Total No. of Questions : 24 | Code No. 30 167 Total No. of Printed Page Juste /July, 2011 ‘ ACCOUNTANCY (Kannada and English Versions } Time : 3 Hours 15 Minutes | [ Max. Marks : 100 ( Kannada Version } wr -A & BeNayrIeS, cinaymede ae aerert ws OR. 39 gat ach sowie + Bx2=16 1, og dahacd de, cig zak adeb almoriem, 208, 2. 0 uote? ai} s accents ? 8. gal gained weeny, doo, 4. Hoh Sxturdoh chon, menor wscbay, srtagacmnn adatod deems muaidatay, £28. 5. . shuorict ed aocidess 7 6. & deAtayrival, somiRod emt BEsodY cnet! BdudaS drt FacODNO 7 a) mmMUdhS mms b) semen dori dueion 7. aeeab otnaymcice Ave Tey BrivaD, BCA, 8. mRmUess xox, aoridesd 7 9. nresega dd, 203.8 ( Computerised accounting } somder> ? 10. rented’ OH, oo Sob consjmtie ave Sxheoudnea 202. [Turn overCode No. 30 2 12, 13. 14, 15. wrt B S funeayiv®, commence sheds BY NeM wg_DR. GB YA wed sodite>: 3x6=18 weber mbaz, docks’ ‘gnesratonridy,, e208 01. 01, 2007 comy Sag ela. SA, 60,000 89, Be, 40,000 omsany alnotichas,S. etd) 3:2 0 AataNAd, OWS SALSA SHobavy sys. 2007 v wes.) etd AH,Y eneIts Hew, de. 40,000 a, “memes dnt asd ged, Q womsnett ches paws de. 5 dog ta chsh, Decdeleed, W dacesan airs ‘tooet Us. 10,000 deat, ii) 8 Beira, archos H08 Servs, oso oe. 6,000 mee, dorks da. 8,000 marie YRU EHOE 2g, UERbENA da. 400 shes, do. 600. fv), oosbern mare owe dia. 6,000 aenketess, Coty abe, Ra Saotoert RED, FOROA. Sabeo, Ares Brey Lridew ald> evemmvdmy, ory-RAIeAy 4: 3: 2 e SalneTO, SetsH.oey,2.coes,G, woe, xbdess» Nox chord 5,8, Seocbaas, dsbes ire Gai AES BAN Cael ajatmeaey wabsteDA 5: 3 ect. Sched daria turkey eastcorie ried aistmrastny, Someone, S8a88, weiw she, ody veidd weeemdoahch, enes-seesy geoaA 3: 2s 1 BaNOg, workevyens. Qed 01. 01. 2007 dors sxe novmenyD BDYSTTA A. 40,000, Ue, 50.000 aad, 60,000 revert. S08 31. 03. 2007 dor een swdrs Baoadad, stored mosssdAs ext RUS) Us. 6,000 Ie, Gals BearATIE,TO ob med UD. 18,000 ad. eR as Series Gia. 1,000 Ronwatay, deciles, sored Smosdiaidad mens x03 stig da. 5000 webs. RLDOS ueciecs andohey FRO, COS AEHC HONS Aad Ce. 100 sod velo 10000 MONT, Soria, Snowe, Sabres sine, w areas, ot O88 ateddogenmeg st : wuiroiscari de. 20 dadon shed ce. 30 Bob shed de. 50 doy, Schrier erie mode, weosinh, MOoHWA aeebea Roan. URES dace cara, Boo, Scuriy Onc5 aheacnieah, Xe8,ah RN OFtORs| | t t | i i | | 16. 3 Code No. 30 » mn-c SenaEyIvg, cinaimade mm, Gare vos. 38 gait Gomer, worries : 4x 14 = 56 Seow tied mmOcinAdy, esi: Ja, ded Ae erivey, ne Setack ad} tobe, see haye. Yas SED a AOOd ds BUNS ses OF, Doda ch: “Satori ]-31. 12. 2006 de. gonQz enh 5.000 10,000 omoaed), eric 6,000 8,000 bd 20,000 30.000 wbedriga 30,000 42,000 dries 20,000 25,000 Ose, Booaris 5,000 8,000 sacia, shooried 3,000 5.000 edorsitora 20,000 20,000 chokgeeteica 50,000 50,000 sea,ciriop 60.000 60.000 Bair GO, sates Be, x08 Sey,g, we aorleri ve. 500 marie Oe. 12,000 Hee NOeriesy, Bx, tht weer eomotecnateodes, Amo? 30. 