+2 Accountancy CA - Orukkam 2023-Hsscommerce

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പ്ലസ് ടു കൊമേഴ്‌സ്
പഠനപിന്തുണാ സഹായി
ഒരുക്കം ആലപ്പുഴ
2022 - 2023
അക്കൗണ്ടൻസി
Prepared by
1. Sreekumar P.R, T.D.H.S.S, Thuravoor, Alappuzha
2. Harikumar.A, V.V.H.S.S, Thamarakulam, Alappuzha
3. Jagan.H, Govt. HSS, Kidangara, Alappuzha
4. Muhammed Hafeeze V.A, Lajanathul Muhammadiya HSS, Alappuzha
5. Hari.L, Govt. HSS, Kayamkulam, Alappuzha
6. Ajith P.S, SNM Govt. BHSS, Cherthala, Alappuzha

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ORUKKAM 2022-2023
ORUKKAM 2022-23 _ ALAPPUZHA
PART – A
ACCOUNTANCY
Chapter - 1
Accounting for Partnership – Basic Concepts

Partnership Deed
Features of Partnership Document containing rules and regulations of
1. No. of persons – Minimum-2, Maximum-50 a firm
Contents of Deed
2. Agreement – Oral / Written
1. Name of the firm
3. Profit sharing – Agreed ratio / Equally
2. Name and address of partners
4. Liability – Unlimited
3. Nature of business
5. Partnership business must be Lawful
4. Place of business
5. Profit sharing ratio
Rules applicable in the absence of Partnership agreement

If partnership deed is silent, then the following provisions of the Indian Partnership Act, 1932
will become applicable :
1. Profit sharing ratio Equally

2. Interest on Capital Not admissible
3. Interest on Drawings Not to be charged
4. Interest on Loans/Advances 6% p.a
5. Remuneration Not admissible
Question
Ajmal and Bilal are partners in a firm. The firm did not have any partnership deed. Specify
how the following situations are treated :
(a) Sharing of profit and losses.
(b) Interest on advance given by Bilal to the firm
Answer (a) Profits and losses shared equally.
(b) 6% interest is given to Bilal’s loan.
Question : What are the two methods of maintaining Capital Accounts of partners ? Give any
four differences between these two methods.
Plus Two Accountancy+2 Accountancy Page No. 1

ORUKKAM 2022-2023
Answer : There are two methods by which the capital accounts of partners can be
maintained. They are :
(1) Fixed capital method and
(2) Fluctuating capital method
Distinction between Fixed and Fluctuating Capital Method
Basis of distinction Fixed Capital Account Fluctuating Capital Account

(1) Number of Two accounts - Capital account and
One account - Capital account.
accounts Current account .
All adjustments are made in the All adjustments are made in the
(2) Adjustments
current account. capital account.
The capital account balance remain
The balance of the capital account
(3) Fixed balance unchanged unless there is addition
fluctuates from year to year.
to or withdrawal of capital.
The capital accounts always show a The capital account may sometimes
(4) Credit balance
credit balance. show a debit balance.
Format of Partner’s Capital Account (Fluctuating Capital Method)
Partner’s Capital Account
Dr. Cr.
J. Amount J. Amount
Date Particulars Date Particulars
F. ₹ F. ₹
Drawings xxx Balance b/d xxx

Interest on drawings xxx Bank (fresh capital xxx
Profit and Loss introduced)
Appropriation A/c xxx Salaries xxx
(share of loss) Interest on capital xxx
Balance c/d xxx Profit and Loss
Appropriation A/c xxx
(share of profit)
xxxx xxxx
====== =======
Question
Anilkumar and Prakash are partners sharing profits and losses in the ratio of 2 : 1. on 1 st
April, 2021 their capitals were ₹ 5,00,000 and ₹ 3,00,000 respectively. Prepare the capital
accounts of the partners on 31st March 2022 under fluctuating capital method.

ORUKKAM 2022-2023
Particulars Anilkumar (₹) Prakash (₹)
Interest on capital 8% 8%
Drawings during the year 10,000 8,000
Interest on drawings 1,000 800
Salary 7,000 -
Commission - 5,000
Profit for the year after making all the adjustments was ₹ 24,000
Answer
Capital Account
Dr. Cr.
Anilkum
J. Anilkumar Prakash J. Prakash
Date Particulars Date Particulars ar
F ₹ ₹ F ₹
₹
Drawings 10,000 8,000 Balance b/d 5.00,000 3,00,000
Interest on Interest on Capital 40,000 24,000
drawings 1,000 800 Salary 7,000 -
Commission - 5,000
P&L
Balance c/d 5,52,000 3,28,200 Appropriation 16,000 8,000
A/c
----------- ------------- ------------ -------------
5,63,000 3,37,000 5,63,000 3,37,000
======= ======= ======= =======
Profit and Loss Appropriation Account
Format of Profit and Loss Appropriation Account
Profit and Loss Appropriation Account
Dr. Cr.
Amount Amount
Particulars Particulars
₹ ₹
Profit and Loss A/c xxx Profit and Loss A/c xxx
(If there is loss) (If there is profit)
Interest on Capital xxx Interest on Drawings xxx

ORUKKAM 2022-2023
Salary to Partner xxx Partner’s Capital xxx
Commission to Partner xxx (distribution of loss)
Interest on Partner’s Loan xxx
Partner’s Capital Accounts xxx
(distribution of profit)
xxxx xxxx
======= ========
Question
Dasan and Vijayan are partners. Dasan’s capital is ₹10,000 and Vijayan’s capital is ₹ 6,000.
Interest is payable at 6% p.a. Vijayan is entitled to a salary of ₹300 per month. Profit for the
current year before interest and salary to Vijayan is ₹.8,000. Divide the profit between Dasan
and Vijayan.
Answer
Profit and Loss Appropriation A/c
Dr. Cr.
Particulars ₹ Particulars ₹
Interest on capital : Profit and Loss A/c 8,000
Dasan 600 (Net profit transferred)
Vijayan 360
------- 960
Salary to Vijayan 3,600
(Rs.300 x 12)
Capital Accounts :
Dasan 1,720
Vijayan 1,720
--------- 3,440
8,000 8,000
========= =========
Interest on capital
Question
Harilal is a partner in a firm. On 1 st January 2022, his capital account balance was ₹2,20,000.
As per partnership agreement a partner is entitled to 6% interest per annum on his capital.
Harilal introduced additional capital ₹80,000 on 01-07-2022 and withdrew ₹50,000 on 1-10-
2022. Calculate the interest on capital for the year ending 31st December 2022.

