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CBSE Class 12 Accountancy Solved Query Paper (Paper Code: 67/1/1, 2020)


ACCOUNTANCY
Class 12

Time allowed : 3 Hours
Most Marks : 80
Paper Code: 67/1/1(CBSE 2020)

Common Directions :

Learn the next directions very rigorously and strictly comply with them :

(i) This query paper contains two Elements – A and B. There are 32 questions within the query paper. All questions are obligatory.

(ii) Half A is obligatory for all candidates. 

(iii) Half B has two choices i.e. (1) Evaluation of Monetary Statements and (2) Computerized Accounting. You need to try solely one of many given choices.

(iv) Heading of the choice opted have to be written on the Reply-Ebook earlier than trying the questions of that exact OPTION.

(v) Query nos. 1 to 13 and 23 to 29 are very quick answer-type questions carrying 1 mark every.

(vi) Query nos. 14 and 30 are quick reply kind–I questions carrying 3 marks every.

(vii) Query nos. 15 to 18 and 31 are quick reply kind–II questions carrying 4 marks every.

(viii) Query nos. 19, 20 and 32 are lengthy reply kind–I questions carrying 6 marks every.

(ix) Query nos. 21 and 22 are lengthy reply kind–II questions carrying 8 marks every.

(x) Solutions needs to be temporary and to the purpose. The reply of every half needs to be written at one place.

(xi) There isn’t any general alternative. Nevertheless, an inside alternative has been supplied in 2 questions of three marks, 2 questions of 4 marks, 1 query of six marks and 2 questions of eight marks. You need to try solely one of many selections in such questions.

(xii) Nevertheless, separate directions are given with every half and query, wherever obligatory.

PART A

( Accounting for Not-for-Revenue Organizations, Partnership Companies and Firms)

1. In case the companions’ capitals are mounted, during which account will withdrawal of capital be recorded ?

Reply: Capital Account

2. Meera, Myra and Neera have been companions sharing income within the ratio of two : 2 : 1. They determined to share future income within the ratio of seven : 5 : 3 with impact from 1 st April, 2019. Their Steadiness Sheet as on that date confirmed a stability of 45,000 in Commercial Suspense Account. The quantity to be debited respectively to the capital accounts of Meera, Myra and Neera for writing off the quantity in Commercial Suspense Account will likely be :

(A) ₹ 18,000, ₹ 18,000 and ₹ 9,000

(B ₹ 15,000, ₹ 15,000 and ₹ 15,000

(C) ₹ 21,000, ₹ 15,000 and ₹ 9,000

(D) ₹ 22,500, ₹ 22,500 and Nil

Reply: (A) ₹ 18,000, ₹ 18,000 and ₹ 9,000

3. Mona and Tina have been companions in a agency sharing income within the ratio of three : 2. Naina was admitted with 1/sixth  share within the income of the agency. On the time of admission, Workmen’s Compensation Reserve appeared within the Steadiness Sheet of the agency at ₹ 32,000. The declare on account of workmen’s compensation was decided at ₹ 40,000. Extra of declare over the reserve will likely be:

(A) Credited to Revaluation Account.

(B) Debited to Revaluation Account.

(C) Credited to previous companion’s Capital Account.

(D) Debited to previous companion’s Capital Account.

Reply: (B) Debited to Revaluation Account.

4. Diya, Riya and Tiya have been companions sharing income and losses within the ratio of two : 3 : 5. Tiya died on twenty eighth November, 2019. Her share of revenue was taken equally by Diya and Riya. Diya’s share of revenue within the new agency will likely be _________ .

Reply: Diya’s share of revenue within the new agency = frac{9}{20}

Rationalization: 

Tiya’s share within the revenue = frac{5}{10}

Diya will acquire frac{1}{2}             of frac{5}{10}            = frac{1}{2}timesfrac{5}{10}=frac{1}{4}

Diya’s share of revenue within the new agency = frac{2}{10}+frac{1}{4}=frac{9}{20}

5. X and Y have been companions in a agency sharing income within the ratio of seven : 3. Z was admitted for 1/fifth share within the income which he took 75% from X and remaining from Y. Calculate the sacrificing ratio of X and Y.

