Hat A, ‘nme ma 30(NS) tt oy, SECTION ce “3 Answor any fve questions Each question caries 2marks: (5*2= 10) 11) Whats not or profit crganisaton? 12) Sate any two fetures of parnrsip, 13) Goodwil ofthe frm valued at wo years purchase of average profs of last 4 years. The toa profs fo the ast 4 years are € 80.00, Calle cr atthe +14) Ge ihe ural en for ates akon over by a pater on dissolution of fem (8154 15) Menton any two features of company. 46) White any wo limitation of Financial Statements. 17) Uslany two toos of Financial Statement Analysis. 48) What do you mean by investing actos? ‘SECTION-¢ four questions. Each question cares 6 marks: (4 8=24) are partners, started business on 1.42017. They share equal. They invested capital € 2,00,000 and iy. For the year ended 3182018, they eared a“Trade payable increased by ¢ 10,000 during the year. Cuistanding expenses increased by «100 curing the year. (Otter expenses includes depreciation ¢ 20,000. Compute Net cash flow fom operations for the year ended '31.9.2017 by ndiret metno, SECTION-D 4 ‘Answer any four questions. Each question caries 12marks: (4x 12=48) 25) Thefalowing i the Balance Shet and Recaps and payments account of Karawait Sports cub, Karwar Balance Sheet as on 142017 abies ‘ “Assets x Ouistanding Salary $5,000Cash at bank 15,000 Capital fund 164,000 Outstanding subserpion 2,000, ‘Sports materia FuturePy etc fares eee 3 : oe 28) Vinay, Vaibhav and Naveen are parners in a fm, sharing losses in the ratio of 32:1 respectively. Their Balance ‘313.2018 was as under Balance Sheet as on 31.3.2018 abies Assets Creditors: 40,000 Gash at bank Bills payable 10,000. Debtors Naveer'sioan 12,000 Stock General Reserve 6,000 Fumiture Capital: ‘Machinery Vinay 180,000 Building alhay 60,000 Naveen 40,000 2,48,000 “The frm was dissolved on the above date, The assets a) Debtors realised 10% less than book value, stock than book value, Buling realised + 60,000 ) Creditors and Bils payable were paid in fullParticulars “To Opening stock ‘To Purchases “To Gross prott To Inorost To Seling expenses To Net profitz 2,00,000 4,00,000 . 1,00,000 50,000 60,000 a 50,000 Bills Receivable Bare bank fairs se pee . 6,40,000 6,40,000 sae a ary Calculate : : a) - Inventory turnover ratio b) Trade receivable turnover ratio c) Trade payable turnover ratio d) Gross profit ratio e) Net profit ratio f) Operating ratio. | SECTION -E } (Practical Oriented Questions) __ Answer any two questions. Each question carries 5 marks : (2x 5=1 | 33) How do you treat the following in the absence of partnership deed? } a) Sharing of profit b) Interest on capital _¢) Interest on drawing * d) Interest on advances from partners ) Remuneration to partners for firms work 34) Write the Pro-forma of Balance Sheet of a company with main heads onl 35) Write the Pro-f 5 Method, oma of cash flows from Operating activities under Dire mene SeState any two causes of Depreciation. What is Partnership Deed?’ ‘ 3) . What is Goodwill? Oe 4) Write the journal entry to close Revaluation account when there is profit. J 5) Whatis Realisation account? — oy ., 8) What do you mean by Issue of shares at premium? < 7) Give the meaning of Interim Dividend. 8) List out any two techniques of Financial statement analysis. 9) Give any two examples of Non-profit organisation. 