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CBSE Class 12 Board Exam 2020 : Accountancy (Series 5)

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SET 1 Series : HMJ/5 . Code No. . 67/5/1 - - Roll No. Candidates must write the Code on the title page of the answer-book. (I) - (I) 31 (II) - (II) - - NOTE Please check that this question paper contains 31 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. (III) Please check that this question paper contains 32 questions. (IV) Please write down the Serial Number of the question in the answer-book before attempting it. (V) 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. - 32 (IV) , (III) (V) - 15 - 10.15 10.15 10.30 - - ACCOUNTANCY {ZYm [aV g : 3 K Q>o A{YH$V A H$ Time allowed : 3 hours .67/5/1. 315A : 80 Maximum Marks : 80 1 P.T.O. : (i) - - - - 32 (ii) - (iii) - (iv) - (v) 1 13 23 29 - , 1 (vi) 14 30 -1 , 3 (vii) 15 18 31 -2 , 4 (viii) 19 20 32 -1 , 6 (ix) 21 22 -2 , 8 (x) (xi) - 2 , - 2 , - 1 - 2 (xii) , , - .67/5/1. 2 General Instructions : Read the following instructions very carefully and strictly follow them : (i) This question paper comprises two PARTS A and B. There are 32 questions in the question paper. All questions are compulsory. (ii) Part - A is compulsory for all candidates. (iii) Part - B has two options i.e. (i) Analysis of Financial Statement and (ii) Computerized Accounting. You have to attempt only one of the given OPTIONS. (iv) Heading of the option opted must be written on the Answer-Book before attempting the questions of that particular OPTION. (v) Question number 1 to 13 and 23 to 29 are very short answer type questions carrying 1 mark each. (vi) Question number 14 and 30 are short answer type-I questions carrying 3 marks each. (vii) Question number 15 to 18 and 31 are short answer type-II questions carrying 4 marks each. (viii) Question number 19 to 20 and 32 are also long answer type-I questions carrying 6 marks each. (ix) Question number 21 and 22 are long answer type-II questions carrying 8 marks each. (x) Answer should be brief and to the point. The answer of each part should be written at one place. (xi) There is no overall choice. However, an internal choice has been provided in 2 questions of three marks, 2 questions of four marks, 1 question of six marks and 2 questions of eight marks. You have to attempt only one of the choices in such questions. (xii) However, separate instructions are given with each section and question, wherever necessary. .67/5/1. 3 P.T.O. 1. ( , ) 1/5 ` 64,000 ` 46,000 (a) ` 22,000 2. (b) ` 27,500 (c) ` 55,000 ? (a) - (c) (d) ` 28,000 (d) (b) 3. ? 4. , 3 : 2 : 1 - 3 : 2 (a) 3 : 2 5. 7. 1 (b) 3 : 1 (c) 1 : 1 (d) 2 : 1 (b) ` 10,000 (c) ` 15,000 (d) ` 18,000 ________ ________ 1 1 1 ` 100 20,000 ` 40 , (a) ` 8,00,000 8. 1 ` 80,000 ` 40,000 ` 30,000 (a) ` 20,000 6. 1 (b) ` 12,00,000 (c) ` 20,00,000 (d) ` 20,000 1 _________ .67/5/1. 4 1 PART A (Accounting for Not-For-Profit-Organisations, Partnership Firms and Companies) Disha and Abha were partners in a firm. Farad was admitted as a new partner for 1/5th share in the profits of the firm. Farad brought proportionate capital. Capitals of Disha and Abha after all adjustments were ` 64,000 and ` 46,000 respectively. Capital brought by Farad was : (a) ` 22,000 (b) ` 27,500 (c) ` 55,000 (d) ` 28,000 1 Which of the following is not a capital receipt ? (a) Donations for tournament (b) Donations for building fund (c) Life membership fee (d) Entrance fees 1 3. What is meant by Authorised Capital ? 