Reply: Sacrificing ratio of X and Y = 3:1

Rationalization:

Sacrificing ratio of X = frac{1}{5}timesfrac{3}{4}=frac{3}{20}      (75% or frac{3}{4}     from X)

Sacrificing ratio of Y = frac{1}{5}timesfrac{1}{4}=frac{1}{20}     (25% or frac{1}{4}     from Y)

6. Identify an merchandise that’s by no means proven on the fee aspect of Receipts and Funds Account, however is proven on the debit aspect of the Revenue and Expenditure Account.

Reply: Depreciation on Mounted Property

7. A, B and C have been companions in a agency sharing income and losses within the ratio of 5 : 3 : 2. C retired and his capital stability after changes relating to reserves, collected income/losses and his share of acquire on revaluation was ₹ 2,50,000. C was paid ₹ 3,22,000 together with his share of goodwill. The quantity credited to C’s capital account, on his retirement, for goodwill will likely be :

(A) ₹ 72,000

(B) ₹ 7,200

(C) ₹ 24,000

(D) ₹ 36,000

Reply: (A) ₹ 72,000

8. Rahul, Sahil and Jatin have been companions in a agency sharing income and losses within the ratio of 4 : 3 : 2. Rahul died on fifteenth October 2017. At the moment, the capitals of Sahil and Jatin after all of the changes have been ₹ 3,56,000 and ₹ 2,44,000 respectively. Sahil and Jatin determined to regulate their capital in line with their new profit-sharing ratio by opening present accounts. Calculate the brand new capitals of Sahil and Jatin.

Reply: New capital of Sahil and Jatin will likely be ₹3,60,000 and ₹2,40,000 respectively.

Rationalization:

The brand new profit-sharing ratio of Sahil and Jatin will likely be 3 : 2.

Complete capital of the brand new agency = Outdated capital of Sahil + Outdated capital of Jatin

Complete capital of the brand new agency = ₹3,56,000 + ₹2,44,000 = ₹6,00,000

Sahil’s capital within the new agency =  ₹6,00,000timesfrac{3}{5}=₹3,60,000            

Jatin’s capital within the new agency =  ₹6,00,000timesfrac{2}{5}=₹2,40,000            

9. Solar and Star have been companions in a agency sharing income within the ratio of two : 1. Moon was admitted as a brand new companion within the agency. New profit-sharing ratio was 3 : 3 : 2. Moon introduced the next belongings in the direction of his share of goodwill and his capital :

 

If his capital is taken into account as ₹ 3,80,000, the goodwill of the agency will likely be : 

(A) ₹ 70,000

(B) ₹ 2,80,000

(C) ₹ 4,50,000

(D) ₹ 1,40,000

Reply: (B) ₹ 2,80,000

Rationalization: 

Share of Goodwill of Moon = Complete quantity introduced in by Moon – Share of Capital of Moon

Share of Goodwill of Moon = ₹4,50,000 – ₹3,80,000 = ₹70,000

Goodwill of the agency = Share of Goodwill of Moon X Reciprocal of the profit-sharing ratio of Moon

Goodwill of the agency = 70,000timesfrac{8}{2}=₹2,80,000

10. Rohan, Mohan, and Sohan have been companions sharing income equally. On the time of dissolution of the partnership agency, Rohan’s mortgage to the agency will likely be:

(A) Credited to Rohan’s Capital Account.

(B) Debited to Realisation Account.

(C) Credited to Realisation Account.

(D) Credited to Financial institution Account.

Reply: (D) Credited to Financial institution Account.

11. Extra of difficulty value of a debenture over its face worth is named ________ .

Reply: Debenture Premium

12. Which of the next statements doesn’t relate to ‘Reserve Capital’ :

(A) It’s a part of uncalled capital of an organization.

