APER

[Maximum Mark.J: 80
. 3 f-(oU rs I
,4//01•,e •
r,flll ,ructions: . ·
questions. All questions are compu lsory•
_, 1,is paper contains 34 d
6"'". -rhis question ' . d'1vided into two parts, Part A an 8 •
1
1• 'fhis • paper 1s
quesuon for all the candidates. . .
2. Ais compulsory . . • f Financial Statements and (ii) Computensed Accounting.
part· tions i.e. (i) Ana1ys1s o • .
3. part-8 has two op f the given options as per the subJect opted.
4 tternpt only one o
~ents roust a 1 to 16 and 27 to 30 carry l mark each.
s1u5 Question Nos. 7 20 31 and 32 carry 3 marks each.
• stl·on Nos. 1 to and ,
6. oue 21 22 33 carry 4 marks each.
tion Nos. ' h
1. oues . 23 to 26 and 34 carry 6 marks eac •
8. Question Nos. h . H wever an internal choice has been provided in 7 questions of one
• o overall c mce. o , . . f . ks
15
9• There n .
k 2 questions o ree
f th marks l question of four marks and 2 questions o sax mar .
'
mar~•~~~;;;_~--------------------------------------------------

I Accounting for Pare!':. .~rms and Ca,apanies I

d c were partners sharing profits and losses in the ratio of 3 : 3 : 2. B retires from the
1• f~ :: 1st april, 2023. His capital ac~ount showe~ a cre_dit balance of t 68,?00 after all necessary
d' tment. It was decided to pay him t 8,000 lffimed1ately and balance m two equal annually
~n~::iments together with interest @ 8% p.a. Total amount to be paid in 2nd instalment will be:
(a) f 30,000 (b) t 32,400 (c) t 60,000 (d) t 31,600
2 Read the following statements:
• (i) In the absence of Partnership Deed, no interest is allowed to partners on the capitals invested
by them.
(ii) In the absence of Partnership Deed, 6% p.a. interest will be charged on drawings made by the
partners.
(iii) In the absence of Partnership Deed, a sleeping partner would get an equal share of profit.
(iv) The partners shall share firm's profits or losses in the ratio of their capital contribution.
Which of the above statement/ts is /are true?
(a) Statement (i) and (ii) are True. (b) Statement (i), (ii) and (iii) are True.
(c) All Statements are True. (d) Statement (i) and (iii) are True.
3. XYZ Ltd. issued 5,000, 8% debentures oft 100 each at a premium of, 20 per debenture redeemable
after 5 years at a premium of 10%, payable as follows:
On application 60
On allotment 60
The debentures were fully subscribed and all money were duly received. At the time of allotment
money received, Bank Ne will be debited with:
(a) t 4,00,000 (b) t 5,00,000 (c) , 6,00,000 (d) t 3,00,000

