12 Accountancy Lyp 2020 s3

H$moS> Z§.
Code No. 67/3/1

amob Z§. narjmWu H$moS >H$mo CÎma-nwpñVH$m Ho$ _wI-n¥ð
Roll No. >na Adí` {bIo§ &
Candidates must write the Code on the
title page of the answer-book.
ZmoQ> NOTE
(I) H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _o§ _w{ÐV (I) Please check that this question
n¥ð> 39 h¢ & paper contains 39 printed pages.
(II) àíZ-nÌ _| Xm{hZo hmW H$s Amoa {XE JE H$moS (II) Code number given on the right
>Zå~a H$mo N>mÌ CÎma-nwpñVH$m Ho$ _wI-n¥ð> na hand side of the question paper
{bI| & should be written on the title page of
the answer-book by the candidate.
(III) H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _| (III) Please check that this question
>32 àíZ h¢ & paper contains 32 questions.
(IV) H¥$n`m àíZ H$m CÎma {bIZm ewê$ H$aZo go (IV) Please write down the Serial
nhbo, CÎma-nwpñVH$m _| àíZ H$m H«$_m§H$ Number of the question in the
Adí` {bI| & answer-book before attempting it.
(V) Bg àíZ-nÌ H$mo n‹T>Zo Ho$ {bE 15 {_ZQ >H$m (V) 15 minute time has been allotted to
g_` {X`m J`m h¡ & àíZ-nÌ H$m {dVaU read this question paper. The
nydm©• _| 10.15 ~Oo {H$`m OmEJm & question paper will be distributed
10.15 ~Oo go 10.30 ~Oo VH$ N>mÌ Ho$db at 10.15 a.m. From 10.15 a.m. to
10.30 a.m., the students will read the
àíZ-nÌ H$mo n‹T>|Jo Am¡a Bg Ad{Y Ho$ Xm¡amZ question paper only and will not
do CÎma-nwpñVH$m na H$moB© CÎma Zht {bI|Jo & write any answer on the
answer-book during this period.
boImemñÌ
ACCOUNTANCY
{ZYm©[aV g_` : 3 KÊQ>o A{YH$V_ A§H$ : 80

Time allowed : 3 hours Maximum Marks : 80
.67/3/1 1 P.T.O.
gm_mÝ` {ZX}e :
{ZåZ{b{IV {ZX}em| H$mo ~hþV gmdYmZr go n{‹T>E Am¡a CZH$m nyar Vah go nmbZ H$s{OE :
(i) àíZ-nÌ Xmo ^mJm| _§| {d^m{OV {H$`m J`m h¡ – ^mJ H$ Ed§ ^mJ I & Bg àíZ-nÌ _|
32 àíZ h¢ & g^r àíZ A{Zdm`© h¢ &
(ii) ^mJ H$ g^r narjm{W©`m| Ho$ {bE A{Zdm`© h¡ &
(iii) ^mJ I _| Xmo {dH$ën {XE JE h¢ (1) {dÎmr` {ddaUm| H$m {díbofU VWm (2) A{^H${bÌ
boIm§H$Z & Bg_| {XE JE {dH$ënm| _| go Amn {H$gr EH$ {dH$ën Ho$ àíZm| Ho$ CÎma {b{IE &
(iv) M`{ZV {dH$ën Ho$ àíZm| H$m CÎma Amaå^ H$aZo go nyd© CÎma-nwpñVH$m na M`Z {H$E JE
{dH$ën H$m erf©H$ Adí` {b{IE &
(v) àíZ g§»`m 1 go 13 VWm 23 go 29 VH$ A{V bKw-CÎmar` àH$ma Ho$ àíZ h¢, àËòH$ àíZ
1 A§H$ H$m h¡ &
(vi) àíZ g§»`m 14 Am¡a 30 VH$ bKw-CÎmar` àH$ma–I Ho$ àíZ h¢, àËòH$ àíZ 3 A§H$m| H$m h¡ &
(vii) àíZ g§»`m 15 go 18 VWm 31 bKw-CÎmar` àH$ma–II Ho$ àíZ h¢, àËòH$ àíZ 4 A§H$m| H$m h¡ &
(viii) àíZ g§»`m 19, 20 VWm 32 XrK©-CÎmar` àH$ma–I Ho$ àíZ h¢, àËòH$ àíZ 6 A§H$m| H$m h¡ &
(ix) àíZ g§»`m 21 Am¡a 22 XrK©-CÎmar` àH$ma–II Ho$ àíZ h¢, àËòH$ àíZ 8 A§H$m| H$m h¡ &
(x) CÎma g§{já VWm q~Xþdma hmoZo Mm{hE & {H$gr ^mJ> Ho$ g^r àíZm| Ho$ CÎma EH$ hr ñWmZ na
{bIo OmZo Mm{hE &
(xi) H$moB© g_J« {dH$ën Zht h¡ & hmbm§{H$ VrZ-VrZ A§H$m| dmbo 2 àíZm| _§o, Mma-Mma$ A§H$m| dmbo
2 àíZm| _§o, N>:-N>: A§H$m| dmbo 1 àíZ _§o Am¡a AmR>-AmR> A§H$m| dmbo 2 àíZm| _§o Am§V[aH$
{dH$ën {X`m J`m h¡ & AmnH$mo Eogo àíZm| _| Ho$db EH$ hr {dH$ën H$m CÎma XoZm h¡ &
(xii) BgHo$ A{V[aº$, Amdí`H$VmZwgma, àËòH$ ^mJ> Am¡a àíZ Ho$ gmW AbJ-AbJ `Wmo{MV
{ZX}e {XE JE h¢ &
^mJ> H$
(Abm^H$mar g§JR>Zm|, gmPoXmar \$_m] VWm H$ån{Z`m| Ho$ {bE boIm§H$Z)
1. nwZrV VWm XrnH$ gmPoXmar _| Wo VWm 2 : 1 Ho$ AZwnmV _o| bm^-hm{Z ~m±Q>Vo Wo & CÝhm|Zo
_mÝ`m H$mo EH$ ZE gmPoXma Ho$ ê$n _| àdoe {X`m & _mÝ`m »`m{V àr{_`_ Ho$ AnZo ^mJ Ho$
{bE < 1,00,000 bmB©, {Ogo nyU© ê$n go nwZrV Ho$ ny±Or ImVo _| Ho«${S>Q> H$a {X`m J`m &
àdoe H$s {V{W H$mo \$_© H$s »`m{V H$m _yë`m§H$Z < 3,00,000 {H$`m J`m & nwZrV, XrnH$
VWm _mÝ`m Ho$ ZE bm^ {d^mOZ AZwnmV H$s JUZm H$s{OE & 1
.67/3/1 2
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. Puneet and Deepak were in partnership sharing profits and losses in the
ratio of 2 : 1. They admitted Manya as a new partner. Manya brought
< 1,00,000 as her share of goodwill premium, which was entirely credited
to Puneet’s capital account. On the date of admission, goodwill of the firm
was valued at < 3,00,000. Calculate the new profit sharing ratio of
Puneet, Deepak and Manya. 1
.67/3/1 3 P.T.O.
2. {ZåZ _§| go H$m¡Z-gr ny±OrJV àm{á h¡ ? 1
(A) MÝXm
(B) Cn`moJ H$s JB© IobHy$X gm_J«r H$s {~H«$s
(C) ~ÝXmo~ñVr H$mof
(D) àdoe ewëH$
3. A{^XÎm ny±Or hmoVr h¡ : 1
(A) n§OrH¥$V ny±Or H$m dh ^mJ {Ogo OZVm H$mo A{^XmZ Ho$ {bE {ZJ©{_V {H$`m J`m h¡ &
(B) {ZJ©{_V ny±Or H$m dh ^mJ Omo dmñVd _| OZVm Ûmam A{^XÎm {H$`m J`m h¡ &
(C) A{^XÎm ny±Or H$m dh ^mJ {Ogo A§em| Ho$ {bE _m±Jm J`m h¡ &
(D) A{^XÎm ny±Or H$m dh ^mJ {Ogo A§em| Ho$ {bE A^r VH$ _m±Jm Zht J`m h¡ &
4. AemoH$ VWm gwYm EH$ \$_© Ho$ gmPoXma Wo VWm 3:1 Ho$ AZwnmV _o| bm^-hm{Z ~m±Q>Vo Wo &
1
CÝhm|Zo ~mZr H$mo EH$ ZE gmPoXma Ho$ ê$n _| àdoe {X`m & AemoH$ Zo AnZo ^mJ H$m dm±
4
1
^mJ VWm gwYm Zo AnZo ^mJ H$m dm± ^mJ ~mZr Ho$ nj _| Ë`mJ {X`m & \$_© Ho$ bm^m| _|
4
~mZr H$m ^mJ hmoJm : 1
5
(A)
8
1
(B)
8
1
(C)
4
7
(D)
16
5. {ZåZ _| go H$m¡Z-gm H$WZ àm{á VWm ^wJVmZ ImVo Ho$ {bE ghr Zht h¡ ? 1
(A) `h amoH$‹S> ~hr H$m gmam§e h¡ &
(B) `h Ho$db Am`JV àH¥${V H$s à{á`m| VWm ^wJVmZm| H$m boIm H$aVm h¡ &
(C) àm{á`m± VWm ^wJVmZ Mmby df©, {nN>bo df© AWdm AmZo dmbr Ad{Y`m| go gå~pÝYV
hmo gH$Vo h¢ &
(D) Bg_§o _yë`õmg Zht Xem©`m OmVm &
6. A{^XÎm ny±Or H$m dh ^mJ Omo A^r VH$ _m±Jm Zht J`m h¡ ___________ H$hbmVm h¡ & 1
.67/3/1 4
2. Which of the following is a capital receipt ? 1
(A) Subscriptions
(B) Sale of used sports material
(C) Endowment fund
(D) Entrance fees
3. Subscribed capital is : 1
(A) That part of authorised capital which is issued to the public for
subscription.
(B) That part of issued capital which has been actually subscribed by
the public.
(C) That part of subscribed capital which has been called up on the
shares.
(D) That part of subscribed capital which has not yet been called up on
the shares.
4. Ashok and Sudha were partners in a firm sharing profits and losses in
the ratio of 3 : 1. They admitted Bani as a new partner. Ashok sacrificed
1 th 1
of his share and Sudha sacrificed th of her share is favour of Bani.
4 4
Bani’s share in the profits of the firm will be : 1
5
(A)
8
1
(B)
8
1
(C)
4
7
(D)
16
5. Which of the following statements is not true for Receipts and Payments
Account ? 1
(A) It is a summary of the Cash Book.
(B) It records receipts and payments of revenue nature only.
(C) The receipts and payments may relate to current, preceding, or
succeeding accounting periods.
(D) Depreciation is not shown in it.
6. That part of the subscribed capital which has not yet been called is
known as ___________ . 1
.67/3/1 5 P.T.O.
7. aOV, _rer VWm VZdr EH$ \$_© Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _o| bm^-hm{Z
~m±Q>Vo Wo & 31 AŠQy>~a, 2019 H$mo VZdr H$s _¥Ë`w hmo JB© & gmPoXmar g§boI Ho$ AZwgma,
{nN>bo boIm§H$Z df© H$s g_m{á go CgH$s _¥Ë`w H$s {V{W VH$ \$_© _| CgHo$ bm^ Ho$ ^mJ H$s
JUZm _¥Ë`w go nyd© Xmo nyU© dfm] Ho$ Hw$b bm^m| Ho$ AmYma na H$s OmEJr & 31 _mM©, 2018
VWm 31 _mM©, 2019 H$mo g_má hþE dfm] Ho$ {bE \$_© H$m bm^ H«$_e: < 57,000 VWm
< 63,000 Wm & \$_© AnZr nwñVH|$ à{V df© 31 _mM© H$mo ~ÝX H$aVr h¡ & CgH$s _¥Ë`w H$s
{V{W VH$ VZdr Ho$ bm^ H$m ^mJ hmoJm : 1
(A) < 24,000
(B) < 7,000
(C) < 14,000
(D) < 12,000
8. ì`dgm` Ho$ H«$` Ho$ g_` ewÕ n[agån{Îm`m| go H«$` _yë` H$s A{YH$Vm H$mo : 1
(A) ny±OrJV g§M` _§o Ho«o${S>Q> {H$`m OmVm h¡ &
(B) »`m{V ImVo _| S>o{~Q> {H$`m OmVm h¡ &
(C) gm_mÝ` g§M` ImVo _| Ho«o${S>Q> {H$`m OmVm h¡ &
(D) {dH«o$Vm (~oMZo dmbo) Ho$ ImVoo _| Ho«o${S>Q> {H$`m OmVm h¡ &
9. {ZXoeH$m| Ûmam dmñVd _§o _m±Jo OmZo go nyd© A§eYmaH$m| go àmá A{J«_ àW_ `mMZm am{e H$mo : 1
(A) A{J«_ `mMZm ImVo _| S>o{~Q> {H$`m OmVm h¡ &
(B) eoà Am~§Q>Z ImVo _| Ho«o${S>Q> {H$`m OmVm h¡ &
(C) àW_ `mMZm ImVo _| S>o{~Q> {H$`m OmVm h¡ &
(D) A{J«_ `mMZm ImVo _| Ho«o${S>Q> {H$`m OmVm h¡ &
10. àr{_à {b{_Q>oS> Zo < 100 àËòH$ Ho$ 2,000, 9% G$UnÌm| H$m {ZJ©_Z g__yë` na {H$`m,
{OZH$m emoYZ nm±M dfm] Ho$ níMmV² 10% àr{_`_ na H$aZm Wm & G$UnÌ emoYZ {Zdoe _|
{Zdoe H$s OmZo dmbr Ý`yZV_ am{e hmoJr : 1
(A) < 30,000
(B) < 33,000
(C) < 50,000
(D) < 2,00,000
.67/3/1 6
7. Rajat, Mishi and Tanvi were partners in a firm sharing profits and losses
in the ratio of 5 : 3 : 2. Tanvi died on 31st October, 2019. According to the
partnership agreement, her share of profits from the closure of last
accounting year till the date of her death was to be calculated on the
basis of aggregate profits of two completed years before death. Profits of
the firm for the years ending 31st March, 2018 and 31st March, 2019 were
< 57,000 and < 63,000 respectively. The firm closes its books on
31st March every year. Tanvi’s share of profits till the date of her death
will be : 1
(A) < 24,000
(B) < 7,000
(C) < 14,000
(D) < 12,000
8. Excess value of net assets over purchase consideration at the time of
purchase of business is : 1
(A) Credited to the Capital Reserve.
(B) Debited to the Goodwill Account.
(C) Credited to the General Reserve Account.
(D) Credited to the Vendor’s Account.
9. First call amount received in advance from the shareholders before it is

