Model Test Paper

Hours
Maximum Marke
Time Allowed: 3

General Instructions:
As per Model Test Paper1

PartA
Firms and Companies)
(Accounting for Partnership
in profit-sharing ratio of
existing
a

revaluation at the time of change

1. Gain/loss on
of
partners is shared
b y ) w h e r e a s in
case of admission a
it is sharet
partner it is

by i)
(a) (i) remaining partners, (ii) all partners.
(6) () all partners, (i) old partners. 25ured0o
( ) ) new partner, (ti) all partners.
shExODIotoo
echS 00110 000
(d) () sacrificing partner, (i) incoming partner.
2. Given below are two statements, one labelled as Assertion (A) and the other labelled

as Reason (R):

Assertion (A): Transfer to reserves is shown in Profit & Loss Appropriation Account
Reason (R): Reserves are charge against the profits.
In the contextof above two statements, which of the following is correct?
(a) Assertion (A) is correct but Reason (R) is wrong.
(b) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the corret
explanation of Assertion (A).
() Both Assertion (A) and Reason (R) are incorrect.
(d) Both Assertion (A) and Reason
(R) are correct, and
explanation Assertion (A).
of Reason (R) is the correr
3. BILT Ltd. issued for
subecription 2,00,000 shares
2 per share payable ? of T 10 each at a
7(including premium) on premium
Applications were received for 6,00,000 shares. application and balance on allotmen
reiected and pro rala allotment was made to
Applications 3,00,000
for shares were
The due amount wass duly received. remaining applicants.
Amount received on ALO
(a) T3,00,000. allotment will be
(6) T4,00,000.
(c) 5,00,000. si
(d) 6,00,000.
e lT s tP a p e r s
M.165
Or
to
intends to issue 40,000, 6% Debentures of 7 100 each at par. It may receive
S u nL t d .
as
price
issue
the
Application and Money.
Allotment

plication nd Allotment Money, separately.

Application Mone Allotment Money and First and Final Call.
(a) Allotment Money.

Options:
Gde of
(6) Only (i)o
(a) Only ()
oeden)
and (iüi) () Only (iv)
Only (), ti)
dmani and Harsha are partners in a firm sharing profits and losses in the ratio of
a9. They admit Charu as a partner for 1/5th share. The Journal entry passed for
Charu's share of goodwill credited to sacrificing partners is:
Particulars LF Dr. C.
Premium for Goodwill A/c Dr. 3,000
Charu'sCurrent A/c 2,000
To Himani's Capital A/c 2,000
To Harsha's Capital A/c 3,000

(Share of goodwillof Charu adjusted)

Charu will be
New profit-sharing ratio of Himani, Harsha and
(a) 12:8:5. (6) 2:2:1.
(d) 9:6:4.
(c) 13:7:5.0
Paresh and Prabhav
5. At the time of admission of Vasu as a partner, old partners
doubtful debts 7 20,000 in their
had debtors of 6,20,000 and provision for debtors
assets were revalued and thus
books. As per the terms of admission, reflects
written off. Which Journal entry
5,000 had turned bad and hence were to be
the correct accounting treatment of the above?

(a) Bad Debts A/c

..Dr. 15,000n
15,000
To Sundry Debtors Alc
i15,000
Provision for Doubtful Debts A/cao Dr
T15,000
To Bad Debts Alc
Dr. 15,000
(6) Bad Debts A/c
15,000
Sundry Debtors Alcgtrsbr
To
15,000
.Dr.
Revaluation AJc 15,000
To Provision for Doubtful Debts AWc
..Dr. 15,000
)Revaluation A/c 715,000
To Sundry Debtors AlcwB
(d) Bad Debts A/c ..Dr. 15,000
g e J n v a 1 5 , 0 0 0