~ i ltuattt
 t)r
) 11 i~~uc,1 dchcnl\1rc,11 of , 1oo c .
Jyoti Ltd. pun.·h 11 ~-d 11~~ \\W1h ' '44-l~.OO •"'lnsidcrRlllin. Rc~t 1.-onsidernthi'kh tit
nhl. . f .... nul\·hll~ c, • ll w J)r:
l vm in ~tisfl\."tion of ~'l tl 111'- " ·wndilr is: I\~ J)111 ~-
draft. Thr num~r of dt-btntur<'S i~Ul'<l 11' (h) 20,<XXl debentures d ~\
(a) ._.,<XX) ,kbcntu~ (d) 42,IX'Kl debentures I...'
(c) 22.<m deb(-ntu~ . I t' TI ,
. d lo.«s in cqu11 r11 10. tc average '
4.. P. Q and R ~>t~ partlk'rs sh11ring Pl\'''' "" 1 P"'fit ci1rned was t 1,20,000. If n capita1 t
the firm was, 8.00.000 and tht' 11'~~ "~ n of pnrtncrs , 25,000 is expectedoro,111 ra,ttip~
on capital cmplo,'t'd is Q'lf- ~nd remuncrntto ' the su e Wt~~
the ron<.'Cm is· ( ) t 24 000 (d) ~t p ~,
(a) t 48.tXXl • (b) ( 26.000 c ' t 23,00Q ~"\
Or
. . valued 81 3 years' purchase of super profit. Th .
The ~,n of a firm ts' tJ..5.000 . • 8% The average profit f fi e Capit
of firm is t 3.00.000 and normal rate of return ,s(c) '69 000 (cJ°) till is: a1 ettil>ki..
(•) t 2-4.<nl (b) , 64,000 ' . 89,0()o
S. Aster1ilii (A): Aa:ording to AS-26, goodwill should be recorded m the books only When
for it is paid either in cash or in kind. . . COnsidc
. . _ (R): Purchased goodwill arises when business ~eates its own reputation ove t~,
.;_. due . &--.... such as good location, efficient management, good qUahty . r a "" .
....... to vanous u,,....vrs t'Cfitl(j
etc. Of Pt
(a) (A) is oorrcd but (R) is wrong. .
(b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
(c) Both (A) and (R) are incorrect. .
(d) Both (A) and (R) are correct, and (R) is the correct explanation of (A).
6. The liability of shareholders of a public limited company is limited to:
(a) unpaid value of shares (b) face value of shares
(c) up to private assets (d) called up share capital
Or
Those debentures, which are not secured against any asset of a company, are called·
(a) Naked debentureS (b) Non-redeemable debentures •
(c) Noo-c:onvertJble debentures (d) Registered debentures
7. On 01.04.2022, x and y are partners having capital of t 8,00,000 and t 5,00,000 res .
introduces additional capital on 30.09.2022, t 80,000 and on 1.1.2023 he withdraws~ :cltve~. y
his capital. Interest on capital @ 9% p.a. on Y's capital will be: ,(XX) frolll
(a) t 45,<XX> (b) t 47,000 (c) f 47,700 (d) t 49,600
8. A and B are partners in a finn sharing profits in the ratio 5 : 3. C is admitted as a new
The new profit sharing ratio of A, B and C is 3 : 2 : 3. A surrenders 2/5 of his share in fpanner.
C. B sacrifices: avour of
(a) 4/5 (b) 1/4 (c) 3/8 (d) 1/8
Or
X and Y are partners sharing profits and losses in the ratio of 5 : 3. On admission, z brings
t 80,<XX> for his capital and t 30,000 for his share of Goodwill. New profit ratio between x,y
Z is 7 : 5 : 4. For treatment of goodwiJJ X's Capital Ne will be:
(a) Credited by t 7,500 (b) Credited by t 22,500
(c) Credited by t 30,000 (d) Credited by t 25,000
Rtad the following bypotbedcal situation, answer Quesdoo No. 9 and 10.
Yash Raj Ltd. is registered with an authorised capital oH 50,00,000 divided into 50,000 equity shares off 10
each. The company issued 40,000 shares at a premium of~ 3 per share which was to be received on applicatm
All th~ shares were applied and allotted. A shareholder holding 1,000 shares did not pay the Allotment om
and ~mal Call money oft 3 per share. Another shareholder holding 500 shares failed to pay Final Call. Company
forfeited 1,000 shares on which allotment and call money were not received and later these were reissued for
t 11,000 as fully paid up.
 . I Of the company will be:
0,000(c) f 3,9 (d) f 4,00,000
ot fully paid up ~, ta will be·
~r it,e d tntf n (b) f 5, (d) f 3,89,500
up ca4 pi0 0ta l~the co m pr r f 3,95,000 • ·
f. f 3,500 I fully paid , .
20% paya ble as f 5 on applicat1on,
f f 20 each at a premium of
(b) f ,
•t,ed anc ares paid
, s11~" 85 000 anc e the final cal l. Mukul, holder of 650 sh
1 • (a) f J, '. ed s,<XXJ equity sha~es the
bal the time of
Th e am ou nt to be de bited to bank account at
~ 0 11y Ltd• ;:~nt f 3 on first cal an ney
1 • wit h allo tment mo •
1
I•f8 on al o will be· (c) f 34,800 , (d) f 29,600
1ue of sha res
full va f fina
receipt o 1
ney
l call mo (b) , ,000 40
•
fro m pre vio us ye ar s pro fit for fin
.
din g normal profit for
. . be btract ed
( ) f 50,CXXJ su
" . h of the folfoW Jng ,s to
t (b) Loss due to fire
,z. WJitc ·on of goocfwill?ft.Xe~ asse (d) (a) and (c) both
valuall fit on sale of smg stock io of 3: 2: 1. Jim retires an d his
(a) Pro, luation of clo tners in a firm sharing profits in the rat • • 00.
d fi a uat1on eX1Sts at f 1,75,0
I
(c) overva
d Ch arry arek'nparg adjustment for reserves an pro 1t on rev im. Th e go odwill of
Jim, Tom an
to pay him f 2,1 0,0 00 in full settlement of his cla
13• capital aceount a~ e:: a~ ~e d
Tom and Charry. a (c) f 70,000 (d) f 1,05,000
(b) f 1,0 0,0 00 .
the firm valued ,s: . . yam died on 27th June 2023
. Accounts are
(a) f 35,000 Mohan are sharing profits m the ratio 1 : 2: 1. Sh 3 w~ 30,00,000 and
re f
Sh mand the year ended 31st March 202 nod from 1st April
J4. :i:d o~ lst March each yea
ly. Th e
r.
sal
Sa les and pro fits
es of firm amounted to f
for
15,00,000 between the pe
pital Ne will be:
,5
4 0 000
res pec tive
Th e am ou nt of pro fit to be credited to Sbyam's Ca f 3,65,000
;0 27th June 2023. (c) f 15,00,000 (d)
(a) f 1,12,500
(b) f 56,250 realize f 7,500.
be en wr itte n off co mp letely. It was estimated to try will be·
. There was an old typew
riter which had ated price. Journal en
15 ay by Mo han , a pa rtn er at 25% less than the estim •
It was taken aw Dr . 7.500
(a) Realisation Ne 7,500
To Mohan's Capital Ne 7,500
Dr.
(b) Mohan's Capital Ne 7,500
To Realisation Ne 5,6 25
Dr .
(c) Realisation Ne 5,625
To Mohan's Capital Ne 25
Dr . 5,6
(d) Mohan's Capital Ne 5,625
To Realisation Ne
Or
h . .
in the books at f 40 000 ~f It 15 taken by a creditma or at 10% above
Investment, which appeared nt of his claim and th ' the rket at 6
the book value in full settle me e remauung half was sold in a pro t
of 2.5%. J?urnal entry wil
l be:
Dr.
(a) Realisation Ne 20' 000
To Banlc Ne 20,000
(b) Ba nk Ne Dr . 25 ,000
To Realisation Ne 25,000
(c) Realisation Ne Dr. 44,000
To Creditor's Ne 44,000
(d) Creditor's Ne Dr. 69,00 0
To Realisation Ne 69,000
ash , Gagan and Va ri
16. Ak yu. are partners in a firm shaan J brofits and losses in the ratio of 4 : 2 : 1. On
1st April 2023 V:
shall be fixed ~t trretire~ from the firm. Akash
ID the ~rofit sharing ratio. Th /~ ~t :re e that the capita
l of the new firm
after
all adjustments on ;~ •: ow ed balanc es a'; f 3~ ;;, rs of Akash and Gagantively.
t~f :ti re me nt ~b and f ~44,000 res pec
T(he amount ~f actual ca s: 000 brought ID or to be paid off t h ,
a) Akash Wi thdraws f 44 s f 56 000 o t e pa rtners will be:
' and Ga gan bri ng
(b) Akash brings f 44 000
(c) Akash withdraws 44 i Gagan withdraws f 44:ooo
and Gagan withd raw s f 56
:
000
'
(d) Akash brings f 44 000 and Gagan brings f 56,000. ' •
'
 \

