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CBSE Class 12 Board Exam 2019 : Accountancy (Series 4)

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SET-1 H$moS> Z . Series BVM/4 Code No. amob Z . 67/4/1 narjmWu H$moS >H$mo C ma-nwp VH$m Ho$ _wI-n >na Ad ` {bIo & Roll No. Candidates must write the Code on the title page of the answer-book. H $n`m Om M H$a b| {H$ Bg Z-n _o _w{ V n > 23 h & Z-n _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Z ~a H$mo N>m C ma -nwp VH$m Ho$ _wI-n > na {bI| & H $n`m Om M H$a b| {H$ Bg Z-n _| 23 Z h & H $n`m Z H$m C ma {bIZm ew $ H$aZo go nhbo, Z H$m H $_m H$ Ad ` {bI| & Bg Z-n H$mo n T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h & Z-n H$m {dVaU nydm _| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>m Ho$db Z-n H$mo n T>|Jo Am a Bg Ad{Y Ho$ Xm amZ do C ma-nwp VH$m na H$moB C ma Zht {bI|Jo & Please check that this question paper contains 23 printed pages. Code number given on the right hand side of the question paper should be written on the title page of the answer-book by the candidate. Please check that this question paper contains 23 questions. Please write down the Serial Number of the question before attempting it. 15 minute time has been allotted to read this question paper. The question paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the question paper only and will not write any answer on the answer-book during this period. boImem ACCOUNTANCY {ZYm [aV g_` : 3 K Q>o A{YH$V_ A H$ : 80 Time allowed : 3 hours 67/4/1 Maximum Marks : 80 1 P.T.O. gm_m ` {ZX}e : (i) `h Z-n Xmo I S>m| _| {d^ $ h H$ Am a I & (ii) I S> H$ g^r Ho$ {bE A{Zdm` h & (iii) I S> I Ho$ Xmo {dH$ n h - {d mr` {ddaUm| H$m {d bofU VWm A{^H${b boIm H$Z & (iv) I S> I go Ho$db EH$ hr {dH$ n Ho$ Zm| Ho$ C ma {b{IE & (v) {H$gr Z Ho$ g^r I S>m| Ho$ C ma EH$ hr WmZ na {bIo OmZo Mm{hE & General Instructions : (i) This question paper contains two parts A and B. (ii) Part A is compulsory for all. (iii) Part B has two options Analysis of Financial Statements and Computerised Accounting. (iv) Attempt only one option of Part B. (v) All parts of a question should be attempted at one place. I S> H$ (Abm^H$mar g JR>Zm|, gmPoXmar \$_m] VWm H$ n{Z`m| Ho$ {bE boIm H$Z) PART A (Accounting for Not-for-Profit Organizations, Partnership Firms and Companies) 1. 2. Ad{Y Ho$ AmYma na m{ V Ed ^wJVmZ ImVo VWm Am` Ed `` ImVo _| A V^}X H$s{OE & AWdm 1 OrdZ gX `Vm ew H$ H$m `m AW h 1 ? Differentiate between Receipts and Payments Account and Income and Expenditure Account on the basis of Period . OR What is meant by Life membership fees ? Xod Zo `oH$ _hrZo Ho$ 15d| {XZ < 10,000 H$m AmhaU {H$`m & AmhaU na 12% dm{f H$ `mO bJmZm h & Xod Ho$ AmhaU na `mO H$s JUZm H$s{OE & 3. 1 Dev withdrew < 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev s drawings. H$ VWm I EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & J VWm K H$mo Z`m gmPoXma ~Zm`m J`m & H$ Zo AnZo A e H$m 1 dm ^mJ J H$mo `mJ {H$`m VWm I Zo 4 AnZo A e H$m 50% ^mJ K H$mo `mJ {H$`m & H$, I, J VWm K Ho$ ZE bm^ {d^mOZ 1 AZwnmV H$s JUZm H$s{OE & 67/4/1 2 A and B were partners in a firm sharing profits in the ratio of 3 : 2. C and 1 D were admitted as new partners. A sacrificed th of his share in favour of 4 C and B sacrificed 50% of his share in favour of D. Calculate the new profit sharing ratio of A, B, C and D. 4. 5. nw VH$m| H$mo ~ X H$aZo Ho$ AmYma na gmPoXmar Ho$ nwZJ R>Z VWm gmPoXmar \$_ Ho$ {dKQ>Z _| A V^}X H$s{OE & AWdm _ `w Ho$ df _| _ V gmPoXma Ho$ H$mZyZr {V{Z{Y H$mo Xo` bm^ H$s am{e H$s JUZm Ho$ AmYmam| H$m C boI H$s{OE & 1 1 Distinguish between Reconstitution of Partnership and Dissolution of Partnership Firm on the basis of Closure of books . OR State the basis of calculating the amount of profit payable to the legal representative of a deceased partner in the year of death. g nm{ dH$ {V^y{V Ho$ $n _| G$Un m| Ho$ {ZJ _Z H$m `m AW h ? 