Plus One Accountancy Previous Year Question Paper 2018

Kerala Plus One Accountancy Previous Year Question Paper 2018

Time Allowed: 2 hours
Cool off time: 15 Minutes
Maximum Marks: 60

General Instructions to Candidates

  • There is a ‘cool off time of 15 minutes in addition to the writing time of 2 hrs.
  • Use the ‘cool off time’ to get familiar with the questions and to plan your answers.
  • Read the instructions carefully
  • Read questions carefully before you answering.
  • 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.

Plus One Accountancy Previous Year Question Papers and Answers 2018 16
Answer all questions from question number 1 to 9. Each carries score.
Plus One Accountancy Previous Year Question Papers and Answers 2018 17

Question 1.
Notebooks purchased by a stationery shop comes under……..
a. Assets
b. Income
c. Purchases
d. Liabilities
Plus One Accountancy Previous Year Question Papers and Answers 2018 18

Question 2.
Fill in the blank.
………….A/c Dr.
To Thomas & Co.A/c
(Purchased Machinery from Thomas & Co.)
a. Purchase
b. Cash
c. Machinery
d. Goods
Plus One Accountancy Previous Year Question Papers and Answers 2018 19

Question 3.
Ramesh, a dealer of Television, sold old furniture to Rafeeque for Rs. 3,000 on credit. Identify the day book to record this transac­tion.
a. Purchase day book
b. Journal proper
c. Sales day book
d. Cash book
Plus One Accountancy Previous Year Question Papers and Answers 2018 20

Question 4.
Bank Reconciliation Statement is prepared by…..
a. Bank
b. Depositor
c. Creditor
d. Debtor
Plus One Accountancy Previous Year Question Papers and Answers 2018 21

Question 5.
Rent paid Rs.4,500 was entered in cash book as Rs. 5,400. This is an error of…..
a. Principle
b. Omission
c. Compensating error
d. Commission
Plus One Accountancy Previous Year Question Papers and Answers 2018 22

Question 6.
…………….reserve is not shown in the Bal­ance Sheet.
a. Secret
b. General
c. Revenue
d. Capital
Plus One Accountancy Previous Year Question Papers and Answers 2018 23

Question 7.
James sold goods for Rs. 10,000 to Rajeev and a promissory note was prepared for a period of 2 months and endorsed to Raheem. Who is the drawer of the promissory note?
a. James
b. Rajeev
c. Raheem
d. None of these
Plus One Accountancy Previous Year Question Papers and Answers 2018 28

Question 8
……………….. account is prepared by a trader, who does not maintain the double entry system of accounting, to find out the value of credit purchase.
a. Total creditors
b. Total debtors
c. Bills receivable
d. Bills payable
Plus One Accountancy Previous Year Question Papers and Answers 2018 29

Question 9.
Find the odd one out.
a. Keyboard
b. Mouse
c. MICR
d. Printer
Plus One Accountancy Previous Year Question Papers and Answers 2018 30

Answer any five from question numbers 10 to 15 Each carries two scores.
Plus One Accountancy Previous Year Question Papers and Answers 2018 31

Question 10.
Identify the accounting principles related to the following:
a. Purchased 10 kg of raw materials for Rs. 5,000 was entered in the books of account asRs. 5,000.
b. Assets of a business are always equal to the claims of owners and outsiders.
Plus One Accountancy Previous Year Question Papers and Answers 2018 33

Question 11.
Rectify the following errors.
a. Sold goods for Rs. 7,000 to Sangi & Co., entered in Purchase day book.
b. Rent paid Rs. 4,000 debited to Landlord. account.
Plus One Accountancy Previous Year Question Papers and Answers 2018 58

Question 12.
Insurance premium of Rs. 6,000 was paid for a period of one year on 1st April 2015. How the transaction will be treated while preparing fi­nancial statements for the year ending 31st December 2015?
Plus One Accountancy Previous Year Question Papers and Answers 2018 34

Question 13.
Write any two features of using computers in accounting.
Plus One Accountancy Previous Year Question Papers and Answers 2018 35

Question 14.
Match the column A with column B.
Plus One Accountancy Previous Year Question Papers and Answers 2018 59

Question15.
Write the name of any two attributes of the entity employee in an organization.
Plus One Accountancy Previous Year Question Papers and Answers 2018 36

