1 Code No.

: 30 (NS)

II PUC ACCOUNTANCY
MARCH 2020
SCHEME OF VALUATION
Subject Code : 30 (NS)
Qn. Marks
No.

SECTION-A
1
1. True
1
2. Unlimited

3. Old partnership is reconstituted (C) 1

1
4. 5 : 3

5. Nonpayment of allotment money and / or call money 1

1
6. Yes

7. Cash at Bank, Cash in Hand (any other, anyone) 1

8. All the Above (D) 1

9. Earning per share 1
Inflow and Outflow of cash and cash equivalents from various
1
10. activities of a company during a specific period
SECTION-B

Qn. Marks
No.

11. a) Summary of Cash Book

b) Includes both Capital and Revenue items (1+1)
(any other, any two)
 2 Code No.: 30 (NS)

a) Fixed Capital Method (1+1)

12. b) Fluctuating Capital Method

a) Right to share the assets of the partnership firm (1+1)

13. b) Right to share the profits of the partnership firm

Realization account Dr. (1+1)

14. To. Cash or Bank account
(Payment of unrecorded liabilities)
a) Authorized capital (1+1)
15. b) Issued capital
(Any other, any two)
a) Balance Sheet (Position statement) (1+1)
16. b) Statement of Profit and Loss or Income Statement
c) Cash flow statement
(Any two)

a) Top Management (1+1)

17. b) Investors
(Any other, any two)

a) Operating Activities (1+1)

18. b) Investing Activities
c) Financing Activities
(Any two)
(Any other any two)
 3 Code No.: 30 (NS)

Qn.
Marks
No.
SECTION-C

19. Statement Showing Calculation of interest on drawings: 6

Date Amount No of Outstanding Product
(4
months
+
01.04.2018 5,000 12 60,000
1
72,000 +
30.06.2018 8,000 9
1)
01.12.2018 3,000 4 12,000

31.03.2019 2,000 0 -
1,44,000
IOD = Sum of Products X Rate of interest X 1/12
= 1,44,000 X 10/100 X 1/12 = 1,200

20. Calculation of Gain ratio 6

(1
Share gained = New share – Old share
+
2
𝟓 𝟑 𝟒𝟓−𝟐𝟒 𝟐𝟏 +
Raksha = - = = 2
𝟖 𝟗 𝟕𝟐 𝟕𝟐
+
𝟑 𝟐 𝟐𝟕−𝟏𝟔 𝟏𝟏
1)
Rahul = - = =
𝟖 𝟗 𝟕𝟐 𝟕𝟐

Gain ratio of Raksha and Rahul = 21:11

 4 Code No.: 30 (NS)

Arun’s Capital Account

Dr. Cr.
Particulars Amount Particulars Amount 6
21. Balance b/d 25,000
General 2,000 Each
Reserve item
Commission 2,400 carries
1
Varun 3,000 Mark
Capital
Tarun 3,000
Capital
Profit and 12,000
loss
Suspense
Arun 47,400
Executor a/c
47,400 47,400
Note: If Student had done goodwill treatment in old method also be
considered for the marks.

Books of Hindustan Company Limited

Journal

22. Date Particulars L/F Amount Amount 6

1 Bank A/c Dr 40,000
To 10% Debenture application A/c 40,000 1
(Receipt of Application money on Mark
Debentures) for
2 10% Debenture application A/c Dr 40,000 each
To 10% Debenture A/c 40,000 entry
(Transfer of application money to
Debenture A/c)
3 10% Debenture allotment A/c Dr 80,000
To 10% Debenture A/c 80,000
(Allotment money due on debentures)
4 Bank account Dr 80,000
To 10% Debenture allotment A/c 80,000
(Receipt of allotment money on
debentures)
5 10% Debenture First and final call A/c Dr 80,000
To 10% Debenture A/c 80,000
(First and Final call due on Debentures)
6 Bank A/c Dr 80,000
To 10% Debenture First and final call A/c 80,000
(Receipt of First and Final call money)
 5 Code No.: 30 (NS)

Statement of Profit and Loss for the year ending 31.03.2019

23.
Particulars Note Amount
No. (Rs.) 6
I. Income (2 +
Revenue from operations 8,00,000 2+
Other income 50,000 2)
Total Revenue 8,50,000
II. Expenses
Cost of materials consumed 2,00,000
Employee benefit expenses 1,00,000
Depreciation and Amortization 50,000
Total Expenses 3,50,000
Profit before Tax (I – II) 5,00,000
Less Tax expense 1,50,000
Profit after Tax 3,50,000