(B) It can’t be used throughout the lifetime of an organization.

(C) It may be used for writing off capital losses.

(D) It’s a part of subscribed capital.

Reply: (D) It’s a part of subscribed capital.

13. Identify an merchandise which is transferred to credit score aspect of Realisation Account on the time of dissolution of partnership agency, however doesn’t contain money fee.

Reply: Companion’s Capital A/c (When any asset is taken over by a companion)

14. How would the next objects be handled whereas making ready the monetary statements of a sports activities membership? 

 

Reply:

 

 

OR

From the next info of a charitable dispensary, calculate the quantity of medicines consumed throughout the 12 months that would seem within the Revenue and Expenditure Account for the 12 months ending thirty first March, 2019 :

 

Reply:

 

15. Ram, Mohan and Sohan have been companions sharing income within the ratio of two : 1 : 1. Ram withdrew ₹ 3,000 each month and Mohan withdrew ₹ 4,000 each month. Curiosity on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about curiosity on drawings. Exhibiting your working clearly, go the mandatory adjustment entry to rectify the error.

Reply:

 

Workings:

(i)

 

(ii)

Curiosity on Drawings of Ram = 36,000timesfrac{6}{100}timesfrac{6}{12}

Curiosity on Drawings of Mohan = 48,000timesfrac{6}{100}timesfrac{6}{12}

OR

Yadu, Vidu and Radhu have been companions in a agency sharing income within the ratio of 4 : 3 : 3. Their mounted capitals on 1st April, 2018 have been ₹ 9,00,000, ₹ 5,00,000 and ₹4,00,000 respectively. On 1st November, 2018, Yadu gave a mortgage of ₹ 80,000 to the agency. As per the partnership settlement : 

(i) The companions have been entitled to an curiosity on capital @ 6% p.a.

(ii) Curiosity on companions’ drawings was to be charged @ 8% p.a.

The agency earned income of ₹ 2,53,000 (after curiosity on Yadu’s mortgage) throughout the 12 months 2018-19. Companions’ drawings for the 12 months amounted to Yadu : ₹ 80,000, Vidu : ₹ 70,000 and Radhu : ₹ 50,000. Put together Revenue and Loss Appropriation Account for the 12 months ending thirty first March 2019.

Reply:

 

16. Furkan, Tanmay and Barkat have been companions in a agency sharing income within the ratio of three : 2 : 1. The agency closes its books on thirty first March yearly. Tanmay died on thirty first July, 2019. His executor was entitled to :

(i) His capital ₹ 8,00,000 and his share of goodwill which was valued for the agency at ₹ 96,000

(ii) His share of revenue as per partnership settlement, which was to be calculated on the premise of common revenue of final 3 years. Common income of the final 3 years have been ₹ 78,000. 

(iii) Tanmay’s executors have been paid ₹ 95,000 by cheque on the time of his loss of life and the stability was transferred to his executor’s mortgage account. 

Go the mandatory journal entries within the books of the agency, on Tanmay’s loss of life, for the above transactions.

Reply:

 

Workings:

(i) Common Revenue = ₹78,000

Revenue upto the date of loss of life = Average~profittimesfrac{No.~of~Months~up~to~the~date~of~death}{12}

Revenue as much as the date of loss of life = 78,000timesfrac{4}{12}=26,000

Share of Revenue of Tanmay = 26,000timesfrac{2}{6}=8,666.67

(ii) Agency’s Goodwill = ₹96,000

Tanmay’s Share of Goodwill = 96,000timesfrac{2}{6}=16,000

It is going to be distributed within the gaining ratio of three:1 between Furkan and Barkat.

17. Raunit Types Ltd. was registered with a capital of ₹ 85,00,000 divided into fairness shares of ₹ 100 every. The corporate invited purposes for issuing 45,000 shares. The quantity was payable as ₹ 25 on software, ₹ 35 on allotment, ₹ 25 on first name and stability on ultimate name. Purposes have been obtained for 42,000 shares and allotment was made to all of the candidates. Kavi, to whom 3,300 shares have been allotted, didn’t pay each the calls. His shares have been forfeited. 

