SET-2

Series SSO H$moS> Z§. 67/2

Code No.
amob Z§. narjmWu H$moS >H$mo CÎma-nwpñVH$m Ho$ _wI-n¥ð
Roll No. >na Adí` {bIo§ &
Candidates must write the Code on the
title page of the answer-book.

 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _o§ _w{ÐV n¥ð> 28 h¢ &

 àíZ-nÌ _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Zå~a H$mo N>mÌ CÎma -nwpñVH$m Ho$ _wI-n¥ð> na
{bI| &
 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _| 23 àíZ h¢ &
 H¥$n`m àíZ H$m CÎma {bIZm ewê$ H$aZo go nhbo, àíZ H$m H«$_m§H$ Adí` {bI| &
 Bg àíZ-nÌ H$mo n‹T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h¡ & àíZ-nÌ H$m {dVaU nydm©•
_| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>mÌ Ho$db àíZ-nÌ H$mo n‹T>|Jo
Am¡a Bg Ad{Y Ho$ Xm¡amZ do CÎma-nwpñVH$m na H$moB© CÎma Zht {bI|Jo &
 Please check that this question paper contains 28 printed pages.
 Code number given on the right hand side of the question paper should be
written on the title page of the answer-book by the candidate.
 Please check that this question paper contains 23 questions.
 Please write down the Serial Number of the question before
attempting it.
 15 minute time has been allotted to read this question paper. The question
paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the
students will read the question paper only and will not write any answer on
the answer-book during this period.

boImemñÌ
ACCOUNTANCY

{ZYm©[aV g_` : 3 KÊQ>o A{YH$V_ A§H$ : 80

Time allowed : 3 hours Maximum Marks : 80

67/2 1 P.T.O.
gm_mÝ` {ZX}e :
(i) `h àíZ-nÌ Xmo IÊS>m| _| {d^º$ h¡ – H$ Am¡a I &
(ii) IÊS> H$ g^r Ho$ {bE A{Zdm`© h¡ &
(iii) IÊS> I Ho$ Xmo {dH$ën h¢ - {dÎmr` {ddaUm| H$m {díbofU VWm A{^H${bÌ boIm§H$Z &
(iv) IÊS> I go Ho$db EH$ hr {dH$ën Ho$ àíZm| Ho$ CÎma {b{IE &
(v) {H$gr àíZ Ho$ g^r IÊS>m| Ho$ CÎma EH$ hr ñWmZ na {bIo OmZo Mm{hE &
General Instructions :
(i) This question paper contains two parts – A and B.
(ii) Part A is compulsory for all.
(iii) Part B has two options – Analysis of Financial Statements and
Computerized Accounting.
(iv) Attempt only one option of Part B.
(v) All parts of a question should be attempted at one place.

IÊS> H$
(gmPoXmar \$_m] VWm H$ån{Z`m| Ho$ {bE boIm§H$Z)
PART A
(Accounting for Partnership Firms and Companies)

1. {Z_m©U {b{_Q>oS> Zo < 10 àË`oH$ Ho$ 50,000 g_Vm A§em| H$m {ZJ©_Z {H$`m & am{e H$m
^wJVmZ {ZåZ àH$ma go H$aZm Wm :
AmdoXZ na — < 3 à{V A§e
Am~§Q>Z na — < 2 à{V A§e
àW_ Am¡a ApÝV_ `mMZm na — eof
45,000 A§em| Ho$ {bE AmdoXZ àmßV hþE VWm g^r AmdoXH$m| H$mo A§em| H$m Am~§Q>Z H$a
{X`m J`m & nyOm, {Ogo 500 A§em| H$m Am~§Q>Z {H$`m J`m Wm, Zo AnZr nyar A§e am{e H$m
^wJVmZ Am~§Q>Z Ho$ g_` H$a {X`m, O~{H$ Hw$ÝXZ Zo AnZo 300 A§em| na àW_ Am¡a ApÝV_
`mMZm H$m ^wJVmZ Zht {H$`m & àW_ Am¡a ApÝV_ `mMZm _m±JZo na àmßV am{e Wr :
(i) < 2,25,000
(ii) < 2,20,000
(iii) < 2,21,000
(iv) < 2,19,500 1

67/2 2
 Nirman Ltd. issued 50,000 equity shares of < 10 each. The amount was
payable as follows :
On application — < 3 per share
On allotment — < 2 per share
On first and final call — The balance
Applications for 45,000 shares were received and shares were allotted to
all the applicants. Pooja, to whom 500 shares were allotted, paid her
entire share money at the time of allotment, whereas Kundan did not pay
the first and final call on his 300 shares. The amount received at the time
of making first and final call was :
(i) < 2,25,000
(ii) < 2,20,000
(iii) < 2,21,000
(iv) < 2,19,500

2. A§em| Ho$ haU H$m AW© Xr{OE & 1

Give the meaning of forfeiture of shares.

3. AZ§V, Jwbm~ VWm Iwe~y EH$ \$_© Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vo
Wo & 1.4.2014 go CÝhm|Zo bm^ ~am~a ~m±Q>Zo H$m {ZU©` {b`m & Bg CÔoí` Ho$ {bE \$_© H$s
»`m{V H$m _yë`m§H$Z < 2,40,000 {H$`m J`m &
AZ§V, Jwbm~ VWm Iwe~y Ho$ bm^ gh^mOZ AZwnmV _| n[adV©Z Ho$ H$maU »`m{V Ho$
boIm§H$Z Ho$ {bE Amdí`H$ amoµOZm_Mm à{dpîQ> H$s{OE & 1

Anant, Gulab and Khushbu were partners in a firm sharing profits in the
ratio of 5 : 3 : 2. From 1.4.2014, they decided to share the profits equally.
For this purpose the goodwill of the firm was valued at < 2,40,000.

Pass necessary journal entry for the treatment of goodwill on change in

the profit sharing ratio of Anant, Gulab and Khushbu.

4. {H$gr gmPoXma H$s _¥Ë`w na, CgH$s _¥Ë`w H$s {V{W VH$ \$_© Ho$ bm^ _| CgHo$ ^mJ H$mo
ñWmZmÝV[aV {H$`m OmVm h¡ :
(i) bm^-hm{Z ImVo Ho$ Zm_ H$s Va\$ &
(ii) bm^-hm{Z ImVo Ho$ O_m H$s Va\$ &
(iii) bm^-hm{Z CM§V ImVo Ho$ Zm_ H$s Va\$ &
(iv) bm^-hm{Z CM§V ImVo Ho$ O_m H$s Va\$ & 1

67/2 3 P.T.O.
 On the death of a partner, his share in the profits of the firm till the date
of his death is transferred to the :
(i) Debit of Profit and Loss Account.
(ii) Credit of Profit and Loss Account.
(iii) Debit of Profit and Loss Suspense Account.
(iv) Credit of Profit and Loss Suspense Account.

5. JrVm, gwZrVm VWm AZrVm EH$ \$_© _| gmPoXma Wt VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vr
Wt & 1.1.2015 H$mo CÝhmo§Zo bm^ Ho$ 1/10d| ^mJ Ho$ {bE `mo{JVm H$mo EH$ Z`m gmPoXma
~Zm`m & `mo{JVm Ho$ àdoe Ho$ g_` \$_© H$m bm^-hm{Z ImVm Zm_ _| < 20,000 H$m eof
Xem© ahm Wm, {OgH$s \$_© Ho$ boInmb Zo CZHo$ bm^ gh^mOZ AZwnmV _| JrVm, gwZrVm VWm
AZrVm Ho$ ny±Or$ ImVm| Ho$ O_m _| IVm¡Zr H$a Xr & Š`m boInmb Ûmam {H$`m J`m boIm ghr
Wm ? AnZo CÎma Ho$ g_W©Z _| H$maU Xr{OE & 1
Geeta, Sunita and Anita were partners in a firm sharing profits in the
ratio of 5 : 3 : 2. On 1.1.2015 they admitted Yogita as a new partner for
1/10th share in the profits. On Yogita’s admission, the Profit and Loss
Account of the firm was showing a debit balance of < 20,000 which was
credited by the accountant of the firm to the capital accounts of Geeta,
Sunita and Anita in their profit sharing ratio. Did the accountant give
correct treatment ? Give reason in support of your answer.

6. gmPoXmar g§boI Ho$ A^md _| gmPoXma Ho$ G$U na ã`mO {X`m OmVm h¡ :
(i) 8% dm{f©H$ H$s Xa go &
(ii) 6% dm{f©H$ H$s Xa go &
(iii) H$moB© ã`mO Zht {X`m OmVm &
(iv) 12% dm{f©H$ H$s Xa go & 1
In the absence of Partnership Deed, interest on loan of a partner is
allowed :
(i) at 8% per annum.
(ii) at 6% per annum.
(iii) no interest is allowed.
(iv) at 12% per annum.

67/2 4
7. ‘~moZg A§em| Ho$ {ZJ©_Z’ Ho$ A{V[aº$ H$moB© VrZ à`moOZ ~VmBE {OZHo$ {bE à{V^y{V àr{_`_
H$m Cn`moJ {H$`m Om gH$Vm h¡ & 3
State any three purposes other than ‘issue of bonus shares’ for which
securities premium can be utilized.

8. 1.4.2013 H$mo ~¥O VWm ZÝXZ Zo CÎmamIÊS> Ho$ XÿadVu joÌm| Ho$ gaH$mar H$Ý`m {dÚmb`m| _|
em¡Mmb`m| H$m {Z_m©U H$aZo hoVw gmPoXmar \$_© ~ZmB© & CÝhm|Zo H«$_e… < 10,00,000 VWm
< 15,00,000 H$s ny°§Or bJmB© & CZH$m bm^ gh^mOZ AZwnmV 2 : 3 Wm VWm gmPoXmar
g§boI Ho$ AZwgma ny±Or na 12% à{V df© H$s Xa go ã`mO Xo` Wm & 31.3.2014 H$mo g_mßV
hþE df© _| \$_© Zo < 2,00,000 H$m bm^ H$_m`m &
31.3.2014 H$mo g_mßV hþE df© Ho$ {bE ~¥O VWm ZÝXZ H$m bm^-hm{Z {d{Z`moOZ ImVm
V¡`ma H$s{OE & 3
On 1.4.2013, Brij and Nandan entered into partnership to construct
toilets in government girls schools in the remote areas of Uttarakhand.
They contributed capitals of < 10,00,000 and < 15,00,000 respectively.
Their profit sharing ratio was 2 : 3 and interest allowed on capital as
provided in the Partnership Deed was 12% per annum. During the year
ended 31.3.2014, the firm earned a profit of < 2,00,000.
Prepare Profit and Loss Appropriation Account of Brij and Nandan for
the year ended 31.3.2014.