1 H$ nZr A{Y{Z`_, C boI H$s{OE & 2013 AWdm Ho$ AZwgma G$Un emoYZ H$mof g OZ Ho$ {bE mdYmZ H$m 1 What is meant by Issue of Debentures as Collateral Security ? OR State the provision of the Companies Act, 2013 for the creation of Debenture Redemption Reserve. 6. 7. Eogo {H$ ht Xmo AmYmam| H$m C boI H$s{OE {OZHo$ AZwgma `m`mb` gmPoXmar \$_ Ho$ {dKQ>Z H$m AmXoe Xo gH$Vm h & 1 State any two grounds on the basis of which court may order for the dissolution of partnership firm. A em| Ho$ A{Y-A{^XmZ H$m `m AW h ? A{Y-A{^XmZ H$s p W{V _| A em| Ho$ Am~ Q>Z Ho$ {bE Cnb Y {dH$ nm| H$mo EH$ CXmhaU H$s ghm`Vm go g jon _| g_PmBE & AWdm A em| Ho$ haU H$m `m AW h ? A em| Ho$ haU na bm^ H$~ A{O V hmoVm h VWm H$~ Bgo ny Or g M` _| h Vm V[aV {H$`m OmVm h ? 3 3 What is meant by over-subscription of shares ? With the help of an example, briefly explain the alternatives available for allotment of shares in case of over-subscription. OR What is meant by Forfeiture of shares ? When does gain on forfeited shares arise and when is it transferred to capital reserve ? 67/4/1 3 P.T.O. 8. A_Z, {~_b VWm XrnH$ EH$ \$_ Ho$ gmPoXma h VWm 2 : 3 : 5 Ho$ AZwnmV _| bm^ ~m Q>Vo h & \$_ H$s `m{V H$m _y `m H$Z < 37,500 {H$`m J`m h & A_Z Zo AdH$me J hU {H$`m & {~_b VWm XrnH$ Zo ^{d ` _| bm^ ~am~a-~am~a ~m Q>Zo H$m {ZU ` {b`m & A_Z Ho$ AdH$me J hU H$aZo na {~_b VWm XrnH$ Ho$ bm^/ `mJ H$s JUZm H$s{OE VWm `m{V H$m boIm H$aZo Ho$ {bE Amd `H$ amo OZm_Mm {dp Q> ^r H$s{OE & Aman, Bimal and Deepak are partners sharing profits in the ratio of 2 : 3 : 5. The goodwill of the firm has been valued at < 37,500. Aman retired. Bimal and Deepak decided to share profits equally in future. Calculate gain/sacrifice of Bimal and Deepak on Aman s retirement and also pass necessary journal entry for the treatment of goodwill. 9. 3 {Z Z{b{IV gyMZm go 31 _mM , 2018 H$mo g_m V df _| h nr nmoQ> g b~ mam m V A eXmZ H$s am{e H$s JUZm H$s{OE & {ddaU 31.3.2017 31.3.2018 < < A{J _ M Xm 3,000 4,500 AX m M Xm 4,500 6,000 b~ Ho$ 2,000 gX ` h VWm `oH$ gX ` < 500 dm{f H$ M Xo H$m ^wJVmZ H$aVm h & 3 From the following information, calculate the amount of subscriptions received by Happy Sports Club during the year ended 31st March, 2018. Particulars Advance Subscription Outstanding Subscription 31.3.2017 31.3.2018 < < 3,000 4,500 4,500 6,000 The Club has 2000 members each paying an annual subscription of < 500. 10. < 50 `oH$ Ho$ 7,500, 9% G$Un m| H$mo 6% Ho$ ~ >o na {ZJ {_V H$aZo, {OZH$m emoYZ 10% Ho$ r{_`_ na H$aZm h , H$s Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE VWm V `ma H$s{OE & 9% G$Un ImVm 3 Pass necessary journal entries and prepare 9% Debentures Account for the issue of 7,500, 9% Debentures of < 50 each at a discount of 6%, redeemable at a premium of 10%. 11. 31 _mM , 2018 H$mo _ OrV, gwOrV VWm OJOrV H$s \$_ H$m {dKQ>Z hmo J`m & `h {ZU ` {b`m J`m {H$ gwOrV {dKQ>Z g ~ Yr J{V{d{Y`m XoIoJm VWm Cgo n[ag n{ m`m| Ho$ ~oMZo na m V _y ` H$m 10% m V hmoJm & gwOrV dgybr ``m| H$mo dhZ H$aZo Ho$ {bE gh_V hmo J`m & n[ag n{ m`m| go < 10,00,750 m V h E VWm dgybr `` < 90,000 Wo, {OZH$m ^wJVmZ \$_ H$s ZJXr go {H$`m J`m & boZXmam| H$mo CZHo$ Xmdo Ho$ nyU {ZnQ>mZ na < 4,50,000 H$m ^wJVmZ {H$`m J`m & Cn`w $ boZXoZm| Ho$ {bE \$_ H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 67/4/1 4 4 12. The firm of Manjeet, Sujeet and Jagjeet was dissolved on 31 st March, 2018. It was agreed that Sujeet will take care of the dissolution related activities and will get 10% of the value of assets realised. Sujeet agreed to bear the realisation expenses. Assets realised < 10,00,750 and realisation expenses were < 90,000, which were paid from the firm s cash. < 4,50,000 were paid to the creditors in full settlement of their claim. Pass necessary journal entries for the above transactions in the books of the firm. H$ VWm I EH$ \$_ Ho$ gmPoXma Wo VWm 5 : 3 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 31 _mM , 2017 H$mo CZH$s Wm`r ny Or Wr : H$ < 60,000, VWm I < 80,000 & do ny Or na 12% {V df `mO XoZo Ho$ {bE gh_V