To Revaluation Alc
 An Aid to
Accountancy-CR
est

M.166 X
ofR 100 each at a discount o f 5 o .
50,000, 7%6 Debentures
Simi

6. A company
issued for 60,000 debredee ratio
of 106. It received applications
after 5 years at premium Which
50 per debenture. of
of the s
the following.
following
with the application
money of Journal epnt
is c o r r e c t in
context of the
above? try Ater

that
Dr.
3 30,00,000
(a) Debentures Application A/c M
30,00,0
acco

To Bank Alc
The
(Application Money received)
..Dr. 7 30,00,000 a

(6) Bank Alc

To Debentures Application A/c
(Application Money received)
30,00,00 6)

(C)

() Bank Ac
.Dr. 30,00,000 (a)

g
To Debentures Application Alc
g rdm 25,00,0 Res

To Debentures Allotment A/c

application money
5,00,000 Am-
(Application Money received, excess

transferred to Debentures Allotment) Atu

(d)Debentures Application A/c .Dr. 7 25,00,000 be
Debentures Allotment A/c .Dr. 5,00,00o ThE
To Bank Ac T 30,00,000 Ba
Amount received towards application money aisto32udeii of
and allotment money)
Or
Following Journal entries are passed in the books of Bharti Ltd. on issue of debentures: P

Bank Alc .Dr. T7,50,000

To Debentures Application A/e o goraairoba 3o shi7,50,000
(Application Money received being 50% of the 009/0813 oe0dah bea 9. Va
Issue Price, ie, t 50 per debenture)
bnd Bemuas bod 00081 (
Debentures Application Ale .Dr. 7,50,000 s
Loss on Issue of Debentures A/c .Dr. T 1,00,000ba 10. A
To 8% Debentures AVc purdsd hnnd ot
75,00,000
ion
of Debentures
Debentures vA/eded
arot auiai
To Premium on Redemption of g 1,00,000
To Debentures Allotment Ale BAd b1 2,50,000
(8% Debentures issued)
Based on the above Journal entries, identify the amount per debenture at which the 11. F
debentures shall be redeemed.
(a) 100
(c)120 (d) 110 oalav 9
7. Which of the following can be used for writing off Discount
Debentures?
or Loss on Issue of
(a) Revaluation Reserve (b) Debenture
(c) Capital Reserve
Redemption Reserve
(d) Statement of Profit &
Loss
Msded Papersk siA
1u,
Manu, and Beena are M.167
imo2: 1. The balances
partners in a firm
ratioof2. of their sharing profits and losses in the
fixed
1,00,000, Manu
1,00,000 and Beenacapital accounts on 1st
April, 2021 were:
SimiT1

the accounts ffor the

year ended 31st
80,000.
Atrest on capital @ 10% per annum March, 2022 were
tnnts even though it was not provided inhad been credited prepared,
accour to the
it was noticed
partners' current
L
the
The
in Simi
error
pital Account/Current partnership deed.
be rectified Account will
Debiting her Capital Account with7 1,200. by
A Crediting her Current Account with 1,200.
Debiting her Current Account with 1,200.
Crediting her Capital Account with 7 1,200.sdno
Read the following hypothetical situation [1
and answer Q. 9 and
Amol and Ameet are partners sharing profits and Q. 10
losses in the ratio of
Atul for 1/4th share. For the purpose of admission of 2:1. They admit
be valued
Atul, Goodwill of the firm
on the basis of 2
years purchase of Average Super Profit of last four is to
The normal rate of return în their business is 12% on years.
capital employed.
Balance Sheet of the firm gives following details:

Fixed Assets-2,10,000
Current Assets- 1,40,000 () nvano
.Current Liabilities- 35,000.
o
91 bns (oiok bo
A poigee 1 nole
Profits of last 4 years ending on 31st March, are:

2019() 2020 ) 2021 )

2022 (
1,10,000 1,00,000 98,000 1,24,000
9. Value of goodwill of the firm on Atul's admission was

(a) 70,200. LSp ioss 3o lbbim sdi(6) R 1,05,200. i iw

) T1,40,400. (c)1,08,000.
0. Atul brings 60% of his share of goodwill. The account to be debited to record his

compensation will be
(a) Premium for Goodwill Alc 21,060. 6) Atul's Current Alc 14,040.
)Both (a) and (b).0t olodek () Premium for Goodwill AcR35,100.
slhbin 9ils at roq O00S

Arrange the following steps in their ascending order in the context ofreconstitution
of partnership:

) Preparation of Partners' Capital Accounts.