10) Mention any two types of information. SECTION -B Answer any four questions. Each question carries 5 marks : (4x5 = 20) 11) Shiva and Shankar are partners in a firm. Shiva’s drawings for the year 2016-17 are given as under. : + 5,000 on 01-05-2016 7,000 on 31-08-2016 = 3,000 on 31-12-2016 «4,000 on 01-02-2017 Calculate interest on drawings at 12% p.a. for the year ending 31-03-2017 under product method. ru are partners in a firm sharing profits and Ankit retires from the firm, Suchit and Chandru Ankit, Suchit and Chand losses in the ratio of 4: € agreed to share in the ratio of 9:3 in future. 12 Calculate gain ratio of Suchit and Chandru.30 (NS) : tua 13) Raj 14) 12 ja, Rani and Mantri are Partners sharing profits and losses, in the Of 2:2:1. The Balance Sheet of the firm as on 31.03.2017 Was Balance Sheet as on 31.03.2017 Liabilities i t Assets z Creditors 40,000 Cash 20,000 Bills payable 20,000: Stock 40,000 Capitals : Debtors 90,000 Raja 1,00,000 Buildings 1,00,000 Rani 60,000 Plant and Machinery 10,000 Mantri 40,000 : 2,60,000 2,60,000 Raja died on 31 12.2017. His executors are entitled to the followings : a) His capital on the date of his death. b) His share of profit till the date of his death. Estimated profit for the Current year is ¢ 80,000. c) Interest on Capital is allowed at 10% p.a. d) ~~ His drawings till death amounted to = 20,000. €) Salary of Raja is « 1,000 per month. Prepare Raja's capital account. Jagadeesh Co. Ltd. issued 10,000 12% debentures for = 10 each at z premium of ¢ 2 payable as follows : = 2 on application. = 5 on allotment (including Premium) and balance on first and final call. All the debentures were subscribed and money duly received. Pass journal entries upto the stage of allotment money received. Calculate current ratio and quick ratio from the following information. Stock = 1,00,000 Debtors = 80,000 Bills receivables = 20,000 Advance Tax z 8,000 Cash = 60,000 Creditors = 1,20,000 Bills payable = 80,000 Bank overdraft z 8,000Cash at bank . 4500 ¥ Explain the five qualities of information, SECTION -c Answer any four Questions. Each question carries 14 marks: (4x 14 = 56) 18) On 01.04.2014 Umesh Purchased ‘A’ Machinery for < 1,20,000: On 01.07.2014 ‘B’ Machinery purchased for < 80,000. On 31.12.2015 ‘A’ Machine was sold for x 84,000 and on 01.04.2016 ‘C’ Machine was purchased for x 60,000 Depreciation was charged at 10% p.a. under ~ fixed installment method. The accounts are closed on 31% March every year. Show Machinery account and Depreciation account for 3 years ending 31.03.2017. 19) Sujata and Sanjota are partners sharing profits and losses in the ratio of 32. Their Balance Sheet as on 31.03.2016 was as follows. Balance Sheet as on 31.3.2016 Liabilities z Assets. : t Creditors 1,00,000 Cash _ . 40,000 Bills Payable 50,000 Stock _ ~~ 50,000Parnes cpt Account — 4) Bank Account. {Zon appleaion £ Son lamer (ec emis) CLonfistealans © 3on Final call ‘Al the shares were subscribed call on 500 shares. The directors: as fully paid up al * 7 per sere, Be heRecep and Pamert acne yr ning 31.21 "Receipts | ToBalance bid oF 2080 By Aust oes To Suoscipions 20500 8y Rent Mest 2500 8yMaps and CharsAnswer any two questions. Each question carries 5 marks : iptions ¢ 2,000 and Me ions receir : a fu , subscri advance & 1,500. ‘Outstanding interest on Govt. Bonds ¢ 700 Prepare : I i) Income and Expenditure Account and ii) Balance sheet as on 31.03.2017. SECTION -D (PRACTICAL ORIENTED QUESTIONS) (2x5=14 25) How do you treat the followings in the absence of partnership deed? -a) 26) 27) b) c) qd) e) Interest on Capital Interest on Drawings Interest on Partner's Loan Distribution of profits or losses Salary to partners. Prepare Executor's Loan Account with imaginary figures showing tl repayment of loan in two annual equal installments along with interest. Classify the followings into capital and Revenue items. a) b) c) qd) e) Honorarium paid Installation charges of new machinery Subscription to news papers Cost of purchases of new machinery Donation received for Building.9) Give one example for current liability. 