Current the Share Capital within the Steadiness Sheet of the corporate as per Schedule III of the Firms Act, 2013.

Reply:

 

Notes to Accounts:

 

18. Go the mandatory journal entries for the next transactions on the dissolution of the partnership agency of Tony and Rony after the varied belongings (aside from money) and exterior liabilities have been transferred to Realization Account : 

(i) An unrecorded asset of ₹ 2,000 and money ₹ 3,000 was paid for legal responsibility of ₹ 6,000 in full settlement.

(ii) 100 shares of ₹ 10 every have been taken over by companions at market worth of ₹ 20 per share of their revenue sharing ratio, which is 3 : 2.

(iii) Inventory of ₹ 30,000 was taken over by a creditor of ₹ 40,000 at a reduction of 30% in full settlement.

(iv) Bills of realisation ₹ 4,000 have been to be borne by Rony. Rony used the agency’s money for paying these bills.

Reply:

 

19. From the next Receipts and Funds Account of Dee Membership for the 12 months ending 31 st March, 2019 and extra info, put together an Revenue and Expenditure Account for the 12 months ending thirty first March, 2019 :

 

(i) The membership has 400 members, every paying an annual subscription of ₹ 150.

(ii) Salaries paid included ₹ 3,150 for the 12 months 2017-18 and excellent salaries for the 12 months 2018-19 have been ₹ 4,250.

(iii) 9% investments have been made on thirtieth November, 2018. The membership had the same funding of ₹ 8,000 at the start of the 12 months.

(iv) Depreciate furnishings @ 10% p.a. No depreciation is charged on the furnishings bought.

Reply:

 

Workings:

(i) Complete curiosity on funding = (8,000timesfrac{9}{100})+(3,000timesfrac{9}{100}timesfrac{4}{12})=₹810

20. (i) Vayee Ltd. bought the next belongings of E.X. Ltd. : 

Land and Constructing of ₹ 60,00,000 at ₹ 84,00,000; Plant and Equipment of ₹ 40,00,000 at ₹ 36,00,000

The acquisition consideration was ₹ 1,10,00,000. Cost was made by accepting a Invoice of Alternate in favour of E.X. Ltd. of ₹ 20,00,000 and remaining by difficulty of 8% debentures of ₹ 100 every at a premium of 20%.

File the mandatory journal entries for the above transactions within the books of Vayee Ltd.

Reply:

 

(ii) Zed Ltd. issued 2,00,000, 8% debentures of ₹ 100 every at a reduction of 6% redeemable at a premium of 10% after 5 years. The quantity was payable as follows :

On software – ₹ 50 per debenture and On allotment – stability.

File the mandatory journal entries for the problem of debentures within the books of Zed Ltd.

Reply:

 

OR

Mahesh Ltd. had issued 20,000, 10% debentures of ₹100 every. 8,000, 10% debentures have been due for redemption on thirty first March, 2019. The corporate had a stability of ₹ 4,40,000 within the Debenture Redemption Reserve Account on thirty first March, 2018. The corporate invested the required quantity within the Debenture Redemption Funding on 1st April, 2018. Go the mandatory journal entries for redemption of debentures. Ignore the entries for curiosity on debentures.

Reply:

 

Notice: Since DRR already exists with greater than 25% of the nominal worth of debentures within the query, it has been assumed that redemption is completed ‘out of income’ and 100% of of the nominal worth of debentures is transferred to DRR.

21. Badal and Bijli have been companions in a agency sharing income within the ratio of three : 2. Their Steadiness Sheet as at thirty first March, 2019 was as follows :

 

Raina was admitted on the above date as a brand new companion for 1/sixth share within the income of the agency. The phrases of settlement have been as follows :

(i) Raina will carry ₹ 40,000 as her capital and capitals of Badal and Bijli will likely be adjusted on the premise of Raina’s capital by opening present accounts.

