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CBSE Class 12 Board Exam 2020 : Accountancy (Series 1)

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H$moS> Z . Code No. 67/1/1 narjmWu H$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 > 31 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 31 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 .67/1/1 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 & 1. 2. ^mJ> H$ (Abm^H$mar g JR>Zm|, gmPoXmar \$_m] VWm H$ n{Z`m| Ho$ {bE boIm H$Z) `{X gmPoXmam| Ho$ ny Or ImVo Wm`r h , Vmo ny Or AmhaU H$m boIm {H$g ImVo _| {H$`m OmEJm ? _ram, _m`am VWm Zram gmPoXma Wt VWm 2 : 2 : 1 Ho$ AZwnmV _o| bm^ ~m Q>Vr Wt & 1 A b, 2019 go C hm|Zo ^{d ` Ho$ bm^ >7 : 5 : 3 Ho$ AZwnmV _o| ~m Q>Zo H$m {ZU ` {b`m & Cg {V{W H$mo CZHo$ p W{V {ddaU _| {dkmnZ CM Vr ImVm < 45,000 H$m eof Xem ahm Wm & {dkmnZ CM Vr ImVo H$s am{e H$mo An{b{IV H$aZo Ho$ {bE _ram, _m`am VWm Zram Ho$ ny Or ImVm| Ho$ O_m nj _| IVm Zr H$s OmZo dmbr am{e H $_e: hmoJr : (A) < 18,000, < 18,000 VWm < 9,000 (B) < 15,000, < 15,000 VWm < 15,000 (C) < 21,000, < 15,000 VWm < 9,000 (D) < 22,500, < 22,500 VWm ey ` .67/1/1 2 1 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. In case the partners capitals are fixed, in which account will withdrawal of capital be recorded ? 1 2. Meera, Myra and Neera were partners sharing profits in the ratio of 2 : 2 : 1. They decided to share future profits in the ratio of 7 : 5 : 3 with effect from 1st April, 2019. Their Balance Sheet as on that date showed a balance of < 45,000 in Advertisement Suspense Account. The amount to be debited respectively to the capital accounts of Meera, Myra and Neera for writing off the amount in Advertisement Suspense Account will be : 1 (A) < 18,000, < 18,000 and < 9,000 (B) < 15,000, < 15,000 and < 15,000 (C) < 21,000, < 15,000 and < 9,000 (D) < 22,500, < 22,500 and Nil .67/1/1 3 P.T.O. 3. 4. 5. 6. 7. _moZm VWm Q>rZm EH$ \$_ H$s gmPoXma Wt VWm 3 : 2 Ho$ AZwnmV _| bm^ ~m Q>Vr Wr & Z Zm H$mo \$_ Ho$ bm^m| _| 1 d| ^mJ Ho$ {bE doe {X`m J`m & doe Ho$ g_`, \$_ Ho$ p W{V 6 {ddaU _| H$m_Jma j{Vny{V g M` < 32,000 H$m eof Xem ahm Wm & H$m_Jma j{Vny{V H$m Xmdm < 40,000 {ZYm [aV {H$`m J`m & g M` go Xmdo Ho$ Am{Y ` H$s IVm Zr : (A) nwZ_y `m H$Z ImVo Ho$ O_m nj _| H$s OmEJr & (B) nwZ_y `m H$Z ImVo Ho$ Zm_ nj _| H$s OmEJr & (C) nwamZo gmPoXmam| Ho$ ny Or ImVm| Ho$ O_m nj _| H$s OmEJr & (D) nwamZo gmPoXmam| Ho$ ny Or ImVm| Ho$ Zm_ nj _| H$s OmEJr & 1 {X`m, [a`m VWm {V`m gmPoXma Wt VWm 2 : 3 : 5 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vr Wt & 28 Zd ~a, 2019 H$mo {V`m H$s _ `w hmo JB & bm^ _| CgHo$ ^mJ H$mo {X`m VWm [a`m Zo ~am~a-~am~a bo {b`m & ZB \$_ _| {X`m Ho$ bm^ H$m ^mJ _________ hmoJm & 1 E g VWm dmB EH$ \$_ Ho$ gmPoXma Wo VWm 7 : 3 Ho$ AZwnmV _oo bm^ ~m Q>Vo Wo & O S> H$mo bm^m| _| 1 d| ^mJ Ho$ {bE doe {X`m J`m Omo CgZo 75% E g go VWm eof dmB go m 5 {H$`m & E g VWm dmB H$m `mJ AZwnmV kmV H$s{OE & 1 EH$ Eogr _X H$m Zm_ ~VmBE {Ogo m{ Ed ^wJVmZ ImVo Ho$ ^wJVmZ nj _ o H$^r ^r Xem `m Zht OmVm, na Vw Am` Ed `` ImVo Ho$ Zm_ nj _ o Xem `m OmVm h & 1 H$, I VWm J EH$ \$_ Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & J Zo AdH$me J hU {H$`m VWm g M`m|, EH${ V bm^m|/hm{Z`m| VWm nwZ_y `m H$Z na CgHo$ ^mJ Ho$ g_m`moOZm| Ho$ n MmV CgHo$ ny Or ImVo H$m eof < 2,50,000 Wm & `m{V _| CgHo$ ^mJ H$mo gp _{bV H$aHo$ J H$mo < 3,22,000 H$m ^wJVmZ {H$`m J`m & J Ho$ AdH$me J hU H$aZo na CgHo$ ny Or ImVo Ho$ O_m nj _| {bIr OmZo dmbr `m{V H$s am{e hmoJr : 1 (A) < 72,000 (B) < 7,200 (C) < 24,000 (D) < 36,000 .67/1/1 4 3. Mona and Tina were partners in a firm sharing profits in the ratio of 1 3 : 2. Naina was admitted with th share in the profits of the firm. At 6 the time of admission, Workmen s Compensation Reserve appeared in the Balance Sheet of the firm at < 32,000. The claim on account of workmen s compensation was determined at < 40,000. Excess of claim over the reserve will be : 4. 5. 6. 7. 1 (A) Credited to Revaluation Account. (B) Debited to Revaluation Account. (C) Credited to old partner s Capital Account. (D) Debited to old partner s Capital Account. Diya, Riya and Tiya were partners sharing profits and losses in the ratio of 2 : 3 : 5. Tiya died on 28th November, 2019. Her share of profit was taken equally by Diya and Riya. Diya s share of profit in the new firm will be _________ . 1 X and Y were partners in a firm sharing profits in the ratio of 7 : 3. Z was 1 admitted for th share in the profits which he took 75% from X and 5 remaining from Y. Calculate the sacrificing ratio of X and Y. 1 Name an item that is never shown on the payment side of Receipts and Payments Account, but is shown on the debit side of the Income and Expenditure Account. 