17• J, Kand Lare part • •

and his share of n~rs. m a firm sharing profits in the ratio of 2 : 3 : 5 . L died on
JO h
t June 2023
t
basis of.the average Pror,~,
for the last profit till the date of death was to be calculated on the
our years. The net profits for the last 4 yeors have been
as follows.
20l _
9 20
f 45.000
2020-21 f 55.000
2021-22 f 65.000 .
2022-23 t 75,l)(W ) cess•,r y Journal entry in followin
Cal I . nc ·' g
cu ate LS share of profit upto the dute of dc11th and pllSS .
cases: g ratro.
C t : J ond K decided not to chnngc their f11111rc prof'I1 • shurin • f1.2
asc •
C'\s,c 2: J and K decided to share future profits • the r11t10
• 111 . ° · •
11 th net profit after
18• X and Y arc partners in n finn. They ngrcc on th c ''!111°;~,•,~;imission of to% of 3 c
'entitled to a sala~ ~f t ,CXXJ p.a. together
X is entitled to a s:ilnl)' nf f 500 per month to~ct~icr is bef0rc
charging sal:uy. but before nny co111n11s_c.101~. .' l·1ry and all comm1ss1ons. Net Profit
ch·1rging s.i '
drnrging

fter
' . f 60 ooo.
•I fi
11 11
w11 l a C()mmi~,;;ion of 8% of Net Pro ~,tary
ft c ,. •
c urging any l'ommi:-sion but n er · •011 Account.
,s •
I arging
.