ORUKKAM 2022-2023
Answer
Interest on capital
6 6
For ₹2,20,000 = ₹2,20,000 x x = ₹6,600
100 12
6 3
For ₹3,00,000 = ₹3,00,000 x x = ₹4,500
100 12
6 3
For ₹2,50,000 = ₹2,50,000 x x = ₹3,750
12 12
-----------
Total interest on capital = ₹14,850
=======
Interest on Drawings
Question
Binoy withdrew the following amounts from his firm, for personal use during the year ending
March 31, 2022. Calculate interest on drawings by product method, if the rate of interest to
be charged is 7 per cent per annum..
Date Amount
₹
April 1, 2021 16,000
June 30, 2021 15,000
October 31, 2021 10,000
December 31, 2021 14,000
March 1, 2022 11,000
Tips to solve the question

➢ To get the amount of product, multiply the amount of drawings with the period for
which they are withdrawn .
➢ Such multiplied amounts recorded in the ‘ Product’ column.
➢ Find the amount of interest by applying the formula
Rate 1
Interest = Sum of Products x x
100 12

ORUKKAM 2022-2023
Answer
Statement Showing Calculation of Interest on Drawings
Date Amount Time Period Product

₹ ₹
April 1, 2021 16,000 12 months 1,92,000
June 30, 2021 15,000 9 months 1,35,000
October 31, 2021 10,000 5 months 50,000
December 31, 2021 14,000 3 months 42,000
March 1, 2022 11,000 1 month 11,000
Total 4,30,000
===========
1 7 1
Interest = Sum of Products x Rate x =Rs.4,30,000 x x
12 100 12
= ₹2,508
Choose the correct answer

1. Features of Partnership includes
(a) Agreement (b) Profit sharing
(c) Unlimited liability (d) All of these
Answer : All of these
2. Interest on capital of partners under Fixed capital method is credited to
(a) Capital A/c (b) Interest A/c
(c) Current A/c (d) Drawings A/c
Answer : Current A/c
3. In the absence of Partnership deed, Partners are eligible to get which among the
following :
(a) Remuneration (b) Interest on capital @ 6% p.m
(c) Interest on Loan @ 6% p.a (d) Salary
Answer : Interest on Loan @ 6% p.a
4. Interest on capital is calculated on the basis of
(a) Closing capital (b) Opening capital
(c) Average capital (d) Both (a) and (c)
Answer : Opening capital
5. .................. account shows how profit is distributed among partners
(a) Profit & Loss Account (b) Profit & Loss Appropriation A/c
(c) Partners Capital A/c (d) Partners Current A/c
Answer : Profit & Loss Appropriation A/c

ORUKKAM 2022-2023
Chapter – 2
Reconstitution of a Partnership Firm -Admission of a partner
Factors affecting Goodwill Accounting adjustments at the time of admission
of a partner
1. Nature of business
2. Location of business 1. Calculation of New ratio and Sacrificing ratio
3. Efficiency of Management 2. Treatment of goodwill
4. Market Situation 3. Revaluation of Assets and Liabilities
5. Special advantages 4. Treatment of Reserves, Undistributed profits or losses
5. Adjustment of Capital A/c
Question : What are the two rights acquired by a partner at the time of admission to a firm?
Answer : (1) Right to share assets of the firm
(2) Right to share profits of firm

Question : What do you mean by goodwill ?
Answer : Goodwill is the value of the reputation of a firm in respect of the profits
expected in future over and above the normal profits.
Question : What do you mean by Sacrificing ratio ?

Answer : The ratio in which the old partners agree to sacrifice their share of profit in favour
of the incoming partner is called Sacrificing ratio.
Sacrificing ratio = Old ratio – New ratio
Question : What is Super profit ?
Answer : Super profit is the excess of actual average profit over normal return on capital
Question : What is Revaluation A/c ?

Answer : Revaluation A/c is prepared to find out the profit or loss on revaluation of assets
and reassessment of liabilities.
Methods of valuation of Goodwill

1.Average Profit Method
Question
The profit for the five years of a firm are as follows – year 2018 ₹4,00,000; year 2019
₹3,98,000; year 2020 ₹4,50,000; year 2021 ₹4,45,000 and year 2022 ₹5,00,000. calculate
goodwill of the firm on the basis of 4 years purchase of 5 years average profits.
Steps to solve the question

Total Profit
1. Calculate average profit ( )
No . of years
2. Calculate the amount of goodwill (Average Profits x No. of years purchased)

ORUKKAM 2022-2023
Answer
Profit
Year
(₹)
2018 4,00,000
2019 3,98,000
2020 4,50,000
2021 4,45,000
2022 5,00,000
Total 21,93,000
Total Profit 21,93,000

Average Profit = = = ₹4,38,600
No . of years 5
Goodwill = Average Profits x No. of years purchased
= ₹4,38,600 x 4 = ₹17,54,400
2 Super Profit Method

Question
The books of a business showed that the capital employed on December 31, 2022, ₹5,00,000
and the profits for the last five years were : 2018 - ₹40,000; 2019 - ₹50,000; 2020 - ₹55,000 ;
2021 - ₹70,000 and 2022 - ₹85,000. you are required to find out the value of goodwill based
on 3 years purchase of the super profits of the business, given that the normal rate of return
is 10%.
Answer
Average Profits
Year Profit
(₹)
2018 40,000
2019 50,000
2020 55,000
2021 70,000
2022 85,000
Total 3,00,000
Average Profits = ₹3,00,000/5 = ₹60,000
Capital Employed x Normal Rate of Return
Normal Profits =
100
5,00,000 x 10
= = ₹50,000
100
Super Profit = Average Profit – Normal Profit
= ₹60,000- ₹50,000 = ₹10,000
Goodwill = Super profit x No. of years purchase
= ₹10,000 x 3 = ₹30,000

ORUKKAM 2022-2023
3. Capitalisation Method
Question
A partnership firm has earned an average profit of Rs. 50000 during the last few years. Find
out the value of goodwill by capitalisation method, given that the assets of the business are
Rs.350000 and its external liabilities are Rs.190000. The normal rate of return is 20%.
Answer
Goodwill = Capitalised value of average profits - Net Assets
Capitalised value of average profits = Average profitx100/rate = ₹50000x100/20 = ₹250000
Net Assets = Total assets – External liabilities = ₹350000 – ₹190000 = ₹160000
Goodwill = ₹250000 - ₹160000 = ₹90000
Revaluation A/c
Tips for preparing Revaluation Account
1. Increase in the value of asset(Gain) – Credited to Revaluation A/c
2. Decrease in the value of asset(Loss) – Debited to Revaluation A/c
3. Increase in the value of liabilities(Loss)- Debited to Revaluation A/c
4. Decrease in the value of liabilities(Gain) – Credited to Revaluation A/c.
5. Unrecorded assets(Gain) – Credited to Revaluation A/c
6. Unrecorded Liabilities (Loss) – Debited to Revaluation A/c
In short,all gains must be credited to revaluation a/c and all losses must be debited to revaluation a/c
Question
Given below is the Balance Sheet of Anu and Binu who were sharing Profits and Losses in the
ratio of 3 : 2 as on 31st December, 2022
Balance sheet as on 31st December, 2022
Liabilities Amount Assets Amount
₹ ₹
Sundry creditors 27,500 Cash 12,000
Bills payable 12,000 Debtors 27,000
Outstanding expense 2,500 Stock 15,000
Capital : Furniture 20,000
Anu 50,000 Plant and Machinery 58,000
Binu 40,000
---------- 90,000
------------------- ---------------------
1,32,000 1,32,000
========== ===========
Vinu is admitted as a partner on the date of Balance Sheet on the following terms :
(a) Vinu will bring ₹30,000 as capital and ₹12,000 for his share of goodwill for 1/4 share in
profits.
(b) Plant and Machinery is depreciated by ₹8,000.
(c) Stock is found overvalued by ₹3,000.
(d) A provision for doubtful debts is to be created at 10% on debtors.