1 A, B and C were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. C retired and his capital balance after adjustments regarding reserves, accumulated profits/losses and his share of gain on revaluation was < 2,50,000. C was paid < 3,22,000 including his share of goodwill. The amount credited to C s capital account, on his retirement, for goodwill will be : 1 (A) < 72,000 (B) < 7,200 (C) < 24,000 (D) < 36,000 .67/1/1 5 P.T.O. 8. 9. amh b, gm{hb VWm O{VZ EH$ \$_ Ho$ gmPoXma Wo VWm 4 : 3 : 2 Ho$ AZwnmV _o| bm^-hm{Z ~m Q>Vo Wo & 15 A Qy>~a, 2017 H$mo amh b H$s _ `w hmo JB & Cg g_` g^r g_m`moOZm| Ho$ n MmV gm{hb VWm O{VZ H$s ny {O`m H $_e: < 3,56,000 VWm < 2,44,000 Wt & Mmby ImVo ImobH$a gm{hb VWm O{VZ Zo AnZr ny {O`m| H$mo ZE bm^ {d^mOZ AZwnmV Ho$ AZwgma g_m`mo{OV H$aZo H$m {ZU ` {b`m & gm{hb VWm O{VZ H$s ZB ny {O`m| H$s JUZm H$s{OE & 1 gZ VWm Q>ma EH$ \$_ Ho$ gmPoXma Wo VWm 2 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & _yZ H$mo \$_ _| EH$ ZE gmPoXma Ho$ $n _| doe {X`m J`m & Z`m bm^ {d^mOZ AZwnmV 3 : 3 : 2 Wm & _yZ AnZr `m{V Ho$ ^mJ VWm AnZr ny Or Ho$ {bE {Z Z n[ag n{ m`m bm`m : < _erZar \$ZuMa Q>m H$ ZJX 2,00,000 1,20,000 80,000 50,000 `{X CgH$s ny Or < 3,80,000 _mZ br OmE, Vmo \$_ H$s `m{V hmoJr (A) (B) (C) (D) 10. : 1 < 70,000 < 2,80,000 < 4,50,000 < 1,40,000 amohZ, _mohZ VWm gmohZ gmPoXma Wo VWm bm^ ~am~a-~am~a ~m Q>Vo Wo & gmPoXmar \$_ Ho$ {dKQ>Z Ho$ g_`, amohZ mam \$_ H$mo {XE JE G$U H$s IVm Zr : (A) amohZ Ho$ ny Or ImVo Ho$ O_m nj _| H$s OmEJr & (B) dgybr ImVo Ho$ Zm_ nj _| H$s OmEJr & (C) dgybr ImVo Ho$ O_m nj _| H$s OmEJr & (D) ~ H$ ImVo Ho$ O_m nj _| H$s OmEJr & 11. EH$ G$Un Ho$ A {H$V _y ` na CgHo$ {ZJ {_V _y ` H$m Am{Y ` 12. {Z Z _ | go H$m Z-gm H$WZ g {MV ny Or go g ~p YV Zht h : (A) `h EH$ H$ nZr H$s A`m{MV ny Or H$m ^mJ h & (B) BgH$m Cn`moJ H$ nZr Ho$ OrdZH$mb _| Zht {H$`m Om gH$Vm h & (C) BgH$m Cn`moJ ny OrJV hm{Z`m| H$mo An{b{IV H$aZo Ho$ {bE {H$`m Om gH$Vm h & (D) `h A{^X m ny Or H$m ^mJ h & .67/1/1 6 _______ H$hbmVm h & 1 1 1 8. 9. Rahul, Sahil and Jatin were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 2. Rahul died on 15th October, 2017. At that time, the capitals of Sahil and Jatin after all the adjustments were < 3,56,000 and < 2,44,000 respectively. Sahil and Jatin decided to adjust their capital according to their new profit sharing ratio by opening current accounts. Calculate the new capitals of Sahil and Jatin. 1 Sun and Star were partners in a firm sharing profits in the ratio of 2 : 1. Moon was admitted as a new partner in the firm. New profit sharing ratio was 3 : 3 : 2. Moon brought the following assets towards his share of goodwill and his capital : < Machinery 2,00,000 Furniture 1,20,000 Stock 80,000 Cash 50,000 If his capital is considered as < 3,80,000, the goodwill of the firm will be : (A) < 70,000 (B) (C) (D) 10. 1 < 2,80,000 < 4,50,000 < 1,40,000 Rohan, Mohan and Sohan were partners sharing profits equally. At the time of dissolution of the partnership firm, Rohan s loan to the firm will be : (A) (B) Credited to Rohan s Capital Account. Debited to Realisation Account. (C) (D) Credited to Realisation Account. Credited to Bank Account. 1 11. Excess of issue price of a debenture over its face value is called ________ . 1 12. Which of the following statements does not relate to Reserve Capital : 1 (A) It is part of uncalled capital of a company. (B) It cannot be used during the lifetime of a company. (C) It can be used for writing off capital losses. (D) It is part of subscribed capital. .67/1/1 7 P.T.O. 13. 14. Eogr {H$gr EH$ _X H$m Zm_ ~VmBE {OgH$m WmZm VaU EH$ gmPoXmar \$_ Ho$ {dKQ>Z Ho$ g_` dgybr ImVo Ho$ O_m nj _| {H$`m OmVm h , na Vw CgHo$ {bE H$moB ZJX ^wJVmZ Zht {H$`m OmVm & EH$ IobHy$X b~ Ho$ {d mr` {ddaUm| H$mo V `ma H$aVo g_` {Z Z _Xm| H$m boIm H $go {H$`m OmEJm ? am{e {ddaU < 44,000 nwa H$ma {Z{Y 6,000 nwa H$ma {Z{Y {Zdoem| na `mO 46,000 {XE JE nwa H$ma 64,000 _ M `` 44,000 nwa H$ma {Z{Y {Zdoe AWdm EH$ Y_m W Am fYmb` go g ~p YV {Z Z gyMZm go 31 _mM , 2019 H$mo g_m hwE df Ho$ {bE Am` Ed `` ImVo _| Xem B OmZo dmbr df Ho$ Xm amZ Cn^moJ H$s JB XdmB`m| H$s am{e H$s JUZm H$s{OE : am{e {ddaU 1 3 3 < 1.4.2018 H$mo XdmB`m| H$m Q>m H$ 1.4.2018 H$mo XdmB`m| Ho$ boZXma 31.3.2019 H$mo XdmB`m| H$m Q>m H$ 31.3.2019 H$mo XdmB`m| Ho$ boZXma 31.3.2019 H$mo XdmB`m| Ho$ {bE A{J _ df Ho$ Xm amZ XdmB`m| H$m CYma H $` df Ho$ Xm amZ XdmB`m| H$m ZJX H $` 15. 60,000 40,000 10,000 25,000 22,000 2,76,000 46,500 am_, _mohZ VWm gmohZ gmPoXma Wo VWm 2 : 1 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & am_ Zo `oH$ _mh < 3,000 H$m AmhaU {H$`m VWm _mohZ Zo `oH$ _mh < 4,000 H$m AmhaU {H$`m & AmhaU na 6% dm{f H$ Xa go `mO bJm`m J`m, O~{H$ gmPoXmar g boI _| AmhaU na `mO Ho$ {bE H$moB mdYmZ Zht Wm & AnZo H$m` H$mo n > Xem Vo h E w{Q> H$s ew{ Ho$ {bE Amd `H$ g_m`moOZ {d{ > H$s{OE & AWdm .67/1/1 8 4 13. 14. Name an item which is transferred to credit side of Realisation Account at the time of dissolution of partnership firm, but does not involve cash payment. How would the following items be treated while preparing the financial statements of a sports club ? 