06. 2006 decty de. 10,000 diz, wed. wortmevatsy, domnacic. ataormdaries : D_ BaycaNe ciedowt> Be, 20 Oak, aleay ACS, W) aedocciscrariés ante ancdgeatddrore shes de, 10 dat, antey Scio. ii) G2. 2,000 sort mea, grfox0: iy) wootereves abet de, 10 dak, wha oda, doddtoBono, vy) docs Rone? de. 1,000. SOLID + lo a} ai xiemorie 8,8 city, ‘ b) exe erie oa, ste, c) 31, 12, 2006 vod aotaThers AS BBd [Turn overCode No. 30 . 4 17. bere? abe, mrousdady; (xte8 3.1. 12, 20068 o wens x58 menmod: ovty ahs, Hace Ome 31. 12, 2006 dors weld ware ay Gi 3:2 sptmrecod obes, aa varie ae 20,000 | em,c8@, eri 7.500 22,800 | sd 9,000 7.500 | viele: ~ da. 20,000 - Soe da, 1,000 | 19.000 gomet de. 30.000 dae, aoe 3,500 dor? — da. 20,000] 50,000 | axdacaisere 5,000 ones shah, dah ad 15.000 | csodigerscro 17,500 , seyaries 46,000 wontriee 7500 ! 1,15,000° 1,18,000 Beno 01. 01. 2007 cont asaistrt } 2 ts eee, aREUTROEN & BeAS SNCS shed enean0sA gated Acton 0 abGat noeem,A oO. 30,000 airs eSrsfe,%, 06. 20,000 snd: soetee, ‘ . i) dearssho,siny, avon mexmnekh Locid, stems. i) 2cdacelddors arta cbedatsacrane ses te. 10 dam, xesetomry Brio, F Wy) Sich moc! eel da. 2,000 sey. ¥) Shastry aE, steh, in, 60.000 aces Agrorennd, vi). dncide, eralew Sys ons Gs, 450. BOIRMOL + al WROTE, snd b) SREXTROS node wanes Otek acne nae5 Code No. 30 18, BOs snes, aades me MGOR:, eney-aa_ wey, ASEAN WooldewyRD. eso Hod cht, Omes BL. 12. 2007 com Saveser Lagscamd. sad sot sigtoae Si 0e8 ch, 2570881, 12. 2007 ¢ vane x58 rane one mn. ear ae. ‘ Bare 25,000 | omee®, arid 10,000 sacise, moar 10,000 | ze 18,000 wadees oT ens 10,000 | sarin 25.000 sneFeo BH 5,000, | - arian ~ 3,000 | 22,000 sosmene : exces, motrie> 5.000 woes 40.000 foamed mas 10,000 . mee 80,000 | 70,000 | sxdoeaitoro 12,000 odtod.geaitore 16,000 . saciid 23.000 Tes Ra and 4,000 1,20,000 1,20,000 1} Wayrldah, & Senses sinowd Saceachs + * Adds 02. 25,000, sxbrérivs dz. 20.000, nose, Bouriv> ca. 4,000, Savin met Je. 10,000, sedacsisirs da. 8.000, choxetaitcrs . Ba. 15,000 soa, #83,crI¥: 0. 20,000. fi) dedrie sew risk, woes gichdeoadays. i) éacta, monriday, de. 5 de, otab sino maBenCT. iv) axuers adobe oe. 2,000. a) Sermo ss b) mneamned worn ame ) tbs ans [Turn overCode No. 30 6 19. 20. Qmreg 01. Ol. 2003 dors sox oss ches may, cs. 40,000 &, LdeDaZs. fence 01. 07. 2005 & Secs “01. O1. 2003 vom: Dorman ches aR, Ga. 30,000 &, snows Radeese ote wele Omostiosd shox ohosaey, da, 20,000.4, 2deaxence. ceogmy shes mars 8. 10 Gay, ahse dead shed mmeeccbes, grime. chogle and annie nee anvoay mex, salerient don’. BMF 31, 12. 2006 dock dadrevys Haire, sowotac shenohas Aa eee Liga Uob-a.cb andabay di de deacons Bmn08 81. 12, 2006 ¢ wod-x,o0: ans oe ea. mee ee, 7 append Bey, ceed ese 2.000 i (01. 01. 