h E & ny Or na `mO XoZo go nyd 31 _mM , 2018 H$mo g_m V h E df Ho$ {bE \$_ H$m bm^ < 12,600 Wm & Cn`w $ boZXoZm| Ho$ {bE H$ Am a I H$s nw VH$m| _| Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & gmW hr AnZr H$m` -{Q> nUr H$mo n Q> $n go Xem BE & 4 A and B were partners in a firm sharing profits in the ratio of 5 : 3. Their fixed capitals on 31st March, 2017 were : A < 60,000 and B < 80,000. They agreed to allow interest on capital @ 12% p.a. The profit of the firm for the year ended 31st March, 2018 before allowing interest on capitals was < 12,600. Pass necessary journal entries for the above transactions in the books of A and B. Also show your working notes clearly. 13. H$, I VWm J gmPoXma Wo VWm 2 : 2 : 1 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2018 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2018 H$mo H$, I VWm J H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < ny Or : H$ 7,50,000 I 3,00,000 J boZXma 2,50,000 ~ H$ _| amoH$ S> {d{dY XoZXma 1,95,000 KQ>m : Sy>~V G$Um| 5,000 Ho$ {bE mdYmZ Q>m H$ Wm`r n[ag n{ m`m 13,00,000 2,00,000 15,00,000 3,00,000 1,90,000 3,00,000 7,10,000 15,00,000 Cn`w $ {V{W H$mo C hm|Zo \$_ H$m {dKQ>Z {H$`m VWm {Z Z am{e m V h B : Wm`r n[ag n{ m`m < 6,75,000; Q>m H$ < 3,39,000; XoZXma < 1,35,000; boZXmam| H$mo CZHo$ Xmdo Ho$ nyU {ZnQ>mZ hoVw < 1,85,000 H$m ^wJVmZ {H$`m J`m & dgybr `` < 19,000 Wo & \$_ Ho$ {dKQ>Z na Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 6 AWdm 67/4/1 5 P.T.O. nr, `y VWm Ama EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 : 1 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2018 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2018 H$mo nr, `y VWm Ama H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < boZXma gm_m ` g M` ny Or : nr `y Ama < 50,000 60,000 2,00,000 3,00,000 3,00,000 amoH$ S> h Vo ~ oH$ _| amoH$ S> Q>m H$ XoZXma Wm`r n[ag n{ m`m 40,000 2,00,000 50,000 60,000 5,60,000 8,00,000 9,10,000 9,10,000 Cn`w $ {V{W H$mo \$_ H$m nwZJ R>Z {H$`m J`m VWm `h {ZU ` {b`m J`m {H$ : (i) Z`m bm^ {d^mOZ AZwnmV 2 : 2 : 1 hmoJm & (ii) < 6,000 Ho$ Sy>~V G$Um| H$mo An{b{IV {H$`m OmEJm VWm Sy>~V VWm g {X Y G$Um| Ho$ {bE < 3,000 H$m mdYmZ {H$`m OmEJm & (iii) gmPoXmam| H$s ny Or H$mo ZB \$_ _| CZHo$ ZE bm^ {d^mOZ AZwnmV Ho$ AZwgma g_m`mo{OV {H$`m OmEJm & BgHo$ {bE gmPoXmam| Ho$ Mmby ImVo Imobo OmE Jo & \$_ Ho$ nwZJ R>Z na Amd `H$ amo OZm_Mm {d{ Q>`m H$s{OE & A, B and C were partners sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2018 was as follows : Balance Sheet of A, B and C as at 31st March, 2018 Amount Amount Liabilities Assets < < Capitals : A 7,50,000 B 3,00,000 C 2,50,000 Creditors 3,00,000 Sundry Debtors 1,95,000 Less : Provision for Bad Debts 5,000 1,90,000 13,00,000 Stock 2,00,000 Fixed Assets 15,00,000 67/4/1 Cash at Bank 6 3,00,000 7,10,000 15,00,000 6 On the above date they dissolved the firm and following amounts were realised : Fixed Assets < 6,75,000; Stock < 3,39,000; Debtors < 1,35,000; Creditors were paid < 1,85,000 in full settlement of their claim. Expenses on Realisation amounted to < 19,000. Pass the necessary journal entries on the dissolution of the firm. OR P, Q and R were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. On 31st March, 2018 their Balance Sheet was as follows : Balance Sheet of P, Q and R as at 31st March, 2018 Amount Liabilities Assets < Amount < Creditors 50,000 Cash in Hand 40,000 General Reserve 60,000 Cash at Bank 2,00,000 Capital : Stock 50,000 60,000 P 2,00,000 Debtors Q 3,00,000 Fixed Assets R 3,00,000 5,60,000 8,00,000 9,10,000 9,10,000 On the above date the firm was reconstituted and it was decided that : (i) The new profit sharing ratio will be 2 : 2 : 1. (ii) Bad debts < 6,000 were to be written off and a provision of < 3,000 was to be made for bad and doubtful debts. (iii) The capital of the partners will be adjusted in the new firm in their profit sharing ratio. For this, partners current accounts will be opened. Pass the necessary journal entries on the reconstitution of the firm. 67/4/1 7 P.T.O. 14. 