1)

2)
3)
4)
5)
6)

Second YEAR EXAMINATION 2016-17

PLUS TWO ACCOUNTANCY WITH CA ANSWER KEY
Dissolution of the firm
Old Ratio + Gaining Ratio
Accumulated Losses Transferred to old partners in their old ratio
6%
Old Ratio = 3:1
New Ratio=9:3:4
Sacrificing Ratio=3:1
.
Sacrificing Ratio
Gaining Ratio
a) It is calculated on the admission
a) It is calculated on the retirement /
of a partner
Death of a partner
b) It decrease the share of old
b) It increase the share of remaining
Partners
partners
Retirement
a) It is usually planned
b) Payment himself

7)

8)

Death
a) It may occur on any day without
notice
b) Payment his heirs

a) Calculation of New Ratio and sacrificing Ratio

b) Revaluation of assets and liabilities
c) Treatment of goodwill (Any Three)

a) Profit for the last year =

2,00,000
Ashraf share
=
2,00,000 x 3/12 x 4/10 = 20000
b) Profit and loss suspense Dr
20000
To Ashraf Capital
20000
9) Gaining Ratio
=
2:3
Cs share of goodwill
=
36000 x 4/9
=16000
As Capital
Dr
6400
Bs Capital
Dr
9600
To Cs capital
16000
10) Old Ratio
=
3:2:1
New Ratio
= 9:5:4:6
Total capital
=
1,20,000
a) Required Capital of A = 120000x9/24
=
45000
Cash brought by A
= 45000-40000
=
5000
Cash Dr
5000
To As capital
5000
b) Required Capital of B = 120000 x 5/24
=
25000
Cash withdrawn by B = 35000 25000 = 10000
Bs Capital Dr
10000
To Cash
10000
c) Required Capital of C = 120000 x 4/24
=
20000

Cash withdrawn by C = 30000 20000 = 10000

Cs Capital Dr
10000
To Cash
10000
d) Required Capital of D = 120000 x 6/24
=
30000
Cash A/C
30000
To Cash
30000
NB: Correct New Capital full mark journal entry not considered
11)

Drawings
Executors loan

Manoj A/C
Balance bld
Reserve
Profit and loss
Good Will
Iqbal 12000
Musthaq 1200

20000
104000

124000

80000
8000
12000
24000

124000

Amount due to legal heirs = 104000 + 40000 + 4000 = 148000

12)

Date
I

Particulars
Bank
Balance c/d

Amount
29600
60000
89600

II

Bank
Balance c/d

27200
40000

III

Bank
Balance c/d

67200
24800
20000
44800

IV

Bank

22400
22400

13)

Bineesh loan A/C

Date
Particulars
I
Binesh Capital
Interest
II

Balance b/d
Interest

Amount
80000
9600
89600
60000
7200
67200

III

Balance b/d
Interest

40000
4800
44800

IV

Balance b/d
Interest

20000
2400
22400

a) Capital employed = 1,50,000

Normal profit = 1,50,000 x 20/100 =30000
Average profit
= 45000
Super profit = 45000-30000=15000
Goodwill = super profit x 100/NRR = 15000 x 100/20 = 75000
b) Old Ratio = 5:3 New Ratio 5:3:2
Sacrificing Ratio = 5:3

Journal Entries
a) Cash
40,000
To Capital
40000
b) Cash
8000
To premium
8000
(i)
Premium 8000
To Shameer
To Anees
(ii)
Shameer 5000
Anees
3000
To Cash
8000
(iii)
Shameer 2500
Anees
1500
To Cash
4000
14) Journal Entries
Date
Particulars
Cash
Dr
To Cs Capital
Cash
Dr
To Premium
Premium
To A
B
Revalution
To plant & Machine
Stock
Furniture
To Revalution
Creditors
To Revalution
Revaluation
To provision Bad
Outstanding
Investment
To Revaluation
Revaluation
To A
B

LF

5000
3000

Debit
40000
10000
10000
3600
6000
4000
3000
3600
3000
8800

Revaluation A/C

Credit
40000
10000
6000
4000
3600
10000
3000
2000
1600
3000
5280
3520

Machinery
Provision
Outstanding
As Capital
Bs Capital

3600
2000
1600
5280
3520

Stock
Furniture
Creditors
Investment

6000
4000
3000
3000

Capital Balance
A
71280
B
47520
C
40000

ANSWER KEY- COMPUTERISED ACCOUNTING

HALF YEARLY EXAMINATION- 2016
1.
2.
3.
4.

(b) CTRL+N
(b) calculate depreciation
(a) $
1.SUMIF syntax SUMIF(range, criteria,sum_range)
2.ROUND syntax ROUND(number,num_digit)
( or any other function
COUNT, COUNTA,COUNTBLANK, COUNTIF,) 1 Score for each
5. 1.The chart area, 2.The plot area, 3.The data points
4. The horizontal and vertical axis 5.The legend 6.A data label
6. A function is a special key word which can be entered into a cell in order to perform and
process the data which is appended within brackets.
Formula Means the mathematical calculation on a set of cells. It start with an =sign
7. 1.Information 2.Warning 3.Stop
( 1 score for each with explanation)
8. Write the procedure for calculating depreciation
1. Open MS Excel (show Path)
2. Enter details (write the details with cell address)
3. Calculate depreciation by using SLN function (Write syntax by using cell address)
( 1 score for each correct step)
9.
No
Button
Voucher
1
F9
Purchase
2
F5
Payment
3
F8
Sales
4
F4
Contra

Ctrl+F8

OR
Step1 create Company (write location)
Step 2 Create ledger (write location)
Step 3 Voucher entry (write location)
Step 4- View Bank A/C (write location)
Step 5 Press F5 and enter bank date
(1 score for each correct answer)

Credit Note