9. ‘B§{S>`m Am°Q>mo {b{_Q>oS>’ < 7,00,00,000 H$s A{YH¥$V ny±Or Ho$ gmW n§OrH¥$V h¡, Omo
< 100 àË`oH$ Ho$ 7,00,000 A§em| _| {d^º$ h¡ & H$ånZr Zo 50,000 A§em| H$m {ZJ©_Z H«$`
{H$E JE ^dZ Ho$ {dH«o$Vm H$mo {H$`m VWm 2,00,000 A§em| H$m {ZJ©_Z OZVm H$mo {H$`m &
am{e {ZåZ àH$ma go Xo` Wr :
AmdoXZ VWm Am~§Q>Z na – < 20 à{V A§e
àW_ `mMZm na – < 50 à{V A§e
Xÿgar VWm ApÝV_ `mMZm na – eof
g^r `mMZmE± _m±J br JBª VWm {_b JBª Ho$db aOZr Ho$ 100 A§em| H$mo N>mo‹S>H$a, {OgZo
Xÿgar VWm ApÝV_ `mMZm H$m ^wJVmZ Zht {H$`m Wm & CgHo$ A§em| H$m haU H$a {b`m
J`m &
"A§e ny±Or' H$mo H$ånZr A{Y{Z`_, 1956 H$s gyMr VI ^mJ I Ho$ AZwgma H$ånZr Ho$ pñW{V
{ddaU _| àñVwV H$s{OE & ‘ImVm| Ho$ ZmoQ²>g’ ^r V¡`ma H$s{OE & 3

67/2 5 P.T.O.
 ‘India Auto Ltd.’ is registered with an authorised capital of < 7,00,00,000
divided into 7,00,000 shares of < 100 each. The company issued
50,000 shares to the vendor for building purchased and 2,00,000 shares
were issued to the public. The amount was payable as follows :
On application and allotment – < 20 per share
On first call – < 50 per share
On second and final call – The balance
All calls were made and were duly received except on 100 shares held by
Rajani, who failed to pay the second and final call. Her shares were
forfeited.
Present the ‘Share Capital’ in the Balance Sheet of the company as per
Schedule VI Part I of the Companies Act, 1956. Also prepare ‘Notes to
Accounts’.

10. ‘JwS> ãb¢Ho$Q> {b{_Q>oS>’ D$Zr H$å~bm| Ho$ {Z_m©Vm h¢ & H$ånZr Ho$ H$å~b H$B© Xoem| _| {Z`m©V
{H$E OmVo h¢ & H$ånZr Zo hmb hr _| ~m‹T> go j{VJ«ñV hþE H$í_ra KmQ>r Ho$ nm±M Jm±dm| _|
_wµâV H$å~b ~m±Q>Zo H$m {ZU©` {b`m & BgZo BZ Jm±dm| Ho$ 100 Zm¡OdmZmo§ H$mo {h_mMb àXoe
Ho$ gmobZ _| ñWm{nV AnZo Z`o H$maImZo _| Zm¡H$ar na aIZo H$m ^r {ZU©` {b`m & Z`m
H$maImZm bJmZo Ho$ {bE {dÎm H$s Amdí`H$Vm H$mo nyam H$aZo hoVw H$ånZr Zo < 10 àË`oH$ Ho$
50,000 g_Vm A§em| VWm < 100 àË`oH$ Ho$ 2,000, 8% G$UnÌm| H$m {ZJ©_Z
< 7,00,000 _| H«$` H$s JB© _erZar Ho$ {dH«o$VmAm| H$mo {H$`m &
H$ånZr H$s nwñVH$m| _| Cn`w©º$ boZXoZm| Ho$ {bE Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE &
H$ånZr Ûmam g_mO H$mo g§ào{fV {H$E OmZo dmbo {H$gr EH$ _yë` H$s nhMmZ ^r H$s{OE & 3

‘Good Blankets Ltd.’ are the manufacturers of woollen blankets. Blankets

of the company are exported to many countries. The company decided to
distribute blankets free of cost to five villages of Kashmir Valley
destroyed by the recent floods. It also decided to employ 100 young
persons from these villages in their newly established factory at Solan in
Himachal Pradesh. To meet the requirements of funds for starting its
new factory, the company issued 50,000 equity shares of < 10 each and
2,000 8% debentures of < 100 each to the vendors of machinery
purchased for < 7,00,000.
Pass necessary journal entries for the above transactions in the books of
the company. Also identify any one value which the company wants to
communicate to the society.

67/2 6
11. H$, I VWm J H$m 31 _mM©, 2014 H$mo pñW{V {ddaU {ZåZ àH$ma Wm :
Xo`VmE± am{e gån{Îm`m± am{e
< <
{d{dY boZXma 4,500 amoH$‹S> hñVo 300
g§{MV {Z{Y 4,800 ~¢H$ _| amoH$‹S> 7,500

n±yOr ImVo : ñQ>m°H$ 9,000

H$ 15,000 XoZXma 9,000

I 7,500 \$ZuMa 12,000

J 7,500 30,000 Am¡µOma 1,500

39,300 39,300

30 OyZ, 2014 H$mo "J' H$m XohmÝV hmo J`m & gmPoXmar g§boI H$s eVmªo Ho$ AZwgma _¥V
gmPoXma Ho$ {ZînmXH$m| H$mo {ZåZ Xo` Wm :
(H$) gmPoXma Ho$ ny±Or ImVo H$m O_m eof &
(I) ny±Or na 6% à{V df© H$s Xa go ã`mO &
(J) »`m{V _| ^mJ, {OgH$s JUZm {nN>bo VrZ dfmªo Ho$ bm^ Ho$ XþJwZo Ho$ AmYma na H$s
OmEJr &
(K) {nN>bo {dÎmr` df© H$s g_mpßV go CgH$s _¥Ë`w H$s {V{W VH$ bm^ _| CgH$m$ ^mJ,
{OgH$s JUZm {nN>bo df© Ho$ bm^ Ho$ AmYma na H$s OmEJr & {nN>bo VrZ dfm] Ho$
bm^ {ZåZ àH$ma Wo :
df© bm^
<
2011 – 2012 9,000
2012 – 2013 10,500
2013 – 2014 12,000
\$_© AnZo ImVo à{V df© 31 _mM© H$mo ~ÝX H$aVr h¡ & gmPoXma AnZr ny±Or Ho$ AZwnmV _|
bm^ ~m±Q>Vo Wo &
‘J’ Ho$ {ZînmXH$m| H$mo àñVwV H$aZo Ho$ {bE CgH$m ny±Or ImVm V¡`ma H$s{OE & 4

67/2 7 P.T.O.
 The following is the Balance Sheet of A, B and C as on 31th March, 2014.
Amount Amount
Liabilities Assets
< <
Sundry Creditors 4,500 Cash in hand 300
Reserve Fund 4,800 Cash at bank 7,500

Capital Accounts : Stock 9,000

A 15,000 Debtors 9,000
B 7,500 Furniture 12,000
C 7,500 30,000 Tools 1,500

39,300 39,300

‘C’ died on 30th June, 2014. Under the terms of Partnership Deed, the
executors of the deceased partner were entitled to :
(a) Amount standing to the credit of partner’s capital account.
(b) Interest on capital @ 6% per annum.
(c) Share of goodwill on the basis of twice the average of past three
years profits.
(d) Share of profit from the closing of last financial year to the date of
death on the basis of last year’s profit. The profits of the last three
years were as follows :

Year Profit
<
2011 – 2012 9,000
2012 – 2013 10,500
2013 – 2014 12,000

The firm closes its books on 31th March every year. The partners shared
profits in the ratio of their capitals.
Prepare C’s Capital Account to be presented to his executors.

67/2 8
12. ào_, na_ VWm {à`m EH$ \$_© _| gmPoXma Wo & CZH$s ñWm`r ny±Or Wr ào_ < 2,00,000;

na_ < 3,00,000 VWm {à`m < 5,00,000 & do AnZr ny±Or Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo &
\$_© H$m ì`dgm` eha Ho$ VrZ {d{^Þ ^mJm| _| ImZo Ho$ {bE V¡`ma n¡Ho$ Q>m| H$s {~H«$s> H$m Wm
{OZH$m ì`pŠVJV AmYma na ào_, na_, VWm {à`m à~§Y H$aVo Wo & ào_ Ûmam à~§Y {H$`m
OmZo dmbm {ZJ©_ Ho$ÝÐ na_ VWm {à`m Ûmam à~§Y {H$E OmZo dmbo {ZJ©_ Ho$ÝÐm| go µÁ`mXm
ì`dgm` H$a ahm Wm & ào_ Zo na_ VWm {à`m go bm^ _| A{YH$ ^mJ Ho$ {bE AZwamoY {H$`m
{Ogo na_ VWm {à`m Zo ñdrH$ma H$a {b`m & `h {ZU©` {b`m J`m {H$ Z`m bm^ gh^mOZ
AZwnmV 2:1:2 hmoJm VWm Bgo {nN>bo Mma dfm] go à^md _| bm`m OmEJm & {nN>bo Mma
dfm] Ho$ bm^ H«$_e… < 2,00,000; < 3,50,000; < 4,75,000 VWm < 5,25,000 Wo &

AnZr JUZmAm| H$mo ghr àH$ma go Xem©Vo hþE ào_, na_ VWm {à`m Ho$ ~rM Z`o g_Pm¡Vo H$mo
à^mdr ~ZmZo Ho$ {bE Amdí`H$ g_m`moOZ à{dpîQ>> H$s{OE & 4

Prem, Param and Priya were partners in a firm. Their fixed capitals were
Prem < 2,00,000; Param < 3,00,000 and Priya < 5,00,000. They were
sharing profits in the ratio of their capitals. The firm was engaged in the
sale of ready-to-eat food packets at three different locations in the city,
each being managed by Prem, Param and Priya. The outlet managed by
Prem was doing more business than the outlets managed by Param and
Priya. Prem requested Param and Priya for a higher share in the profits
of the firm which Param and Priya accepted. It was decided that the new
profit sharing ratio will be 2 : 1 : 2 and its effect will be introduced
retrospectively for the last four years. The profits of the last four years
were < 2,00,000; < 3,50,000; < 4,75,000 and < 5,25,000 respectively.