31 _mM , 2018 H$mo g_m V h E df Ho$ {bE d N> ^maV b~, ZB {X br Ho$ {Z Z{b{IV m{ V Ed ^wJVmZ ImVo VWm A{V[a $ gyMZm go Am` Ed `` ImVm VWm p W{V {ddaU V `ma H$s{OE & 31 _mM , 2018 H$mo g_m h E df Ho$ {bE d N> ^maV b~ H$m m{ Ed ^wJVmZ ImVm am{e m{ V`m am{e ^wJVmZ < eof AmJo bmE < A{^`mZ `` amoH$ S> 20,000 ~ H$ 40,000 M Xm 60,000 1,80,000 nwamZo \$ZuMa H$m {dH $` (nw VH$ _y ` < 3,000) OrdZ gX `Vm ew H$ gaH$mar AZwXmZ 2,000 30,000 2,00,000 1,30,000 H$m`m b` {H$am`m 40,000 doVZ 10,000 \$ZuMa H$m {H$am`m 12,000 {dkmnZ 15,000 (1.8.2017 H$mo 12% {V df `mO na) Wm`r O_m 2,00,000 eof ZrMo bo JE amoH$ S> 25,000 ~ H$ 40,000 4,72,000 65,000 4,72,000 A{V[a $ gyMZm : 1.4.2017 H$mo n[ag n{ m`m Wt : nw VH|$ < 50,000; H$ `yQ>g < 75,000 & 1.4.2017 H$mo Xo`VmE VWm ny Or H$mof Wo : boZXma < 60,000; ny Or H$mof < 1,28,000 & 67/4/1 8 6 From the following Receipts and Payments Account and additional information of Swachh Bharat Club, New Delhi for the year ended 31st March, 2018, prepare Income and Expenditure Account and Balance Sheet. Receipts and Payments Account of Swachh Bharat Club for the year ended 31st March, 2018 Receipts Amount < To Balance b/d Cash 20,000 Bank 40,000 To Subscriptions To Sale of old furniture (book value < 3,000) To Life Membership fees To Government grants Amount Payments < By Campaign Expenses 1,30,000 By Office rent 40,000 60,000 By Salary 10,000 By Furniture hire rent 12,000 2,000 By Advertisement 15,000 1,80,000 30,000 By Fixed deposit 2,00,000 (On 1.8.2017 @12%p.a.) 2,00,000 By Balance c/d 4,72,000 Cash 25,000 Bank 40,000 65,000 4,72,000 Additional Information : Assets on 1.4.2017 were : Books < 50,000; Computers < 75,000. Liabilities and Capital fund on 1.4.2017 were : Creditors < 60,000; Capital fund < 1,28,000. 15. bm^-hm{Z {d{Z`moOZ ImVm V `ma H$aVo g_` H$s JB {Z Z MyH$ Ho$ {bE Amd `H$ w{Q>-gwYmaH$$ amo OZm_Mm {dp Q>`m H$s{OE & AmnH$mo AnZo H$m` H$mo ^r n Q> Xem Zm h & (i) H$, I VWm J gmPoXma Wo VWm bm^-hm{Z ~am~a-~am~a ~m Q>Vo Wo & CZH$s Wm`r ny Or Wr H$ < 4,00,000; I < 5,00,000 VWm J < 6,00,000 & gmPoXmar g boI _| mdYmZ Wm {H$ gmPoXmam| H$mo ny Or na 10% {V df `mO {X`m OmEJm & BgH$s MyH$ hmo JB & 67/4/1 9 6 P.T.O. (ii) nr, `y VWm Ama EH$ \$_ Ho$ gmPoXma Wo VWm bm^-hm{Z 2 : 2 : 1 Ho$ AZwnmV _| ~m Q>Vo Wo & CZHo$ gmPoXmar g boI _| mdYmZ Wm {H$ gmPoXmam| Ho$ AmhaU na 18% {V df `mO bJm`m OmEJm & gmPoXmam| Ho$ AmhaU na `mO H $_e: < 1,000, < 500 VWm < 2,000 Wm & BgH$s MyH$ hmo JB & Pass necessary rectifying journal entries for the following omissions committed while preparing Profit and Loss Appropriation Account. You are also required to show your workings clearly. (i) A, B and C were partners sharing profits and losses equally. Their fixed capitals were A < 4,00,000; B < 5,00,000 and C < 6,00,000. The partnership deed provided that interest on partners capital will be allowed @ 10% per annum. The same was omitted. (ii) P, Q and R were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their partnership deed provided that interest on partners drawings will be charged @ 18% p.a. Interest on the partners drawings was < 1,000, < 500 and < 2,000 respectively. The same was omitted. 16. Eg {b{_Q>oS> Zo < 10 `oH$ Ho$ 1,00,000 g_Vm A em| Ho$ {ZJ _Z Ho$ {bE AmdoXZ Am_ { V {H$E & A em| H$mo < 5 {V A e Ho$ r{_`_ na {ZJ {_V {H$`m J`m & am{e H$m ^wJVmZ {Z Z H$ma go H$aZm Wm : AmdoXZ VWm Am~ Q>Z na < 8 {V A e (< 3 r{_`_ g{hV) W_ Ed Ap V_ `mMZm na r{_`_ g{hV eof 1,50,000 A em| Ho$ {bE AmdoXZ m V h E & 10,000 A em| Ho$ {bE AmdoXZm| H$mo a H$a {X`m J`m VWm eof AmdXoH$m| H$mo {Z Z AmYma na A em| H$m Am~ Q>Z {H$`m J`m : (I) 80,000 A em| Ho$ AmdoXH$m| H$mo 60,000 A em| H$m Am~ Q>Z, VWm (II) 60,000 A em| Ho$ AmdoXH$m| H$mo 40,000 A em| H$m Am~ Q>Z AmdoXZ VWm Am~ Q>Z na m V A{V[a $ am{e H$m g_m`moOZ _m J na Xo` am{e _| H$a {b`m J`m & E g, Omo I loUr go g ~p YV Wm VWm {Ogo 300 A em| H$m Am~ Q>Z {H$`m J`m Wm, W_ VWm A {V_ `mMZm am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm & dmB ^r, Omo II loUr go g ~p YV Wm VWm {Ogo 200 A em| H$m Am~ Q>Z {H$`m J`m Wm, W_ VWm Ap V_ `mMZm am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm & CZHo$ A em| H$m haU H$a {b`m J`m & haU {H$E JE A e < 12 {V A e nyU X m nwZ:{ZJ {_V H$a {XE JE & Cn`w $ boZXoZm| Ho$ {bE H$ nZr H$s nw VH$m| _| Amd `H$ amoH$ S> ~hr Ed amo OZm_Mm {dp Q>`m H$s{OE & AWdm 67/4/1 10 8 O Z {b{_Q>oS> Zo < 10 `oH$ Ho$ 1,12,000 g_Vm A em| H$mo g__y ` na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_ { V {H$E & {V A e am{e H$m ^wJVmZ {Z Z H$ma go H$aZm Wm : AmdoXZ na <1 Am~ Q>Z na <2 W_ `mMZm na <3 Xygar VWm A {V_ `mMZm na < 4 1,00,000 A em| Ho$ {bE AmdoXZ m V h E & g^r AmdoXH$m| H$mo nyU $n go A em| H$m Am~ Q>Z H$a {X`m J`m & a_oe Zo < 2,000 H$s AnZr Am~ Q>Z am{e H$m ^wJVmZ Zht {H$`m & CgHo$ A em| H$m Vwa V haU H$a {b`m J`m & gwaoe Zo AnZo Amdo{XV 500 A em| na W_ `mMZm am{e H$m ^wJVmZ Zht {H$`m & W_ `mMZm Ho$ n MmV CgHo$ A em| H$m haU H$a {b`m J`m & a_oe VWm gwaoe Ho$ haU {H$E JE A em| H$m < 9 {V A e nyU X m nwZ:{ZJ _Z H$a {X`m J`m & BgHo$ n MmV X gar VWm Ap V_ `mMZm _m Jr JB VWm m V hmo JB & O Z {b{_Q>oS> H$s nw VH$m| _| Cn`w $ boZXoZm o Ho$ {bE Amd `H$ amo OZm_Mm {dp Q>`m H$s{OE & 8 S Ltd. invited applications for issuing 1,00,000 equity shares of < 10 each. The shares were issued at a premium of < 5 per share. The amount was payable as follows : On Application and Allotment < 8 per share (including premium < 3) On the First and Final call Balance including premium Applications for 1,50,000 shares were received. Applications for 10,000 shares were rejected and pro-rata allotment was made to the remaining applicants on the following basis : (I) Applicants for 80,000 shares were allotted 60,000 shares, and (II) Applicants for 60,000 shares were allotted 40,000 shares. Excess amount received on application and allotment was to be adjusted against sums due on call. X, who belonged to the first category and was allotted 300 shares, failed to pay the first and final call money. Y, who belonged to the second category and was allotted 200 shares, also failed to pay the first and final call money. Their shares were forfeited. The forfeited shares were reissued @ < 12 per share as fully paid-up. Pass necessary cash book and journal entries for the above transactions in the books of the company. OR 67/4/1 11 P.T.O. Jain Ltd. invited applications for issuing 1,12,000 equity shares of < 10 each at par. The amount per share was payable as follows : On Application <1 17. On Allotment On First call On Second and Final call <2 <3 <4 Applications for 1,00,000 shares were received. Shares were fully allotted to all the applicants. Ramesh failed to pay his allotment money which was < 2,000. His shares were forfeited immediately. Suresh did not pay the first call on 500 shares applied by him. His shares were forfeited after the first call. The forfeited shares of Ramesh and Suresh were re-issued at < 9 per share fully paid up. Afterwards the second and final call was made and was duly received. Pass necessary journal entries for the above transactions in the books of Jain Ltd. H$ VWm I EH$ \$_ Ho$ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _| bm^-hm{Z ~m Q>Vo Wo & 31 _mM , 2018 H$mo CZH$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2018 H$mo H$ VWm I H$m p W{V {ddaU am{e n[ag n{ m`m < Xo`VmE ny Or : H$ I 1,04,000 52,000 1,56,000 boZXma H$_ Mmar ^{d ` {Z{Y H$mof H$m_Jma j{Vny{V H$mof AmH$p _H$ g M` 1,54,000 16,000 10,000 10,000 3,46,000 amoH$ S> {d{dY XoZXma 37,600 KQ>m : g {X Y G$Um| Ho$ {bE mdYmZ 1,600 Q>m H$ nyd X m ~r_m bm Q> VWm _erZar ^dZ \$ZuMa am{e < 8,000 36,000 60,000 6,000 76,000 1,40,000 20,000 3,46,000 J H$mo EH$ ZE gmPoXma Ho$ $n _| doe {X`m J`m VWm dh < 64,000 AnZr ny Or Ho$ {bE VWm < 15,000 AnZo ^mJ H$s `m{V r{_`_ Ho$ {bE bm`m & Z`m bm^ {d^mOZ AZwnmV 5 : 3 : 2 Wm & 67/4/1 12 J Ho$ doe