actually called up by the directors is : 1
(A) Debited to calls-in-advance account.
(B) Credited to share allotment account.
(C) Debited to first call account.
(D) Credited to calls-in-advance account.
10. Premier Ltd. issued 2,000, 9% Debentures of < 100 each at par,
redeemable after five years at a premium of 10%. The minimum amount
invested in Debenture Redemption Investments will be : 1
(A) < 30,000
(B) < 33,000
(C) < 50,000
(D) < 2,00,000
.67/3/1 7 P.T.O.
11. ‘AmhaU na ã`mO’ < 4,000 Ho$ boZXoZ Ho$ {bE [aº$ ñWmZm| H$s ny{V© H$s{OE : 1
amoµOZm_Mm
Zm_ O_m
{V{W {ddaU Im. ~. n¥. < <
........................... Zm_o, 4,000
................................ 4,000
(AmhaU na ã`mO bJm`m)
12. 1 Aà¡b, 2018 H$mo _¡Ì`r Šb~ H$m nwañH$ma H$mof < 8,00,000 Wm & BgZo df© _|
nwañH$mam| na < 8,70,000 H$s am{e ì`` H$s & 31 _mM©, 2019 H$mo pñW{V {ddaU _|
nwañH$ma H$mof H$m eof hmoJm : 1
(A) < 70,000
(B) < 8,00,000
(C) (< 70,000)
(D) eyÝ`
13. d¡í` {b{_Q>oS> Zo ~¢H$ Am°\$ BpÊS>`m go < 25,00,000 H$m G$U boZo Ho$ {bE g§nmpíd©H$
à{V^y{V Ho$ ê$n _| < 100 àËòH$ Ho$ 30,000, 10% G$UnÌm| H$m {ZJ©_Z {H$`m & G$UnÌm|
H$mo g§nmpíd©H$ à{V^y{V Ho$ ê$n _| {ZJ©{_V H$aZo H$s amoµOZm_Mm à{d{îQ> _| [aº$ ñWmZm| H$s
ny{V© H$s{OE : 1
d¡í` {b{_Q>oS>
amoµOZm_Mm
Zm_ O_m
{V{W {ddaU Im. ~. n¥. < <
...................... ImVm Zm_o, ............
......................... ImVm ............
(< 25,00,000 Ho$ G$U Ho$

{bE < 30,00,000; 10%
G$UnÌm| H$m g§nmpíd©H$
à{V^y{V Ho$ ê$n _| {ZJ©_Z)
.67/3/1 8
11. Fill in the blanks for the transaction ‘Interest on drawings’ < 4,000. 1
Journal
Dr. Cr.
Date Particulars L.F. < <
...................................... Dr. 4,000
To ............................. 4,000
(Being Interest on drawings charged)
12. On 1st April, 2018, Maitreyi Club had a Prize Fund of < 8,00,000. It
incurred expenses on prizes amounting to < 8,70,000 during the year.
The balance of Prize Fund in the Balance Sheet as at 31st March, 2019
will be : 1
(A) < 70,000
(B) < 8,00,000
(C) (< 70,000)
(D) Zero
13. Vashya Ltd. issued 30,000, 10% Debentures of < 100 each as collateral
security for a loan of < 25,00,000 taken from Bank of India. Fill in the
blanks for the journal entry for issue of debentures as a collateral
security : 1
Vashya Ltd.
Journal
Dr. Cr.
Date Particulars L.F. < <
................................ A/c Dr. ..........

To ............................. A/c ..........
(Being < 30,00,000; 10% debentures
issued as collateral security for a loan
of < 25,00,000)
.67/3/1 9 P.T.O.
14. í`m_Or M¡[aQ>o~b gmogmBQ>r go g§~§{YV {ZåZ {ddaUm| go, 31 _mM©, 2019 H$mo g_má hþE
df© Ho$ {bE àm{á VWm ^wJVmZ ImVm V¡`ma H$s{OE : 3
{ddaU am{e
<
1.4.2018 H$mo amoH$‹S> hñVo 16,000
1.4.2018 H$mo ~¢H$ _| amoH$‹S> 28,000

MÝXm (2017  18 H$m < 11,000 gpå_{bV) 60,000
^dZ Ho$ {bE XmZ 2,90,000
{d{dY ì`` 98,000
bm°H$a {H$am`m 32,000
àdoe ewëH$ 41,000
AWdm
EH$ AñnVmb H$s Xr JB© gyMZm go df© 2018  19 _| Cn^moJ H$s JB© XdmB`m| H$s am{e H$s
JUZm H$s{OE : 3
{ddaU am{e
<
XdmB`m| Ho$ H«$` Ho$ {bE ^wJVmZ 5,10,000
H«$` H$s JB© XdmB`m| Ho$ boZXma :

1.4.2018 H$mo 34,000
31.3.2019 H$mo 29,000
XdmB`m| H$m ñQ>m°H$ :
1.4.2018 H$mo 86,000
31.3.2019 H$mo 39,000
XdmB`m| Ho$ Amny{V©H$Vm©Am| H$mo A{J«_ :

1.4.2018 H$mo 26,000
31.3.2019 H$mo 32,000
.67/3/1 10
14. From the following particulars relating to Shyamji Charitable Society,
prepare a Receipts and Payments Account for the year ending
31st March, 2019 : 3
Amount
Particulars
<
Cash in hand as on 1.4.2018 16,000
Cash at bank as on 1.4.2018 28,000
Subscriptions (including < 11,000 for
60,000
2017  18)
Donations for building 2,90,000
Miscellaneous expenses 98,000
Locker rent 32,000

Entrance fees 41,000
OR
From the given information of a hospital, calculate the amount of
medicines consumed during the year 2018  19 : 3
Amount
Particulars
<
Payment for purchase of medicines 5,10,000
Creditors for medicines purchased :
On 1.4.2018 34,000
On 31.3.2019 29,000
Stock of Medicines :
On 1.4.2018 86,000
On 31.3.2019 39,000
Advance to suppliers of medicines :
On 1.4.2018 26,000
On 31.3.2019 32,000
.67/3/1 11 P.T.O.
15. drZm VWm gmo_oe EH$ \$_© Ho$ gmPoXma Wo VWm CZH$s ny±Or H«$_e: < 1,00,000 VWm
1
< 80,000 Wr & 1 Aà¡b, 2019 H$mo CÝhm|Zo \$_© Ho$ ^mdr bm^m| _| d| ^mJ Ho$ {bE
4
{Zem H$mo EH$ Z`m gmPoXma ~Zm`m & {Zem AnZr ny±Or Ho$ {bE < 90,000 bmB© & {Zem Zo
AnZo ^mJ H$m 1 dm± ^mJ drZm go VWm eof gmo_oe go {b`m &
12
\$_© H$s »`m{V Ho$ _yë` H$s JUZm H$s{OE VWm {Zem Ho$ àdoe na Amdí`H$ amoµOZm_Mm
à{d{ï>`m± H$s{OE & 4
AWdm
Amem, arZm VWm MmhV EH$ \$_© H$s gmPoXma Wt VWm 2 : 2 : 1 Ho$ AZwnmV _| bm^-hm{Z
~m±Q>Vr Wt & 31 _mM©, 2019 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :
31 _mM©, 2019 H$mo Amem, arZm VWm MmhV H$m pñW{V {ddaU
am{e am{e
Xo`VmE± <
n[agån{Îm`m± <
boZXma 12,00,000 g§`§Ì VWm _erZar 14,80,000
gm_mÝ` g§M` 2,00,000 ñQ>m°H$ 2,20,000
ny±Or : {d{dY XoZXma 2,60,000

KQ>m g§{X½Y G$Um|
Amem 3,00,000 Ho$ {bE àmdYmZ 20,000 2,40,000
arZm 2,00,000 ~¢H$ 60,000
MmhV 1,00,000 6,00,000
20,00,000 20,00,000
1 Aà¡b, 2019 go Amem, arZm VWm MmhV Zo ^mdr bm^m| H$mo ~am~a-~am~a ~m±Q>Zo H$m {ZU©`
{b`m & BgHo$ {bE `h gh_{V hþB© {H$ :
(i) \$_© H$s »`m{V H$m _yë`m§H$Z < 1,50,000 {H$`m J`m &
(ii) Sy>~V G$U < 40,000 Ho$ Wo & XoZXmam| na g§{X½Y G$Um| Ho$ {bE 5% H$s Xa go
àmdYmZ H$aZm Wm &
\$_© H$s nwñVH$m| _| Cn`w©º$ boZXoZm| H$m boIm H$aZo Ho$ {bE Amdí`H$ amoµOZm_Mm à{d{ï>`m±
H$s{OE & 4
.67/3/1 12
15. Veena and Somesh were partners in a firm with capitals of < 1,00,000
and < 80,000 respectively. They admitted Nisha on 1st April, 2019 as a
1 th
new partner for share in the future profits of the firm. Nisha
4
1 th
brought < 90,000 as her capital. Nisha acquired her share as from
12
Veena and the remaining from Somesh.
Calculate the value of goodwill of the firm and pass the necessary journal
entries on Nisha’s admission. 4
OR
Asha, Rina and Chahat were partners in a firm sharing profits and losses
in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2019 was as
follows :
Balance Sheet of Asha, Rina and Chahat as at 31st March, 2019

Amount Amount
Liabilities < Assets <
Creditors 12,00,000 Plant and Machinery 14,80,000
General Reserve 2,00,000 Stock 2,20,000
Sundry Debtors
Capitals :
2,60,000
Less Provision
Asha 3,00,000 for doubtful debts 20,000 2,40,000
Rina 2,00,000 Bank 60,000
Chahat 1,00,000 6,00,000
20,00,000 20,00,000
Asha, Rina and Chahat decided to share future profits equally with effect
from 1st April, 2019. For this, it was agreed that :
(i) Goodwill of the firm be valued at < 1,50,000.
(ii) Bad debts amounted to < 40,000. A provision for doubtful debts
was to be made @ 5% on debtors.
Pass the necessary journal entries to record the above transactions in the
books of the firm. 4
.67/3/1 13 P.T.O.
16. ZrZm VWm gmam EH$ \$_© H$s gmPoXma Wt VWm CZH$s ñWm`r ny±Or H«$_e: < 5,00,000
VWm < 4,00,000 Wr & `h nm`m J`m {H$ 6% dm{f©H$ Xa go 31 _mM©, 2018 VWm
31 _mM©, 2019 H$mo g_má hmoZo dmbo Xmo dfmo] Ho$ ny±Or na ã`mO H$s IVm¡Zr gmPoXmam| Ho$
O_m nj _§o H$a Xr JB© O~{H$ gmPoXmar g§boI _| Eogm H$moB© àmdYmZ Zht Wm & {nN>bo Xmo
dfm] Ho$ Xm¡amZ CZH$m bm^-{d^mOZ AZwnmV Wm :
2017  18 4:5
2018  19 5:1
AnZo H$m`© H$mo ñnï> ê$n go Xem©Vo hþE, Aew{Õ Ho$ emoYZ Ho$ {bE Amdí`H$ amoµOZm_Mm
à{d{ï> H$s{OE & 4
17. A{X{V, H$m{V©H$ VWm Q>rZm EH$ \$_© Ho$ gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^-hm{Z
~m±Q>Vo Wo & 31 _mM©, 2019 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :
31 _mM©, 2019 H$mo A{X{V, H$m{V©H$ VWm Q>rZm H$m pñW{V {ddaU
am{e am{e
Xo`VmE± <
n[agån{Îm`m± <
boZXma 96,000 \$ZuMa 4,30,000
ny±Or : ñQ>m°H$ 1,50,000
A{X{V 3,00,000 XoZXma 83,000
H$m{V©H 2,00,000 ZJX 33,000
Q>rZm 1,00,000 6,00,000
6,96,000 6,96,000
1 Zdå~a, 2019 H$mo A{X{V H$s _¥Ë`w hmo JB© & `h gh_{V hþB© {H$ :
(i) \$_© H$s »`m{V H$m _yë`m§H$Z < 1,00,000 {H$`m OmE &
(ii) df© 2019  20 H$m bm^ {nN>bo df© 2018  19 Ho$ bm^ Ho$ AmYma na A{O©V
hþAm _mZm OmE & df© 2018  19 H$m bm^ < 96,000 Wm &
(iii) AmYr am{e H$m ^wJVmZ A{X{V Ho$ {ZînmXH$m| H$mo VwaÝV H$a {X`m J`m VWm eof AmYo
H$m ^wJVmZ 6% dm{f©H$ ã`mO Xa Ho$ gmW Xmo g_mZ dm{f©H$ {H$íVm| _o| {H$`m OmEJm &
_¥Ë`w H$s {V{W na \$_© H$s nwñVH$m| _| Cn`w©º$ boZXoZm| H$m boIm H$aZo Ho$ {bE Amdí`H$
amoµOZm_Mm à{d{ï>`m± H$s{OE & 4
.67/3/1 14
16. Neena and Sara were partners in a firm with fixed capitals of
< 5,00,000 and < 4,00,000 respectively. It was discovered that interest on
capital @ 6% p.a. was credited to the partners for the two years ending
31st March, 2018 and 31st March, 2019 whereas there was no such
provision in the partnership deed. Their profit sharing ratio during the
last two years was :
2017  18 4:5
2018  19 5:1
Showing your workings clearly, pass the necessary adjustment entry to
rectify the error. 4
17. Aditi, Kartik and Tina were partners in a firm sharing profits and losses
in the ratio of 5 : 3 : 2. On 31st March, 2019, their Balance Sheet was as
follows :
Balance Sheet of Aditi, Kartik and Tina as at 31st March, 2019
Amount Amount
Liabilities Assets
< <
Creditors 96,000 Furniture 4,30,000
Capitals : Stock 1,50,000
Aditi 3,00,000 Debtors 83,000
Kartik 2,00,000 Cash 33,000
Tina 1,00,000 6,00,000
6,96,000 6,96,000
Aditi died on 1st November, 2019. It was agreed that :

