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CBSE Class 12 Board Exam 2017 : Accountancy

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SET-1 H$moS> Z . Series GBM Code No. amob Z . 67/1 narjmWu H$moS >H$mo C ma-nwp VH$m Ho$ _wI-n >na Ad ` {bIo & Roll No. Candidates must write the Code on the title page of the answer-book. H $n`m Om M H$a b| {H$ Bg Z-n _o _w{ V n > 24 h & Z-n _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Z ~a H$mo N>m C ma -nwp VH$m Ho$ _wI-n > na {bI| & H $n`m Om M H$a b| {H$ Bg Z-n _| 23 Z h & H $n`m Z H$m C ma {bIZm ew $ H$aZo go nhbo, Z H$m H $_m H$ Ad ` {bI| & Bg Z-n H$mo n T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h & Z-n H$m {dVaU nydm _| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>m Ho$db Z-n H$mo n T>|Jo Am a Bg Ad{Y Ho$ Xm amZ do C ma-nwp VH$m na H$moB C ma Zht {bI|Jo & Please check that this question paper contains 24 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. boImem ACCOUNTANCY {ZYm [aV g_` : 3 K Q>o A{YH$V_ A H$ : 80 Time allowed : 3 hours 67/1 Maximum Marks : 80 1 P.T.O. gm_m ` {ZX}e : (i) `h Z-n Xmo I S>m| _| {d^ $ h H$ Am a I & (ii) I S> H$ g^r Ho$ {bE A{Zdm` h & (iii) I S> I Ho$ Xmo {dH$ n h - {d mr` {ddaUm| H$m {d bofU VWm A{^H${b boIm H$Z & (iv) I S> I go Ho$db EH$ hr {dH$ n Ho$ Zm| Ho$ C ma {b{IE & (v) {H$gr Z Ho$ g^r I S>m| Ho$ C ma EH$ hr WmZ 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. I S> H$ (gmPoXmar \$_m] VWm H$ n{Z`m| Ho$ {bE boIm H$Z) PART A (Accounting for Partnership Firms and Companies) 1. O_m eof Ho$ AmYma na Wm`r n yOr ImVo VWm n[adV Zerb n yOr ImVo Ho$ ~rM A Va n > H$s{OE & 1 Distinguish between Fixed Capital Account and Fluctuating Capital Account on the basis of credit balance. 2. A VWm ~ EH$ \$_ _| gmPoXma Wo VWm bm^-hm{Z 5 : 3 Ho$ AZwnmV _| ~m Q>Vo Wo & C hm|Zo g H$mo EH$ Z`m gmPoXma ~Zm`m & A, ~ VWm g H$m Z`m bm^ gh^mOZ AZwnmV 3 : 2 : 3 Wm & A Zo AnZo bm^ Ho$ 1 ^mJ H$mo g Ho$ nj _| `mJ {X`m & ~ Ho$ `mJ H$s JUZm 5 H$s{OE & A and B were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted C as a new partner. The new profit sharing ratio 1 between A, B and C was 3 : 2 : 3. A surrendered th of his share in 5 favour of C. Calculate B s sacrifice. 67/1 2 1 3. nr VWm `y EH$ \$_ _| gmPoXma Wo VWm bm^-hm{Z ~am~a ~m Q>Vo Wo & CZH$s Wm`r n y{O`m H $_e: < 2,00,000 VWm < 3,00,000 Wt & gmPoXmar g boI _| n yOr na 12% {V df `mO H$m mdYmZ Wm & 31 _mM , 2016 H$mo g_m V h E df Ho$ {bE n yOr na `mO {XE {~Zm \$_ Ho$ bm^ H$m ~ Q>dmam H$a {X`m J`m & w{Q> Ho$ emoYZ Ho$ {bE Amd `H$ g_m`moOZ {dp Q> Xr{OE & 1 P and Q were partners in a firm sharing profits and losses equally. Their fixed capitals were < 2,00,000 and < 3,00,000 respectively. The partnership deed provided for interest on capital @ 12% per annum. For the year ended 31st March, 2016, the profits of the firm were distributed without providing interest on capital. Pass necessary adjustment entry to rectify the error. 4. E g {b{_Q>oS> Zo < 100 `oH$ Ho$ 500, 12% G$Un m| H$mo 5% Ho$ ~ >o na {ZJ _Z Ho$ {bE AmdoXZ Am_p V {H$E & BZ G$Un m| H$m emoYZ VrZ dfm] n MmV g__y ` na H$aZm Wm & 600 G$Un m| Ho$ {bE AmdoXZ m V h E & g^r AmdoXH$m| H$mo AmZwnm{VH$ AmYma na {ZJ _Z H$a {X`m J`m & `h _mZVo h E {H$ g^r am{e H$m ^wJVmZ AmdoXZ na H$aZm Wm, G$Un m| Ho$ {ZJ _Z Ho$ {bE Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 1 X Ltd. invited applications for issuing 500, 12% debentures of < 100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants. Pass necessary journal entries for the issue of debentures assuming that the whole amount was payable with application. 5. O S> {b{_Q>oS> Zo < 10 `oH$ Ho$ 1,000 g_Vm A em| H$m < 2 {V A e H$s W_ `mMZm H$m ^wJVmZ Z H$aZo na haU H$a {b`m & < 3 {V A e H$s Ap V_ `mMZm A^r _m Jr OmZr Wr & ~ >o H$s Cg A{YH$V_ am{e H$s JUZm H$s{OE {Og na BZ A em| H$m nwZ:{ZJ _Z {H$`m Om gH$Vm h & 1 Z Ltd. forfeited 1,000 equity shares of < 10 each for the non-payment of the first call of < 2 per share. The final call of < 3 per share was yet to be made. Calculate the maximum amount of discount at which these shares can be reissued. 