3 P.T.O.
Page 5
6. There are two statements Assertion (A) and Reason (R) :
Assertion (A) : On dissolution Reserves and surplus balances are transferred to
realisation account.
Reason (R) : Reserves and surplus are part of undistributed profits.
Choose the correct option from the following :
(a) Both Assertion (A) and Reason (R) are correct.
(b) Both Assertion (A) and Reason (R) are incorrect.
(c) Assertion (A) is correct but Reason (R) is incorrect.
(d) Assertion (A) is incorrect but Reason (R) is correct.
II. Answer any 4 questions from 7 to 11. Each carries 2 scores. (4 2 = 8)
7. Anil and Sunil are friends, they bought a building for ` 3,00,000 by contributing
equal amounts. After two year, they sold it for ` 5,00,000 and shared the profit
equally.
(a) Are they doing the business in partnership ?
(b) Give reason to support your answer.
8. List out any four items appearing in the credit side of a partners current account.
9. Write the changes affected on assets from the following journal entries :
(a) Furniture A/c .............. Dr 12,000
To Revaluation A/c 12,000
(b) Revaluation A/c ........... Dr. 10,000
To Machinery 12,000
10. Aji, Biji and Saji are equal partners. On the date of retirement of Saji, the balance
sheet of the firm showed a general reserve of ` 60,000. Give journal entries to adjust
the above.
SY-449 4
Assertion (A) : On dissolution Reserves and surplus balances are transferred to
realisation account.
Reason (R) : Reserves and surplus are part of undistributed profits.
Choose the correct option from the following :
(a) Both Assertion (A) and Reason (R) are correct.
(b) Both Assertion (A) and Reason (R) are incorrect.
(c) Assertion (A) is correct but Reason (R) is incorrect.
(d) Assertion (A) is incorrect but Reason (R) is correct.
II. Answer any 4 questions from 7 to 11. Each carries 2 scores. (4 2 = 8)
7. Anil and Sunil are friends, they bought a building for ` 3,00,000 by contributing
equal amounts. After two year, they sold it for ` 5,00,000 and shared the profit
equally.
(a) Are they doing the business in partnership ?
(b) Give reason to support your answer.
8. List out any four items appearing in the credit side of a partners current account.
9. Write the changes affected on assets from the following journal entries :
(a) Furniture A/c .............. Dr 12,000
To Revaluation A/c 12,000
(b) Revaluation A/c ........... Dr. 10,000
To Machinery 12,000
10. Aji, Biji and Saji are equal partners. On the date of retirement of Saji, the balance
sheet of the firm showed a general reserve of ` 60,000. Give journal entries to adjust
the above.
SY-449 4
Page 6
6. (),
() :
() :
.
() :
.
.
(a) () () .
(b) () () .
(c) () () .
(d) () () .
II. 7 11 4 .
2 . (4 2 = 8)
7. .
3,00,000 .
5,00,000
.
(a) ?
(b) .
8.
.
9.
:
(a) Furniture A/c .............. Dr. 12,000
To Revaluation A/c 12,000
(b) Revaluation A/c ........... Dr. 10,000
To Machinery 12,000
10. .
60,000 .
.
SY-449 5 P.T.O.
() :
() :
.
() :
.
.
(a) () () .
(b) () () .
(c) () () .
(d) () () .
II. 7 11 4 .
2 . (4 2 = 8)
7. .
3,00,000 .
5,00,000
.
(a) ?
(b) .
8.
.
9.
:
(a) Furniture A/c .............. Dr. 12,000
To Revaluation A/c 12,000
(b) Revaluation A/c ........... Dr. 10,000
To Machinery 12,000
10. .
60,000 .
.
SY-449 5 P.T.O.
Page 7
11. With reference to dissolution of a firm, complete the table given below :
Description Journal Entry
Transfer of Assets to Realisation A/c Realisation A/c Dr
To Assets
Transfer of Liabilities ..............................