1 4. Saurabh, Shirin and Somesh are partners in a firm sharing profits and losses in the ratio of 3:2:1. Somesh retires and the new profit sharing ratio between Saurabh and Shirin is 3:2. The gaining ratio between Saurabh and Shirin will be : (a) 3:2 (b) 3:1 (c) 1:1 (d) 2:1 1 Mohit and Rohit were partners in a firm with capitals of ` 80,000 and ` 40,000 respectively. The firm earned a profit of ` 30,000 during the year. Mohit s share in the profit will be : (a) ` 20,000 (b) ` 10,000 (c) ` 15,000 (d) ` 18,000 1 In case of retirement of a partner, profit or loss on revaluation of assets and re-assessment of liabilities is distributed among _______ partners in _______ ratio. 1 Vanya Ltd. forfeited 20,000 equity shares of ` 100 each for non-payment of first and final call of ` 40 per share. The maximum amount of discount at which these shares can be re-issued will be : (a) ` 8,00,000 (b) ` 12,00,000 (c) ` 20,00,000 (d) ` 20,000 1 _________ means any offer of securities to a select group of persons by a company other than by way of public offer. 1 1. 2. 5. 6. 7. 8. .67/5/1. 5 P.T.O. 9. ` 100 11% 8,000 10% : (a) ` 8,00,000 10. 11. (b) ` 4,00,000 (c) ` 2,00,000 (d) ` 2,20,000 1 ? (a) (b) (c) (d) 1 ` 6,00,000 ` 5,20,000 (a) - (b) (c) - (d) 1 12. ________ (c) (d) (a) 13. 14. (b) _________ 1 1 3 : 1 1-4-2019 2016-17 2017-18 2018-19 ` 90,000 ` 1,30,000 ` 86,000 2018-19 ` 20,000 .67/5/1. 6 3 9. Shahi Ltd. decided to redeem its 8,000, 11% debentures of ` 100 each at a premium of 10%. The minimum amount transferred to debenture redemption reserve will be : (a) ` 8,00,000 (b) ` 4,00,000 (c) ` 2,00,000 (d) ` 2,20,000 1 10. Which of the following does not result into reconstitution of a firm ? (a) Dissolution of partnership firm. (b) Dissolution of partnership. (c) Change in profit-sharing-ratio of existing partners. (d) Death of partner. 1 11. Jaipur Club has a prize fund of ` 6,00,000. It incurs expenses on prizes amounting to ` 5,20,000. The expenses should be (a) debited to income and expenditure account. (b) presented on the asset side of the balance sheet. (c) debited to income and expenditure account and presented on the asset side of the balance sheet. (d) deducted from the prize fund on the liability side of the balance sheet. 1 12. No debenture redemption reserve is required for debentures issued by : (a) manufacturing companies (b) infrastructure companies (c) banking companies (d) trading companies 1 13. The portion of uncalled capital to be called only in the event of winding up of the company is called _________. 1 14. Kabir and Farid are partners in a firm sharing profits in the ratio of 3:1 on 1-4-2019 they admitted Manik into partnership for 1/4 th share in the profits of the firm. Manik brought his share of goodwill premium in cash. Goodwill of the firm was valued on the basis of 2 years purchase of last three years average profits. The profits of last three years were : 2016-17 ` 90,000 2017-18 ` 1,30,000 2018-19 ` 86,000 During the year 2018-19 there was a loss of ` 20,000 due to fire which was not accounted for while calculating the profit. Calculate the value of goodwill and pass the necessary journal entries for the treatment of goodwill. OR .67/5/1. 7 3 P.T.O. , 5 : 3 : 2 - 1 , 2019 2 : 2 : 1 ` 90,000 (i) ` 70,000 (ii) ` 40,000 (iii) ` 40,000 15. 3 31-3-2019 ? 1-4-2018 31-3-2019 (`) (`) 18,000 41,000 27,000 38,000 2018-19 ` 5,23,000 4 31 , 2019 (`) 16,000 ( 2017-18 ` 13,000 ) 93,000 35,000 15,000 40,000 85,000 6,000 .67/5/1. 