Eal Acc MP Ans 2019
Eal Acc MP Ans 2019
Model Paper
General Certificate of Education (Adv.level) Examination 2019
Part I
1) 3 11) 4 21) 3
2) 4 12) 3 22) 3
3) 5 13) 4 23) 2
4) 2 14) 2 24) 4
5) 4 15) 1 25) 2
6) 2 16) 3 26) 2
7) 1 17) 4 27) 4
8) 3 18) 2 28) 5
9) 3 19) 2 29) 2
10) 3 20) 5 30) 4
34) A L E
1. Decrease Decrease No change
2. Decrease No change Decrease
3. No change No change No change
4. No change No change No change (4 Marks)
49) a) 40 % (2 Marks)
b) 2 years 6 month (2 Marks)
50) a) D (2 Marks)
b) NPV is high (2 Marks)
(20 x 4 = 80 Marks)
Note – 01
Other income (000)
Rent income 660
Note – 02
Profit befor tax is calculated after deducting following expenses
Directors salary 100
Lease interest 50
Property plant & equpment 500
Bank loan interest 120
2 Marks per 4 items
Auditing expenses 100
EPF expense 210
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fhzp kPs;kjpg;G el;lk; 300
(20 Marks)
Note – 03
Income tax
Carrent year tax (2018 / 2019) (8400) x 1/3 2800
Adjustment (2017 / 2018) (40)
2760
Workings (000)
Distribution expenses Administration expense
Distribution expenses 1000 Administration 1700
Business expectation losses 90
(-) Pre paid insurances (200)
890
Other expenses Financial expenses
Land revalution deficit 300 Lease interest 50
Computer revalution losses 400 Bank loan interest 120
700 170
Note – 04
Property plant and equipment (000)
Land Motor Buildings Computer Total
van equipment
Cost – Balance 01.04.2018 4000 6000 5000 2000 17000
(+) Revaluation 1000 - (600) (400) -
1 1
Depreciation adjustment - - (400) (600) (1000)
Balance on 31.03.2019 5000 6000 4000 1000 16000
Accumulated depreciation B/S on 1600 300 400 2300 1
01.04.2018
Sales - - (400) (600) (1000)
Depreciation - 200 100 200 500 1
B / S on 31.03.2019 - 1800 - -- 1800
Carring value 31.03.2019 5000 4200 4000 1000 14200
(4 Marks)
Note – 05
Lease property (000)
Motor van (cost) 1000
Accumulated depreciation (200)
800
Note – 06
Trade receivable (000)
Trade receivable (620 + 280) 900
Allowance for losses expected from trade receivable (90)
810
Note – 07
Cash and cash equalent (000)
Cash balance 540
Petty cash balance 30
Treasury bill (3 months) 900
1470
(20 Marks)
(Total 40 Marks)
5000 000
=
500
= 10000 Pairs. 1
Margine of safty in
3. Expected profit = x Unit contribution
units
1 1
= 15000 x 500
= 7500000.
= 9000000
450
= 20000 Pairs.
(10 Marks)
710 305 60
1
Service department Equal 30 30 (60)
740 335 0
335 000 1
B =
33 500 1
= Rs. 10.
c.
Direct material 650 1
Direct wages A (8 x 80) 640
B (6 x 60) 360 1000 1
Other direct cost 30 1
Prime cost 1680
Over head A (8 x 20) 160 1
B (6 x 10) 60 1 220
Production cost per unit 1900
10% profit 190
Selling price per unit 2090 1
(20 Marks)
60 11.50 690
03. a. 1.
(10 x ½ ) = 5 Marks
Sales journal (000)
Description Value
Pimal 1870
Amal 3850
Transfer to General ledger 5720
(1 Mark)
Purchase ledger (000)
Description Value
Piratheep 3120
Rumesh 2850
Tranfer to General ledger 5970
(1 Mark)
Sales return journal (000)
Description Value
Pimal 65
Amal 55
Transfer to General ledger 120
(1 Mark)
Description Value
Piratheep 125
Rumesh 42
Transfer to General ledger 167
(1 Mark)
(000)
Analysis
Date Description Discoun Value
t Sales Debtros Other Others
income
2.4.19 Sales 12000 12000
7.4 Rent 2000 2000
12.4 Capital 200 200
Pimal 12 2510 2510
Amal 18 4950 4950
30 21660 12000 7460 2000 200
(7 x ½ = 3 ½ Mark)
Analysis
Date Description Discoun Value
t Purchase Creditors Expenses Other
(5 ½ x 11 Marks)
Destors list
Debtors Balance
Amal 1077
Pimal 631
Total 1708
Piratheep A / C Rumesh A / C
Creditors list
Credits Balance
Piratheep 2426
Rumesh 2804
Total 5230
(25 x ¼ = 6 ¼ Marks)
Sales A / C Machinery A / C
B–c/d 17720 Debts 5720 B–c/d 4250 B–c/d 5000
Cash 12000 Cash 750
17720 17720 5000 5000
B–c/f 17720 B–c/d 5000
Furniture A / C
(23 x ¼ = 5 ¾ )
(Total 40 Marks)
04. a.