67/1 3 P.T.O. 6. X Jm VWm Zaoe EH$ \$_ _| gmPoXma Wo & do nm M Z`o gX `m| H$mo \$_ _| doe XoZm MmhVo Wo & Zm~m{bJm| Ho$ A{V[a V `{ V`m| H$s Eogr {H$ ht Xmo lo{U`m| H$s gyMr ~ZmBE {O h| do \$_ _| doe Zht Xo gH$Vo & 1 Durga and Naresh were partners in a firm. They wanted to admit five more members in the firm. List any two categories of individuals other than minors who cannot be admitted by them. 7. ~r.nr.Eb. {b{_Q>oS> Zo < 100 `oH$ Ho$ 500, 9% G$Un m| H$mo, {O h| 6% Ho$ ~ >o na {ZJ {_V {H$`m J`m Wm, < 100 `oH$ Ho$ g_Vm A em|, {O h| < 25 {V A e Ho$ A{Ybm^ na {ZJ {_V {H$`m J`m Wm, _| n[ad{V V {H$`m & 9% G$Un m| Ho$ {ZJ _Z na ~ >o H$mo A^r VH$ An{b{IV Zht {H$`m J`m h & AnZr H$m` H$mar {Q> n{U`m| H$mo n Q> Xem Vo h E, 9% G$Un m| H$mo g_Vm A em| _| n[adV Z na Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 3 BPL Ltd. converted 500, 9% debentures of < 100 each issued at a discount of 6% into equity shares of < 100 each issued at a premium of < 25 per share. Discount on issue of 9% debentures has not yet been written off. Showing your working notes clearly, pass necessary journal entries for conversion of 9% debentures into equity shares. 8. H${d, a{d, Hw$_ma VWm Jw EH$ \$_ _| gmPoXma Wo VWm 3 : 2 : 2 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 1.2.2017 H$mo Jw Zo AdH$me J hU {H$`m VWm H${d, a{d Ed Hw$_ma Ho$ _ ` 3 : 1 : 1 Ho$ ZE bm^ AZwnmV H$m {ZU ` {H$`m J`m & Jw $ Ho$ AdH$me J hU H$aZo na \$_ H$s `m{V H$m _y `m H$Z < 3,60,000 {H$`m J`m & AnZr H$m` H$mar {Q> n{U`m| H$mo n Q> Xem Vo h E Jw $ Ho$ AdH$me J hU H$aZo na `m{V Ho$ boIm H$Z Ho$ {bE \$_ H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q> H$s{OE & Kavi, Ravi, Kumar and Guru were partners in a firm sharing profits in the ratio of 3 : 2 : 2 : 1. On 1.2.2017, Guru retired and the new profit sharing ratio decided between Kavi, Ravi and Kumar was 3 : 1 : 1. On Guru s retirement the goodwill of the firm was valued at < 3,60,000. Showing your working notes clearly, pass necessary journal entry in the books of the firm for the treatment of goodwill on Guru s retirement. 67/1 4 3 9. {Xem {b{_Q>oS> Zo {Zem {b{_Q>oS> go _erZar H$m H $` {H$`m VWm {Zem {b{_Q>oS> H$mo {Z Z H$ma go ^wJVmZ {H$`m : (i) < 10 `oH$ Ho$ 10,000, g_Vm A em| H$mo 10% Ho$ A{Ybm^ na {ZJ {_V H$aHo$ & (ii) < 100 `oH$ Ho$ 200, 9% G$Un m| H$mo 10% Ho$ ~ >o na {ZJ {_V H$aHo$ & (iii) eof EH$ _mh n MmV Xo` < 50,000 H$m {d{Z_` n drH$ma H$aHo$ & _erZar Ho$ H $` Ed {Zem {b{_Q>oS> H$mo BgHo$ ^wJVmZ Ho$ {bE {Xem {b{_Q>oS> H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 3 Disha Ltd. purchased machinery from Nisha Ltd. and paid to Nisha Ltd. as follows : (i) By issuing 10,000, equity shares of < 10 each at a premium of 10%. (ii) By issuing 200, 9% debentures of < 100 each at a discount of 10%. (iii) Balance by accepting a bill of exchange of < 50,000 payable after one month. Pass necessary journal entries in the books of Disha Ltd. for the purchase of machinery and making payment to Nisha Ltd. 10. JUoe {b{_Q>oS> < 10 `oH$ Ho$ g_Vm A em| _| {d^ V < 10,00,00,000 H$s A{YH $V n yOr Ho$ gmW n OrH $V h & H$ nZr H$s A{^X m VWm nyU X m ny Or < 6,00,00,000 Wr & WmZr` Zd`wdH$m| H$mo amo OJma XmZ H$aZo hoVw VWm A UmMb Xoe am ` Ho$ OZOmVr` jo m| Ho$ {dH$mg Ho$ {bE H$ nZr Zo dhm na EH$ Ob-{d wV g ` bJmZo H$m {ZU ` {H$`m & H$ nZr Zo B Q>mZJa, nmgrKmQ> VWm Vmdm J _| H$m eb {dH$mg Ho$ m| H$s WmnZm H$m ^r {ZU ` {b`m & AnZr ZdrZ {d mr` Amd `H$VmAm| H$mo nyam H$aZo Ho$ {bE H$ nZr Zo < 10 `oH$ Ho$ 1,00,000 g_Vm A em| VWm < 100 `oH$ Ho$ 1,00,000, 9% G$Un m| Ho$ {ZJ _Z H$m {ZU ` {b`m & G$Un m| H$m emoYZ nm M dfm] Ho$ n MmV g__y ` na H$aZm h & A em| VWm G$Un m| H$m {ZJ _Z nyU $n go A{^X m hmo J`m & 2,000 A em| H$m$ EH$ A eYmaH$ < 2 {V A e H$s Ap V_ `mMZm am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm & H$ nZr A{Y{Z`_, 2013 H$s gyMr III Ho$ mdYmZm| Ho$ AZwgma H$ nZr Ho$ p W{V {ddaU _| A e ny Or H$mo X{e V H$s{OE & Eogo {H$ ht Xmo _y `m| H$s nhMmZ ^r H$s{OE {O h| H$ nZr gm[aV H$aZm MmhVr h & 67/1 5 3 P.T.O. Ganesh Ltd. is registered with an authorised capital of < 10,00,00,000 divided into equity shares of < 10 each. Subscribed and fully paid up capital of the company was < 6,00,00,000. For providing employment to the local youth and for the development of the tribal areas of Arunachal Pradesh the company decided to set up a hydro power plant there. The company also decided to open skill development centres in Itanagar, Pasighat and Tawang. To meet its new financial requirements, the company decided to issue 1,00,000 equity shares of < 10 each and 1,00,000, 9% debentures of < 100 each. The debentures were redeemable after five years at par. The issue of shares and debentures was fully subscribed. A shareholder holding 2,000 shares failed to pay the final call of < 2 per share. Show the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also identify any two values that the company wishes to propagate. 