𝑪𝒖𝒓𝒓𝒆𝒏𝒕 𝒂𝒔𝒔𝒆𝒕𝒔 𝟏,𝟑𝟒,𝟎𝟎𝟎

Current ratio = = = 1.29 : 1 6
𝑪𝒖𝒓𝒆𝒏𝒕 𝒍𝒊𝒂𝒃𝒊𝒍𝒊𝒕𝒊𝒆𝒔 𝟏,𝟎𝟒,𝟎𝟎𝟎
24.
(3 +3)

𝑸𝒖𝒊𝒄𝒌 𝒂𝒔𝒔𝒆𝒕𝒔 𝟖𝟎,𝟎𝟎𝟎

Quick ratio = = = 0.77 : 1
𝑪𝒖𝒓𝒆𝒏𝒕 𝒍𝒊𝒂𝒃𝒊𝒍𝒊𝒕𝒊𝒆𝒔 𝟏,𝟎𝟒,𝟎𝟎𝟎

Cash flows from financing activities

Particulars Amount 6
25. Proceeds from Issue of share capital 5,00,000
Redemption of debentures (2,00,000) 1
Proceeds from raising Bank loan 1,00,000 Mark
Dividend paid (1,50,000) for
Dividend tax paid (15,000) each
Net cash inflow from financing activities 2,35,000
6,00,000 - 3,65,000
 6 Code No.: 30 (NS)
Qn.
Marks
No.
SECTION-D

Book of Unity Club

26. Income and Expenditure Account for the year ending 31.03.2019
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
Rent 6,600 Subscriptions 32,500 12
- last year 100 - last year 500
outstanding outstanding
6,500 32,000
(6+6)
+ current year 500 7,000 + current year 750 32,750
outstanding outstanding
Lecturer’s fee 3,900 Profit from 7,250
entertainment
Printing and 2,500 Interest received 1,100
stationery
Depreciate
furniture
3,000X10/100 300
9,900X10/100X6/12 495 795
Depreciate books 200
2,000X10/100
Surplus 26,705
41,100 41,100

Balance Sheet of Unity Club as on 31.03.2019

Liabilities Amount Amount Assets Amount Amount
Capital Fund 27,600 Building 20,000
+Life Membership fee 3,250 Furniture 3,000
+Purchase 9,900
12,900
-Dep 795 12,105
+Donation 2,500 Books 2,000
+Purchase 8,400
10,400
-Dep 200 10,200
+Surplus 27,705 60,055 Cash in hand 17,500
Outstanding Rent 500 Outstanding 750
subscription
60,555 60,555
 7 Code No.: 30 (NS)

Books of Sheetal and Sharath

Revaluation account
Dr. Cr.
27. Particulars Amount Particulars Amount
12
Stock 2,000 Land and 5,000
building
(20,000X10/100) (25,000X20/100)
(3
+
PDD 800 Creditors 1,800 5
(16,000X5/100) +
4)

Partners’ capital A/c 4,000

Sheetal Capital 3,000
Sharath Capital 1,000

6,800 6,800

Partners’ capital account

Dr. Cr.
Particulars Sheetal Sharath Renu Particulars Sheetal Sharath Renu
Bank A/c 3,000 1,000 0 Balance b/d 30,000 16,000
Reserve fund 3,000 1,000
Revaluation 3,000 1,000
A/c
Bank A/c 15,000
Balance 39,000 19,000 15,000 Goodwill A/c 6,000 2,000
c/d
42,000 20,000 15,000 42,000 20,000 15,000
Note: If Student had done goodwill treatment as per AS 26 also be
considered for the marks.

Balance Sheet of Sheetal , Sharath and Renu as on 01.04.2019

Liabilities Amount Amount Assets Amount Amount

Creditors 46,000 Cash at Bank 30,000
-Written off 1,800 44,200
Capitals +Goodwill 4,000
Sheetal 39,000 +Renu Cap 15,000 49,000
Sharath 19,000 Bill receivable 4,000
Renu 15,000 Debtors 16,000
-PDD 800 15,200
Stock 20,000
-Depreciation 2,000 18,000
Furniture 1,000
Land & Building 25,000
+Appreciation 5,000 30,000
1,17,200 1,17,200
 8 Code No.: 30 (NS)

Books of Anup and Sumit

Realisation A/c
28.
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
Sundry debtors 12,000 Creditors 30,000 12
Machinery 47,000 Loan 40,000
Stock 42,000 Bank A/c
Land and Building 60,000 Land and Building 72,000
Furniture 25,000 Furniture 22,500 (6
Stock 40,500 +
Bank A/c Machinery 4
25,500 48,000 +
Creditors Sundry
Loan 40,000 65,500 Debtors 10,500 1,93,500 2)