1. Sales journal
(4 x 1 = 4 Marks)
Grade - 13 (2019) 12 Accounting Marking Scheme
2. Salini A / C Sangavi A / C
B–c/d 50000 Cash 60000 B – c / d 20000 Cash 24000
Sales 30000 Discount 150 Sales 10000 Discount 300
VAT 3000 B – c / d 22850 VAT 1000 Bad debts 6700
83000 83000 31000 31000
B–b/d 22850
Sambavi A / C Samini A / C
B–c/d 16000 Cash 15000 B–c/d 14000 Cash 13000
Sales 16000 Discount 600 Sales 20000 Discount 280
VAT 1600 B – c / f 18000 VAT 2000 Baddebts 400
33600 33600 B–c/d 22320
B–c/d 18000 36000 36000
B–c/d 22320
Debtors list
Debtors Balance
Salini 22850
Sangavi -
Sambavi 18000
Samini 22320
63170
(21 x ½ = 10 ½ Marks)
3. General ledger
(11 x ½ = 5 ½ Marks)
Description Analysis
Date Value
Leading Cleaning Travelling Others
&
unloading
5.1.19 Loading 1000 1000
8.1 Three weeler 800 800
10.1 Cleaning 1100 1100
14.1 Unloading 900 900
16.1 Drawings 2000 2000
18.1 Rent 1500 1500
20.1 Cleaning 1200 1200
22.1 Malathy 2500 2500
23.1 ticket 1200 1200
25.1 loading 800 800
31.5 Transfered to
general ledges 13000 2700 2300 3500 4500
(10 x ¼ = 4 Marks)
Petty cash A / C
2. Vanavil business
Profit or loss statement for the year ended 31.0 3.2019
54 500
(½ x 8 = 4 Marks)
(Total 40 Marks)
05. a. 1. Cash account
(6 Marks)
2. Life membership fees A / C
(4 Marks)
3. Receipts and payment account.
A P T A P T
Grood will 600 400 200 B–b/f 1200 1200
B–c/d 1200 1 1400 800 Motor van 600 1
1
Cash 400 1
Good will 600 600
1800 1800 1000 1800 1800 1000
B–b/f 1200 1400 800
(4 Marks)
Arani, Poorani, and Tharani partnership’s financial position statement as at 31.03.2019 (000)
Non Current Assets
Property, Plant and equipment 5540
14% Fixed deposit 3000 8540
Current Assets 1
Receivable FD interest 420
Cash 210 630
1 9170
Equity
Capital - A 1200
- P 1400
-T 800 3400
Current A / C - A 1585
- P 910
- T 875 3370
Non current liabilities
Tharani loan 2400
9170
(2 Marks)
(20 Marks)
Operating activities
Profit befor tax 140
Adjustments
Dividend income (51)
Depreciation 52
Interest 70
Motor sales loss 5
Profit before working capital changes 216
Debtors decrease 40
Stock decrease 12
Prepaid operating expenses decrease 8
Creditors decrease (76)
Cash flow generated from operating activities 200
(-) Paid interest (100)
Paid Income tax (50)
Net cash flows generated from operating activities 50
Cash flow statement of Mathavi Ltd for the year ended 31.03.2019.
(000)
Operating activities
Received from debtors 1600
Paid to credits (1000)
(20 x ½ = 10 Marks)
Working (000)
Debtors control A / C Creditors control A / C
B–b/f 540 Cash 1600 Cash 1000 B – b / f 566
Sales 1560 B – b / f 500 B–b/f 490 Purchase 924
2100 2100 1490 1490
B–b/f 500 B–b/f 490
Operating expenses A / C
c. 1. (000)
(½ x 6 = 3 Marks)
2.
Year 1 2 3 4
Cash inflows 1400 1
(4 Marks)
( ½ x 6 = 3 Marks)
(10 Marks)
(Total 40 Marks)