(i) Goodwill of the firm be valued at < 1,00,000.
(ii) Profit for the year 2019  20 be taken as having accrued at the
same rate as the previous year 2018  19. Profit for the year
2018  19 was < 96,000.
(iii) Half the amount was paid to Aditi’s executors immediately and the
remaining half will be paid in two equal annual instalments with
interest @ 6% p.a.
books of the firm on the date of her death. 4
.67/3/1 15 P.T.O.
18. 31 _mM©, 2019 H$mo g_má hþE df© Ho$ {bE \«o$ÝS²>g Šb~ Ho$ {XE JE àm{á VWm ^wJVmZ
ImVo VWm A{V[aº$ gyMZm go, 31 _mM©, 2019 H$mo g_má hþE df© H$m Am` VWm ì`` ImVm
V¡`ma H$s{OE &
31 _mM©, 2019 H$mo g_má hþE df© Ho$ {bE \«o$ÝS²>g Šb~ H$m àm{á VWm ^wJVmZ ImVm
am{e am{e
àm{á`m± <
^w J VmZ <
\$ZuMa
eof ZrMo bmE 50,400
(1.12.2018 H$mo H«$`) 1,20,000
XmZ 44,000 doVZ 1,00,000
nwamZr IobHy$X gm_J«r H$m {dH«$` 2,000 g{Md H$m _mZXo` 4,000
MÝXm : nwñVH|$ 44,000

2017  18 1,600 eof ZrMo bo JE 15,000
2018  19 60,000
2019  20 5,000 66,600
àdoe ewëH$ 1,20,000
2,83,000 2,83,000
A{V[aº$ gyMZm :
(i) 1 Aà¡b, 2018 H$mo Šb~ Ho$ nmg n[agån{Îm`m| VWm Xo`VmAm| Ho$ {ZåZ eof Wo :
\$ZuMa < 1,00,000; AXÎm MÝXm < 2,000 VWm AXÎm doVZ < 6,000.
(ii) Šb~ Ho$ 75 gXñ` Wo VWm àËòH$ < 1,000 dm{f©H$ MÝXm XoVm h¡ &
(iii) \$ZuMa na 10% à{V df© H$s Xa go _yë`õmg bJmZm h¡ & 4
19. dgwYm VWm XrdmZ EH$ \$_© Ho$ gmPoXma Wo VWm 2 : 3 Ho$ AZwnmV _| bm^-hm{Z ~m±Q>Vo Wo &
31 _mM©, 2019 H$mo \$_© H$m {dKQ>Z hmo J`m & n[agån{Îm`m| (amoH$‹S> H$mo N>mo‹S>H$a) VWm ~mø
Xo`VmAm| H$mo dgybr ImVo _| ñWmZmÝV[aV H$aZo Ho$ níMmV² {ZåZ boZXoZ hþE :
(i) < 60,000 A§{H$V _yë` Ho$ {Zdoem| H$mo Iwbo ~mµOma _| < 63,000 _| ~oMm J`m
VWm BgHo$ {bE Xbmb H$mo < 700 H$_reZ H$m ^wJVmZ {H$`m J`m &
(ii) < 65,000 Ho$ boZXmam| H$m {ZnQ>mZ CÝh| nyU© ñQ>m°H$ XoH$a VWm < 23,000 M¡H$ Ûmam
^wJVmZ H$aHo$ {H$`m J`m &
.67/3/1 16
18. From the given Receipts and Payments Account and additional
information of Friends Club for the year ended 31st March, 2019, prepare
Income and Expenditure Account for the year ending 31st March, 2019.
Receipts and Payments Account of Friends Club for the year
ending 31st March, 2019
Amount Amount
Receipts Payments
< <
By Furniture
To Balance b/d 50,400 1,20,000
(Purchased on 1.12.2018)
To Donations 44,000 By Salaries 1,00,000
To Sale of old sports
2,000 By Secretary’s honorarium 4,000
material
To Subscriptions : By Books 44,000
2017  18 1,600 By Balance c/d 15,000
2018  19 60,000
2019  20 5,000 66,600
To Entrance fees 1,20,000
2,83,000 2,83,000
Additional Information :
(i) On 1st April, 2018 the Club had the following balances
of assets and liabilities :
Furniture < 1,00,000; Subscriptions in arrears < 2,000 and
Outstanding Salary < 6,000.
(ii) The Club had 75 members each paying an annual subscription of
< 1,000.
(iii) Charge depreciation on Furniture @ 10% p.a. 4
19. Vasudha and Dewan were partners in a firm sharing profits and losses in
the ratio of 2 : 3. The firm was dissolved on 31st March, 2019. After
transfer of assets (other than cash) and external liabilities to Realization
Account, the following transactions took place :
(i) Investments of the face value of < 60,000 were sold in the open
market for < 63,000 for which a commission of < 700 was paid to
the broker.
(ii) Creditors worth < 65,000 were settled by handing over the entire
stock to them along with a payment of < 23,000 by cheque.
.67/3/1 17 P.T.O.
(iii) nwamZm \$ZuMa Wm {Ogo \$_© H$s nwñVH$m| go nyU© ê$n go An{b{IV H$a {X`m J`m
Wm & Bgo dgwYm Zo < 2,000 _| bo {b`m &
(iv) XrdmZ Zo lr_Vr XrdmZ Ho$ < 45,000 Ho$ G$U ^wJVmZ H$s gh_{V Xr &
(v) XrdmZ H$mo {dKQ>Z à{H«$`m H$s XoIaoI Ho$ {bE {Z`wº$ {H$`m J`m {OgHo$ {bE Cgo
< 7,000 nm[al{_H$ {X`m OmEJm & dh {dKQ>Z ì`` dhZ H$aZo Ho$ {bE gh_V hmo
J`m & dmñVd _| XrdmZ Ûmam < 11,000 ì`` {H$E JE {OgH$m ^wJVmZ \$_© Zo
{H$`m &
(vi) {dKQ>Z na < 9,000 H$s hm{Z hþB© &
\$_© H$s nwñVH$m| _| Cn`w©º$ boZXoZm| H$m boIm H$aZo Ho$ {bE Amdí`H$ amoµOZm_Mm à{d{ï>`m±
H$s{OE & 6
20. {ZåZ boZXoZm| Ho$ {bE G$UnÌm| Ho$ {ZJ©_Z na Amdí`H$ amoµOZm_Mm à{d{ï>`m± H$s{OE :
(i) AmZ§X {b{_Q>oS> Zo < 4,80,000 bmJV H$s _erZar H«$` Ho$ {bE {dH«o$VmAm| H$mo
< 500 àËòH$ Ho$ 800, 9% G$UnÌm| H$m {ZJ©_Z 20% Ho$ àr{_`_ na {H$`m &
(ii) S>mda {b{_Q>oS> Zo < 200 àËòH$ Ho$ 5,000, 7% G$UnÌm| H$m {ZJ©_Z 5% Ho$
àr{_`_ na {H$`m & BZ G$UnÌm| H$m emoYZ 10% Ho$ àr{_`_ na H$aZm Wm &
(iii) Zm°dëQ>r {b{_Q>oS> Zo < 100 àËòH$ Ho$ 1,000, 8% G$UnÌm| H$m {ZJ©_Z 5% Ho$ ~Å>o
na {H$`m & BZ G$UnÌm| H$m emoYZ 10% Ho$ àr{_`_ na H$aZm Wm & 6
AWdm
(i) 1 Aà¡b, 2019 H$mo ~«mBQ> {b{_Q>oS> Zo < 100 àËòH$ Ho$ 4,00,000, 6% G$UnÌm|
H$m {ZJ©_Z 5% ~Å>o na {H$`m & BZH$m emoYZ VrZ dfm] Ho$ níMmV² H$aZm Wm &
à{V G$UnÌ am{e H$m ^wJVmZ {ZåZ àH$ma go Wm :
AmdoXZ na – < 80 à{V G$UnÌ
Am~§Q>Z na – eof
G$UnÌ nyU©V: A{^XÎm hþE VWm g^r am{e àmá hmo JB© &
G$UnÌm| Ho$ {ZJ©_Z na Amdí`H$ amoµOZm_Mm à{d{ï>`m± H$s{OE &
(ii) {Xem {b{_Q>oS> Zo H¥${V {b{_Q>oS> H$s < 8,00,000 H$s n[agån{Îm`m| VWm
< 3,00,000 H$s Xo`VmAm| H$m < 6,00,000 Ho$ H«$` _yë` na A{YJ«hU {H$`m &
^wJVmZ < 100 àËòH$ Ho$ 9% G$UnÌm| H$mo 20% àr{_`_ na {ZJ©{_V H$aHo$ {H$`m
J`m &
{Xem {b{_Q>oS> H$s nwñVH$m| _o| Cn`w©º$ boZXZm| H$m boIm H$aZo Ho$ {bE Amdí`H$
amoµOZm_Mm à{d{ï>`m± H$s{OE & 6
.67/3/1 18
(iii) There was old furniture which had been completely written off from
the books of the firm. It was taken over by Vasudha at < 2,000.
(iv) Dewan undertook to pay Ms. Dewan’s loan of < 45,000.
(v) Dewan was appointed to look after the process of dissolution for
which he was allowed a remuneration of < 7,000. He agreed to
bear the dissolution expenses. Actual expenses incurred by Dewan
were < 11,000, which were paid by the firm.
(vi) Loss on realisation amounted to < 9,000.
books of the firm. 6
20. Pass the necessary journal entries for the issue of debentures for the
following transactions :
(i) Anand Ltd. issued 800, 9% Debentures of < 500 each at a premium
of 20%, to the vendors for machinery purchased from them costing
< 4,80,000.
(ii) Dawar Ltd. issued 5,000, 7% Debentures of < 200 each at a
premium of 5%, redeemable at a premium of 10%.
(iii) Novelty Ltd. issued 1,000, 8% Debentures of < 100 each at a
discount of 5%, redeemable at a premium of 10%. 6
OR
(i) On 1st April, 2019, Bright Ltd. issued < 4,00,000, 6% Debentures
of < 100 each at a discount of 5%, redeemable after three years.
The amount per debenture was payable as follows :
On Application – < 80 per debenture
On Allotment – Balance
The debentures were fully subscribed and all money was duly
received.
Pass necessary journal entries for issue of debentures.
(ii) Disha Ltd. took over assets of < 8,00,000 and liabilities of
< 3,00,000 from Kriti Ltd. for a purchase consideration of
< 6,00,000. The payment was made by issue of 9% Debentures of
< 100 each at 20% premium.
Pass the necessary journal entries for the above transactions in the
books of Disha Ltd. 6
.67/3/1 19 P.T.O.
21. amR>r {b{_Q>oS> Zo < 10 àËòH$ Ho$ 1,00,000 A§em| H$mo < 2 à{V A§e Ho$ àr{_`_ na
{ZJ©{_V H$aZo Ho$ {bE AmdoXZ Am_pÝÌV {H$E & à{V A§e am{e H$m ^wJVmZ {ZåZ àH$ma go
H$aZm Wm :
AmdoXZ na – < 4 (< 1 àr{_`_ g{hV)
Am~§Q>Z na – < 4 (< 1 àr{_`_ g{hV)
àW_ VWm ApÝV_ `mMZm na – eof
1,50,000 A§em| Ho$ {bE AmdoXZ àmßV hþE VWm AmdoXH$m| H$mo Am~§Q>Z {ZåZ àH$ma go {H$`m
J`m :
(i) 80,000 A§em| Ho$ AmdoXH$m| H$mo 60,000 A§e Am~§{Q>V {H$E JE &
(ii) 50,000 A§em| Ho$ AmdoXH$m| H$mo 40,000 A§e Am~§{Q>V {H$E JE &
(iii) eof AmdoXH$m| H$mo A§em| H$m H$moB© Am~§Q>Z Zht {H$`m J`m VWm CZH$s AmdoXZ am{e
dmng H$a Xr JB© &
`{VZ, Omo dJ© (ii) go gå~pÝYV Wm VWm {OgZo 5,000 A§em| Ho$ {bE AmdoXZ {H$`m Wm,
Am~§Q>Z am{e VWm `mMZm am{e H$m ^wJVmZ H$aZo _§o Ag\$b ahm & CgHo$ A§em| H$m haU H$a
{b`m J`m & BgHo$ níMmV², `{VZ Ho$ haU {H$E JE AmYo A§em| H$mo < 18 à{V A§e nyU©
àXÎm nwZ: {ZJ©{_V H$a {X`m J`m &
amR>r {b{_Q>oS> H$s nwñVH$m| _| Cn`w©º$ boZXZm| H$m boIm H$aZo Ho$ {bE Amdí`H$ amoµOZm_Mm
AWdm
B©H$mo {b{_Q>oS> Zo < 10 àËòH$ Ho$ 2,00,000 g_Vm A§em| H$mo < 3 à{V A§e Ho$ àr{_`_ na
{ZJ©{_V H$aZo Ho$ {bE AmdoXZ Am_pÝÌV {H$E & am{e H$m ^wJVmZ {ZåZ àH$ma go H$aZm Wm :
AmdoXZ na – < 4 à{V A§e
Am~§Q>Z na – < 6 à{V A§e (< 3 àr{_`_ g{hV)
àW_ VWm ApÝV_ `mMZm na – eof
3,00,000 A§em| Ho$ {bE AmdoXZ àmßV hþE 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 ^wJVmZ H$s JB© A{V[aº$ am{e H$m g_m`moOZ
Am~§Q>Z na Xo` am{e _| H$a {b`m J`m & gwZrb, {OgZo 6,000 A§em| Ho$ {bE AmdoXZ {H$`m
Wm, Am~§Q>Z am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm, O~{H$ 2,000 A§em| Ho$ YmaH$ [af^ Zo
Am~§Q>Z Ho$ gmW àW_ VWm ApÝV_ `mMZm H$m ^wJVmZ H$a {X`m & Am~§Q>Z Ho$ VwaÝV níMmV²
gwZrb Ho$ A§em| H$m haU H$a {b`m J`m & CgHo$ níMmV², àW_ VWm ApÝV_ `mMZm _m±Jr
JB© VWm nyU© ê$n go àmá hmo JB© & haU {H$E JE AmYo A§em| H$mo < 9 à{V A§e nyU© àXÎm
dfm© H$mo nwZ: {ZJ©{_V H$a {X`m J`m &
B©H$mo {b{_Q>oS> H$s nwñVH$m| _| Cn`w©º$ boZXoZm| H$m boIm H$aZo Ho$ {bE Amdí`H$ amoµOZm_Mm
.67/3/1 20
21. Rathi Ltd. invited applications for issuing 1,00,000 shares of < 10 each at
a premium of < 2 per share. Amount per share was payable as follows :
On Application – < 4 (including premium < 1)
On Allotment – < 4 (including premium < 1)
On First and Final Call – Balance
Applications were received for 1,50,000 shares and allotment was made
to the applicants as follows :
(i) Applicants of 80,000 shares were allotted 60,000 shares.
(ii) Applicants of 50,000 shares were allotted 40,000 shares.
(iii) No shares were allotted to the remaining applicants and their
application money was returned.
Yatin, who belonged to category (ii) and who had applied for 5,000 shares
failed to pay the allotment and call money. His shares were forfeited.
Later, half of Yatin’s forfeited shares were reissued @ < 18 per share as
fully paid up.
books of Rathi Ltd. 8
OR
Eiko Ltd. invited applications for issuing 2,00,000 equity shares of < 10
each at a premium of < 3 per share. The amount was payable as follows :
On Application – < 4 per share
On Allotment – < 6 per share (including premium < 3)
On First and Final Call – Balance
Applications were received for 3,00,000 shares and allotment was made
on pro-rata basis to all the applicants. Money overpaid on applications
was utilised towards sums due on allotment. Sunil, who applied for
6,000 shares failed to pay the allotment money while Rishab holding
2,000 shares paid the first and final call money with allotment. Sunil’s
shares were forfeited immediately after allotment. Thereafter, first and
final call was made and was duly received. Half of the forfeited shares
were reissued to Varsha as fully paid for < 9 per share.
books of Eiko Ltd. 8
.67/3/1 21 P.T.O.
22. Amerf VWm {Z{_f EH$ \$_© Ho$ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _o| bm^-hm{Z ~m±Q>Vo Wo &
31 _mM©, 2019 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :
31 _mM©, 2019 H$mo Amerf VWm {Z{_f H$m pñW{V {ddaU
am{e am{e
Xo`VmE± n[agån{Îm`m±
< <
ny±Or : g§`§Ì VWm _erZar 2,90,000
Amerf 3,10,000 \$ZuMa 2,20,000

