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CBSE Class 12 Board Exam 2020 : Accountancy (Series 3)

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H$moS> Z . Code No. 67/3/1 narjmWu H$moS >H$mo C ma-nwp VH$m Ho$ _wI-n >na Ad ` {bIo & amob Z . Roll No. Candidates must write the Code on the title page of the answer-book. (I) ZmoQ> H $n`m Om M H$a b| {H$ Bg Z-n _o _w{ V n > 39 h & (II) 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| & (III) H $n`m Om M H$a b| {H$ Bg Z-n _| >32 Z h & H $n`m Z H$m C ma {bIZm ew $ H$aZo go nhbo, C ma-nwp VH$m _| 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 & (IV) (V) NOTE (I) Please check that this question paper contains 39 printed pages. (II) 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. boImem ACCOUNTANCY {ZYm [aV g_` : 3 K Q>o A{YH$V_ A H$ : 80 Time allowed : 3 hours .67/3/1 Maximum Marks : 80 1 P.T.O. gm_m ` {ZX}e : {Z Z{b{IV {ZX}em| H$mo ~h V gmdYmZr go n{ T>E Am a CZH$m nyar Vah go nmbZ H$s{OE : (i) Z-n Xmo ^mJm| _ | {d^m{OV {H$`m J`m h ^mJ H$ Ed ^mJ I & Bg Z-n _| 32 Z h & g^r Z A{Zdm` h & (ii) ^mJ H$ g^r narjm{W `m| Ho$ {bE A{Zdm` h & (iii) ^mJ I _| Xmo {dH$ n {XE JE h (1) {d mr` {ddaUm| H$m {d bofU VWm (2) A{^H${b boIm H$Z & Bg_| {XE JE {dH$ nm| _| go Amn {H$gr EH$ {dH$ n Ho$ Zm| Ho$ C ma {b{IE & (iv) M`{ZV {dH$ n Ho$ Zm| H$m C ma Ama ^ H$aZo go nyd C ma-nwp VH$m na M`Z {H$E JE {dH$ n H$m erf H$ Ad ` {b{IE & (v) Z g `m 1 go 13 VWm 23 go 29 VH$ A{V bKw-C mar` H$ma Ho$ Z h , `oH$ Z 1 A H$ H$m h & (vi) Z g `m 14 Am a 30 VH$ bKw-C mar` H$ma I Ho$ Z h , `oH$ Z 3 A H$m| H$m h & (vii) Z g `m 15 go 18 VWm 31 bKw-C mar` H$ma II Ho$ Z h , `oH$ Z 4 A H$m| H$m h & (viii) Z g `m 19, 20 VWm 32 XrK -C mar` H$ma I Ho$ Z h , `oH$ Z 6 A H$m| H$m h & (ix) Z g `m 21 Am a 22 XrK -C mar` H$ma II Ho$ Z h , `oH$ Z 8 A H$m| H$m h & (x) C ma g {j VWm q~X dma hmoZo Mm{hE & {H$gr ^mJ> Ho$ g^r Zm| Ho$ C ma EH$ hr WmZ na {bIo OmZo Mm{hE & (xi) H$moB g_J {dH$ n Zht h & hmbm {H$ VrZ-VrZ A H$m| dmbo 2 Zm| _ o, Mma-Mma$ A H$m| dmbo 2 Zm| _ o, N>:-N>: A H$m| dmbo 1 Z _ o Am a AmR>-AmR> A H$m| dmbo 2 Zm| _ o Am V[aH$ {dH$ n {X`m J`m h & AmnH$mo Eogo Zm| _| Ho$db EH$ hr {dH$ n H$m C ma XoZm h & (xii) BgHo$ A{V[a $, Amd `H$VmZwgma, `oH$ ^mJ> Am a Z Ho$ gmW AbJ-AbJ `Wmo{MV {ZX}e {XE JE h & ^mJ> H$ (Abm^H$mar g JR>Zm|, gmPoXmar \$_m] VWm H$ n{Z`m| Ho$ {bE boIm H$Z) 1. nwZrV VWm XrnH$ gmPoXmar _| Wo VWm 2 : 1 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & C hm|Zo _m `m H$mo EH$ ZE gmPoXma Ho$ $n _| doe {X`m & _m `m `m{V r{_`_ Ho$ AnZo ^mJ Ho$ {bE < 1,00,000 bmB , {Ogo nyU $n go nwZrV Ho$ ny Or ImVo _| Ho ${S>Q> H$a {X`m J`m & doe H$s {V{W H$mo \$_ H$s `m{V H$m _y `m H$Z < 3,00,000 {H$`m J`m & nwZrV, XrnH$ VWm _m `m Ho$ ZE bm^ {d^mOZ AZwnmV H$s JUZm H$s{OE & .67/3/1 2 1 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. (1) Analysis of Financial Statements and (2) 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 nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 1 mark each. (vi) Question nos. 14 and 30 are short answer type I questions carrying 3 marks each. (vii) Question nos. 15 to 18 and 31 are short answer type II questions carrying 4 marks each. (viii) Question nos. 19, 20 and 32 are long answer type I questions carrying 6 marks each. (ix) Question nos. 21 and 22 are long answer type II questions carrying 8 marks each. (x) Answers 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 part and question, wherever necessary. PART A (Accounting for Not-for-Profit Organizations, Partnership Firms and Companies) 1. Puneet and Deepak were in partnership sharing profits and losses in the ratio of 2 : 1. They admitted Manya as a new partner. Manya brought < 1,00,000 as her share of goodwill premium, which was entirely credited to Puneet s capital account. On the date of admission, goodwill of the firm was valued at < 3,00,000. Calculate the new profit sharing ratio of Puneet, Deepak and Manya. .67/3/1 1 3 P.T.O. 2. {Z Z _ | go H$m Z-gr ny OrJV m{ h ? (A) M Xm (B) Cn`moJ H$s JB IobHy$X gm_J r H$s {~H $s (C) ~ Xmo~ Vr H$mof (D) doe ew H$ 1 3. A{^X m ny Or hmoVr h : (A) n OrH $V ny Or H$m dh ^mJ {Ogo OZVm H$mo A{^XmZ Ho$ {bE {ZJ {_V {H$`m J`m h & (B) {ZJ {_V ny Or H$m dh ^mJ Omo dm Vd _| OZVm mam A{^X m {H$`m J`m h & (C) A{^X m ny Or H$m dh ^mJ {Ogo A em| Ho$ {bE _m Jm J`m h & (D) A{^X m ny Or H$m dh ^mJ {Ogo A em| Ho$ {bE A^r VH$ _m Jm Zht J`m h & 1 4. AemoH$ VWm gwYm EH$ \$_ Ho$ gmPoXma Wo VWm 3:1 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & C hm|Zo ~mZr H$mo EH$ ZE gmPoXma Ho$ $n _| doe {X`m & AemoH$ Zo AnZo ^mJ H$m ^mJ VWm gwYm Zo AnZo ^mJ H$m 1 dm 4 1 dm 4 ^mJ ~mZr Ho$ nj _| `mJ {X`m & \$_ Ho$ bm^m| _| 1 ~mZr H$m ^mJ hmoJm : (A) (B) (C) (D) 5 8 1 8 1 4 7 16 5. {Z Z _| go H$m Z-gm H$WZ m{ VWm ^wJVmZ ImVo Ho$ {bE ghr Zht h ? (A) `h amoH$ S> ~hr H$m gmam e h & (B) `h Ho$db Am`JV H ${V H$s { `m| VWm ^wJVmZm| H$m boIm H$aVm h & (C) m{ `m VWm ^wJVmZ Mmby df , {nN>bo df AWdm AmZo dmbr Ad{Y`m| go g ~p YV hmo gH$Vo h & (D) Bg_ o _y ` mg Zht Xem `m OmVm & 6. A{^X m ny Or H$m dh ^mJ Omo A^r VH$ _m Jm Zht J`m h .67/3/1 4 ___________ H$hbmVm h & 1 1 2. Which of the following is a capital receipt ? (A) Subscriptions (B) Sale of used sports material (C) Endowment fund (D) Entrance fees 1 3. Subscribed capital is : (A) That part of authorised capital which is issued to the public for subscription. (B) That part of issued capital which has been actually subscribed by the public. (C) That part of subscribed capital which has been called up on the shares. (D) That part of subscribed capital which has not yet been called up on the shares. 1 4. Ashok and Sudha were partners in a firm sharing profits and losses in the ratio of 3 : 1. They admitted Bani as a new partner. Ashok sacrificed 1 th 1 of his share and Sudha sacrificed th of her share is favour of Bani. 4 4 Bani s share in the profits of the firm will be : 5. 