2006 ) 6.000 |» snan aarte dort 4,000 > wearin: Fea 4,000 : saad weno _ | 16,800 00 2,000 te veo 1,600 aymedsaram dy, | 3,000 + 8 AD 21,000 | * seem maniyiv 18,000 - sito Oxayerd ~ goa bey, 1. 12.2006] 24,000 | Bienes 100 ats oe, 6.000 " eoeaeenotd woe, 2,500 208 31. 12. 2005 ¢ und #38 waraere, Onis co cane Con 2006 ¢ seeriries 1,000 | arin 6,000 noniend 8S 40,000 | wotlesscs cost 2.000 aedorseces 20,000 ‘ gem mane: 13,000 41,000 41,000 Bocmmedtries « D) ¢ Stared dain xbixcocd exceleracd coat da. 1,000 om8 ch. ii) Sedhzesiecrocd sheet de, 10 Oxy, xsiee SAomDO. ii) Jake sho,kd, edi chesney, nomme age ze02, 81. 12. 2006 4, howe) exo vonab sthyre ndobey, marie ems wy dobry, -SodnOR,7 Code No. 30 21. cident dattchs Ouch Wenn’ dostnek mad atty, mirle aeomediny macisoerd, somhob soSsd andrivay soinOs : Om08 81. 12, 2006 ¢ ed xe, Sores eae (Dr) em (Cr) ae. #8 arart node? - 1,20,000 gare 40.000 = spemes 8 - 70,000 ardarsscro 20,000 - ant 10,000 - Hote 5,000 - wordriee arte Gariss 60,000 80,000 nde, vie éaciae, spotriee 25,000 10.000 FMR oS 10,000 - oie, denxet sto, 7,000 = aces mmnedé ated, 6,000 - stages marke moa 6,000 - 20k marke snows 1,20.000 1.80,000 oe wosidcreries 20,000 a enes-aia, DdoReertes oS - 10,000 fond, dnc 21,000 - derig ee 10,000 = aerate, 40.000 - ated 40,000 - papoedes Adee dey, 30,000 a cee apa 10,000 5,000 10% meagre - 5,000 4,80,000 aBoormedtrteh : i) Geog 31. 12, 2006 6, sacbss wodah xvmNE vex, 50.000. 1) Sedeeatecrent shee at. 10 aris siya chee Be, 5 Osty, Xadeorbay, Schoo. I) sordriy shed de. 5 dah, Sremer HHOMRy, ‘Sricw8. Wy) Seeley ROM Ga, 5,000 cimFoRA. Vv) mesigrld shed womb sales} 298 obey, datistennhdl. {Tum overCode No. 30 8 wn -D Capokecns gure ) 6: dUnSEIeY, cinjontid.e adeb sjgien eng_or. a8 jaf ocd soarteh : o 2x5=10 22. auch card Xobme SouNY Spsee ny cb xshes tadriecysod mupe degre Renok TODOS aves sree, ROR. 23. cineymdoe ach mead cegny xacbded seakak oniy-aa, Dackeet saedodteh, SooWOR. 24, & dene worieny, nocd shah, socnabsaN Soka + a) meet, reodekoge! 22000 steg, b) vostegx Bacaad oaleo seg, oO) deabeirig sete 228, d) oxsiy shed xatse e} | AoRarie stmmesned! eon! shay,10. AL 9 Code No. 30 ( English Version ) SECTION -A Answer any éight questions, cach carrying two marks. 8 2= 16 State any two types of Single Entry System. What is Fixed Capital Systera ? Give the meaning of Sacrifice Ratio. Give the journal entry for the asset taken over by partner in case of dissolution of firm. What is meant by Calls-in-Advance ? : Under what heading do you show the following in the Company's Balance Sheet ? a) Stock-in-Trade b) Provision for Income Tax. Mention any two methods of Depreciation, ‘What are Non-trading Coicerns ? What is Computerised Accounting ? Mention any two advantages of Computerised Accounting, SECTION -B Answer any three questions, each carrying six marks. 