8 4 Raka, Seema and Mahesh were partners sharing profits and losses in the ratio of 5:3:2. With effect from 1st April, 2019, they mutually agreed to share profits and losses in the ratio of 2:2:1. On that date, there was a workmen s compensation fund of ` 90,000 in the books of the firm. It was agreed that : (i) Goodwill of the firm be valued at ` 70,000. (ii) Claim for workmen s compensation amounted to ` 40,000. (iii) Profit on revaluation of assets and re-assessment of liabilities amounted to ` 40,000. Pass necessary journal entries for the above transactions in the books of the firm. 3 15. How will the following items be treated while preparing the Income and Expenditure Account and Balance Sheet of a Not-for-profit-organization for the year ended 31st March, 2019 ? As at 1-4-2018 As at 31-3-2019 (`) (`) Creditors for sports materials 18,000 41,000 Stock of sports materials 27,000 38,000 During 2018-19 the payment made to creditors for sports material was ` 5,23,000. 4 OR From the following particulars of Glorious Club, prepare Receipts and Payments Account for the year ended 31 st March, 2019. Particulars Amount (`) Opening balance of cash 16,000 Subscriptions (including ` 13,000 for 2017-18) 93,000 Investments purchased 35,000 Maintenance expenses 15,000 Locker rent 40,000 Life membership fees 85,000 Insurance premium .67/5/1. 6,000 9 4 P.T.O. 16. 2 : 3 - 31 , 2019 31 , 2019 (`) (`) 2,00,000 90,000 2,00,000 1,10,000 2,00,000 2,00,000 , 2019 ` 40,000 5% ` 1,000 ` 2,500 ` 10,000 31 17. , - 31-3-2019 : 31-3-2019 , (`) 1,50,000 1,00,000 75,000 (`) 3,25,000 2,40,000 60,000 35,000 50,000 30,000 30,000 3,85,000 3,85,000 30 , 2019 (a) (b) ` 25,000 .67/5/1. 10 4 16. Puneet and Akshara were partners in a firm sharing profits and losses in the ratio of 2:3. The following was the balance sheet of the firm as on 31st March, 2019. Balance sheet of Puneet and Akshara as on 31st March, 2019. Liabilities Capitals : Puneet Akshara 90,000 1,10,000 Amount (`) Assets Amount (`) Sundry Assets 2,00,000 2,00,000 2,00,000 2,00,000 The profits ` 40,000 for the year ended 31st March, 2019 were divided between the partners without allowing interest on capital @ 5% p.a. and commission to Akshara @ ` 1,000 per quarter. The drawings of the partners during the year were : Puneet ` 2,500 per month. Akshara ` 10,000 per quarter. Showing your workings clearly, pass necessary adjustment entry in the books of the firm. 4 17. Keith, Bina and Veena were partners in a firm sharing profits and losses equally. Their balance sheet as on 31-3-2019 was as follows : Balance Sheet of Keith, Bina and Veena as on 31-3-2019 Liabilities Capitals : Keith 1,50,000 Bina 1,00,000 Veena 75,000 General Reserve Sundry creditors Amount (`) Assets Amount (`) Plant and Machinery Stock Sundry debtors 3,25,000 Cash at bank 30,000 30,000 2,40,000 60,000 35,000 50,000 3,85,000 3,85,000 Veena died on 30th June, 2019. According to the partnership deed, the executors of the deceased partner were entitled to : (a) Balance in capital account (b) Salary till the date of death @ ` 25,000 per annum. .67/5/1. 11 P.T.O. (c) (d) (e) 2016-17, 2017-18 2018-19 ` 1,20,000, ` 90,000 ` 1,50,000 1 , 2019 ` 15,000 4 , 2019 , 31 , 2019 18. 31 31 , 2019 (`) (`) 50,000 45,000 32,000 13,400 : 2017-18 1,22,000 1,600 2018-19 60,000 2019-20 5,000 66,600 5,800 1,67,400 1,67,400 (i) 1-10-2018 10% (ii) 2018-2019 ` 2,000 (iii) ` 6,000 .67/5/1. 