Showing your calculations clearly, pass a necessary adjustment entry to

give effect to the new agreement between Prem, Param and Priya.

67/2 9 P.T.O.
13. ‘AZÝ`m {b{_Q>oS>’ H$s A{YH¥$V ny±Or < 10,00,00,000 Wr Omo < 100 àË`oH$ Ho$
10,00,000 g_Vm A§em| _| {d^º$ Wr & H$ånZr Zo 2,00,000 A§em| H$m {ZJ©_Z nhbo hr
H$a {X`m Wm & 31.3.2007 H$mo g_mßV hþE df© Ho$ {bE H$ånZr Zo < 30 à{V A§e H$m
bm^m§e {X`m & H$ånZr à~§YZ Zo H$ånZr Ho$ CËnmXm| H$mo A\«$sH$m Ho$ Xoem| _| {Z`m©V H$aZo H$m
{ZU©` {b`m & A{V[aº$ {dÎm H$s Amdí`H$VmAm| H$mo nyU© H$aZo Ho$ {bE H$ånZr Ho$ {dÎmr`
à~§YH$ Zo {ZXoeH$ _ÊS>b Ho$ g_j {ZåZ VrZ {dH$ën àñVmd aIo …
(i) < 100 à{V A§e Ho$ àr{_`_ na 47,500 g_Vm A§em| H$m {ZJ©_Z &
(ii) ~¢H$ go XrK©H$mbrZ G$U {b`m OmE Omo 12% à{V df© Ho$ ã`mO na CnbãY Wm &
(iii) 9% G$UnÌm| H$m 5% Ho$ ~Åo na {ZJ©_Z {H$`m OmE &
g^r {dH$ënm| H$m _yë`m§H$Z H$aZo Ho$ níMmV² 1.4.2008 H$mo H$ånZr Zo 1,00,000, 9%
G$UnÌ {ZJ©{_V H$aZo H$m {ZU©` {b`m & àË`oH$ G$UnÌ H$m A§{H$V _yë` < 100 Wm & BZ
G$UnÌm| H$m emoYZ Vrgao df© Ho$ AÝV go ewê$ H$aHo$ Mma {H$íVm| _| {ZåZ àH$ma go H$aZm
Wm …
df© am{e
<
III 10,00,000
IV 20,00,000
V 30,00,000
VI 40,00,000
1.4.2008 go ewê$ H$aHo$ O~ VH$ g^r G$UnÌm| H$m emoYZ H$a {X`m OmE, 9% G$UnÌ
ImVm V¡`ma H$s{OE & 6
‘Ananya Ltd.’ had an authorized capital of < 10,00,00,000 divided into
10,00,000 equity shares of < 100 each. The company had already issued
2,00,000 shares. The dividend paid per share for the year ended
31.3.2007 was < 30. The management decided to export its products to
African countries. To meet the requirements of additional funds, the
finance manager put up the following three alternate proposals before the
Board of Directors :
(i) Issue 47,500 equity shares at a premium of < 100 per share.
(ii) Obtain a long-term loan from bank which was available at 12% per
annum.
(iii) Issue 9% debentures at a discount of 5%.

After evaluating these alternatives the company decided to issue

1,00,000, 9% debentures on 1.4.2008. The face value of each debenture

67/2 10
 was < 100. These debentures were redeemable in four instalments
starting from the end of third year, which was as follows :
Year Amount
<
III 10,00,000
IV 20,00,000
V 30,00,000
VI 40,00,000
Prepare 9% debenture account from 1.4.2008 till all the debentures were
redeemed.
14. _mbm, Zrbm VWm H$mbm gmPoXma Wo VWm 3 : 2 : 1 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo &
1.3.2015 H$mo CZH$s \$_© H$m {dKQ>Z hmo J`m & n[agån{Îm`m| H$mo ~oM {X`m J`m VWm
Xo`VmAm| H$m ^wJVmZ H$a {X`m J`m & boInmb Zo dgybr ImVm, gmPoXmam| Ho$ ny±Or ImVo VWm
amoH$‹S> ImVm V¡`ma {H$`m, naÝVw BZ ImVm| _| Hw$N> am{e`m| H$s IVm¡Zr H$aZm ^yb J`m &
Amn ZrMo {XE JE ImVm| _| ghr am{e`m| H$s IVm¡Zr H$aHo$ BÝh| nyam H$s{OE &
dgybr ImVm
Zm_ O_m
am{e am{e
{ddaU < {ddaU <
{d{dY n[agån{Îm`m± … Sy>~V G$Um| Ho$ {bE àmdYmZ 1,000
_erZar 10,000 {d{dY boZXma 15,000
ñQ>m°H$$ 21,000 erbm H$m G$U 13,000
XoZXma 20,000 _aå_V VWm ZdrZrH$aU g§M` 1,200
amoH$‹S – n[agån{Îm`mo§ H$m
nyd©XÎm ~r_m 400
{dH«$` :
{Zdoe 3,000 54,400 _erZar 8,000
_mbm H$m ny±Or ImVm
13,000 ñQ>m°H$ 14,000
– erbm H$m G$U
amoH$‹S> – boZXmam| H$mo ^wJVmZ 15,000 XoZXma 16,000 38,000
amoH$‹S – AZmX[aV {~b H$m _mbm H$m ny±Or ImVm – {Zdoe 2,000
5,000
^wJVmZ
amoH$‹S – ì`` 800 .......... ..........
88,200 88,200

67/2 11 P.T.O.
 ny±Or ImVo
Zm_ O_m
_mbm Zrbm H$mbm _mbm Zrbm H$mbm
{ddaU {ddaU
< < < < < <
.......... .......... .......... .......... .......... .......... .......... ..........

.......... .......... .......... ..........

amoH$‹S> 12,000 9,000 amoH$‹S> 1,000

23,000 15,000 3,000 23,000 15,000 3,000

amoH$‹S> ImVm
Zm_ O_m
am{e am{e
{ddaU < {ddaU <
dgybr ImVm – boZXmam|
eof AmJo bmE 2,800 15,000
H$mo ^wJVmZ
dgybr ImVm – n[agån{V`m| H$m 38,000 AZmX[aV {~b 5,000
{dH«$`
H$mbm H$m ny±Or ImVm 1,000 .......... ..........

_mbm H$m nyy±Or ImVm 12,000

Zrbm H$m ny±Or ImVm 9,000

41,800 41,800
6

67/2 12
 Mala, Neela and Kala were partners sharing profits in the ratio of
3 : 2 : 1. On 1.3.2015 their firm was dissolved. The assets were realized
and liabilities were paid off. The accountant prepared Realisation
Account, Partners’ Capital Accounts and Cash Account, but forgot to post
few amounts in these accounts.
You are required to complete these below given accounts by posting
correct amounts.

Realisation Account
Dr. Cr.
Amount Amount
Particulars Particulars
< <
By Provision for bad
To Sundry Assets : 1,000
debts
Machinery 10,000 By Sundry Creditors 15,000

Stock 21,000 By Sheela’s Loan 13,000

By Repairs and
Debtors 20,000 1,200
Renewals Reserve
Prepaid Insurance 400 By Cash – Assets sold :
Investments 3,000
54,400 Machinery 8,000

To Mala’s Capital A/c

13,000 Stock 14,000
– Sheela’s Loan
To Cash – Creditors paid Debtors 16,000
15,000 38,000

To Cash – Dishonoured bill By Mala’s Capital –

5,000 2,000
paid Investments

To Cash – Expenses 800 .......... ..........

88,200 88,200

67/2 13 P.T.O.
 Capital Accounts
Dr. Cr.
Mala Neela Kala Mala Neela Kala
Particulars < < < Particulars < < <
.......... .......... .......... .......... .......... .......... .......... ..........

.......... .......... .......... ..........

To Cash 12,000 9,000 By Cash 1,000

23,000 15,000 3,000 23,000 15,000 3,000

Cash Account
Dr. Cr.
Amount Amount
Particulars < Particulars <
By Realisation A/c
To Balance b/d 2,800 15,000
– Creditors paid
To Realisation A/c
38,000 By Dishonoured bill 5,000
– Sale of assets
To Kala’s Capital A/c 1,000 .......... ..........

By Mala’s Capital A/c 12,000

By Neela’s Capital A/c 9,000

41,800 41,800

15. 1.1.2008 H$mo CX` VWm H$m¡eb Zo H«$_e… < 7,00,000 VWm < 3,00,000 H$s ñWm`r
ny±Or go EH$ gmPoXmar \$_© ~ZmB© & do AÀN>m ì`dgm` Mbm aho Wo VWm CgH$m {dñVma H$aZm
MmhVo Wo naÝVw ny±Or H$s H$_r Ho$ H$maU Eogm Zht H$a nm aho Wo & AV…, A{YH$ ny±Or Ho$
{bE CÝhm|Zo 1.1.2010 H$mo Jmo{dÝX H$mo EH$ Z`o gmPoXma Ho$ ê$n _| \$_© _| àdoe H$am`m &
Jmo{dÝX < 10,00,000 H$s ny±Or bm`m VWm CZHo$ ~rM Z`m bm^ gh^mOZ AZwnmV
3 : 2 : 5 V` hþAm & 1.1.2012 H$mo < 8,00,000 ny±Or Ho$ gmW bm^ _| 1/10 d| ^mJ Ho$
{bE CÝhm|Zo har H$mo EH$ Z`o gmPoXma Ho$ ê$n _| \$_© _| àdoe H$am`m {Ogo CgZo CX`,
H$m¡eb VWm Jmo{dÝX go ~am~a-~am~a àmßV {H$`m & 1.4.2014 H$mo Jmo{dÝX H$m XohmÝV hmo
J`m VWm CgHo$ bm^ H$m ^mJ CX` VWm har Ûmam ~am~a-~am~a bo {b`m J`m &
67/2 14
 JUZm H$s{OE :
(i) Jmo{dÝX Ho$ àdoe na CX` VWm H$m¡eb H$m Ë`mJ AZwnmV &
(ii) har Ho$ àdoe na CX`, H$m¡eb, Jmo{dÝX VWm har H$m Z`m bm^ gh^mOZ AZwnmV &
(iii) Jmo{dÝX H$s _¥Ë`w na CX`, H$m¡eb VWm har H$m Z`m bm^ gh^mOZ AZwnmV & 6
On 1.1.2008, Uday and K§aushal entered into partnership with fixed
capitals of < 7,00,000 and < 3,00,000 respectively. They were doing good
business and were interested in its expansion but could not do the same
because of lack of capital. Therefore, to have more capital, they admitted
Govind as a new partner on 1.1.2010. Govind brought < 10,00,000 as
capital and the new profit sharing ratio decided was 3 : 2 : 5. On 1.1.2012,
another new partner Hari was admitted with a capital of < 8,00,000 for
1/10th share in the profits, which he acquired equally from Uday,
Kaushal and Govind. On 1.4.2014 Govind died and his share was taken
over by Uday and Hari equally.
Calculate :
(i) The sacrificing ratio of Uday and Kaushal on Govind’s admission.
(ii) New profit sharing ratio of Uday, Kaushal, Govind and Hari on
Hari’s admission.
(iii) New profit sharing ratio of Uday, Kaushal and Hari on Govind’s
death.

