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ANSWER KEY (UNOFFICIAL)
SECOND YEAR HIGHER SECONDARY EXAMINATION MARCH 2022
ACCOUNTANCY WITH COMPUTERISED ACCOUNTING
Max. Score : 60 Time : 2 Hours
Qn. Sub. Value Points Score Total
No Qn. Score
1 (b) Interest on Drawings 1 1
2 (d) Accumulated loss 1 1
3 (a) Old ratio 1 1
4 (d) Dissolution of firm 1 1
5 (b) Credit side of partners capital account 1 1
6 24000X10/100X5.5/12 = 1100 2 2
7 Ratio in which the remaining partners share the profit of retiring or 2 2
deceased partner. (any meaningful definition)
8 Basis Fixed Capital Account Fluctuating Capital
Account
(i) Number of Two accounts, Capital A/c One account, Capital
accounts and Current A/c for each A/c 3x1 3
partner.
(ii) Adjustments All adjustments for All adjustments for
drawings, drawings,
salary, interest on capital, salary, interest on
etc. are made in the capital, etc. are made
current accounts in the capital accounts
(iii) Fixed balance Capital balance remain Capital balance
fixed. fluctuate from year to
year
(iv) Credit balance Capital A/c always shows Capital A/c sometimes
credit balance shows debit balance
9 AP = 40000, GW = AP x 2 = 40000x2 = 80000 3 3
10
Dissolution of Partnership Dissolution of Firm
It means change in the existing It means dissolution of
agreement between the partners. partnership between all the
partners in the firm. 3x1
Assets and liabilities are revalued Assets are realised and liabilities 3
are paid off
The business of the firm is The business of the firm is closed
continued. down.
11 (a) General Reserve A/c ..Dr 30000 2
To Gireesh A/c 15000
To Fysal Ac 15000
4
Prepared by Dr.K.R.Rajesh Babu, GHSS, Thottada (9447793940)
ANSWER KEY (UNOFFICIAL)
SECOND YEAR HIGHER SECONDARY EXAMINATION MARCH 2022
ACCOUNTANCY WITH COMPUTERISED ACCOUNTING
Max. Score : 60 Time : 2 Hours
Qn. Sub. Value Points Score Total
No Qn. Score
1 (b) Interest on Drawings 1 1
2 (d) Accumulated loss 1 1
3 (a) Old ratio 1 1
4 (d) Dissolution of firm 1 1
5 (b) Credit side of partners capital account 1 1
6 24000X10/100X5.5/12 = 1100 2 2
7 Ratio in which the remaining partners share the profit of retiring or 2 2
deceased partner. (any meaningful definition)
8 Basis Fixed Capital Account Fluctuating Capital
Account
(i) Number of Two accounts, Capital A/c One account, Capital
accounts and Current A/c for each A/c 3x1 3
partner.
(ii) Adjustments All adjustments for All adjustments for
drawings, drawings,
salary, interest on capital, salary, interest on
etc. are made in the capital, etc. are made
current accounts in the capital accounts
(iii) Fixed balance Capital balance remain Capital balance
fixed. fluctuate from year to
year
(iv) Credit balance Capital A/c always shows Capital A/c sometimes
credit balance shows debit balance
9 AP = 40000, GW = AP x 2 = 40000x2 = 80000 3 3
10
Dissolution of Partnership Dissolution of Firm
It means change in the existing It means dissolution of
agreement between the partners. partnership between all the
partners in the firm. 3x1
Assets and liabilities are revalued Assets are realised and liabilities 3
are paid off
The business of the firm is The business of the firm is closed
continued. down.
11 (a) General Reserve A/c ..Dr 30000 2
To Gireesh A/c 15000
To Fysal Ac 15000
4
Prepared by Dr.K.R.Rajesh Babu, GHSS, Thottada (9447793940)