4 12 (c) Share of goodwill calculated on the basis of twice the average profits of past three years. (d) Share of profit from the closure of the last accounting year till the date of death on the basis of average of three completed years profits before death. (e) Profits for 2016-17, 2017-18 and 2018-19 were ` 1,20,000, ` 90,000 and ` 1,50,000 respectively. Veena withdrew ` 15,000 on 1st June, 2019 for paying her daughter s school fees. Prepare Veena s capital account to be rendered to her executors. 4 18. From the given Receipts and Payments Account and additional information of Shine Club for the year ended 31 st March, 2019, prepare Income and Expenditure Account for the year ended 31 st March, 2019. Receipts and Payments Account of Shine Club for the year ended 31st March, 2019 Receipts Amount (`) Payments To balance b/d 50,000 By Furniture & equipments To donations 45,000 By Salaries To subscriptions : By balance c/d 2017-18 1,600 2018-19 60,000 2019-20 5,000 66,600 To interest received 5,800 1,67,400 Amount (`) 1,22,000 32,000 13,400 1,67,400 Additional Information : (i) Furniture and equipments were purchased on 1-10-2018. Depreciation @ 10% p.a. was to be provided on furniture and equipments. (ii) Subscriptions in arrears for the year 2018-19 were ` 2,000 (iii) Outstanding salary ` 6,000. .67/5/1. 4 13 P.T.O. 19. , 5 : 3 : 2 - 31 , 2019 ( ) , (a) ` 45,000 (b) , ` 67,000 ` 35,000 (c) ` 18,000 (d) ` 85,000 ` 72,000 (e) ` 6,000 , (f) ` 40,000 20. (a) 6 1 , 2015 ` 100 4,000, 9% 5% 31 , 2019 8% , 2013 (b) ` 18,00,000 ` 3,00,000 ` 100 9% 20% 3+3=6 .67/5/1. 14 19. Niyati, Kartik and Ratik were partners in a firm sharing profits and losses in the ratio of 5:3:2. The firm was dissolved on 31 st March, 2019 by the order of the court. After transfer of assets (other than cash) and external liabilities to Realization Account, the following transactions took place : (a) An unrecorded liability of the firm of ` 45,000 was paid by Niyati. (b) Creditors, to whom ` 67,000 were due to be paid, accepted furniture at ` 35,000 and the balance was paid to them in cash. (c) Kartik had given a loan of ` 18,000 to the firm which was paid to him. (d) Stock worth ` 85,000 was taken over by Ratik at ` 72,000. (e) Expenses on dissolution amounted to ` 6,000 and were paid by Kartik. (f) Loss on dissolution amounted to ` 40,000. Pass the necessary journal entries for the above transactions in the books of the firm. 20. (a) 6 On 1st April, 2015, Mayfair Ltd. issued 4,000 9% debentures of ` 100 each at a discount of 5% redeemable at a premium of 8%. The debentures were redeemable on 31st March, 2019. The company created the necessary minimum amount of debenture redemption reserve and purchased the required amount of debenture redemption investments as per the provisions of Companies Act, 2013. Pass the necessary journal entries for redemption of debentures. (b) Hero Ltd. purchased plant and machinery for ` 18,00,000 from Pearl Machines Ltd. payable ` 3,00,000 by drawing a promissory note and the balance by issue of 9% debentures of ` 100 each at a premium of 20%. Pass the necessary journal entries in the books of Hero Ltd. for the above transactions. 3+3=6 OR .67/5/1. 15 P.T.O. (a) ` 100 15,000, 11% ` 50 25,000 5,000 (b) , 2018 ` 100 40,000, 9% 10% 10% 1 30 31 10% , 31 , 2019 3+3=6 21. ` 10 2,00,000 ` 2 ` 5 ( ) ` 3 10,000 2,50,000 , , 7200 ` 48,000 .67/5/1. 