16. ‘EŠg {b{_Q>oS>’ Zo < 100 àË`oH$ Ho$ 10,000 g_Vm A§em| H$mo < 100 à{V A§e Ho$
àr{_`_ na {ZJ©{_V H$aZo Ho$ {bE AmdoXZ Am_pÝÌV {H$E & am{e {ZåZ àH$ma go Xo` Wr :
AmdoXZ VWm Am~§Q>Z na – < 100 à{V A§e (< 50 àr{_`_ g{hV)
àW_ VWm ApÝV_ `mMZm na – eof
{ZJ©_Z nyU© ê$n go A{^XÎm hmo J`m & EH$ A§eYmaH$, {OgHo$ nmg 500 A§e Wo, Zo nyU©
A§e am{e H$m ^wJVmZ AmdoXZ Ho$ gmW H$a {X`m & EH$ AÝ` A§eYmaH$, {OgHo$ nmg 200
A§e Wo, Zo àW_ VWm ApÝV_ `mMZm am{e H$m ^wJVmZ Zht {H$`m & CgHo$ A§em| H$m haU
H$a {b`m J`m & haU {H$E JE A§em| H$mo < 19,000 _§o nyU© àXÎm nwZ: {ZJ©{_V H$a {X`m
J`m &
Cn`w©º$ boZXoZm| Ho$ {bE H$ånZr H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE & 8
AWdm
‘dmB© {b{_Q>oS>’ Zo < 10 àË`oH$ Ho$ 15,000 g_Vm A§em| H$mo {ZJ©{_V H$aZo Ho$ {bE AmdoXZ
Am_pÝÌV {H$E {OZ na < 6 à{V A§e _m±Jm J`m Wm, Omo {ZåZ àH$ma go Xo` Wo :
AmdoXZ na – < 2 à{V A§e
Am~§Q>Z na – < 1 à{V A§e
àW_ `mMZm na – < 3 à{V A§e

67/2 15 P.T.O.
 {ZJ©_Z nyU© ê$n go A{^XÎm hmo J`m VWm am{e {ZåZ àH$ma go àmßV hþB© :
10,000 A§em| na – < 6 à{V A§e
3,000 A§em| na – < 3 à{V A§e
2,000 A§em| na – < 2 à{V A§e
{ZXoeH$m| Zo CZ A§em| H$m haU H$a {b`m {OZ na < 6 à{V A§e go H$_ àmßV hþE Wo & haU
{H$E JE A§em| H$mo < 9 à{V A§e, < 6 à{V A§e àXÎm na nwZ: {ZJ©{_V H$a {X`m J`m &
Cn`w©º$ boZXoZm| Ho$ {bE H$ånZr H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE & 8
‘X Ltd.’ invited applications for issuing 10,000 equity shares of < 100 each
at a premium of < 100 per share. The amount was payable as follows :
On application and allotment – < 100 per share (including
< 50 premium)
On first and final call – The balance
The issue was fully subscribed. A shareholder holding 500 shares paid
the full share money with application. Another shareholder holding
200 shares failed to pay the first and final call money. His shares were
forfeited. The forfeited shares were re-issued for < 19,000 as fully paid
up.
Pass necessary journal entries for the above transactions in the books of
the company.
OR

‘Y Ltd.’ invited applications for issuing 15,000 equity shares of < 10 each
on which < 6 per share were called up, which were payable as follows :
On application – < 2 per share
On allotment – < 1 per share
On first call – < 3 per share
The issue was fully subscribed and the amount was received as follows :
On 10,000 shares – < 6 per share
On 3,000 shares – < 3 per share
On 2,000 shares – < 2 per share
The directors forfeited those shares on which less than < 6 per share
were received. The forfeited shares were re-issued at < 9 per share, as
< 6 per share paid up.
Pass necessary journal entries for the above transactions in the books of
the company.
67/2 16
17. Amo_, am_ VWm empÝV EH$ \$_© _| gmPoXma Wo VWm 3 : 2 : 1 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo &
1 Aà¡b, 2014 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :

am{e am{e
Xo`VmE± < gån{Îm`m± <
ny±§Or ImVo : >^y{_ VWm ^dZ 3,64,000
Amo_ 3,58,000 g§`§Ì VWm _erZar 2,95,000
am_ 3,00,000 \$ZuMa 2,33,000
empÝV 2,62,000 9,20,000 àmß` {~b 38,000
gm_mÝ` g§M` 48,000 {d{dY XoZXma 90,000
boZXma 1,60,000 ñQ>m°H$ 1,11,000
Xo` {~b 90,000 ~¢H$ 87,000
12,18,000 12,18,000

Cn`w©º$ {V{W H$mo {ZåZ eVm] na hZw_mZ H$mo EH$ Z`m gmPoXma ~Zm`m J`m :
(i) dh AnZr ny±Or Ho$ {bE < 1,00,000 bmEJm VWm bm^ _| CgH$m ^mJ 1/10
hmoJm &
(ii) dh »`m{V àr{_`_ Ho$ AnZo ^mJ Ho$ {bE Amdí`H$ am{e bmEJm & \$_© H$s »`m{V
H$m _yë`m§H$Z < 3,00,000 {H$`m J`m &

(iii) ~Å>o na ^wZmE JE àmß` {~bm| Ho$ {bE < 18,000 H$s EH$ Xo`Vm ~ZmB© OmEJr &

(iv) ñQ>m°H$ VWm \$ZuMa Ho$ _yë` H$mo 20% go KQ>m`m OmEJm &

(v) ^y{_ VWm ^dZ Ho$ _yë` H$mo 10% go ~‹T>m`m OmEJm &
(vi) gmPoXmam| Ho$ ny±Or ImVm| H$m g_m`moOZ hZw_mZ H$s ny±Or Ho$ AmYma na CZHo$ bm^
gh^mOZ AZwnmV _| Mmby ImVm ImobH$a {H$`m OmEJm &
nwZ_y©ë`m§H$Z ImVm VWm gmPoXmam| Ho$ ny±Or ImVo V¡`ma H$s{OE & 8
AWdm

67/2 17 P.T.O.
 Oo{d`a, `ygw\$ VWm O_Z EH$ \$_© _| gmPoXma Wo VWm 4 : 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vo
Wo & 1.4.2014 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :

am{e am{e
Xo`VmE± < gån{Îm`m± <
{d{dY boZXma 41,400 ~¢H$ _| amoH$‹S> 33,000
ny±Or ImVo : {d{dY XoZXma 30,450
KQ>m : Sy>~V G$Um| Ho$
Oo{d`a 1,20,000 {bE àmdYmZ 1,050 29,400
`ygw\$ 90,000 ñQ>m°H$ 48,000
O_Z 60,000 2,70,000 g§`§Ì VWm _erZar 51,000

^y{_ VWm ^dZ 1,50,000

3,11,400 3,11,400

`ygw\$ ˜am~ ñdmñÏ` go nr{‹S>V Wm, AV: CgZo \$_© go AdH$me boZo H$m Zmo{Q>g {X`m &
1.4.2014 H$mo EH$ g_Pm¡Vm hþAm, {OgH$s eV] {ZåZ àH$ma go Wt :

(i) ^y{_ VWm ^dZ Ho$ _yë` H$mo 10% go ~‹T>m`m OmEJm &
(ii) Sy>~V G$Um| Ho$ {bE àmdYmZ H$s A~ Amdí`H$Vm Zht h¡ &
(iii) ñQ>m°H$ H$m _yë` 20% go ~‹T>m`m OmEJm &
(iv) \$_© H$s »`m{V H$m _yë` < 54,000 V` {H$`m J`m & Cg_| go `ygw\$ Ho$ ^mJ H$mo
Oo{d`a VWm O_Z Ho$ ny±Or ImVm| _| g_m`mo{OV {H$`m OmEJm & CZH$m ^mdr bm^
gh^mOZ AZwnmV 2 : 1 h¡ &
(v) ZB© ~ZmB© JB© \$_© H$s gånyU© ny±Or Bg Vah go nwZ… g_m`mo{OV H$s OmEJr {H$ `h
Oo{d`a VWm O_Z Ho$ Z`o bm^ gh^mOZ AZwnmV _| hmo & BgHo$ {bE Amdí`H$ ZJX
bm`m OmEJm AWdm ^wJVmZ hmoJm &
nwZ_y©ë`m§H$Z ImVm VWm gmPoXmam| Ho$ ny±Or ImVo V¡`ma H$s{OE & 8

67/2 18
 Om, Ram and Shanti were partners in a firm sharing profits in the ratio
of 3 : 2 : 1. On 1st April, 2014 their Balance Sheet was as follows :
Amount Amount
Liabilities Assets
< <
Capital Accounts : Land and Building 3,64,000

Om 3,58,000 Plant and Machinery 2,95,000

Ram 3,00,000 Furniture 2,33,000

Shanti 2,62,000 9,20,000 Bills Receivables 38,000

General Reserve 48,000 Sundry Debtors 90,000

Creditors 1,60,000 Stock 1,11,000

Bills Payable 90,000 Bank 87,000

12,18,000 12,18,000

On the above date Hanuman was admitted on the following terms :

(i) He will bring < 1,00,000 for his capital and will get 1/10th share in
the profits.
(ii) He will bring necessary cash for his share of goodwill premium.
The goodwill of the firm was valued at < 3,00,000.
(iii) A liability of < 18,000 will be created against bills receivables
discounted.
(iv) The value of stock and furniture will be reduced by 20%.
(v) The value of land and building will be increased by 10%.
(vi) Capital accounts of the partners will be adjusted on the basis of
Hanuman’s capital in their profit sharing ratio by opening current
accounts.
Prepare Revaluation Account and Partners’ Capital Accounts.

