1.

Al
lquest
ionsar
ecompul
sor
y:-
a.Whi
choft
hef
oll
owi
ngi
snotar
evenuer
ecei
pt?

i
.Donat
ionf
orbui
l
ding. i
i
.Gov
ernmentgr
ant
s

i
i
i.Subscr
ipt
ion. i
v.Sal
eofol
dnewspaper

b.Tour
namentf
undi
nvest
menti
sappeari
n..
..
..
..
..
..
..si
deofbal
ancesheet
.

c.M NandOar
epart
nerinwit
houtpartner
shi
pdeed.Theprof
itonval
uati
onont
hedatewas
12000t
henewrat
ioi
s3:2rat
io.M r
eti
redfrom t
hef
irm.howthispr
ofi
tshoul
dbeshar
ed:-

i
.i
nEqual
l
yrat
io. i
i
.innewr
ati
o i
i
i.i
nremai
ningpar
tner
s i
v.Bot
h(i
i
)and(
ii
i)

d.whatwi
l
lbet
het
reat
mentofr
eser
veatt
het
imeofr
eti
rementofapar
tner?

It
ransf
ert
orev
aluat
iona/
c. i
i
.tr
ansf
ert
ocapi
tal
.

i
i
i.hol
dbyr
emai
ningpar
tner
s i
v.noneoft
hese. (
1*4=4)

2.Subscr
ipt
ionsr
ecei
veddur
ingt
hey
earendedMar
ch31,
2015,
byI
ndusCl
ubwer
easunder:

par
ti
cul
ar Amout

2013-
14 3000

2014-
15 93000

2015-
16 2000

Theclubhas500member seachpayi
ngRs.200asanannual subscr
ipt
ion.Subscr
ipt
ion
outst
andingasof31-3-
14wasRs.6,000.Calcul
atetheamountofsubscri
pti
ontobeshownas
i
ncomei ntheincomeandexpendit
ureaccountfort
heyearended31Mar ch2015andshowthe
rel
evantdatai
nt heBal
anceSheeton31-3-
2014and2015.

3.whatwi
llbethetr
eatmentf
orv
aluedGoodwi
l
landbookGoodwi
l
latt
het
imeofr
eti
rement?
Passthej
ournalent
ri
es.

4.Surender,Ramesh, Nar
eshandMohanar epart
ner
sinafir
m sharingprofit
sinther
ati
oof2:
1:
2:1.Ont hereti
rementofNaresh,
theGoodwill
wasvaluedat72,000.Surender,
Rameshand
Mohandeci dedt osharef
utur
eprofi
tsequal
ly
.PassthenecessaryJournalEntr
yfort
he
tr
eatmentofgoodwi l
l
.

5.Di
scussanyt
hreedi
ff
erencebet
weenRecei
ptsandI
ncome. (
4*2=8)
At
temptt
woquest
ionsoutoft
hree
6.(
i).Gi
venbel
owist
heRecei
ptsandPay
ment
sAccountofCl
ubf
ort
hey
earendi
ng31st
December2018:

(
ii
).Thef
oll
owingist
heBal
ancesheetofX,
YandZason31-
03-
2018whoshar
epr
ofi
tandl
oss
i
ntherat
ioof3:3:
2.

On1stApr
il
,2018,
Ydeci
dedt
oret
ir
efr
om t
hef
orm ont
hef
oll
owi
ngt
erms:

i
.St
ockt
obedepr
eci
atedby6000

i
i
.Fi
xedasset
sappr
eci
atedby10%

i
i
i.Pr
ovi
sionofdoubt
ful
debt
stobei
ncr
easedt
o3000

i
v.Goodwi
l
loft
hef
ir
mval
uedatRS40000andamountt
obeadj
ust
edi
ncont
inuepar
tner
sfora
r
eval
uat
ionaccountpar
tner
shi
paccountandbal
ancesheet
.

(
ii
i)
.Di
ff
erencebet
weenRecei
pts&Pay
menta/
candI
ncome&Expendi
tur
ea/
c. (
2*4=8)

Sect
ion-
B

Al
lquest
ionsar
ecompul
sor
y:-
7.(
i)
.Ini
ncomesi
zei
ncomest
atementr
ati
oofeachi
tem i
scal
cul
atedont
hebasi
sof.
..
..
..

(
ii
).Acompanysharehol
der
'sfunds9lakhi
n2020andi
tisdecr
easedt
o6l
akhi
n2021whati
s
t
hepercent
ageoftheabsol
utechange.

(
ii
i)
.Nameanyt
wocashequi
val
ent
sit
ems.

(
iv)
.Nameanyt
wot
ool
sofanal
ysi
soff
inanci
alst
atement
s. (
4*1=4)

8.l
i
mit
ati
onofcompar
ati
vef
inanci
alst
atement
s.

9.Prepar
ecompar
ati
vei
ncomestat
ementofBSNLsandal
li
mit
edf
ort
hey
earendi
ng31st
March2019and31stMar
ch2020.

par
ti
cul
ars 31-
3-2020 31-
03_
2019

sal
es 4,
00,
000 6,
00,
000

costofsal
esi
ndi
rect 2,
50,
000 3,
20,
000
expenses
80,
000 1,
00,
000
i
ncomet
ax
50% 50%

10.f
rom t
hef
oll
owi
ngdat
apr
epar
ecommonsi
zebal
ancesheetofMaxl
i
mit
ed.
11.Di
scusst
hemeani
ngandobj
ect
ivesofcommonSi
zest
atement
s. (
4*2=8)

At
temptanyt
wof
rom t
hree
(I
).f
rom t
hefol
l
owingBal
ancesheetofReynol
dsLi
mit
edasat31stMar
ch2018and31stMar
ch
2019.pr
epar
ethecompar
ati
veBalancesheet.

(i
i
).Fr
om t
hefol
l
owingi
nfor
mati
onpr
epar
ethecommonsi
zei
ncomest
atementy
aarendi
ng
31stMar
ch2016and31stMar
ch.
(
ii
i)
.Di
scussi
nbr
ieft
hemeani
ng,
mer
it
sanddemer
it
sofcompar
ati
vest
atement
. (
2*4=8)