Bank A/c 2,500

Profit trans to
Partners’ Capital A/c
Anup - 4,750 9,500
Sumit - 4,750
2,63,500 2,63,500

Partners’ Capital Accounts

Dr. Cr.
Particulars Anup Sumit Particulars Anup Sumit
Bank A/c 69,750 69,750 Balance b/d 60,000 60,000
(Bal. Fig.) Reserve fund 5,000 5,000
Realisation A/c 4,750 4,750

Total 69,750 69,750 Total 69,750 69,750

Bank Account
Dr. Cr.
Particulars Amount Particulars Amount
Balance b/d 14,000 Realization A/c 65,500
(Liabilities paid)
Realization A/c 2,500
(Expenses paid)
Realization A/c 1,93,500 Capital Accounts
(Assets realized)
Anup 69,750
Sumit 69,750
2,07,500 2,07,500
 9 Code No.: 30 (NS)

Books of Arushi Computers Ltd.

Journal
29. Date Particulars L.F Debit Credit 12
₹ ₹
1 Bank A/c Dr. 3,00,000
To Equity Share Application A/c 3,00,000
(Application money received on 10,000 shares
of ₹3 per share)
Equity Share Application A/c Dr. 3,00,000
2
To Equity Share Capital A/c 3,00,000
(Application money transferred to share capital
account)
Equity Share Allotment A/c Dr. 5,00,000
3 4,00,000
To Equity Share Capital A/c
To Securities Premium A/c 1,00,000
(Allotment money due on 10,000 shares
at ₹ 50 per share including premium)
4
Bank A/c Dr. 5,00,000
To Equity Share Allotment A/c 5,00,000
(Allotment money received)
5 Equity Share First and final Call A/c. Dr. 3,00,000
To Equity Share Capital A/c 3,00,000
(First call money due on 10,000 shares at ₹ 30
per share)
6 Bank A/c Dr. 2,85,000
To Equity Share First & Final call A/c 2,85,000
(First & final call money received on 9,500
shares ₹30 per share)
Equity Share Capital A/c Dr. 50,000
7
To Share Forfeiture A/c 35,000
To Equity Share Final Call A/c 15,000
(Forfeiture of 500 shares for the non-
payment of first and final call)
8 Bank A/c Dr. 40,000
Share Forfeiture A/c Dr. 10,000
To Equity Share Capital A/c. 50,000
(Re-issue of 500 forfeited shares at
₹ 80 fully paid up)
9 Share Forfeiture A/c Dr. 25,000
To Capital Reserve A/c. 25,000
(Profit on reissue of 500 forfeited shares
transferred to capital reserve account
( 35,000 -10,000 )
Simple entries carry 1 mark, Compound entries carry 2 marks
 10 Code No.: 30 (NS)

Books of Alpha Company Ltd.

Journal

30. Date Particulars L.F Debit Credit 12

₹ ₹
1 Bank A/c Dr. 10,00,000
To 12% Debenture Application & Allotment A/c 10,00,000
(Application money received)
2
12% Debenture Application & Allotment A/c Dr. 10,00,000
Loss on issue of Debentures A/c Dr. 50,000
To 12% Debentures A/c 10,00,000
To Premium on redemption of debentures Ac/ 50,000
(Application money transferred to debentures A/c)

1 Bank A/c Dr. 9,00,000

To 12% Debentures Application & Allotment A/c 9,00,000
(Application money received)
2 12% Debenture Application & Allotment A/c Dr. 9,00,000
Discount on issue of Debentures A/c Dr. 1,00,000
To 12% Debentures A/c 10,00,000
(Application money transferred to debentures
A/c)
Bank A/c Dr. 10,50,000
1
To 12% Debenture Application & Allotment A/c 10,50,000
(Application money received)
2 12% Debenture Application & Allotment A/c Dr. 10,50,000
10,00,000
To 12% Debentures A/c
50,000
To Securities Premium A/c
(Application money transferred to debentures A/c)
1 Bank A/c Dr. 10,00,000
To 12% Debentures Application & Allotment A/c 10,00,000
(Application money received)
12% Debenture Application & Allotment A/c Dr. 10,00,000
2
To 12% Debentures A/c
10,00,000
(Application money transferred to debentures A/c)

Simple entries carry 1 mark, Compound entries carry 2 marks, Complex

entries carry 3 marks
 11 Code No.: 30 (NS)