1 3 Amount Particulars < Prize Fund 44,000 Interest on Prize Fund Investments 6,000 Prizes Awarded 46,000 Match Expenses 64,000 Prize Fund Investments 44,000 OR From the following information of a charitable dispensary, calculate the amount of medicines consumed during the year that would appear in the Income and Expenditure Account for the year ending 31st March, 2019 : Particulars < 60,000 Creditors for medicines 1.4.2018 40,000 Stock of medicines 31.3.2019 10,000 Creditors for medicines 31.3.2019 25,000 Advances for medicines 31.3.2019 22,000 Cash purchases of medicines during the year 15. Amount Stock of medicines on 1.4.2018 Credit purchases of medicines during the year 2,76,000 46,500 Ram, Mohan and Sohan were partners sharing profits in the ratio of 2 : 1 : 1. Ram withdrew < 3,000 every month and Mohan withdrew < 4,000 every month. Interest on drawings @ 6% p.a. was charged, whereas the partnership deed was silent about interest on drawings. Showing your working clearly, pass the necessary adjustment entry to rectify the error. OR .67/1/1 9 3 4 P.T.O. 16. 17. `X , {dX VWm amYy EH$ \$_ Ho$ gmPoXma Wo VWm 4 : 3 : 3 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 1 A b, 2018 H$mo CZH$s Wm`r ny Or H $_e: < 9,00,000, < 5,00,000 VWm < 4,00,000 Wr & 1 Zd ~a, 2018 H$mo `X Zo \$_ H$mo < 80,000 H$m G$U {X`m & gmPoXmar g_Pm Vo Ho$ AZwgma : (i) gmPoXmam| H$mo ny Or na 6% dm{f H$ Xa go `mO Xo` Wm & (ii) gmPoXmam| Ho$ AmhaU na 8% dm{f H$ Xa go `mO bJmZm Wm & df 2018 19 Ho$ Xm amZ \$_ Zo < 2,53,000 H$m bm^ (`X Ho$ G$U na `mO Ho$ n MmV ) A{O V {H$`m & df ^a _| gmPoXmam| Ho$ AmhaU H$s am{e `X : < 80,000, {dX : < 70,000 VWm amYy : < 50,000 Wr & 31 _mM , 2019 H$mo g_m h E df Ho$ {bE bm^-hm{Z {d{Z`moOZ ImVm V `ma H$s{OE & 4 \w$aH$m, VZ_` VWm ~aH$V EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & \$_ `oH$ df 31 _mM H$mo AnZo ImVo ~ X H$aVr Wr & 31 OwbmB , 2019 H$mo VZ_` H$s _ `w hmo JB & CgHo$ {Z nmXH$ H$mo {Z Z Xo` Wm : (i) CgH$s ny Or < 8,00,000 VWm `m{V _| CgH$m ^mJ & \$_ H$s `m{V H$m _y `m H$Z < 96,000 {H$`m J`m & (ii) gmPoXmar g_Pm Vo Ho$ AZwgma bm^ _| CgH$m ^mJ {OgH$s JUZm {nN>bo 3 dfm] Ho$ Am gV bm^ Ho$ AmYma na H$s OmEJr & {nN>bo 3 dfm] H$m Am gV bm^ < 78,000 Wm & (iii) CgH$s _ `w Ho$ g_` VZ_` Ho$ {Z nmXH$m| H$mo M H$ mam < 95,000 H$m ^wJVmZ {H$`m J`m VWm eof H$m WmZm VaU CgHo$ {Z nmXH$ Ho$ G$U ImVo _| H$a {X`m J`m & VZ_` H$s _ `w na \$_ H$s nw VH$m| _| Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & 4 amo{ZV Q>mB g {b{_Q>oS> < 100 `oH$ Ho$ g_Vm A em| _ o {d^ $ < 85,00,000 H$s ny Or go n OrH $V Wr & H$ nZr Zo 45,000 A em| Ho$ {ZJ _Z Ho$ {bE AmdoXZ Am_p V {H$E & am{e {Z Z H$ma go Xo` Wr : AmdoXZ na < 25, Am~ Q>Z na < 35, W_ `mMZm na < 25 VWm Ap V_ `mMZm na eof am{e & 42,000 A em| Ho$ {bE AmdoXZ m h E VWm g^r AmdoXH$m| H$mo A em| H$m Am~ Q>Z H$a {X`m J`m & H${d, {Ogo 3,300 A em| H$m Am~ Q>Z {H$`m J`m Wm, XmoZm| `mMZmAm| H$m ^wJVmZ H$aZo _| Ag\$b ahm & CgHo$ A em| H$m haU H$a {b`m J`m & H$ nZr A{Y{Z`_, 2013 H$mo AZwgyMr III Ho$ AZwgma H$ nZr H$s A e ny Or H$mo H$ nZr Ho$ p W{V {ddaU _| X{e V H$s{OE & 4 .67/1/1 10 Yadu, Vidu and Radhu were partners in a firm sharing profits in the ratio of 4 : 3 : 3. Their fixed capitals on 1st April, 2018 were < 9,00,000, < 5,00,000 and < 4,00,000 respectively. On 1st November, 2018, Yadu gave a loan of < 80,000 to the firm. As per the partnership agreement : (i) The partners were entitled to an interest on capital @ 6% p.a. (ii) Interest on partners drawings was to be charged @ 8% p.a. The firm earned profits of < 2,53,000 (after interest on Yadu s loan) during the year 2018 19. Partners drawings for the year amounted to Yadu : < 80,000, Vidu : < 70,000 and Radhu : < 50,000. Prepare Profit and Loss Appropriation Account for the year ending 31st March, 2019. 16. 4 Furkan, Tanmay and Barkat were partners in a firm sharing profits in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. Tanmay died on 31st July, 2019. His executor was entitled to : (i) His capital < 8,00,000 and his share of goodwill which was valued for the firm at < 96,000. (ii) His share of profit as per partnership agreement, which was to be calculated on the basis of average profit of last 3 years. Average profits of the last 3 years were < 78,000. (iii) 17. Tanmay s executors were paid < 95,000 by cheque at the time of his death and the balance was transferred to his executor s loan account. Pass the necessary journal entries in the books of the firm, on Tanmay s death, for the above transactions. 4 Raunit Styles Ltd. was registered with a capital of < 85,00,000 divided into equity shares of < 100 each. The company invited applications for issuing 45,000 shares. The amount was payable as < 25 on application, < 35 on allotment, < 25 on first call and balance on final call. Applications were received for 42,000 shares and allotment was made to all the applicants. Kavi, to whom 3,300 shares were alloted, failed to pay both the calls. His shares were forfeited. Present the Share Capital in the Balance Sheet of the company as per Schedule III of the Companies Act, 2013. 