(ii) Raina will carry her share of goodwill premium for ₹ 12,000 in money.

(iii) The constructing was overvalued by ₹ 15,000 and inventory by ₹ 3,000.

(iv) A provision of 10% was to be created on debtors for dangerous money owed.

Put together the Revaluation Account and Present and Capital Accounts of Badal, Bijli and Raina.

Reply:

 

 

 

Workings:

(i) New revenue sharing ratio = 3 : 2 : 1

Capital of the agency (Based on Raina’s Capital) = 40,000timesfrac{6}{1}=2,40,000

Capital in line with the brand new revenue sharing ratio:

Badal’s Capital = 2,40,000timesfrac{3}{6}=1,20,000

Bijli’s Capital = 2,40,000timesfrac{2}{6}=80,000

OR

Prem, Kumar, and Aarti have been companions sharing income within the ratio of 5 : 3 : 2. Their Steadiness Sheet as at 31 st March, 2019 was as underneath :

 

On the above date, Kumar retired. The phrases of retirement have been :

(i) Kumar bought his share of goodwill to Prem for ₹ 8,000 and to Aarti for ₹ 4,000.

(ii) Inventory was discovered to be undervalued by ₹ 1,000 and constructing by ₹ 7,000.

(iii) Investments have been bought for ₹ 11,000.

(iv) There was an unrecorded creditor of ₹ 7,000.

(v) An quantity of ₹ 30,000 was paid to Kumar in money which was contributed by Prem and Aarti within the ratio of two : 1. The stability quantity of Kumar was settled by accepting a Invoice of Alternate in favour of Kumar.

Put together the Revaluation Account, Capital Accounts of companions and the Steadiness Sheet of the reconstituted agency.

Reply:

 

 

 

22. (i) R.P. Ltd. forfeited 1,500 shares of Rahim of ₹ 10 every issued at a premium of ₹ 3 per share for non-payment of allotment and first name cash. Rahim had utilized for 3,000 shares. On these shares, quantity was payable as follows : 

On software – ₹3 per share

On allotment (together with premium) – ₹5 per share

On first name – ₹3 per share

On ultimate name – Steadiness

Ultimate name has not been known as up. 1,000 of the forfeited shares have been reissued for ₹ 8,500 as absolutely paid-up.

File the mandatory journal entries for the above transactions within the books of R.P. Ltd.

Reply:

 

Workings:

(i) Calculation of the quantity forfeited:

 

(ii) Max Ltd. forfeited 500 shares of ₹ 100 every for non-payment of first name of ₹ 20 per share and ultimate name of ₹ 25 per share. 250 of those shares have been re-issued at ₹ 50 per share absolutely paid-up.

Go the mandatory journal entries within the books of Max Ltd. for forfeiture and re-issue of shares. Additionally put together the Share Forfeiture Account.

Reply:

 

 

OR

Karur Ltd. invited purposes for issuing 2,40,000 fairness shares of ₹ 10 every at a premium of ₹ 4 per share. The quantity was payable as underneath :

On software – ₹ 4 per share (together with premium ₹ 2)

On allotment – ₹ 4 per share

On first and ultimate name – ₹ 6 per share (together with premium ₹ 2)

Purposes for 3,00,000 shares have been obtained and pro-rata allotment was made to all of the candidates. Extra software cash obtained on software was adjusted in the direction of sums due on allotment. All calls have been made and have been duly obtained besides from Rohini, who didn’t pay allotment and first and ultimate name on 7,500 shares utilized by her. These shares have been forfeited. Afterwards, 40% of the forfeited shares have been re-issued at ₹ 11 per share as absolutely paid-up.

Go the mandatory journal entries within the books of Karur Ltd. Open call-in-arrears and call-in-advance accounts wherever obligatory.