Comparative Balance Sheet of Adeepa Co. Ltd. as at 31/03/2018 & 31/03/2019

31.
Particulars 31/03/2018 31/03/2019 Absolute Percentage
Increase (+) Increase (+) 12
or or
Decrease (-) Decrease (-)
₹ ₹ ₹ %
Equity and Liabilities
Shareholders’ Fund
Equity Share Capital 5,00,000 8,00,000 3,00,000 60.00
Reserves and surplus 1,50,000 2,50,000 1,00,000 66.67
Non-Current Liabilities
Long term borrowings 2,00,000 1,50,000 -50,000 -25.00
Current Liabilities
Trade payables 1,00,000 2,00,000 1,00,000 100.00
Other current liabilities 50,000 1,00,000 50,000 100.00
Total 10,00,000 15,00,000 5,00,000 50.00
Assets
Non-Current Assets
Fixed assets 3,00,000 5,00,000 2,00,000 66.67
Non-current investments 1,50,000 2,00,000 50,000 33.33
Current Assets
Inventories 2,50,000 3,50,000 1,00,000 40.00
Trade receivables 2,00,000 2,50,000 50,000 25.00
Cash & Cash equivalents 1,00,000 2,00,000 1,00,000 100.00
Total 10,00,000 15,00,000 5,00,000 50.00
Each item 1 Mark, 1 x 10 = 10 + 2 Marks for format = 12 Marks

Calculation of Ratios are as follows:

𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎 12

32. a) Net assets turnover ratio = 𝑪𝒂𝒑𝒊𝒕𝒂𝒍 𝑬𝒎𝒑𝒍𝒐𝒚𝒆𝒅 =
𝟏𝟖,𝟎𝟎,𝟎𝟎𝟎
= 1.11 times

𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎

b) Fixed assets turnover ratio = = = 1.25 times
𝑵𝒆𝒕 𝑭𝒊𝒙𝒆𝒅 𝒂𝒔𝒔𝒆𝒕𝒔 𝟏𝟔,𝟎𝟎,𝟎𝟎𝟎

𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎

c) Working capital turnover ratio = = = 10 times
𝑾𝒐𝒓𝒌𝒊𝒏𝒈𝒄𝒂𝒑𝒊𝒕𝒂𝒍 𝟐,𝟎𝟎,𝟎𝟎𝟎

𝑮𝒓𝒐𝒔𝒔 𝑷𝒓𝒐𝒇𝒊𝒕 𝟏𝟐,𝟎𝟎,𝟎𝟎𝟎

d) Gross profit ratio = x 100 = x 100 = 60%
𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎

𝑵𝒆𝒕 𝑷𝒓𝒐𝒇𝒊𝒕 𝟒,𝟎𝟎,𝟎𝟎𝟎

e) Net profit ratio = x 100 = x 100 = 20%
𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎

𝑶𝒑𝒆𝒓𝒂𝒕𝒊𝒏𝒈 𝑪𝒐𝒔𝒕 𝟗,𝟎𝟎,𝟎𝟎𝟎

f) Operating ratio = x 100 = x 100 = 45%
𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝒇𝒓𝒐𝒎 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝟐𝟎,𝟎𝟎,𝟎𝟎𝟎

Each ratio carries 2 marks = 2 x 6 = 12 Marks

 12 Code No.: 30 (NS)
Qn.
Mar
No.
ks
SECTION-E
(Practical Oriented Questions)

Classify the following into capital and revenue items.

a) Legacies - Capital
33. b) Purchase of computer - Capital
5
c) Subscription - Revenue
d) Honorarium - Revenue
e) Purchase of stationery – Revenue

Each carries one mark

B’s Executors Loan A/c

34. 5
Date Particulars ₹ Date Particulars ₹
31.03.2018 To Bank A/c 12,000 01.04.2017 By B’s Capital A/c 20,000
(10,000+2,000) By Interest A/c 2,000
31.03.2018
31.03.2018 To Balance C/d 10,000

22,000 22,000
31.03.2019 To Bank A/c 11,000 01.04.2018 By Balance b/d 10,000
(10,000+1,000) By Interest A/c 1,000
31.03.2019
11,000 11,000

Cash flow from operating activities (Direct method)

35. 5
Particulars ₹
Cash Flows from Operating Activities:
Cash receipts from customers XXX

(-) Cash Paid to Suppliers and employees (XXX)

= Cash generated from operations XXX
(-) Income tax paid (XXX)
= Cash flow before extraordinary items XXX
+/- Extra Ordinary items XXX
XXXX
= Net Cash from operating activities