4 .67/1/1 11 P.T.O. 18. {d{^ 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 Q>moZr VWm amoZr H$s gmPoXmar \$_ Ho$ {dKQ>Z na {Z Z boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE : (i) < 6,000 H$s EH$ Xo`Vm Ho$ nyU {ZnQ>mZ Ho$ {bE < 2,000 H$s EH$ A{b{IV n[ag n{ m VWm < 3,000 H$m ZJX ^wJVmZ {H$`m J`m & (ii) < 10 `oH$ Ho$ 100 A em| H$mo, gmPoXmam| Zo 3 : 2 Ho$ AnZo bm^ {d^mOZ AZwnmV _| < 20 {V A e Ho$ ~m Oma _y ` na bo {b`m & (iii) < 40,000 H$mo EH$ boZXma Zo nyU {ZnQ>mZ na < 30,000 Ho$ Q>m H$ H$mo 30% Ho$ ~ >o na bo {b`m & (iv) < 4,000 Ho$ dgybr ``m| H$m dhZ amoZr H$mo H$aZm Wm & amoZr Zo BZ ``m| H$m 4 ^wJVmZ H$aZo hoVw \$_ H$s amoH$ S> H$m Cn`moJ {H$`m & 19. 31 _mM , 2019 H$mo g_m h E df Ho$ {bE S>r b~ Ho$ {Z Z{b{IV m{ Ed ^wJVmZ ImVo VWm A{V[a $ gyMZm go 31 _mM , 2019 H$mo g_m h E df Ho$ {bE Am` Ed `` ImVm V `ma H$s{OE : 31 _mM , 2019 H$mo m{ `m g_m h E df Ho$ {bE S>r b~ H$m m{ Ed ^wJVmZ ImVm am{e am{e ^wJVmZ < < 2,000 eof ZrMo bmE M Xm : 2017 18 1,200 2018 19 49,200 2019 20 2,300 nwamZo \$ZuMa H$m {dH $` (nw VH$ _y ` < 800) nwa H$mam| Ho$ {bE XmZ {Zdoe na `mO 52,700 42,500 21,500 15,000 3,000 16,850 500 43,000 650 98,850 .67/1/1 doVZ q qQ>J VWm Q>oeZar \$ZuMa (1.10.2018) 9% {Zdoe eof ZrMo bo JE 12 98,850 18. Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Tony and Rony after the various assets (other than cash) and external liabilities have been transferred to Realization Account : 19. (i) An unrecorded asset of < 2,000 and cash < 3,000 was paid for liability of < 6,000 in full settlement. (ii) 100 shares of < 10 each have been taken over by partners at market value of < 20 per share in their profit sharing ratio, which is 3 : 2. (iii) Stock of < 30,000 was taken over by a creditor of < 40,000 at a discount of 30% in full settlement. (iv) Expenses of realisation < 4,000 were to be borne by Rony. Rony used the firm s cash for paying these expenses. 4 From the following Receipts and Payments Account of Dee Club for the year ending 31st March, 2019 and additional information, prepare an Income and Expenditure Account for the year ending 31st March, 2019 : Receipts and Payments Account of Dee Club for the year ending 31st March, 2019 Amount Receipts < To Balance b/d 2,000 By Salaries To Subscription : 2017 18 1,200 2018 19 49,200 2019 20 2,300 To Sale of old furniture (Book value < 800) To Donation for prizes To Interest on Investment Amount < 42,500 By Printing and Stationery 21,500 By Furniture (1.10.2018) 15,000 By 9% Investments 52,700 By Balance c/d 3,000 16,850 500 43,000 650 98,850 .67/1/1 Payments 13 98,850 P.T.O. (i) (ii) (iii) (iv) 20. b~ Ho$ 400 gX ` Wo, `oH$ gX ` < 150 dm{f H$ M Xo H$m ^wJVmZ H$aVm Wm & ^wJVmZ {H$E JE doVZ _| df 2017 18 Ho$ {bE < 3,150 gp _{bV Wo VWm df 2018 19 H$m AX m doVZ < 4,250 Wm & 30 Zd ~a, 2018 H$mo 9% {Zdoe {H$`m J`m & df Ho$ ma ^ _| b~ Ho$ nmg Bgr H$ma Ho$ < 8,000 Ho$ {Zdoe Wo & \$ZuMa na 10% dm{f H$ Xa go _y ` mg bJmBE & {dH $` {H$E JE \$ZuMa na H$moB _y ` mg Zht bJmZm h & 6 (i) dmB {b{_Q>oS> Zo B .E g. {b{_Q>oS> H$s {Z Z n[ag n{ m`m| H$m H $` {H$`m : < 60,00,000 H$s ^y{_ VWm ^dZ H$mo < 84,00,000 _|; < 40,00,000 Ho$ g ` VWm _erZar H$mo < 36,00,000 _| & H $` {V\$b < 1,10,00,000 Wm & B .E g. {b{_Q>oS> Ho$ nj _| < 20,00,000 H$m EH$ {d{Z_` n drH$ma H$aHo$ VWm eof H$m < 100 `oH$ Ho$ 8% G$Un m| H$mo 20% Ho$ r{_`_ na {ZJ {_V H$aHo$ ^wJVmZ {H$`m J`m & dmB {b{_Q>oS> H$s nw VH$m| _| Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & (ii) O S> {b{_Q>oS> Zo < 100 `oH$ Ho$ 2,00,000, 8% G$Un m| H$m {ZJ _Z 6% Ho$ ~ >o na {H$`m & BZ G$Un m| H$m emoYZ 5 df n MmV 10% r{_`_ na {H$`m OmZm Wm & am{e H$m ^wJVmZ {Z Z H$ma go Xo` Wm : AmdoXZ na < 50 {V G$Un VWm Am~ Q>Z na eof O S> {b{_Q>oS> H$s nw VH$m| _ o G$Un m| Ho$ {ZJ _Z Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & 3+3 AWdm _hoe {b{_Q>oS> Zo < 100 `oH$ Ho$ 20,000, 10% G$Un m| H$m {ZJ _Z {H$`m & 31 _mM , 2019 H$mo 8,000, 10% G$Un m| H$m emoYZ Xo` Wm & 31 _mM , 2018 H$mo H$ nZr Ho$ nmg G$Un emoYZ g M` ImVo _| < 4,40,000 H$m eof Wm & 1 A b, 2018 H$mo H$ nZr Zo G$Un emoYZ {Zdoe _| Amd `H$ am{e H$m {Zdoe {H$`m & G$Un m| Ho$ emoYZ Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & G$Un m| na `mO H$s {d{ >`m Zht H$aZr h & 6 .67/1/1 14 20. (i) The club has 400 members, each paying an annual subscription of < 150. (ii) Salaries paid included < 3,150 for the year 2017 18 and outstanding salaries for the year 2018 19 were < 4,250. (iii) 9% investments were made on 30th November, 2018. The club had a similar investment of < 8,000 at the beginning of the year. (iv) Depreciate furniture @ 10% p.a. No depreciation is