ORUKKAM 2022-2023
(e) Creditors were unrecorded to the extent of ₹1,000.
Prepare Revaluation Account, Partners Capital Account and the new Balance Sheet
after the admission of Vinu.
Answer Revaluation A/c
Particulars Amount Particulars Amount

₹ ₹
Plant and Machinery 8,000
Stock 3,000 Capital Accounts :
Provision for debts 2,700 Anu 8,820
Unrecorded Creditors 1,000 Binu 5,880
------------- 14,700
----------------- -----------------
14,700 14,700
========= =========
Partner’s Capital A/c
Date Particulars J Anu Binu Vinu Date Particulars J Anu Binu Vinu
F F
Revaluation 8,820 5,880 - Balance b/d 50,000 40,000 -

(Loss) Cash 30,000
Balance c/d 48,380 38,920 30,000 Goodwill 7,200 4,800
---------- ---------- ---------- ---------- ---------- ------------
57,200 44,800 30,000 57,200 44,800 30,000
===== ===== ====== ===== ====== ======
Balance sheet
Amount Amount
Liabilities Assets
₹ ₹
Sundry Creditors 28,500 Cash 54,000
Bills Payable 12,000 Debtors 27,000
Outstanding Expenses 2,500 Less : Provisions 2,700
Capital Accounts : ---------- 24,300
Anu 48,380 Stock 12,000
Binu 38,920 Furniture 20,000
Vinu 30,000 Plant & Machinery 50,000
----------- 1,17,300
-------------------- -------------------
1,60,300 1,60,300
=========== ===========
+2 Accountancy
Plus Two Accountancy Page No. 10

ORUKKAM 2022-2023

1. Which of the following event lead to reconstitution of a partnership firm
(a) Admission of a partner (b) Retirement of a partner
(c) Death of a partner (d) All of these
2. Sacrificing Ratio = ................... - New Ratio
(a) Gaining Ratio (b) Capital Ratio
(c) Old Ratio (d) Profit Ratio
Answer : Old Ratio
3. Which of the following is debited to the Revaluation A/c, at the time of reconstitution of a
partnership firm
(a) Unrecorded Assets (b) Increase in Assets
(c) Unrecorded Liabilities (d) Decrease in Liabilities
Answer : Unrecorded Liabilities
4. On admission, the debit balance of Profit and Loss account shown in the Balance sheet of the
firm indicates
(a) Undistributed Profit (b) Reserve
(c) Undistributed Loss (d) Revaluation Loss
Answer : Undistributed Loss
Chapter – 3
Reconstitution of a Partnership Firm -Retirement and Death of a
partner
Accounting adjustments at the time of Retirement

1. Calculation of New ratio and Gaining ratio
2. Revaluation of Assets and Liabilities
3. Treatment of Reserves, Undistributed profits or losses
4. Treatment of Goodwill
5. Calculation of total amount due to Retiring Partner
6. Settlement of amount due to Retiring partner
7. Adjustment of Capital A/c
Gaining Ratio : Gaining ratio is the ratio in which continuing partners decide to share
the outgoing partners share of profit.
Gaining Ratio = New ratio – Old ratio
+2 Accountancy

ORUKKAM 2022-2023
Treatment of Undistributed Profits and Losses
The journal entries for recording accumulated profits and losses are:
i. For Accumulated profits :
Reserves/Profit and Loss Account Dr
To All Partner’s Capital Accounts
ii. For Accumulated Losses

All Partner’s Capital Accounts Dr
To Profit and Loss Account
Question
‘M’, ‘N’ and ‘O’ are equal partners. M decides to retire from the firm. On the date of his retirement
the Balance Sheet of the firm showed the following :
(a) Profit and Loss Account (Dr.) ₹12,000.
(b) General Reserve ₹ 48,000.
Pass necessary journal entries to record the above.
Answer Journal
Date Particulars J.F. Debit Credit

₹ ₹
(a) M’s Capital Account Dr. 4,000
N’s Capital Account Dr. 4,000
O’s Capital Account Dr. 4,000
To Profit and Loss A/c 12,000
(Accumulated loss distributed to partners
equally)
General Reserve A/c Dr. 48,000
(b) To M’s Capital A/c 16,000
To N’s Capital A/c 16,000
To O’s Capital A/c 16,000
(Reserves transferred to all partners in old ratio)
Revaluation Account
Question
Pranav, Pinki and Prasad are partners sharing P & L in the ratio of 3:2:1. Their balance sheet as on
31.12.2017 stood as follows :
Liabilities Amount Assets Amount

₹ ₹
Creditors 50,000 Cash in hand 20,000
Trade payable 20,000 Debtors 45,000
+2 Accountancy

ORUKKAM 2022-2023
Reserves & Surplus 2,000 Less : Provisions 5,000
Capital A/c : --------- 40,000
Pranav 40,000 Inventories 30,000
Pinki 50,000 Plant & Machinery 42,000
Prasad 30,000 Goodwill 10,000
Furniture 50,000
--------------- ---------------
1,92,000 1,92,000
======== =========
Pranav retires and the following is agreed upon :

1. Provision for doubtful debts is not required.
2. Depreciation :
Furniture @ 5%.
Plant & Machinery @ 10%.
3. Creditors will be written off by ₹ 5,000.
Prepare Revaluation A/c.
Answer
Revaluation A/c
Dr. Cr.
Particulars Amount Particulars Amount

₹ ₹
Plant and Machinery 4,200 Creditors 5,000
Furniture 2,500 Provision for bad debts 5,000
Capital Accounts :
Pranav 1,650
Pinki 1,100
Prasad 550
---------- 3,300
------------ --------------
10,000 10,000
======= ========
Preparation of Partner’s Loan Account
Question
Anish, Manish and Sudheesh are partners in a firm. Sudheesh retires from the firm. On the date of
retirement of Sudheesh, ₹ 50,000 become due to him. Anish and Manish promise to pay the amount
in five equal instalments at the end of every year together with interest @ 10% p.a Prepare Loan
account of Sudheesh.
+2 Accountancy