{Z{_f 2,90,000 6,00,000 XoZXma 90,000
KQ>m g§{X½Y G$Um|
gm_mÝ` g§M` 50,000 Ho$ {bE àmdYmZ 1,000 89,000
H$m_Jma j{Vny{V© H$mof 20,000 ñQ>m°H$ 1,40,000
boZXma 1,10,000 amoH$‹S> 41,000
7,80,000 7,80,000
1 Aà¡b, 2019 H$mo JrVm H$mo bm^ _| 1 d| ^mJ Ho$ {bE {ZåZ eVm] na àdoe {X`m J`m :
4
(i) \$_© H$s »`m{V H$m _yë`m§H$Z < 2,00,000 {H$`m J`m &
(ii) JrVm AnZr ny±Or Ho$ {bE < 3,00,000 VWm »`m{V àr{_`_ Ho$ AnZo ^mJ Ho$ {bE
ZJX bmB© &
(iii) Sy>~V G$U < 2,000 Ho$ Wo & XoZXmam| na g§{X½Y G$Um| Ho$ {bE 5% H$s Xa go
àmdYmZ H$aZm h¡ &
(iv) \$ZuMa H$m _yë` < 65,400 H$_ nm`m J`m &
(v) {Z{_f Zo < 1,30,000 _| ñQ>m°H$ bo {b`m &
(vi) H$m_Jma j{Vny{V© H$mof H$s Xo`Vm H$m {ZYm©aU < 30,000 {H$`m J`m &
(vii) Cn`w©º$ g_m`moOZm| Ho$ níMmV² Amerf VWm {Z{_f H$s ny±{O`m| H$mo JrVm H$s ny±Or Ho$
AmYma na g_m`mo{OV {H$`m J`m & Am{YŠ` AWdm H$_r H$m g_m`moOZ Mmby ImVo
ImobH$a H$aZm Wm &
nwZ_y©ë`m§H$Z ImVm, gmPoXmam| Ho$ ny±Or ImVo VWm JrVm Ho$ àdoe Ho$ níMmV² \$_© H$m pñW{V
{ddaU V¡`ma H$s{OE & 8
AWdm
.67/3/1 22
22. Ashish and Nimish were partners in a firm sharing profits and losses in
the ratio of 3 : 2. On 31st March, 2019 their Balance Sheet was as follows :
Balance Sheet of Ashish and Nimish as at 31st March, 2019
Amount Amount
Liabilities Assets
< <
Capitals : Plant and Machinery 2,90,000
Ashish 3,10,000 Furniture 2,20,000

Nimish 2,90,000 6,00,000 Debtors 90,000
Less provision for
General Reserve 50,000 doubtful debts 1,000
89,000
Workmen’s
20,000 Stock 1,40,000
Compensation Fund
Creditors 1,10,000 Cash 41,000
7,80,000 7,80,000
1 th
On 1st April, 2019, Geeta was admitted into the partnership for
4
share in the profits on the following terms :
(i) Goodwill of the firm was valued at < 2,00,000.
(ii) Geeta brought < 3,00,000 as her capital and her share of goodwill
premium in cash.
(iii) Bad debts amounted to < 2,000. Create a provision for doubtful
debts @ 5% on debtors.
(iv) Furniture was found undervalued by < 65,400.
(v) Stock was taken over by Nimish for < 1,30,000.
(vi) The liability against workmen’s compensation fund was
determined at < 30,000.
(vii) After the above adjustments, the capitals of Ashish and Nimish
were to be adjusted taking Geeta’s capital as the base. Excess or
shortage was to be adjusted by opening current accounts.
Prepare Revaluation Account, Partners’ Capital Accounts and the
Balance Sheet of the firm after Geeta’s admission. 8
OR
.67/3/1 23 P.T.O.
amYm, _mZg VWm AZ©d EH$ \$_© Ho$ gmPoXma Wo VWm 3 : 1 : 1 Ho$ AZwnmV _o| bm^-hm{Z ~m±Q>Vo
Wo & 31 _mM©, 2019 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :
31 _mM©, 2019 H$mo amYm, _mZg VWm AZ©d H$m pñW{V {ddaU
am{e am{e
Xo`VmE± <
n[agån{Îm`m± <
ny±Or : \$ZuMa 4,60,000
amYm 4,00,000 {Zdoe 2,00,000
_mZg 3,00,000 ñQ>m°H$ 2,40,000
AZ©d 2,00,000 9,00,000 XoZXma 2,20,000

KQ>m g§{X½Y G$Um|
{Zdoe CVma-M‹T>md H$mof 1,10,000
Ho$ {bE àmdYmZ 10,000 2,10,000
boZXma 2,50,000 ZJX 1,50,000
12,60,000 12,60,000
1 Aà¡b, 2019 H$mo _mZg Zo AdH$me J«hU {H$`m & `h gh_{V hþB© {H$ :
(i) ñQ>m°H$ H$mo 20% go ~‹T>m`m OmEJm &

(ii) g§{X½Y G$Um| Ho$ {bE àmdYmZ H$mo < 15,000 VH$ ~‹T>m`m OmEJm &$
(iii) \$ZuMa Ho$ _yë` H$mo < 3,000 go H$_ {H$`m OmEJm & &
(iv) {Zdoem| H$m ~mµOma _yë` < 1,90,000 Wm &
(v) \$_© H$s »`m{V H$m _yë`m§H$Z < 2,00,000 {H$`m J`m VWm _mZg Ho$ ^mJ H$m
g_m`moOZ amYm VWm AZ©d Ho$ ImVm| _| {H$`m J`m &
(vi) _mZg H$mo < 68,000 H$m ^wJVmZ ZJX {H$`m J`m VWm eof H$mo CgHo$ G$U ImVo _|
ñWmZmÝV[aV H$a {X`m J`m &
(vii) amYm VWm AZ©d H$s ny±Or CZHo$ ZE bm^ {d^mOZ AZwnmV _| hmoJr & CZHo$ ny±Or
ImVm| _| `{X H$moB© Am{YŠ`/H$_r h¡, Vmo CgH$m g_m`moOZ Mmby ImVm| Ho$ _mÜ`_ go
{H$`m OmEJm &
nwZ_y©ë`m§H$Z ImVm, gmPoXmam| Ho$ ny±Or ImVo VWm nwZJ©{R>V \$_© H$m pñW{V {ddaU V¡`ma
H$s{OE & 8
.67/3/1 24
Radha, Manas and Arnav were partners in a firm sharing
profits and losses in the ratio of 3 : 1 : 1. Their Balance Sheet as at
31st March, 2019 was as follows :
Balance Sheet of Radha, Manas and Arnav as at 31st March, 2019
Amount Amount
Liabilities < Assets <
Capitals : Furniture 4,60,000
Radha 4,00,000 Investments 2,00,000
Manas 3,00,000 Stock 2,40,000

Arnav 2,00,000 9,00,000 Debtors 2,20,000
Investment Less provision for

1,10,000 doubtful debts 10,000
Fluctuation Fund 2,10,000
Creditors 2,50,000 Cash 1,50,000
12,60,000 12,60,000
Manas retired on 1st April, 2019. It was agreed that :

(i) Stock was to be appreciated by 20%.
(ii) Provision for doubtful debts was to be increased to < 15,000.
(iii) Value of furniture was to be reduced by < 3,000.
(iv) Market value of investments was < 1,90,000.
(v) Goodwill of the firm was valued at < 2,00,000 and Manas’s share
was adjusted in the accounts of Radha and Arnav.
(vi) Manas was paid < 68,000 in cash and the balance was transferred
to his loan account.
(vii) Capitals of Radha and Arnav were to be in proportion to their new
profit sharing ratio. Surplus/deficit, if any, in their capital accounts
was to be adjusted through current accounts.
Prepare Revaluation Account, Partners’ Capital Accounts and the
Balance Sheet of the reconstituted firm. 8
.67/3/1 25 P.T.O.
^mJ> I
{dH$ën 1
({dÎmr` {ddaUm| H$m {díbofU)
23. dñÌ ~ZmZo dmbr EH$ H$ånZr Ho$ {bE, H$ƒo _mb H$s àm{á, CËnmXZ ì``m| H$m ^maJ«hU,
dñÌm| Ho$ {dH«$` H$mo ___________ J{V{d{Y`m| _| dJuH¥$V {H$`m OmVm h¡ & 1
24. Ama.dr. {b{_Q>oS> Ho$ A§em| Ho$ A{YJ«hU Ho$ {bE < 4,00,000 H$m ^wJVmZ {H$`m VWm
A{YJ«hU Ho$ níMmV² < 40,000 bm^m§e àmá {H$`m & Bg boZXoZ H$m n[aUm_ hmoJm 1
(A) {Zdoe J{V{d{Y`m| _| à`wº$ amoH$‹S> < 4,00,000.
(B) {dÎmr` J{V{d{Y`m| Ûmam CËnÞ amoH$‹S> < 4,40,000.
(C) {Zdoe J{V{d{Y`m| _| à`wº$ amoH$‹S> < 3,60,000.
(D) {dÎmr` J{V{d{Y`m| Ûmam CËnÞ amoH$‹S> < 3,60,000.
25. {ZåZ _| go H$m¡Z {dÎmr` {ddaU {díbofU H$m Am¡µOma Zht h¡ ? 1

(A) pñW{V {ddaU
(B) amoH$‹S> àdmh {ddaU
(C) bm^-hm{Z {ddaU
(D) Cn`w©º$ g^r
26. amoH$‹S> àdmh {ddaU V¡`ma H$aVo g_`, `{X àMmbZ, {Zdoe VWm {dÎmr` J{V{d{Y`m| go ewÕ
amoH$‹S> àdmh ZH$mamË_H$ h¡, Vmo Bgo Ama§{^H$ amoH$‹S> eof _| ___________ OmVm h¡,
___________ amoH$‹S> eof àmßV H$aZo Ho$ {bE & 1
27. H$ånZr Ho$ pñW{V {ddaU _| ‘gmd©O{ZH$ O_m’ {ZåZ _| go {H$g erf©H$/Cn-erf©H$ Ho$ AÝVJ©V
Xem©E OmVo h¢ : 1
(A) A_yV© n[agån{Îm`m±
(B) Mmby Xo`VmE±
(C) A§eYmaH$ {Z{Y`m±
(D) AMb Xo`VmE±
.67/3/1 26
PART B
OPTION 1
(Analysis of Financial Statements)
23. For a company manufacturing garments, procurement of raw material,

incurrence of manufacturing expenses, sale of garments are classified as
____________ activities. 1
24. Paid < 4,00,000 to acquire shares in R.V. Ltd. and received a dividend of
< 40,000 after acquisition. These transactions will result in 1
(A) Cash used in investing activities < 4,00,000.
(B) Cash generated from financing activities < 4,40,000.
(C) Cash used in investing activities < 3,60,000.
(D) Cash generated from financing activities < 3,60,000.
25. Which of the following is not a tool of Financial Statements Analysis ? 1