charged on the furniture sold. (i) 6 Vayee Ltd. purchased the following assets of E.X. Ltd. : Land and Building of < 60,00,000 at < 84,00,000; Plant and Machinery of < 40,00,000 at < 36,00,000. The purchase consideration was < 1,10,00,000. Payment was made by accepting a Bill of Exchange in favour of E.X. Ltd. of < 20,00,000 and remaining by issue of 8% debentures of < 100 each at a premium of 20%. Record the necessary journal entries for the above transactions in the books of Vayee Ltd. (ii) Zed Ltd. issued 2,00,000, 8% debentures of < 100 each at a discount of 6% redeemable at a premium of 10% after 5 years. The amount was payable as follows : On application < 50 per debenture and On allotment balance Record the necessary journal entries for the issue of debentures in the books of Zed Ltd. 3+3 OR Mahesh Ltd. had issued 20,000, 10% debentures of < 100 each. 8,000, 10% debentures were due for redemption on 31st March, 2019. The company had a balance of < 4,40,000 in the Debenture Redemption Reserve Account on 31st March, 2018. The company invested the required amount in the Debenture Redemption Investment on 1st April, 2018. Pass the necessary journal entries for redemption of debentures. Ignore the entries for interest on debentures. .67/1/1 15 6 P.T.O. 21. ~mXb VWm {~Obr EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _o| bm^ ~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 ~mXb VWm {~Obr H$m p W{V {ddaU am{e Xo`VmE n[ag n{ m`m < ny Or : ^dZ < 1,50,000 {Zdoe 73,000 2,40,000 Q>m H$ 43,000 ~mXb H$m Mmby ImVm 12,000 XoZXma 20,000 {Zdoe KQ>V-~ T>V g M` 24,000 ZJX 22,000 ~mXb {~Obr 1,50,000 am{e 90,000 8,000 Xo` {~b {~Obr H$m Mmby ImVm 2,000 26,000 boZXma 3,10,000 Cn`w $ {V{W H$mo \$_ Ho$ bm^m| _| 1 d| 6 3,10,000 ^mJ Ho$ {bE a Zm H$mo EH$ ZE gmPoXma Ho$ $n _| doe {X`m J`m & g_Pm Vo H$s eV] {Z Z H$ma go Wt : (i) a Zm AnZr ny Or Ho$ {bE < 40,000 bmEJr Am a ~mXb VWm {~Obr H$s ny {O`m| H$m g_m`moOZ a Zm H$s ny Or Ho$ AmYma na Mmby ImVo ImobH$a {H$`m OmEJm & (ii) a Zm `m{V r{_`_ H$s AnZr am{e < 12,000 ZJX bmEJr & (iii) ^dZ H$m _y `m H$Z < 15,000 VWm Q>m H$ H$m < 3,000 A{YH$ {H$`m J`m & (iv) Sy>~V G$Um| Ho$ {bE XoZXmam| na 10% H$m mdYmZ H$aZm Wm & nwZ_y `m H$Z ImVm VWm ~mXb, {~Obr Ed a Zm Ho$ Mmby ImVo VWm ny Or ImVo V `ma H$s{OE & AWdm .67/1/1 16 8 21. Badal and Bijli were partners in a firm sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2019 was as follows : Balance Sheet of Badal and Bijli as at 31st March, 2019 Amount Liabilities < Capitals : Assets Building Badal 1,50,000 Bijli 90,000 Investments 2,40,000 Stock Amount < 1,50,000 73,000 43,000 Badal s Current A/c 12,000 Debtors 20,000 Investment Fluctuation Reserve 24,000 Cash 22,000 Bills Payable Creditors 8,000 Bijli s Current A/c 2,000 26,000 3,10,000 3,10,000 1 th share in 6 the profits of the firm. The terms of agreement were as follows : Raina was admitted on the above date as a new partner for (i) Raina will bring < 40,000 as her capital and capitals of Badal and Bijli will be adjusted on the basis of Raina s capital by opening current accounts. (ii) Raina will bring her share of goodwill premium for < 12,000 in cash. (iii) The building was overvalued by < 15,000 and stock by < 3,000. (iv) A provision of 10% was to be created on debtors for bad debts. Prepare the Revaluation Account and Current and Capital Accounts of Badal, Bijli and Raina. 8 OR .67/1/1 17 P.T.O. o_, Hw$_ma VWm AmaVr gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _o| bm^ ~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 o_, Hw$_ma VWm AmaVr H$m p W{V {ddaU am{e Xo`VmE n[ag n{ m`m < ny Or : am{e < ^dZ 25,000 o_ 30,000 g ` Ed _erZar 15,000 Hw$_ma 20,000 {Zdoe 10,000 AmaVr 20,000 70,000 XoZXma 10,000 gm_m ` g M` 8,000 Q>m H$ 5,000 {Zdoe CVma-M T>md g M` 2,000 ZJX 25,000 {d{dY boZXma 10,000 90,000 90,000 Cn`w $ {V{W H$mo Hw$_ma Zo AdH$me J hU {H$`m & AdH$me J hU H$s eV] {Z Z Wr : (i) Hw$_ma Zo `m{V Ho$ AnZo ^mJ H$m {dH $` < 8,000 _| o_ H$mo VWm < 4,000 _| AmaVr H$mo {H$`m & (ii) Q>m H$ H$m _y ` < 1,000 VWm ^dZ H$m < 7,000 H$_ nm`m J`m & (iii) {Zdoem| H$mo < 11,000 _| ~oM {X`m J`m & (iv) < 7,000 H$m EH$ A{b{IV boZXma Wm & (v) Hw$_ma H$mo < 30,000 H$m ZJX ^wJVmZ {H$`m J`m {Ogo o_ VWm AmaVr 2 : 1 Ho$ AZwnmV _| bmE & Hw$_ma H$s eof am{e H$m {ZnQ>mZ Hw$_ma Ho$ nj _| Xo` EH$ {d{Z_` n H$mo drH$ma H$aHo$ {H$`m J`m & nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm nwZJ {R>V \$_ H$m p W{V {ddaU V `ma H$s{OE & .67/1/1 18 8 Prem, Kumar and Aarti were partners sharing profits in the ratio of 5 : 3 : 2. Their Balance Sheet as at 31st March, 2019 was as under : Balance Sheet of Prem, Kumar and Aarti as at 31st March, 2019 Amount Liabilities Assets < Capitals : Amount < Building 25,000 Prem 30,000 Plant and Machinery 15,000 Kumar 20,000 Investment 10,000 Aarti 20,000 70,000 Debtors 10,000 General Reserve 8,000 Stock 5,000 Investment