.............................. Bank A/c Dr
To Realisation
III. Answer any 5 questions from 12 to 17. Each carries 3 scores. (5 3 = 15)
12. Complete the following table with regarding to the provisions applicable in the
absence of partnership deed (hint given) :
Hint : Remuneration to partner No
(a) Sharing of profit or loss
(b) Interest on Capital
(c) Interest on loan
13. Raju and Rahim are partners. They admit Thomas and guarantee that his share of
profit will not be less than ` 28,000. Profits to be shared 4:3:2 respectively. Total
profits were ` 99,000. It was agreed that excess payable to Thomas over his share will
be borne by Raju and Rahim in the ratio of 3:1.
Write the journal entry for adjustment for deficiency of profit.
14. A firm has earned ` 3,00,000 as average profit for the last few year. Normal rate of
return in the class of business is 10%. Find out goodwill according to Capitalisation
of Super profit, if the value of net assets amounted to ` 12,00,000.
SY-449 6
Description Journal Entry
Transfer of Assets to Realisation A/c Realisation A/c Dr
To Assets
Transfer of Liabilities ..............................
.............................. Bank A/c Dr
To Realisation
III. Answer any 5 questions from 12 to 17. Each carries 3 scores. (5 3 = 15)
12. Complete the following table with regarding to the provisions applicable in the
absence of partnership deed (hint given) :
Hint : Remuneration to partner No
(a) Sharing of profit or loss
(b) Interest on Capital
(c) Interest on loan
13. Raju and Rahim are partners. They admit Thomas and guarantee that his share of
profit will not be less than ` 28,000. Profits to be shared 4:3:2 respectively. Total
profits were ` 99,000. It was agreed that excess payable to Thomas over his share will
be borne by Raju and Rahim in the ratio of 3:1.
Write the journal entry for adjustment for deficiency of profit.
14. A firm has earned ` 3,00,000 as average profit for the last few year. Normal rate of
return in the class of business is 10%. Find out goodwill according to Capitalisation
of Super profit, if the value of net assets amounted to ` 12,00,000.
SY-449 6
Page 8
11.
:
Realisation A/c Dr
To Assets
..............................
.............................. Bank A/c Dr
To Realisation
III. 12 17 5 .
3 . (5 3 = 15)
12.
(
) :
:
(a)
(b)
(c)
13. ,
28,000 .
4:3:2
. 99,000
.
3:1 .
.
14. 3,00,000
.
10% .
12,00,000 ,
.
SY-449 7 P.T.O.
:
Realisation A/c Dr
To Assets
..............................
.............................. Bank A/c Dr
To Realisation
III. 12 17 5 .
3 . (5 3 = 15)
12.
(
) :
:
(a)
(b)
(c)
13. ,
28,000 .
4:3:2
. 99,000
.
3:1 .
.
14. 3,00,000
.
10% .
12,00,000 ,
.
SY-449 7 P.T.O.
Page 9
15. Match the followings :
A B C
1. Sacrificing Ratio Old Ratio Rest of share At the time of retirement or death
2. Gaining Ratio Old Ratio – New Ratio At the time of admission
3. New Ratio New Ratio – Old Ratio At the time of capital adjustment
16. A, B and C are partners sharing profit and losses equally. C decided to retire from the
firm on 30th June, 2023. His share of profit up to the date of retirement has to be
calculated on the basis of average profit of last four years. The profit for the last four
years were :
2019-20 ` 40,000 2020-21 ` 14,000
2021-22 ` 50,000 2022-23 ` 40,000
Calculate C’s share of profit up to the date of retirement. Books of accounts are
closed on 31st March every year.
17. Write any three differences between Dissolution of partnership and dissolution of
firm.