na {Z Z na gh_{V h B : (i) Q>m H$ na 5% _y ` mg bJm`m OmEJm & (ii) g {X Y G$Um| Ho$ {bE mdYmZ < 2,000 {H$`m OmEJm & (iii) \$ZuMa na 10% _y ` mg bJm`m OmEJm & (iv) ^dZ H$m _y `m H$Z < 1,60,000 {H$`m J`m & (v) H$ VWm I H$s ny Or H$m g_m`moOZ J H$s ny Or Ho$ AmYma na p W{V AZw gma ZJX bmH$a AWdm ^wJVmZ H$aHo$ {H$`m OmEJm & nwZJ {R>V \$_ H$m nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm p W{V {ddaU V `ma H$s{OE & AWdm Or, B VWm E\$ EH$ \$_ Ho$ gmPoXma Wo VWm 7 : 2 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 31 _mM , 2018 H$mo \$_ H$m p W{V {ddaU {Z Z H$ma go Wm : 31 _mM , 2018 H$mo Or, B VWm E\$ H$m p W{V {ddaU am{e am{e Xo`VmE n[ag n{ m`m < < n yOr : Or B E\$ boZXma gm_m ` g M` B go G$U 1,40,000 40,000 20,000 2,00,000 28,000 amoH$ S> {d{dY XoZXma Q>m H$ _erZar ^y{_ VWm ^dZ 8 90,000 24,000 14,000 80,000 1,20,000 40,000 60,000 3,28,000 3,28,000 Cn`w $ {V{W H$mo B Zo AdH$me J hU {H$`m & B Ho$ AdH$me J hU H$aZo na {Z Z na gh_{V h B : (i) ^y{_ VWm ^dZ H$m < 1,88,000, _erZar H$m < 76,000 VWm Q>m H$ H$m < 10,000 na nwZ_ y `m H$Z {H$`m J`m VWm \$_ H$s `m{V H$m _y `m H$Z < 90,000 {H$`m J`m & (ii) g {X Y G$Um| Ho$ {bE XoZXmam| na 2.5% H$m mdYmZ H$aZm Wm & (iii) B H$mo Xo` ew am{e H$mo CgHo$ G$U ImVo _| h Vm V[aV {H$`m J`m {OgH$m ^wJVmZ ~mX _| {H$`m OmEJm & (iv) ZB \$_ H$s Hw$b ny Or < 2,40,000 {Z`V H$s JB {OgH$m g_m`moOZ Mmby ImVo ImobH$a CZHo$ ZE bm^ {d^mOZ AZwnmV Ho$ AZwgma {H$`m OmEJm & nwZJ {R>V \$_ H$m nwZ_ y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm p W{V {ddaU V `ma H$s{OE & 8 67/4/1 13 P.T.O. A and B were partners sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2018, was as follows : Balance Sheet of A and B as at 31st March, 2018 Amount Liabilities Amount Assets < Capital : < Cash A 1,04,000 B 52,000 Creditors Sundry Debtors 8,000 37,600 Less : Provision for doubtful debts 1,600 1,56,000 1,54,000 Stock Employees Provident Fund 16,000 Prepaid Insurance Workmen Compensation Fund 10,000 Plant and Machinery Contingency Reserve 10,000 Building Furniture 3,46,000 36,000 60,000 6,000 76,000 1,40,000 20,000 3,46,000 C was admitted as a new partner and brought < 64,000 as capital and < 15,000 for his share of goodwill premium. The new profit sharing ratio was 5 : 3 : 2. On C s admission the following was agreed upon : (i) Stock was to be depreciated by 5%. (ii) Provision for doubtful debts was to be made at < 2,000. (iii) Furniture was to be depreciated by 10%. (iv) Building was valued at < 1,60,000. (v) Capitals of A and B were to be adjusted on the basis of C s capital by bringing or paying of cash as the case may be. Prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of reconstituted firm. OR 67/4/1 14 G, E and F were partners in a firm sharing profits in the ratio of 7 : 2 : 1. The Balance Sheet of the firm as at 31st March, 2018, was as follows : Balance Sheet of G, E and F as at 31st March, 2018 Amount Liabilities < Capital : G 1,40,000 E 40,000 F 20,000 Assets < Cash 90,000 Sundry Debtors 24,000 Stock 14,000 2,00,000 Machinery Creditors 28,000 Land and Building General Reserve 40,000 Loan from E 60,000 3,28,000 Amount 80,000 1,20,000 3,28,000 E retired on the above date. On E s retirement the following was agreed upon : (i) Land and Building were revalued at < 1,88,000, Machinery at < 76,000 and Stock at < 10,000 and goodwill of the firm was valued at < 90,000. (ii) A provision of 2 5% was to be created on debtors for doubtful debts. (iii) The net amount payable to E was transferred to his loan account to be paid later on. (iv) Total capital of the new firm was fixed at < 2,40,000 which will be adjusted according to their new profit sharing ratio by opening current accounts. Prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of reconstituted firm. 67/4/1 15 P.T.O. I S> I {dH$ n 1 ({d mr` {ddaUm| H$m {d bofU) PART B OPTION 1 (Analysis of Financial Statements) 18. bm^m e H$s m{ V H$mo H$~ MmbZ J{V{d{Y Ho$ A VJ V dJuH $V {H$`m Om gH$Vm h C boI H$s{OE & gmW hr AnZo C ma Ho$ g_W Z _| H$maU Xr{OE & ? 