OR

67/2 19 P.T.O.
 Xavier, Yusuf and Zaman were partners in a firm sharing profits in the
ratio of 4 : 3 : 2. On 1.4.2014 their Balance Sheet was as follows :

Amount Amount
Liabilities Assets
< <
Sundry Creditors 41,400 Cash at Bank 33,000

Capital Accounts : Sundry Debtors 30,450

Less : Provision for
Xavier 1,20,000 Bad Debts 1,050 29,400
Stock 48,000
Yusuf 90,000
Plant and Machinery 51,000
Zaman 60,000 2,70,000
Land and Building 1,50,000

3,11,400 3,11,400

Yusuf had been suffering from ill health and thus gave notice of
retirement from the firm. An agreement was, therefore, entered into as
on 1.4.2014, the terms of which were as follows :
(i) That land and building be appreciated by 10%.

(ii) The provision for bad debts is no longer necessary.

(iii) That stock be appreciated by 20%.

(iv) That goodwill of the firm be fixed at < 54,000. Yusuf’s share of the
same be adjusted into Xavier’s and Zaman’s Capital Accounts, who
are going to share future profits in the ratio of 2 : 1.

(v) The entire capital of the newly constituted firm be readjusted by

bringing in or paying necessary cash so that the future capitals of
Xavier and Zaman will be in their profit sharing ratio.

Prepare Revaluation Account and Partners’ Capital Accounts.

67/2 20
 IÊS> I
({dÎmr` {ddaUm| H$m {díbofU)
PART B
(Analysis of Financial Statements)
18. EH$ ~r_m H$ånZr Ûmam "H$_©Mm[a`m| H$mo ~moZg H$m ^wJVmZ' {ZåZ{b{IV _| go {H$g àH$ma H$s
J{V{d{Y h¡ ? 1
(i) {H«$`mH$bmn J{V{d{Y &
(ii) {Zdoe J{V{d{Y &
(iii) {dÎmr` J{V{d{Y &
(iv) {H«$`mH$bmn Ed§ {dÎmr` XmoZm| J{V{d{Y &
Amongst the following, ‘Payment of bonus to the employees’ by an
insurance company is which type of activity ?
(i) Operating activity.
(ii) Investing activity.
(iii) Financing activity.
(iv) Both operating and financing activity.

19. amoH$‹S> àdmh {ddaU V¡`ma H$aVo g_` EH$ {dÎmr` H$ånZr "aMZm {b{_Q>oS>' Ho$ boInmb Zo
"G$U na àmßV ã`mO' H$mo {dÎmr` J{V{d{Y`m| _| gpå_{bV H$a {b`m & Š`m Eogm H$aZo _|
dh ghr Wm ? H$maU Xr{OE & 1
While preparing Cash Flow Statement, the accountant of ‘Rachana Ltd.’,
a financing company, included ‘Interest received on loan’ in financing
activities. Was he correct in doing so ? Give reason.

20. H$ånZr A{Y{Z`_, 1956 H$s gyMr VI ^mJ I Ho$ AZwgma H$ånZr Ho$ pñW{V {ddaU _| {ZåZ
_Xm| H$mo {H$Z-{H$Z _w»` erf©H$m| VWm Cn-erf©H$m| Ho$ AÝVJ©V Xem©`m OmEJm : 4
(i) M¡H$ hñVo &
(ii) H$m`©-àJ{V-na H$m ñQ>m°H$ &
(iii) H$mnramBQ>²g &
(iv) ˜wXam Am¡µOma &
(v) Sy>~V G$Um| Ho$ {bE àmdYmZ &
(vi) bm^-hm{Z {ddaU Ûmam Xem©`m J`m G$UmË_H$$eof &
(vii) ~m°ÊS> &
(viii) AXÎm bm^m§e &

67/2 21 P.T.O.
 Under which major headings and sub-headings will the following items
be shown in the Balance Sheet of a company as per Schedule VI Part I of
the Companies Act, 1956 :
(i) Cheques in hand.
(ii) Stock of work-in-progress.
(iii) Copyrights.
(iv) Loose tools.
(v) Provision for bad debts.
(vi) Negative balance shown by the Statement of Profit and Loss.
(vii) Bonds.
(viii) Unpaid dividend.
21. EH$ H$ånZr H$m Mmby AZwnmV 2.1 : 1.2 h¡ & H$maU XoVo hþE ~VmBE {H$ {ZåZ{b{IV boZXoZm|
go `h AZwnmV ~‹T>oJm, KQ>oJm AWdm Bg_| H$moB© n[adV©Z Zht hmoJm :
(i) < 1,00,000 Ho$ 9% G$UnÌm| H$m emoYZ 10% Ho$ àr{_`_ na {H$`m &
(ii) XoZXmam| go < 17,000 àmßV {H$E &
(iii) _erZar Ho$ {dH«o$VmAm| H$mo < 2,00,000 Ho$ g_Vm A§em| H$m {ZJ©_Z {H$`m &
(iv) boZXmam| Ûmam {bIo JE < 7,000 Ho$ {d{Z_` nÌ ñdrH$ma {H$E & 4
The Current Ratio of a company is 2.1 : 1.2. State with reasons which of
the following transactions will increase, decrease or not change the ratio :
(i) Redeemed 9% debentures of < 1,00,000 at a premium of 10%.
(ii) Received from debtors < 17,000.
(iii) Issued < 2,00,000 equity shares to the vendors of machinery.
(iv) Accepted bills of exchange drawn by the creditors < 7,000.
22. H$_ bmJV na OoZ[aH$ XdmAm| H$m CËnmXZ H$aZo dmbr H$ånZr ‘\$m_m© {b{_Q>oS’> H$m
AmXe©-dmŠ` "ñdñW ^maV' h¡ & BgHo$ à~§YH$ VWm H$_©Mmar _ohZVr, B©_mZXma VWm
A{^ào[aV h¢ & 31.3.2014 H$mo g_mßV hþE df© _| H$ånZr H$m ewÕ bm^ XwJwZm hmo J`m &
AnZo {ZînmXZ go CËgm{hV H$ånZr Zo AnZo g^r H$_©Mm[a`m| H$mo {nN>bo df© H$s VwbZm _|
XwJwZr Xa go ~moZg XoZo H$m {ZU©` {H$`m &
31.3.2013 VWm 31.3.2014 H$mo g_mßV hþE dfm] Ho$ {bE H$ånZr H$m VwbZmË_H$ bm^-hm{Z
{ddaU {ZåZ àH$ma go h¡ :
\$m_m© {b{_Q>oS
VwbZmË_H$ bm^-hm{Z {ddaU
ZmoQ> 2012 – 13 2013 – 14 {Zanoj %
{ddaU n[adV© Z
g§»`m < < n[adV©Z <
H$m`©H$bmnm| go AmJ_ 20,00,000 30,00,000 10,00,000 50
KQ>m – H$_©Mmar {hVbm^ ì`` 12,00,000 14,00,000 2,00,000 16.67
H$a nyd© bm^ 8,00,000 16,00,000 8,00,000 100
H$a 25% H$s Xa go 2,00,000 4,00,000 2,00,000 100
H$a níMmV² bm^ 6,00,000 12,00,000 6,00,000 100

67/2 22
 (i) 31 _mM©, 2013 VWm 2014 H$mo g_mßV hþE dfm] Ho$ {bE ewÕ bm^ AZwnmV H$s
JUZm H$s{OE &
(ii) {H$Ýht Xmo _yë`m| H$s nhMmZ H$s{OE, {OÝh| ‘\$m_m© {b{_Q>oS>’ àMm[aV H$aZm MmhVr
h¡ & 4

The motto of ‘Pharma Ltd.’, a company engaged in the manufacturing of

low-cost generic medicines, is ‘Healthy India’. Its management and
employees are hardworking, honest and motivated. The net profit of the
company doubled during the year ended 31.3.2014. Encouraged by its
performance, the company decided to pay bonus to all employees at
double the rate than last year.

Following is the Comparative Statement of Profit and Loss of the

company for the years ended 31.3.2013 and 31.3.2014.

Pharma Ltd.
Comparative Statement of Profit and Loss

Note 2012 – 13 2013 – 14 Absolute %

Particulars No. Change < Change
< <
Revenue from
20,00,000 30,00,000 10,00,000 50
operations
Less : Employees
12,00,000 14,00,000 2,00,000 16.67
benefit expenses

Profit before tax 8,00,000 16,00,000 8,00,000 100

Tax at 25% rate 2,00,000 4,00,000 2,00,000 100

Profit after tax 6,00,000 12,00,000 6,00,000 100

(i) Calculate Net Profit Ratio for the years ending 31th March, 2013
and 2014.

(ii) Identify any two values which ‘Pharma Ltd.’ is trying to propagate.
67/2 23 P.T.O.
23. 31.3.2014 H$mo gmoba nm°da {b{_Q>oS> H$m pñW{V {ddaU {ZåZ àH$ma go h¡ :
gmoba nm°da {b{_Q>oS>
pñW{V {ddaU
ZmoQ> 31.3.2014 31.3.2013
{ddaU g§»`m < <
I – g_Vm VWm Xo`VmE± :
1. A§eYmar$ {Z{Y`m± :
(A) A§e ny±Or 24,00,000 22,00,000

(~) g§M` Ed§ Am{YŠ` 1 6,00,000 4,00,000

2. AMb Xo`VmE± :
XrK©H$mbrZ G$U 4,80,000 3,40,000
3. Mmby Xo`VmE± :
(A) ì`mnm[aH$ Xo`VmE± 3,58,000 4,08,000

(~) bKwH$mbrZ àmdYmZ 1,00,000 1,54,000

Hw$b 39,38,000 35,02,000

II – n[agån{Îm`m± :
1. AMb n[agån{Îm`m± :
(A) ñWm`r n[agån{Îm`m± :
(i) _yV© 2 21,40,000 17,00,000