IV. Answer any 2 questions from 18 to 20. Each carries 6 scores. (2 6 = 12)
18. Gokul and Gopika are partners sharing profits and losses in the ratio of 3:2
respectively. On March 31, 2023, their Balance Sheet was as under :
Amount Amount
Liabilities Assets
(`) (`)
Creditors 80,000 Cash 10,000
Bank Overdraft 20,000 Bills receivables 20,000
Reserve Fund 10,000 Debtors 70,000
Employees PF 30,000 Stock 40,000
Capital Machinery 1,80,000
Gokul 1,80,000 Buildings 1,00,000
Gopika 1,20,000 3,00,000 Patent 20,000
4,40,000 4,40,000
SY-449 8
A B C
1. Sacrificing Ratio Old Ratio Rest of share At the time of retirement or death
2. Gaining Ratio Old Ratio – New Ratio At the time of admission
3. New Ratio New Ratio – Old Ratio At the time of capital adjustment
16. A, B and C are partners sharing profit and losses equally. C decided to retire from the
firm on 30th June, 2023. His share of profit up to the date of retirement has to be
calculated on the basis of average profit of last four years. The profit for the last four
years were :
2019-20 ` 40,000 2020-21 ` 14,000
2021-22 ` 50,000 2022-23 ` 40,000
Calculate C’s share of profit up to the date of retirement. Books of accounts are
closed on 31st March every year.
17. Write any three differences between Dissolution of partnership and dissolution of
firm.
IV. Answer any 2 questions from 18 to 20. Each carries 6 scores. (2 6 = 12)
18. Gokul and Gopika are partners sharing profits and losses in the ratio of 3:2
respectively. On March 31, 2023, their Balance Sheet was as under :
Amount Amount
Liabilities Assets
(`) (`)
Creditors 80,000 Cash 10,000
Bank Overdraft 20,000 Bills receivables 20,000
Reserve Fund 10,000 Debtors 70,000
Employees PF 30,000 Stock 40,000
Capital Machinery 1,80,000
Gokul 1,80,000 Buildings 1,00,000
Gopika 1,20,000 3,00,000 Patent 20,000
4,40,000 4,40,000
SY-449 8
Page 10
15. :
A B C
1.
2. –
3. –
16. A, B, C . 2023
30- C .
.
.
2019-20 ` 40,000 2020-21 ` 14,000
2021-22 ` 50,000 2022-23 ` 40,000
‘’ .
31
17.
.
IV. 18 20 2 .
6 . (2 6 = 12)
18. 3:2
. 2023 31-
:
(`) (`)
80,000 10,000
20,000 20,000
10,000 70,000
PF 30,000 40,000
1,80,000
1,80,000 1,00,000
1,20,000 3,00,000 20,000
4,40,000 4,40,000
SY-449 9 P.T.O.
A B C
1.
2. –
3. –
16. A, B, C . 2023
30- C .
.
.
2019-20 ` 40,000 2020-21 ` 14,000
2021-22 ` 50,000 2022-23 ` 40,000
‘’ .
31
17.
.
IV. 18 20 2 .
6 . (2 6 = 12)
18. 3:2
. 2023 31-
:
(`) (`)
80,000 10,000
20,000 20,000
10,000 70,000
PF 30,000 40,000
1,80,000
1,80,000 1,00,000
1,20,000 3,00,000 20,000
4,40,000 4,40,000
SY-449 9 P.T.O.
Page 11
They agreed to admit Geetha into partnership on the following terms :
(i) Geetha bring ` 1,00,000 as her Capital and ` 80,000 as her share of goodwill
for 1/4 share of profit in the business.
(ii) Building and machinery to be depreciated by 10%.
(iii) The firm have an unrecorded motor vehicle of ` 40,000 which was brought into
record.
(iv) Provide ` 1,300 for provision for bad and doubtful debts.
(v) Stock is valued at ` 50,000.
Prepare Revaluation Account and Partners’ Capital Account.
19. A, B and C are partners sharing profits in 3:2:1 ratio. A died on October 1, 2023. It
was agreed between his executors and the remaining partners that :
(a) Goodwill to be valued at 2 years’ purchase of the last 5 years’ average profit.
(Average profit of the past 5 years was ` 20,000)
(b) Machinery be depreciated by ` 12,000 and Buildings be appreciated by
` 24,000.
(c) Profit for the year 2023 be taken as having accrued at the same rate as that of
the previous year. (The profit of 2022-23 was ` 36,000)
(d) Interest on capital @ 12% p.a. (The capital account balance of A as on
01-04-2023 was ` 60,000)
(e) Accumulated profits and losses are to be shared among partners.