6. (A) 5 8 (B) 1 8 (C) 1 4 (D) 7 16 Which of the following statements is not true for Receipts and Payments Account ? (A) It is a summary of the Cash Book. (B) It records receipts and payments of revenue nature only. (C) The receipts and payments may relate to current, preceding, or succeeding accounting periods. (D) Depreciation is not shown in it. That part of the subscribed capital which has not yet been called is known as ___________ . .67/3/1 5 1 1 1 P.T.O. 7. aOV, _rer VWm VZdr EH$ \$_ Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & 31 A Qy>~a, 2019 H$mo VZdr H$s _ `w hmo JB & gmPoXmar g boI Ho$ AZwgma, {nN>bo boIm H$Z df H$s g_m{ go CgH$s _ `w H$s {V{W VH$ \$_ _| CgHo$ bm^ Ho$ ^mJ H$s JUZm _ `w go nyd Xmo nyU dfm] Ho$ Hw$b bm^m| Ho$ AmYma na H$s OmEJr & 31 _mM , 2018 VWm 31 _mM , 2019 H$mo g_m h E dfm] Ho$ {bE \$_ H$m bm^ H $_e: < 57,000 VWm < 63,000 Wm & \$_ AnZr nw VH|$ {V df 31 _mM H$mo ~ X H$aVr h & CgH$s _ `w H$s {V{W VH$ VZdr Ho$ bm^ H$m ^mJ hmoJm : (A) (B) (C) (D) 1 < 24,000 < 7,000 < 14,000 < 12,000 8. `dgm` Ho$ H $` Ho$ g_` ew n[ag n{ m`m| go H $` _y ` H$s A{YH$Vm H$mo : (A) ny OrJV g M` _ o Ho o${S>Q> {H$`m OmVm h & (B) `m{V ImVo _| S>o{~Q> {H$`m OmVm h & (C) gm_m ` g M` ImVo _| Ho o${S>Q> {H$`m OmVm h & (D) {dH o$Vm (~oMZo dmbo) Ho$ ImVoo _| Ho o${S>Q> {H$`m OmVm h & 1 9. {ZXoeH$m| mam dm Vd _ o _m Jo OmZo go nyd A eYmaH$m| go m A{J _ W_ `mMZm am{e H$mo : (A) A{J _ `mMZm ImVo _| S>o{~Q> {H$`m OmVm h & (B) eo`a Am~ Q>Z ImVo _| Ho o${S>Q> {H$`m OmVm h & (C) W_ `mMZm ImVo _| S>o{~Q> {H$`m OmVm h & (D) A{J _ `mMZm ImVo _| Ho o${S>Q> {H$`m OmVm h & 1 10. r{_`a {b{_Q>oS> Zo < 100 `oH$ Ho$ 2,000, 9% G$Un m| H$m {ZJ _Z g__y ` na {H$`m, {OZH$m emoYZ nm M dfm] Ho$ n MmV 10% r{_`_ na H$aZm Wm & G$Un emoYZ {Zdoe _| {Zdoe H$s OmZo dmbr `yZV_ am{e hmoJr : (A) (B) (C) (D) .67/3/1 < 30,000 < 33,000 < 50,000 < 2,00,000 6 1 7. Rajat, Mishi and Tanvi were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Tanvi died on 31st October, 2019. According to the partnership agreement, her share of profits from the closure of last accounting year till the date of her death was to be calculated on the basis of aggregate profits of two completed years before death. Profits of the firm for the years ending 31st March, 2018 and 31st March, 2019 were < 57,000 and < 63,000 respectively. The firm closes its books on 31st March every year. Tanvi s share of profits till the date of her death will be : (A) (B) (C) (D) 8. 9. (B) (C) (D) .67/3/1 1 Credited to calls-in-advance account. Premier Ltd. issued 2,000, 9% Debentures of < 100 each at par, redeemable after five years at a premium of 10%. The minimum amount invested in Debenture Redemption Investments will be : (A) 1 Debited to the Goodwill Account. Credited to the General Reserve Account. Credited to the Vendor s Account. First call amount received in advance from the shareholders before it is actually called up by the directors is : (A) Debited to calls-in-advance account. (B) Credited to share allotment account. (C) Debited to first call account. (D) 10. < 24,000 < 7,000 < 14,000 < 12,000 Excess value of net assets over purchase consideration at the time of purchase of business is : (A) Credited to the Capital Reserve. (B) (C) (D) 1 1 < 30,000 < 33,000 < 50,000 < 2,00,000 7 P.T.O. 11. AmhaU na `mO < 4,000 Ho$ boZXoZ Ho$ {bE [a $ WmZm| H$s ny{V H$s{OE : amo OZm_Mm Zm_ O_m {V{W {ddaU Im. ~. n . < < ........................... Zm_o, 1 4,000 ................................ 4,000 (AmhaU na `mO bJm`m) 12. 1 A b, 2018 H$mo _ `r b~ H$m nwa H$ma H$mof < 8,00,000 Wm & BgZo df _| nwa H$mam| na < 8,70,000 H$s am{e `` H$s & 31 _mM , 2019 H$mo p W{V {ddaU _| nwa H$ma H$mof H$m eof hmoJm : (A) (C) < 70,000 < 8,00,000 (< 70,000) (D) ey ` (B) 13. d ` {b{_Q>oS> Zo ~ H$ Am \$ Bp S>`m go < 25,00,000 H$m G$U boZo Ho$ {bE g nmp d H$ {V^y{V Ho$ $n _| < 100 `oH$ Ho$ 30,000, 10% G$Un m| H$m {ZJ _Z {H$`m & G$Un m| H$mo g nmp d H$ {V^y{V Ho$ $n _| {ZJ {_V H$aZo H$s amo OZm_Mm {d{ Q> _| [a $ WmZm| H$s ny{V H$s{OE : d ` {b{_Q>oS> amo OZm_Mm Zm_ O_m {V{W {ddaU Im. ~. n . < < ...................... ImVm Zm_o, ............ ......................... ImVm ............ (< 25,00,000 Ho$ G$U Ho$ {bE < 30,00,000; 10% G$Un m| H$m g nmp d H$ {V^y{V Ho$ $n _| {ZJ _Z) .67/3/1 8 1 1 11. Fill in the blanks for the transaction Interest on drawings < 4,000. 1 Journal Date Particulars L.F. ...................................... Dr. Dr. Cr. < < 4,000 To ............................. 4,000 (Being Interest on drawings charged) 12. On 1st April, 2018, Maitreyi Club had a Prize Fund of < 8,00,000. It incurred expenses on prizes amounting to < 8,70,000 during the year. The balance of Prize Fund in the Balance Sheet as at 31st March, 2019 will be : (A) (C) < 70,000 < 8,00,000 (< 70,000) (D) Zero (B) 13. Vashya Ltd. issued 30,000, 10% Debentures of < 100 each as collateral security for a loan of < 25,00,000 taken from Bank of India. Fill in the blanks for the journal entry for issue of debentures as a collateral security : 1 1 Vashya Ltd. Journal Date Particulars L.F. ................................ A/c Dr. To ............................. A/c Dr. Cr. < < .......... .......... (Being < 30,00,000; 10% debentures issued as collateral security for a loan of < 25,00,000) .67/3/1 9 P.T.O. 14. `m_Or M [aQ>o~b gmogmBQ>r go g ~ {YV {Z Z {ddaUm| go, df Ho$ {bE m{ VWm ^wJVmZ ImVm V `ma H$s{OE : _mM , 2019 H$mo g_m h E 3 am{e {ddaU 1.4.2018 31 < 16,000 H$mo amoH$ S> h Vo 1.4.2018 H$mo ~ H$ _| amoH$ S> M Xm (2017 18 H$m < 11,000 gp _{bV) 28,000 60,000 2,90,000 ^dZ Ho$ {bE XmZ {d{dY `` 98,000 bm H$a {H$am`m 32,000 doe ew H$ 41,000 AWdm EH$ A nVmb H$s Xr JB gyMZm go df 2018 19 _| Cn^moJ H$s JB XdmB`m| H$s am{e H$s JUZm H$s{OE : am{e {ddaU < 5,10,000 XdmB`m| Ho$ H $` Ho$ {bE ^wJVmZ H $` H$s JB XdmB`m| Ho$ boZXma : 1.4.2018 34,000 H$mo 31.3.2019 H$mo 29,000 XdmB`m| H$m Q>m H$ : 1.4.2018 86,000 H$mo 31.3.2019 39,000 H$mo XdmB`m| Ho$ Amny{V H$Vm Am| H$mo A{J _ : 1.4.2018 31.3.2019 .67/3/1 26,000 H$mo 32,000 H$mo 10 3 14. From the following particulars relating to Shyamji Charitable Society, prepare a Receipts and Payments Account for the year ending 31st March, 2019 : 3 Amount Particulars < Cash in hand as on 1.4.2018 16,000 Cash at bank as on 1.4.2018 28,000 Subscriptions (including < 11,000 for 2017 18) 60,000 2,90,000 Donations for building Miscellaneous expenses 98,000 Locker rent 32,000 Entrance fees 41,000 OR From the given information of a hospital, calculate the amount of medicines consumed during the year 2018 19 : 3 Amount Particulars < Payment for purchase of medicines 5,10,000 Creditors for medicines purchased : On 1.4.2018 34,000 On 31.3.2019 29,000 Stock of Medicines : On 1.4.2018 86,000 On 31.3.2019 39,000 Advance to suppliers of medicines : .67/3/1 On 1.4.2018 26,000 On 31.3.2019 32,000 11 P.T.O. 15. drZm VWm gmo_oe EH$ \$_ Ho$ gmPoXma Wo VWm CZH$s ny Or H $_e: < 1,00,000 VWm 1 < 80,000 Wr & 1 A b, 2019 H$mo C hm|Zo \$_ Ho$ ^mdr bm^m| _| d| ^mJ Ho$ {bE 4 {Zem H$mo EH$ Z`m gmPoXma ~Zm`m & {Zem AnZr ny Or Ho$ {bE < 90,000 bmB & {Zem Zo AnZo ^mJ H$m 1 dm ^mJ drZm go VWm eof gmo_oe go {b`m & 12 \$_ H$s `m{V Ho$ _y ` H$s JUZm H$s{OE VWm {Zem Ho$ doe na Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & AWdm 4 Amem, arZm VWm MmhV EH$ \$_ H$s gmPoXma Wt VWm 2 : 2 : 1 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vr Wt & 31 _mM , 2019 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2019 H$mo Amem, arZm VWm MmhV H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < 12,00,000 boZXma gm_m ` g M` ny Or 2,00,000 : Amem arZm MmhV g ` VWm _erZar Q>m H$ 3,00,000 {d{dY XoZXma 2,60,000 KQ>m g {X Y G$Um| Ho$ {bE mdYmZ 20,000 2,00,000 ~ H$ 1,00,000 14,80,000 2,20,000 2,40,000 60,000 6,00,000 20,00,000 20,00,000 1 A b, 2019 go Amem, arZm VWm MmhV Zo ^mdr bm^m| H$mo ~am~a-~am~a ~m Q>Zo H$m {ZU ` {b`m & BgHo$ {bE `h gh_{V h B {H$ : (i) \$_ H$s `m{V H$m _y `m H$Z < 1,50,000 {H$`m J`m & (ii) Sy>~V G$U < 40,000 Ho$ Wo & XoZXmam| na g {X Y G$Um| Ho$ {bE mdYmZ H$aZm Wm & 5% H$s Xa go \$_ H$s nw VH$m| _| Cn`w $ boZXoZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & .67/3/1 12 4 15. Veena and Somesh were partners in a firm with capitals of < 1,00,000 and < 80,000 respectively. They admitted Nisha on 1 th new partner for share in the future profits 4 brought < 90,000 as her capital. Nisha acquired her 1st April, 2019 as a of the firm. Nisha 1 th share as from 12 Veena and the remaining from Somesh. Calculate the value of goodwill of the firm and pass the necessary journal entries on Nisha s admission. 4 OR Asha, Rina and Chahat were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2019 was as follows : Balance Sheet of Asha, Rina and Chahat as at 31st March, 2019 Amount Liabilities < Creditors Amount Assets < 12,00,000 Plant and Machinery General Reserve Capitals : 2,00,000 Stock Sundry Debtors 14,80,000 2,20,000 2,60,000 Asha 3,00,000 Rina Chahat 2,00,000 1,00,000 Less Provision for doubtful debts 20,000 Bank 2,40,000 60,000 6,00,000 20,00,000 20,00,000 Asha, Rina and Chahat decided to share future profits equally with effect from 1st April, 2019. For this, it was agreed that : (i) Goodwill of the firm be valued at < 1,50,000. (ii) Bad debts amounted to < 40,000. A provision for doubtful debts was to be made @ 5% on debtors. Pass the necessary journal entries to record the above transactions in the books of the firm. .67/3/1 4 13 P.T.O. 16. ZrZm VWm gmam EH$ \$_ H$s gmPoXma Wt VWm CZH$s Wm`r ny Or H $_e: < 5,00,000 VWm < 4,00,000 Wr & `h nm`m J`m {H$ 6% dm{f H$ Xa go 31 _mM , 2018 VWm 31 _mM , 2019 H$mo g_m hmoZo dmbo Xmo dfmo] Ho$ ny Or na `mO H$s IVm Zr gmPoXmam| Ho$ O_m nj _ o H$a Xr JB O~{H$ gmPoXmar g boI _| Eogm H$moB mdYmZ Zht Wm & {nN>bo Xmo dfm] Ho$ Xm amZ CZH$m bm^-{d^mOZ AZwnmV Wm : 2017 18 4:5 2018 19 5:1 AnZo H$m` H$mo n > $n go Xem Vo h E, Aew{ Ho$ emoYZ Ho$ {bE Amd `H$ amo OZm_Mm {d{ > H$s{OE & 17. 4 A{X{V, H$m{V H$ VWm Q>rZm EH$ \$_ Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2019 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2019 H$mo A{X{V, H$m{V H$ VWm Q>rZm H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < boZXma ny Or : A{X{V H$m{V H Q>rZm 96,000 3,00,000 2,00,000 1,00,000 \$ZuMa Q>m H$ XoZXma ZJX 4,30,000 1,50,000 83,000 33,000 6,00,000 6,96,000 6,96,000 1 Zd ~a, 2019 H$mo (i) (ii) (iii) A{X{V H$s _ `w hmo JB & `h gh_{V h B {H$ : \$_ H$s `m{V H$m _y `m H$Z < 1,00,000 {H$`m OmE & df 2019 20 H$m bm^ {nN>bo df 2018 19 Ho$ bm^ Ho$ AmYma na A{O V h Am _mZm OmE & df 2018 19 H$m bm^ < 96,000 Wm & AmYr am{e H$m ^wJVmZ A{X{V Ho$ {Z nmXH$m| H$mo Vwa V H$a {X`m J`m VWm eof AmYo H$m ^wJVmZ 6% dm{f H$ `mO Xa Ho$ gmW Xmo g_mZ dm{f H$ {H$ Vm| _o| {H$`m OmEJm & _ `w H$s {V{W na \$_ H$s nw VH$m| _| Cn`w $ boZXoZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & .67/3/1 14 4 16. Neena and Sara were partners in a firm with fixed capitals of < 5,00,000 and < 4,00,000 respectively. It was discovered that interest on capital @ 6% p.a. was credited to the partners for the two years ending 31st March, 2018 and 31st March, 2019 whereas there was no such provision in the partnership deed. Their profit sharing ratio during the last two years was : 2017 18 4:5 2018 19 5:1 Showing your workings clearly, pass the necessary adjustment entry to rectify the error. 17. 4 Aditi, Kartik and Tina were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2019, their Balance Sheet was as follows : Balance Sheet of Aditi, Kartik and Tina as at 31st March, 2019 Amount Liabilities Assets < Creditors 96,000 Furniture Capitals : Aditi Kartik Tina Stock 3,00,000 2,00,000 1,00,000 Amount < 4,30,000 1,50,000 Debtors 83,000 Cash 33,000 6,00,000 6,96,000 6,96,000 Aditi died on 1st November, 2019. It was agreed that : (i) Goodwill of the firm be valued at < 1,00,000. (ii) Profit for the year 2019 20 be taken as having accrued at the same rate as the previous year 2018 19. Profit for the year 2018 19 was < 96,000. (iii) Half the amount was paid to Aditi s executors immediately and the remaining half will be paid in two equal annual instalments with interest @ 6% p.a. Pass the necessary journal entries to record the above transactions in the books of the firm on the date of her death. .67/3/1 15 4 P.T.O. 18. 