(ii) A_yV© 3 80,000 2,24,000

2. Mmby n[agån{Îm`m± :
(A) Mmby {Zdoe 4,80,000 3,00,000

(~) ñQ>m°H$ (_mbgyMr) 2,58,000 2,42,000

(g) ì`mnm[aH$ àm{ßV`m± 3,40,000 2,86,000

(X) amoH$‹S> VWm amoH$‹S> Vwë` 6,40,000 7,50,000

Hw$b 39,38,000 35,02,000

67/2 24
 ImVm| Ho$ ZmoQ²>g

ZmoQ> 31.3.2014 H$mo 31.3.2013 H$mo

{ddaU
g§. < <
1 g§M` Ed§ Am{YŠ`
6,00,000 4,00,000
Am{YŠ` (bm^-hm{Z {ddaU H$m eof)
2 _yV© n[agån{Îm`m±
25,40,000 20,00,000
_erZar
(4,00,000) (3,00,000)
KQ>m : EH${ÌV _yë`õmg
3 A_yV© n[agån{Îm`m±
80,000 2,24,000
»`m{V

A{V[aº$ gyMZm :

df© _| EH$ _erZar {OgH$s bmJV < 48,000 Wr VWm {Og na EH${ÌV _yë`õmg
< 32,000 Wm H$mo < 12,000 _| ~oM {X`m J`m &

amoH$‹S> àdmh {ddaU V¡`ma H$s{OE & 6

67/2 25 P.T.O.
 Following is the Balance Sheet of Solar Power Ltd. as at 31.3.2014 :
Solar Power Ltd.
Balance Sheet
Note 31.3.2014 31.3.2013
Particulars No. < <
I – Equity and Liabilities :
1. Shareholder’s Funds :
(a) Share Capital 24,00,000 22,00,000
(b) Reserves and Surplus 1 6,00,000 4,00,000

2. Non-Current Liabilities :
Long-Term Borrowings 4,80,000 3,40,000
3. Current Liabilities :
(a) Trade Payables 3,58,000 4,08,000
(b) Short-Term Provisions 1,00,000 1,54,000
Total 39,38,000 35,02,000
II – Assets :
1. Non-Current Assets :
(a) Fixed Assets :
(i) Tangible 2 21,40,000 17,00,000
(ii) Intangible 3 80,000 2,24,000
2. Current Assets :
(a) Current Investments 4,80,000 3,00,000
(b) Inventories 2,58,000 2,42,000
(c) Trade Receivables 3,40,000 2,86,000
(d) Cash and Cash equivalents 6,40,000 7,50,000
Total 39,38,000 35,02,000

67/2 26
 Notes to Accounts
As on As on
S.No. Particulars 31.3.2014 31.3.2013
< <
1. Reserves and Surplus
Surplus (balance in Statement of 6,00,000 4,00,000
Profit and Loss)
2. Tangible Assets
25,40,000 20,00,000
Machinery
Less : Accumulated Depreciation (4,00,000) (3,00,000)
3. Intangible Assets
80,000 2,24,000
Goodwill

Additional Information :

During the year a piece of machinery costing < 48,000 on which

accumulated depreciation was < 32,000 was sold for < 12,000.

Prepare Cash Flow Statement.

IÊS> I
(A{^H${bÌ boIm§H$Z)
PART B
(Computerized Accounting)

18. Q>o~ëg Ho$ _Ü` gå~ÝY Ho$ Cn`moJ Ho$ {bE à`wº$ gm_mÝ` \$sëS²>g> H$mo H$hVo h¢ :

(i) Hw§$Or \$sëS²>g &

(ii) Q>o~b \$sëS²>g &
(iii) à_wI \$sëS²>g &
(iv) g§`wº$ \$sëS²>g & 1

The common fields used in a relationship between tables are called :

(i) Key fields.
(ii) Table fields.
(iii) Main fields.
(iv) Joint fields.
67/2 27 P.T.O.
19. goëg OZ©b Ho$ {bE "Eg.Oo.' VWm ZB© {X„r aobdo ñQ>oeZ Ho$ {bE "EZ.S>r.Ama.Eg.'
{ZåZ{b{IV _| go {H$gHo$ CXmhaU h¢ ?
(i) IÊS> (ãbm°H$) H$moS²>g &
(ii) ñ_¥{V ghm`H$ (Zo_mo{ZH$) H$moS²>g &
(iii) AZwH«${_H$ (grŠ`yÝer`b) H$moS²>g &
(iv) boIm§H$Z H$moS²>g & 1
‘SJ’ for sales journal and ‘NDRS’ for New Delhi railway station are the
examples of which of the following ?
(i) Block codes.
(ii) Mnemonic codes.
(iii) Sequential codes.
(iv) Accounting codes.

20. "S>r.~r.E_.Eg.' H$m Š`m AW© h¡ ? BgHo$ {H$Ýht Xmo bm^m| H$mo g_PmBE & 4
What is meant by ‘DBMS’ ? Explain any two of its advantages.

21. J«m\$/MmQ>© H$m Cn`moJ H$aZo Ho$ {H$Ýht Xmo bm^m| H$mo g_PmBE & 4
Explain any two advantages of using graphs/charts.

22. Mmby doVZ-ànÌ Ad{Y Ho$ {bE "H$Q>m¡{V`m|' H$s JUZm H$aVo g_` Ü`mZ _| aIo OmZo dmbo
VÎdm| H$m C„oI H$s{OE & 4
State the elements which are considered while calculating ‘deductions’ for
current payroll period.

23. Cg Aew{Õ H$s nhMmZ H$s{OE Omo EH$ ñà¡S>erQ> na Cg g_` {XImB© XoVr h¡ O~ g¡b
gå~ÝY d¡Y Zht hmoVm & Cg Aew{Õ H$mo ewÕ H$aZo Ho$ MaUm| H$m ^r C„oI H$s{OE & 6
Identify the error that appears on a spreadsheet when a cell reference is
not valid. Also state the steps to correct that error.

67/2 28
 Q. Set No. Marking Scheme 2014-15 Distribution
of marks
67 67 67 Accountancy (055)
/1 /2 /3 Outside Delhi – 67/2
Expected Answers / Value points
6 1 4 Q. Nirman Ltd. Issued.............................final call was. 1 Mark

Ans. (iii) R 2,21,000

5 2 6 Q. Give the....................................... forfeiture of share. 1 Mark

Ans.
Cancelling the shares for non payment of amount due.
[ or any other suitable meaning ]

4 3 2 Q. Anant, Gulab and Khushbu....................Khushbu. 1 Mark

Ans.
Journal
Date Particulars LF Dr (R) Cr (R)
2014 Gulab’s Capital A/c Dr. 8,000
April Khushbu’s Capital A/c Dr. 32,000
1st To Anant’s Capital A/c 40,000
(Being treatment of goodwill in change in
profit sharing ratio recorded i.e 1:4)

3 4 1 Q. On the death......................Account. 1 Mark

Ans.
(iii) Debit of Profit and Loss Suspense Account.

2 5 5 Q. Geeta, Sunita and Anita.................... of your answer. 1 Mark

Ans. No, the accountant’s didn’t give correct treatment as capital account of the partners are
to be debited.
1 6 3 Q. In the absence of................... allowed. 1 Mark

Ans. (ii) @ 6 % per annum

- 7 - Q. State any three...................can be utilized.

Ans.
Securities premium can be utilized for the following purposes:-(any three)
i) In purchasing its own shares. 1 mark
ii) Writing off preliminary expenses of the company each
=
iii)Writing off the expenses of, Or the commission paid or discount allowed on any issue of
3 Marks
securities or debentures of the company.
iv) Providing for the premium payable on the redemption of any redeemable Preference
shares or of any Debenture of the company.

8 8 8 Q. On 1-4-2013 Brij and Nandan......................year ended 31-3-2014.

Ans.

15
 In the books of Brij and Nandan
Profit & Loss Appropriation A/c
Dr. For the year ended 31st March 2014 Cr.
Particulars Amount (R) Particulars Amount (R)
To Interest on Capital: By Profit and loss A/c 2,00,000
Brij’s Capital A/c 80,000 =
Nandan’s CapitalA/c 1,20,000 1
2,00,000 1 3 marks

2,00,000 2,00,000
Working Notes:
Interest on capital of Brij = R 1,20,000
Inter. on capital ofNandan = R 1,80,000 1
Proportionate profit = 1,20,000/ 3,00,000 x 2,00,000 = R 80,000
= 1,80,000 / 3,00,000 X 2,00,000 = R 1,20,000
Note. If an examinee has not given the working notes but prepared the correct profit and
loss appropriation account full credit to be given
- 9 - Q. ‘India Auto Ltd.’.......................’Notes to Accounts’
Ans.
Balance Sheet of India Auto Ltd.
As at ....................(As per revised schedule VI)
Particulars Note No. Amount R Amount R
Current year Previous year
EQUITY & LIABILITIES
I Shareholder’s funds :
a) Share Capital 1 2,49,97,000 ½

Notes to Accounts :
Particulars R
(1) Share Capital
Authorised Capital :
7,00,000 equity shares of R 100 each 7,00,00,000 ½
Issued Capital
50,000 equity shares of R 100 each (issued to vendor)
50,00,000 2, 50,00,000 1
2,00,000 equity shares of100 each 2,00,00,000