(Balance sheet of the firm as on 31-03-2023 shows a credit balance of ` 12,000 in the
Profit & Loss A/c)
Books of accounts are closed on 31st March every year.
Prepare A’s Executers Account.
SY-449 10
(i) Geetha bring ` 1,00,000 as her Capital and ` 80,000 as her share of goodwill
for 1/4 share of profit in the business.
(ii) Building and machinery to be depreciated by 10%.
(iii) The firm have an unrecorded motor vehicle of ` 40,000 which was brought into
record.
(iv) Provide ` 1,300 for provision for bad and doubtful debts.
(v) Stock is valued at ` 50,000.
Prepare Revaluation Account and Partners’ Capital Account.
19. A, B and C are partners sharing profits in 3:2:1 ratio. A died on October 1, 2023. It
was agreed between his executors and the remaining partners that :
(a) Goodwill to be valued at 2 years’ purchase of the last 5 years’ average profit.
(Average profit of the past 5 years was ` 20,000)
(b) Machinery be depreciated by ` 12,000 and Buildings be appreciated by
` 24,000.
(c) Profit for the year 2023 be taken as having accrued at the same rate as that of
the previous year. (The profit of 2022-23 was ` 36,000)
(d) Interest on capital @ 12% p.a. (The capital account balance of A as on
01-04-2023 was ` 60,000)
(e) Accumulated profits and losses are to be shared among partners.
(Balance sheet of the firm as on 31-03-2023 shows a credit balance of ` 12,000 in the
Profit & Loss A/c)
Books of accounts are closed on 31st March every year.
Prepare A’s Executers Account.
SY-449 10
Page 12
:
(i) 1,00,000 1/4
80,000 .
(ii) 10% .
(iii) 40,000
.
(iv) 1,300
.
(v) 50,000 .
.
19. A, B, C 3:2:1 .
2023 1- A .
:
(a) 5 2
. ( 5
20,000 )
(b) 12,000 24,000
.
(c) 2023- . (2022-23
36,000 .)
(d) @ 12% p.a. (01-04-2023 A
60,000 )
(e) .
(31-03-2023
12,000 )
31- .
A .
SY-449 11 P.T.O.
:
(i) 1,00,000 1/4
80,000 .
(ii) 10% .
(iii) 40,000
.
(iv) 1,300
.
(v) 50,000 .
.
19. A, B, C 3:2:1 .
2023 1- A .
:
(a) 5 2
. ( 5
20,000 )
(b) 12,000 24,000
.
(c) 2023- . (2022-23
36,000 .)
(d) @ 12% p.a. (01-04-2023 A
60,000 )
(e) .
(31-03-2023
12,000 )
31- .
A .
SY-449 11 P.T.O.
Page 13
20. Ravi and Rahim are partners sharing profit and losses in the ratio of 3:2. Their
Balance Sheet as on 31st March, 2023 is as follows :
Balance Sheet of Ravi and Rahim as on 31st March, 2023
Amount Amount
Liabilities Assets
(`) (`)
Creditors 40,000 Cash 8,000
Reserves 13,000 Stock 12,000
Mrs. Ravi’s Loan 12,000 Debtors 25,000
Rahim’s Loan 6,000 Furniture 30,000
Capital Machinery 50,000
Ravi 40,000 Investments 15,000
Rahim 30,000 70,000 Profit and Loss A/c 1,000
1,41,000 1,41,000
The firm was dissolved on March 31, 2023 on the following terms :
(i) Ravi agreed to take over investment and to pay Mrs. Ravi’s Loan.
(ii) Other assets are realised as follows :
Stock ` 14,000
Debtors ` 28,000
Furniture ` 37,000
Machinery ` 47,000
(iii) Expenses on realisation amounted to ` 2,000.
(iv) Creditors agreed to accept 37,000 as final settlement.
Prepare Realisation Account.