16 8 (a) BGP Ltd. invited applications for issuing 15,000, 11% debentures of ` 100 each at a premium of ` 50 per debenture. The full amount was payable on application. Applications were received for 25,000 debentures. Applications for 5,000 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants on pro-rata basis. Pass the necessary journal entries for the above transactions in the books of BGP Ltd. (b) Agam Ltd. issued 40,000 9% debentures of ` 100 each on April 1, 2018 at a discount of 10%, redeemable at a premium of 10%. Assuming that the interest was paid half yearly on September 30 and March 31 and the tax deducted at source was 10%, give journal entries relating to debenture interest for the half year ended March 31, 2019. 3+3=6 21. Premier Tools Ltd. invited applications for issuing 2,00,000 equity shares of ` 10 each at a premium of ` 2 per share. The amount was payable as follows : On application - ` 5 per share (including premium) On allotment - ` 3 per share On first & final call Balance Applications were received for 2,50,000 shares. Applications for 10,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Over payments received on application were adjusted towards sums due on allotment. All calls were made and duly received except allotment and first and final call from Naveen who applied for 7,200 shares. His shares were forfeited. Half of the forfeited shares were reissued for ` 48,000 as fully paid. Pass the necessary journal entries for the above transactions in the books of Premier Tools Ltd. Open calls-in-arrears account wherever required. 8 OR .67/5/1. 17 P.T.O. ` 10 3,00,000 ` 3 ` 7 (` 3 ) 4,00,000 (i) 80,000 80,000 (ii) 40,000 (iii) (i) 4,000 (iii) 4,400 , ` 7 22. 8 3 : 1 - 31 , 2019 31 , 2019 (`) 1,10,000 (`) 60,000 40,000 40,000 50,000 45,000 4,00,000 2,00,000 1,55,000 5,00,000 6,00,000 8,00,000 .67/5/1. 18 8,00,000 Concept Stationary Ltd. invited applications for issuing 3,00,000 shares of ` 10 each at a premium of ` 3 per share. The amounts were payable as follows : On application and allotment ` 7 per share. On first & final call balance (including premium of ` 3) Applications were received for 4,00,000 shares & allotment was made as follows : (i) To applicants for 80,000 shares 80,000 shares. (ii) To applicants for 40,000 shares nil (iii) Balance of the applicants were allotted shares on pro-rata basis. Excess money received with applications was adjusted towards sums due on first and final call. Amit, who belonged to category (i) and was allotted 4,000 shares and Veni, who belonged to category (iii) and was allotted 4,400 shares failed to pay the first and final call money. Their shares were forfeited. The forfeited shares were re-issued at ` 7 per share fully paid-up. Pass necessary journal entries for the above transactions in the books of the company. 8 22. Achla and Bobby were partners in a firm sharing profits and losses in the ratio of 3:1. On 31st March, 2019, their balance sheet was as follows : Balance Sheet of Achla and Bobby as on 31st March, 2019 Liabilities Creditors Amount (`) 1,10,000 Assets Amount (`) Cash at bank 60,000 General Reserve 40,000 Debtors 40,000 Workmen s compensation reserve 50,000 Stock 45,000 Capitals : Achla 4,00,000 Bobby 2,00,000 1,55,000 Land & Building 5,00,000 6,00,000 8,00,000 .67/5/1. Furniture 19 8,00,000 P.T.O. 1 , 2019 1/5 (a) ` 1,00,000 (b) ` 4,00,000 (c) ` 80,000 (d) ` 35,000 (e) 20% , 3 : 5 : 2 - 31 , 2019 31 , 2019 , (`) (`) 60,000 40,000 3,00,000 2,00,000 1,00,000 6,00,000 7,00,000 50,000 80,000 40,000 30,000 5,00,000 7,00,000 (a) ` 3,00,000 (b) 20% (c) ` 1,00,000 (d) ` 34,000 (e) ` 5,00,000 , .67/5/1. 