1I Or
Prcparc Profit :rnd Lo!-s Appropna

-
, 1, te interest on capital and interest 00
of Giri and Golu, cc1 1cu a
From the follo"~ng Balan ce Sheet Z023
• t1ie ye,ar ended 31-3- Amoa11
drawing~ @' 5% p.a. for

Liabilities
Amount
(~)
Sundry Assets
Assets (f)
-
1,84,OOo

Capitals:
90.000
Giri 1,60,000
70,000
Golu 24,000
Profit and Loss Appropriation Ne 1,84,00o
-
1,84,000
• • f month and Golu withdrew ? 15,oOO
begmn mg o every 23 t 84 000
During the year Giri withdrew t 2,000 at the
20 were ' • .
,
during the year. The profits for the year ended 31st March .20ZJ . Rmky a
equity share s on Ol.0?
GT Ud made the first call oft 5 per share on its 50,000 along.wi th th e fi~st call
19 final call amou nt
• sharehoider, holding 1,500 shares paid the second and
second and final call amou nt was t 3 per share. Pass the ?ecessary Journal entnes for
money. The
ance Account •
first call and second and final call using the 'Call-in-Adv
Or
On April l, 2022 Jitu Ltd. issued t 40,00, 000, 8% Debentures of t 50 e~ch ~t 10% discount
these debentures 1s paid half yearly on
redeemable after 4 years at a premium of 5%. Interest on
entries for debenture interest for the year
30th September and 31st March every year. Pass Journal
2022-23.
in equal ratio. From last year
20. Pooja, Seema and Meenu were partners sharing profits and losses
ss. Finally Pooja and Meenu decided to
due to medical reason seema devote less time in the busine
effect from 1st April, 2023, they mutually
reduce her share in profit to which Seema agreed. With
2. On that date, there was an Investment
agreed to share profits and losses in the ratio of 2 : I :
Fluctuation Fund of t 45,000 in the books of the firm.
It was agreed that:
(i) Market value of investment is decreased by t 15,000
.
the books 21,000 .
(ii) Proft and Loss Ne (Dr.) appear in oft
(iii) Goodwill of the firm be valued at t 1,20,000.
(iv) Profit on revaluation of assets and reassessmen
t of liabilities amounted to t 39,000.
in the books of the firm.
Pass necessary Journal entries for the above transactions
 losses they decide d to dissolve their firm.
artners in a ~rm._Due to heavy
.., were cqu_al pr the followings. .
Y 11ncl ,,, fi 's cash for which he was to get a remun eratio n
I entries or soft 1,800 from ,rm
,<. Journa . 'on e~pcnse.

v,r,
JI• f'll~c the 'd the rcahsa~•
(i)
o
1;
.5(){J from f~';;o . accepted stock of t 000
d. ·,or of f I • • 40 ()()(). X took over 0 o
.
t a discount of 10% and balance m cash.
~ :f stock at 20% discount and balan ce stock
.. A ere I k of , •
(11) 'There was a stOC fit of 30% on bo<>k va Iue. k f t ••
l 0 000 was dishon ored, and a final dMde nd
(iii) sold at a pro t discounted through ban or '
was. hich had been drawee.
(iV) A bill w were received from . .
of so% . ed capital oft 20,00,000 divided into 2,00,000 equity shares oft 10 each,
. ki Ltd. with an auth;: ~f the shares payable as follows:
il· fll1k s the entire amou d' premium t 2 per share),
issue lication (inclu ing
f 5 on APP
n Allotment, . nts of t 2.5 each.
f 2o in two equal mstalme d ey due on application and allotm ent was also
'fhC balance lied and allotted an mon
the shares were app
All ·ved. . . .
rece1
When the ,rs
.
!
holdin 600 share s paid the cntue balan ce on his holdm
fl t call was made one applicant f ·1 to pay the first call money
h Ider holding 900 shares a1 e . Secon d and final call
g
another share o
and d
was not yet ma e. . the Balance Sheet of Nikki Ltd.
Show how they will appear m . fit and losses in the ratio of 2 : 3. Their Balan ce Sheet
d Lara are partners sharing pro I s as
23, Tara anM ch 2023 was as follows:
at 3l st ar ' Balance Sheet
as at 31st March, 2023