11. _Yw VWm Zohm EH$ \$_ _| gmPoXma Wt VWm bm^-hm{Z 3 : 5 Ho$ AZwnmV _| ~m Q>Vr Wt & CZH$s Wm`r n y{O`m H $_e: < 4,00,000 VWm < 6,00,000 Wt & 1.1.2016 H$mo Q>rZm H$mo bm^ Ho$ 1 4 ^mJ Ho$ {bE EH$ Z`m gmPoXma ~Zm`m J`m & Q>rZm Zo bm^ Ho$ AnZo ^mJ H$mo Zohm go m V {H$`m & Q>rZm AnZr n yOr Ho$ {bE < 4,00,000 bmB {Ogo _Yw VWm Zohm H$s ny {O`m| H$s Vah Wm`r aIm OmZm Wm & Q>rZm Ho$ doe na \$_ H$s `m{V H$s VWm _Yw, Zohm Ed Q>rZm Ho$ Z`o bm^ AZwnmV H$s JUZm H$s{OE & `h _mZVo h E {H$ Q>rZm `m{V A{Ybm^ Ho$ AnZo ^mJ H$mo ZJX Zht bmB , Q>rZm Ho$ doe na `m{V Ho$ boIm H$Z Ho$ {bE Amd `H$ amo OZm_Mm {dp Q> ^r H$s{OE & Madhu and Neha were partners in a firm sharing profits and losses in the ratio of 3 : 5. Their fixed capitals were < 4,00,000 and < 6,00,000 1 respectively. On 1.1.2016, Tina was admitted as a new partner for th 4 share in the profits. Tina acquired her share of profit from Neha. Tina brought < 4,00,000 as her capital which was to be kept fixed like the capitals of Madhu and Neha. Calculate the goodwill of the firm on Tina s admission and the new profit sharing ratio of Madhu, Neha and Tina. Also, pass necessary journal entry for the treatment of goodwill on Tina s admission considering that Tina did not bring her share of goodwill premium in cash. 67/1 6 4 12. AemoH$, ~m~y VWm MoVZ EH$ \$_ _| gmPoXma Wo VWm 4 : 3 : 3 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & \$_ {V df 31 _mM H$mo AnZr nw VH|$ ~ X H$aVr h & 31 {Xg ~a, 2016 H$mo AemoH$ H$m Xohm V hmo J`m & gmPoXmar g boI _| mdYmZ Wm {H$ {H$gr gmPoXma H$s _ `w hmoZo na CgHo$ {Z nmXH$ H$mo {Z Z{b{IV Xo` hmoJm : (i) CgHo$ n yOr ImVo H$m eof & 1.4.2016 H$mo AemoH$ Ho$ n yOr ImVo _| < 90,000 H$m eof Wm & (ii) n yOr na 12% dm{f H$ `mO & (iii) CgH$s _ `w Ho$ df _|, \$_ Ho$ bm^m| _| go CgH$m ^mJ {OgH$m _y `m H$Z {nN>bo df Ho$ {dH $` na ew bm^ H$s Xa go {H$`m OmEJm, Omo {H$ 25% Wr & 31 {Xg ~a, 2016 VH$ \$_ H$m {dH $` < 4,00,000 Wm & (iv) \$_ H$s `m{V _| CgH$m ^mJ & AemoH$ H$s _ `w na \$_ H$s `m{V H$m _y `m H$Z < 4,50,000 {H$`m J`m & gmPoXmar g boI _| _ V gmPoXma Ho$ {Z nmXH$ H$mo Xo` am{e go {Z Z{b{IV H$Q>m {V`m| H$m mdYmZ ^r Wm : (i) CgH$s _ `w Ho$ df _| CgH$m AmhaU & 31.12.2016 VH$ AemoH$ H$m AmhaU < 15,000 Wm & (ii) AmhaU na 12% dm{f H$ `mO {OgH$s JUZm < 1,500 H$s JB & AemoH$ Ho$ {Z nmXH$ H$mo VwV H$aZo Ho$ {bE \$_ Ho$ boInmb Zo AemoH$ H$m n yOr ImVm V `ma {H$`m na Vw O Xr _| CgZo Bgo AYyam N>mo S> {X`m & \$_ Ho$ boInmb mam V `ma {H$`m J`m AemoH$ H$m n yOr ImVm ZrMo {X`m J`m h : AemoH$ H$m n yOr ImVm Zm_ O_m am{e am{e {V{W {ddaU {V{W {ddaU < < 2016 {Xg ~a {Xg ~a {Xg ~a 2016 31 .......... 31 .......... 15,000 .......... 31 .......... .......... A b 1 {Xg ~a 31 {Xg ~a 31 {Xg ~a 31 {Xg ~a 31 3,18,100 .......... 90,000 8,100 .......... 40,000 .......... 90,000 .......... 90,000 3,18,100 4 AemoH$ Ho$ n yOr ImVo H$mo nyam H$s{OE & 67/1 .......... 7 P.T.O. Ashok, Babu and Chetan were partners in a firm sharing profits in the ratio of 4 : 3 : 3. The firm closes its books on 31st March every year. On 31st December, 2016 Ashok died. The partnership deed provided that on the death of a partner his executors will be entitled for the following : (i) Balance in his capital account. On 1.4.2016, there was a balance of < 90,000 in Ashok s Capital Account. (ii) Interest on capital @ 12% per annum. (iii) His share in the profits of the firm in the year of his death will be calculated on the basis of rate of net profit on sales of the previous year, which was 25%. The sales of the firm till 31st December, 2016 were < 4,00,000. (iv) His share in the goodwill of the firm. The goodwill of the firm on Ashok s death was valued at < 4,50,000. The partnership deed also provided for the following deductions from the amount payable to the executor of the deceased partner : (i) His drawings in the year of his death. Ashok s drawings till 31.12.2016 were < 15,000. (ii) Interest on drawings @ 12% per annum which was calculated as < 1,500. The accountant of the firm prepared Ashok s Capital Account to be presented to the executor of Ashok but in a hurry he left it incomplete. Ashok s Capital Account as prepared by the firm s accountant is given below : Ashok s Capital Account Dr. Date 2016 Dec 31 Dec 31 Dec 31 Particulars .......... .......... .......... Amount < 15,000 .......... .......... Date Particulars 2016 April 1 Dec 31 Dec 31 Dec 31 Dec 31 .......... .......... .......... .......... .......... 