HSE X11 TOTAL SCORE-60 TIME 2 HOURS ACCOUNTING WITH COMPUTERISED ACCOUNTING 1.

On dissolution of partnership firm amount realized from un recorded asset is credited to ( Realisation a/c, Revalution a/c ,Capital a/c) 2.Certain companies are formed for promotion of arts,sports,science,culture etc these are companies (a. limited by shares,b.limited by guarantee,c. with unlimited liability d. None of these. 3. In connection with the admission of Mr. Rajeevan and ravi as equal partners one of the existing partners Mr. Salim has taken over the plant and equipment wit Rs. 25000 at Rs. 20000/-at the time of admission. Give journal entry to this effect. (2) 4. A sports club or a charitable institution can be formed into a joint stock company. Do you agree with this? If yes explain it (2) 5. Manju and Lekshmi were sharing profits in ratio of 2:1. They now agree to share the profits in the ratio of 1:2. How will you adjust the goodwill of the firm Rs, 15000/- to capital a/c (2) 6. A and B are partners who decided to dissolve thye firm. The assets other than cash Rs. 5000 of the firm realized Rs. 1,15000/-. The liability and other particulars are as follows:Creditors Rs. 42000,As Capital Rs. 100000,Bs Capital Rs. 15000(Dr Balance),Profit and Loss a/c Rs. 7000/-(Dr. Balance), Realisation Expenses Rs. 1500. Asertain the assets of the firm on the date of realization. (3) 7.Sibi Electrical Co. Ltd. Got certificate of commencement of business on 6th March 2007. They decided to issue 50,000 shares at Rs. 100 at a discount of 10% on 10th Sept 2007. Is it legal? If not ,state the reason.(3) 8. Hindustan Co. Ltd forfeits 2000 shares of Rs. 10 each held by April on which he has paid Rs. 3 per share .On application Rs. 3On allotment Rs. 2 and Rs. 2 per share on first call, But failed to pay the final call Rs. 3 per share. Give journal entry to record the forfeiture of shares.(3). 9. Suja , Tinu,Minu were partners sharing profits in the ratio of 9:7:4. Tinu retires from the firm. Amount due to Tinu on retirement on account of goodwill was agreed to be Rs. 84000/- .Calculate new and gaining ratio If Suja contributes Rs/- 48000/- and Minu Rs.36000/- to pay out Tinu.(3). 10.Can the shares be issued at a discount? If so, State the legal requirements for issuing shares at a discount.(4). 11. The B/S of Tankam, Tinu and Manu , sharing profits and losses as 3: 2:1 respectively stood as follows on June 30,2008. Liabilities Creditors 50000 Joint life policy Reserve 10,400 Reserve Fund 12000 Assets Cash at Bank Stock Debtors Investment 3000 20800 62600 16000

Capital Thankam 30000 Tinu 20,000 Manu 10000

Furniture building

6500 23500

------------------------132000 132000 ====== ======= The firm was dissolved on that date . For the purpose of dissolution,the investments were valued at Rs 18000 and stock at Rs 17500. Thankam agreed to take over investment and Tinu to take over stock. Manu took over Furniture at book value. Debtors and Building realized Rs 57000 and Rs 25000 respectively.Expences of realization amounted to Rs 450. In addition one bill for Rs 500 under discount was dishonored and had to be taken up by the firm. Prepare necessary ledger a/c to close the books of the firm. (8) 12. Batchan Co. Ltd having an authorized capital of Rs 30,00000 issued 150000 equity
shares of Rs. 3000000 issued 1,50000 equity shares of Rs,10 each at a premium of Rs.2per share payable as follows: On application Rs.2 On allotment Rs.6 (including premium) On First call Rs.2 On Final Call Rs.2 Only 120000 shares were subscribed for and the co. received all the amount due with the exemption of the first and final call amount on 600 shares. These shares were forfeited and reissued as fully paid at Rs.. 7per share. Pass necessary journal entries .in the books of the co.(8) PART B.

1. Which among the following is related to the F 11 features? a. Stock category b. Stock group C. Godown d. Budget (1) 2. Five numbers are entered in spred sheet starting from cell A1 to A5.Write any two formulae for getting the total of those numbers in cell A6(2). 3. Complete the path which is required to show the cost centres already created by the users .Gateway of tally-?- cost centre -? (2) 4. After creating necessary ledger account Mr. Renjith displayed the list of ledger.He found that the Gopals a/c is wrongly spelt as Gopis a/c. How can You rectify it in Tally. (3). 5. Sini a commerce student intends to prepare a bank reconciliation statement after creating necessary ledger a/c and voucher entries.(a) Which ledger is to be selected by Sini to create the bank reconciliation statement.(b) Mention the possible path to arrive at this ledger in Tally (3) 6. Calculate Depreciation under two methods using spread sheet? (4) 7. Computerised Accounting Plus Two student Arjun says computer can substitute human brain . But another student Asha says No . Can you identifie who is correct Arjun or Asha?. Critically examine the statement. (5).