40) Expand ICAI. 15. minutes extra has teen n alloted ‘er candidates read the questions. 4. Figures in the right hand margin indicate full marks. SECTION oR ‘Answer any eight questions. Each question carries 1 mark : (8x1=8) 1) Government grant is treated as : receipt. - 2) When the partners current accounts are prepared in partnership firm? 3) If the amount brought by a new partner is more than his share in capital, ; the excess is known as —————_——_ : 4 4) Give the formula for calculation of new profit sharing ratio on retirement of _ apartner. 5) What is buy-back of shares? 6) Debentures cannot be redeemed out of: a) profits b) provisions c) capital d) all the above 7) Financial statements generally include. a) comparative statement b) _ fund flow statement c) income statement and balance sheet d) none of the above 8) Financial analysis is used only by the creditors. State True / False. sila een cannere! see elefe, hig ots an ses "og soon oe te 2) Hercapal en be dat oat Blanco 1) Heranae rte id on dt 0} Her share of prot up to the date’ of death, on Yours ro Promos yea polis 20000. ) He share of goad Goo ofthe fem is valved at ) ltrs on capita at 10% pa ns ‘ou are requce to ascertain amount payable exe pop Ra's capa arco. Ganesh co, ts, purchased assets ofthe book value of € ‘another fm, Iwas agreed that purchase consideration ‘soung 11% deberiures of € 100 each. Assume debenttes| issued. sa a) Atpar 1b) At iscount of 10% and ) Ata premium of 10% Record necessary Joural ens,2) Given sn ea et Caryng on patneshp bushes items depen wrest . Bil payable © 10,900. Cashin hand Sundry credtors 59000 CashatBank ‘Oustaning expenses Coptals31) From the ftoning ifomat ends eomgany Lid, Share capa General esone ‘Secured ansv Revenue from operations . —_10,00,000 Gross profit. . 2,00,000 Average inventory 1,00,000 Pe Net credit revenue from operations _6,00,000 ae Average trade receivables 1,50,000 Net credit purchases 5,00,000 a Average Trade payables 2,50,000 Operating expenses E 1,00,000. sy Net profit 1,00,000 SECTION -E (PRACTICAL ORIENTED QUESTIONS) Answer any two questions. Each question carries 5 marks : (2x 5= 10) $3) Write two partners capital accounts under fluctuating capital syster with 5 imaginary figures. 34) Prepare Executor’s loan account with imaginary figures showing the repayment in two annual equal installments along with interest, 35) Name the major heads under which the following items will be presented , in the Balance sheet of a company a) Share capital b) Debentures c) — Trade payables d) Furniture e) Inventory.(English Version) * SECTION-A . Answer any seven questions, each question carries two marks : (7«2=14) 4) State any two types of reserves. 2) What is meant by fixed capital system ? 3) When do you prepare Revaluation A/c ? 4) Write any two circumstances for retirement of a partner. 5) Give the Journal Entry for the asset taken over by a partner in case of dissolution of partnership firm. 6) When can shares be forfeited ? 7) Give the meaning of “preliminary expenses”. 8) What do you mean by Ratio Analysis ? 9) How do you treat tournament expenses when separate tournament fund is maintained ? 