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MODEL PAPER
ACCOUNTANCY
Marking Scheme
Std: XII Maximum Marks:80
Time allowed:3hrs
1 B 1mark
2 7 ½ months 1 mark
3. d. No entry will be passed 1 mark
4. d. Interest on Partner’s loan
1 mark
5. b.B 1 mark
6. d. All the above 1 mark
7. d.
1 mark
8. c. To record the Profit and Loss a/c (Dr.)
1mark
9. b. Capital accounts of partners 1 mark
10. Rs.5500 1 mark
11. Rs.49,000 1 mark
12. Reconstitution 1 mark
13. C.Liabilities side of the Balance sheet 1 mark
14.
Net amount of Subscription shown in the Income and
Expenditure a/c Rs.2,01,800.
OR
Net amount of Tournament Fund shown on the liabilities side of
the Balance sheet Rs.1,92,000.
3marks
15. Profit remaining after allowing interest on capital and salary will 4 marks
be Rs.5,04,000-Rs.2,04,000- Rs.1,32,000=Rs.1,68,000
Adjustment entry:-
Mohan’s Current a/c Dr 38,000
To Ravi’s Current a/c 38,000
OR
Bank a/c Dr
Share Forfeiture a/c Dr 900
To Share Capital a/c 3,000
(Re-issue of 300 forfeited shares @Rs. 7 each)
(1 *8=8mark)
2018 Reserve fund a/c Dr 6,000
April1 To A’s capital a/c 3000
To B’s capital a/c 1800
To C’s Capital a/c 1200
OR
Capital reserve Rs.2,800
Balance sheet total Rs.5,01,600