SY-449 12
Balance Sheet as on 31st March, 2023 is as follows :
Balance Sheet of Ravi and Rahim as on 31st March, 2023
Amount Amount
Liabilities Assets
(`) (`)
Creditors 40,000 Cash 8,000
Reserves 13,000 Stock 12,000
Mrs. Ravi’s Loan 12,000 Debtors 25,000
Rahim’s Loan 6,000 Furniture 30,000
Capital Machinery 50,000
Ravi 40,000 Investments 15,000
Rahim 30,000 70,000 Profit and Loss A/c 1,000
1,41,000 1,41,000
The firm was dissolved on March 31, 2023 on the following terms :
(i) Ravi agreed to take over investment and to pay Mrs. Ravi’s Loan.
(ii) Other assets are realised as follows :
Stock ` 14,000
Debtors ` 28,000
Furniture ` 37,000
Machinery ` 47,000
(iii) Expenses on realisation amounted to ` 2,000.
(iv) Creditors agreed to accept 37,000 as final settlement.
Prepare Realisation Account.
SY-449 12
Page 14
20. 3:2 .
2023 31 :
2023 31
40,000 8,000
13,000 12,000
12,000 25,000
6,000 30,000
50,000
40,000 15,000
30,000 70,000 & A/c 1,000
1,41,000 1,41,000
2023 31-
.
(i)
.
(ii) :
14,000
28,000
37,000
47,000
(iii) 2,000 .
(iv) 37,000 .
.
SY-449 13 P.T.O.
2023 31 :
2023 31
40,000 8,000
13,000 12,000
12,000 25,000
6,000 30,000
50,000
40,000 15,000
30,000 70,000 & A/c 1,000
1,41,000 1,41,000
2023 31-
.
(i)
.
(ii) :
14,000
28,000
37,000
47,000
(iii) 2,000 .
(iv) 37,000 .
.
SY-449 13 P.T.O.
Page 15
PART – II
(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)
I. Answer any 5 questions from 21 to 26. Each carries 1 score. (5 1 = 5)
21. What does over subscription of shares means ?
(a) Issue of more shares than initially planned.
(b) Demand for the shares exceeds than the number of shares issued.
(c) Issue of fewer shares than initially planned.
(d) When the issue price is set above the face value.
22. There are two statements Assertion (A) and Reason (R) :
Assertion (A) : Forfeited shares can be re-issued at a discount.
Reason (R) : Re-issuing forfeited shares at discount is often attract new
investors and ensure that the shares are sold.
Choose the correct option from the following :
(a) Both Assertion (A) and Reason (R) are correct.
(b) Both Assertion (A) and Reason (R) are incorrect.
(c) Assertion (A) is correct but Reason (R) is incorrect.
(d) Assertion (A) is incorrect but Reason (R) is correct.
23. Debentures which are secured by a charge on the assets of the company are called :
(a) Secured debentures (b) Unsecured debentures
(c) Convertible debentures (d) Bearer debentures
24. Moon Ltd. issued 10,000, 9% debentures of ` 100 each at a premium of 5%,
redeemable at a premium of 10%. Loss on issue of debenture account will be debited
by :
(a) ` 10,00,000 (b) ` 1,00,000
(c) ` 1,50,000 (d) ` 1,05,000
SY-449 14
(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)
I. Answer any 5 questions from 21 to 26. Each carries 1 score. (5 1 = 5)
21. What does over subscription of shares means ?
(a) Issue of more shares than initially planned.
(b) Demand for the shares exceeds than the number of shares issued.
(c) Issue of fewer shares than initially planned.
(d) When the issue price is set above the face value.
22. There are two statements Assertion (A) and Reason (R) :
Assertion (A) : Forfeited shares can be re-issued at a discount.
Reason (R) : Re-issuing forfeited shares at discount is often attract new
investors and ensure that the shares are sold.
Choose the correct option from the following :
(a) Both Assertion (A) and Reason (R) are correct.
(b) Both Assertion (A) and Reason (R) are incorrect.
(c) Assertion (A) is correct but Reason (R) is incorrect.
(d) Assertion (A) is incorrect but Reason (R) is correct.