ORUKKAM 2022-2023
Answer :
Sudheesh’s Loan A/c
Dr. Cr.
J. Amount J. Amount
Date particulars Date Particulars
F. ₹ F. ₹
Bank 15,000 Sudheesh’s Capital A/c 50,000
Balance c/d 40,000 Interest 5,000
------------ -----------
55,000 55,000
Bank 14,000 Balance b/d 40,000

------------ -----------
44,000 44,000
13,000 30,000
Bank Balance b/d
20,000 3,000
Balance c/d Interest
------------ -----------
33,000 33,000
Bank 12,000 Balance b/d 20,000

------------ -----------
22,000 22,000
Balance b/d 10,000
Bank 11,000 Interest 1,000
------------ ------------
11,000 11,000

1. The ratio in which the continuing partners acquire share from the retiring partner is called
(a) Capital Ratio (b) Sacrificing Ratio
(c) Gaining Ratio (d) Solvency Ratio
Answer : Gaining Ratio
2. New Ratio - Old Ratio = ...................
(a) Gaining Ratio (b) Capital Ratio
(c) Sacrificing Ratio (d) Liquidity Ratio
Answer : Gaining Ratio
+2 Accountancy

ORUKKAM 2022-2023
3. At the time of retirement, which ratio is used to transfer Reserve account balance to all partners
capital account
(a) Old ratio (b) New ratio
(c) sacrificing ratio (d) Gaining ratio
Answer : Old ratio
4. At the time of retirement, accumulated profits / losses are to be shared by using
(a) Capital ratio (b) New ratio
(c) Gaining ratio (d) Old ratio
Answer : Old ratio
5. Revaluation profit at the time of retirement of a partner is credited to which of the following
account
(a) Retiring partners capital account (b) Remaining partners capital account
(c) All partners capital account (d) Continuing partners capital account
Answer : All partners capital account
6. Gaining ratio is calculated at the time of
(a) admission of a partner (b) death of a partner
(c) dissolution of firm (d) retirement and death of a partner
Answer : retirement and death of a partner
7. The amount due to the deceased partner is transferred to ......................... A/c
(a) Continuing Partners Capital (b) Executors Loan
(c) New partners Loan (d) Remaining partners Capital
Answer : Executors Loan
Chapter – 4
DISSOLUTION OF FIRM
Modes of Dissolution
1. Dissolution by Agreement
2. Compulsory dissolution
3. Dissolution on the happening of Contingencies
4. Dissolution by Notice
5. Dissolution by Court
+2 Accountancy

ORUKKAM 2022-2023
Difference between Dissolution of Partnership and Dissolution of Firm
Basis Dissolution of Partnership Dissolution of Firm
1. Termination of
Business is not terminated Business of the firm is terminated
business
2. Settlement of assets Assets and liabilities are revalued Assets are sold and liabilities are paid-
and liabilities and new balance sheet is prepared. off.
3. Economic Economic relationship between Economic relationship between the
relationship the partners continues. partners comes to an end.
The books of account are not
4. Closure of books The books of account are closed.
closed.
Difference between Revaluation Account and Realisation Account

Sl.
Revaluation A/c Realisation A/c
No.
It is prepared at the time of admission, retirement and It is prepared at the time of dissolution
1
death of a partner of a partnership firm
It is prepared to find out profit or loss
2 It is prepared to find out profit or loss on revaluation
on realisation
It records increase or decrease in the value of assets It records the value of assets and
3
and liabilities liabilities at their book value
Format of Realisation Account
J. Amount J. Amount
Date Particulars Date Particulars
F. ₹ F. ₹
Assets (Book value) xxx

Cash (Liabilities paid) xxx Outside liabilities xxx
Partners (Book value)
Capital/Current A/c xxx Cash (Assets realised) xxx
(Liabilities discharged by Partners Capital /
partner) Current A/c xxx
Cash (Realisation xxx Assets taken over by
expense paid) partner xxx
Partners
Capital/Current A/c xxx
(Profit on realisation
shared) xxxx xxxx
====== =======
+2 Accountancy

ORUKKAM 2022-2023
Question : A, B & C were partners sharing profit and losses in the ratio of 5:3:2.
Their Balance Sheet as on 31st March 2022 was as follows :
Balance Sheet of A, B & C as on 31st March 2022
Amount Amount
Liabilities Assets
(₹) (₹)
Creditors 15,000 Buildings 1,78,000
Bills payable 15,000 Machinery 20,000
Bank Loan 1,00,000 Stock 65,000
Provident Fund 60,000 Bills receivables 72,000
A’s husband’s loan 65,000 Furniture 65,000
General Reserve 45,000 Cash at Bank 35,000
Capitals :
A 35,000
B 45,000
C 55,000
--------- 1,35,000
------------------- ------------------
4,35,000 4,35,000
========== ==========
The firm was dissolved on that date.

Prepare realization account with the following information :
(1) Building realized for ₹ 1,20,000 ; Bills receivables realized for ₹ 70,000 ; Stock
realized for ₹ 40,000 and Machinery sold for ₹ 33,000 and furniture ₹60,000.
(2) Bank loan was settled for ₹ 70,000 ; Creditors and bills payable were settled at
10% discount.
(3) Realisation expenses ₹ 1,500.
Answer
Realisation A/c
Amount Amount
₹ ₹
Buildings 1,78,000 Creditors 15,000
Machinery 20,000 Bills Payable 15,000
Stock 65,000 Bank loan 1,00,000
Bills Receivables 72,000 Provident Fund 60,000
Furniture 65,000 A’s Husband’s loan 65,000
Bank A/c Bank
Bank loan 70,000 Building 1,20,000
Creditors 13,500 Bills Receivable 70,000
+2 Accountancy

ORUKKAM 2022-2023
Bills Payable 13,500 Stock 40,000
------------- 97,000 Machinery 33,000
Bank (Provident Fund) 60,000 Furniture 60,000
Bank (Realisation expenses) 1,500 ---------- 3,23,000
Bank (A’s husband’s loan) 65,000 Partner’s Capital :
A 22,750
B 13,650
C 9,100
----------- 45,500
--------------- ------------------
6,23,500 6,23,500
========== ==========
Question
Adithyan and Theertha are partners of Aswani Traders in the ratio of 2 : 3. Their
Balance Sheet as on 31-12-2022 stood as follows :
Balance Sheet as on 31-12-2022
Amount Amount
Liabilities Assets
₹ ₹
Capital A/c : Land & Buildings 40,000
Adithyan ₹ 50,000 Furniture 20,000
Theertha ₹ 30,000 Stock 40,000
------------ 80,000
Sundry Creditors 20,000
1,00,000 1,00,000
========== =========
Prepare the realisation account on the assumption that the firm dissolved on the
above date by considering the following :
1.Land & Buildings realised ₹ 60,000.
2.Furniture sold for ₹ 20,000.
3.Stock taken over by Adithyan ₹ 15,000.
Answer
Realisation A/c
Dr. Cr.
Amount Amount
₹ ₹
Land and Building 40,000 Sundry Creditors 20,000
Furniture 20,000 Cash(Land & Buildings) 60,000
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ORUKKAM 2022-2023
Stock 40,000 Cash (Furniture) 20,000
Cash (Creditors) 20,000 Adithyan’s Capital A/c(Stock) 15,000
Partner’s Capital A/c :
(Realisation Loss)
Adithyan 2,000
Theertha 3,000
-------- 5,000
------------------ ---------------
1,20,000 1,20,000
========== =========