Answer any three from question numbers 16 to 19. Each carries three scores.
Plus One Accountancy Previous Year Question Papers and Answers 2018 37

Question 16.
In a business organization, goods are known in different names. Write the names used for the goods in the following cases.
a. Goods remaining unused at the end of the year.
b. Goods returned by the buyer due to break­age in transit.
c. Goods sold for cash and credit.
Plus One Accountancy Previous Year Question Papers and Answers 2018 38
Plus One Accountancy Previous Year Question Papers and Answers 2018 39

Question 17.
Royal Furniture received an order for making a dining table on 10th May 2017 and they com­plete the work on 15th July 2017. The dining table was delivered to the customer on 20th July 2017 and received the payment on 25th July 2017. On which date this transaction will be recorded in the books of the Royal Furniture? Why?
Plus One Accountancy Previous Year Question Papers and Answers 2018 40

Question 18.
A Trial Balance is given below. Rewrite it, if there is any mistake.
Plus One Accountancy Previous Year Question Papers and Answers 2018 41
Question 19.
Write a short note on a key attribute with an example.
Plus One Accountancy Previous Year Question Papers and Answers 2018 42

Answer any two from question numbers 20 to 22 Each carries four scores.
Plus One Accountancy Previous Year Question Papers and Answers 2018 43

Question 20.
Prepare Minerva Traders A/c from the following information for the month of December 2017.
Plus One Accountancy Previous Year Question Papers and Answers 2018 60

Question 21.
Compute the cost of goods sold and gross profit with the help of the following information.
Plus One Accountancy Previous Year Question Papers and Answers 2018 46
Plus One Accountancy Previous Year Question Papers and Answers 2018 47

Question 22.
From the following particulars, find out total purchases.
Plus One Accountancy Previous Year Question Papers and Answers 2018 48

Answer question numbers 23 and 24. Each car­ries five scores.
Plus One Accountancy Previous Year Question Papers and Answers 2018 53

Question 23.
Prepare a Bank Reconciliation Statement as on 31st December, 2017.
Plus One Accountancy Previous Year Question Papers and Answers 2018 50

Question 24.
On 4th May 2014, Rajan sold goods to Kabheer for Rs. 25,000. Kabheer paid Rs. 5,000 immediately in cash and accepted a bill drawn by Rajan for the balance amount for a period of 2 months. On maturity date, Kabheer requested Rajan to cancel the old bill and to draw a new bill upon him for a period of 3 months. He also agreed to pay interest at 6% p.a.in cash. Rajan to cancel the old bill and to draw a new bill upon him for a period of 3 months. He also agreed to pay interest at 6% p.a. in cash. Rajan agreed and cancelled the old bill and drew a new bill. The new bill was accepted and met by Kabheer on the due date. Pass the journal entries in the books of Rajan.

Question 25.
Prepare a double column cash book from the following transactions for the month of January 20l8.
Plus One Accountancy Previous Year Question Papers and Answers 2018 54

Question 26.
On 1st July 2014 M/s. Golden Stores purchased a second-hand plant for Rs. 85,000, spent Rs. 10,000 for its overhauling and Rs. 5,000 for installation. Another plant was purchased on 1st January 2016 for
Rs. 50,000. It was decided to charge depreciation at 10% on original cost, On July 1st, 2016, the plant purchased on 1st July 2014 was sold for Rs. 75,000. Prepare a plant account up to 31st December 2017.
Plus One Accountancy Previous Year Question Papers and Answers 2018 55

Answer question number 27, which carries eight scores
Plus One Accountancy Previous Year Question Papers and Answers 2018 56
Question 27.
The following is the Trial Balance extracted from the books of Arya Traders for the year ended 31st March 2017.
Plus One Accountancy Previous Year Question Papers and Answers 2018 57
Plus One Accountancy Previous Year Question Papers and Answers 2018 61
Additional information:

  1. The closing stock was valued at Rs. 45,000.
  2. Salaries paid only up to 31st January 2017.
  3. Insurance prepaid Rs. 800.
  4. 10% p.a. on debtors.
  5. Depreciate building at 5% p.a. and furni­ture at 10% p.a. Prepare Trading and Profit & Loss account for the year end­ed 31st March 2017 and a Balance Sheet as on that date.