Subscribed and fully paid

50,000 equity shares of R 100 ea
ch (issued to vendor)
50,00,000 ½
1,99,900 equity shares of R 100 each 1,99,90,000 2
½ 1
Add: Share forfeited A/c 7,000 / 2,49,97,000
/
/
2 =
/
Note: 50,000 equity shares of R 100 each issued to vendors 3 Marks
/
10 10 10 Q. ‘Good Blankets Ltd. ............................to the society.
Ans. /
(a) Books of Good Blankets Ltd. 2
Journal 1
Date Particulars LF Dr (R)/ Cr (R)
i. Machinery A/c Dr. 7,00,000
2 7,00,000
To Vendors A/c 1
(Being purchase of machinery from 1
/
vendors)
2
16 1
/
2
 ii. Vendors A/c Dr. 7,00,000
To Equity Share Capital A/c 5,00,000
To 8% Debentures A/c 2,00,000
(Being issue of equity shares and 1
debentures at par to vendors)
OR
Vendors A/c Dr. 5,00,000 ½
To Equity Share Capital A/c 2 5,00,000
(Being issue of equity shares ) /
/
Vendors A/c Dr. 2,00,000 ½
/
To 9% Debentures A/c 2/ 2,00,000
(Being issue debentures at par )
//
/2
b) Values which the company wants to communicate to the society: (Any/1one)
Social responsibility // 1
Generation of employment opportunities in rural areas /1mark
2
21 (1+1+1)
(OR any other suitable value.) 3 Marks
1/
/2
- 11 - Q. The following.........................to his executors.
21
Ans.
Dr. C’s Capital A/c 1/ Cr.
Particulars Amount R Particulars /Amount
2 R
By Balance b/d ½ 2 7,500
To C’s Executors A/c 14,813 By Reserve Fund ½ 2 1 1,200
½
By Interest on capital 2 ½ / / 113
By A’s Capital A/c ½ / 2 / 2 3,500
1 By B’s Capital A/c 2 /½ / 1,750
/ By P & L Suspense / /2 1 750
/
2 14,813 14,813
/ // /
/ // /2
Working notes:
/ 2/ /1
i. Calculation of Interest on Capital: 7,500 x 6/100 x 3/12 = R 113 =
/
ii. Calculation of Share of Profit : 12,000 x 3/12 x ¼ = R 750 / 1 /2 4 Marks
iii. Share in Goodwill : 31,500/3 = 10,500 x2 = 21,000 x ¼ = R 25,250 // 21
Note: No marks for working notes 12 12 /
12 12 12 Q. Prem, Param and Priya................................and Priya. / 11 /2
Ans. 2 // 2 1
Journal
1 22 1 /
Date Particulars LF Dr (R) Cr (R)
/ 11 /2
Param’scurrent a/c Dr. 1,55,000
Priya’s Current A/c Dr. // 2 1
21,55,000 2
To Prem’s Current A/c 1 22 1
/ 3,10,000
(Change in profit sharing ratio / 1 /2
incorporated retrospectively) 2 / 2
Working notes : 2
Table showing adjustments
Particulars Prem (R) Param(R) Priya (R) Total (R)
Profits already distributed (Dr.) 3,10,000 4,65,000 7,75,000 15,50,000 1

Profits to be distributed (Cr.) 6,20,000 3,10,000 6,20,000 15,50,000 1

2
Net effect 3,10,000(Cr) 1,55,000(Dr) 1,55,000(Dr) --- (2+1+1)
Note: Working notes in any form to be given full credit 4 Marks

17
14 13 15 Q. Ananya Ltd...................................redeemed.
Ans.
Dr. Cr.
9% Debentures A/c
Date Particulars LF Amount Date Particulars LF Amount
(R) (R)
2009 To Balance c/d 1,00,00,000 2008 By Debentures 95,00,000
Mar 31 Apr 1 app & all A/c
By Discount on 5,00,000
issse of
debentures A/c 1
1,00,00,000 1,00,00,000
2010 To Balance c/d 1.00,00,000
2009 By Balance b/d 1.00,00,000
Mar 31 1,00,00,000 1 1,00,00,000
Apr 1
2011 To Debenture 10,00,000 2010 By Balance b/d 1,00,00,000
Mar 31 holders A/c Apr 1
Mar 31 90,00,000 1 1mark
To Balance c/d
1,00,00,000 1,00,00,000 for each
2012 To Debenture 20,00,000 2011 By Balance b/d 90,00,000 year
Mar 31 Holder A/c Apr 1 1x6
Mar 31 70,00,000 1
To Balance c/d
90,00,000 90,00,000
2013 To Debenture 30,00,000 2012 By Balance b/d 70,00,000 =
Mar 31 Holder A/c Apr 1 1
Mar 31 To Balance c/d 40,00,000
6 Marks
70,00,000 70,00,000

2014 To Debenture 40,00,000 2013 By Balance B/d 40,00,000

Mar 31 holders A/c Apr 1 1

40,00,000 40,00,000

18
15 14 13 Q. Mala, Neela and Kala....................................amounts.
Ans.

Dr Realisation A/c Cr.

Particulars Amt (R) Particulars Amt (R)
To Sundry Assets: By Provision for bad debts 1,000
Machinery 10,000 By Sundry Creditors 15,000
Stock 21,000 By Sheela’s Loan 13,000
Debtors 20,000 By Repairs and Renewals 1,200 1
Prepaid Insurance 400 reserve
Investments 3,000 54,400 By cash – Assets sold:
Machinery 8,000
To Mala’s capital A/c 13,000 Stock 14,000
--Sheela’s Loan Debtors 16,000 38,000
To Cash- creditors paid 15,000 By Mala’s Capital-Investments 2,000
To Cash- dishonoured bill paid 5,000 By Loss Transferred to
To Cash- Expenses 800 Partners’ Capital A/c:
Mala 9,000
Neela 6,000 1
Kala 3,000 18,000
88,200 88,200

Partner’s Capital A/c

Particulars Mala Neela Kala Particulars Mala Neela Kala
(R) (R) (R) (R) (R) (R)
To Realisation A/c
1 9,000 6,000 3,000 By Balance b/d 10,000 15,000 2,000 1
4
To Realisation A/c 2,000 ___ ___ By Realisation 13,000 ___ ___
1 1
A/c
To Cash A/c 12,000 9,000 ___
___ ___ 1,000
By Cash A/c
23,000 15,000 3,000 23,000 15,000 3,000

Dr. Cash A/c Cr.

Particulars Amount (R) Particulars Amount (R)
To balance b/d 2,800 By Realisation A/c – 15,000
To realisation A/c – Sale of 38,000 Creditors paid
Assets By Dishonoured bill 5,000 1
To Kala’s Capital A/c 1,000 By Realisation A/c 800 1
(Expenses) =
By Mala’s capital A/c 12,000 6 Marks
By Neela’s Capital A/c 9,000
41,800 41,800

13 15 14 Q. On 1-1-2008, Uday........................Govind’s death.

Ans.
1. Calculation of Sacrificing ratio

Sacrificing Ratio of Uday 5/10 – 3/10 = 2/10 1

Sacrificing Ratio of Kaushal 5/10 – 2/10 = 3/10 1 2
Sacrificing Ratio =2:3

19
 New profit sharing ratio of Uday Kaushal Govind and Hari :
Uday new share 3/10 -1/30 = 9/30-1/30 = 8/30 ½
2
Kaushal new share 2/10 – 1/30 = 6/30-1/30 = 5/30 ½

Govind new share 5/10 -1/30 = 15/30 -1/30 = 14/30 ½

Hari new share 1/30+1/30+ 1/30 = 3/30 ½

New ratio = 8:5:14:3

New profit sharing ratio on gobind’s death = Uday 8/30 +7/30 = 15/30
Kaushal new share = 5/30 ½ ½

Hari new profit sharing ratio= 3/30 +7/30 =10/30 ½

2
New ratio = 15:5:10 or 3:1:2 ½ =
2. New Profit sharing ratio of Uday, Kaushal, Govind and Hari on Hari’s admission is 8:5:14:3 6 Marks
3. New Profit sharing ratio of Uday, Kaushal and Hari on Govind’s death is 3:1:2.
- 16 - Q. “X Ltd. .................................of the company.
Ans.
In the books of X Ltd.
Journal
Date Particulars L.F. Debit ( ) Credit ( )

(i) Bank A/c Dr. 10,50,000

To Equity Share Application & 10,50,000 1
Allotment A/c
(Being application and allotment money
received with premium )
(ii) Equity Share App & Allotment A/c Dr. 10,50,000
To Equity Share Capital A/c 5,00,000
To Calls in advance A/c 50,000
To Securities premium/ Securities
premium Reserve A/c 5,00,000 1½
(Being application and allotment money
transferred to share capital )
(iii) Equity Share First & final call A/c Dr. 10,00,000
To Equity share Capital a/c 5,00,000
To securities premium/ Securities 5,00,000 1
premium Reserve A/c
(Being first call money due with premium)
(iv) Bank A/c Dr. 9,30,000
Calls in advance A/c Dr. 50,000
Calls in arrear A/c Dr. 20,000 1
To Equity Share First and final call A/c 10,00,000

Or
Bank a/c Dr. 9,30,000
Calls in advance a/c Dr. 50,000
To equity share first and final call a/c 9,80,000
(Being first call money received with
exception of 200 shares)

20
 (v) Equity Share capital A/c Dr. 20,000
Securities premium A/c Dr. 10,000
To Share forfeiture A/c 10,000 1½
To Equity share First and final call A/c 20,000
/ Calls in arrear A/c
(Being 200 shares forfeited)
(vi) Bank A/c Dr. 19,000
Share forfeited A/c Dr. 1,000
To Equity share Capital A/c 20,000 1
(Being shares reissued)
(vii) Share forfeited A/c Dr. 9,000
To Capital reserve A/c 9,000 1
(Being balance of share forfeited
transferred to capital reserve A/c) =
8 Marks
16 OR
OR Q. ‘Y Ltd. .........................................of the company.
Ans.
In the books of Y Ltd.
Journal
Date Particulars L.F. Debit ( ) Credit ( )

(i) Bank A/c Dr. 30,000

To Equity Share Application A/c 30,000 ½
(Being application money received)
(ii) Equity Share Application A/c Dr. 30,000
½
To Equity Share Capital A/c 30,000
(Being application money transferred to
share capital )
(iii) Equity Share Allotment A/c Dr. 15,000
To Equity share Capital a/c 15,000 1
(Being allotment money due)
(iv) Bank A/c Dr. 13,000
To Equity share Allotment A/c 13,000 1
OR
Bank A/c Dr. 13,000
Calls in arrears A/c Dr. 2,000
To Equity share Allotment A/c 15,000
(Being allotment money received)
(v) Equity Share First Call A/c Dr. 45,000 1
To Equity share Capital a/c 45,000
(Being First call money due)
(vi) Bank A/c Dr. 30,000
To Equity Share First call A/c 30,000 1
OR
Bank A/c Dr. 30,000
Calls in arrears A/c Dr. 15,000
To Equity share first call A/c 45,000
(Being First call money received)

21
 (vii) Equity Share Capital A/c Dr. 30,000 1
To share forfeited A/c 13,000
To Equity share Allotment A/c 2,000
To Equity share First call A/c 15,000
OR
Equity Share Capital A/c Dr. 30,000
To share forfeited A/c 13,000
To calls in arrear A/c 17,000
(Being shares forfeited)
(viii) Bank A/c Dr. 45,000
1
To Equity Share Capital A/c 30,000
To Securities premium A/c/ securities 15,000
premium reserve A/c
(Being 5000 shares reissued at 9 per
share, 6 paid up)
(ix) Share Forfeited A/c Dr. 13,000 1
To capital reserve A/c 13,000
(Being balance of share forfeited =
transferred to capital reserve A/c) 8 Marks

17 17 17 Q. Om, Ram and Shanti.......................... Capital Accounts.