(A) Balance Sheet
(B) Cash Flow Statement
(C) Statement of Profit and Loss
(D) All of the above
26. While preparing Cash Flow Statement, if net cash flow from operating,
investing and financing activities is negative the same is ___________ to
opening cash balance to obtain ___________ cash balance. 1
27. ‘Public Deposits’ appear in the company’s Balance Sheet under the
head/subhead : 1
(A) Intangible Assets
(B) Current Liabilities
(C) Shareholders’ Funds
(D) Non-Current Liabilities
.67/3/1 27 P.T.O.
28. ‘A{J«_ àmá Am`’ EH$ H$ånZr Ho$ pñW{V {ddaU _| ___________ Cn-erf©H$ Ho$ AÝVJ©V
Xem©B© OmVr h¡ & 1
29. ‘< 35,000 Ho$ _mb H$m ZJX H«$` àMmbZ AZwnmV H$mo ~‹T>mEJm &’ Š`m `h H$WZ ghr h¡ ?
H$maU Xr{OE & 1
30. {ZåZ gyMZm go Mmby AZwnmV VWm G$U-g_Vm AZwnmV H$s JUZm H$s{OE : 3
<
AMb n[agån{Îm`m± 16,00,000
Mmby n[agån{Îm`m± 4,00,000
H$m`©erb ny±Or 2,00,000
AMb Xo`VmE± 12,00,000
AWdm
{ZåZ gyMZm go Amapå^H$ _mbgyMr (BÝd|Q´>r) VWm ApÝV_ _mbgyMr (BÝd|Q´>r) H$s JUZm
H$s{OE :
_mbgyMr (BÝd|Q´>r) AmdV© AZwnmV = 5 JwUm
àMmbZm| go AmJ_ = < 8,00,000
gH$b bm^ AZwnmV = 25%
ApÝV_ _mbgyMr (BÝd|Q´>r), Amapå^H$ _mbgyMr go < 20,000 A{YH$ Wr & 3
31. {dMma {b{_Q>oS> H$s nwñVH$m| go àmá {ZåZ gyMZm go 31 _mM©, 2019 H$mo g_má hþE df© Ho$
{bE VwbZmË_H$ bm^-hm{Z {ddaU V¡`ma H$s{OE : 4
{ddaU 2018 − 19 2017 − 18
Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb

àMmbZm| go AmJ_ H$s bmJV H$m 300% H$s bmJV H$m 200%
Cn^moJ {H$E JE _mb H$s bmJV < 4,00,000 < 2,00,000
AÝ` ì`` Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb

H$s bmJV H$m 20% H$s bmJV H$m 20%
H$a Xa 50% 50%
AWdm
.67/3/1 28
28. ‘Income received in advance’ appears in the Balance Sheet of a company
under the sub-head ___________ . 1
29. ‘Purchase of goods < 35,000 for cash will increase the operating ratio.’ Is
the statement correct ? Give reasons. 1
30. Calculate the Current Ratio and Debt-Equity Ratio from the following
information : 3
<
Non-Current Assets 16,00,000
Current Assets 4,00,000
Working Capital 2,00,000
Non-Current Liabilities 12,00,000
OR
From the following information, determine the opening inventory and the
closing inventory :
Inventory Turnover Ratio = 5 times
Revenue from Operations = < 8,00,000
Gross Profit Ratio = 25%
Closing inventory was < 20,000 more than the opening inventory. 3
31. From the following information obtained from the books of Vichar Ltd.,
prepare a Comparative Statement of Profit and Loss for the year ending
31st March, 2019 : 4
Particulars 2018 − 19 2017 − 18
300% of cost of 200% of cost of

Revenue from operations
materials consumed materials consumed
Cost of materials consumed < 4,00,000 < 2,00,000

20% of cost of 20% of cost of
Other expenses
materials consumed materials consumed
Tax rate 50% 50%
OR
.67/3/1 29 P.T.O.
31 _mM©, 2019 H$mo gm§Mr {b{_Q>oS> Ho$ {ZåZ pñW{V {ddaU go EH$ gm_mÝ` AmH$ma H$m
pñW{V {ddaU V¡`ma H$s{OE : 4
gm§Mr {b{_Q>oS>
31 _mM©, 2019 H$mo pñW{V {ddaU
ZmoQ> 31.3.2019 31.3.2018
{ddaU
g§. < <
I– g_Vm VWm Xo`VmE± :
1. A§eYmaH$ {Z{Y`m± :
(A) A§e ny±Or 4,00,000 2,00,000
(~) g§M` Ed§ Am{YŠ` 1,00,000 70,000
2. AMb Xo`VmE± :
XrK©H$mbrZ CYma 3,00,000 4,30,000
3. Mmby Xo`VmE± :
ì`mnm[aH$ Xo` 2,00,000 3,00,000
Hw$b 10,00,000 10,00,000
II – n[agån{Îm`m± :
1. AMb n[agån{Îm`m± :
ñWm`r n[agån{Îm`m± :
_yV© n[agån{Îm`m± 6,00,000 5,00,000
2. Mmby n[agån{Îm`m± :
(A) _mbgyMr (ñQ>m°H$) 2,50,000 2,00,000
(~) amoH$‹S> Ed§ amoH$‹S> Vwë` 1,50,000 3,00,000
Hw$b 10,00,000 10,00,000
.67/3/1 30
From the following Balance Sheet of Sanchi Ltd., as at 31st March, 2019,
prepare a common size Balance Sheet : 4
Sanchi Ltd.
Balance Sheet as at 31st March, 2019
Note 31.3.2019 31.3.2018

Particulars No. < <
I – Equity and Liabilities :
1. Shareholders Funds :
(a) Share Capital 4,00,000 2,00,000
(b) Reserves and Surplus 1,00,000 70,000
2. Non-Current Liabilities :
Long-term Borrowings 3,00,000 4,30,000
3. Current Liabilities :
Trade Payables 2,00,000 3,00,000
10,00,000 10,00,000
Total
II – Assets :
1. Non-Current Assets :
Fixed Assets :
Tangible Assets 6,00,000 5,00,000
2. Current Assets :
(a) Inventories 2,50,000 2,00,000
(b) Cash and Cash Equivalents 1,50,000 3,00,000
Total 10,00,000 10,00,000
.67/3/1 31 P.T.O.
32. 31_mM©, 2019 H$mo g_má hþE df© Ho$ {bE AemoH$ {b{_Q>oS> H$s àMmbZ J{V{d{Y`m| go
ewÕ amoH$‹S> àdmh ‘eyÝ`’ Wm & AemoH$ {b{_Q>oS> Ho$ 31 _mM©, 2019 H$mo {ZåZ pñW{V {ddaU
go amoH$‹S> àdmh {ddaU V¡`ma H$s{OE :
AemoH$ {b{_Q>oS>
31 _mM©, 2019 H$mo pñW{V {ddaU
ZmoQ> 31.3.2019 31.3.2018
{ddaU g§. < <
I – g_Vm Ed§ Xo`VmE± :
1. A§eYmar$ {Z{Y`m± :
(A) A§e ny±Or 19,00,000 11,00,000

(~) g§M` Ed§ Am{YŠ` 1 1,60,000 2,00,000
2. AMb Xo`VmE± :
XrK©H$mbrZ CYma 2 1,00,000 4,00,000

3. Mmby Xo`VmE± :
(A) AënH$mbrZ CYma 3 2,50,000 2,30,000

(~) AënH$mbrZ àmdYmZ 4 1,90,000 2,70,000
Hw$b 26,00,000 22,00,000
II – n[agån{Îm`m± :
1. AMb n[agån{Îm`m± :
ñWm`r n[agån{Îm`m± :
(i) _yV© n[agån{Îm`m± 5 15,00,000 11,00,000
(ii) A_yV© n[agån{Îm`m± 6 2,80,000 1,70,000
2. Mmby n[agån{Îm`m± :
(A) Mmby {Zdoe 1,30,000 2,90,000
(~) ì`mnm[aH$ àmß` 3,90,000 4,10,000
(g) amoH$‹S> Ed§ amoH$‹S> Vwë` 3,00,000 2,30,000
Hw$b 26,00,000 22,00,000
.67/3/1 32
32. There was ‘Nil’ net cash flow from operating activities of Ashok Ltd. during
the year ending 31st March, 2019. From the following Balance Sheet of
Ashok Ltd. as at 31st March, 2019, prepare a Cash Flow Statement :
Ashok Ltd.
Balance Sheet as at 31st March, 2019
Note 31.3.2019 31.3.2018

Particulars
No. < <
I – Equity and Liabilities :
1. Shareholders Funds :
(a) Share Capital 19,00,000 11,00,000
(b) Reserves and Surplus 1 1,60,000 2,00,000
2. Non-Current Liabilities :
Long-term Borrowings 2 1,00,000 4,00,000
3. Current Liabilities :
(a) Short-Term Borrowings 3 2,50,000 2,30,000
(b) Short-Term Provisions 4 1,90,000 2,70,000
Total 26,00,000 22,00,000
II – Assets :
1. Non-Current Assets :
Fixed Assets :
(i) Tangible Assets 5 15,00,000 11,00,000
(ii) Intangible Assets 6 2,80,000 1,70,000
2. Current Assets :
(a) Current Investments 1,30,000 2,90,000
(b) Trade Receivables 3,90,000 4,10,000
(c) Cash and Cash Equivalents 3,00,000 2,30,000
Total 26,00,000 22,00,000
.67/3/1 33 P.T.O.
ImVm| Ho$ ZmoQ²>g :
ZmoQ> 31.3.2019 31.3.2018

{ddaU
g§. < <
1. g§M` Ed§ Am{YŠ` :

Am{YŠ` (bm^-hm{Z {ddaU H$m eof) 1,60,000 2,00,000
2. XrK©H$mbrZ CYma :
8% G$UnÌ 1,00,000 4,00,000
3. AënH$mbrZ CYma :
~¢H$ A{Y{dH$f© 2,50,000 2,30,000
4. AënH$mbrZ àmdYmZ :
H$a àmdYmZ 1,90,000 2,70,000
5. _yV© n[agån{Îm`m± :
g§`§Ì VWm _erZar 16,30,000 11,70,000
EH${ÌV (g§{MV) _yë`õmg (1,30,000) (70,000)
15,00,000 11,00,000
6. A_yV© n[agån{Îm`m± :
»`m{V 2,80,000 1,70,000
A{V[aº$ gyMZm :
(i) < 60,000 nwñVH$ _yë` H$s EH$ _erZar ({Og na < 20,000 _yë`õmg bJm`m
J`m Wm) H$mo < 6,000 H$s hm{Z na ~oMm J`m &
(ii) 8% G$UnÌm| H$m emoYZ 1 OwbmB©, 2018 H$mo {H$`m J`m & 6
.67/3/1 34
Notes to Accounts :
Note 31.3.2019 31.3.2018

Particulars
No. < <
1. Reserves and Surplus :

Surplus (Balance in the
Statement of Profit and Loss) 1,60,000 2,00,000
2. Long-term Borrowings :
8% Debentures 1,00,000 4,00,000
3. Short-term Borrowings :
Bank overdraft 2,50,000 2,30,000
4. Short-term Provisions :
Provision for Tax 1,90,000 2,70,000
5. Tangible Assets :
Plant and Machinery 16,30,000 11,70,000
Accumulated Depreciation (1,30,000) (70,000)
15,00,000 11,00,000
6. Intangible Assets :
Goodwill 2,80,000 1,70,000
Additional information :
(i) A machinery of the book value of < 60,000, (depreciation provided

thereon < 20,000) was sold at a loss of < 6,000.
(ii) 8% Debentures were redeemed on 1st July, 2018. 6
.67/3/1 35 P.T.O.
^mJ I
{dH$ën 2
(A{^H${bÌ boIm§H$Z)
23. ImVm| Ho$ g_yhrH$aU Ho$ {bE S>oQ>m H$mo {H$Z _w»` ^mJm| _| dJuH¥$V {H$`m OmVm h¡ : 1
(A) n[agån{Îm`m±, Xo`VmE± d ny±Or
(B) n[agån{Îm`m±, ñdm_r g_Vm, AmJ_ d IM}
(C) n[agån{Îm`m±, ny±Or, Xo`VmE±, AmJ_ d IM}
(D) ny±Or, AmJ_ d IM}
24. EŠgob _| A1 : E2 H$m AW© h¡ : 1
(A) EŠgob erQ> Ho$ H$m°b_
(B) EŠgob erQ H$s n§{º$`m±
(C) EŠgob erQ Ho$ Ama§{^H$ d A§{V_ {~ÝXþAm| Ho$ ~rM H$m°b_
(D) EŠgob erQ na A go E VH$ Ho$ Aja
25. EŠgog S>oQ>m AmYma (S>oQ>m~og) go EH$ CÎm_ ñdê${nV N>nmB©-`mo½` S>oQ>m àmá H$aZo Ho$ {bE h_
à`moJ H$aVo h¢ : 1
(A) Vm{bH$m
(B) Šd¡ar
(C) \$m°_©
(D) à{VdoXZ
26. {ZåZ _§o go H$m¡Z-gr A{^H${bÌ boIm§H$Z àUmbr H$s gr_m Zht h¡o ? 1
(A) {~Obr H$s ny{V© _| ~mYm Ho$ H$maU S>oQ>m H$m Imo OmZm `m ãm~ hmo OmZm &
(B) S>oQ>m _| h¡qH$J H$s àd¥{Îm H$m hmoZm &
(C) S>oQ>m H$s CnbãYVm g~Ho$ {bE Z hmoZm &
(D) {~Zm àmoJ«mq_J H$s A{Z{X©îQ> (un-specified) [anmoQ²>©g CËnÞ Zhr§ H$s Om gH$Vr &
27. EH$ àH$moð> (gob) g§X^© {Og_| n§{º$ AWdm H$m°b_ H$mo pñWa aI H$a O~ H$moB© gyÌ AWdm
\§$ŠeZ {H$gr AÝ` ñWmZ (location) na Xmoham`m OmVm h¡, Vmo Cgo H$hVo h¢ : 1
(A) Eãgmoë`yQ> àH$moð> g§X^©
(B) {dñVma
(C) gmnoj àH$moð> g§X^©
(D) {_{lV àH$moð> g§X^©
.67/3/1 36
PART B
OPTION 2
(Computerised Accounting)
23. The data is classified for creating groups of accounts in the heads of : 1
(A) Assets, Liabilities and Capital
(B) Assets, Owners’ equity, Revenue and Expenses
(C) Assets, Capital, Liabilities, Revenue and Expenses
(D) Capital, Revenue and Expenses
24. A1 : E2 in Excel refers to : 1