31 _mM , 2019 H$mo g_m h E df Ho$ {bE \ o$ S >g b~ Ho$ {XE JE m{ VWm ^wJVmZ ImVo VWm A{V[a $ gyMZm go, 31 _mM , 2019 H$mo g_m h E df H$m Am` VWm `` ImVm V `ma H$s{OE & 31 _mM , 2019 H$mo g_m h E df Ho$ {bE \ o$ S >g b~ H$m m{ VWm ^wJVmZ ImVm am{e am{e m{ `m ^w J VmZ < < eof ZrMo bmE 50,400 XmZ 44,000 nwamZr IobHy$X gm_J r H$m {dH $` 2,000 M Xm : 2017 18 1,600 2018 19 60,000 2019 20 5,000 doe ew H$ \$ZuMa (1.12.2018 H$mo H $`) doVZ g{Md H$m _mZXo` 1,20,000 1,00,000 4,000 nw VH|$ 44,000 eof ZrMo bo JE 15,000 66,600 1,20,000 2,83,000 2,83,000 A{V[a $ gyMZm : (i) (ii) (iii) 19. 1 A b, 2018 H$mo b~ Ho$ nmg n[ag n{ m`m| VWm Xo`VmAm| Ho$ {Z Z eof Wo : \$ZuMa < 1,00,000; AX m M Xm < 2,000 VWm AX m doVZ < 6,000. b~ Ho$ 75 gX ` Wo VWm `oH$ < 1,000 dm{f H$ M Xm XoVm h & \$ZuMa na 10% {V df H$s Xa go _y ` mg bJmZm h & dgwYm VWm XrdmZ EH$ \$_ Ho$ gmPoXma Wo VWm 2 : 3 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2019 H$mo \$_ H$m {dKQ>Z hmo J`m & n[ag n{ m`m| (amoH$ S> H$mo N>mo S>H$a) VWm ~m Xo`VmAm| H$mo dgybr ImVo _| WmZm V[aV H$aZo Ho$ n MmV {Z Z boZXoZ h E : (i) < 60,000 A {H$V _y ` Ho$ {Zdoem| H$mo Iwbo ~m Oma _| < 63,000 _| ~oMm J`m VWm BgHo$ {bE Xbmb H$mo < 700 H$_reZ H$m ^wJVmZ {H$`m J`m & (ii) < 65,000 Ho$ boZXmam| H$m {ZnQ>mZ C h| nyU Q>m H$ XoH$a VWm < 23,000 M H$ mam ^wJVmZ H$aHo$ {H$`m J`m & .67/3/1 16 4 18. From the given Receipts and Payments Account and additional information of Friends Club for the year ended 31st March, 2019, prepare Income and Expenditure Account for the year ending 31st March, 2019. Receipts and Payments Account of Friends Club for the year ending 31st March, 2019 Receipts To Balance b/d To Donations To Sale of old sports material To Subscriptions : 2017 18 1,600 2018 19 60,000 2019 20 5,000 To Entrance fees Amount < Payments By Furniture (Purchased on 1.12.2018) 44,000 By Salaries 50,400 2,000 By Secretary s honorarium By Books By Balance c/d Amount < 1,20,000 1,00,000 4,000 44,000 15,000 66,600 1,20,000 2,83,000 2,83,000 Additional Information : (i) On 1st April, 2018 the Club had the following balances of assets and liabilities : Furniture < 1,00,000; Subscriptions in arrears < 2,000 and Outstanding Salary < 6,000. (ii) The Club had 75 members each paying an annual subscription of < 1,000. (iii) Charge depreciation on Furniture @ 10% p.a. 19. 4 Vasudha and Dewan were partners in a firm sharing profits and losses in the ratio of 2 : 3. The firm was dissolved on 31st March, 2019. After transfer of assets (other than cash) and external liabilities to Realization Account, the following transactions took place : (i) Investments of the face value of < 60,000 were sold in the open market for < 63,000 for which a commission of < 700 was paid to the broker. (ii) Creditors worth < 65,000 were settled by handing over the entire stock to them along with a payment of < 23,000 by cheque. .67/3/1 17 P.T.O. (iii) nwamZm \$ZuMa Wm {Ogo \$_ H$s nw VH$m| go nyU $n go An{b{IV H$a {X`m J`m Wm & Bgo dgwYm Zo < 2,000 _| bo {b`m & (iv) XrdmZ Zo lr_Vr XrdmZ Ho$ < 45,000 Ho$ G$U ^wJVmZ H$s gh_{V Xr & (v) XrdmZ H$mo {dKQ>Z {H $`m H$s XoIaoI Ho$ {bE {Z`w $ {H$`m J`m {OgHo$ {bE Cgo < 7,000 nm[al{_H$ {X`m OmEJm & dh {dKQ>Z `` dhZ H$aZo Ho$ {bE gh_V hmo J`m & dm Vd _| XrdmZ mam < 11,000 `` {H$E JE {OgH$m ^wJVmZ \$_ Zo {H$`m & (vi) {dKQ>Z na < 9,000 H$s hm{Z h B & \$_ H$s nw VH$m| _| Cn`w $ boZXoZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & 20. {Z Z boZXoZm| Ho$ {bE G$Un m| Ho$ {ZJ _Z na Amd `H$ amo OZm_Mm {d{ >`m H$s{OE : (i) AmZ X {b{_Q>oS> Zo < 4,80,000 bmJV H$s _erZar H $` Ho$ {bE {dH o$VmAm| H$mo < 500 `oH$ Ho$ 800, 9% G$Un m| H$m {ZJ _Z 20% Ho$ r{_`_ na {H$`m & (ii) S>mda {b{_Q>oS> Zo < 200 `oH$ Ho$ 5,000, 7% G$Un m| H$m {ZJ _Z 5% Ho$ r{_`_ na {H$`m & BZ G$Un m| H$m emoYZ 10% Ho$ r{_`_ na H$aZm Wm & (iii) Zm d Q>r {b{_Q>oS> Zo < 100 `oH$ Ho$ 1,000, 8% G$Un m| H$m {ZJ _Z 5% Ho$ ~ >o na {H$`m & BZ G$Un m| H$m emoYZ 10% Ho$ r{_`_ na H$aZm Wm & AWdm (i) 1 A b, 2019 H$mo ~ mBQ> {b{_Q>oS> Zo < 100 `oH$ Ho$ 4,00,000, 6% G$Un m| H$m {ZJ _Z 5% ~ >o na {H$`m & BZH$m emoYZ VrZ dfm] Ho$ n MmV H$aZm Wm & {V G$Un am{e H$m ^wJVmZ {Z Z H$ma go Wm : AmdoXZ na < 80 {V G$Un Am~ Q>Z na eof G$Un nyU V: A{^X m h E VWm g^r am{e m hmo JB & G$Un m| Ho$ {ZJ _Z na Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & (ii) {Xem {b{_Q>oS> Zo H ${V {b{_Q>oS> H$s < 8,00,000 H$s n[ag n{ m`m| VWm < 3,00,000 H$s Xo`VmAm| H$m < 6,00,000 Ho$ H $` _y ` na A{YJ hU {H$`m & ^wJVmZ < 100 `oH$ Ho$ 9% G$Un m| H$mo 20% r{_`_ na {ZJ {_V H$aHo$ {H$`m J`m & {Xem {b{_Q>oS> H$s nw VH$m| _o| Cn`w $ boZXZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & .67/3/1 18 6 6 6 (iii) There was old furniture which had been completely written off from the books of the firm. It was taken over by Vasudha at < 2,000. (iv) Dewan undertook to pay Ms. Dewan s loan of < 45,000. (v) Dewan was appointed to look after the process of dissolution for which he was allowed a remuneration of < 7,000. He agreed to bear the dissolution expenses. Actual expenses incurred by Dewan were < 11,000, which were paid by the firm. (vi) Loss on realisation amounted to < 9,000. Pass the necessary journal entries to record the above transactions in the books of the firm. 20. 