3,18,100 < 90,000 8,100 40,000 90,000 90,000 3,18,100 You are required to complete Ashok s Capital Account. 67/1 Cr. Amount 8 13. A, ~, g VWm X EH$ \$_ _| gmPoXma Wo VWm Wo & 1.4.2016 H$mo 3 : 2 :3 :2 CZH$m p W{V {ddaU {Z Z H$ma go Wm 1.4.2016 H$mo n[ag n{ m`m < ny {O`m : A 2,00,000 ~ 2,50,000 g 2,50,000 X 3,10,000 : A, ~, g VWm X H$m p W{V {ddaU am{e Xo`VmE Ho$ AZwnmV _| bm^ ~m Q>Vo am{e < Wm`r n[ag n{ m`m 8,25,000 Mmby n[ag n{ m`m 3,00,000 10,10,000 {d{dY boZXma 90,000 H$m_Jma j{Vny{V g M` 25,000 11,25,000 Cn`w $ {V{W go gmPoXmam| Zo ^{d ` _| bm^ 4:3:2:1 11,25,000 Ho$ AZwnmV _| ~m Q>Zo H$m {ZU ` {H$`m & Bg C o ` Ho$ {bE \$_ H$s `m{V H$m _y `m H$Z < 2,70,000 {H$`m J`m & `h ^r `mZ _| aIm J`m {H$ : (i) H$m_Jma j{Vny{V g M` Ho$ {d Xmdo H$m AZw_mZ < 30,000 bJm`m OmEJm VWm Wm`r n[ag n{ m`m| na < 25,000 H$m _y ` mg bJm`m OmEJm & (ii) gmPoXmam| Ho$ Mmby ImVo ImobH$a ny {O`m| H$m g_m`moOZ gmPoXmam| Ho$ ZE bm^ AZwnmV _| {H$`m OmEJm & nwZ_ y `m H$Z ImVm, gmPoXmam| Ho$ n yOr ImVo VWm nwZJ {R>V \$_ H$m p W{V {ddaU V `ma H$s{OE & 67/1 9 6 P.T.O. A, B, C and D were partners in a firm sharing profits in the ratio of 3 : 2 : 3 : 2. On 1.4.2016, their Balance Sheet was as follows : Balance Sheet of A, B, C and D as on 1.4.2016 Amount Liabilities < Capitals : A 2,00,000 B 2,50,000 C 2,50,000 D 3,10,000 Assets Amount < Fixed Assets 8,25,000 Current Assets 3,00,000 10,10,000 Sundry Creditors 90,000 Workmen Compensation Reserve 25,000 11,25,000 11,25,000 From the above date the partners decided to share the future profits in the ratio of 4 : 3 : 2 : 1. For this purpose the goodwill of the firm was valued at < 2,70,000. It was also considered that : (i) The claim against Workmen Compensation Reserve has been estimated at < 30,000 and fixed assets will be depreciated by < 25,000. (ii) Adjust the capitals of the partners according to the new profit sharing ratio by opening Current Accounts of the partners. Prepare Revaluation Account, Partners Capital Account and the Balance Sheet of the reconstituted firm. 14. 67/1 1.4.2015 H$mo Oo.Ho$. {b{_Q>oS> Zo < 1,000 `oH$ Ho$ 8,000, 9% G$Un m| H$mo 6% Ho$ ~ >o na {ZJ {_V {H$`m & G$Un m| H$m VrZ dfm] Ho$ n MmV 5% Ho$ A{Ybm^ na emoYZ H$aZm h & H$ nZr AnZr nw VH|$ {V df 31 _mM H$mo ~ X H$aVr h & 9% G$Un m| na `mO {V df 30 {gV ~a VWm 31 _mM H$mo Xo` hmoVm h & moV na H$a H$Q>m Vr H$s Xa 10% h & 31.3.2016 H$mo g_m V h E df Ho$ {bE G$Un m| Ho$ {ZJ _Z VWm G$Un `mO H$s Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 10 6 On 1.4.2015, J.K. Ltd. issued 8,000, 9% debentures of < 1,000 each at a discount of 6%, redeemable at a premium of 5% after three years. The company closes its books on 31st March every year. Interest on 9% debentures is payable on 30th September and 31st March every year. The rate of tax deducted at source is 10%. Pass necessary journal entries for the issue of debentures and debenture interest for the year ended 31.3.2016. 15. EH$ gmPoXmar \$_ Ho$ {dKQ>Z Ho$ g_` {Z Z{b{IV Ad WmAm| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE : (i) {dKQ>Z `` < 800 Wo & (ii) {dKQ>Z `` < 800 H$m ^wJVmZ EH$ gmPoXma, ^w, Zo {H$`m & (iii) EH$ gmPoXma, JrVm, H$mo {dKQ>Z H$m` H$s XoIaoI Ho$ {bE {Z`w V {H$`m J`m, {OgHo$ {bE Cgo < 10,000 H$m nm[al{_H$ Xo` Wm & JrVm Zo {dKQ>Z `` dhZ H$aZo H$s gh_{V Xr & dm V{dH$ {dKQ>Z `` < 9,500 H$m ^wJVmZ JrVm Zo {H$`m & (iv) EH$ gmPoXma, OmZH$s, {dKQ>Z H$m` H$s XoIaoI Ho$ {bE < 5,000 Ho$ H$_reZ na gh_V hmo JB & OmZH$s {dKQ>Z ``m| H$mo dhZ H$aZo Ho$ {bE ^r gh_V Wr & dm V{dH$ {dKQ>Z `` < 5,500 H$m ^wJVmZ EH$ A ` gmPoXma, _mohZ Zo OmZH$s H$s Va\$ go {H$`m & (v) EH$ gmPoXma, H${dVm Zo < 9,000 Ho$ H$_reZ na {dKQ>Z {H $`m Ho$ XoIaoI H$s gh_{V Xr & dh {dKQ>Z ``m| H$mo dhZ H$aZo Ho$ {bE ^r gh_V hmo JB & H${dVm Zo < 9,000 Ho$ \$ZuMa H$mo AnZo H$_reZ Ho$ $n _| bo {b`m & \$ZuMa H$mo nhbo hr dgybr ImVo _| WmZm V[aV H$a {X`m J`m Wm & (vi) < 19,000 Ho$ EH$ XoZXma, a{d Zo AnZo G$U Ho$ nyU {ZnQ>mao hoVw {dKQ>Z `` Omo {H$ < 18,000 Wo, Ho$ ^wJVmZ H$s gh_{V Xr & 6 Pass necessary journal entries on the dissolution of a partnership firm in the following cases : (i) Dissolution expenses were < 800. (ii) Dissolution expenses < 800 were paid by Prabhu, a partner. (iii) Geeta, a partner, was appointed to look after the dissolution work, for which she was allowed a remuneration of < 10,000. Geeta agreed to bear the dissolution expenses. Actual dissolution expenses < 9,500 were paid by Geeta. (iv) Janki, a partner, agreed to look after the dissolution work for a commission of < 5,000. Janki agreed to bear the dissolution expenses. Actual dissolution expenses < 5,500 were paid by Mohan, another partner, on behalf of Janki. 