1. Which of the following is prepared at the time of dissolution of a Firm
(a) Revaluation A/c (b) Realisation A/c
(c) P/L Appropriation A/c (d) Profit & Loss A/c
Answer : Realisation A/c
2. When the business of a firm becomes illegal, it will lead to
(a) Dissolution by Agreement (b) Compulsory Dissolution
(c) Dissolution by Notice (d) Dissolution by Court
Answer : Compulsory dissolution
3. Which of the following account is not closed and transferred to Realisation account at the time
of dissolution of firm
(a) Stock A/c (b) Cash A/c
(c) Creditors A/c (d) Goodwill A/c
Answer : Cash A/c
4. The business of a partnership firm is terminated at the time of
(a) Retirement of Partner (b) Death of Partner
(c) Dissolution of Firm (d) Dissolution of Partnership
Answer : Dissolution of Firm
5. At the time of dissolution of firm, if a partner takes over an asset it should be
(a) Debited in Realisation account (b) Credited in Revaluation account
(c) Debited in Partners capital account (d) Credited in Partners capital account
Answer : Debited in Partners capital account
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ORUKKAM 2022-2023
PART – B
COMPUTERISED ACCOUNTING
Chapter – 1
OVERVIEW OF COMPUTERISED ACCOUNTING SYSTEM
Features of CAS
1.Simple and Integrated : Computerised Accounting System integrates all the
business operations.
2.Accuracy : CAS is designed to be accurate to the minutest detail.
3.Speed : Statements and reports can be generated instantly.
4.Scalability : Computer software can manage huge volume of data.
5.Reliability : The financial statements prepared through CAS are highly reliable.
Components of CAS
1. Procedure
2. Data
3. Users/People/Live-ware
4. Hardware
5. Software
Types of Codes
1) Sequential Codes : Numbers and letters or both of them are assigned in a
consecutive order.
Eg: CM001 – Excel Company Limited
CM002 – Premium Company Limited
2) Block Codes : A range of numbers are used for codification
Eg : 1000 – 1999 : Televisions
2000 – 2999 : Mobile Phones
3) Mnemonic Codes : Mnemonic code consists of alphabets or abbreviations as
symbols to codify a piece of information.
Eg: Railway station codes
MVLK for Mavelikara, CNGR for Chengannur, HAD for Harippad etc...
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ORUKKAM 2022-2023
Security features of CAS

(a) Password security : Password is the key or code to allow access to the system
and data.
(b) Data audit : This security enables to know, who and what changes have been
made in the original data.
(c) Data vault : Vaulting will save data in encrypted form to ensure its security.
Merits of CAS
1. Timely generation of reports
2. Saves time and money
3. Transparency and reliability
4. Accurate and updated information
Demerits of CAS
1. Heavy cost of installation
2. Threat from hackers
3. Chances of data loss due to various reasons
4. Extensive use of computer may lead to health problems

1. Find the odd one
(a) Data (b) User (c) Employee (d) Hardware
Answer : Employee
2. In a retail business shop, a code number range from 2501 to 2599 is assigned to the
product Bath soaps. This coding is an example for
(a) Sequential Codes (b) Block Codes
(c) Mnemonic Codes (d) Numeric Codes
Answer : Block Codes
3. BST1 – Plus One Business Studies, BST2 – Plus Two Business Studies are examples
for ..................... type of code
(a) Block code (b) Book Code (c) Mnemonic code (d) Sequential code
Answer : Sequential code
4. Identify the type of coding used in the following case
CA for Current Assets
FA for Fixed Assets
(a) Sequential code (b) Block code
(c) Mnemonic code (d) Fluctuating code
Answer : Mnemonic code
5. The sub system of Accounting Information System, which deals with the payment
of salary/wages to employees
(a) Cash & Bank (b) Payroll accounting (c) Budget (d) Final accounts
Answer : Payroll Accounting
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ORUKKAM 2022-2023
Chapter – 2
SPREADSHEET
Examples for Spreadsheet

LibreOffice Calc, MS Office Excel etc.. are examples of Spreadsheet Softwares.
Features of LibreOffice Calc

1. Easy calculations
2. What-if calculations
3. Serves as a database
4. Arranging data
5. Dynamic Charts
Components of LibreOffice Calc spreadsheet
1. Rows : Rows are numbered numerically from top to bottom.
2. Columns : Columns are referred by alpha character from left to right.
3. Range : A cell range is a collection of selected cells.
Naming Ranges
Naming a range means giving name to a specific range of cells.
Steps in Naming a range
1. Select the range which is to be named
2. Go to Data menu -->Define Range
3. Enter the name of range in the window appeared. Click on Add button and then
click OK button.
SPREADSHEET OPERATIONS
1. To start a new work book
Applications --> Office --> LibreOffice Calc
2. To save a worksheet
File --> Save
3. To close a worksheet
File --> Close
4. To add a new worksheet in the workbook
Click on the + sign near to Sheet tab
5. To delete a worksheet
Select the sheet to be deleted. Then select Delete Sheet option available
under Sheet menu.
6. To rename a worksheet
Select the sheet to be renamed. Then select Rename Sheet under Sheet
menu.
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ORUKKAM 2022-2023
Types of data entered in a cell

