Plus One Accountancy with CA Public Exam Answer Key

Accountancy with CA answer key March 2026 60 Scores | 2 Hours

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I Answer any 7 from 1 to 8 (1 score each)

Qn.	Sub Qn.	Answer Key / Value Point	Score	Total
1	1.	b. Expenses.	1	7
1	2.	a. Going concern	1
1	3.	c. Journal proper.	1
1	4.	Contra entry.	1
1	5.	c. analyse the causes of difference between cash book and pass book.	1
1	6.	b. Fluctuation.	1
1	7.	b. Salary.	1
1	8.	b. Purchase Account.	1

II Answer any 3 from 9 to 13 (2 scores each)

Qn.	Answer	Score
9	a. Money measurement concept. 1️⃣ b. Business entity concept. 1️⃣	2
10	Salary A/c Dr. 10000 Rent A/c Dr. 5000 To Cash A/c. 15000	2
11	Sales A/c Dr. 2000 To Suspense A/c 2000	2
12	Salary Outstanding is added to the Debit Side in P&L A/c. and also shown on the Liability in the Balance sheet. Insurance prepaid is deducted from Insurance in the P&L Account and shown on the Asset side of Balance sheet.	2

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13. a. Salaries A/c Dr. 500 To Outstanding salaries A/c. 500
b. Interest on capital A/c Dr. 2000 To Capital A/c 2000

5×3=15 Answer any 5 from 14 to 19

14. i. Maintenance of Records of Business Transactions. 1️⃣	3
ii. Calculation of Profit and Loss. 1️⃣
iii. Depiction of Financial Position. (Explain)
15. a. CGST. 1️⃣ b. SGST. 1️⃣ c. IGST. 1️⃣	3
16. a. Cash book. 1️⃣ b. Sales Return Book. 1️⃣ c. Purchase Day book. 1️⃣	3
17. (a) Cheques issued but not presented 1️⃣ (b) Cheques paid in but not collected 1️⃣ (c) Direct debits 1️⃣ (d,e,f any three points)	3
18. Provisions : charge against profit; for known liabilities. Reserves : appropriation of profit; strengthen financial position.	3
19. Cost of goods sold = 20000+80000+10000-30000 = 80,000. Gross Profit = 25% on CGS = 20000. Sales = CGS+GP = 100000.	3

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20 Answer any 5 from 20 to 25 (4 scores each) 5×4=20

20. Reliability, Relevance, Understandability, Comparability. (Explain)	4
21. a. Cost Concept. b. Dual Aspect concept. c. Conservatism / Prudence Concept. d. Matching concept.	4
22. Matching entries a. Goods withdrawn for personal use → ii. Drawings A/c Dr. To Purchase A/c. b. Cash withdrawn from bank for office use → iii. Cash A/c Dr. To Bank. c. Cash withdrawn for personal use → i. Drawings A/c. To Cash d. Cash withdrawn from bank for personal use → iv. Drawings A/c Dr. To bank A/c.

Bank Reconciliation Statement

Particulars	+	-
Balance as per cash book	60000
Cheque issued but not yet presented for payments	8000
Bank charges not recorded in the cash book		1200
A cheque for deposited into the bank is not yet collected.		6000
Bank balance as per pass book	60800
	168000	68000

Depreciation = (Cost + Installation - Scrap) / Estimated Life = (52000 - 5000)/5 = 9400 per year.

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Particulars	Amount	Particulars	Amount
Opening stock	15000	Sales	90000
Purchases	60000	Closing Stock	20000
Wages	5000
Gross Profit C/d	30000
Total	110000	Total	110000

2x6=12 Answer any 2 from 26 to 28

26. Double Column Cash Book

Date	Particulars	Cash	Bank	Date	Particulars	Cash	Bank
1.1.21	Balance b/d	10000	15000	5.1.21	Rent	2000
10.1.21	Raju		8000	15.1.21	Bank (c)	5000
15.1.21	Cash (c)		5000	20.1.21	Stationery	1000
25.1.21	Bank(c)		2000	25.1.21	Cash (c)	2000
	Balance C/d	14000	16000
	Total	20000	20000		Total	20000	20000

27. An account in which the difference in the trial balance is put till such time that errors are located and rectified. It facilitates the preparation of financial statements even when the trial balance does not tally. Errors of Omission, Errors of principles, Compensating errors (Explain any two)
Suspense A/c 1500 To Reena 1500

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28. Trading, Profit and Loss A/c for the Year ended 31.12.2025

Dr.	Amount	Cr.	Amount
Opening stock	15000	Sales	65000
Purchases	50000	Closing Stock	12000
Wages	5000
Carriage inward	2000
Gross Profit C/d	5000
Total	77000	Total	77000
Salaries	6000	Gross Profit B/d	5000
Rent	3000
Add: O/s	1000
Rent total	4000
Net Loss	5000
Total	10000	Total	10000

Balance Sheet

Liabilities	Amount	Assets	Amount
Creditors	10,000	Cash	4,000
Rent O/s	1,000	Debtors	20,000
Capital : 80,000		Stock	12,000
Less: Net loss 5000	75,000	Furniture	10,000
		P&M	40,000
Total	86,000	Total	86,000