23. Debentures which are secured by a charge on the assets of the company are called :
(a) Secured debentures (b) Unsecured debentures
(c) Convertible debentures (d) Bearer debentures
24. Moon Ltd. issued 10,000, 9% debentures of ` 100 each at a premium of 5%,
redeemable at a premium of 10%. Loss on issue of debenture account will be debited
by :
(a) ` 10,00,000 (b) ` 1,00,000
(c) ` 1,50,000 (d) ` 1,05,000
SY-449 14
Page 16
PART – II
(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)
I. 21 26 5 .
1 . (5 1 = 5)
21. ?
(a) .
(b)
.
(c) .
(d) .
22. ()
() :
() : .
() :
.
:
(a) () () .
(b) () () .
(c) () () .
(d) () () .
23. :
(a)
(b)
(c)
(d)
24. 100 10,000, 9% 5%
10% .
?
(a) 10,00,000 (b) 1,00,000
(c) 1,50,000 (d) 1,05,000
SY-449 15 P.T.O.
(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)
I. 21 26 5 .
1 . (5 1 = 5)
21. ?
(a) .
(b)
.
(c) .
(d) .
22. ()
() :
() : .
() :
.
:
(a) () () .
(b) () () .
(c) () () .
(d) () () .
23. :
(a)
(b)
(c)
(d)
24. 100 10,000, 9% 5%
10% .
?
(a) 10,00,000 (b) 1,00,000
(c) 1,50,000 (d) 1,05,000
SY-449 15 P.T.O.
Page 17
25. Which of the following transactions will result flow of cash ?
A. Issue of 9% debentures of ` 1,00,000 to the vendor of machinery.
B. Cash received from Debtors amounted to ` 60,000.
C. Redeemed 10% debentures by converting to equity shares.
D. Cash proceedings from issuing shares ` 70,000.
Choose the right answer :
(a) B only (b) B, C and D
(c) B and D (d) A and B
26. Complete the following series with given hint :
Hint : Current Ratio – A type of Liquidity Ratio
Gross profit Ratio – ..................................
II. Answer any 4 questions from 27 to 31. Each carries 2 scores. (4 2 = 8)
27. Write a short note on “One Person Company”.
28. Aiswarya Ltd. purchased a machinery from Raj Ltd. for ` 2,00,000 and agreed to
make the payment by issuing 2,000, 10% debentures of ` 100 each.
Record necessary journal entries.
29. For a new investor investing in debentures of a company is more attractive than
investing in shares. Justify your answer.
30. Write any two objectives of Financial Statement Analysis.
31. Classify the following items as investing activity and financing activity :
(a) Dividend received (b) Interest paid
(c) Purchase of machinery (d) Redemption of debentures
SY-449 16
A. Issue of 9% debentures of ` 1,00,000 to the vendor of machinery.
B. Cash received from Debtors amounted to ` 60,000.
C. Redeemed 10% debentures by converting to equity shares.
D. Cash proceedings from issuing shares ` 70,000.
Choose the right answer :
(a) B only (b) B, C and D
(c) B and D (d) A and B
26. Complete the following series with given hint :
Hint : Current Ratio – A type of Liquidity Ratio
Gross profit Ratio – ..................................
II. Answer any 4 questions from 27 to 31. Each carries 2 scores. (4 2 = 8)
27. Write a short note on “One Person Company”.
28. Aiswarya Ltd. purchased a machinery from Raj Ltd. for ` 2,00,000 and agreed to
make the payment by issuing 2,000, 10% debentures of ` 100 each.
Record necessary journal entries.
29. For a new investor investing in debentures of a company is more attractive than
investing in shares. Justify your answer.
30. Write any two objectives of Financial Statement Analysis.
31. Classify the following items as investing activity and financing activity :
(a) Dividend received (b) Interest paid
(c) Purchase of machinery (d) Redemption of debentures
SY-449 16
Page 18
25. ?
A. 1,00,000 9% .
B. 60,000 .
C. 10% .
D. 70,000.
:
(a) B (b) B C D
(c) B D (d) A B
26. :
: –
– ..................................
