apopenschool.org : Senior Secondary Accountancy Question Paper Model AP Open School Society

Board : Andhra Pradesh Open School Society
Exam : Senior Secondary Accountancy
Document type : Model Question Paper
Website : apopenschool.org

Download Sample/ Model Question Papers : https://www.pdfquestion.in/uploads/6092-Intermediate%20Model%20Question%20Papers.pdf

Accountancy – Model Question Paper :

Andhra Pradesh Open School Intermediate
Time : 3 Hrs.
Max. Marks : 100

Related : AP Open School Society Senior Secondary Commerce Question Paper Model : www.pdfquestion.in/6090.html

Section – A Marks : 4 x 10 = 40 M
Note : Answer any four of the following questions. not exceeds 40 lines each
1. What do you mean by Accounting concepts. Explain different accounting concepts?
2. Describe the role of computers in Accounting?
3. Discuss the accounting treatment of goodwill on retirement of a partner.
4. Describe the debenture and mention the types of debentures
5. Distinguish between capital expenditure and Revenue expenditure?

6. From the following Trail Balance of Ms. Narsimhan & Co., Prepare Trading, Profit and Loss Account for the year ending 31, March 2010 and Balance sheet on the date.
TRAIL BALANCE
Particulars Balances Particulars Balances
Opening Stock 27,600 Capital 1,30,000
Purchases 1,04,000 Bills Payable 36,000
Wages 8,000 Sales 1,48,800
Sales return 4,800 Purchase returns 3,000
Land & Building 80,000 Discount received 900
Plant & Machinery 49,000 Sundry Creditor 2,300
Bills receivables 24,000 Interest 1,900
Sundry Debtors 11,000 Reserve for doubtful debits 500
Cash in Hand 17,500 Loan 26,000
Office Rent 4,400 Commission 1,400
Bad debits 800
Insurance 3,000
Freight Inward 2,800
Fuel & Power 4,900
Furniture 9,000
3,50,800 3,50,800

Adjustments :
1. Closing stock Rs. 50,000/-
2. Write off depreciation on furniture 10%, Plant & Machinery 20%
3. Provide for wages outstanding Rs. 650. Ret outstanding Rs. 200, Prepaid Insurance Rs. 300
4. Provision for doubtful debts on debentures 5%
5. Interest on Capital 8%

7. Ram Reddy and Ranga Reddy are partners. Sharing Profit & Loss in the ratio of 3:2 respectively. Their Balance sheet as on 31 December 2009 was as under
BALANCE SHEET :
Liabilities Amount Assets Amount
Creditors 56,000 Cash in Hand 6,000
Capitals Cash at Bank 46,000
Ram Reddy 1,40,000 Debtors 38,000
Ranga Reddy 1,40,000 2,80,000 Buildings 1,30,000
Furniture 30,000
Machinery 26,000
Stock 60,000
3,36,000 3,36,000

on the date they admit Gopinath into Partnership for 1/3 share in future profits on the following terms and conditions
(i) Furniture and stock are to be depreciated by 10%
(ii) Building is appreciated by Rs. 40,000
(iii) 5% Provision is to be created on debtors for doubtful debts
(iv) Gopinath is to bring Rs. 1,00,000 as Capital and Rs, 60,000 as Goodwill. make necessary Ledger accounts and balance sheet of new firm.

8. From the summerised cash account of DVK Ltd prepare Cash flow statement for the year ended 31 December 2010 in accordance with As-3 (Revised / using) direct method. The company does not have any cash equalance

Summerised Cash Account :
Particulars Amount Particulars Amount
Balance as 1-1-2010 50,000 Payment to suppliers 20,00,000
Issue of Equity shares 3,00,000 Purchase of Fixed Assets 2,00,000
Receipts from Customers 28,00,000 Overhead Expenses 2,00,000
Sale of Fixed Assets 1,00,000 Wages & Salaries 1,00,000
Taxation 2,50,000
Dividends 50,000
Repayment of Bank Loan 3,00,000
Balance as on 31-12-2010 1,50,000
32,50,000 32,50,000
Additional Information
Next profit before tax for the year 2010 was Rs. 5,00,000
or

Option – II :
Jain & Co. Maintains its store ledger on the FIFO method. Following is a summary of the receipts and issued of raw material during the month of November 2010
November 2010 :
01. Opening Balance – 500 units @ 20/- per unit
03. Material requisition No. 17, – 100 units
06. Purchase order No. 28 – 200 units @ 20/- per unit
13. Purchase order No. 31, 40 units @ 21/- per unit
16. Material requisiton No. 19 – units 500
22. Purchase order No. 36, 500 units @ 21/- per unit
28. Martial requisition No. 30, 250 units
30. Shortage 20 units

Section – B :
Marks : 6 x 6 = 36 M
Note : Answer any six questions of the following not exceeding 10 lines each
9. Identify the difference between book keeping and accounting?
10. What is suspense accounts? How the errors rectified through this account?
11. Mention the contents of the Partnership Deed?

12. Differentiate financial accounting & Cost accounting
13. Analyse the difference between capital income and Revenue income
14. Distinguish between equity shares and Preference shares?

15. Journalise following Transactions in the books of Sri Venugopal & Sons
1 Jan 2010 Venugopal started business with cash Rs. 2,00,000
2 Jan 2010 Goods purchased for cash Rs. 15,000
4 Jan 2010 Machinery purchased for cash Dayakar Rs. 40,000
8 Jan 2010 Goods sold to Krishna Reddy Rs. 5,000
15 Jan 2010 Goods sold for cash Rs. 3,000
31 Jan 2010 Rent paid Rs. 2,000

16. From the following particulars of M/s Vidya Reddy prepare Bank Reconciliation Statement as on 31st December 2010
a) Bank Balance as per Cash Book Rs. 40,000
b) Cheque deposited in bank but not credited upto 31st December Rs. 12,000

c) Cheques issued but not presented for payment Rs. 9,000
d) Bank credited Rs. 8000 for receiving dividend through electronic clearing system
e) Bank charges debited in pass book by bank Rs. 650