3x6=18 Rahul and Rohit are partner's having capitals of Rs. 60,000 and Rs. 40,000 as on 01.01.2007 respectively, They shared profits and losses in the ratio of 3: 2. At the end of the year 2007 their net profit is Rs. 40,000. According to Partnership Deed i] Interest on capital is at 5% pa ii) Rohit is allowed annuial commission of Rs. 10,000. [Turn overCode No, 30 10 12. 13, 14, 15. iii) Drawings during the year, Rahul withdrew Rs. 6,000 and Rohit Rs. 8,000 for personal use. Interest on the same being Rs. 400 and Rs, 600 respectively. iv) Rohit's annual salary is Rs. 6,000, Prepare Profit and Loss Appropriation Account, Ramesh, Suresh and Jagadeesh arc partners sharing profits & losses in the ratio of 4; 3: 2. Suresh retires from the firm, New profit sharing ratio of Ramesh and Jagadeesh is 5 : 3 respectively. Find out Gain Ratio of Ramesh and Jagadeesh. Ashok, Babu and Chandru were partners sharing profits and lossés in the ratio of 3; 2: | respectively. Their Capitals as on 01.01.2007 stood at Rs. 40,000, Rs. 50,000 and Rs. 60,000 respectively. On 31.3.2007 Babu died, The deceased. parter’s share in accrued profits up to the date of death is Rs, 6,000. The Goodwill of the deceased partner's share is Rs. 18,000. Babu’s salary is Rs. 1,000 p.m, His drawings up to the date of death amounted to Rs, 3,000. Prepare Babu's Capital Account. Bharat Cement Co. Ltd. issued 10000 Equity shares of Rs, 100 each payable as follows = On Application Rs. 20 On Allotment Rs. 30 On Call Rs. 50 All the shares were subscribed and the amount was duly received. Give the necessary journal entries in the books of the company. Briefly explain the types of files.1 Code No. 30 SECTION - C Answer any four from the following questions, cach carrying fourteen marks: 4% 1456 16. Mr, Vijay, @ retail trader kept his books of accounts under Single Entry System. The following information is available from his business records. Particulars 01.01.2006 31.12.2006 Rs. Rs, Cash in hand 5,000 10,000 Balance at Bank 6,000 8,000 Stock 20,000- 30,000 Debtors 30,000 42,000 Creditors 20,000 25,000 Bills Receivable 5,000 8,000 Bills Payable 3,000 5,000 Furniture 20,000 20,000 Machinery 50,000 50,000 Buildings 60,000 60,000 During the year he withdrew Rs. 500 per month and goods Rs. 12,000 from the business for his domestic use. He introduced Rs. 10,000 into the business on 30.6.2006. Adjustments ; i) Appreciate Buildings by 20% ii) Depreciate Furniture and Machinery at 10% p.a. each iii) Write off Bad debts Rs. 2,000 iv) Allow Interest on Capital at 10% per annum ¥) Outstanding Salary Rs. 1,000. Prepare: a) Statement of Affairs b) Statement of profit or loss ¢) Revised Statement of Affairs on 31.12.2006, [Tum overCode No. 30 12 17. Praveen and Kiran are partners sharing profits and losses in the ratio of 3: 2. Their Balance Sheet