Fluctuation Reserve 2,000 Cash 25,000 Sundry Creditors 10,000 90,000 90,000 On the above date, Kumar retired. The terms of retirement were : (i) Kumar sold his share of goodwill to Prem for < 8,000 and to Aarti for < 4,000. (ii) Stock was found to be undervalued by < 1,000 and building by < 7,000. (iii) Investments were sold for < 11,000. (iv) There was an unrecorded creditor of < 7,000. (v) An amount of < 30,000 was paid to Kumar in cash which was contributed by Prem and Aarti in the ratio of 2 : 1. The balance amount of Kumar was settled by accepting a Bill of Exchange in favour of Kumar. Prepare the Revaluation Account, Capital Accounts of partners and the Balance Sheet of the reconstituted firm. .67/1/1 19 8 P.T.O. 22. (i) (ii) Ama.nr. {b{_Q>oS> Zo ahr_ Ho$ < 10 `oH$ Ho$ < 3 {V A e r{__` na {ZJ {_V {H$E JE 1,500 A em| H$m haU Am~ Q>Z VWm W_ `mMZm am{e H$m ^wJVmZ Zht H$aZo na H$a {b`m & ahr_ Zo 3,000 A em| Ho$ {bE AmdoXZ {H$`m Wm & BZ A em| na, am{e {Z Z H$ma go Xo` Wr : AmdoXZ na < 3 {V A e Am~ Q>Z na ( r{_`_ g{hV) < 5 {V A e W_ `mMZm na < 3 {V A e Ap V_ `mMZm na eof Ap V_ `mMZm am{e _m Jr Zht JB Wr & haU {H$E JE A em| _| go 1,000 A em| H$mo < 8,500 nyU X m nwZ: {ZJ {_V H$a {X`m J`m & Ama.nr. {b{_Q>oS> H$s nw VH$m| _| Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & _ g {b{_Q>oS> Zo < 100 `oH$ Ho$ 500 A em| H$m haU < 20 {V A e H$s W_ `mMZm VWm < 25 {V A e H$s A {V_ `mMZm H$m ^wJVmZ Zht H$aZo na H$a {b`m & BZ A em| _| go 250 A em| H$mo < 50 {V A e nyU X m nwZ: {ZJ {_V H$a {X`m J`m & _ g {b{_Q>oS> H$s nw VH$m| _| A em| Ho$ haU VWm nwZ:{ZJ _Z Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & A e haU ImVm ^r V `ma H$s{OE & 4+4 AWdm H$ $a {b{_Q>oS> Zo < 10 `oH$ Ho$ 2,40,000 g_Vm A em| H$mo < 4 {V A e Ho$ r{_`_ na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & am{e H$m ^wJVmZ {Z Z H$ma go {H$`m OmZm Wm : AmdoXZ na < 4 {V A e (< 2 r{_`_ g{hV) Am~ Q>Z na < 4 {V A e W_ VWm Ap V_ `mMZm na < 6 {V A e (< 2 r{_`_ g{hV) 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 m A{V[a $ am{e H$m g_m`moOZ Am~ Q>Z na Xo` am{e _| H$a {X`m J`m & g^r `mMZmE _m J br JB VWm m hmo JB Ho$db amo{hZr H$mo N>mo S>H$a, Omo AnZo Amdo{XV 7,500 A em| na Am~ Q>Z VWm W_ Ed Ap V_ `mMZm am{e H$m ^wJVmZ H$aZo _| Ag\$b ahr & BZ A em| H$m haU H$a {b`m J`m & ~mX _| haU {H$E JE A em| _| go 40% A em| H$mo < 11 {V A e nyU X m nwZ:{ZJ {_V H$a {X`m J`m & H$ $a {b{_Q>oS> H$s nw VH$m| _| Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & Ohm Amd `H$ hmo AX m `mMZm ImVm VWm nyd X m `mMZm ImVm Imo{bE & .67/1/1 20 8 22. (i) R.P. Ltd. forfeited 1,500 shares of Rahim of < 10 each issued at a premium of < 3 per share for non-payment of allotment and first call money. Rahim had applied for 3,000 shares. On these shares, amount was payable as follows : On application On allotment (including premium) On first call On final call < 3 per share < 5 per share < 3 per share Balance Final call has not been called up. 1,000 of the forfeited shares were reissued for < 8,500 as fully paid-up. (ii) Record the necessary journal entries for the above transactions in the books of R.P. Ltd. Max Ltd. forfeited 500 shares of < 100 each for non-payment of first call of < 20 per share and final call of < 25 per share. 250 of these shares were re-issued at < 50 per share fully paid-up. Pass the necessary journal entries in the books of Max Ltd. for forfeiture and re-issue of shares. Also prepare the Share Forfeiture Account. 4+4 OR Karur Ltd. invited applications for issuing 2,40,000 equity shares of < 10 each at a premium of < 4 per share. The amount was payable as under : On application < 4 per share (including premium < 2) On allotment < 4 per share On first and final call < 6 per share (including premium < 2) Applications for 3,00,000 shares were received and pro-rata allotment was made to all the applicants. Excess application money received on application was adjusted towards sums due on allotment. All calls were made and were duly received except from Rohini, who failed to pay allotment and first and final call on 7,500 shares applied by her. These shares were forfeited. Afterwards, 40% of the forfeited shares were re-issued at < 11 per share as fully paid-up. Pass the necessary journal entries in the books of Karur Ltd. Open call-in-arrears and call-in-advance accounts wherever necessary. .67/1/1 21 8 P.T.O. ^mJ> I {dH$ n 1 ({d mr` {ddaUm| H$m {d bofU) 23. {d mr` {ddaU {d bofU H$s {H$gr EH$ gr_m H$m C oI H$s{OE & 1 24. 0 75 : 1 Ho$ Vab AZwnmV na Xo` {V{W H$mo ~ >o na ^wZmE JE EH$ m ` {~b Ho$ AZmXaU Ho$ ^md H$m C oI H$s{OE & AnZo C ma Ho$ g_W Z _| H$maU ^r Xr{OE & 1 C oI H$s{OE {H$ {Z Z H$WZ ghr h AWdm JbV : 1 25. B do Q >r AmdV AZwnmV {d mr` C mmobZ H$m _mn h & 26. 27. 28. 29. E g {b{_Q>oS> Ho$ Hw$b XoZXma < 9,00,000 Wo & BgZo Sy>~V VWm g {X Y G$Um| Ho$ {bE 10% H$m mdYmZ {H$`m & `mnm[aH$ m ` AmdV AZwnmV H$s JUZm H$aZo Ho$ {bE XoZXmam| H$s {H$VZr am{e H$m Cn`moJ {H$`m OmEJm ? 