Ans.
Revaluation A/c
Dr Cr
Particulars Amt (R) Particulars Amt (R)
To liabilities for B/R ½ 18,000 By land and building ½ 36,400
discounted By loss transferred to :
To stock ½ 22,200 Om 25,200 2½
To Furniture 46,600 Ram 16,800 ½
½
Shanti 8,400 50,400
86,800 86,800

Partner’s Capital A/c

Particulars Om Ram Shanti Particulars Om Ram Shanti
(R) (R) (R) (R) (R) (R)
To Revaluation 25,200 16,800 8,400 By Balance b/d 3,58,000 3,00,000 2,62,000
A/c 1 By General 1 24,000 16,000 8,000 5
Reserve A/c 1
9,200 1,16,600
To Current 1 By premium A/c 15,000 10,000 5,000
A/cs By current A/c ½ 78,200

To Balance c/d 4,50,000 3,00,000 1,50,000

½
4,75,200 3,26,000 2,75,000 4,75,200 3,26,000 2,75,000

Hanuman’s Capital A/c

Dr Cr
Particulars Amt (R) Particulars Amt (R)
To Balance c/d 1,00,000 By Bank A/c ½ 1,00,000
½
1,00,000 1,00,000

22
 Working Notes:
Hanuman’s capital = 1,00,000
Hanuman’s share = 1/10
Capital of the firm = 1,00,000 X 10 = 10,00,000
Less: Hanuman’s capital = 1,00,000
2½+ 5+
9,00,000 ½ =
Om’s capital = 9,00,000 X 3/6 = 4,50,000 8 Marks
Ram’s capital = 9,00,000 X 2/6 = 3,00,000
Shanti’s capital = 9,00,000 X 1/6 = 1,50,000
Hanuman’s capital = 1,00,000

Note : No marks for working notes.

17 17 17 Q. Xavier, Yusuf...................................accounts.
OR OR OR Ans.

Revaluation A/c
Dr Cr
Particulars Amt (R) Particulars Amt (R)
To loss transferred to: By land and building A/c ½ 15,000
Xavier 11,400 By provision for Bad debts 1,050
Y usuf 8,550 A/c ½ 2
Zaman 5,700 ½ 25,650 By stock A/c ½ 9,600

25,650 25,650

Partner’s Capital A/c

Particulars Xavier Yusuf Zaman Particulars Xavier Yusuf Zaman
(R) (R) (R) (R) (R) (R)
To Yusuf’s 12,000 ___ 6,000 By Balance b/d 1,20,000 90,000 60,000
By Revaluation A/c 11,400 8,550 5,700
capital A/c
By Xavier’s Capital ___ 12,000 ___ 6
To Yusuf’s ___ 1,16,550 ___
A/c
Loan A/c By Zaman’s Capital ___ 6,000 ___
To balance 1,19,400 ___ 59,700 A/c
c/d
1,31,400 1,16,550 65,700 1,31,400 1,16,550 65,700

To Balance 1,19,400 ___ 59,700 By Balance b/d 1,19,400 ___ 59,700

c/d

Working Notes:

1. Gaining Ratio = New share – old share

Xavier = 2/3 – 4/9 = 2/9 =
Zaman = 1/3 – 2/9 = 1/9 8 marks
Gaining ratio = 2:1
Yusuf’sshare of Goodwill = 54,000 X 3/9 = 18,000
Xavier’s capital a/c = 18,000 X 2/3 = 12,000
Zaman’s Capital A/c = 18,000 x 1/3 = 6,000

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 2. Xavier’s Capital = 1,19,400
Zaman’s capital =59.700
Total capital = 1,19,400 + 59,700 = 1,79,100
Xavier’s share = 1,79,000 X 2/3 = 1.19,400
Zaman’s share = 1,79,000 X 1/3 = 59,700

Note : No marks for working notes.

PART B
(Financial Statements Analysis)
- 18 - Q. Amongst................................activity. 1 Mark
Ans.
(i) Operating Activity
- 19 - Q. While preparing.....................reason.
Ans. No, he was not correct. ½
Reason: Interest received on loan will be operating activity for a financing company. ½
=1 Mark
- 20 - Q. Under which.................................. dividend.
Ans.
S.No. Items Headings Sub headings
1 Cheque in hand Current assets Cash and cash
equivalents

2 Stock of work in progress Current assets Inventory

3 Copyright Non current assets Fixed assets-intangible ½x8

=
4 Loosetools Current assets Inventory 4 Marks

5 Provision for bad debts Current liabilities Short term provisions

6 Negative balance as shown by Shareholder’s funds Reserve and Surplus

statement of Profit and Loss as negative item

7 Bonds Non current liabilities Long term borrowings

8 Unpaid dividend Current liabilities Other current

liabilities

21 21 21 Q. The current..........................................creditors.
Ans.
Reason

i) Increase if redemption of debentures takes place in the current

/Decrease year where outstanding debentures considered as current
liability in such case ratio will increase. 1x4
=
Alternatively 4 Marks

Redemption of Debenture will decrease cash but current

liabilities will remain the same.

ii) No change It will increase cash and decrease debtors with the same
amount. No change in current assets and current liabilities.

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 iii) No change Both current assets and current liabilities are not affected,

iv) No change No change in current assets and current liabilities. Because

increase in one current liability results in decrease in
another current liability with the same amount.

22 22 22 Q. The motto......................................... to propagate.

Ans.
a) Net Profit Ratio = Net Profit / Revenue from operations x100 1

As on 31-03-2013 = Net Profit / Revenue from operations x100 2

= 6,00,000 / 20,00,000 x 100
= 30% ½
As on 31-03-2014 = Net Profit / Revenue from operations x100
= 12,00,000 / 30,00,000 x 100
½
= 40%
1 mark for formula and half a mark for calculation of profit of each year.

b) Values: (Any two)

Participation of Employees in excess profits.
Treating employees a part of the company.
Ethical practices of company 2
Hardwork and honesty of employees.
Serving the organisation with dignity. =
(Or any other suitable value) 4 Marks

23 23 23 Q. Following ..............................statement.

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 Cash flow statement of Solar Power Ltd.
For the year ended 31st March 2014 as per AS-3 (Revised)
Particulars Details (R) Amount (R)
A. Cash Flows from Operating Activities:
Net Profit before tax & extraordinary items 2,00,000
Add: Non cash and non-operating charges
Goodwill written off 1,44,000
Depreciation on machinery 1,32,000
Loss on sale of machinery 4,000
Operating profit before working capital changes 4,80,000
Less: Increase in Current Assets
Increase in trade receivables (54,000)
Increase in inventories (16,000)
Less: Decrease in Current Liabilities (70,000)
Decrease in trade payables (50,000)
Decrease in short term provisions (54,000)
3
Cash generated from Operating Activities (1,74,000) 3,06,000
B. Cash flows from Investing Activities :
Purchase of machinery (5,88,000)
Sale of machinery 12,000 (5,76,000) 1
Cash used in investing activities
C. Cash flows from Financing Activities:
Issue of share capital 2,00,000
1
Money raised from borrowings 1,40,000 3,40,000
Cash from financing activities

Net increase in cash & cash equivalents (A+B+C) 70,000

Add: Opening balance of cash & cash equivalents:
Current Investments 3,00,000
Cash & cash equivalents 7,50,000 10,50,000

Closing Balance of cash & cash equivalents:

Current Investments 4,80,000
Cash & cash equivalents 6,40,000 11,20,000

Working Notes:
Machinery A/c.
Dr Cr ½
Particulars R Particulars R
1
To Balance b/d 20,00,000
1
By Bank a/c 12,000
By Accumulated 32,000
Depreciation
By Loss on sale of machinery 4,000
To Bank 5,88,000 By Balance c/d 25,40,000
25,88,000 25,88,000

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 Accumulated Depreciation A/c
Dr Cr ½
Particulars R Particulars R
1
To Machinery Disposal 32,000 By Balance b/d 3,00,000
To Balance c/d 4,00,000 By Depreciation a/c 1,32,000
4,32,000 4,32,000

Notes:
If short term provision is treated as provision for tax or provision for doubtful debts,
full credit is to be given.
If short term provision is treated as proposed dividend then cash flow from operating
activity will be R 4,60,000 and financing activity will be R 1,86,000. =
If the examinee has presented the working notes with asset disposal account full 6 Marks
credit to be given.
If the examinee has treated current investments as current assets then the cash flow
from operating actvitities will be Rs.1,26,000 and increase or decrease in cash and
cash equvalents will be Rs.1,10,000

PART B
(Computerized Accounting)
19 18 18 Q. The common ..............................fields. 1 Mark
Ans.
(i) Key fields
18 19 19 Q. SJ for sales...............................accounting codes.
Ans. 1 Mark
(ii) Mnemonic Codes
21 20 22 Q. What is meant.......................advantages.
Ans.
DBMS is a collection of programs that help a business to create and maintain a database. It is
2
a general purpose software system that facilitates the process of defining, constructing and
manipulating database for various applications

Advantages of DBMS (Any Two) with explanation:

1. Reduce Data redundancy. 2

2. Information protection
3. Data dictionary management.
4. Greater consistency
5. Reduced cost =
4 Marks
6. Backup and recovery facility.

22 21 20 Q. Explain.................................graph/charts.
Ans.
Following are the advantages of using Graph/ Charts: (Any two)
2+2
1. Help to explore. =
2. Help to present. 4 Marks
3. Help to convince. Suitable explanation.

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20 22 21 Q. State the ......................payroll period.
Ans.
Elements considered while calculating ‘deductions’ for current payroll period are:

1. PT professional tax applicable in state. 4 Marks

2. TDS- Tax deduction at source which is a statutory deduction and deducted towards
monthly income tax liability.
3. Recovery of loan instatement if taken up by employee.

Any other deduction e.g ‘advance against salary or festival advance etc.

- 23 - Q. Identify the.....................that error.

Ans.
#REf! Error. To correct this error..

1. Optionally click the cell that displays the error, click the button that appears, and
then clicks show calculation steps if appears.
2. Review the following causes and solutions:
Deleting cell references to by other formulas, or pasting moved cells referred
to by other formulas.
Change the formulas, or restore the cells on the worksheet by Undo
immediately after deletion or pasting of cells.
Using an object linking and embedding (OLE) link to a program that is not
running.
Start the program..
Linking to a dynamic data exchange (DDE) topic such as ‘System’ that is not
available.
Make sure to use correct DDE topic.

Running a macro that enters a function that returns #REF!

28