Three types of data are entered in a cell
1. VALUE : Numerical data is called a value.
2. LABEL : The text data is called Label.
3. FORMULA : Formula means a mathematical calculation on a set of cells.
CELL REFERENCES
 Relative Cell Reference
It means when the formula is copied, it changes to reflect the new location.
 Absolute Cell Reference
Absolute cell reference is used to keep a cell reference constant. It consists
of column letter and row number surrounded by dollar sign ($).
 Mixed Cell Reference
Mixed cell reference is a combination of Relative and Absolute cell
references.
Useful Functions in Spreadsheet
1. DATE AND TIME FUNCTIONS
2. STATISTICAL FUNCTIONS
3. LOGICAL FUNCTIONS
4. MATHEMATICAL FUNCTIONS
5. TEXT FUNCTIONS
1. Date and Time Functions
(i) Today - This function returns the current computer system date in the cell.
TODAY is a function without arguments.
Synax: =Today( )
(ii) Now – NOW function returns current computer system time also with the date.
NOW is also a function without arguments.
Synax: =Now( )
(iii) DAY - This function returns the day of a date represented by a number. The
day is given as an integer ranging from 1 to 31.
Syntax : =Day(“date”)
(iv) Month – This function returns the month of a given date. It ranges from 1 to
12.
Synax: =Month(“Date”)
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ORUKKAM 2022-2023
(v) Year – This function returns the year from the date.
Syntax : =Year(“Date”)
(vi) Date – This function returns a date, when the year, month and day parameters
are given as integer separated by commas.
Syntax : =Date(Year,Month,Day)
2. Statistical Functions
(i) COUNT: This function will count cells that contains numbers, dates and time.
Syntax : =COUNT(Value1, Value2.....)
(ii) COUNTA : This function will counts the number of cells that contains any type of
data. That is it counts the cells that are not empty in a range.
Syntax : =COUNTA(Value1, Value2.....)
(iii) COUNTBLANK : This function counts the number of cells which are empty in a range
Syntax : =COUNTBLANK(Range)
(IV) COUNTIF : This function is used to count the number of cells that meet a criteria.
Syntax : =COUNTIF(Range,Criteria)
3. Logical Functions
(i) IF : This function returns one value if the condition is true, and another value if
the condition is false.
Syntax : =IF(Test,Then_Value,Otherwise_Value)
Example : =IF(C2>=40,”Passed”,”Failed”)
(ii) NestedIF : We can include several IF conditions in one formula. Such multiple
IF statements are called NESTEDIF.
Syntax : =IF(Test_1,ThenValue_1,IF(Test_2,ThenValue_2,IF(.....)))
(iii) AND : It checks more than one condition at the same time and returns TRUE if
all conditions are satisfied. Otherwise it returns FALSE.
Syntax : =AND(Logical Value1,Logical Value2,...)
(iv) OR : OR function is used to compare two values.
Syntax: =OR(Logical Value1, Logical Value2,.....)
4. Mathematical Functions
(i) SUM : This function adds together a supplied set of number or numbers given
in a range.
Syntax : =SUM(number1,number2,........) or =SUM(Range)
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ORUKKAM 2022-2023
(ii) SUMIF : This function adds all numbers in a range of cells, only if it meets given
criteria.
Syntax : =SUMIF(range,”criteria”,sum_range)
(iii) ROUND : Round function rounds a number to a specified number of digits.
Syntax : =ROUND(Number,Count)
(iv) ROUNDUP : Roundup function rounds a number up away from zero, without
considering the value next to the rounding digit.
Syntax : =ROUNDUP(Number,Count)
(v) ROUNDDOWN : Roundup function rounds a number down towards zero.
Syntax : =ROUNDDOWN(Number,Count)
5.TEXT Functions
(i) TEXT : This function converts number into text.

Syntax : =TEXT(Number,Format)
(ii) CONCATENATE : This function combines several text strings of different cells
into one string.
Syntax : =CONCATENATE(“Text1”,”Text2”,.........”Text30”)
Data Validation
This feature imposes restrictions on the type of data entered into a cell. Data
validation helps to ensure the data is correct and useful.
Data validation option is available at Data Menu --> Validity
Conditional Formatting
Conditional formatting allows us to change the appearance of a cell, based on
certain conditions. This function helps to highlight relevant cells.
Conditional Formatting option is available at Format Menu --> Conditional
Pivot Table
A pivot table allows to extract the significance from a large, detailed data set.
Pivot table is useful if we have long rows or columns that hold values and to track
the sums of and easily compare to one another.
Pivot Table option is available at Data Menu --> Pivot Table
Uses of Pivot Table
● Pivot Table summarises data from a large dataset.
● Filtering and sorting data possible.
● Helps to present concise and attractive reports.
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ORUKKAM 2022-2023

1. LibreOffice Calc is a ........................................ software
(a) DBMS (b) Presentation (c) Spreadsheet (d) Video editing
Answer : Spreadsheet
2. Which function available in LibreOffice Calc displays the current computer system
data?
(a) DATE (b) NOW
(c) YEAR (d) TODAY
Answer : TODAY
3. Pre-defined formula in Spreadsheet is called
(a) Label (b) Function (c) Value (d) Formatting
Answer : Function
4. Intersection of a column and row in Spreadsheet is called
(a) Cell (b) Range
(c) Label (d) Value
Answer : Cell
5. Which of the following function is used to calculate depreciation under Fixed
instalment method ?
(a) PMT (b) DB (c) SLN (d) COUNT
Answer : SLN
6. In a formula, cell reference is given as $A$24. This type of cell reference is
(a) Relative (b) Absolute (c) Mixed (d) None of these
Answer : Absolute
7. Find the odd one
(a) DATE (b) NOW (c) TEXT (d) YEAR
Answer : TEXT
Chapter – 3
USE OF SPREADSHEET IN BUSINESS APPLICATION
PAYROLL ACCOUNTING
Payroll accounting is the function of calculating and distributing wages, salaries
and other allowances to employees
Components of Payroll
1. Earnings
Earnings include the following:
(a) Basic Pay (BP)
(b) Dearness Allowance (DA)
(c) House Rent Allowance (HRA)
(d) Transport Allowance (TA)
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ORUKKAM 2022-2023
(e) City Compensatory Allowance (CCA)
(f) Other Allowances
Gross Pay = BP+DA+HRA+TA+CCA+Other Allowances
2. Deductions
Deductions includes:
(a) Professional Tax (PT)
(b) Provident Fund (PF)
(c) Tax Deduction at Source (TDS)
(d) Recovery of Loan
(e) State Life Insurance (SLI)
(f) Other deductions
Net Pay = Gross pay – Total deductions
ASSET ACCOUNTING
Records relating to assets are to be maintained from the acquisition of assets to till
its disposal. It mainly involves computation of depreciation
Methods for calculating Depreciation
1. Straight Line Method (Fixed instalment Method)
In this method, depreciation is calculated on the basis of original cost of the asset.
In LibreOffice Calc, SLN Function is used to find depreciation under Straight Line
Method
Syntax : =SLN(Cost,Salvage,Life)
Cost – Acquisition cost
Salvage – Scrap value
Life – Total life period of asset
2. Diminishing Balance Method (Written Down Value Method)