II. 27 31 4 .
2 . (4 2 = 8)
27. “ ” .
28. , 2,00,000 .
2,000, 100 10%
. .
.
29.
.
.
30. .
31.
:
(a) (b)
(c) (d)
SY-449 17 P.T.O.
A. 1,00,000 9% .
B. 60,000 .
C. 10% .
D. 70,000.
:
(a) B (b) B C D
(c) B D (d) A B
26. :
: –
– ..................................
II. 27 31 4 .
2 . (4 2 = 8)
27. “ ” .
28. , 2,00,000 .
2,000, 100 10%
. .
.
29.
.
.
30. .
31.
:
(a) (b)
(c) (d)
SY-449 17 P.T.O.
Page 19
III. Answer any 5 questions from 32 to 37. Each carries 3 scores. (5 3 = 15)
32. The Board of Directors of Galaxy Ltd. resolved that 2,000 equity shares of ` 10 each
be forfeited for non-payment of second and final call of ` 3 per share. Out of these
shares 1,500 shares were re-issued at ` 6 per share. Give necessary journal entries.
33. Match the followings :
A B
1. Call A. Asset
2. Calls in advance B. Demand by the company
3. Calls in arrears C. Liability
34. Aravind Ltd. purchased land and building worth of ` 10,00,000 from Megha Ltd. by
issuing shares of ` 100 each. Write the journal entries for the same if the issue is as
follows :
(a) at par
(b) at a premium of 25%
35. Briefly explain any three objectives of preparing financial statements of a Company.
36. Current Ratio is 3.5. Working Capital is ` 90,000. Calculate the amount of Current
Assets and Current Liabilities.
SY-449 18
32. The Board of Directors of Galaxy Ltd. resolved that 2,000 equity shares of ` 10 each
be forfeited for non-payment of second and final call of ` 3 per share. Out of these
shares 1,500 shares were re-issued at ` 6 per share. Give necessary journal entries.
33. Match the followings :
A B
1. Call A. Asset
2. Calls in advance B. Demand by the company
3. Calls in arrears C. Liability
34. Aravind Ltd. purchased land and building worth of ` 10,00,000 from Megha Ltd. by
issuing shares of ` 100 each. Write the journal entries for the same if the issue is as
follows :
(a) at par
(b) at a premium of 25%
35. Briefly explain any three objectives of preparing financial statements of a Company.
36. Current Ratio is 3.5. Working Capital is ` 90,000. Calculate the amount of Current
Assets and Current Liabilities.
SY-449 18
Page 20
III. 32 37 5 .
3 . (5 3 = 15)
32. 10
2,000
3 .
1,500 6 .
.
33. :
A B
1. A.
2. B.
3. C.
34. 10,00,000
. 100
.
:
(a)
(b) 25%
35.
.
36. 3.5, 90,000
.
SY-449 19 P.T.O.
3 . (5 3 = 15)
32. 10
2,000
3 .
1,500 6 .
.
33. :
A B
1. A.
2. B.
3. C.
34. 10,00,000
. 100
.
:
(a)
(b) 25%
35.
.
36. 3.5, 90,000
.
SY-449 19 P.T.O.
Page 21
37. From the following, compute cash flow from operating activity :
Net Profit during the year ` 5,00,000
Depreciation for the year ` 2,00,000
Profit on Sale of assets ` 50,000 (Transferred to Profit & Loss A/c)
Increase in trade receivables ` 40,000
Increase in trade payable ` 60,000
IV. Answer any 2 questions from 38 to 40. Each carries 6 scores. (2 6 = 12)
38. Bocca Juniors Ltd. issued 2,500 equity shares of ` 10 each at a premium of ` 1 per
share, payable as ` 3 on application, ` 5 (Including premium) on allotment and
balance on first and final call. Company received application for 3,000 shares. Excess
application money was refunded. All sums due on calls and allotments are received.
Record the transactions on the journal of Bocca Juniors.