) Preparation of Balance Sheet of the reconstituted firm.
4 Revaluation of Assets and Reassessment of Liabilities. ea
(0)
Preparation of Bank Account.
0% (ii, (i); (Gio).cituit ae (6) (i;(i); (iv: ().
)v); (üi); 0: G).
 An Aid to
M.168
Accountancy-c
10% Preferences N
12. Classic Ltd.
had invited
applications for 1,00,000,
30 along with
Shares of 100
90.1 including premiun
application, 790,
payable
at a premium ofR50
balance on first and final call. Applicationg8
and
on allotment
2,40,000 shares. Applications for 40,006
to whom 2,500 shares
shares were refused allotment
were allotted did
receiaved f
refunded. Ramesh not
pay t nount
allotmen
was

money and call money. His shares were forfeited On forfeiture, which of the
accounts will be debited?
Account
fol owing
(a) Shares Forfeited
(6) Share Capital Account
(c) Securities Premium Account
(d) Share Capital Account and Securities Premium Account
13. Assertion (A): Raj Ltd. took running business of Delhi Printers
over
consideration of 13,00,000 to be settled
by issue of 9% Debentures of for a
115 per debenture. It issued 100 eac
11,304 Debentures and paid 40 in each at
Reason(R: Debentures are not issued in fractions cash/by chea
que.
in cash/by cheque. and therefore, F 40 had to be Daid
id
In the context
of above two statements, which
(a) Assertion (A) is correct
of the following is correct?
but Reason (R) is
6) Both Assertion (A) and
Reason wrong.0098
explanation of Assertion (A). (R) are correct, but Reason (R) is not the
Both Assertion (A) and G correct
Reason (R) are incorrect,
(d) Both Assertion
(A) and Reason (R) are ao nl
explanation of Assertion (A). correct, and Reason
(R) is the correct
14. What will be the
interest on drawings of
2022, if he withdrew Raj @10% p.a. for the
(a) 5,400.
36,000 during the middle of each year ended 31st March,
quarter? 008.019 (
(c)9,000. (6) 7,200.
(d)14,400, id lesA 0
Calculate the Or od w oithanoga

31st March, interest on drawings of Ashok

2022, if he withdrew
(o) 7,800. 10% p.a.
12,000 p.m. in the
for the
middle of year ended
()14,400. (6) 76,600. every month.
15. At the
time of (d)7,200,
any dissolution of
(a) Market Value,
partnership
liability, then it is assumed
the.
firm if
nothing is given
of the about
liability is
(6) Book Value settlement of
(c) Book
Value or
paid.en
(d) Book Market Value,
Value or Market Value, whichever is higher.
whichever is less. ubtiiiRt
T e s ta p e r s

M.169
6 t h e incomin
ming partner is to bring his share of
in Goodwill Account (i.e., existing goodwill in cash and there exists a
balan
old partners in.
goodwill), Goodwill Account is written off
a m o n g

rofit-sharing Ratio. (6) Old Profit-sharing Ratio.