8 20 8 On 1st April, 2019, they admitted Vihaan as a new partner for 1/5 th share in the profits of the firm on the following terms : (a) Vihaan brought ` 1,00,000 as his capital and the capitals of Achla and Bobby were to be adjusted on the basis of Vihaan s capital ; any surplus or deficiency was to be adjusted by opening current accounts. (b) Goodwill of the firm was valued at ` 4,00,000. Vihaan brought the necessary amount in cash for his share of goodwill premium, half of which was withdrawn by the old partners. (c) Liability on account of workmen s compensation amounted to ` 80,000. (d) Achla took over stock at ` 35,000. (e) Land and building was to be appreciated by 20%. Prepare Revaluation Account, Partner s Capital Accounts and the Balance Sheet of the reconstituted firm on Vihaan s admission. OR Gita, Radha and Garv were partners in a firm sharing profits and losses in the ratio of 3:5:2. On 31st March, 2019, their balance sheet was as follows : Balance Sheet of Gita, Radha & Garv as on 31st March, 2019 Amount Amount Liabilities Assets (`) (`) Sundry Creditors 60,000 Cash 50,000 General Reserve 40,000 Stock 80,000 Capitals : Debtors 40,000 Gita 3,00,000 Investments 30,000 Radha 2,00,000 Buildings 5,00,000 Garv 1,00,000 6,00,000 7,00,000 7,00,000 Radha retired on the above date and it was agreed that : (a) Goodwill of the firm be valued at ` 3,00,000 and Radha s share be adjusted through the capital accounts of Gita and Garv. (b) Stock was to be appreciated by 20%. (c) Buildings were found undervalued by ` 1,00,000. (d) Investments were sold for ` 34,000. (e) Capital of the new firm was fixed at ` 5,00,000 which will be in the new profit sharing ratio of the partners ; the necessary adjustments for this purpose were to be made by opening current accounts of the partners. Prepare Revaluation Account, Partner s Capital Accounts and the Balance Sheet of the reconstituted firm on Radha s retirement. .67/5/1. 21 8 8 P.T.O. I ( ) 23. 1 24. : ` 10,00,000 10% 1 , 1 ( ) ? (a) (b) (c) - (d) 1 ? (a) (b) (c) (d) 1 , 2013 -III, -I ? (a) (b) (c) (d) 1 _________ 1 25. 26. 27. 28. 29. 30. 1.5 : 1 2 : 1 ( ) 6 ` 2,00,000 25% .67/5/1. 22 3 PART B Option I (Analysis of Financial Statements) 23. State the primary objective of preparing cash flow statement. 1 24. From the following information, calculate the amount of cash flow from investing activities. Acquired machinery for ` 10,00,000, paying 10% immediately in cash and accepting a draft for the balance in favour of the vendor, payable after three months. 1 25. State giving reason, whether issue of shares for consideration other than cash will result into inflow, outflow or no flow of cash. 1 26. Which of the following is not a tool of financial analysis ? (a) Comparative income statement (b) Comparative position statement (c) Statement of profit and loss (d) Cash flow statement 1 27. Which of the following is a limitation of financial analysis ? (a) It is just a study of reports of the company. (b) It judges the ability of the firm to repay its debts. (c) It identifies the reasons for change in financial position. (d) It ascertains the relative importance of different components of the financial position of the firm. 1 28. As per Schedule III, Part I of the Companies Act, 2013 calls-in-arrears will be presented under which of the following head/sub-head, in the Balance Sheet of a company ? (a) Reserves and Surplus (b) Current Liabilities (c) Contingent Liabilities (d) Shareholders Funds 1 29. Interest accrued but not due on loans is shown in the companies balance sheet under the sub head _________. 