6 Pass the necessary journal entries for the issue of debentures for the following transactions : (i) Anand Ltd. issued 800, 9% Debentures of < 500 each at a premium of 20%, to the vendors for machinery purchased from them costing < 4,80,000. (ii) Dawar Ltd. issued 5,000, 7% Debentures of < 200 each at a premium of 5%, redeemable at a premium of 10%. (iii) Novelty Ltd. issued 1,000, 8% Debentures of < 100 each at a discount of 5%, redeemable at a premium of 10%. (i) 6 OR On 1st April, 2019, Bright Ltd. issued < 4,00,000, 6% Debentures of < 100 each at a discount of 5%, redeemable after three years. The amount per debenture was payable as follows : On Application < 80 per debenture On Allotment Balance The debentures were fully subscribed and all money was duly received. Pass necessary journal entries for issue of debentures. (ii) Disha Ltd. took over assets of < 8,00,000 and liabilities of < 3,00,000 from Kriti Ltd. for a purchase consideration of < 6,00,000. The payment was made by issue of 9% Debentures of < 100 each at 20% premium. Pass the necessary journal entries for the above transactions in the books of Disha Ltd. .67/3/1 19 6 P.T.O. 21. amR>r {b{_Q>oS> Zo < 10 `oH$ Ho$ 1,00,000 A em| H$mo < 2 {V A e Ho$ r{_`_ na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & {V A e am{e H$m ^wJVmZ {Z Z H$ma go H$aZm Wm : AmdoXZ na < 4 (< 1 r{_`_ g{hV) Am~ Q>Z na < 4 (< 1 r{_`_ g{hV) W_ VWm Ap V_ `mMZm na eof 1,50,000 A em| Ho$ {bE AmdoXZ m V h E VWm AmdoXH$m| H$mo Am~ Q>Z {Z Z H$ma go {H$`m J`m : (i) 80,000 A em| Ho$ AmdoXH$m| H$mo 60,000 A e Am~ {Q>V {H$E JE & (ii) 50,000 A em| Ho$ AmdoXH$m| H$mo 40,000 A e Am~ {Q>V {H$E JE & (iii) eof AmdoXH$m| H$mo A em| H$m H$moB Am~ Q>Z Zht {H$`m J`m VWm CZH$s AmdoXZ am{e dmng H$a Xr JB & `{VZ, Omo dJ (ii) go g ~p YV Wm VWm {OgZo 5,000 A em| Ho$ {bE AmdoXZ {H$`m Wm, Am~ Q>Z am{e VWm `mMZm am{e H$m ^wJVmZ H$aZo _ o Ag\$b ahm & CgHo$ A em| H$m haU H$a {b`m J`m & BgHo$ n MmV , `{VZ Ho$ haU {H$E JE AmYo A em| H$mo < 18 {V A e nyU X m nwZ: {ZJ {_V H$a {X`m J`m & amR>r {b{_Q>oS> H$s nw VH$m| _| Cn`w $ boZXZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & AWdm B H$mo {b{_Q>oS> Zo < 10 `oH$ Ho$ 2,00,000 g_Vm A em| H$mo < 3 {V A e Ho$ r{_`_ 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 Am~ Q>Z na < 6 {V A e (< 3 r{_`_ g{hV) W_ VWm Ap V_ `mMZm na eof 3,00,000 A em| Ho$ {bE AmdoXZ m V h E VWm g^r AmdoXH$m| H$mo AmZwnm{VH$ AmYma na A em| H$m Am~ Q>Z H$a {X`m J`m & AmdoXZ na ^wJVmZ H$s JB A{V[a $ am{e H$m g_m`moOZ Am~ Q>Z na Xo` am{e _| H$a {b`m J`m & gwZrb, {OgZo 6,000 A em| Ho$ {bE AmdoXZ {H$`m Wm, Am~ Q>Z am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm, O~{H$ 2,000 A em| Ho$ YmaH$ [af^ Zo Am~ Q>Z Ho$ gmW W_ VWm Ap V_ `mMZm H$m ^wJVmZ H$a {X`m & Am~ Q>Z Ho$ Vwa V n MmV gwZrb Ho$ A em| H$m haU H$a {b`m J`m & CgHo$ n MmV , W_ VWm Ap V_ `mMZm _m Jr JB VWm nyU $n go m hmo JB & haU {H$E JE AmYo A em| H$mo < 9 {V A e nyU X m dfm H$mo nwZ: {ZJ {_V H$a {X`m J`m & B H$mo {b{_Q>oS> H$s nw VH$m| _| Cn`w $ boZXoZm| H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & .67/3/1 20 8 8 21. Rathi Ltd. invited applications for issuing 1,00,000 shares of < 10 each at a premium of < 2 per share. Amount per share was payable as follows : On Application On Allotment < 4 (including premium < 1) < 4 (including premium < 1) On First and Final Call Balance Applications were received for 1,50,000 shares and allotment was made to the applicants as follows : (i) Applicants of 80,000 shares were allotted 60,000 shares. (ii) Applicants of 50,000 shares were allotted 40,000 shares. (iii) No shares were allotted to the remaining applicants and their application money was returned. Yatin, who belonged to category (ii) and who had applied for 5,000 shares failed to pay the allotment and call money. His shares were forfeited. Later, half of Yatin s forfeited shares were reissued @ < 18 per share as fully paid up. Pass the necessary journal entries to record the above transactions in the books of Rathi Ltd. OR 8 Eiko Ltd. invited applications for issuing 2,00,000 equity shares of < 10 each at a premium of < 3 per share. The amount was payable as follows : On Application < 4 per share On Allotment < 6 per share (including premium < 3) On First and Final Call Balance Applications were received for 3,00,000 shares and allotment was made on pro-rata basis to all the applicants. Money overpaid on applications was utilised towards sums due on allotment. Sunil, who applied for 6,000 shares failed to pay the allotment money while Rishab holding 2,000 shares paid the first and final call money with allotment. Sunil s shares were forfeited immediately after allotment. Thereafter, first and final call was made and was duly received. Half of the forfeited shares were reissued to Varsha as fully paid for < 9 per share. Pass the necessary journal entries to record the above transactions in the books of Eiko Ltd. .67/3/1 8 21 P.T.O. 22. Amerf VWm {Z{_f EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2019 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2019 H$mo Amerf VWm {Z{_f H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < ny Or : Amerf {Z{_f 3,10,000 2,90,000 6,00,000 < g ` VWm _erZar 2,90,000 \$ZuMa 2,20,000 XoZXma KQ>m g {X Y G$Um| Ho$ {bE mdYmZ 90,000 gm_m ` g M` 50,000 H$m_Jma j{Vny{V H$mof 20,000 Q>m H$ 1,40,000 1,10,000 amoH$ S> 41,000 boZXma 7,80,000 1,000 89,000 7,80,000 H$mo JrVm H$mo bm^ _| 1 d| ^mJ Ho$ {bE {Z Z eVm] na doe {X`m J`m : 4 \$_ H$s `m{V H$m _y `m H$Z < 2,00,000 {H$`m J`m & JrVm AnZr ny Or Ho$ {bE < 3,00,000 VWm `m{V r{_`_ Ho$ AnZo ^mJ Ho$ {bE ZJX bmB & Sy>~V G$U < 2,000 Ho$ Wo & XoZXmam| na g {X Y G$Um| Ho$ {bE 5% H$s Xa go mdYmZ H$aZm h & \$ZuMa H$m _y ` < 65,400 H$_ nm`m J`m & {Z{_f Zo < 1,30,000 _| Q>m H$ bo {b`m & H$m_Jma j{Vny{V H$mof H$s Xo`Vm H$m {ZYm aU < 30,000 {H$`m J`m & Cn`w $ g_m`moOZm| Ho$ n MmV Amerf VWm {Z{_f H$s ny {O`m| H$mo JrVm H$s ny Or Ho$ AmYma na g_m`mo{OV {H$`m J`m & Am{Y ` AWdm H$_r H$m g_m`moOZ Mmby ImVo ImobH$a H$aZm Wm & 1 A b, 2019 (i) (ii) (iii) (iv) (v) (vi) (vii) nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm JrVm Ho$ doe Ho$ n MmV \$_ H$m p W{V {ddaU V `ma H$s{OE & AWdm .67/3/1 22 8 22. Ashish and Nimish were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2019 their Balance Sheet