1 When can Receipt of Dividend be classified as an operating activity ? State. Also give reason in support of your answer. 19. amoH$ S> dmh {ddaU go `m AW h ? 1 What is meant by Cash Flow Statement ? 20. H$ nZr A{Y{Z`_, 2013 H$s AZwgyMr III, ^mJ I Ho$ AZwgma {Z Z _Xm| H$mo {H$Z _w ` erf H$m| d Cnerf H$m| Ho$ A VJ V Xem `m OmEJm ? (i) M g Ed ~ H$ S >m Q> h Vo (ii) Iwbo Am Oma (iii) {V^y{V r{_`_ g M` (iv) N>: _hrZo go H$_ H$s n[an dVm Ad{Y Ho$ {bE XrK H$mbrZ {d{Z`moJ (v) H$m` J{V na (vi) IXmZ A{YH$ma (vii) H$meZ erf H$ (viii) XoZXma AWdm {d mr` {d bofU Ho$ _h d H$mo (i) H$_ Mmar `y{Z`Zm|, VWm (ii) boZXmam| Ho$ {bE g_PmBE & Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013 ? (i) Cheques and Bank Drafts in Hand (ii) Loose tools 67/4/1 16 4 4 (iii) Securities Premium Reserve (iv) Long-Term Investments with maturity period less than six months (v) Work-in-Progress (vi) Mining Rights (vii) Publishing titles (viii) Debtors OR Explain the importance of financial analysis for (i) labour unions, and (ii) creditors. 21. {Z Z{b{IV gyMZm H$s ghm`Vm go {~Hw$b {b{_Q>oS> H$m VwbZm _H$ Am`-{ddaU V `ma H$s{OE : {ddaU MmbZm| go AmJ_ 2016 17 2017 18 < < 10,00,000 16,00,000 5,00,000 10,00,000 H$_ Mmar {hVbm^ `` 80,000 40,000 A ` A `j `` 60,000 80,000 Cn^moJ H$s JB gm_J r H$s bmJV Am`H$a Xa 4 40%. Prepare a Comparative Income Statement of Bikul Ltd. with the help of the following information : Particulars Revenue from operations 2016 17 2017 18 < < 10,00,000 16,00,000 5,00,000 10,00,000 Employee benefit expenses 80,000 40,000 Other indirect expenses 60,000 80,000 Cost of materials consumed Income Tax Rate 40%. 67/4/1 17 P.T.O. 22. EH$ H$ nZr H$m MmbZ AZwnmV 80% h & ~VmBE {H$ {Z Z boZXoZm| _| `h AZwnmV ~ T>oJm, KQ>oJm AWdm AZwnmV _| H$moB n[adV Z Zht AmEJm : (i) CYma na _mb H$m H $` < 20,000 (ii) _ OX ar H$m ^wJVmZ < 5,000 (iii) < 8,000, 9% G$Un m| H$m emoYZ (iv) < 50,000 ZJX _| _mb H$m {dH $` AWdm {edm {b{_Q>oS> H$s {Z Z{b{IV gyMZm go Hw$b n[ag n{ m`m| na G$U AZwnmV H$s JUZm H$s{OE : g_Vm A e ny Or < 5,00,000 9% nydm {YH$ma A e ny Or < 4,00,000 Wm`r n[ag n{ m`m < 12,00,000 AMb {d{Z`moJ < 1,50,000 g M` Ed Am{Y ` < 2,40,000 Mmby n[ag n{ m`m < 1,90,000 Mmby Xo`VmE < 1,00,000 The operating ratio of a company is 80%. State whether the following transactions will increase, decrease or not change the ratio : (i) Purchased goods on credit < 20,000 (ii) Paid wages < 5,000 (iii) Redeemed < 8,000, 9% debentures (iv) Sold goods < 50,000 for cash OR From the following information of Shiva Ltd., calculate total assets to debt ratio : Equity Share Capital 9% Preference Share Capital 67/4/1 Fixed Assets Non-Current Investments Reserves and Surplus Current Assets Current Liabilities 18 < 5,00,000 < 4,00,000 < 12,00,000 < 1,50,000 < 2,40,000 < 1,90,000 < 1,00,000 4 4 23. 31 _mM , 2017 H$mo Ama.E_. {b{_Q>oS> Ho$ {Z Z{b{IV p W{V {ddaU go EH$ amoH$ S> dmh {ddaU V `ma H$s{OE : Ama.E_. {b{_Q>oS> 31 _mM , 2017 H$mo p W{V {ddaU ZmoQ> g . {ddaU I g_Vm Ed Xo`VmE : 1. A eYmar$ {Z{Y`m : 2. (A) A e ny Or (~) g M` Ed Am{Y ` (bm^-hm{Z {ddaU H$m eof) AMb Xo`VmE : 3. XrK H$mbrZ G$U Mmby Xo`VmE : 1. 2. 6,00,000 1,00,000 2,00,000 1,00,000 1,10,000 95,000 80,000 25,45,000 19,90,000 3 10,10,000 9,00,000 4 2,80,000 2,00,000 5,00,000 1,80,000 1,00,000 2,00,000 1,50,000 3,75,000 6,40,000 25,45,000 19,90,000 5 Hw$b 67/4/1 19 < 7,50,000 2 n[ag n{ m`m : AMb n[ag n{ m`m : (A) Wm`r n[ag n{ m`m : (i) _yV n[ag n{ m`m (ii) A_yV n[ag n{ m`m (~) AMb-{d{Z`moJ Mmby n[ag n{ m`m : (A) _mb-gyMr (~) `mnma m ` (g) amoH$ S> Ed amoH$ S> Vw ` < 10,00,000 Hw$b II 31.3.2016 15,00,000 1 (A) `mnma Xo` (~) A nmd{Y mdYmZ 31.3.2017 6 P.T.O. ImVm| Ho$ ZmoQ >g : ZmoQ> {ddaU g . 1. 2. 3. 4. 