Reply:

 

PART B
OPTION 1
(Evaluation of Monetary Statements)

23. State anyone limitation of Monetary Assertion Evaluation.

Reply: It ignores qualitative points as the standard of administration, high quality of employees and many others. are ignored whereas finishing up the evaluation of economic statements. 

24. State the influence of ‘Payments Receivable discounted dishonoured on the due date’ on the liquid ratio of 0·75: 1. Additionally give cause in assist of your reply.

Reply: No Change, as a result of it leads to a rise in belongings (debtors) and reduces in one other asset (financial institution) with the identical quantity.

25. State whether or not the next assertion is true or false. 
‘Stock Turnover Ratio measures the extent of economic leverage.’

Reply: False

26. The entire debtors of X Ltd. have been ₹ 9,00,000. It had created a provision of 10% for dangerous and uncertain money owed. What quantity of debtors will likely be used for calculating the ‘Commerce Receivables Turnover Ratio’?

Reply: ₹9,00,000

27. Give an instance of an exercise which is at all times financing close to the Money Move Assertion.

Reply:  Cost of dividend 

28. On 1.10.2018, Micro Ltd. issued 20,000, 8% debentures of ₹ 100 every and paid curiosity of ₹ 80,000 on these debentures on 31 st March, 2019. Calculate the money stream from financing actions for the interval ending 31 st March, 2019.

Reply: 

 

29. An funding usually qualifies as cash-equivalent solely when from the date of acquisition it has a brief maturity interval of :

(A) One month or much less

(B) Three months or much less

(C) Three months or extra

(D) One 12 months or much less

Reply: (B) Three months or much less

30. Calculate the ‘Complete Property to Debt Ratio’ from the next info :

 

Reply: 

Complete Property to Debt ratio = frac{Total~Assets}{Debt}

Complete Property = Shareholders’ Funds + Complete Debt

= 7,50,000 + 19,50,000

= ₹27,00,000

Debt = Complete Debt – Present Legal responsibility

= 19,50,000 – 4,50,000

=  ₹15,00,000

Complete Property to Debt ratio = frac{27,00,000}{15,00,000}

Complete Property to Debt ratio = 1.8 : 1

OR

Beneath which main head/sub-head will the next objects be offered within the Steadiness Sheet of an organization as per Schedule III, Half I of the Firms Act, 2013?

(i) Pc software program

(ii) Calls-in-advance

(iii) Excellent wage

(iv) Securities Premium Reserve

(v) Patents

(vi) Curiosity accrued on Funding

Reply:

 

31. From the next info, put together Comparative Assertion of Revenue and Loss :

 

Reply:

 

OR

Put together a standard dimension Steadiness Sheet of L.X. Ltd. from the next info :

 

Reply:

 

32. (i) From the next info of Nova Ltd., calculate the money stream from investing actions :

 

Extra Data :

Throughout the 12 months, a machine costing ₹ 50,000 on which the accumulate depreciation was ₹ 35,000, was bought for ₹ 12,000.

Reply:

 

Working Notes:

 

 

(ii) The revenue of Jova Ltd. for the 12 months ended 31 st March, 2019 after appropriation was ₹ 2,50,000.

Extra Data :

 

The next was the place of its Present Property and Present Liabilities as at 31 st March, 2018 and 2019.

 

Calculate the Money stream from working actions.

Reply: 

 

Working Notes:

(i) Web Revenue = 2,50,000 + Switch to basic reserve

= 2,50,000 + 22,500

Web Revenue = ₹2,72,500

PART B
OPTION 2
(Computerised Accounting)

23. When the collected knowledge from varied sources is processed in a single shot it’s known as :

(A) Actual Time Processing

(B) Information Validation

(C) Processing and Revalidation

(D) Batch Processing

Reply: (D) Batch Processing

24. Top of an individual is a ___________ attribute whereas educational qualification will be ___________ attribute.

Reply: Top of an individual is a Single Worth attribute whereas educational qualification will be Multi Worth attribute.