In this method, depreciation is calculated on the basis of opening balance of the
asset each year.
In LibreOffice Calc, DB function is used for calculating depreciation under this
method
Syntax : =DB(Cost,Salvage,Life,Period,Month)
Cost – Acquisition cost
Salvage – Scrap value
Life – Total life period of asset
Period – Period (Year) for which depreciation is to be calculated
Month – Number of months in first year
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ORUKKAM 2022-2023
Loan Repayment Schedule
EMI (Equated Monthly Instalment) : Equated Monthly Instalment is a fixed

amount payable by a borrower to a lender at a specified date of each calender
month. EMI of a loan is determined by factors like Principal amount (Amount
borrowed), Rate of interest, Period of loan etc...
PMT Function in Calc spreadsheet is used to calculate periodic instalments of a

loan.
Syntax =PMT(Rate,Nper,PV,FV,Type)
Rate – Rate of interest
Nper – The total number of periods in which loan is to be repaid
PV – Present Value (i.e the Loan amount)
FV – Future value (Optional). The value at the end after final payment (0).
Type - Whether payment is made at the beginning (value=1)or at the end (value=0).
1. Which one of the following is a deduction in the calculation of NET PAY in payroll
(a) HRA (b) PF (c) DA (d) BP
Answer : PF
2. Which among the following is not an element of gross pay or total earnings
(a) DA (b) HRA (c) TDS (d) TA
Answer : TDS
3. PMT function is used for calculating
(a) Payroll (b) Depreciation (c) Loan repayment instalment (d) Professional Tax
Answer : Loan repayment instalment
4. Which function is used in LibreOffice Calc to calculate EMI of a loan
(a) NPV (b) PMT
(c) COUNT (d) FV
Answer : PMT
5. The argument ‘Nper’ used in the function PMT indicates
(a) New percentage (b) Loan amount
(c) Rate of interest (d) Number of repayment period
Answer : No. of repayment period
Chapter – 4
GRAPH AND CHART FOR BUSINESS DATA
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ORUKKAM 2022-2023
TYPES OF CHART
1. Column chart : A Column chart is used for comparison of data items for a
specified time period. In the column chart, categories are displayed horizontally
and values vertically.
2. Pie chart : The pie chart contains only one data series. A series of data in a
pie chart is displayed as a percentage of the total.
3. Line chart : Line Chart is used to display data changes (trends) at regular
intervals
4. Bar chart : The bar chart is similar to the column chart, with the difference
that the data series are displayed horizontally and not vertically.
5. Area chart : Area chart is used to highlight the proportion of individual items
over total items.
6. Donut chart : Donut chart displays in rings. Each ring represents a data
series
7. Radar chart : This chart has separate axis for each category. Value of each
data point is plotted on corresponding axis.
8. Scatter chart : In this type of chart, both axes displays values. It is also
known as XY Chart
STEPS TO CREATE CHART

1. Open LibreOffice Calc spreadsheet
2. Enter the given data into spreadsheet
3. Select the cells containing data on the basis of which chart is to be prepared
4. To plot the chart in spreadsheet, select Chart option from Insert menu
5. Select Chart type and click on Finish button
ELEMENTS OF CHART
1. Chart Area : All elements within the outer border.
2. Plot Area : The area bounded by X axis and Y axis. It have its own border.
3. Chart Floor : It is the lower area on which data points are placed.
4. Data points : A symbol that represents the date. It may be columns, bars,
lines etc..
5. Data series : It is a collection of data points
6. Legend : It is an indicator of a piece of information in the chart.
7. Chart Title : Heading at top of the chart
8. X Axis – Horizontal axis in a chart
9. Y Axis – Vertical axis in a chart
10. Grid lines – Vertical and horizontal lines that appear in a chart
ADVANTAGES OF CHART
1. Visually appealing
2. Quick analysis and interpretation of data within a little time
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ORUKKAM 2022-2023
3. To know the trends easily
4. A large volume of information can be exhibited through charts easily

1. The chart used to display trends over a period of time is
(a) Pie chart (b) Radar chart (c) Line chart (d) Area chart
Answer : Line chart
2. Which among the following chart displays data in rings
(a) Bar chart (b) Column chart (c) Area chart (d) Donut chart
Answer : Donut chart
3. The identifier of a piece of information shown in a chart is called
(a) Plot area (b) Data series (c) Legend (d) Grid lines
Answer : legend
4. ............ chart is similar to Column chart with the difference that the data series are
displayed horizontally.
(a) Line chart (b) Bar chart
(c) Pie chart (d) Area chart
Answer : Bar chart
5. .......... chart contains only one data series
(a) Line chart (b) Bar chart
(c) Pie chart (d) Area chart
Answer : Pie chart
Chapter – 5
ACCOUNTING SOFTWARE PACKAGE - GNUKHATA
GNUKhata accounting software is developed by Digital Freedom Foundation (DFF –

a public charitable trust) in association with International Centre for Free and Open
Source Software (ICFOSS).
FEATURES OF GNUKhata
1. Free and Open Source accounting software.
2. Based on Double Entry book keeping.
3. Ledgers, Profit and Loss A/c, Balance Sheet etc... can be generated.
4. Facility for attaching source document with Voucher entry.
5. Can be used by both Profit making and Non-Profit making Organisations.
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ORUKKAM 2022-2023
SYSTEM GENERATED (Default) LEDGER ACCOUNTS
In GNUKhata, there are four system generated ledger accounts.
Sl. No. Name of Account Group Sub Group
1 Closing Stock Current Assets Inventory
2 Opening Stock Direct Expenses None
3 Stock at the beginning Current Assets Inventory
4 Profit and Loss Account Direct Income None
Steps in Ledger creation
Step 1: GNUKhata → Master → Create Account

Step 2: Select Group to which account belongs
Step 3 : Select sub-group, if any to which the account belongs
Step 4 : Enter the name of account
Step 5 : Click on Save button to save the ledger.
Profit & Loss Account – Groups and Sub Groups

Group Sub-Group Ledger
Sales, Purchase
Direct Income None
Return
Wages, Power,
Freight, Import duty,
Direct Expense None
Octroi, Purchases,
Sales Return
Rent Received,
Indirect Income None Interest Received,
Commission received
Salary, Rent,
Insurance, Office
Indirect Expense None expenses, Electricity
Charges, Audit fee,
Depreciation
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ORUKKAM 2022-2023
Balance sheet – Groups and Sub-groups

Group Sub-Group Ledger
 Capital A/c
 Partner's Capital A/c
Capital None
 Share Capital A/c
 Capital Fund
Bank  Bank A/c
 Cash in Hand
Cash  Cash A/c
 Petty cash A/c
Current Assets  Closing Stock
Inventory
(System generated)
 Short term loans
Loans & Advances
 Prepaid expenses
Sundry Debtors  Debtors A/c
 Provision for Bad
debts
Provisions
 Provision for Income
Tax
Current Liability
Sundry Creditors for  Outstanding
Expenses Expenses
Sundry Creditors for  All Suppliers
Purchases /Creditors A/c
 Building A/c
Building  Office Building A/c
 Factory Building A/c
 Furniture A/c
Furniture
 Office Furniture A/c
Fixed Assets  Land A/c
Land  Land & Building A/c
 Premises A/c
 Machinery A/c
Plant & Machinery  Plant A/c
 Plant & Machinery A/c
Investment in Bank  Fixed deposits in bank
Deposits
Investments  Investment in Shares
Investment in Shares
 Investment in
& Debentures
Debentures
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ORUKKAM 2022-2023
Loans (Asset) None  Long term Loans
 Bank Loan
Secured
 Other Secured Loans
Loans (Liability)
 Loan from Partners
Unsecured
 Loan from Manager
Miscellaneous  Preliminary Expenses
None
Expenses (Asset)
 General Reserves
Reserves None  Reserves & Surplus
 Retained Earnings
Types of Vouchers and its use