1 amoH$ S> dmh {ddaU go g ~ {YV {H$gr EH$ J{V{d{Y H$m CXmhaU Xr{OE Omo h_oem {d mr` hmoVr h & 1 1 A Qy>~a, 2018 H$mo _mBH $mo {b{_Q>oS> Zo < 100 `oH$ Ho$ 20,000, 8% G$Un m| H$m {ZJ _Z {H$`m VWm BZ G$Un m| na 31 _mM , 2019 H$mo < 80,000 `mO H$m ^wJVmZ {H$`m & 31 _mM , 2019 H$mo g_m h E df Ho$ {bE {d mr` J{V{d{Y`m| go amoH$ S> dmh H$s JUZm H$s{OE & 1 EH$ {Zdoe m`: amoH$ S>-Vw ` Ho$ `mo ` Ho$db V~ hmoVm h O~ BgHo$ A{YJ hU H$s {V{W go BgH$s n[an dVm Ad{Y A n hmo : 1 (A) EH$ _mh AWdm H$_ (B) VrZ _mh AWdm H$_ (C) VrZ _mh AWdm A{YH$ (D) EH$ df AWdm H$_ .67/1/1 22 PART B OPTION 1 (Analysis of Financial Statements) 23. State any one limitation of Financial Statement Analysis. 24. State the impact of Bills Receivable discounted dishonoured on due date 25. 1 on the liquid ratio of 0 75 : 1. Also give reason in support of your answer. 1 State whether the following statement is true or false. 1 Inventory Turnover Ratio measures the level of financial leverage. 26. The total debtors of X Ltd. were < 9,00,000. It had created a provision of 10% for bad and doubtful debts. What amount of debtors will be used for calculating the Trade Receivables Turnover Ratio ? 27. 1 Give an example of an activity which is always financing with regards to the Cash Flow Statement. 28. 1 On 1.10.2018, Micro Ltd. issued 20,000, 8% debentures of < 100 each and paid interest of < 80,000 on these debentures on 31st March, 2019. Calculate the cash flow from financing activities for the period ending 31st March, 2019. 29. 1 An investment normally qualifies as cash-equivalent only when from the date of acquisition it has a short maturity period of : (A) One month or less (B) Three months or less (C) Three months or more (D) One year or less .67/1/1 23 1 P.T.O. 30. {Z Z gyMZm go Hw$b n[ag n{ m`m G$U AZwnmV H$s JUZm H$s{OE : 3 < 11,00,000 Mmby n[ag n{ m`m H$m` erb ny Or 6,50,000 A eYmaH$ {Z{Y 7,50,000 19,50,000 Hw$b G$U 2,50,000 g M` Ed Am{Y ` AWdm H$ nZr A{Y{Z`_, 2013 H$s AZwgyMr III ^mJ I Ho$ AZwgma, {Z Z _X| EH$ H$ nZr Ho$ p W{V {ddaU _| {H$g _w ` erf H$/Cn-erf H$ Ho$ A VJ V VwV H$s OmE Jr ? (i) H$ `yQ>a gm Q>do`a (ii) nyd X m `mMZm (iii) AX m doVZ (iv) {V^y{V r{_`_ g M` (v) EH$ d (vi) {Zdoe na Cnm{O V `mO 31. {Z Z gyMZm go VwbZm _H$ bm^-hm{Z {ddaU V `ma H$s{OE : {ddaU MmbZm| go AmJ_ A ` Am` `` MmbZ AmJ_ H$m AWdm .67/1/1 4 31.3.2018 31.3.2019 < < 4,00,000 3,00,000 80,000 40,000 40% 40% 50% Am` H$a Xa 24 3 30. Calculate the Total Assets to Debt Ratio from the following information : 3 < Current Assets 11,00,000 Working Capital 6,50,000 Shareholder s Fund 7,50,000 Total Debt 19,50,000 Reserves and Surplus 2,50,000 OR Under which major head/sub-head will the following items be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 ? 31. (i) Computer software (ii) Calls-in-advance (iii) Outstanding salary (iv) Securities Premium Reserve (v) Patents (vi) Interest accrued on Investment 3 From the following information, prepare Comparative Statement of Profit and Loss : 4 Particulars Revenue from operations Other Income 31.3.2018 31.3.2019 < < 4,00,000 3,00,000 80,000 40,000 40% 40% Expenses 50% of Revenue from operations Income Tax Rate OR .67/1/1 25 P.T.O. {Z Z gyMZm go Eb.E g. {b{_Q>oS> H$m gm_m ` AmH$ma H$m p W{V {ddaU V `ma H$s{OE : ZmoQ> 31.3.2019 31.3.2018 {ddaU < < g . I g_Vm VWm Xo`VmE : 1. A eYmaH$ {Z{Y`m 20,00,000 10,00,000 2. AMb Xo`VmE 20,00,000 5,00,000 3. Mmby Xo`VmE 10,00,000 5,00,000 Hw$b 50,00,000 20,00,000 II n[ag n{ m`m : 1. AMb n[ag n{ m`m 30,00,000 12,50,000 2. Mmby n[ag n{ m`m 20,00,000 7,50,000 Hw$b 50,00,000 20,00,000 32. (i) Zmodm {b{_Q>oS> H$s {Z Z gyMZm go {Zdoe J{V{d{Y`m| go amoH$ S> dmh H$s JUZm H$s{OE : {ddaU 31.3.2019 31.3.2018 < < 5,00,000 1,00,000 1,50,000 70,000 _erZar (bmJV na) _erZar na EH${ V _y ` mg `m{V ^y{_ 3,00,000 80,000 1,00,000 1,00,000 A{V[a $ gyMZm : (ii) df _| < 50,000 bmJV H$s EH$ _erZ, {Og na EH${ V _y ` mg < 35,000 Wm, < 12,000 _| ~oMr JB & 31 _mM , 2019 H$mo g_m df H$m {d{Z`moOZ Ho$ n MmV Omodm {b{_Q>oS> H$m bm^ < 2,50,000 Wm & A{V[a $ gyMZm : am{e H $.g. {ddaU 1. 2. 3. 4. .67/1/1 < _erZar na _y ` mg `m{V An{b{IV H$s JB \$ZuMa {dH $` na hm{Z gm_m ` g M` _| h Vm VaU 26 20,000 9,000 2,000 22,500 4 Prepare a common size Balance Sheet of L.X. Ltd. from the following information : 4 Note No. Particulars I Equity and Liabilities : 1. Shareholder s Funds 2. Non-Current Liabilities 3. Current Liabilities (i) 31.3.2018 < < Total 20,00,000 20,00,000 10,00,000 50,00,000 10,00,000 5,00,000 5,00,000 20,00,000 Total 30,00,000 20,00,000 50,00,000 12,50,000 7,50,000 20,00,000 II Assets : 1. Non-Current Assets 2. Current Assets 32. 