67/1 11 P.T.O. (v) (vi) 16. A partner, Kavita, agreed to look after the dissolution process for a commission of < 9,000. She also agreed to bear the dissolution expenses. Kavita took over furniture of < 9,000 for her commission. Furniture had already been transferred to realisation account. A debtor, Ravinder, for < 19,000 agreed to pay the dissolution expenses which were < 18,000 in full settlement of his debt. gr VWm S>r EH$ \$_ _| gmPoXma h VWm 4 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo h & 31.3.2016 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31.3.2016 H$mo gr VWm S>r H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < {d{dY boZXma Sy>~V G$Um| Ho$ {bE mdYmZ AX m doVZ gm_m ` g M` n y{O`m : gr 1,20,000 S>r 80,000 40,000 4,000 6,000 10,000 >amoH$ S> XoZXma Q>m H$ \$ZuMa bm Q> VWm _erZar 24,000 36,000 40,000 80,000 80,000 2,00,000 2,60,000 2,60,000 1 4 Cn`w $ {V{W H$mo bm^ Ho$ ^mJ Ho$ {bE B H$mo {Z Z{b{IV eVm] na EH$ Z`m gmPoXma ~Zm`m J`m : (i) B AnZr n yOr Ho$ {bE < 1,00,000 VWm `m{V r{_`_ Ho$ AnZo ^mJ Ho$ {bE < 20,000 bmEJm, {OgHo$ AmYo ^mJ H$m gr VWm S>r mam AmhaU H$a {b`m OmEJm & (ii) < 2,000 Ho$ XoZXmam| H$mo Sy>~V G$Um| Ho$ $n _| An{b{IV {H$`m OmEJm VWm XoZXmam| na Sy>~V VWm g {X Y G$Um| Ho$ {bE 4% H$m mdYmZ {H$`m OmEJm & (iii) Q>m H$ H$mo < 2,000 go H$_ {H$`m OmEJm, \$ZuMa na < 4,000 H$m _y ` mg bJm`m OmEJm VWm bm Q> Ed _erZar na 10% H$m _y ` mg bJm`m OmEJm & (iv) < 7,000 Ho$ {Zdoe, Omo p W{V {ddaU _| Zht Xem E JE h , H$m boIm {H$`m OmEJm & (v) < 2,300 H$m EH$ AX m _a _V H$m {~b Wm {OgH$m boIm nw VH$m| _| {H$`m OmEJm & \$_ H$s nw VH$m| _| B Ho$ doe na Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & AWdm 67/1 12 8 g_ra, `mg_rZ VWm gbmoZr EH$ \$_ _| gmPoXma Wo VWm 4 : 3 : 3 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31.3.2016 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31.3.2016 H$mo Xo`VmE g_ra, `mg_rZ VWm gbmoZr H$m p W{V {ddaU am{e n[ag n{ m`m < boZXma gm_m ` g M` n y{O`m 1,10,000 >amoH$ S> 60,000 XoZXma 90,000 KQ>m : mdYmZ 10,000 : am{e < 80,000 80,000 g_ra 3,00,000 Q>m H$ 1,00,000 `mg_rZ 2,50,000 _erZar 3,00,000 gbmoZr 1,50,000 ^dZ 2,00,000 7,00,000 EH$ d 60,000 bm^-hm{Z ImVm 50,000 8,70,000 8,70,000 Cn`w $ {V{W H$mo g_ra Zo AdH$me J hU {H$`m VWm `h gh_{V h B {H$ (i) (ii) (iii) (iv) (v) : < 4,000 Ho$ XoZXmam| H$mo Sy>~V G$Um| Ho$ $n _| An{b{IV {H$`m OmEJm VWm XoZXmam| na Sy>~V Ed g {X Y G$Um| Ho$ {bE mdYmZ H$mo 5% na aIm OmEJm & < 20,000 Ho$ EH$ boZXma, {OgH$m boIm Zht {H$`m J`m Wm, H$m boIm {H$`m OmEJm & EH$ dm| H$mo nyU V: An{b{IV {H$`m OmEJm VWm Q>m H$, _erZar VWm ^dZ na 5% _y ` mg bJm`m OmEJm & `mg_rZ VWm gbmoZr ^{d ` _| bm^ 3 : 2 Ho$ AZwnmV _| ~m Q>|Jo & g_ra Ho$ AdH$me J hU H$aZo na \$_ H$s `m{V H$m _y `m H$Z < 5,40,000 {H$`m J`m & g_ra Ho$ AdH$me J hU H$aZo na \$_ H$s nw VH$m| _| Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 67/1 13 8 P.T.O. C and D are partners in a firm sharing profits in the ratio of 4 : 1. On 31.3.2016, their Balance Sheet was as follows : Balance Sheet of C and D as on 31.3.2016 Amount Liabilities < Sundry Creditors Assets 40,000 Cash Amount < 24,000 Provision for Bad Debts 4,000 Debtors 36,000 Outstanding Salary 6,000 Stock 40,000 General Reserve 10,000 Furniture Plant and Machinery Capitals : C 1,20,000 D 80,000 80,000 80,000 2,00,000 2,60,000 On the above date, E was admitted for 2,60,000 1 th share in the profits on the 4 following terms : (i) E will bring < 1,00,000 as his capital and < 20,000 for his share of goodwill premium, half of which will be withdrawn by C and D. (ii) Debtors < 2,000 will be written off as bad debts and a provision of 4% will be created on debtors for bad and doubtful debts. (iii) Stock will be reduced by < 2,000, furniture will be depreciated by < 4,000 and 10% depreciation will be charged on plant and machinery. (iv) Investments of < 7,000 not shown in the Balance Sheet will be taken into account. (v) There