FUNCTION
KEYS/
VOUCHER TYPE USE OF VOUCHER
SHORTCUT
KEYS
RECEIPT For recording Cash or Cheque received F4
PAYMENT For recording payments by Cash or Cheque F5
SALES For recording Cash and Credit Sales F6
PURCHASE For recording Cash and Credit purchase of goods F7
CONTRA For recording Deposits to bank or Withdrawals from bank F8
For recording credit purchase of assets, rectification/

JOURNAL F9
adjustment entries
SALES RETURN For recording return of goods by customer Ctrl + 1
PURCHASE
RETURN
For recording return of goods to supplier Ctrl + 2
CREDIT NOTE For recording reduction in price charged to a customer Ctrl + 3
DEBIT NOTE For recording reduction in price given by a supplier Ctrl + 4
+2 Accountancy

ORUKKAM 2022-2023
Steps in Voucher Entry

(i) Select appropriate voucher from Voucher menu
(ii) Enter Voucher number and Date
(iii) Select Debit account name and enter Debit amount
(iv) Select Credit account name and enter Credit amount
(v) Save the Voucher
REPORTS
Report menu is used to view reports such as Ledger, Trial balance, Balance
Sheet, Profit & Loss A/c, List of accounts etc...
Steps to display Trial Balance

GNUKhata → Report → Trial Balance → Set date → View
Steps to display Profit & Loss A/c

GNUKhata → Report → Profit & Loss Account → Set date → View
Steps to display Balance Sheet

GNUKhata → Report → Balance Sheet → Set date → View
Steps to display Ledger A/c

GNUKhata → Report → Ledger → Select Account → Set date → View

1. Which of the following is not a system generated ledger account in GNUKhata
(a) Opening Stock (b) Closing Stock (c) Cash (d) Profit & Loss A/c
Answer : Cash
2. Which of the following vouchers is used to make rectification entries
(a) Receipt (b) Payment (c) Journal (d) Sales
Answer : Journal
3. In GNUKhata accounting software, Office Furniture A/c comes under ......... Group.
(a) Fixed Assets (b) Current Assets (c) Loans(Asset) (d) Investments
Answer : Fixed Assets
4.Which of the following is a system generated ledger account in GNUKhata.
(a) Opening Stock (b) Stock at the beginning
(c) Closing Stock (d) All of these
5. Deposits to Bank are recorded by using ............ type of voucher.
(a) Payment (b) Receipt
(c) Contra (d) Journal
Answer : Contra
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ORUKKAM 2022-2023
Chapter – 6
Database Management System
DATABASE
A database is an organised collection of data. Data is always organised in data table
consisting of rows and columns.
DATABASE MANAGEMENT SYSTEM (DBMS)
It is a software application that allows the creation, storage, updation of databases.
Examples for DBMS Software
MS Access, LibreOffice Base, Oracle, MY SQL
COMPONENTS OF DBMS
Database Management system consists of Data, hardware, software and users.
1. Data: Data means facts. It is the raw material for information i.e processed data are
called information.
2. Hardware: Hardware consists of input/output devices, memory, processors etc.
3. Software: It operates the hardware and interacts with users. With the help of hardware
we store data into hard disk, update it, edit it and retrieve it.
4. Users: Users are the persons who seek the information from the database.
LibreOffice Base
It is one of the popularly used Database Management System (DBMS) to create, store and
manage database. The default extension of LibreOffice Base files is.odb.
LibreOffice Base components/ objects
1. Tables – Table is used for data storage. It consists of data logically arranged in rows
and columns
2. Queries –It is used to extract , append and modify data from a database.
SQL( Structured Query Language) is most widely used language to handle queries
3. Forms - It allows the user for entering data to a database file. The interface allows the
user to input , retrieve and manipulate data.
4. Reports - This is used to create various reports by using the data from tables and
queries. It is used to present selected set of contents in a format.
Creating Table in Design View

Steps
1. Click the object Tables from Database panel.
2. Click Create Table in Design View in Tasks area
3. Enter Field Name, Field Type, Filed Properties
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ORUKKAM 2022-2023
4. Set primary key
5. Save the table by giving a suitable name.

1. Which of the following is used to retrieve information from a database
(a) Tables (b) Queries (c) Forms (d) Reports
Answer : Queries
2. SQL indicates
(a) Structured Query Language (b) Secured Question Language
(c) Standard Queue Language (d) Smart Query Language
Answer : Structured Query Language
3. Which among the following is used to extract, append and modify data from
database.
(a) Table (b) Forms (c) Queries (d) Reports
Answer : Queries
4. ............. helps to present the information stored in database in the required format.
(a) Table (b) Queries
(c) Forms (d) Reports
Answer : Reports
5. The field that uniquely identifies each record is called
(a) Foreign key (b) Normal key
(c) Primary key (d) Sub key
Answer : Primary key
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COMMERCE RESOURCE BLOG

Accounting for Partnership – Basic Concepts

Rules applicable in the absence of Partnership agreement

1. Profit sharing ratio Equally

(a) Sharing of profit and losses.

(b) Interest on advance given by Bilal to the firm

Answer (a) Profits and losses shared equally.

(b) 6% interest is given to Bilal’s loan.

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(2) Fluctuating capital method

Distinction between Fixed and Fluctuating Capital Method

Basis of distinction Fixed Capital Account Fluctuating Capital Account

Format of Partner’s Capital Account (Fluctuating Capital Method)

Partner’s Capital Account

Drawings xxx Balance b/d xxx

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Profit and Loss Appropriation Account

Format of Profit and Loss Appropriation Account

Profit and Loss Appropriation Account

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Profit and Loss Appropriation A/c

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Total interest on capital = ₹14,850

Tips to solve the question

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Statement Showing Calculation of Interest on Drawings

Date Amount Time Period Product

Choose the correct answer

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(2) Right to share profits of firm

Question : What do you mean by Sacrificing ratio ?

Question : What is Revaluation A/c ?

Methods of valuation of Goodwill

Steps to solve the question

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Total Profit 21,93,000

2 Super Profit Method

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Answer Revaluation A/c

Particulars Amount Particulars Amount

Partner’s Capital A/c

Revaluation 8,820 5,880 - Balance b/d 50,000 40,000 -

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Choose the correct answer

Accounting adjustments at the time of Retirement

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Treatment of Undistributed Profits and Losses