31.3.2019 From the following information of Nova Ltd., calculate the cash flow from investing activities : Particulars Machinery (At cost) Accumulated Depreciation on machinery Goodwill Land 31.3.2019 31.3.2018 < < 5,00,000 1,00,000 1,50,000 70,000 3,00,000 80,000 1,00,000 1,00,000 Additional Information : During the year, a machine costing < 50,000 on which the accumulated depreciation was < 35,000, was sold for < 12,000. (ii) The profit of Jova Ltd. for the year ended 31st March, 2019 after appropriation was < 2,50,000. Additional Information : Amount S.No. Particulars .67/1/1 < 1. Depreciation of Machinery 2. Goodwill written off 9,000 3. Loss on sale of Furniture 2,000 4. Transfer to General Reserve 27 20,000 22,500 P.T.O. 31 _mM , 2018 VWm {Z Z H$ma go Wr : 2019 H$mo Mmby n[ag n{ m`m| VWm Mmby Xo`VmAm| H$s p W{V {ddaU 31.3.2018 31.3.2019 < < A{J _ m Am` 8,000 B do Q>ar (_mbgyMr) 12,000 MmbZ J{V{d{Y`m| go amoH$ S> dmh H$s JUZm H$s{OE & 8,000 3+3 ^mJ I {dH$ n 2 (A{^H${b boIm H$Z) 23. 24. 25. 26. O~ {d{^ moVm| go EH${ V S>oQ>m H$m {H $`U EH$ PQ>Ho$ _| H$a {X`m OmVm h , Vmo Bgo H$hVo h : (A) dm V{dH$ g_` {H $`U (B) S>oQ>m _m `Vm (C) {H $`U d nwZ:_m `Vm (D) ~ M {H $`U `{ $ H$m H$X _________ EQ >r `yQ> h , O~{H$ CgH$s e j{UH$ `mo `Vm EQ >r `yQ hmo gH$Vr h & _________ Cg boIm H$Z CnV H$m Zm_ ~VmBE Omo H $` VWm {ZJ {_V H$s JB {d{^ _Xm| Ho$ _y `, _m m VWm S>oQ>m ~VmVo h E CZHo$ A{^boIZ go g ~p YV h : (A) H $` Ed Xo` ImVm CnV (B) IM} boIZ H$m CnV (C) B do Q>ar CnV (D) bmJV CnV _mCg H$s Mmb H$m {_bmZ H$s- Q >mo g (i) EH$ gob D$na (ii) EH$ gob XmE (keystrokes) go H$s{OE : ZrMo Vra ( ) `m E Q>a D$na Vra ( ) ~mE Vra ( ) XmE Vra ( ) (a) (b) (c) (d) .67/1/1 28 1 1 1 1 The following was the position of its Current Assets and Current Liabilities as at 31st March, 2018 and 2019. 31.3.2018 31.3.2019 < < Income Received in Advance 8,000 Inventory 12,000 8,000 Particulars Calculate the Cash flow from operating activities. 3+3 PART B OPTION 2 (Computerised Accounting) 23. When the accumulated data from various sources is processed in one shot it is called : (A) Real Time Processing (B) Data Validation (C) Processing and Revalidation (D) Batch Processing 24. 1 Height of a person is a ___________ attribute whereas academic qualification can be ___________ attribute. 25. 26. 1 Name the accounting subsystem which deals with recording of different items purchased and issued specifying the price, quantity and data. (A) Purchase and Accounts Payable subsystem (B) Expense Accounting subsystem (C) Inventory subsystem (D) Costing subsystem 1 Match the movement of mouse with the keystrokes : 1 (i) (ii) .67/1/1 One cell up One cell right (a) (b) (c) (d) Down arrow key ( ) or Enter Up arrow key ( ) Left arrow key ( ) Right arrow key ( ) 29 P.T.O. 27. 28. (A) (i) (c) Am a (ii) (a) (B) (i) (b) Am a (ii) (d) (C) (i) (a) Am a (ii) (d) (D) (i) (b) Am a (ii) (c) ___________ d ar H$m `moJ S>oQ>m _Xm| Ho$ EH$ g_yh go Hw$b S>oQ>m {ZH$mbZo Ho$ {bE hmoVm h Z {H$ {d V V X Vmdo Om| Ho$ goQ> go S>oQ>m {ZH$mbZo Ho$ {bE & 1 ##### 1 (A) (B) (C) (D) Aew{ V~ { >JmoMa hmoVr h O~ : EH$ G$Um _H$ S>oQ>m H$m `moJ h Am hmo & H$m b_ H$s Mm S>mB nyar Z hmo & g_` H$m G$Um _H$ _mZ `w $ hwAm hmo & Cn`w $ g^r 29. mW{_H$-H$s jo _| S>oQ>m H$m hmoZm : (A) Amd `H$ Zht h & (B) Amd `H$ Vmo h , na Vw dh A{ Vr` hmo `h Amd `H$ Zht & (C) Amd `H$ ^r h Am a dh A{ Vr` ^r hmoZm Mm{hE & (D) Cn`w $ g^r 1 30. _h JmB ^ mm d gH$b doVZ H$s JUZm H$m gy {bIH$a CgH$s `m `m H$s{OE & AWdm H$m Q >m dmCMa d m{ dmCMa H$mo g_PmBE & 3 A{^H${b boIm H$Z V H$s {H$ ht Mma gr_mAm| H$m C oI H$s{OE & AWdm S>oQ>m _m `rH$aU H$m `m AW h ? Xmo CXmhaU Xr{OE O~ _y ` eVm] H$mo nyam Zht H$a aho hm| Am a gob Aew{ {XImE & 4 31. 32. Cg Aew{ H$m Zm_ ~VmBE Omo E g b H$m `moJ H$aVo g_` AmnHo$ H$ `yQ>a nQ>b na V~ { >JmoMa hmoVr h O~ `moJ {H$E Om aho \$m_y bo _| {H$gr hQ>mE JE gob H$m `moJ hmo ahm h & `h ^r g_PmBE {H$ Cg Aew{ H$mo H $go ew {H$`m Om gH$Vm h & .67/1/1 30 3 4 6 (A) (B) (C) (D) 27. 28. 29. 30. 31. 32. (i) (c) and (ii) (a) (i) (b) and (ii) (d) (i) (a) and (ii) (d) (i) (b) and (ii) (c) A ___________ query is used to extract aggregate of data items for a group of records rather than a detailed set of records. 1 A ##### error appears when : 1 (A) A negative data is used. (B) (C) (D) Column is not wide enough. Negative time is used. All of the above The existence of data in a primary key field is : (A) (B) (C) Not necessarily required. Required but need not be unique. Required and must be unique. (D) All of the above 1 Write and explain the formula to calculate Dearness Allowance and Gross Salary . 3 OR Explain Contra voucher and Receipt voucher . 3 State any four limitations of a computerised accounting system. 4 OR What is meant by data validation ? Give two examples when the cell will give error if the values are not meeting the conditions. 4 Name the error which appears on the screen of your computer while using Excel, when the formula refers to a deleted cell. Also explain how to correct that error. .67/1/1 31 6 P.T.O.

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