was an outstanding repairs bill of < 2,300 which will be recorded in the books. Pass necessary journal entries for the above transactions in the books of the firm on E s admission. OR 67/1 14 Sameer, Yasmin and Saloni were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. On 31.3.2016, their Balance Sheet was as follows : Balance Sheet of Sameer, Yasmin and Saloni as on 31.3.2016 Amount Liabilities < Creditors Assets 1,10,000 Cash General Reserve Capitals : 90,000 60,000 Debtors Less : Provision 10,000 Amount < 80,000 80,000 Sameer 3,00,000 Stock 1,00,000 Yasmin 2,50,000 Machinery 3,00,000 Saloni 1,50,000 7,00,000 Building 2,00,000 Patents 60,000 Profit and Loss Account 50,000 8,70,000 8,70,000 On the above date, Sameer retired and it was agreed that : (i) Debtors of < 4,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained. (ii) An unrecorded creditor of < 20,000 will be recorded. (iii) Patents will be completely written off and 5% depreciation will be charged on stock, machinery and building. (iv) Yasmin and Saloni will share future profits in the ratio of 3 : 2. (v) Goodwill of the firm on Sameer s retirement was valued at < 5,40,000. Pass necessary journal entries for the above transactions in the books of the firm on Sameer s retirement. 17. dr.E g.EZ. {b{_Q>oS> Zo < 10 `oH$ Ho$ 50,000 g_Vm A em| H$mo < 8 {V A e Ho$ A{Ybm^ na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & am{e H$m ^wJVmZ {Z Z H$ma go H$aZm Wm : AmdoXZ na : < 4 {V A e (< 2 Ho$ A{Ybm^ g{hV) Am~ Q>Z na : < 6 {V A e (< 3 Ho$ A{Ybm^ g{hV) W_ `mMZm na : < 5 {V A e (< 1 Ho$ A{Ybm^ g{hV) X gar VWm Ap V_ `mMZm na : eof am{e 67/1 15 P.T.O. {ZJ _Z nyU V: A{^X m hmo J`m & 200 A em| Ho$ EH$ A eYmaH$, Jmonmb Zo Am~ Q>Z am{e H$m ^wJVmZ Zht {H$`m VWm 400 A em| Ho$ A eYmaH$, _mYd Zo AnZr gmar A e am{e H$m ^wJVmZ Am~ Q>Z am{e Ho$ gmW H$a {X`m & Am~ Q>Z Ho$ Vwa V n MmV Jmonmb Ho$ A em| H$m haU H$a {b`m J`m & CgHo$ n MmV W_ `mMZm _m Jr JB & 100 A em| Ho$ EH$ A eYmaH$, H $ Um Zo W_ `mMZm am{e H$m ^wJVmZ Zht {H$`m VWm 300 A em| Ho$ EH$ A eYmaH$, {JaYa Zo W_ `mMZm am{e Ho$ gmW X gar `mMZm am{e H$m ^r ^wJVmZ H$a {X`m & W_ `mMZm am{e m V H$aZo Ho$ Vwa V n MmV H $ Um Ho$ A em| H$m haU H$a {b`m J`m & BgHo$ n MmV X gar VWm Ap V_ `mMZm am{e _m Jr JB VWm nyU V: m V hmo JB & haU {H$E JE g^r A em| H$mo < 9 {V A e nyU X m nwZ:{ZJ {_V H$a {X`m J`m & Cn`w $ boZXoZm| Ho$ {bE H$ nZr H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 8 AWdm Oo.Oo.Ho$. {b{_Q>oS> Zo < 10 `oH$ Ho$ 50,000 g_Vm A em| H$mo g__y ` na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & am{e H$m ^wJVmZ {Z Z H$ma go H$aZm Wm : AmdoXZ na : < 2 {V A e Am~ Q>Z na : < 4 {V A e W_ VWm Ap V_ `mMZm na : eof am{e {ZJ _Z VrZ JwZm A{Y-A{^X m h Am & 30% A em| Ho$ {bE AmdoXZm| H$mo a H$a {X`m J`m VWm AmdoXZ am{e dmng H$a Xr JB & eof AmdoXH$m| H$mo {Z Z H$ma go Am~ Q>Z {H$`m J`m : loUr AmdoXZ {H$E JE A e Am~ {Q>V {H$E JE A e I 80,000 40,000 II 25,000 10,000 {OZ AmdoXH$m| H$mo A em| H$m Am~ Q>Z {H$`m J`m CZHo$ mam ^wJVmZ H$s JB A{V[a V am{e H$m g_m`moOZ Am~ Q>Z na Xo` am{e _| H$a {b`m J`m & loUr I go g ~p YV EH$ A eYmaH$, XrnH$, {OgZo 1,000 A em| Ho$ {bE AmdoXZ {H$`m Wm, Zo Am~ Q>Z am{e H$m ^wJVmZ Zht {H$`m & 100 A em| Ho$ EH$ A eYmaH$, amOy Zo ^r Am~ Q>Z am{e H$m ^wJVmZ Zht {H$`m & amOy loUr II go g ~p YV Wm & Am~ Q>Z Ho$ Vwa V n MmV XrnH$ VWm amOy XmoZm| Ho$ A em| H$m haU H$a {b`m J`m & CgHo$ n MmV W_ VWm Ap V_ `mMZm _m Jr JB VWm nyar am{e m V hmo JB & XrnH$ VWm amOy Ho$ haU {H$E JE A em| H$mo < 11 {V A e nyU X m nwZ:{ZJ {_V H$a {X`m J`m & Cn`w $ boZXoZm o Ho$ {bE H$ nZr H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 67/1 16 8 VXN Ltd. invited applications for issuing 50,000 equity shares of < 10 each at a premium of < 8 per share. The amount was payable as follows : On Application : < 4 per share (including < 2 premium) On Allotment : < 6 per share (including < 3 premium) On First Call : < 5 per share (including < 1 premium) On Second and Final Call : Balance Amount The issue was fully subscribed. Gopal, a shareholder holding 200 shares, did not pay the allotment money and Madhav, a holder of 400 shares, paid his entire share money along with the allotment money. Gopal s shares were immediately forfeited after allotment. Afterwards, the first call was made. Krishna, a holder of 100 shares, failed to pay the first call money and Girdhar, a holder of 300 shares, paid the