10) Mention any two models of Database management system. SECTION -B Il, Answer any four questions, each question carries five marks : (4x5=20) 11) Anju and Manju were partners sharing profits and losses equally. Anju withdrew & 2,000 quarterly at the end of each quarter, for the year ending 31 March, 2017. Interest is chargeable on partners drawing at 10% p.a. Calculate the interest on Anju’s drawing for the year ending 31-3-2017 under Average Period Method. 12) Mohan and Mohammad are partners sharing profits and losses in the ratio of 5:3. They admit Mikel into the partnership. The new profit sharing ratio is3:2:1. Calculate the Sacrifice ratio of Mohan and Mohammad. | t \ et $I ar "° gi EH ' i ' | t '44000 Casha +5000 ils recetable 10000. Debiars Stock 9000 Fumiure 000, Buling 15000. Moir bie : +100,000 tsa Soon s052017. er exer eid 1 get eee 4) Hercapal long wih er share in eserve Fund. 1b) econ salary of 00 6) Her share of godmil-The good of the fm was valu at € 20,000, 4) Her share pratt for he eure yearup tone re ee" year up tte date of deaths valued re Arta’sExautrs Account. {85 Starth Company Ld. issued 1000, 8% Debantres of 100 ea am 01 100 each The 200n appicaton 80 onaleinent 00m fat andl cal ‘Alte debenares were subsorbod an the money dy receve, ass Journal Enties upto th siageof st and al call money du. 15) From he folowing itormatio, prepa 2 lepare comparative stant of Proft / {24 Los fr he year ending 3-8-2016 and 318-2017 of Flam Company | Income Statement - hee 319208 3192017 evr tomcat 00.000 7.50000 incomes 2c00 15,000 Expenses 505000 440 oe 5 440,000 Cer oat 7 008) 46) From the folowing priovare of Sharada Publ vay excel cpa) fund forthe year beginning 1-4-2016: . le particulars a (1S eed for expanses ear pots yy Fumie (rs subsortons Rent ecehables Sala payable cash attank ‘7 Exlan any 5 avatages of database management Sse SECTION-C ‘i. Answer any four guesions Each question stam ap esi a 18 Fenn heey wa wren Oo at atuoe ae amputee 25000 arses oe 24008 pane sectslr 00 roe atanoa wep a 8 ries fourteen marks and loss rose, 5 ore Balance Shoot son 31-2207 Was fll omen estan 3122017 cane Lats crete anor can fname ean oa Se cee eee MecSesser eae oe e ’ . 1.00000 By Sales 10100,900 ‘500000 8 Cosing stock 150,000 5,000 300000 10.000 1150000 180000 By Goss pola 5.00000 121900 ‘00 ‘20000 — $,00,000900.9. " & es a i iditure A/c for the year ending 31-3-2017, i ') Balance Sheet as on 31.0:01y SECTION-pD : (Practical Oriented Questions) Wv. Answer any two questions, Each question Carries five marks. 25) Prepare Profit and loss ppropriation A/c of a firm with five imaginary figures. 28) Write the Proforma of vertical balance sheet of a joint stock company with appropriate heads, (2x5= 27) Prepare the tree diagram of hierarchical database model a eit r thMention any two rules to be followed in te abe of Par What is Revaluation Account 9 Ge the Journal entry for the asset taken over by partner in case of dissolution of 5: What do you mean by Issue of shares at par ? Give an example. 6. Under what heading do you show the following in Company Balance Sheet ? a) Loans to Employees b) Proposed Dividend. 7. What is Depreciation ? 8. What are non-trading concerns ? Give an example. 9. Mention two features of Computerised Accounting, 10. What is Data Processing ? *K SECTION - B Answer any three of the following questions. Each question carries six marks. 3x6=18 11. Suraj, a partner in a firm. has withdrawn the following amounts during the year ended on 31. 12.'2013 : Rs. 6,000 on 31. 3. 2013 Rs. 10,000 on 1. 7. 2013 Rs. 4,000 on 31. 10. 2013 Rs, 1,000 on 31. 12. 