Capital Ratio. (c) Sacrificing Ratio.
(1
Hina and Dolly are partners in a
Hina
Farhan,
Laan. firm sharing profits in the ratio of
5:3-2.
: 2 On
1st April, 2022, capitals of the partners were: 5,00,000;7 3,00,000 and
00 000 respectively. The firm closes its books on 31st March, every year. Dolly died
2.00
2022.
on
5th April,
On that date:

Goodwill ofthe firm was valued at 7 30,000; and

Dolly's share of profit til the date of her death was calculated at 7 200..
Deenare Dolly's Capital Account to be rendered to her executors. Pass the necessary

Journal entry for the

treatment of goodwill. 13
in a firm sharing profits in the ratio of 7: 5. Their
18, Ravi and Mohan were partners
and Mohan 7,00,000. The partnership
respective fixed capitals were Ravi 10,00,000
deed provided for the following:

) Interest on capital@ 12% p.a.ol e

6,000 per month and
Mohan's salary 60,000 per year.
(in) Ravi's salary distributed
2022 was 5,04,000 which
was
Profit for the year ended 31st March,
Pass an adjustment entry.
equally, without providing for the above.

Or
capitals 3,00,000 and
are
firm. Their fixed
Ravi and Rishab are partners in a
1/4th share in the
admitted Pawan as a partner for
4,00,000 respectively. They a guarantee
deed, Pawan was given
conditions of partnership
profits. According to the will be borne by
Ravi
amount to Pawan
guaranteed
of profit of 50,000. Deficit in the 1,60,000 for the year
ended
earned profit of
and Rishab in the ratio of 3: 2. The firm
31st March, 2022. working. (3
Account' and show your
Appropriation
repare the Profit & Loss interest
State Bank of
India @ 10% p.a.
T 10,00,000 from
Smart Limited took loan of Collateral Security.
200 each as
Debentures of 7
and issued R 15,00,000, 10%
transactions:
the above
Journal entries for
ass necessary D e b e n t u r e s as
Collateral
issue of 10%
record the
when company
decides not to
Collateral
D e b e n t u r e s as
Security. issue of 10%
to record the
decides
company
wnen
Security.
 nccountancy
M.170
Or
ntancy-CBSE X
Ltd. purchased assets of? Ro

On Ist April,
2021, Asola Bird Sanctuary
1,80,000 of Bharatpur
Sanctuary Ltd. at an agreed
ed ,60,000 and toxh
liabilities of
Debentures of ? 100 each at 5% discoun considera
redeemable a
over
10%
It issued
of 7,60,000.
5 in satistactionofthe purchnse consideration.
par after years,

It issued 5,000,
12% Debentures of able after
100 ench at par, redeemable aft.
3
5% premium.
years at
1,20,000 in its Securities Premium Account.
The Company had
Pass Journal entries in the books of Asola Bird Sanctuary Ltd. for the.
the year endej
31st March, 2022.

20. Harish and Meeta are partners in a firm sharing profits in the ratio of 3..
f 3:2. Their
Balance Sheet as on 31st March, 2022 was as follows:
Liabilities Assets
Harish's Capital A/c 54,000 Cash
Meetas Capital Alc 36,000 Plant 1,18,000
Creditors 1.36,000 Building 36,000
2,26,000 72.000
Goodwill of the firm has been valued at
2,26,000
31stMarch, 2022. The partners decide to 36,000 and building at 90,000 on
share profits
Ist April, 2022. equally with effect from
You are
required to pass the necessary
Journal entries in the books
change in profit-sharing ratio without affecting of the firm
the existing for
21. GNS Ltd. is a
company with
figure of building.
13
5,00,000 Equity Shares authorised capital of
It had issued of 10 each. 50,00,000 divided into
50,000 Equity Shares to
paid-up capital (besides promoters in lieu of
2,00,000 Equity Shares of shares issued to promoters) of F their services. It had
premium of 5 each for25,00,000. It also issued
10 each at a
You are
required
(a) Pass the
to:
purchase of machinery.
Journal entries for the
(b) Show the
share above; and
Schedule IIl of thecapital in the Balance Sheet of the
sn'tlevisouqaen 00o.00.
22.
Sanjay and Sameer wereCompanies Act, 2013. company prepared as
per
2022, their Balance partners in a firm
Sheet was as sharing profits [41
Liabilities follows equally. On 31st March,
Creditors
Providenit Fund Assets
Investment Fluctuation Reserve B5,000 Cash at Bank
Commission Received in 12,000 Debtors
Capital A/cs: Advance 6,000 Stock 22,500
Sanjay 8,000 Investments 52,300
Sameer
80,000 Plant 36,000
Profit& Loss Account 15,000
80,000 160,000 91,200
2,71,000 54,000