was as follows : Balance Sheet of Ashish and Nimish as at 31st March, 2019 Amount Liabilities Capitals : Ashish 3,10,000 Nimish 2,90,000 Amount Assets < < Plant and Machinery 2,90,000 Furniture 2,20,000 6,00,000 Debtors 90,000 General Reserve Less provision for 50,000 doubtful debts 1,000 Workmen s Compensation Fund 20,000 Stock 1,40,000 1,10,000 Cash 41,000 Creditors 7,80,000 89,000 7,80,000 On 1st April, 2019, Geeta was admitted into the partnership for 1 th 4 share in the profits on the following terms : (i) Goodwill of the firm was valued at < 2,00,000. (ii) Geeta brought < 3,00,000 as her capital and her share of goodwill premium in cash. (iii) Bad debts amounted to < 2,000. Create a provision for doubtful debts @ 5% on debtors. (iv) Furniture was found undervalued by < 65,400. (v) Stock was taken over by Nimish for < 1,30,000. (vi) The liability against determined at < 30,000. workmen s compensation fund was (vii) After the above adjustments, the capitals of Ashish and Nimish were to be adjusted taking Geeta s capital as the base. Excess or shortage was to be adjusted by opening current accounts. Prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of the firm after Geeta s admission. 8 OR .67/3/1 23 P.T.O. amYm, _mZg VWm AZ d EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 1 : 1 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2019 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2019 H$mo amYm, _mZg VWm AZ d H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < ny Or : \$ZuMa 4,60,000 amYm 4,00,000 {Zdoe 2,00,000 _mZg 3,00,000 Q>m H$ 2,40,000 AZ d 2,00,000 9,00,000 {Zdoe CVma-M T>md H$mof 1,10,000 boZXma 2,50,000 XoZXma 2,20,000 KQ>m g {X Y G$Um| Ho$ {bE mdYmZ 10,000 ZJX 12,60,000 1 A b, 2019 2,10,000 1,50,000 12,60,000 H$mo _mZg Zo AdH$me J hU {H$`m & `h gh_{V h B {H$ : (i) Q>m H$ H$mo 20% go ~ T>m`m OmEJm & (ii) g {X Y G$Um| Ho$ {bE mdYmZ H$mo < 15,000 VH$ ~ T>m`m OmEJm &$ (iii) \$ZuMa Ho$ _y ` H$mo < 3,000 go H$_ {H$`m OmEJm & & (iv) {Zdoem| H$m ~m Oma _y ` < 1,90,000 Wm & (v) \$_ H$s `m{V H$m _y `m H$Z < 2,00,000 {H$`m J`m VWm _mZg Ho$ ^mJ H$m g_m`moOZ amYm VWm AZ d Ho$ ImVm| _| {H$`m J`m & (vi) _mZg H$mo < 68,000 H$m ^wJVmZ ZJX {H$`m J`m VWm eof H$mo CgHo$ G$U ImVo _| WmZm V[aV H$a {X`m J`m & (vii) amYm VWm AZ d H$s ny Or CZHo$ ZE bm^ {d^mOZ AZwnmV _| hmoJr & CZHo$ ny Or ImVm| _| `{X H$moB Am{Y `/H$_r h , Vmo CgH$m g_m`moOZ Mmby ImVm| Ho$ _m `_ go {H$`m OmEJm & nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm nwZJ {R>V \$_ H$m p W{V {ddaU V `ma H$s{OE & .67/3/1 24 8 Radha, Manas and Arnav were partners in a firm sharing profits and losses in the ratio of 3 : 1 : 1. Their Balance Sheet as at 31st March, 2019 was as follows : Balance Sheet of Radha, Manas and Arnav as at 31st March, 2019 Amount Liabilities < Capitals : Amount Assets < Furniture 4,60,000 Radha 4,00,000 Investments 2,00,000 Manas 3,00,000 Stock 2,40,000 Arnav 2,00,000 9,00,000 Debtors 2,20,000 Investment Fluctuation Fund Less provision for 1,10,000 doubtful debts 10,000 Creditors 2,50,000 Cash 12,60,000 2,10,000 1,50,000 12,60,000 Manas retired on 1st April, 2019. It was agreed that : (i) Stock was to be appreciated by 20%. (ii) Provision for doubtful debts was to be increased to < 15,000. (iii) Value of furniture was to be reduced by < 3,000. (iv) Market value of investments was < 1,90,000. (v) Goodwill of the firm was valued at < 2,00,000 and Manas s share was adjusted in the accounts of Radha and Arnav. (vi) Manas was paid < 68,000 in cash and the balance was transferred to his loan account. (vii) Capitals of Radha and Arnav were to be in proportion to their new profit sharing ratio. Surplus/deficit, if any, in their capital accounts was to be adjusted through current accounts. Prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of the reconstituted firm. .67/3/1 25 8 P.T.O. ^mJ> I {dH$ n 1 ({d mr` {ddaUm| H$m {d bofU) 23. 24. d ~ZmZo dmbr EH$ H$ nZr Ho$ {bE, H$ o _mb H$s m{ , C nmXZ ``m| H$m ^maJ hU, d m| Ho$ {dH $` H$mo ___________ J{V{d{Y`m| _| dJuH $V {H$`m OmVm h & Ama.dr. {b{_Q>oS> Ho$ A em| Ho$ A{YJ hU Ho$ {bE < 4,00,000 H$m ^wJVmZ {H$`m VWm A{YJ hU Ho$ n MmV < 40,000 bm^m e m {H$`m & Bg boZXoZ H$m n[aUm_ hmoJm (A) {Zdoe J{V{d{Y`m| _| `w $ amoH$ S> < 4,00,000. (B) {d mr` J{V{d{Y`m| mam C n amoH$ S> < 4,40,000. (C) {Zdoe J{V{d{Y`m| _| `w $ amoH$ S> < 3,60,000. (D) {d mr` J{V{d{Y`m| mam C n amoH$ S> < 3,60,000. 25. {Z Z _| go H$m Z {d mr` {ddaU {d bofU H$m Am Oma Zht h (A) p W{V {ddaU (B) amoH$ S> dmh {ddaU (C) bm^-hm{Z {ddaU (D) Cn`w $ g^r 26. amoH$ S> dmh {ddaU V `ma H$aVo g_`, `{X MmbZ, {Zdoe VWm {d mr` J{V{d{Y`m| go ew amoH$ S> dmh ZH$mam _H$ h , Vmo Bgo Ama {^H$ amoH$ S> eof _| ___________ OmVm h , ___________ amoH$ S> eof m V H$aZo Ho$ {bE & 27. ? H$ nZr Ho$ p W{V {ddaU _| gmd O{ZH$ O_m {Z Z _| go {H$g erf H$/Cn-erf H$ Ho$ A VJ V Xem E OmVo h : (A) A_yV n[ag n{ m`m (B) Mmby Xo`VmE (C) A eYmaH$ {Z{Y`m (D) AMb Xo`VmE .67/3/1 26 1 1 1 1 1 PART B OPTION 1 (Analysis of Financial Statements) 23. For a company manufacturing garments, procurement of raw material, incurrence of manufacturing expenses, sale of garments are classified as ____________ activities. 24. 1 Paid < 4,00,000 to acquire shares in R.V. Ltd. and received a dividend of < 40,000 after acquisition. These transactions will result in 25. 26. (A) Cash used in investing activities < 4,00,000. (B) Cash generated from financing activities < 4,40,000. (C) Cash used in investing activities < 3,60,000. (D) Cash generated from financing activities < 3,60,000. 1 Which of the following is not a tool of Financial Statements Analysis ? (A) Balance Sheet (B) Cash Flow Statement (C) Statement of Profit and Loss (D) All of the above 1 While preparing Cash Flow Statement, if net cash flow from operating, investing and financing activities is negative the same is ___________ to opening cash balance to obtain ___________ cash balance. 27. 