Amount Aaon t
Uabllltles Assets
(~) (t)
Capital Ncs Patents 41,000
Tara 1,85,000 Land & Building l,65000
Lara 1,25,000 3,10,000 Investment 1,20,000
Investment Fluctuation Fund 18,000 Debtors 76,000
Outstanding Expenses 12,000 Stock 32,700
Employees Provident Fund 25,200 Bank 14,300
Provision for Bad Debts 3,800
Kala's Loan 80,000
4,49,000
4,49,000
Kala is admitted as a new partner for I/4th share of profit on
the following terms:
(i) Kala's loan will be converted into his capital.
(ii) Goodwill of the firm is valued at t 45,000 and Kala
is unabl e to bring bis share of Goodwill
in cash.
(iii) Land & Building is appre ciated by 10%.
(iv) All Debtors are good.
(v) Out of the insurance premi um which was debite d
entirely to the profit and loss account,
t 7,000 be carried forward as an unexpired insurance.
(vi) Stock includes an obsolete item of t l.060.
(vii) The market value of the investment is~ l,10,000.
Half of the investment is to be taken over
by old partners in their old ratio.
(viii) New profit-sharing ratio will be 3 : 3 : 2.
Prepare Revaluation Account, Partne rs' Capita l Accounts
and the Balance Sheet of the new firm.
 Or
P. 0 and R were pnrtncf8 in n finn shoring profits and lossc~ In the ratio of l : 2 : 3• Their Balance
Sheet as nt '.\ht Mnrch. 2021 stood as follows:
B11l11nce Sheet
A__-
i\lllftftl M1tU (f)
UabUltlts ..
(f) --.
2s,soo
Creditors 80.000 Cash in Hand
28,soo
Ou~tanding Expen~es 24,000 Cash at Bank
65,~
General Rcse" e 90,000 Debtors
76,500
1

Bills Receivable
Capital Ncs: 86,~
p 2,00,000 Stock
1,62,SOQ

---
Furniture
Q 1,60,000 2,30,~
Building
R 1,20,000 4,80,000
6,74,000
6,74,000

Q died on 30th November, 2021 and as per the Partnership D~ed his executors are entitled to:
8
Account and mtereSt thereon_ @ % per ~nnurn.
(i) Amount standing to the credit of his Capital
(ii) Share of profits for the intervening period will be based on the sale_s durmg that penod and
average of three years' profits earned in the past. Sales for the penod were f 4,00,000. The
rate of profit during past three years had been 10% on sale~. .
(iii) Goodwill according to share of profit to be calculate~ by taking twice ~he amou~t of profits of
the last three years less 10%. The profits of the previous 3 years were. 1st Year. t 62,000; 2nd
Year: t 72,000; 3rd Year: t 82,000.
Prepare Q's Capital Account.
24. Bright Ltd. with an authorised capital of t l,00,00,000 divided into t 40,00,000 Equity Shares of
f 100 each and t 60,00,000, 10% Preference Shares oft 50 each. On 1st May, Bright Ltd. decided to
issue t 20,00,000 Equity Shares at a premium oft 20 payable t 40 including premium on application,
t 30 on allotment and balance on final call. Public subscribed for 18,000 Equity Shares. All the calls
were made and money was duly received except the call money on 500 shares. These shares were
forfeited and later 300 shares were reissued at a premium of 10% as fully paid up. Prepare Cash
Book and Journal of Bright Ltd.
Or
Nyonika Ltd issued to the public for subscription 40,000 shares of t 10 each payable as under:
On Application t 2
On Allotment ?3
On First call ?2
On Final call ?3
Applications were received for 60,000 shares and allotment was made pro-rata to 80% of applicants.
R to whom 1,600 shares were allotted paid only the application money, and S who had applied for
2,400 shares paid the entire call money due along with the allotment. Pass necessary Journal entries
to record the above transactions. They company did not call the first second calls yet.
25. P~ss necessa_ry Journal entries for issue of debentures for the following:
(1) Y Ltd. issued <' 5,00,000 8% Debentures of <' 50 each at a premium of f 10 per Debenture,
redeemable at a premium of f 5 per Debenture.
(ii) X Ltd. issued 2,000 9% Debentures off 100 each at a discount of 5%, redeemable at a premium
of 5%.
(iii) Z Ltd. issued 5,000, 7% debentures of <' 500 each at par, redeemable at a premium of 10%.
 tner.1 in a firm ~haring profi~ in the ratio 5 : 4
d t<aran are par : I. Their Balance
,, sagar an 2023 was as follows:

