Kerala Plus One Question Paper 2024 Accountancy with AFS

Kerala Board

Question Paper
2024

Reg. No. : ......................................
FY-449 Name : ...........................................

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

FY-449 1 P.T.O.

Answer any ten questions from 1 to 11. Each carries 1 score. (10  1 = 10)

1. Which of the following is not a business transaction ?
(a) Purchased stationery for business use ` 2,000.
(b) Paid daughter’s tuition fee from personal bank account ` 5,000.
(c) Paid rent by cheque from bank account of business ` 8,000.
(d) Paid wage to employees ` 10,000.

2. Amount invested by the owner in the business is ______.
(a) Purchase (b) Sales
(c) Capital (d) Drawings

3. Journal entry to record Rent received will include
(a) Debit Rent and Credit Cash (b) Debit Cash and Credit Rent
(c) Debit Rent and Credit Capital (d) Debit Cash and Credit Capital

4. Purchased furniture for ` 4,500 from ABC Ltd. Identify the day book to record this
transaction.
(a) Cash Book (b) Purchase Book
(c) Sales Book (d) Journal Proper

5. Repairs to Machinery ` 500 was recorded to Machinery account. Which of the
following error is related to this entry ?
(a) Error of Principle (b) Error of Omission
(c) Error of Commission (d) Compensating error

6. ______ is prepared to verify the arithmetical accuracy of posting to the ledger
accounts.
(a) Cash Book (b) Balance Sheet
(c) Trial Balance (d) Profit and Loss A/c

FY-449 2

1  11    10  .
1  . (10  1 = 10)
1.    ?
(a)   2,000   .
(b)        , ` 5,000.
(c)      , ` 8,000.
(d)   ` 10,000.

2.     ______ .
(a)  (b) 
(c)  (d) 

3.       :
(a)  ,   (b)  ,  
(c)  ,   (d)  ,  

4. ...   4,500   .  
  ( ) .
(a)   (b)  
(c)   (d)  

5.     500   
 .     
 ?
(a)   (b) 
(c)  (d) 

6.       
 ______ .
(a)   (b)  
(c)   (d)   
FY-449 3 P.T.O.

7. Writing off the value of Patents is termed as _____.
(a) Depreciation (b) Depletion
(c) Amortisation (d) None of these

8. Discount allowed shown on ______.
(a) Debit side of Profit and Loss account
(b) Credit side of Profit and Loss account
(c) Debit side of Trading account
(d) Credit side of Trading account

9. _______ reserve is not shown in the Balance Sheet.
(a) General Reserve (b) Specific Reserve
(c) Secret Reserve (d) None of these

10. Interest received during the year 2023-24 amounted to ` 4,000, which includes
interest received in advance during the year amounting to ` 500. What is the amount
of interest to be shown in the Profit and Loss account during the year 2023-24 ?
(a) ` 4,500 (b) ` 4,000
(c) ` 3,500 (d) ` 500

11. Salary outstanding is _______ in Profit and Loss account.
(a) Added to Salary account
(b) Deducted from Salary account
(c) Not considered
(d) Add or deduct from Salary account

Answer any four questions from 12 to 17. Each carries 2 scores. (4  2 = 8)
12. Identify the accounting concepts related with the followings :
(a) Business enterprises will not be liquidated in the near future.
(b) Same accounting method should be used from one accounting period to the
next.
FY-449 4

7.      _____
  .
(a)  (b)  
(c)  (d) 

8.   ______  .
(a)     
(b)     
(c)    
(d)   

9. _______     .
(a)    (b)   
(c)    (d) 

10. 2023-24    4,000  –
2023-24    ` 500.
2023-24       
  ?
(a) ` 4,500 (b) ` 4,000
(c) ` 3,500 (d) ` 500

11.       _______ .
(a)   
(b)   .
(c) 
(d)     .

12  17    4  .
2  . (4  2 = 8)
12.       :
(a)       .
(b)       
  .

FY-449 5 P.T.O.