2,71.000
 Test Papers hit

Onthe aove date, the firm was

ras to receive 5% dissolved. Sanjay was M.171
the expenses
es of commission
of realisa
realisation. Assets sale of asset
on
ASsets appointed to realise the assets.
tn 30,000; Stock were
realised follows: (except cash) and was to bear
as
26,000, Investments
nses
realisation
on
Espeto customer after amounted to ?
75% of
book value and Plant ?
4,100. Commission
alary deducting ? 3,000. Firm had to received in advance42,750.
retu ot Drovided for earlier.
was
liability
This was not Compensation
provided for the in
pay?
paid to employees 7,200 for
outstanding
to be paid for Provident Fund.
Balance Sheet. Aamounted
above
sum of
to ?
9,800.
nnare Realisation Account and 25,000 had
Grand Hotels Ltd. issued 10,000 Capital Accounts of partners.
.
share payable as: Equity shares of 7 10 each 4
at
premium of 3 per
a
On
Application-4;OnAllotment
balance and when required.
as 5(including premium); On First
Call-2. The
Applications were received for
to all the applicants. 12,000 shares. The
company made pro rata allotment
One shareholder who was allotted 900 shares
allotment while another shareholder who paid the total
had applied for outstanding amount with
allotment money and on his 1,200 shares, did not pay the
forfeited. Of the subsequent failure
forfeited shares, 800 were to pay the first
call his shares were
You are required to reissued at T 7 per share.
prepare:
( Shares Allotment Account,
(i) Securities Premium Reserve
Account,
(ii) Shares Forfeiture Account, and
(0) Calls-in-Arrears
Account. hus fesgaHollAlo
Or
Gold Brand Ltd.
invited applications for issuing 1,00,000 equity shares of ? 10 each
at par. The
amount was payable as follows:
On Application-3 per share; On Allotment-74
Call-3 per share. The issue per share; and On First and Final
was subscribed
three
Applications for 20% shares were refused allotment times.
and the money was
Allotment was made to the refunded.L
remaining applicants as follows:
Category No. of Shares Applied No. of Shares Allotted
1,60,000 80,000
II t i lrard
80,000 20,000
XCeSs money received with applications was adjusted towards sums due on allotment
and first and final call. All calls were
b y a shareholder belonging to Category mad Iand were duly received except the final
who applied for 320 shares. His shares
were forfeited.

Jouroeited shares were rcissued at 15 per share fully paid-up. Pass necessary
n a l entries for the above transactions in the bopks of Gold Brand Ltd. Open Calls
Arears and Calls-in-Advance Account wherever required.
I61
 An Aid to
Accounta
M.172
Shyam
were
partners in a firm sharing profits and

hare in
for 1/3rd shar the
ancy-CBSEX
losses in the
24. Ram
and
Vijay as a new partner profit. Vjay
They admittedas The Balance Sheet of Ram and Shyam on
lstWas t
5:3.
his capital.
20,000
contribute

of Shyam s admission
was as follows:
Apri
2022 the date
Assets
Liabilities
27,000 Building
Creditors Machinery 25.00
Capital A/cs
50,000 Stock 3000
Ram 85,000 Debtors 15
35,000 20,000
Shyam 16,000 Less:Provision for Doubtful Debts
General Reserve 1,500 18.500
Cash at Bank

1,28,000 1283950
000
were:
Other terms agreed upon

)Goodwill of the firm was valued at T 12,000.