1 Public Deposits appear in the company s Balance Sheet under the head/subhead : (A) Intangible Assets (B) Current Liabilities (C) Shareholders Funds (D) Non-Current Liabilities .67/3/1 1 27 P.T.O. 28. 29. 30. A{J _ m Am` EH$ H$ nZr Ho$ p W{V {ddaU _| Xem B OmVr h & ___________ Cn-erf H$ Ho$ A VJ V 1 < 35,000 Ho$ _mb H$m ZJX H $` MmbZ AZwnmV H$mo ~ T>mEJm & `m `h H$WZ ghr h H$maU Xr{OE & ? {Z Z gyMZm go Mmby AZwnmV VWm G$U-g_Vm AZwnmV H$s JUZm H$s{OE : 1 3 < AMb n[ag n{ m`m Mmby n[ag n{ m`m H$m` erb ny Or AMb Xo`VmE 16,00,000 4,00,000 2,00,000 12,00,000 AWdm {Z Z gyMZm go Amap ^H$ _mbgyMr (B d|Q >r) VWm Ap V_ _mbgyMr (B d|Q >r) H$s JUZm H$s{OE : _mbgyMr (B d|Q >r) AmdV AZwnmV = 5 JwUm MmbZm| go AmJ_ = < 8,00,000 gH$b bm^ AZwnmV = 25% Ap V_ _mbgyMr (B d|Q >r), Amap ^H$ _mbgyMr go < 20,000 A{YH$ Wr & 31. {dMma {b{_Q>oS> H$s nw VH$m| go m {Z Z gyMZm go {bE VwbZm _H$ bm^-hm{Z {ddaU V `ma H$s{OE : {ddaU MmbZm| go AmJ_ Cn^moJ {H$E JE _mb H$s bmJV A ` `` 2018 19 _mM , 2019 H$mo g_m h E df Ho$ 4 2017 18 Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb H$s bmJV H$m 300% H$s bmJV H$m 200% < 4,00,000 < 2,00,000 Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb H$s bmJV H$m 20% H$s bmJV H$m 20% 50% H$a Xa AWdm .67/3/1 31 28 3 50% 28. 29. 30. Income received in advance appears in the Balance Sheet of a company under the sub-head ___________ . 1 Purchase of goods < 35,000 for cash will increase the operating ratio. Is the statement correct ? Give reasons. 1 Calculate the Current Ratio and Debt-Equity Ratio from the following information : 3 < Non-Current Assets 16,00,000 Current Assets 4,00,000 Working Capital 2,00,000 Non-Current Liabilities 12,00,000 OR From the following information, determine the opening inventory and the closing inventory : Inventory Turnover Ratio = 5 times Revenue from Operations = < 8,00,000 31. Gross Profit Ratio = 25% Closing inventory was < 20,000 more than the opening inventory. 3 From the following information obtained from the books of Vichar Ltd., prepare a Comparative Statement of Profit and Loss for the year ending 31st March, 2019 : 4 Particulars Revenue from operations Cost of materials consumed Other expenses 2018 19 2017 18 300% of cost of materials consumed 200% of cost of materials consumed < 4,00,000 < 2,00,000 20% of cost of materials consumed 20% of cost of materials consumed 50% 50% Tax rate OR .67/3/1 29 P.T.O. 31 _mM , 2019 H$mo gm Mr {b{_Q>oS> Ho$ {Z Z p W{V {ddaU go EH$ gm_m ` AmH$ma H$m p W{V {ddaU V `ma H$s{OE : gm Mr {b{_Q>oS> 31 _mM , 2019 H$mo p W{V {ddaU ZmoQ> g . {ddaU I 31.3.2019 31.3.2018 < < g_Vm VWm Xo`VmE : 1. 2. A eYmaH$ {Z{Y`m : (A) A e ny Or 4,00,000 2,00,000 (~) g M` Ed Am{Y ` 1,00,000 70,000 3,00,000 4,30,000 2,00,000 3,00,000 10,00,000 10,00,000 6,00,000 5,00,000 (A) _mbgyMr ( Q>m H$) 2,50,000 2,00,000 (~) amoH$ S> Ed amoH$ S> Vw ` 1,50,000 3,00,000 10,00,000 10,00,000 AMb Xo`VmE : XrK H$mbrZ CYma 3. Mmby Xo`VmE : `mnm[aH$ Xo` Hw$b II 1. n[ag n{ m`m : AMb n[ag n{ m`m : Wm`r n[ag n{ m`m : _yV n[ag n{ m`m 2. Mmby n[ag n{ m`m : Hw$b .67/3/1 30 4 From the following Balance Sheet of Sanchi Ltd., as at 31st March, 2019, prepare a common size Balance Sheet : 4 Sanchi Ltd. Balance Sheet as at 31st March, 2019 Note No. Particulars 31.3.2019 31.3.2018 < < I Equity and Liabilities : 1. Shareholders Funds : (a) Share Capital 4,00,000 2,00,000 (b) Reserves and Surplus 1,00,000 70,000 3,00,000 4,30,000 2,00,000 3,00,000 10,00,000 10,00,000 6,00,000 5,00,000 (a) Inventories 2,50,000 2,00,000 (b) Cash and Cash Equivalents 1,50,000 3,00,000 Total 10,00,000 10,00,000 2. Non-Current Liabilities : Long-term Borrowings 3. Current Liabilities : Trade Payables Total II Assets : 1. Non-Current Assets : Fixed Assets : Tangible Assets 2. Current Assets : .67/3/1 31 P.T.O. 32. 31 _mM , 2019 H$mo g_m h E df Ho$ {bE AemoH$ {b{_Q>oS> H$s MmbZ J{V{d{Y`m| go ew amoH$ S> dmh ey ` Wm & AemoH$ {b{_Q>oS> Ho$ 31 _mM , 2019 H$mo {Z Z p W{V {ddaU go amoH$ S> dmh {ddaU V `ma H$s{OE : AemoH$ {b{_Q>oS> 31 _mM , 2019 H$mo p W{V {ddaU ZmoQ> 31.3.2019 31.3.2018 {ddaU < < g . I g_Vm Ed Xo`VmE : 1. A eYmar$ {Z{Y`m : (A) A e ny Or 19,00,000 11,00,000 (~) g M` Ed Am{Y ` 1 1,60,000 2,00,000 2. AMb Xo`VmE : XrK H$mbrZ CYma 2 1,00,000 4,00,000 3. Mmby Xo`VmE : (A) A nH$mbrZ CYma 3 2,50,000 2,30,000 (~) A nH$mbrZ mdYmZ 4 1,90,000 2,70,000 Hw$b 26,00,000 22,00,000 II 1. 2. n[ag n{ m`m : AMb n[ag n{ m`m : Wm`r n[ag n{ m`m : (i) _yV n[ag n{ m`m (ii) A_yV n[ag n{ m`m Mmby n[ag n{ m`m : (A) Mmby {Zdoe (~) `mnm[aH$ m ` (g) amoH$ S> Ed amoH$ S> Vw ` Hw$b .67/3/1 32 5 15,00,000 11,00,000 6 2,80,000 1,70,000 1,30,000 2,90,000 3,90,000 4,10,000 3,00,000 2,30,000 26,00,000 22,00,000 32. There was Nil net cash flow from operating activities of Ashok Ltd. during the year ending 31st March, 2019. From the following Balance Sheet of Ashok Ltd. as at 31st March, 2019, prepare a Cash Flow Statement : Ashok Ltd. Balance Sheet as at 31st March, 2019 Note No. Particulars 31.3.2019 31.3.2018 < < I Equity and Liabilities : 1. Shareholders Funds : (a) Share Capital 19,00,000 11,00,000 (b) Reserves and Surplus 1 1,60,000 2,00,000 2 1,00,000 4,00,000 (a) Short-Term Borrowings 3 2,50,000 2,30,000 (b) Short-Term Provisions 4 1,90,000 2,70,000 2. Non-Current Liabilities : Long-term Borrowings 3. Current Liabilities : Total 26,00,000 22,00,000 II Assets : 1. Non-Current Assets : Fixed Assets : (i) Tangible Assets 5 (ii) Intangible Assets 6 15,00,000 11,00,000 2,80,000 1,70,000 (a) Current Investments 1,30,000 2,90,000 (b) Trade Receivables 3,90,000 4,10,000 (c) Cash and Cash Equivalents 3,00,000 2,30,000 2. Current Assets : Total .67/3/1 33 26,00,000 22,00,000 P.T.O. ImVm| Ho$ ZmoQ >g : ZmoQ> g . 1. 2. 3. 4. 5. 