1 30. A company had a liquid ratio of 1.5:1 and a current ratio of 2:1. Its inventory turnover ratio was 6 times. It had total current assets of ` 2,00,000. Find out revenue from operations if the goods are sold at 25% profit on cost. OR .67/5/1. 23 3 P.T.O. 8 ` 4,80,000 ` 2,00,000 20% 31. - . 2017-18 2016-17 ` 16,00,000 ` 8,00,000 ( %) 60% 50% ` 80,000 ` 40,000 40% 30% 31 , 2019 , 31 , 2019 31-3-19 (`) 31-3-18 (`) . (1) (a) 21,00,000 20,00,000 (b) 2,30,000 2,00,000 (2) 5,60,000 2,00,000 (3) 2,80,000 1,00,000 31,70,000 25,00,000 (1) (i) 21,00,000 20,00,000 (ii) 3,00,000 2,00,000 (2) (a) ( ) 5,60,000 2,00,000 (b) 2,10,000 1,00,000 31,70,000 25,00,000 .67/5/1. 24 3 4 4 Calculate the amount of opening trade receivables and closing trade receivables from the following information : Trade receivables turnover ratio 8 times Cost of revenue from operations ` 4,80,000 The amount of credit revenue from operations is ` 2,00,000 more than cash revenue from operations. Gross profit ratio is 20%. Opening trade receivables are 1/4th of Closing trade receivables. 31. Prepare common size statement of profit and loss from the following information : Note Particulars 2017-18 2016-17 No. Revenue from operations ` 16,00,000 ` 8,00,000 Cost of material consumed (% of revenue from operations) 60% 50% Operating expenses ` 80,000 ` 40,000 Income tax rate 40% 30% OR From the following Balance Sheets of Vinayak Ltd. as at 31 st March, 2019, prepare a comparative Balance Sheet. Vinayak Ltd. Balance Sheet as at 31st March, 2019 Note 31-3-19 31-3-18 Particulars No. (`) (`) Equity and Liabilities (1) Shareholders Funds (a) Share capital 21,00,000 20,00,000 (b) Reserves and Surplus 2,30,000 2,00,000 (2) Non-current liabilities Long term borrowing 5,60,000 2,00,000 (3) Current liabilities Trade payables 2,80,000 1,00,000 Total 31,70,000 25,00,000 Assets (1) Non-current Assets Fixed Assets (i) Tangible assets 21,00,000 20,00,000 (ii) Intangible assets 3,00,000 2,00,000 (2) Current Assets (a) Inventories 5,60,000 2,00,000 (b) cash and cash equivalents 2,10,000 1,00,000 Total 31,70,000 25,00,000 .67/5/1. 25 3 4 4 P.T.O. 32. 31-03-2019 ` 18,000 31-03-19 31 , 2019 . I. 31-3-19 31-3-18 (`) (`) 18,00,000 10,00,000 1 50,000 40,000 2 1,00,000 4,00,000 3 2,50,000 3,60,000 (1) (2) (a) (b) (3) II. 22,00,000 18,00,000 (1) (a) (2) (i) 4 14,00,000 10,00,000 (ii) 5 1,80,000 70,000 30,000 1,90,000 (a) (b) 2,90,000 3,10,000 (c) 3,00,000 2,30,000 .67/5/1. 22,00,000 18,00,000 26 32. Cash flow from operating activities of Starline Ltd. for the year ended 31.03.2019 was ` 18,000. The Balance Sheet along with notes to accounts of Starline Ltd. as at 31-03-19 is given below : Starline limited Balance Sheet as at 31st March, 2019 Note Particulars I. Equity and Liabilities : (1) Shareholders Funds (2) (a) Share capital (b) Reserves and Surplus 31-3-18 (`) 18,00,000 10,00,000 1 50,000 40,000 2 1,00,000 4,00,000 3 2,50,000 3,60,000 22,00,000 18,00,000 Non-current liabilities Long term borrowing (3) 31-3-19 (`) No. Current liabilities Short term provisions Total II. Assets : (1) Non-current Assets Fixed Assets (2) (i) Tangible assets 4 14,00,000 10,00,000 (ii) Intangible assets 5 1,80,000 70,000 30,000 1,90,000 Current Assets (a) Current Investments (b) Trade Receivables 2,90,000 3,10,000 (c) Cash and cash equivalents 3,00,000 2,30,000 22,00,000 18,00,000 Total .67/5/1. 