() Building were to be valued at ? 35,000 and Machinery at 25,000.
Gin The Provision for Doubtful Debts was found to be in excess by 400,
v) A liability for 1,000 included in sundry creditors was not likely to arise.
()The capitals ofthe partners be adjusted on the basis of Vijay's contribution ot
capital in the firm.
w) Excess orshortfall,ifany, to be transferred to Current Accounts.
Prepare Partners' Capital Accounts and the Balance Sheet of the new firm.
Or
The Balance Sheet of Alka, Harpreet and Shreya who were sharing profits and losses
in the ratio of 1/2, 1/3 and 1/6 respectively, was as follows on 1st April, 2022:
Liabilities
Sundry Credtors
Assets
18,900 Cash at Bank 25,650
Capital A/cs:
Debtors 23,200
Alka
Harpreet
40,000 Stock
22,300
25,000 Furniture 3,500
Shreya
20,000 85,000 Machinery dBEsBRi
e POS ol ano 9,750
Profit&Loss Alc
4,500 Building
24,000
1,08,400 1.08,400
Alkaretired from the business on 1st
ascertained on the revaluation of the
April, 2022 and her share in the firm was to be
assets as follows:
Stock 20,000; Furniture 7 3,000; Machinery 9,000;
be provided for doubtful debts. The Building R20,000; 7 850 was to
goodwill of the firm was valued at R 6,000.
Alka was to be paid 7
11,050 in cash on retirement and the balance in
instalments with interest at 9% two equal yearly
per annum.
Prepare Partners' Capital Accounts and Alka's Loan Account until she is
entire amount due to her. paid the
6
d T s ta p e r s

h a r a n , Suchi
and Meeta were
.chi M.173
partners in a firm sharing
2:5. On 31st March,
M 2022, the firm's Balance Sheet was asprofits in the ratio of

Assets follows:
ptalAVCS:

3,00,000 Goodwill
3,00,000
2,00,000
Land and Building
5,00.000
Machinery
5.00,000 10,00,000 Stock 1,70,000
ereral
Reserve
1,00,000 Debtors 30,000
LanfromSuchi
50,000 Cash 1,20,000

75,000 Profit&Loss Account 45,000

UTors

60,000
o6 12,25,000
12,25.000
On 12th June, 2022, Suchi died.
The Partnership Deed provided that on the death of a partner the executor of the
deceased partner is entitled to:

Balance in Capital Account.

Share in profits up to the date of death on the basis of last year's profit.
(ü His/her share in profit/loss on revaluation of assets and reassessment of liabilities
which were as follows:
(a) Land and Building was to be appreciated by 1,20,000.
(6) Machinery was to be depreciated to R 1,35,000 and stock to 25,000.
(c)A provision of 24% for bad and doubtful debts was to be created on debtors.
(iv) Net amount payable to Suchis executors was transferred to her loan account
which was to be paid later.
Executors'
Prepare Revaluation Account, Partners' Capital Accounts and Suchi's
Account. Karan and Meeta decided to continue the business keeping their capital
transferred to
balances in their new profit-sharing ratio. Any surplus or deficit to be
Current Accounts of the partners. [6
25. On 1st April, 2021, Super Furniture Store Ltd. issued R 10,00,000, 9% Debentures of
0 0 each redeemable at premium of 10% after four years.

You are required to:

2022.
necessary Journal entries for
the year ended 31st March,
Pass
6) Prepare 9% Debentures Account; andAccount. 6
Prepare Loss on Issue of Debentures
Part B
Statements)
(Analysis of Financial receivables
27. of eight months. It has account
an Operating Cycle ofll months.
apany has 60,000 have a maturity period
ing to R 1,00,000 out of which
H in the Balance Sheet
Ould this information be presented
60,00 as Non-current Assets. Assets.
40,000 as Current Assets and Non-current
(6) 3 a s Current Assets
and 7 40,000 as
00
1,00,000 as Non-current Assets.
1,00,000 as Current Assets.
 M.174 Or
are
which