(A) Column on Excel sheet
(B) Row on Excel sheet
(C) Column between start and end points of Excel sheet
(D) Alphabets between A to E on Excel sheet
25. To expect a well formatted printable data from Access database, we use : 1
(A) Table
(B) Query
(C) Form
(D) Report
26. Which of the following is not a limitation of Computerised Accounting

system ? 1
(A) Data may be lost or corrupted due to power interruptions.
(B) Data is prone to hacking.
(C) Data is not made available to everybody.
(D) Unprogrammed and un-specified reports cannot be generated.
27. A cell reference that holds either row or column constant when the
formula or function is copied to another location is known as : 1
(A) Absolute cell reference
(B) Ranges
(C) Relative cell reference
(D) Mixed cell reference
.67/3/1 37 P.T.O.
28. A{^H${bÌ boIm§H$Z àUmbr _| (i) ___________ H$mo BZnwQ> _mZm OmVm h¡ {Ogo [anmoQ>©
~ZmZo Ho$ {bE (ii) ___________ Ho$ _mÜ`_ go àH«${_V {H$`m OmVm h¡ & 1
29. EH$ Eogm H$moS> {Og_| Aja `m g§{já Zm_, H$m à`moJ EH$ gyMZm Ho$ ^mJ H$mo gm§Ho${VH$
eãXm| _| {M{•V H$aZo Ho$ {bE {H$`m OmVm h¡ ___________ H$moS> H$hbmVm h¡ & 1
30. ‘Zb d¡ë`yµO’ VWm ‘H$m°ånb¡Šg EQ´>rã`yQ²>g’ H$mo g_PmBE & 3

AWdm
Q>¡br gm°âQ>doà _| à{d{îQ> H$aZo Ho$ {bE à`moJ {H$E OmZo dmbo {H$Ýht Xmo àH$ma Ho$ à_mUH$m|
(dmCMg©) H$s CXmhaUm| H$s ghm`Vm go ì`m»`m H$s{OE & 3
31. boIm§H$Z gyMZm àUmbr H$s {H$Ýht Xmo Cn-àUm{b`m| H$mo g_PmBE & 4
AWdm
J«mµ\$ H$m Š`m AW© h¡ ? BgHo$ {H$Ýht VrZ bm^m| H$mo g_PmBE & 4
32. E.Ama. Egmo{gEQ²>g {b{_Q>oS> Ho$ H$m`m©b` _wå~B© d dS>moXam _| pñWV h¢ & _wå~B© Ho$ {bE
_H$mZ {H$am`m ^Îmm (HRA ) < 10,000 h¡ Am¡a dS>moXam Ho$ {bE `h < 8,000 h¡ &
_h±JmB© ^Îmo H$s JUZm _yb doVZ (BP) Ho$ AmYma na H$s OmVr h¡ & `{X _yb doVZ
 < 14,000 h¡, Vmo$15%, Am¡a `{X _yb doVZ  < 15,000 h¡, Vmo 10% & _mZH$ {Xdg
30 {XZ à{V _hrZm _mZo OmVo h¢ &
\$m_y©bm ~VmVo hþE {ZåZ H$_©Mm[a`m| Ho$ {bE gH$b doVZ H$s JUZm EŠgob Ho$ gyÌm| Ho$
AZwgma H$s{OE :
(i) ZraOm _wå~B© H$m`m©b` _| H$m`©aV h¡ & CgH$m _yb doVZ < 30,000 h¡ & CgZo {~Zm
doVZ Ho$ 5 {XZ H$m AdH$me {b`m h¡ &
(ii) _ZZ dS>moXam H$m`m©b` _| H$m`©aV h¡ & CgH$m _yb doVZ < 14,000 h¡ & CgZo {~Zm
doVZ Ho$ {H$gr àH$ma H$m AdH$me Zht {b`m h¡ & 6
.67/3/1 38
28. Computerised Accounting system takes (i) ___________ as inputs which
are processed through (ii) ___________ to generate reports. 1
29. A code which consists of alphabet or abreviation as symbol to codify a

piece of information is known as ___________ . 1
30. Explain ‘Null Values’ and ‘Complex Attributes’. 3

OR
Explain any two types of vouchers used for entry in Tally software with
the help of examples. 3
31. Explain any two subsystems of accounting information system. 4

OR
What is meant by a graph ? Explain any three of its advantages. 4
32. A.R. Associates Ltd. have their offices in Mumbai and Vadodara. HRA for
Mumbai is < 10,000 and Vadodara is < 8,000. DA is calculated on Basic
Pay (BP) as 15% for BP  < 14,000 and 10% for BP  < 15,000. Standard
number of days are taken as 30 days per month.
Give the formulae and calculate the amount of Gross Salary using Excel
for the following employees :
(i) Neerja is working in Mumbai office. Her Basic Pay is < 30,000.
She availed leave without pay for 5 days.
(ii) Manan is working in Vadodara office. His Basic Pay is < 14,000.
He did not avail any leave without pay. 6
.67/3/1 39 P.T.O.
-Strictly Confidential: (For Internal and Restricted Use Only)
Senior School Certificate Examination March -2020
Marking Scheme – Accountancy
SUBJECT CODE: 055 PAPER CODE: 67/3/1, 67/3/2, 67/3/3
General Instructions:
1. You are aware that evaluation is the most important process in the actual and correct
assessment of the candidates. A small mistake in evaluation may lead to serious problems
which may affect the future of the candidates, education system and teaching profession. To
avoid mistakes, it is requested that before starting evaluation, you must read and understand the
spot evaluation guidelines carefully. Evaluation is a 10-12 days mission for all of us. Hence,
it is necessary that you put in your best efforts in this process.
2. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be
done according to one’s own interpretation or any other consideration. Marking scheme should
be strictly adhered to and religiously followed. However, while evaluating, answers which
are based on latest information or knowledge and innovative, they may be assessed and
marks be awarded to them.
3. The Head-Examiner must go through the first five answer books evaluated by each evaluator
on the first day to ensure that evaluation has been carried out as per the instructions given in the
Marking Scheme. The remaining answer scripts meant for evaluation shall be given only after
ensuring that there is no significant variation in the marking of individual evaluators.
4. Evaluators will mark (√) wherever the answer is correct . for wrong answers (×) be marked
.Evaluators will not put right mark (√) while evaluating which gives an impression that answer
is correct but no mark is awarded. This is most common mistake which evaluators are
committing.
5. If a question has parts, please award marks on the right hand side for each part. Marks awarded
for different parts of the question should then be totalled up and written in the left hand margin
and encircled. This may be followed strictly.
6. If a question does not have any parts, marks must be awarded in the left hand margin and
encircled. This may be followed strictly.
7. If a student has attempted an extra question, answer of the question deserving more marks
should be retained and other answer scored out.
8. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
9. Deductions up to 25% of the marks must be made if the student has not drawn formats of the
Journal and Ledger and has not given the narrations.
1
10. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing
Journal and Ledger accounts.
11. In theory questions, credit is to be given for the content and not for the format.
12. A full scale of marks 0-80 has to be used. Please do not hesitate to award full marks if the
answer deserves it.
13. Every examiner has to necessarily do evaluation work for full working hours i.e. 8 hours
everyday and evaluate 20 answer books per day.
14. Avoid the following common types of errors committed by the Examiners in the past.
- Leaving answer or part thereof unassessed in an answer script
- Giving more marks for an answer than assigned to it or deviation from the marking scheme.
- Wrong transference of marks from the inside pages of the answer book to the title page.
- Wrong question wise totaling on the title page.
- Wrong totaling of marks of the two columns on the title page
- Wrong grand total
- Marks in words and figures not tallying
- Wrong transference to marks from the answer book to award list
- Answers marked as correct but marks not awarded
15. Half or a part of answer marked correct and the rest as wrong but no marks awarded.
16. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be
marked as (x) and awarded zero(0) Marks.
17. Any unassessed portion, non-carrying over of marks to the title page or totalling error detected
by the candidate shall damage the prestige of all the personnel engaged in the evaluation work
as also of the Board. Hence in order to uphold the prestige of all concerned, It is again
reiterated that the instructions be followed meticulously and judiciously.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for
Spot Evaluation before starting the actual evaluation.
19. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the
title page, correctly totaled and written in figures and words.
20. The board permits candidates to obtain photocopy of the Answer Book on request in an RTI
application and also separately as a part of the re- evaluation process on payment of the
processing charges.
2
..
Marking Scheme 2019-20

Accountancy (055)
67/3/1 Marks
Expected Answers/ Value Points
1 - - Q. Puneet and Deepak……….
Ans. 1:1:1 1 mark
2 - - Q. Which of the following…………..
Ans. (C)/ Endowment Fund 1 mark
3 10 1 Q. Subscribed capital……………….
Ans. (B)/ That part of issued capital which has been actually subscribed by the public 1 mark
4 - - Q. Ashok and Sudha………….
Ans. (C)/ 1/4 1 mark
5 - - Q. Which of the following…………
Ans. (B)/ It records receipts and payments of revenue nature only 1 mark
6 - - Q. That part of subscribed…………..
Ans. Uncalled Capital 1 mark
7 - - Q. Rajat, Mishi and Tanvi…………….
Ans. (C)/ ₹14,000 1 mark
8 2 6 Q. Excess value of net assets…………..
Ans. (A)/ Credited to Capital reserve 1 mark
3

9 3 7 Q. First call amount…………
Ans. (D)/ Credited to calls-in-advance account 1 mark
10 - - Q. Premier Ltd issued………..
Ans. (A)/ ₹30,000 1 mark
11 5 9 Q. Fill in the blanks…………….
Ans.
Journal
Date Particulars F Dr. Cr.
Amount Amount
(₹) (₹) 1 mark
Partner’s Capital / Current A/c Dr. 4,000

To Interest on Drawings A/c 4,000
(Being Interest on drawings charged)
12 - - Q. On 1st April 2018, Maitryi Club……………
Ans. (D)/ Zero 1 mark
13 - - Q. Vashya Ltd. issued…………..
Ans.
Date Particulars F Dr. Cr.
Amount Amount
(₹) (₹)
Debenture Suspense A/c Dr. 30,00,000 1 mark
To 10% Debentures A/c 30,00,000
(Being ₹30,00,000 10% debentures issued as a
collateral security for a loan of ₹25,00,000)
14 14 14 Q. From the following particulars…………
4

Ans.
Shyamji Charitable Society
Dr. Receipts and Payments Account for the year ended 31st March 2019 Cr.
Receipts Amount Payments Amount
(₹) (₹)
To Balance b/d By Miscellaneous Expenses 98,000
Cash 16,000 By Balance c/d 3,69,000
Bank 28,000 44,000
To Subscriptions 3 marks
2017-18 11,000
2018-19 49,000 60,000
To Donations 2,90,000
To Locker Rent 32,000
To Entrance Fees 41,000
4,67,000 4,67,000
OR OR
Q. From the given information……………
Dr. Stock of Medicines A/c Cr.

Particulars Amount Particulars……………….. Amount
(₹) (₹)
To balance b/d 86,000 By Income and
To Creditors (credit purchases) 4,99,000 Expenditure A/c-
Medicines consumed 5,46,000 1 ½ marks
By balance c/d 39,000

5,85,000 5,85,000
Dr. Creditors for Medicines A/c Cr.

Particulars Amount Particulars……………….. Amount
(₹) (₹) 1 ½ marks
To balance b/d (advance) 26,000 By balance b/d (creditors) 34,000 =
To Cash 5,10,000 By Purchases (bal.fig) 4,99,000 3 marks
To balance c/d (creditors) 29,000 By balance c/d (Advance) 32,000
5,65,000 5,65,000
5

Alternatively:
Credit Purchases= Payment made to creditors+ closing Creditors – Opening Creditors –
Closing advance + Opening advance
= ₹5,10,000 + ₹29,000 – ₹34,000 - ₹32,000 + ₹26,000
= ₹4,99,000………………………………………………….. 1½ marks
Medicines consumed = Opening stock of Medicines + Purchases – Closing Stock of

Medicines
= ₹86,000 + ₹4,99,000 – ₹39,000
= ₹5,46,000…………………….. 1½ marks
15 16 17 Q. Veena and Somesh were partners……………..
Ans.
Calculation of Goodwill:
Particulars Amount
(₹)
Total Capital of the firm on the basis of Nisha’s share of capital 3,60,000
Less Actual capital of the firm 2,70,000 1 mark
Goodwill of the firm 90,000
JOURNAL
Date Particulars Dr. Cr.
Amount Amount
(₹) (₹)
Cash / Bank A/c Dr. 90,000
To Nisha’s Capital A/c 90,000
1 mark
(Capital brought in by Nisha)
Nisha’s Current A/c Dr. 22,500

To Veena’s capital A/c 7,500
To Somesh’s capital A/c 15,000
2 marks
(Nisha’s share in goodwill credited to old partners in the
sacrificing ratio)
=
6

4 marks
OR OR
Q. Asha, Rina and Chahat…………..
Ans.
JOURNAL
Amount Amount
(₹) (₹)
General Reserve Dr. 2,00,000
To Asha’s Capital A/c 80,000
To Rina’s Capital A/c 80,000
To Chahat’s Capital A/c 40,000 1 mark
(General Reserve distributed among the partners in the

old ratio)
Chahat’s Capital A/c Dr. 20,000
To Asha’s Capital A/c Dr. 10,000
To Rina’s Capital A/c 10,000 ½ mark
(Compensation paid by gaining partner to sacrificing

partner)
Bad debts A/c Dr. 40,000

To Debtors A/c 40,000
(Bad debts written off) ½ mark
Provision for doubtful debts A/c Dr. 20,000

Revaluation A/c Dr. 20,000
To Bad Debts A/c 40,000 ½ mark
(Bad debts charged to provision and revaluation)
Revaluation A/c Dr. 11,000

½ mark
To Provision for doubtful debts A/c 11,000
(Provision for doubtful debts created @5% on debtors)
Asha’s Capital A/c Dr. 12,400

Rina’s Capital A/c Dr. 12,400
1 mark
Chahat’s Capital A/c Dr. 6,200
=
To Revaluation A/c 31,000
4 marks
(Loss on Revaluation debited to Partners’ Capital
7

Accounts)
Note: In case an examinee has credited provision for doubtful debts account with
₹31,000 and has charged full 40,000 of bad debts to Provision for doubtful debts
account , full credit be given.
16 17 18 Q. Neena and Sara were partners ………………..
Ans.
. JOURNAL
Amount Amount
(₹) (₹) 1 mark
Sara’s Current A/c Dr. 9,000

