ACCOTANCY WITH COMPUTR ACCOUTING Max.Marks:60 PART I - ACCOUNTANCY 1.

When capital account are maintained under fixed method,then drawings account is closed by transferring to................... a) debit side of current account b) credit side of current account c) debit side of capital account d) credit side of capital account 2.binu & Cinu are praters decide to admit John as a new partner to the firm.what are the right he get from the firm 3)Find out the oddone. a) Joint Life Policy reserve b)investment fluctuation fund c) Reserve Fund d) depreciation reserve 4.Securities premium is shown under the ------------------- head of balance sheet 5. Ram, Raju & Rani are partners sharing profit in the ratio of 4:3:2. Raju retires, the new ratio will be.......................... (1*5=5) 6. Anoop a plus two student prepared the following journal entries in connection with reconstitution the partnership. a) for increasing value of assets Revaluation A/c Dr Assets b) for decreasing value of liability Liability A/c Dr Revaluation 2 marks 7.X Ltd purchased machinery for Rs 90000 from S Ltd.The company decided to issue 9% debenture for the consideration after 5 yrs at a discount of 10%. Give journal entries. 3 marks 8.A business has an average profit of Rs25000 for the last 4 yrs . Its capital employed is 1,00,000 and normal rate of return is 10% .Calculate the value of goodwill under Super profit method. (3 marks) 9. a)Z Ltd issued 10% debentures of Rs 10000 at par and redeemed after 5 yrs at par. b) Z Ltd issued 10% debentures of Rs 10000 at discout of 10% redeemed after 5 yrs at par c)Z Ltd issued 10% debentures of Rs 10000 at a premium of 10% and redeemed after 5 yrs at par d)Z Ltd issued 10% debentures of Rs 10000 at parof 10% and redeemed after 5 yrs at a premium of 10% e) Z Ltd issued 10% debentures of Rs 10000 at a discount of 10% and redeemed after 5 yrs at premium of 10 %. give journal entries to the above transaction. 5 marks 10.X and Y are partners in a firm sharing profit in the ratio of 2:3 . They contributed Rs 100000 and Rs 150000 as their capital . They was entitled to interest on capital @6% p.a. and Y a commission of Rs 4000. X withdraw Rs 2000 and Y Rs 1500 from the business for personal use. Interest on the same being Rs 600 and Rs 400 they earned net profit 60000 before changing the above adjustment. Prepare profit and loss adjustment A/c and Capital A/c. 4 marks 11.Sun Ltd issued 2000 shares of Rs 100 each at Rs 110 payable as follows Rs. 25 on application Rs. 35 on allotment Rs. 30 on I call

Rs. 20 on final call 1800 share were applied and alloted. All monies were received with the exception of I call of 200 by Raji. These share were forfeited. Give journal entries cash book and companies balance sheet. (4 marks) 12. Aneesh, Bineesh and Rajesh are partners sharing profit in the ration 2/3:1/6:1/6 respectively following was the balance sheet 31-12-2009 On the above data Rajeesh decided to retire and it was agreed between the parters that; 1) Furniture was to depreciated by Rs. 300 2) Reserve for doubtful debts at 5 % should be made on debtors. 3) Value of plant and machinery was to be reduced by 10 and stock should be valued at Rs.14000/4) Land and building are appreciated by 15% 5) Good will of the firm be valued at Rs.24000/Liability Amount Assets Amount Sundry Crs. Bank O.D. B/P Reserve Capital Aneesh Bineesh Rajeesh 4000 10000 6000 3000 15000 20000 25000 83000 Cash at bank Furniture Sundry Dr. Stock Plant & Machinery Land & Building 3000 7000 24000 13000 16000 20000

83000

Prepare revaluation Ac., Partners capital a/c and Balance sheet after retirement. (6 Marks) 13. a) On 1st January 2008, the firm of Right and Left was dissolved. They shared profits in the ration of 3:2. Their Balance Sheet on 31st December 2007 was as follows. Liabilities Rs. Assets Rs. Capitals Right Left Reserve Fund Rights loan Sundry creditors 30,000 25,000 10,000 10,000 20,000 Plant & Machinery Patents Stock Sundry debtors 19000 Less Provision 1000 Cash 40,000 6,000 25,000 18,000 6000

95000 95000 Right took over the patents at a valuation of Rs.5000. Left took over the Stock at a valuation of Rs.22,000. Other assets realised as under. Good will Rs.15,000 Plant and Machinery Rs. 30,000 Sundry debtors Rs. 18,500 Sundry creditors were paid off at a discount of 5% Expenses of realisation amounted to Rs.3,500. Show various ledger accounts to close the books of the firm. OR b) DLF Ltd. Issued for public subscription 30,000 equity shares of Rs.10 each at a premium of

Rs.5 per share payable as under: On application : Rs 4 per share On allotment Rs.6 per share (including premium) On first call Rs.3 per share On final call Rs.2 per share Applications were received for 50,000 shares. Allotment was made pro-rata to the applicants for 45,000 shares, the remaining applications being rejected. The excess money paid by the applicants to whom shares were allotted, was applied towards sum due on allotment. Amal to whom 500 shares were allotted failed to pay the allotment money and Kamal to whom 1000 shares were allotted failed to pay the two call.s These shares were forfeited subsequent to the calls and after fulfilling the legal procedure. The company reissued these forgeited shares @ Rs.8 per share as fully paid up. Journalise these transactions assuming that calls in arrears account is maintained in the book of the company. COMPUTER ACCOUNTING 1. The function key used to change current period is -------- (a. Alt+F2, b. F2, c. Alt+2) 2. ---------- voucher is used for adjusting shortage or leakage of stock 3. Under which group is you will place carriage outward 4. The intersection of row and column in excell is called (1 x 4 = 4) 5. What do you mean by electronic spread sheet 6. How can you create a godown 7. What is cost centre (3 x 2 = 6) 8. Mention the steps to be followed for preparing budgets 9. What are the steps to be followed in preparing bank reconciliation statement ( 2 x 3 = 6) 10. Explain the default accounting voucher type in tally. OR 11. Explain the steps to be followed for preparing final account by a company which maintain account only. ( 1 x 4 = 4)