.....
t,4ahe~• March,
z6, t 35 at 3Ist Balance Sheet
5hee

1,1,1bl11tlet (')
AaMti "- -
tt)
Goodwill
27.IXXJ
capitals: 85,000 Land
64.IXXJ
r.,{ahek 54,000 Machinery
34.IXXJ
Sagar 36,000 1,75,000 P'atcnts
2.IXXJ
J{arao 14,000 Stock
.
ou1s1aod1ng Expenses
25.00 )
47.000 Debtors 50.lnl
creditors
20,000 Bank 54.lnl
General Reserve
l,S6,000 2.56.000
mahek will retire on the following terms:
It was agreed th t
ood a. ·f the firm is valued at two years, purc
. The G w111 o hase of the average annual profits of the
(r) . th ee years. The profits for the last three
precedtng r years wer e, 34,000., 42.000 and t 50,000.
. . f r doubtful debts at 10% on Debtors to
(")
11 Prov1s1on o be created.
d valued at , 82 000 and Machinery at t 24,00
(iii) Lan re ' 0.
. S dry Creditors have agreed to accept 5%
(rv) un less.
(v) Patents were valueless.
Pass necessary Journal entries.

I Analysis Piiii"
Al Ip=""•
I I Statement I
27. A Trade Receivable of a concern is expected to be received in 8 months whereas its opera
is 6 months. Trade Receivable will be classified ting cycle
as:
(a) Non-Current Assets
(b) Current Assets
(c) Fictitious assets
(d) None of these
Or
The quick ratio of a company is 0.5 : 1.
Which of the following statements is true?
(a) Payment of insurance premium in advance
will increase the quick ratio.
(b) Purchase of goods for cash will reduce the
quick ratio.
(c) Issue of fully paid-up share will decrease the
quick ratio.
(d) Issue of debentures to vendor for assets purch
ased does not change quick ratio.
28. From the following information of G ltd. find
Interest Coverage Ratio:
Net profit after tax , 4,20,000
Long-term 8% debentures , 5,00,000
Tax rate 30%
(a) Hi times
(b) 12 times
(c) 18 times
(d) 6 timc:s
29. The following infomr
ntion appeur in the balance she
et of Milli Ltd:
l
---...
Partlaalara Note no. 31·3·2023 (f) 3I •3•2022 (f)
_, c=
---....
6,00,000 4lXJ,~
Equity Shares
JJ,00,000 15,00,~
10% Debentures
40,000 25 ~
Bank Overdraft
36,000 49,(XX)
Creditors
-----
Additional lnfom1ation:
30-9-2022
Debentures were redeemed on
Activity is:
the cash flow from Financing
From the given infomation
(a) Inflow of cash t 2,00,000
00
(b) Outflow of cash t 3,30,0
(c) Outflow of cash t 3,02,000
(d) Outflow of cash t 3,15,0
00
Or
information:
• the year from. the following
mg
• d out the provision for tax made dur
Fm
Extract of Balance Sheet
Current Year (?) Last Year (?)
Note No.
PardcuJars 79,00)
66,000
Provision for Tax

Additional Information:
f 85,000.
Tux paid during the year was
(a) f 72,000
(b) f 85,000
(c) r 98,000
(d) r 62,000