6. {ddaU g M` Ed Am{Y ` : Am{Y ` (bm^-hm{Z {ddaU H$m eof) XrK H$mbrZ CYma : 8% G$Un A nH$mbrZ CYma : ~ H$ A{Y{dH$f A nH$mbrZ mdYmZ : H$a mdYmZ 31.3.2019 31.3.2018 < < 1,60,000 2,00,000 1,00,000 4,00,000 2,50,000 2,30,000 1,90,000 2,70,000 _yV n[ag n{ m`m : g ` VWm _erZar 16,30,000 11,70,000 EH${ V (g {MV) _y ` mg (1,30,000) (70,000) 15,00,000 11,00,000 2,80,000 1,70,000 A_yV n[ag n{ m`m : `m{V A{V[a $ gyMZm : (i) < 60,000 nw VH$ _y ` H$s EH$ _erZar ({Og na < 20,000 _y ` mg bJm`m J`m Wm) H$mo < 6,000 H$s hm{Z na ~oMm J`m & (ii) 8% G$Un m| .67/3/1 H$m emoYZ 1 OwbmB , 2018 H$mo 34 {H$`m J`m & 6 Notes to Accounts : Note Particulars No. 1. 31.3.2019 31.3.2018 < < Reserves and Surplus : Surplus (Balance in the 1,60,000 2,00,000 1,00,000 4,00,000 2,50,000 2,30,000 1,90,000 2,70,000 Plant and Machinery 16,30,000 11,70,000 Accumulated Depreciation (1,30,000) (70,000) 15,00,000 11,00,000 2,80,000 1,70,000 Statement of Profit and Loss) 2. Long-term Borrowings : 8% Debentures 3. Short-term Borrowings : Bank overdraft 4. Short-term Provisions : Provision for Tax 5. 6. Tangible Assets : Intangible Assets : Goodwill Additional information : (i) A machinery of the book value of < 60,000, (depreciation provided thereon < 20,000) was sold at a loss of < 6,000. (ii) .67/3/1 8% Debentures were redeemed on 1st July, 2018. 35 6 P.T.O. 23. 24. 25. ^mJ I {dH$ n 2 (A{^H${b boIm H$Z) ImVm| Ho$ g_yhrH$aU Ho$ {bE S>oQ>m H$mo {H$Z _w ` ^mJm| _| dJuH $V {H$`m OmVm h : (A) n[ag n{ m`m , Xo`VmE d ny Or (B) n[ag n{ m`m , dm_r g_Vm, AmJ_ d IM} (C) n[ag n{ m`m , ny Or, Xo`VmE , AmJ_ d IM} (D) ny Or, AmJ_ d IM} E gob _| A1 : E2 H$m AW h : (A) E gob erQ> Ho$ H$m b_ (B) E gob erQ H$s n { $`m (C) E gob erQ Ho$ Ama {^H$ d A {V_ {~ X Am| Ho$ ~rM H$m b_ (D) E gob erQ na A go E VH$ Ho$ Aja E gog S>oQ>m AmYma (S>oQ>m~og) go EH$ C m_ d ${nV N>nmB -`mo ` S>oQ>m m H$aZo Ho$ {bE h_ `moJ H$aVo h : (A) Vm{bH$m (B) d ar (C) \$m _ (D) {VdoXZ 26. {Z Z _ o go H$m Z-gr A{^H${b boIm H$Z Umbr H$s gr_m Zht h o ? (A) {~Obr H$s ny{V _| ~mYm Ho$ H$maU S>oQ>m H$m Imo OmZm `m am~ hmo OmZm & (B) S>oQ>m _| h qH$J H$s d { m H$m hmoZm & (C) S>oQ>m H$s Cnb YVm g~Ho$ {bE Z hmoZm & (D) {~Zm moJ mq_J H$s A{Z{X Q> (un-specified) [anmoQ > g C n Zhr H$s Om gH$Vr & 27. EH$ H$mo > (gob) g X^ {Og_| n { $ AWdm H$m b_ H$mo p Wa aI H$a O~ H$moB gy AWdm \ $ eZ {H$gr A ` WmZ (location) na Xmoham`m OmVm h , Vmo Cgo H$hVo h : (A) E gmo `yQ> H$mo > g X^ (B) {d Vma (C) gmnoj H$mo > g X^ (D) {_{lV H$mo > g X^ .67/3/1 36 1 1 1 1 1 PART B OPTION 2 (Computerised Accounting) 23. 24. 25. 26. 27. The data is classified for creating groups of accounts in the heads of : (A) Assets, Liabilities and Capital (B) Assets, Owners equity, Revenue and Expenses (C) Assets, Capital, Liabilities, Revenue and Expenses (D) Capital, Revenue and Expenses 1 A1 : E2 in Excel refers to : 1 (A) Column on Excel sheet (B) Row on Excel sheet (C) Column between start and end points of Excel sheet (D) Alphabets between A to E on Excel sheet To expect a well formatted printable data from Access database, we use : (A) Table (B) Query (C) Form (D) Report 1 Which of the following is not a limitation of Computerised Accounting system ? (A) Data may be lost or corrupted due to power interruptions. (B) Data is prone to hacking. (C) Data is not made available to everybody. (D) Unprogrammed and un-specified reports cannot be generated. A cell reference that holds either row or column constant when the formula or function is copied to another location is known as : (A) Absolute cell reference (B) Ranges (C) Relative cell reference (D) Mixed cell reference .67/3/1 37 1 1 P.T.O. 28. 29. 30. 31. 32. A{^H${b boIm H$Z Umbr _| (i) ___________ H$mo BZnwQ> _mZm OmVm h {Ogo [anmoQ> ~ZmZo Ho$ {bE (ii) ___________ Ho$ _m `_ go H ${_V {H$`m OmVm h & 1 EH$ Eogm H$moS> {Og_| Aja `m g {j Zm_, H$m `moJ EH$ gyMZm Ho$ ^mJ H$mo gm Ho${VH$ e Xm| _| {M{ V H$aZo Ho$ {bE {H$`m OmVm h ___________ H$moS> H$hbmVm h & 1 Zb d `y O VWm H$m nb g EQ >r `yQ >g H$mo g_PmBE & AWdm Q> br gm Q>do`a _| {d{ Q> H$aZo Ho$ {bE `moJ {H$E OmZo dmbo {H$ ht Xmo H$ma Ho$ _mUH$m| (dmCMg ) H$s CXmhaUm| H$s ghm`Vm go `m `m H$s{OE & 3 boIm H$Z gyMZm Umbr H$s {H$ ht Xmo Cn- Um{b`m| H$mo g_PmBE & AWdm J m \$ H$m `m AW h ? BgHo$ {H$ ht VrZ bm^m| H$mo g_PmBE & 4 E.Ama. Egmo{gEQ >g {b{_Q>oS> Ho$ H$m`m b` _w ~B d dS>moXam _| p WV h & _w ~B Ho$ {bE _H$mZ {H$am`m ^ mm (HRA ) < 10,000 h Am a dS>moXam Ho$ {bE `h < 8,000 h & _h JmB ^ mo H$s JUZm _yb doVZ (BP) Ho$ AmYma na H$s OmVr h & `{X _yb doVZ < 14,000 h , Vmo$15%, Am a `{X _yb doVZ < 15,000 h , Vmo 10% & _mZH$ {Xdg 30 {XZ {V _hrZm _mZo OmVo h & \$m_y bm ~VmVo h E {Z Z H$_ Mm[a`m| Ho$ {bE gH$b doVZ H$s JUZm E gob Ho$ gy m| Ho$ AZwgma H$s{OE : (i) ZraOm _w ~B H$m`m b` _| H$m` aV h & CgH$m _yb doVZ < 30,000 h & CgZo {~Zm doVZ Ho$ 5 {XZ H$m AdH$me {b`m h & (ii) _ZZ dS>moXam H$m`m b` _| H$m` aV h & CgH$m _yb doVZ < 14,000 h & CgZo {~Zm doVZ Ho$ {H$gr H$ma H$m AdH$me Zht {b`m h & .67/3/1 38 3 4 6 28. 29. 30. Computerised Accounting system takes (i) ___________ as inputs which are processed through (ii) ___________ to generate reports. 1 A code which consists of alphabet or abreviation as symbol to codify a piece of information is known as ___________ . 1 Explain Null Values and Complex Attributes . 3 OR Explain any two types of vouchers used for entry in Tally software with 31. the help of examples. 3 Explain any two subsystems of accounting information system. 4 OR What is meant by a graph ? Explain any three of its advantages. 32. 4 A.R. Associates Ltd. have their offices in Mumbai and Vadodara. HRA for Mumbai is < 10,000 and Vadodara is < 8,000. DA is calculated on Basic Pay (BP) as 15% for BP < 14,000 and 10% for BP < 15,000. Standard number of days are taken as 30 days per month. Give the formulae and calculate the amount of Gross Salary using Excel for the following employees : (i) Neerja is working in Mumbai office. Her Basic Pay is < 30,000. She availed leave without pay for 5 days. (ii) Manan is working in Vadodara office. His Basic Pay is < 14,000. He did not avail any leave without pay. .67/3/1 39 6 P.T.O.

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