13. Write any two transactions which will result in the increase and decrease of assets.

14. Write a short note on Bank overdraft.

15. List out any two differences between revenue expenditure and capital expenditure.

16. Classify the following into current assets and fixed assets :
(a) Land and building (b) Debtors
(c) Machinery (d) Stock

17. What is adjustment entry for the following ?
(a) Rent paid in advance
(b) Depreciation on machinery

Answer any seven questions from 18 to 26. Each carries 3 scores. (7  3 = 21)
18. Find out the accounting terms for the following :
(a) Profit arises from the events incidental to business.
(b) Money or goods withdrawn by the owner from the business for personal use.
(c) Person who owes money to the business for buying goods on credit.

19. “All expenses incurred whether paid during the year or not should be taken into
account.”
(a) Identify the accounting concept.
(b) Explain it.

20. Prove the accounting equation for the following transactions :
(a) Started business with cash ` 80,000
(b) Purchased goods ` 30,000
(c) Sold goods (costing ` 10,000) for ` 12,000

FY-449 6

13.        
.

14.       .

15.        
.

16.      
 :
(a)   (b) 
(c)  (d) 

17.     ?
(a)   .
(b)   .

18  26    7  .
3  . (7  3 = 21)
18.      :
(a)      .
(b)     
  .
(c)       
 .

19.        
  .
(a)   .
(b)   .

20.       :
(a) 80,000    .
(b) 30,000   .
(c) 10,000    12,000  .

FY-449 7 P.T.O.

21. List out any three reasons which causes differences between the balances of Pass book
and Cash book.

22. Identify the errors for the following and explain it.
Purchased goods for ` 5,400 recorded as ` 4,500.

23. Prepare a table showing the differences between straight line method and diminishing
balance method of charging depreciation.

24. Compute the cost of goods sold.
`
Sales 2,00,000
Purchases 1,50,000
Wages 10,000
Stock (1-4-2022) 30,000
Stock (31-3-2023) 40,000
Carriage inward 10,000

25. Find out the amount to be debited to Profit and Loss account.
Debtors ` 30,000
Bad Debts ` 2,000
Provision for Bad debts 5% on debtors.

26. Show how the following items will appear to the financial statement of a business
organization :
(a) Wages paid ` 6,000
(b) Wages prepaid ` 500

Answer any five questions from 27 to 32. Each carries 5 scores. (5  5 = 25)
27. Match Column A with Column B.
A B
(a) Loan from Bank (i) Intangible asset
(b) Computer Software (ii) Source document
(c) Cash at Bank (iii) Revenue
(d) Sales (iv) Current assets
(e) Voucher (v) Liabilities

FY-449 8

21.     
    .

22.     . 5,400
   4,500  .

23.      
    .

24.   .
`
 2,00,000
 1,50,000
 10,000
 (1-4-2022) 30,000
 (31-3-2023) 40,000
  10,000

25.      .
 ` 30,000
 ` 2,000
   5%.

26.       
  :
(a)   ` 6,000
(b)    ` 500

27  32    5  .
5  . (5  5 = 25)
27.      .
 
(a)   (i)  
(b)   (ii)  
(c)   (iii) 
(d)  (iv) 
(e)  (v) 
FY-449 9 P.T.O.

28. Write a short note on GST.

29. Prepare a purchase day book from the following transactions :
2022
Jan. 1 Purchased from Sangi & Co.
10 Refrigerator of ` 25,000
4 Colour TV of ` 30,000
Trade discount 5%
Jan. 5 10 Washing-machine of ` 15,000
5 Air-conditioner of ` 20,000
Trade discount 2%

30. Prepare a Bank reconciliation statement from the following :
(a) Balance as per cash book ` 28,000
(b) Cheque issued but not presented ` 4,000
(c) Cheque presented but not collected ` 7,000
(d) Bank charges debited in pass book ` 400
(e) Electricity bill paid by bank ` 3,000

31. Rectify the following errors :
(a) Wages paid ` 7,000 debited to employees personal account.
(b) Sales day book overcast by ` 1,000.
(c) Purchased goods for ` 4,500 recorded in sales book.
(d) Rent paid ` 5,400 recorded as ` 4,500.
(e) Cash paid to Ram ` 3,000 posted to Raheem account.

32. A plant was purchased on 1-4-2022 for ` 80,000. It has a life time of 10 years and a
scrap value of ` 5,000. Calculate depreciation under Straight line method and prepare
Plant account for the first four years.

FY-449 10

28. ..     .