25. Identify the accounting subsystem which offers with recording of various objects bought and issued specifying the value, amount and knowledge.

(A) Buy and Accounts Payable subsystem

(B) Expense Accounting subsystem

(C) Stock subsystem

(D) Costing subsystem

Reply: (C) Stock subsystem

26. Match the motion of mouse with the keystrokes :

 

(A) (i) (c) and (ii) (a)

(B) (i) (b) and (ii) (d)

(C) (i) (a) and (ii) (d)

(D) (i) (b) and (ii) (c)

Reply: (B) (i) (b) and (ii) (d)

27. A ___________ question is used to extract combination of knowledge objects for a bunch of information somewhat than an in depth set of information.

Reply: A Abstract question is used to extract combination of knowledge objects for a bunch of information somewhat than an in depth set of information.

28. A ##### error seems when :

(A) A detrimental knowledge is used.

(B) Column will not be vast sufficient.

(C) Damaging time is used.

(D) All the above

Reply: (D) All the above

29. The existence of knowledge in a main key area is :

(A) Not essentially required.

(B) Required however needn’t be distinctive.

(C) Required and have to be distinctive.

(D) All the above

Reply: (C) Required and have to be distinctive.

30. Write and clarify the system to calculate ‘Dearness Allowance’ and ‘Gross Wage’.

Reply:

Dearness Allowance = BPE X (Relevant fee of DA for the month)

The place,

BPE = frac{BPtimes~NOED}{NODM}

BP = Fundamental Pay

NOED = Variety of Efficient Days Current

NODM = Variety of Days in a Month

Gross Wage =  BPE + DA + HRA +TRA

The place,

 HRA = Home Hire Allowance

TRA = Transport Allowance

OR

Clarify ‘Contra voucher’ and ‘Receipt voucher’.

Reply: (i) Contra Voucher: It’s used when money is deposited within the financial institution from the workplace and when money is withdrawn from the financial institution for workplace use. It’s used solely within the case of fund switch between Money and Financial institution solely.

(ii) Receipt Voucher: Receipt Voucher is used to file all of the receipts or influx of cash within the enterprise. All of the receipts resembling Debtors, Mortgage, Advances, Refund of Mortgage, and many others. are recorded underneath the receipt voucher.

31. State any 4 limitations of a computerised accounting system. 

Reply: Limitations of Computerised Accounting System:

1. Enormous Price:  Incurring enormous prices in coaching the specialised personnel to make them perceive the usage of accounting software program is without doubt one of the main disadvantages of the computerised accounting system. There are important prices related to organising a computerised accounting system and periodically updating totally different {hardware} and software program.

2. Requires Correct Management: A computerised accounting system shops a big quantity of crucial knowledge. Because of this, correct management have to be maintained to stop knowledge loss.

3. Resistance: Introduction of a computerised accounting system might result in protest or resistance from its present workers. It is perhaps due to their insecurity or fear that the implementation of such a system may lower their significance within the organisation.

4. Interruption: Changing from a guide accounting system to a computerised accounting system takes plenty of time. The workforce might have extra time to develop into used to the brand new working setting, which might end in low productiveness.

OR

What is supposed by ‘knowledge validation’? Give two examples when the cell will give error if the values should not assembly the situations.

Reply: Information Validation is used to outline restrictions on the kind of knowledge entered right into a cell. It offers person the management to obtain specific inputs.

You possibly can undergo ‘What’s Information Validation in Excel?’ for extra particulars.

32. Identify the error which seems on the display screen of your pc whereas utilizing Excel, when the system refers to a deleted cell. Additionally clarify learn how to right that error.

Reply: The error that seems on the display screen of your pc whereas utilizing Excel is a #REF! error.

This error happens when a cell reference will not be legitimate. To right this error following steps needs to be adopted:

(i) Click on the cell which shows the error and see if it shows calculation steps. 

(ii) Evaluation the doable causes.

 To right the error delete the cell referred to within the system.

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