To Neena’s Current A/c 9,000
(Interest on Capital wrongly credited, now rectified)
Working Note:
Table showing adjustments
Partners Interest on Profits Interest Profits Net Effect
capital 4:5 on 5:1
Dr. Cr. capital Cr. Dr. Cr.
Dr. 3 marks
(₹) (₹) (₹) (₹) (₹)
(₹)
=
Neena 30,000 24,000 30,000 45,000 - 9,000
4 marks
Sara 24,000 30,000 24,000 9,000 9,000 -
54,000 54,000 54,000 54,000 9,000 9,000
(Note: If an examinee has calculated the net effect correctly by any other method,
full credit be given)
17 - - Q. Aditi, Kartik and Tina………………….
8

Ans.
. JOURNAL

Amount Amount
(₹) (₹)
2019 Kartik’s Capital A/c Dr. 30,000
Nov.1 Tina’s Capital A/c Dr. 20,000
To Aditi’s Capital A/c 50,000
(Deceased partner’s share of goodwill transferred to her
capital A/c) 1x4
” Profit and Loss Suspense A/c Dr. 28,000

To Aditi’s Capital A/c 28,000 =
(Aditi’s share of profit till the date of death credited to

Aditi’s Capital A/c) 4 marks
” Aditi’s Capital A/c Dr. 3,78,000

To Aditi’s Executors A/c 3,78,000
(Balance in Aditi’s capital A/c transferred to her
Executors A/c)
” Aditi’s Executors A/c Dr. 1,89,000

To Cash A/c 1,89,000
(Aditi’s Executors were paid half of the amount due to
them)
- No marks to be deducted if the dates not written
- If an examinee has raised the goodwill, full credit be given.
18 15 16 Q. From the given Receipts…………………..
9

Ans. Friends Club
Dr. Income and Expenditure A/c for the year ended March 31, 2019 Cr.
Expenditure Amount Income Amount
(₹) (₹)
To depreciation on furniture By Subscriptions 75,000 ½x8
(10,000+4,000) 14,000 By Entrance fees 1,20,000
To Salaries 1,00,000 By Donations 44,000
Less outstanding salary By Sale of old Sports =
at the beg of the year (6,000) 94,000 materials 2,000
To Secretary’s honorarium 4,000 4 marks
To surplus- excess of income
over expenditure 1,29,000
2,41,000 2,41,000
19 - - Q. Vasudha and Dewan……………… .
Ans. Journal
Amount Amount
(₹) (₹)
(i) Bank/ Cash A/c Dr. 62,300
To Realisation A/c 62,300
(Investments realised, net amount received)
Alternatively:
Bank/ Cash A/c Dr. 63,000
(Investments realised) 1x6
=
Realisation A/c Dr. 700

To Bank/ Cash A/c 700 6 marks
(Commission paid to broker)

(ii) Realisation A/c Dr. 23,000
To Bank A/c 23,000
(Payment made to creditors as a part of settlement of their
dues)
10

(iii) Vasudha’s Capital A/c Dr. 2,000
(Written off old Furniture taken over by Vasudha)
(iv) Realisation A/c Dr. 45,000

To Dewan’s capital A/c 45,000
(Ms Dewan’s loan settled by Dewan)
(v) Realisation A/c Dr. 7,000

To Dewan’s capital A/c 7,000
(Remuneration allowed for looking after dissolution
process)
Dewan’s capital A/c Dr. 11,000

To Cash/ Bank A/c 11,000
(Dissolution expenses borne by Dewan, paid by the firm)
(vi) Vasudha’s Capital A/c Dr. 3,600

Dewan’s Capital A/c Dr. 5,400
(Loss on realisation debited to partners capital accounts)
.
20 19 20 Q. Pass the necessary journal entries………………
Ans.
(i)
Anand Ltd.
Journal
Amount Amount
(₹) (₹)
Vendors Dr. 4,80,000
To 9% Debentures A/c 4,00,000 2 marks
To Securities Premium Reserve A/c 80,000

(Purchase consideration discharged by issuing 9%
Debentures at a premium)
11

(ii)
Dawar Ltd.
Journal
Amount Amount
(₹) (₹)
Bank A/c Dr. 10,50,000
To Debenture Application and Allotment A/c 10,50,000
(Application money received on 5,000 7%
Debentures) 1x2
=
Debenture Application and Allotment A/c Dr. 10,50,000 2 marks
Loss on issue of Debentures A/c Dr. 1,00,000

To Securities Premium Reserve A/c 50,000
To Premium on redemption of debentures A/c 1,00,000
(Allotment of 7% debentures at a premium,
redeemable at a premium)
+
(iii)
Novelty Ltd.
Journal
Amount Amount
(₹) (₹)
Bank A/c Dr. 95,000
To Debenture Application and Allotment A/c 95,000
(Application money received on 1,000 8%
1x2
Debentures)
=
Debenture Application and Allotment A/c Dr. 95,000
2 marks
Loss on issue of Debentures A/c Dr. 15,000
To Premium on redemption of debentures A/c 10,000
(Allotment of 8% debentures at a discount,
12

Alternatively:
Debenture Application and Allotment A/c Dr. 95,000
Discount on issue of Debentures A/c Dr. 5,000
Loss on issue of Debentures A/c Dr. 10,000
To 8% Debentures A/c 1,00,000 =
To Premium on redemption of debentures A/c 10,000 2+2+2
(Allotment of 8% debentures at a discount, =
6 marks
OR OR
Q. (i) On 1st April 2019, Bright Ltd…………………………
Ans.
(i)
Journal of Bright Ltd.

Amount Amount
(₹) (₹)
2019 Bank A/c Dr. 3,20,00,000
Apr.1 To Debenture Application A/c 3,20,00,000
(Application money received on 4,00,000
debentures)
Debenture Application A/c Dr. 3,20,00,000
To 6% Debentures A/c 3,20,00,000 1x4
(Application money on 6% debentures transferred =
to Debentures account) 4
marks
Debenture Allotment A/c Dr. 60,00,000
Discount on issue of Debentures A/c Dr. 20,00,000
(Allotment money due on 6% debentures)
13

Bank A/c Dr. 60,00,000
To Debenture Allotment A/c 60,00,000
(Allotment money received on 6% Debentures)
(No marks to be deducted if the dates are not written)
Q. Disha Ltd. took over…………………………….

(ii)
Disha Ltd.
Journal
Amount Amount
(₹) (₹)
Sundry Assets A/c Dr. 8,00,000
Goodwill A/c Dr 1,00,000
To Sundry Liabilities A/c 3,00,000
To Kriti Ltd. A/c 6,00,000
1x2
(Assets and liabilities taken over from Kriti Ltd.)
=
2 marks
Kriti Ltd.’s A/c Dr. 6,00,000
To Securities Premium Reserve A/c 1,00,000
(Purchase consideration discharged by issuing 9%
=
Debentures at a premium)
4+2
=
.
6 marks
21 22 21 Q. Rathi Ltd……………………..
Ans.
14

Rathi Ltd.
Journal
Amount Amount
(₹) (₹)
Bank A/c Dr. 6,00,000
To Share Application A/c 6,00,000
(Application amount received on 1,50,000 shares) ½ mark
Share Application A/c Dr. 6,00,000

To Share Capital A/c 3,00,000
To Share Allotment A/c 1,20,000
To Bank A/c 80,000 1 mark
(Shares allotted and excess application money transferred

to share allotment and balance refunded)
Share Allotment A/c Dr. 4,00,000

To Share Capital A/c 3,00,000 1 mark

(Allotment money due including premium)
Bank A/c Dr. 2,68,000

(Allotment money received except on 4,000 shares)
1 mark
Alternatively:
Bank A/c Dr. 2,68,000
Calls in arrears A/c Dr. 12,000
(Allotment money received except on 4,000 shares)
Share First and Final call A/c Dr. 4,00,000

½ mark
To Share Capital A/c 4,00,000
( Share First and final call money due)
15

Bank A/c Dr. 3,84,000
To Share First and Final call A/c 3,84,000
(First and final call money received except on 4,000
shares)
Alternatively:
1 mark
Bank A/c Dr. 3,84,000
To Share First and Final call A/c 4,00,000
(First and final call money received except on 4,000
shares)
Share Capital A/c Dr. 40,000

Securities Premium Reserve A/c Dr. 4,000
To Share Forfeiture A/c 16,000
To Share Allotment A/c 12,000
To Share First and Final Call A/c 16,000
(4,000 shares forfeited for non payment of allotment and
call money)
Alternatively: 1 mark
Share Capital A/c Dr. 40,000
To Calls in arrears A/c 28,000
(4,000 shares forfeited for non payment of allotment and
call money)
Bank A/c Dr. 36,000
To Share Capital A/c 20,000
To Securities Premium Reserve A/c 16,000 1 mark
(2,000 shares reissued for ₹18 per share)
Share Forfeiture A/c Dr. 8,000

To Capital Reserve A/c 8,000
(Gain on reissue of forfeited shares transferred to capital 1 mark
reserve) =
8 marks
16

OR
OR
Q. Eiko Ltd invited……………………………..
Ans.
Eiko Ltd.
Journal
Amount Amount
(₹) (₹)
Bank A/c Dr. 12,00,000
To Equity Share Application A/c 12,00,000 ½ mark
(Application amount received on 3,00,000 shares)
Equity Share Application A/c Dr. 12,00,000

To Equity Share Capital A/c 8,00,000
To Equity Share Allotment A/c 4,00,000 1 mark
(Shares allotted and excess application money

transferred to share allotment account)
Equity Share Allotment A/c Dr. 12,00,000

To Equity Share Capital A/c 6,00,000
To Securities Premium Reserve A/c 6,00,000 1 mark
(Amount due on Allotment money including premium)
Bank A/c Dr. 7,90,000

To Equity Share Allotment A/c 7,84,000
To Calls in Advance A/c 6,000
(Allotment money and calls in advance received)
1 mark
Alternatively:
Bank A/c Dr. 7,90,000
To Equity Share Allotment A/c 8,00,000
To Calls in Advance A/c 6,000
(Allotment money and calls in advance received)
17

Equity Share Capital A/c Dr. 28,000
To Equity Share Allotment A/c 16,000 1 mark
(4,000 shares forfeited for non payment of allotment
money)
Alternatively:
Equity Share Capital A/c Dr. 28,000
To Calls in arrears A/c 16,000
(4,000 shares forfeited for non payment of allotment
money)
Equity Share First and Final call A/c Dr. 5,88,000

To Equity Share Capital A/c 5,88,000 ½ mark
(Share First and final call money due)
Bank A/c Dr. 5,82,000

Calls in Advance A/c Dr. 6,000
To Equity Share First and Final call A/c 5,88,000 1 mark
(First and final call money received)
Bank A/c Dr. 18,000

To Equity Share Capital A/c 20,000 1 mark
(2,000 shares reissued for ₹9 per share)

To Capital Reserve A/c 10,000 1 mark
(Gain on reissue of forfeited shares transferred to =
capital reserve) 8 marks
22 21 22
18

Q. Ashish and Nimish…
Ans.
Dr. Revaluation A/c Cr.

Particulars Amount Particulars Amount
(₹) (₹)
To Bad debts 1,000 By Furniture 65,400
To Provision for doubtful debts 4,400
To Stock 10,000
To Workmen’s compensation
claim 10,000 2 marks
To Gain on Revaluation
transferred to:
Ashish’s Capital A/c 24,000
Nimish’s Capital A/c 16,000 40,000
65,400 65,400
Note: In case an examinee has debited provision for doubtful debts account with
₹5,400, full credit be given.
Dr. Partners’ Capital Accounts Cr.
Particulars Ashish Nimish Geeta Particulars Ashish Nimish Geeta
(₹) (₹) (₹) (₹) (₹) (₹)
To Stock - 1,30,000 - By Balance b/d 3,10,000 2,90,000 -
A/c
By Cash A/c - - 3,00,000
To Balance 5,40,000 3,60,000 3,00,000
c/d By Premium for 30,000 20,000 - 1 mark for
goodwill A/c
each
By General reserve 30,000 20,000 -
capital A/c
By Revaluation A/c 24,000 16,000 - =
1x3
By Ashish Current 1,46,000 - -
=
A/c
3 marks
By Nimish Current - 1,44,000 -

A/c
5,40,000 4,90,000 3,00,000 5,40,000 4,90,000 3,00,000
19

Balance Sheet of the reconstituted firm as on 1st April 2019
Liabilities Amount Assets Amount 1 ½ marks
(₹) (₹) for correct
Capitals: Plant and Machinery 2,90,000 asset side
Ashish 5,40,000 Furniture 2,85,400 +
Nimish 3,60,000 Debtors 88,000 1½ marks
Geeta 3,00,000 12,00,000 Less Provision for for
Workmen’s compensation claim 30,000 doubtful debts 4,400 83,600 correct
Creditors 1,10,000 Cash 3,91,000 liabilities
Current accounts side
Ashish 1,46,000 =
Nimish 1,44,000 2,90,000 3 marks
13,40,000 13,40,000 =
2+3+3
Note: No marks are to be deducted for cumulative effect of an error =
8 marks
OR
OR
Q. Radha, Manas and Arnav…………………….
Dr. Revaluation A/c Cr.