29.         :
2022
. 1  &   
10  25,000 
4   30,000  
  5%
. 5 10   15,000 
5   20,000  
  2%

30.      :
(a)    28,000 
(b)    4,000 
(c)    7,000 
(d)       400 
(e)    3,000 

31.     :
(a) 7,000      
 .
(b)   1,000   .
(c) 4,500      
(d) 5,400    4,500 
(e)  3,000    .

32. 1-4-2022  80,000     .  10  
 5,000  .  
 .     
.
FY-449 11 P.T.O.

Answer any two questions from 33 to 35. Each carries 8 scores. (2  8 = 16)
33. Journalise the following transactions of M/s. Life Line Ltd :
2023
March 1 Started business with cash ` 5,00,000
2 Opened a bank account ` 50,000
4 Purchased goods ` 75,000
8 Purchased furniture from Popular Traders ` 48,500
12 Sold goods for ` 18,700
15 Paid rent by cheque ` 8,000
22 Withdrew cash from banks for office use ` 5,000
26 Paid salaries ` 10,000

34. Prepare a Double column cash book from the following transactions of Arya Ltd. :
2022
Jan. 1 Cash in Hand ` 12,000
Cash at Bank ` 18,000
4 Cash Sales ` 6,000
6 Purchased goods ` 4,500
8 Wages paid ` 4,000
9 Cash deposited into bank ` 2,000
12 Purchased goods by cheque ` 4,000
14 Received cash from Mahesh ` 5,000
16 Cheque received from Rajeev ` 4,500
18 Paid insurance premium by cheque ` 2,400
19 Payment for cash purchase ` 3,000
20 Paid rent by cheque ` 2,000
22 Cheque received from Rajeev deposited into bank ` 4,500
25 Cash withdrew from bank for office use ` 4,000
28 Cash withdrew from bank for personal use ` 1,500
FY-449 12

33  35    2  .
8  . (2  8 = 16)
33.       
 :
2023
 1     ` 5,00,000
2     ` 50,000
4   ` 75,000
8      ` 48,500
12   ` 18,700
15     ` 8,000
22       ` 5,000
26   ` 10,000

34.       
 :
2022
. 1   ` 12,000
  ` 18,000
4   ` 6,000
6   ` 4,500
8   ` 4,000
9    ` 2,000
12     ` 4,000
14     ` 5,000
16     ` 4,500
18     ` 2,400
19     ` 3,000
20    ` 2,000
22       ` 4,500
25       ` 4,000
28       
` 1,500

FY-449 13 P.T.O.

35. The following information extracted from the Trial Balance of Global Traders for the
year ended 31st March, 2023 :
Amount Amount
Debit Balance Credit Balance
(`) (`)
Opening Stock 30,000 Capital 1,00,000
Rent 2,000 Creditors 25,000
Wages 4,000 Bills payable 18,000
Machinery 60,000 Sales 1,50,000
Building 90,000 Purchase return 1,000
Purchases 70,000 Loan 15,000
Sales return 2,000 Bank overdraft 6,700
Salary 8,000
Bad debts 1,500
Trade expenses 2,400
Insurance 3,000
Furniture 5,000
Repairs 1,200
Debtors 24,000
Travelling expense 1,800
Cash 2,800
Bank 8,000
3,15,700 3,15,700

Adjustments :

(a) Closing Stock ` 20,000

(b) Wages outstanding ` 2,000

(c) Salaries prepaid ` 1,000

(d) Depreciate Building and Machinery at 5% p.a.

Prepare Trading and Profit and Loss account for the year ended 31st March, 2023 and
a Balance Sheet.

_______________

FY-449 14

35.   2023  31    
      :
 
   
(`) (`)
  30,000  1,00,000
 2,000  25,000
 4,000   18,000
 60,000  1,50,000
 90,000   1,000
 70,000  15,000
  2,000   6,700
 8,000
 1,500
 2,400
 3,000
 5,000
 1,200
 24,000
 1,800
 2,800
 8,000
3,15,700 3,15,700
 :
(a)   ` 20,000
(b)   ` 2,000
(c)    ` 1,000
(d)   5%    
.
2023  31      .

_______________

FY-449 15 P.T.O.

FY-449 16