JO. Dividend paid by a frn

ance company is a cash flow of:
(a) Investing activity
(b) Financing activity
(c) Operating activity
(d) None of these
Sheet of a company
-heads the folJowing items will appear in the Balance
31. Under what heads and
sub
3:
as per Schedule III, Part-I of the Companies Act 201
(i) Debentures
customer
(ii) Advance received from a
(iii) Motor car
(iv) Leasehold property
(v) Public deposit for 12 mo
nths
able on retirement
(vi) Encashment of leave pay

d
 ·ng cs\cu
\ate:
ff<)11' thC fo\lOWInvestm
1

Jl• en t
) 1tet11rn on 1\1rnover Ratio
(11 A~sets
~e t • •
(b) , fUnds,• 10•00'000, \2% Long-term loan t 3,00,0
....t,olders nnn current Liabilit . 0} Reseivc & ~--....a
Sh1'•.. ies t 2,70,000, Current ' •.,.us t 3,SO(XX)
.., As.~ts t \ 8'()(),vvvS",
% (o!§t of revenue fro ~, el ! t 4 00 (XX) N
'fol" ()()0 'fa,t Rate V7< m ' '
c,_ .,
' opcra tiom t 20 00 (XX) ' et I\J lll be• for •
'f~ t 15• ' . nr ~
'"" fo\\OWlng 8 a1anee Sheet of Sun Ltd., as on 31st March,
• ' , -- "'~ " rat
io 25%. c
fr011' {ii " 2023 , prepare a m m -. ~-
33, -· ·~ ~ Balance
st,eet:
Accounts Guru Ltd.
Balance Sheet as at 31
st March, 2023
Partkalan I

I
NelitNo. 7
l 3U l.l ll3
l
~ l t y and Uabll 3
1. EqU ltles
t. Sh artholders' Funds
(a) Share Capital
(b) Reserves and Surpl 30.00.000
us
2. Non-current Uabilities 4.00.000
Long-term borrowing.s
3. current Uabilities 10.00,000
Trade payables

6.00.000
Total
n. Assets 50.00.000
1. Non-current Assets
(a) Fixed Assets
(i) Tangible assets
(ii) Intangible assets 30.00.000
2. Current Assets 6.00.ln>
(a) Inventories
(b) Cash and cash equiv 10.00.ln>
alents
4.00.000
Total
50.00,ln>
Prepare Comparative St OT
atement of Profit and
Loss from the given inf
ormation:
Pu tk m n
3111Mlm.llD 3b1Mlld
Revenue from Operatio "" l.JID
ns
Other Income t 4,00,IXXI t 3,00.CXXl

Expenses-SO% of Reve '80.000 t 40,CXXl

nue from Operations
Income Tax Rate
40% 40%
 7
.
34, FromthefollowingBnlanccShcctsofll1rn Ltd. nson 11-1-2022nnd 11-1-2021 prcpitrcCash FluwStaternc,,1
Nm, JI.J,20J.l JJ.J.2022
Partkul1n (f) (f)
No.
I. EQU11Y ANI) LIARIUTlES
" - ...........
l. Shattholde"' Pund!I:
10.00.000 8,00,,_.1
(n) Share C.npital
6,90.000 4, 10,,KKi
(b) R~scrvci. nnd Surplu!< I
l. Co~t Uabilltle!ii: 85,000 2,00,~
(n) Shon-tern, Bom"'l\vi1w.,; (Dank l1\lcrdrnfl) 72,60() I ,SO,(K))
(h) Trade Payables 30,000 50,<Kxi
(c) Other Current LiAhilitics 2
63000 60 ()()(J
(d) Short-tern, Provi!-ions 3

---
19,40,600 16,70,009
Total

11. ASSETS
I. Non-CurTent Assets:
Property. Plant and Equipment and Intangible
Assets 4 9,56,000 8,40,000
(a) Property. Plant and Equipment 1,80,000 1,95,000
(b) Intangible Assets - Goodwill
2. Current Assets: 1,50,600 72,000
(a) Current Investments 2,60,000 2,93,000
(b) Inventories 2,40,000 1,60,000
(c) n-ade Receivables 1,54,000 1,10,000
(d) Cash & Cash Equivalents
Total 19,40,600 16,70,000
-
-
Not.es to Accounts· . -
31.3.2023 31.3.2022
Particulars (t) (t)
-

1. Reserves and Surplus: 6,90,000 4,10,000

Balance in Statement of Profit & Loss
2 Other Current Liabilities:
30,000 50,000
Outstanding Expenses
3. Short-term Provisions:
63,000 60,00)
Provision for Tax
4. Property, Plant and Equipment:
Machinery 11,50,000 9,80,00)
Less: Accumulated Depreciation (1,94,000) (1,40,00>)
9,56,000 8,40,00)

Additional JnformaJion:
During the year Machinery costing t 3,85,000 was purchased. Loss on sale of Machinery amounted
to f 6,000. f 1,20,000 depreciation was charged on Machinery.