39. Calculate following ratios from the following information :
(i) Current Ratio
(ii) Acid-Test Ratio
(iii) Gross Profit Ratio
Current Assets ` 35,000
Current Liabilities ` 17,500
Inventory ` 15,000
Revenue from Operations ` 60,000
Cost of Revenue from Operations ` 30,000
SY-449 20
Net Profit during the year ` 5,00,000
Depreciation for the year ` 2,00,000
Profit on Sale of assets ` 50,000 (Transferred to Profit & Loss A/c)
Increase in trade receivables ` 40,000
Increase in trade payable ` 60,000
IV. Answer any 2 questions from 38 to 40. Each carries 6 scores. (2 6 = 12)
38. Bocca Juniors Ltd. issued 2,500 equity shares of ` 10 each at a premium of ` 1 per
share, payable as ` 3 on application, ` 5 (Including premium) on allotment and
balance on first and final call. Company received application for 3,000 shares. Excess
application money was refunded. All sums due on calls and allotments are received.
Record the transactions on the journal of Bocca Juniors.
39. Calculate following ratios from the following information :
(i) Current Ratio
(ii) Acid-Test Ratio
(iii) Gross Profit Ratio
Current Assets ` 35,000
Current Liabilities ` 17,500
Inventory ` 15,000
Revenue from Operations ` 60,000
Cost of Revenue from Operations ` 30,000
SY-449 20
Page 22
37.
:
5,00,000
2,00,000
50,000 ( &
)
40,000
60,000
IV. 38 40 2 .
6 . (2 6 = 12)
38. 10 2,500
1 .
3 , 5
)
. 3,000 .
.
.
.
39.
:
(i)
(ii)
(iii)
35,000
17,500
15,000
60,000
30,000
SY-449 21 P.T.O.
:
5,00,000
2,00,000
50,000 ( &
)
40,000
60,000
IV. 38 40 2 .
6 . (2 6 = 12)
38. 10 2,500
1 .
3 , 5
)
. 3,000 .
.
.
.
39.
:
(i)
(ii)
(iii)
35,000
17,500
15,000
60,000
30,000
SY-449 21 P.T.O.
Page 23
40. Prepare a common size balance sheet of Alpha Ltd. from the following information :
Particulars March 31, 2020 March 31, 2021
I. Equity and Liabilities
(a) Equity share capital 20,00,000 22,00,000
(b) Reserves and surplus 8,00,000 10,00,000
(c) Current liabilities 12,00,000 18,00,000
Total 40,00,000 50,00,000
II. Assets
(a) Fixed assets 28,00,000 31,00,000
(b) Current assets 12,00,000 19,00,000
Total 40,00,000 50,00,000
____________
SY-449 22
Particulars March 31, 2020 March 31, 2021
I. Equity and Liabilities
(a) Equity share capital 20,00,000 22,00,000
(b) Reserves and surplus 8,00,000 10,00,000
(c) Current liabilities 12,00,000 18,00,000
Total 40,00,000 50,00,000
II. Assets
(a) Fixed assets 28,00,000 31,00,000
(b) Current assets 12,00,000 19,00,000
Total 40,00,000 50,00,000
____________
SY-449 22
Page 24
40.
:
31, 2020 31, 2021
I.
(a) 20,00,000 22,00,000
(b) 8,00,000 10,00,000
(c) 12,00,000 18,00,000
40,00,000 50,00,000
II.
(a) 28,00,000 31,00,000
(b) 12,00,000 19,00,000
40,00,000 50,00,000
____________
SY-449 23 P.T.O.
:
31, 2020 31, 2021
I.
(a) 20,00,000 22,00,000
(b) 8,00,000 10,00,000
(c) 12,00,000 18,00,000
40,00,000 50,00,000
II.
(a) 28,00,000 31,00,000
(b) 12,00,000 19,00,000
40,00,000 50,00,000
____________
SY-449 23 P.T.O.
Page 25
SY-449 24
Document Details
| Board / Org | Kerala Board |
| Exam | Class 12 |
| Type | Question Paper |
| Pages | 25 |
| Updated | 24 Sep 2026 |