Plus One Accountancy Previous Year Question Papers and Answers 2018 62

Answer

Answer 1.
a. Purchase

Answer 2.
c. Machinery

Answer 3.
b. Journal proper

Answer 4.
b. Depositor.

Answer 5.
d. Commission.

Answer 6.
a. Secret

Answer 7.
b. Rajeev

Answer 8.
a. Total creditors

Answer 9.
d. Printers

Answer 10.
a. Money measurement concept
b.Dual Aspect / Duality principle
or Accounting equivalent concept

Answer 11.
Plus One Accountancy Previous Year Question Papers and Answers 2018

Answer 12.
Plus One Accountancy Previous Year Question Papers and Answers 2018 1

Answer 13.
Features in computers in accounting
1. Online input and storage of data, speed, accuracy.
2. Printout of purchase and sales invoices, the codification of accounts, grouping of, accounts, instant reports etc.

Answer 14.
a.Data processing – covert data into information
b. Front-end interface – Link between user and software
c. Reporting system – Pinal output
d. Back-end database – Data storage system.

Answer 15.
Employee ID, Employee Name, Employee Age, Employee sex, Employee Department etc.

Answer 16.
a. Closing stock: It is the amt of inventory that business still has on hand at the end of reporting period.
b. Sales return or Return Inward: Return of goods by the customer ( solid earlier) to the business.
c. Sales: IT is the revenue or income earned by a business through the sale of goods and services.

Answer 17.
Revenue Recognition Concept (Realisation Concept)
The concept says that the revenue for a business transaction should be included in the accounting records at the time when the title of goods passes from seller to buyer, unearned or unrealised revenue should not be taken into account.

Answer 18.
Trial Balance As on 31st March 2017
Plus One Accountancy Previous Year Question Papers and Answers 2018 2

Answer 19.
Attributes are characteristics of entities that further describes the entity such as height, weight, date of birth, name, ID etc.
The different types of attributes are:

  1. Simple or Atomic attributes: Attributes that cannot be further subdivided into smaller parts.
    Eg: height of a person
  2. Composite attributes: Attribute that can be subdivided into smaller subparts.
    Eg: Name into First Name, Middle,
  3. Single-valued attribute: An attribute with a single value for an entity.
    Eg: Age has an only single value
  4. Multi-valued attribute: An attribute with multiple values.
    Eg: Educational qualific­ations
  5. Stored attribute: A basic attribute that contains some stored value is called a stored attribute.
    Eg: From the date of birth age is derived.
  6. Derived attribute: The attribute derived from a stored attribute is called derived attri­butes
    Eg: From the date of birth age is derived and age is called derived attributes.
  7. Complex attribute: A multi-valued attri­bute may be nested or grouped within pare­ntheses ( ) or curly braces { } to constitute a complex

Plus One Accountancy Previous Year Question Papers and Answers 2018 3

Answer 20.
Plus One Accountancy Previous Year Question Papers and Answers 2018 4

Answer 21.
Cost of goods sold = opening stock + Purchase + Direct = Expenses – closing stock
= 60000 + ( 30000 – 2000) + 50000 + 10000 -80000
= 60000 + 298000 + 60000 – 80000 = 338000
Gross profit = Sales ( Net) – Cost of goods sold = ( 400000 – 3000) – 338000 = 59000
Plus One Accountancy Previous Year Question Papers and Answers 2018 5

Answer 22.
Total purchases = Cash purchase + credit purchase. Cash purchase = 47000 Credit purchase
Plus One Accountancy Previous Year Question Papers and Answers 2018 6

Answer 23.
Plus One Accountancy Previous Year Question Papers and Answers 2018 7

Answer 24.
Plus One Accountancy Previous Year Question Papers and Answers 2018 9
Plus One Accountancy Previous Year Question Papers and Answers 2018 10

Answer 25.
Plus One Accountancy Previous Year Question Papers and Answers 2018 11

Answer 26.
Plus One Accountancy Previous Year Question Papers and Answers 2018 12

Answer 27.
Plus One Accountancy Previous Year Question Papers and Answers 2018 13
Plus One Accountancy Previous Year Question Papers and Answers 2018 14
Plus One Accountancy Previous Year Question Papers and Answers 2018 15

Plus One Accountancy Previous Year Question Papers and Answers