(₹) (₹)
To Furniture 3,000 By Stock 48,000
To Provision for doubtful debts 5,000
2 marks
To Profit transferred to:
Radha’s Capital A/c 24,000
Manas’s Capital A/c 8,000
Arnav’s Capital A/c 8,000 40,000
48,000 48,000
20

Dr. Partners Capital Accounts Cr.
Particulars Radha Manas Arnav Particulars Radha Manas Arnav
(₹) (₹) (₹) (₹) (₹) (₹)
To Manas’s 30,000 - 10,000 By balance b/d 4,00,000 3,00,000 2,00,000
Capital A/c
By Investment
To Cash A/c - 68,000 - Fluctuation 60,000 20,000 20,000
To Manas’s Reserve 1 mark for
loan - 3,00,000 -
each
By Revaluation 24,000 8,000 8,000
capital A/c
To balance 4,54,000 - 2,18,000 A/c
c/d =
By Radha Capital - 30,000 - 1x3
A/c =
3 marks
By Arnav Capital - 10,000 -
A/c
4,84,000 3,68,000 2,28,000 4,84,000 3,68,000 2,28,000

To Arnav’s By balance b/d 4,54,000 - 2,18,000
Current A/c - - 50,000 By Radha’s
To balance 5,04,000 - 1,68,000 current A/c 50,000
c/d
5,04,000 2,18,000 5,04,000 2,18,000
1 ½ marks
for correct
Balance Sheet of the reconstituted firm as on 1st April 2019 asset side
+
Liabilities Amount Assets Amount
1 ½ marks
(₹) (₹)
for correct
Capitals Furniture 4,57,000
liabilities
Radha 5,04,000 Investments 1,90,000
side
Arnav 1,68,000 6,72,000 Stock 2,88,000
=
Debtors 2,20,000
3 marks
Manas’s Loan 3,00,000 Less Provision for
=
Arnav’s Current A/c 50,000 doubtful debts 15,000 2,05,000
2+3+3
Creditors 2,50,000 Cash 82,000
=
Radha’s Current A/c 50,000
8 marks
12,72,000 12,72,000
21

Note 1: No marks are to be deducted for cumulative effect of an error
Note 2: if an examinee has raised and written off the goodwill, full credit be given.
PART B
OPTION 1
Analysis of Financial Statements
23 25 27 Q. For company manufacturing garments………………
Ans. Operating 1 mark
24 - - Q. Paid ₹4,00,000 to acquire………………………………..
Ans. (C) / Cash used in investing activities (₹3,60,000) 1 mark
25 27 - Q. Which of the following…………………..
Ans. (A)/ Balance Sheet

1 mark
or
(C)/ Statement of Profit and Loss
26 - - Q. While preparing Cash Flow…………….. ½ mark

+
Ans. While preparing Cash flow Statement, if net cash flow from operating, investing ½ mark
and financing activities is negative, the same is added to opening cash balance to obtain =
closing cash balance. 1 mark
27 - - Q. ‘Public Deposits’ appear in………………………..

1 mark
Ans. (D)/ Non-Current Liabilities
28 - - Q. ‘Income received in advance’………………

1 mark
Ans. Other Current Liabilities
22

29 - - Q. ‘Purchase of goods………………… ½ mark
+
Ans. No ½ mark
Reason: Both purchases and Closing stock will increase by the same amount =
1 mark
30 30 30 Q. Calculate the Current Ratio and Debt-Equity Ratio………………..
Ans. Current Ratio = Current Assets/ Current Liabilities…………………………..1/2
Working Capital= Current Assets - Current Liabilities
ð ₹2,00,000 =₹4,00,000 - Current Liabilities
ð Current Liabilities =₹2,00,000……………………………………………………..1/2
Current ratio = 4,00,000/2,00,000 = 2:1…………………………………..……………..1/2
Debt Equity ratio= Debt/Equity………………………………………………………..……..1/2
3 marks
Debt = ₹12,00,000
Equity = Non Current Assets + Current Asset - Non Current Liabilities
= ₹16,00,000 + ₹4,00,000 – ₹12,00,000
= ₹6,00,000……………………………………………..………………………………..1/2
Debt Equity ratio = ₹12,00,000/ ₹6,00,000
= 2:1…………………………………….…………………..……………..1/2
OR OR
23

Q. From the following information, determine the opening inventory and closing
inventory.
Revenue from Operations = ₹8,00,000
Gross Profit Ratio = 25%
ð Gross profit= 25/100 x ₹8,00,000
ð Gross profit=₹2,00,000……………………………..……………………………..1
Cost of Revenue from Operations= Revenue from Operations – Gross profit
=₹8,00,000 – ₹2,00,000
=₹6,00,000………………………………………………………………..…………………………..1/2
Inventory Turnover Ratio = Cost of Revenue from Operations/ Average Inventory
ð 5 =₹6,00,000/ Average Inventory
ð Average Inventory=₹1,20,000…………………………………………………..1/2
Average Inventory = (Opening inventory + Closing Inventory)/2
ð ₹1,20,000 = (Opening inventory + Opening inventory+ ₹20,000)/2
ð Opening inventory = ₹1,10,000…………………………………………………..1/2
3 marks
ð Closing inventory=₹1,10,000 + ₹20,000= ₹1,30,000…………………..1/2
24

31 31 31 Q. From the following information…………………
Ans.
Vichar Ltd.
Comparative Statement of Profit and Loss
for the years ended 31st March 2018 and 31st March 2019
Particulars 2017-18 2018-19 Absolute Percentage

(₹) (₹) Increase/ Increase/
Decrease Decrease
(₹) (%)
Revenue from operations 4,00,000 12,00,000 8,00,000 200
½ mark
Total Revenue 4,00,000 12,00,000 8,00,000 200

½ mark
Less expenses:
Cost of materials
½ mark
consumed 2,00,000 4,00,000 2,00,000 100
Other expenses 40,000 80,000 40,000 100 ½ mark
Total expenses 2,40,000 4,80,000 2,40,000 100

½ mark
Profit before Tax 1,60,000 7,20,000 5,60,000 350

½ mark
Less Tax 80,000 3,60,000 2,80,000 350

½ mark
Profit after Tax 80,000 3,60,000 2,80,000 350 ½ mark

=
4 marks
OR OR
25

Q. From the following Balance Sheet……………………….
Sanchi Ltd.
Common Size Balance Sheet
As on 31st March 2018 and 31st March 2019
Particulars Note 31.3.2018 31.3.2019 % of % of

No.
(₹) (₹) Total Total
31.3.2018 31.3.2019
EQUITY AND
LIABILITIES
1. Shareholders Funds
½ mark
(a) Share capital 2,00,000 4,00,000 20 40
½ mark
(b) Reserves and Surplus 70,000 1,00,000 7 10
2. Non Current Liabilities
Long Term Borrowings 4,30,000 3,00,000 43 30 ½ mark
3. Current Liabilities
Trade Payables 3,00,000 2,00,000 30 20 ½ mark
Total 10,00,000 10,00,000 100 100
ASSETS
(1) Non Current Assets
(a) Fixed assets
½ mark
(i) Tangible assets 5,00,000 6,00,000 50 60
(2) Current Assets
½ mark
(a) Inventories 2,00,000 2,50,000 20 25
(b) Cash and Cash ½ mark
Equivalents 3,00,000 1,50,000 30 15
Total 10,00,000 10,00,000 100 100 ½ mark
=
4 marks
26

32 32 32 Q. There was ‘Nil’ net cash flow from……………………….
Ans.
Ashok Ltd.
Cash Flow Statement for the year ended 31st March 2019
Particulars Details(₹) Amount (₹)

CASH FLOWS FROM OPERATING ACTIVITIES
Cash Inflows from Operating activities Nil 1 mark
CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Goodwill (1,10,000)
Purchase of Plant and Machinery (5,40,000) 1 ½ marks
Sale of Plant and Machinery 54,000
Cash used in Investing activities (5,96,000)
CASH FLOWS FROM FINANCING ACTIVITIES

Issue of Share Capital 8,00,000
Redemption of 8% Debentures (3,00,000)
Interest paid on 8% Debentures (14,000) 2 marks
Bank overdraft raised 20,000
Cash Inflows from Financing activities 5,06,000
-
Net decrease in Cash and Cash equivalents (90,000)
½ mark
Add Opening balance of Cash and Cash equivalents
Current Investments 2,90,000
Cash and Cash equivalents 2,30,000 5,20,000
Closing balance of Cash and Cash equivalents 1/2 mark
Current Investments 1,30,000
Cash and Cash equivalents 3,00,000 4,30,000
27

Working Notes:
Dr. Plant and Machinery A/c Cr.

(₹) (₹)
To Balance b/d 11,70,000 By Accumulated Dep. A/c 20,000
To Cash A/c (bal. fig.) 5,40,000 By Statement of Profit and
Loss (loss on sale) 6,000
By Cash A/c 54,000 ½ mark
By balance c/d 16,30,000 for
both
17,10,000 17,10,000 the
accounts
=
Dr. Accumulated Depreciation A/c Cr. 6 marks
(₹) (₹)
To Plant and Machinery A/c 20,000 By Balance b/d 70,000
To Balance c/d 1,30,000 By Depreciation/ Statement of 80,000

P&L
1,50,000 1,50,000
PART B
OPTION II
Computerised Accounting
23 27 26 Q. The data is classified………………….
1 mark
Ans. (c)/ Assets, Capital, Liabilities, Revenue and Expenses.
24 28 27 Q. A1:E2 in Excel refers to……………….

1 mark
Ans. (c)/ Calls between start and end point.
28

25 29 28 Q. To expect a well formatted…………………
1 mark
Ans. (d) / Report
26 23 29 Q. Which of the following is …………………….

1 mark
Ans. (c)/ Data is not made available to everybody
27 24 25 Q. A cell reference that holds………………………

1 mark
Ans. (a)/ Absolute cell reference.
28 25 24 Q. Computerised Accounting system takes…………….

1 mark
Ans. Computerised Accounting system takes (i) Accounting transactions as inputs
which are processed through (ii) Accounting software to generate reports.
29 26 23 Q. A code which consist of alphabet……………………..

1 mark
Ans. Mnemonic codes.
30 30 30 Q. Explain ‘Null Values’ and ……………………………..
Ans.
Null Values:
Absence of data item is represented by a special value called null value. There are three
situations which may require the use of null value. 1½
-‐ When particular attribute does not apply to an entity. marks
-‐ Value of an attribute is unknown although it exist.
-‐ Unknown because it does not exist.
Complex Attributes :
These are composite and multivalue attributes which may be nested (or grouped) to 1½
constitute complex ones. The parenthesis { } are used of showing grouping of marks
components of composite attribute. The braces { } are used for showing the multivalue = 3 M arks
attributes.
29

OR OR
Q. Explain any two types of vouchers……………………….
Ans.
Types of vouchers (any three)

(i) Contra voucher: Used for fund transfer between cash and Bank A/c only. If cash is
withdrawn from Bank for office or deposited in the Bank from office this voucher will be
used. 1½ x 2 =
(ii) Receipt Voucher: All the inflow of money is recorded through receipt voucher. Such 3 marks
receipts may be toward any income such as receipts from Debtors, loan/advance taken or
refund of loan/advance etc.
(iii) Payment Voucher: All outflow of money is recorded through payment voucher such
payments may be towards any purchases, Expenses, due to creditors, loan/advance etc.
(iv) Journal Voucher: It is an adjustment voucher, normally used for non-cash

transactions like adjustment between ledgers.
31 31 31 Q. Explain any two subsystems………………….
Ans.
Any of the two subsystems (with explanation)
• Cash and bank subsystem
• Inventory subsystem
• Purchase + A/cs payable
• Payroll 2+2
• Fixed Assets accounting

• Expenses accounting =
• Tax accounting
• Final Accounts
4 marks
• Costing
30

• Budget
(With suitable explanation)
OR OR
Q. What is meant by a graph? Explain…………
A Graph is a pictorial presentation of data which has at least two dimensional 1 mark
relationships.
+
Three advantages: ½ mark for
1. Helps to explore the heading
2. Helps to present +
3. Helps to convince ½ mark for
correct
explanation
=
1x3
=
3 marks
=1+3
= 4 marks
32 - - Q. A.R. Associates Ltd. have………………..
Ans.
Keys
Employee Name = A1
HRA = B1
Basic Pay = C1
DA = D1
Gross Salary = E1
DA = If (C1 ≥ 15000, 10%, 15%) * C1
= If (C1 ≤ 14000, 15%, 10%) * C1 6 marks
Neerja DA = ₹3,000
!"
Gross = (₹30,000 +₹10,000 +₹3,000) x
!"
= ₹35,833 app.
Manan = DA = ₹1800
Gross = ₹23800
31

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9. First call amount received in advance from the shareholders before it is

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(Being Interest on drawings charged)

................................ A/c Dr. ..........

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^dZ Ho$ {bE XmZ 2,90,000

{d{dY ì`` 98,000

bm°H$a {H$am`m 32,000

àdoe ewëH$ 41,000

H«$` H$s JB© XdmB`m| Ho$ boZXma :

31.3.2019 H$mo 39,000

XdmB`m| Ho$ Amny{V©H$Vm©Am| H$mo A{J«_ :

31.3.2019 H$mo 32,000

Miscellaneous expenses 98,000

Locker rent 32,000

ny±Or : {d{dY XoZXma 2,60,000

Balance Sheet of Asha, Rina and Chahat as at 31st March, 2019

Aditi died on 1st November, 2019. It was agreed that :

XmZ 44,000 doVZ 1,00,000

MÝXm : nwñVH|$ 44,000

2019  20 5,000 66,600

àdoe ewëH$ 1,20,000

Amerf 3,10,000 \$ZuMa 2,20,000

boZXma 1,10,000 amoH$‹S> 41,000

Ashish 3,10,000 Furniture 2,20,000

amYm 4,00,000 {Zdoe 2,00,000

_mZg 3,00,000 ñQ>m°H$ 2,40,000

AZ©d 2,00,000 9,00,000 XoZXma 2,20,000

(i) ñQ>m°H$ H$mo 20% go ~‹T>m`m OmEJm &

Radha 4,00,000 Investments 2,00,000

Manas 3,00,000 Stock 2,40,000

Investment Less provision for

Creditors 2,50,000 Cash 1,50,000

Manas retired on 1st April, 2019. It was agreed that :

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23. For a company manufacturing garments, procurement of raw material,

25. Which of the following is not a tool of Financial Statements Analysis ? 1

{ddaU 2018 − 19 2017 − 18

Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb

AÝ` ì`` Cn^moJ {H$E JE _mb Cn^moJ {H$E JE _mb

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300% of cost of 200% of cost of

Cost of materials consumed < 4,00,000 < 2,00,000

(~) g§M` Ed§ Am{YŠ` 1,00,000 70,000

Hw$b 10,00,000 10,00,000

Note 31.3.2019 31.3.2018

(a) Share Capital 4,00,000 2,00,000

(b) Reserves and Surplus 1,00,000 70,000

Long-term Borrowings 3,00,000 4,30,000

Trade Payables 2,00,000 3,00,000

Tangible Assets 6,00,000 5,00,000

(a) Inventories 2,50,000 2,00,000

(b) Cash and Cash Equivalents 1,50,000 3,00,000

Total 10,00,000 10,00,000

(A) A§e ny±Or 19,00,000 11,00,000

XrK©H$mbrZ CYma 2 1,00,000 4,00,000

(A) AënH$mbrZ CYma 3 2,50,000 2,30,000

Note 31.3.2019 31.3.2018

ZmoQ> 31.3.2019 31.3.2018