2013 Calculate interest on drawings al 6% per annum under Product method. Ua <0 Y Upageo of'i6 i Q 490 a omagoney als 2B Sdober aWile Ba Des R250 and rae an ers ‘ulstanding Salary RS 1,000 and Commission dueAas A usanng saerpons fr 208 000, 1 utmost 1, 12018 Re 4500, TT (zens)on Bl. 12. 2013. SECTION - D ce ( PRACTICAL ORIENTED QUESTIONS ) “answer any two of the following. Each question carries five pening capital with five i marks. ax5=1 22, Prepare a statement of affairs to find out 0} imaginar figures. : aginary ry Account for two years with im: figures unde 23. Prepare a Machine Diminishing Balance Method of depreciation. 24. Classify the following into Capital and Revenue * a) Legacies b) Purchase of Computer ©) Subscriptions @) Life Membership Fees ) _ Printing and Stationery. | Page 16 fm 11) Whatis Reserves? : 2) What is Profit and Loss appropriation acco 3) _ State any two methods of valuing goodwill. 4) Write the journal entry to close the deceased ee partner capital account. “of partnership and 5) State any two differences between dissolution dissolution of partnership firm. — : What is authorised capital? 7) Whats Dividend Distribution Tax? ¥ 5 8) State any two techniques of financial statement analysis. 9) Give any two examples of non-profit organisations. 10) Mention any two models of database management system. SECTION-B Answer any four questions. Each question carries 5 marks : (4x 5= 20) 41) Radha and Rani are partners in a firm. Radha’s drawings for the year 2015-16 are given as under : t = 5,000 on 01-04-2015 = 8,000 on 30-06-2015 © 3,000 on 01-12-2015 = 2,000 on 31-03-2016 Calculate interest on Radha’s drawings at 10% p.a. for the year ending 31-3-2016 under product method.By Investments By Balance C/d 4,76,000 Adjustments : Ee @) OMS salaries ¢ 2,000. : 5) . Donations and Entrance fees are capitalised. ©) Sports materials on 31-3-2016 were valued at © 8,500. d) Depreciate Buildings and Furniture by 10% ©) O/S subscription © 5,000 and subscription received in. advane = 3,000. 5 : Prepare : i) Income and Expenditure A/c and ji) Balance sheet. i SECTION -D (PRACTICAL ORIENTED QUESTIONS) Answer any two questions. Each question carries 5 marks : (2x 5=10) 2) Prepare a Machinery account for two years with imaginary figures under fixed installment method. 26) Prepare current account of two partners under fixed capital system with five imaginary figures. 27) Prepare the comparative Income statement (Comparative Statement o Profit and Loss) for two year with five imaginary figures. :Unvte,taking 31-3201 Yer Sees aoe 2013 zor 215 2016AG my : ar ending 1-3-2016 Receipts & Payments Alctor the ye te Recalys rs. Payee qs To Balance b/d, 1,400 By Ea 2800 ¢ ” Subscription 12,000 ” Print! a enses 5 ” Entrance fees 2000 * oes SP 9.9.2018) Tm ” Sale of oldnewspapers 1,000 Coe an , ” Sundry Receipts 600 i ence oid 2,600 Donations 4,000 21,000 Total 21,000 Total Adjustments : 500 1) Outstanding rent 31-3-2016 was Rs. 900- 400. 2) Subscription receivables for the year 2015-201 ee was Rs. 800. 3) Subscriptions received in advance forthe year 2016 — <- ‘4 d donations are to be capitalised. y ‘Answer any two questions. Each que: 25. 26. 27. # 4) Half of the entrance fees an 5) Depreciate books at 10% an Prepare: 1) Income and Expenditure ‘A/c forthe year ending 31 -3-2016. 2) Balance Sheet. id Furniture at 5%. SECTION-D (Practical Oriented Questions) | stion carries five marks. (2x5=10) How do you treat the following in the absence of partnership deed ? 