5. XrK H$mbrZ G$U : 9% G$Un A nmd{Y mdYmZ : H$a mdYmZ _yV n[ag n{ m`m : bm Q> Ed _erZar EH${ V (g {MV) _y ` mg A_yV n[ag n{ m`m : `m{V amoH$ S> Ed amoH$ S> Vw ` : (i) amoH$ S> h Vo (ii) ~ H$ eof 31.3.2017 31.3.2016 < < 1,00,000 2,00,000 1,00,000 2,00,000 95,000 80,000 95,000 80,000 12,10,000 (2,00,000) 11,40,000 (2,40,000) 10,10,000 9,00,000 2,80,000 2,00,000 2,80,000 2,00,000 70,000 3,05,000 3,50,000 2,90,000 3,75,000 6,40,000 A{V[a $ gyMZm : (i) df Ho$ Xm amZ, EH$ _erZ H$mo, {OgH$s bmJV < 80,000 Wr, VWm {Og na EH${ V (g {MV) _y ` mg < 50,000 Wm, < 30,000 _| ~oMm J`m & (ii) 67/4/1 9% G$Un m| H$m emoYZ 31 _mM , 2017 H$mo 20 {H$`m J`m & The following is the Balance Sheet of R.M. Ltd. as at 31st March, 2017. Prepare a Cash Flow Statement : R.M. Ltd. Balance Sheet as at 31st March, 2017 Note No. Particulars 31.3.2017 31.3.2016 < < I Equity and Liabilities : 1. Shareholder s Funds : (a) Share Capital (b) Reserves and Surplus (Balance in Statement of Profit and Loss) 2. 10,00,000 7,50,000 6,00,000 1,00,000 2,00,000 1,00,000 1,10,000 95,000 80,000 25,45,000 19,90,000 Non-Current Liabilities : Long-term Borrowings 3. 15,00,000 1 Current Liabilities : (a) Trade Payables (b) Short-term Provisions 2 Total II Assets : 1. Non-Current Assets : (a) Fixed Assets : (i) Tangible Assets 3 10,10,000 9,00,000 (ii) Intangible Assets 4 2,80,000 2,00,000 5,00,000 (a) Inventories 1,80,000 1,00,000 (b) Trade Receivables 2,00,000 1,50,000 3,75,000 6,40,000 25,45,000 19,90,000 (b) Non-Current Investments : 2. Current Assets : (c) Cash and Cash Equivalents 5 Total 67/4/1 21 P.T.O. Notes to Accounts : Note No. 1. 2. 3. 4. 5. Particulars 31.3.2017 31.3.2016 < < Long-term Borrowings : 9% Debentures Short-term Provisions : Provision for Tax Tangible Assets : Plant and Machinery Accumulated Depreciation 1,00,000 2,00,000 1,00,000 2,00,000 95,000 95,000 80,000 80,000 12,10,000 11,40,000 (2,00,000) (2,40,000) 10,10,000 9,00,000 2,80,000 2,00,000 2,80,000 2,00,000 70,000 3,05,000 3,50,000 2,90,000 3,75,000 6,40,000 Intangible Assets : Goodwill Cash and Cash Equivalents : (i) Cash in Hand (ii) Bank Balance Additional Information : (i) During the year, a machine costing < 80,000 on which accumulated depreciation was < 50,000 was sold for < 30,000. (ii) 9% Debentures were released on 31st March, 2017. I S> I {dH$ n 2 (A{^H${b boIm H$Z) PART B OPTION 2 (Computerised Accounting) 18. bo~b H$m `m AW h ? What is meant by a Label ? 1 19. bm H$ H$moS >g H$m `m AW h 1 ? What is meant by Block Codes ? 67/4/1 22 20. 4 A{^H${b boIm H$Z V H$s {V WmnZm Ho$ MaUm| H$m C boI H$s{OE & State the steps in the installation of computerised accounting system. 21. S>o H$Q>m n S>oQ>m~og VWm gd a S>oQ>m~og _| A V^}X H$s{OE & AWdm 4 EH$ A N>o boIm H$Z gm Q>do`a H$s {deofVmAm| H$m C boI H$s{OE & 4 Differentiate between desktop database and server database ? OR State the features of a good accounting software. 22. boIm H$Z gm Q>do`a _| gwajm {deofVmAm| H$m hmoZm `m| Amd `H$ h {d{Y`m| H$mo g_PmBE Omo S>oQ>m gwajm XmZ H$aVr h & AWdm ? Eogr {H$ ht Xmo 4 Cg _y ` H$m Zm_ ~VmBE Omo S>oQ>m H$s AZwnp W{V H$mo VwV H$aVm h & Cg p W{V H$m ^r C boI H$s{OE {Og_| BZ _y `m| Ho$ Cn`moJ H$s Amd `H$Vm n S> gH$Vr h & 4 Why is it necessary to have safety features in accounting software ? Explain any two tools which provide data security. OR Name the value which represents absence of data. Also state the situation which may require the use of these values. 23. {ZgmZ {b{_Q>oS> Zo < 1,50,000 _| EH$ E ~moqgJ _erZ H$m H $` {H$`m & C hm|Zo BgH$s WmnZm Ed n[adhZ `` Ho$ $n _| < 50,000 H$m ^wJVmZ {H$`m & `h _mZVo h E {H$ 5 dfm] Ho$ A V _| BgH$m H$~m S> ({Z VmaU) _y ` < 25,000 hmoJm, Wm`r {H$ V (grYr aoIm) {d{Y H$m `moJ H$aVo h E BgHo$ _y ` mg H$s JUZm H$s{OE VWm E_.Eg. Eo gb _| \$m_y bo H$m Cn`moJ H$aVo h E BgH$s Xa H$s JUZm ^r H$s{OE & 6 Nisan Ltd. purchased an embossing machine for < 1,50,000. They paid < 50,000 as installation and transport expenses. Assuming its salvage value at the end of 5 years as < 25,000, calculate depreciation by using Straight Line Method and its rate using formulas in MS Excel. 67/4/1 23 P.T.O.

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