Current
Assets
are
those

realised
assets

or
intended
for sale o r
consumption
in the c o n .
pany's norma
to be
expected
(a) operating cycle.
of trading. date
held
primarily
for the
purpose

12
months
from the reporting i.e.,)Balance
within
(6) realised
to be
(c) expected
Sheet date.

above. Capital Employed

Tum
the
d) All of
or
calculate Net Assets
information, 10,00,000
28. From the following
Shareholders' Funds T5,00,000
Equity Share Capital T 5,00,000
Reserves and Surplus 5,00,000
T37,50,000eontze
8% Debentures
Revenue from Operations
(b) 1.5 times.
(a) 2 times. (d) 3 times.
c) 2.5 times. Expenses ofT2,00,000 fm
and written Preliminary off
Ltd. had incurred Expenses that will be adjusted in
29. Mega Events Amount of Preliminary
Statement of Profit
& Loss.
Flow Statement will be
preparing the Cash Items under Cash
72,00,000 from Net Profit before Tax and Extraordinary
(a) Deduct and show as inflow as Extraordinary
Item under
Flow from Operating Activities
Cash Flow from Operating Activities
before Tax Extraordinaryand under Items Cash
(6) Deduct 2,00,000 from Net Profit as inflow a s Extraordinary
Item under
Flow from Operating Activities and show
Cash Flow from Financing Activities.
() Add 2,00,000 to Net Profit before Tax and Extraordinary Items under Cash Flow
Cash
from Operating Activities and show as outflow as Extraordinary Item under
Flow from Operating Activities.
d) Add 2,00,000 to Net Profit before Tax and Extraordinary Items under Cash Flow
from Operating Activities and show as outflow as Extraordinary Item under Cashn
Flow from Investing Activities.
07 ozapsr e o
Or oitro frTot gt
Compensation paid to employees on retirement is shown in the Cash Flow Statement as
(a) Extra-ordinary item under Cash Flow from Operating Activities as
outflow.
(b) Extra-ordinary item under Cash Flow from Investing Activities
as outflow.
(c) Extra-ordinary item under Cash Flow from Financing
Activities as outflow.
(d) It being an ordinary activity, adjustment will not be made.
30. Following is the extract of Balance Sheet of Fortis Health Services
ended 31st March, 2022: Ltd. for the year
Equityand Labilties
31st March, | 31st Marct
Surplus, ie., Balance in Statement of Profit &Loss 2022 2021
Loss (Premium) on l5sue of Debentures Written off from Statement of Profit & Loss 6,00,000 4,00,000
50,000
 An Aid to Accountancy-CBsp
M.176 BSE XIL
Ltd., determine:oil ai ted
34. From the following information of Abhipra
Cash Flow from Operating Activities.
(i) Cash Flow from Financing Activities.
Particulars
31st, March|31st, March
2022 () 2021
85,000
Trade Receivables
1,25,000
1,00,000
Inventories 1,50.0
Prepaid Expenses 60,000
50,000
Expenses Outstanding 45,000
35,000
Provision for Tax 75,000 50.000
Cash in Hand
Furniture (at book value)
2,50,000 3,75.000
General Reserve
6,00,000 8,00.000
10% Debentures
2,50,000 2,00,000
Goodwill
2,00,000 1,.50,0
3,00,000 3,50,000
Trade Payables
Balance of Statement of Profit &Loss 1,05,000 1,25,000
Proposed Dividend
(Cr)lpov tei anite 6,50,000 6,00.000
Share Capital 25,000 20,000
25,00,000 15,00.0
Additional Information:
During the year 2021-22:
(a) A piece of furniture costing
sold for 1,25,000. 1,50,000 (accumulated depreciation
15,000) was
(6) Tax of T 45,000 was paid.
()Interim Dividend of T20,000 was paid. wailo o
d) The company paid
15,000 as interest on debentures.
6