1) Interest on capital 2) Interest on drawings 3) Interest on advanced loan 4) Distribution of profit or losses 5) Salary to a partner. Write the proforma of Vertical Balance Sher i i appropriate heads. cag uenistock Companyasay Classify the following into Capital and Revenue Items : 1) ‘X’-Ray Machine purchased by an hospital. : 2) Life membership fees. 3) Sale of machinery. 4) Subscription received from members. 5) Amount spent for up keep of ground.Wt aya oct A13 Code No. 30 (N/S) "21. Akash Co. Ltd. issued 40000 equity shares of Rs, 10 each at a premium of Rs. 2 per share to the public, payable as follows : . | Rs. 3 on application _ . | Rs. 4 on allotment ( including premium ) Rs. 3 on first call Rs. 2 on final call All the shares subscribed and the money duly received except the final call on 800 shares. The directors forfeited these shares and re-issued them as fully paid | up at Rs. 7 per share. ok Pass the necessary Journal entries related to the above information. ss go. NobAS, aatcd do, 10d awweeo 40000 TVs; (32843) Secoriviay, BRe FOr do. 2 dos Sedobor maeaason deans awad. ado weosiay = #¥dodos mas aAe AnsAd : dn. 3 EE Bro Bo. 4 Bors wea (&es0b0 Ac0) Gn. 3 Spas 80 are | Ga. 2 Bose 36 GL H ae secoivay, svTts smedeoncy, “vodad B8obQ 800 sewoniv aro 1 Fomohennd vada; Ade essCd awoipete Hosdoom, 3c Seon do. 7 dos i ado Aabrid anangs. eds Swdsrt AowoHacios ese,DbS Gores GoDsrvay wdcdoo, | AM-130 [Tum overai) Subscription outstanding Rs, 5,000. ii). Subscription received in advance Rs. 5,000. iii) Salary prepaid Rs. 2,500, iv) Capitalise 50% of entrance fees and 100% of donations. v) Depreciate Building by 10% p.a, Prepare: To Entrance fees 8,000 | By Printing nee To Donations 12,000 | By Salary 25,000 To Interest 5,000 | By Purchase of Books 10,000 By Bank loan paid 5,000 By Subscription to Newspapers 600 By Balance ¢/d 26,800 Total 90,000 Total 90,000 Adjustments : a) _Tncelne.ar Expenditure A/c for the year ending on 31, 03.2015, . b) Balance Sheet as on 31, 03. 2015, AM-130\ \ Computer purchased by a college. b) Life membership fees. ©) Sale of machinery. 4) Subscription received from members. e) Amount spent for upkeep of ground. SE a SeNSaYay, RWowEIyY ads) FomsobaN NonBs’ : a) nom sadern Nrevobos.say DOeBACy. b) wes Ads airs. ©) cboderatsoreniay, Smonts aan). a) ABA,Pors 2005 SoSH. ¢) aymmacs Adeaim ates, AM-130pees esaceer tv eet making the above adustmonts wast 24,100, \Acforine year ending 3-3-2014, 17, Explain the stages of data provestng oye, cena{Ser share payed aa Ein “Son Alomentncludng premium) oonrimcan “oon naa26, Folowng the Balance Sheet and Receipts and Payments Account Eucaton Society. Lapities Os Salaries ‘lang Fura Capital FundSale ofold Newspape * Books Bought (1-4-2019) on 7 " Newspaper Subscription 500 ” Refreshment Expenses 600 i ” E-mail charges _ 200 ” Bal. o/d 18,700 4 51,000 51,000 Adjustments : a) O/S subscription for 31-3-2014% 5,000. b) O/S Salary for 31-3-2014% 600. c) Half of the Entrance fee is to be capitalised. d) Depreciate Furniture at 10% and Books at 30%. } Prepare : , i) Income and Expenditure A/c for the year ending 31-3-2014 , ii) Balance Sheet. SECTION-D ( ‘ (Practical Oriented Questions) Answerany two questions, each question carries five marks. (2x5=10) a) Interest on capital b) Interest on drawings c) Interest on loan d) Distribution of profit or losses 1] e) Salary to partner. 4 ) 25. How do you treat the following in the absence of partnership deed ? 26. Write the pro-forma of Vertical Balance Sheet of the Joint Stock Company with appropriate heads. 27. Prepare the tree diagram of hierarchical data base model.