27 P.T.O. . 1. ( - ) 2. 8% 3. 4. 5. 31-3-2019 (`) : - : 31-3-2018 (`) 50,000 50,000 40,000 40,000 1,00,000 1,00,000 4,00,000 4,00,000 2,50,000 2,50,000 3,60,000 3,60,000 15,20,000 (1,20,000) 14,00,000 10,90,000 (90,000) 10,00,000 1,80,000 1,80,000 70,000 70,000 (a) , ` 40,000 ( ` 12,000 ), ` 6,000 (b) 8% 1 , 2018 6 II ( ) 23. 24. 25. _________ (a) (b) (c) (d) 1 , (i) _________, (ii) _________ 1 (a) (b) 1 .67/5/1. 28 (c) (d) Notes to Accounts Particulars 1. Reserves & Surplus Surplus (balance in statement of profit & loss) 31-3-19 (`) 50,000 50,000 2. Long term borrowing 8% debentures 3. Short term provisions Provision for tax 4. Tangible Assets Plant & Machinery Less Accumulated depreciation 5. Intangible Assets Goodwill 31-3-18 (`) 40,000 40,000 1,00,000 1,00,000 4,00,000 4,00,000 2,50,000 2,50,000 3,60,000 3,60,000 15,20,000 (1,20,000) 14,00,000 10,90,000 (90,000) 10,00,000 1,80,000 1,80,000 70,000 70,000 You are given the following additional information : (a) A machinery of the book value of ` 40,000 (depreciation provided thereon ` 12,000) was sold at a loss of ` 6,000. (b) 8% debentures were redeemed on 1st July 2018. Prepare Cash Flow Statement. 6 PART B Option II (Computerized Accounting) 23. _________ is a logical action to perform a task. (a) Data (b) Hardware (c) System (d) Procedure 1 24. Name of account, (i) _________, (ii) _________ and amount are the four forms of data elements of a transaction in computerized accounting. 1 25. Cell address refers to (a) location of cell (b) group of cells 1 .67/5/1. 29 (c) cell reference (d) All of these P.T.O. 26. 27. 28. 29. 30. 31. 32. (a) (b) (c) (d) 1 (i) _________ (ii) _________ 1 (i) _________ (ii) _________ 1 (a) (b) (c) (d) 1 ? , ? . ` 5,000 ( ) 2% 1500 (a) 700 ` 7,00,000 (b) 1500 ` 15,00,000 (c) 2,200 ` 22,00,000 ____________ .67/5/1. 30 3 3 4 4 6 26. To expect a well formatted printable data from access database, we use (a) Table (b) Form (c) Report (d) Query 1 27. A spreadsheet is used (i) _________ calculate and compare (ii) _________ or financial data. 1 28. A sequential code helps either (i) in _________ or (ii) _________ a relevant document. 1 29. The interactive link between the user and data base oriented software through which the user communicates is known as (a) Front end interface (b) Back end interface (c) Data processing (d) Reporting system 1 30. State any three requirements which should be considered before making an investment to choose between Desktop Database or Server Database . OR Explain any three types of vouchers used for facilitating entry in Tally Software . 31. Write and explain the formulae to calculate basic pay earned and total earnings. OR What is meant by a Form ? How is split form different from simple form ? 32. Star Ltd. has a sales linked bonus policy to motivate its sales personnel. Any employee achieving target sales for the month is paid ` 5,000 as bonus. There is an additional incentive of 2% of the amount of sales exceeding the target sales (i.e., the difference in target sales and actual sales). The target sale for current month was 1500 units. Calculate the bonus for employees mentioned below and also give the excel formula for the same. (a) Amit sold 700 units for ` 7,00,000 (b) Namit sold 1500 units for ` 15,00,000 (c) Jatin sold 2,200 units for ` 22,00,000 ____________ .67/5/1. 31 3 3 4 4 6 P.T.O. .67/5/1. 32

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