second call money also along with the first call. Krishna s shares were forfeited immediately after the first call. Second and final call was made afterwards and was duly received. All the forfeited shares were reissued at < 9 per share fully paid up. Pass necessary journal entries for the above transactions in the books of the company. OR JJK Ltd. invited applications for issuing 50,000 equity shares of < 10 each at par. The amount was payable as follows : On Application : < 2 per share On Allotment : < 4 per share On First and Final Call : Balance Amount The issue was oversubscribed three times. Applications for 30% shares were rejected and money refunded. Allotment was made to the remaining applicants as follows : Category I II No. of Shares Applied 80,000 25,000 No. of Shares Allotted 40,000 10,000 Excess money paid by the applicants who were allotted shares was adjusted towards the sums due on allotment. Deepak, a shareholder belonging to Category I, who had applied for 1,000 shares, failed to pay the allotment money. Raju, a shareholder holding 100 shares, also failed to pay the allotment money. Raju belonged to Category II. Shares of both Deepak and Raju were forfeited immediately after allotment. Afterwards, first and final call was made and was duly received. The forfeited shares of Deepak and Raju were reissued at < 11 per share fully paid up. Pass necessary journal entries for the above transactions in the books of the company. 67/1 17 P.T.O. I S> I ({d mr` {ddaUm| H$m {d bofU) PART B (Analysis of Financial Statements) 18. gm_m `V:, EH$ bKwH$mbrZ {Zdoe H$mo amoH$ S> Vw ` H$hbmZo Ho$ {bE Bgo BgHo$ A{YJ hU H$s {V{W go {H$g g_` Ad{Y _| n[an d hmoZm Mm{hE ? 1 Normally, what should be the maturity period for a short-term investment from the date of its acquisition to be qualified as cash equivalents ? 19. amoH$ S> dmh {ddaU V `ma H$aZo Ho$ mW{_H$ C o ` H$m C oI H$s{OE & 1 State the primary objective of preparing a cash flow statement. 20. {d mr` {ddaUm| H$m {d bofU H$m `m AW h C oI H$s{OE & ? Eogo {d bofU Ho$ {H$ ht Xmo C o `m| H$m 4 What is meant by Analysis of Financial Statements ? State any two objectives of such an analysis. 21. E_. {b{_Q>oS> H$m dm{_ d AZwnmV 0 80 : 1 h & H$maU XoVo h E C oI H$s{OE {H$ {Z Z{b{IV boZXoZm| go dm{_ d AZwnmV ~ T>oJm, KQ>oJm AWdm Bg_| H$moB n[adV Z Zht hmoJm : (i) ~ H$ go < 2,00,000 H$m nm M df n MmV Xo` G$U m V {H$`m & (ii) < 75,000 H$s _erZar H$m ZJX H $` {H$`m J`m & (iii) < 1,00,000 Ho$ 5% emoYZr` nydm {YH$mar (A{Y_mZr) A em| H$m emoYZ {H$`m & (iv) < 4,00,000 H$s _erZar Ho$ H $` hoVw {dH o$Vm H$mo g_Vm A em| H$m {ZJ _Z {H$`m J`m & The proprietary ratio of M. Ltd. is 0 80 : 1. State with reasons whether the following transactions will increase, decrease or not change the proprietary ratio : 67/1 (i) Obtained a loan from bank < 2,00,000 payable after five years. (ii) Purchased machinery for cash < 75,000. (iii) Redeemed 5% redeemable preference shares < 1,00,000. (iv) Issued equity shares to the vendors of machinery purchased for < 4,00,000. 18 4 22. {d mr` {ddaUm| H$mo boIm H$Z AdYmaUmAm|, {g m Vm|, {H $`mAm| VWm {d{YH$ n`m daU ^r, {Og_| `mdgm{`H$ g JR>Z Mm{bV hmoVo h , H$mo `mZ _| aI H$a V `ma {H$`m OmVm h & `o {ddaU Eogr gyMZm H$m moV hmoVo h {OZHo$ AmYma na H$ nZr H$s bm^ X mm Ed {d mr` p W{V Ho$ ~mao _| {Z H$f {ZH$bVo h Vm{H$ Cn`moJH$Vm gwJ_Vm go BZH$mo g_P gH|$ VWm BZH$m Cn`moJ AnZo Am{W H$ {ZU `m| _| AW nyU $n go H$a gH|$ & Cn`w $ H$WZ go Eogo {H$ ht Xmo _y `m| H$s nhMmZ H$s{OE {OZH$mo {H$gr H$ nZr H$mo AnZo {d mr` {ddaU V `ma H$aVo g_` `mZ _| aIZm Mm{hE & `h ^r C oI H$s{OE {H$ H$ nZr A{Y{Z`_, 2013 H$s AZwgyMr III Ho$ AZwgma EH$ H$ nZr Ho$ p W{V {ddaU _| {Z Z{b{IV _Xm| H$mo {H$Z-{H$Z _w ` erf H$m| VWm Cn-erf H$m| Ho$ A VJ V Xem `m OmEJm : (i) ny OrJV g M` (ii) nyd X m `mMZmE (iii) IwXam Am Oma (iv) ~ H$ A{Y{dH$f 4 Financial statements are prepared following the consistent accounting concepts, principles, procedures and also the legal environment in which the business organisations operate. These statements are the sources of information on the basis of which conclusions are drawn about the profitability and financial position of a company so that their users can easily understand and use them in their economic decisions in a meaningful way. From the above statement identify any two values that a company should observe while preparing its financial statements. Also, state under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013. 67/1 (i) Capital Reserve (ii) Calls-in-Advance (iii) Loose Tools (iv) Bank Overdraft 19 P.T.O. 23. 31.3.2016 H$mo Eg.Ama.Eg. {b{_Q>oS> Ho$ {Z Z{b{IV p W{V {ddaU VWm A{V[a V gyMZm go amoH$ S> dmh {ddaU V `ma H$s{OE : 31.3.2016 H$mo Eg.Ama.Eg. {b{_Q>oS> H$m p W{V {ddaU ZmoQ> g . {ddaU I g_Vm Ed Xo`VmE : 1. 1 1,25,000 50,000 2 2,25,000 1,75,000 (A) bKwH$mbrZ G$U 3 75,000 37,500 (~) bKwH$mbrZ mdYmZ 4 1,00,000 62,500 9,75,000 6,75,000 5 7,32,500 4,52,500 6 50,000 75,000 75,000 50,000 20,000 35,000 61,000 36,000 36,500 26,500 9,75,000 6,75,000 AMb Xo`VmE : Mmby Xo`VmE : Hw$b 1. < 3,50,000 XrK H$mbrZ G$U II < 4,50,000 (~) g M` Ed Am{Y ` 3. 31.3.2015 A eYmar$ {Z{Y`m : (A) A e ny Or 2. 31.3.2016 n[ag n{ m`m : AMb n[ag n{ m`m : (A) Wm`r n[ag n{ m`m : (i) (ii) _yV A_yV (~) AMb {Zdoe 2. Mmby n[ag n{ m`m : (A) Mmby {Zdoe 7 (~) Q>m H$ (_mbgyMr) (g) amoH$ S> VWm amoH$ S> Vw ` Hw$b 67/1 20 6 ImVm| Ho$ ZmoQ >g ZmoQ> {ddaU g . 1. g M` Ed Am{Y ` (Am{Y ` bm^-hm{Z {ddaU H$m eof) 2. 3. 4. 5. 6. 7. XrK H$mbrZ G$U 12% G$Un bKwH$mbrZ G$U ~ H$ A{Y{dH$f bKwH$mbrZ mdYmZ Vm{dV bm^m e _yV n[ag n{ m`m _erZar EH${ V (g {MV) _y ` mg A_yV n[ag n{ m`m `m{V Q>m H$ (_mbgyMr) Q>m H$ ({~H $s Ho$ {bE _mb) 31.3.2016 31.3.2015 < < 1,25,000 50,000 1,25,000 50,000 2,25,000 1,75,000 2,25,000 1,75,000 75,000 37,500 75,000 37,500 1,00,000 62,500 1,00,000 62,500 8,37,500 (1,05,000) 5,22,500 (70,000) 7,32,500 4,52,500 50,000 75,000 50,000 75,000 61,000 36,000 61,000 36,000 A{V[a $ gyMZm : 67/1 (i) < 50,000, 12% G$Un m| H$m {ZJ _Z 31.3.2016 H$mo {H$`m J`m & (ii) df _| EH$ _erZ, {OgH$s bmJV < 40,000 Wr VWm {Og na EH${ V (g {MV) _y ` mg < 20,000 Wm, H$mo < 5,000 H$s hm{Z na ~oMm J`m & 21 P.T.O. From the following Balance Sheet of SRS Ltd. and the additional information as on 31.3.2016, prepare a Cash Flow Statement : Balance Sheet of SRS Ltd. as on 31.3.2016 Note No. Particulars 31.3.2016 31.3.2015 < < I Equity and Liabilities : 1. Shareholder s Funds : (a) Share Capital 4,50,000 3,50,000 1 1,25,000 50,000 2 2,25,000 1,75,000 (a) Short-term Borrowings 3 75,000 37,500 (b) Short-term Provisions 4 1,00,000 62,500 9,75,000 6,75,000 (b) Reserves and Surplus 2. Non-Current Liabilities : Long-term Borrowings 3. Current Liabilities : Total II Assets : 1. Non-Current Assets : (a) Fixed Assets : (i) Tangible 5 7,32,500 4,52,500 (ii) Intangible 6 50,000 75,000 75,000 50,000 20,000 35,000 61,000 36,000 (c) Cash and Cash Equivalents 36,500 26,500 Total 9,75,000 6,75,000 (b) Non-Current Investments 2. Current Assets : (a) Current Investments (b) Inventories 67/1 7 22 Notes to Accounts Note No. 1. 2. 3. 4. 5. 6. 7. Particulars Reserves and Surplus (Surplus i.e., Balance in the Statement of Profit and Loss) Long-term Borrowings 12% Debentures Short-term Borrowings Bank Overdraft Short-term Provisions Proposed Dividend Tangible Assets Machinery Accumulated Depreciation Intangible Assets Goodwill Inventories Stock in Trade 31.3.2016 31.3.2015 < < 1,25,000 50,000 1,25,000 50,000 2,25,000 1,75,000 2,25,000 1,75,000 75,000 37,500 75,000 37,500 1,00,000 62,500 1,00,000 62,500 8,37,500 (1,05,000) 5,22,500 (70,000) 7,32,500 4,52,500 50,000 75,000 50,000 75,000 61,000 36,000 61,000 36,000 Additional Information : 67/1 (i) < 50,000, 12% debentures were issued on 31.3.2016. (ii) During the year a piece of machinery costing < 40,000, on which accumulated depreciation was < 20,000, was sold at a loss of < 5,000. 23 P.T.O. I S> I (A{^H${b boIm H$Z) PART B (Computerized Accounting) 18. Am H$ S>m-AmYm[aV- {VdoXZ H$m `m AW h ? 1 What is meant by a Database Report ? 19. doar H$m `m AW h 1 20. {d{e Q> boIm H$Z gm Q>do`a H$m M`Z H$aZo go nyd `mZ _| aIo OmZo dmbo bMrbonZ VWm WmnZ-bmJV H$mo g_PmBE & 4 ? What is meant by a Query ? Explain Flexibility and Cost of installation as considerations before opting for specific accounting software. 21. bm^ Ed hm{Z ImVm dJ Ho$ {H$ ht Mma CndJm] H$mo g_PmBE & 4 Explain any four sub-groups of the Account Group Profit and Loss . 22. 4 A{^H${b boIm H$Z gm Q>do`a Ho$ {V WmnZ _| {Z{hV MaUm| H$mo g_PmBE & Explain the steps involved in the installation of computerized accounting software. 23. H $S>reZb \$mo_ qQ>J H$m `m AW h ? BgHo$ bm^ g_PmBE & 6 What is meant by Conditional formatting ? Explain its benefits. 67/1 24 90,000

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