as on 31.12.2006 is as follows : Balance Sheet as on 31, 12, 2006 Liabilities Rs. Assets Rs. Creditors 20,000 | Cash at Bank 7,500 Bills Payable 22,500. | Stock 9,000 Reserve Fund 7,500 | Debtors © Rs. 20,000 Capitals Less: R.B.D. Rs._1,000 | 19,000 Praveen Rs. 30,000 Bills Receivable 3,500 Kiran. Rs. 20,000 50,000 | Furniture 5,000 ! Profit & Loss A/c. 15,000 | Machinery 17,500 : Buildings 46,000 4 Investment 7,500 1,415,000 1,15,000, On 01.01.2007, they admitted Madan for ith share in the future profit on the following terms : i) Madan should bring in Rs. 30,000 as Capital and Rs. 20,000 towards Goodwill ii) Goodwill is withdrawn by the old partners iii) Depreciate Furniture and Machinery by 10% each iv) Increase RBD by Rs. 2,000 ¥) Building is revalued at Rs. 60,000 yi) Outstanding Legal Expenses Rs. 450 to be provided. Prepare + a) Revaluation Account b) Partners’ Capital Accounts ©) Balance Sheet of the new firm.13 Code No, 30 Harish and Suresh are partners sharing profiis and losses equally, agreed to dissolve their partership on 31.12.2007. Their Balance Shect was as follows : Balance Sheet as on 31. 12. 2007 Liabilities Rs. Assets Rs. Creditors, 25,000 | Cash at Bank 10,000 Bills Payable 10,000 | Stock 18,000 Suresh’s loan 10,000 | Debtors Rs. 25,000 Reserve Fund 3,000 | Less: RB.D. Rs. 3,000 22,000 Capitats : Bill Receivable 5,000 Harish Rs. 40,000 Motor Car 10,000 Suresh Rs. 30,000 | 70,000 | Furniture 12,000 . Machinery 16,000 Buildings 23,000 Profit & Loss A/c. 4,000 1,20,000 1,20,000 ‘The assets realised as follows : i} Stock Rs. 25,000, Debtors Rs. 20,000, Bills Receivable Rs. 4,000, Motor Car Rs. 10,000, Furniture Rs. 8,000, Machinery Rs. 15,000 and Buildings Rs. 20,000 ii) - Creditors are taken over by Harish at Book value iii] Bills payable were paid by the firm at 5% discount iv) Realisation expenses amounted to Rs. 2,000. Prepare a) Realisation Account b) Partners’ Capital Accounts ¢} Bank Account. | Turn overCode No. 30 14 19 20. On 01.01.2003 a firm purchased Machinery costing Rs. 40,000. On 01.07.2005 it sold the machinery purchased on 01.01.2003 for Rs. 30,000 and on the same date a new Machinery was purchased for Rs, 20,000. Depreciation was charged annually @ 10% per annum on original cost method. Show the Machinery Account and Depreciation Account for four years. Given below is the Receipts and Payments Account of Union Sports Club for the year ended 31.12.2006, Receipts and Payments Account for the year ended 31.12.2006 Receipts Rs, Payments Rs. To Balance b/d By Printing 2,000 (01.01.2006) 6,000 | By Rent & Taxes 4,000 To Subscription 16,800 | By Salary 4,000 To Miscellaneous By Wages 2,000 Receipts 1,600 | By Upkeep of grounds 3,000 To Tournament fund 21,000 | By Sports Materials 15,000 To Sales of old/new papers 100 | By Balance c/d To Entrance Fees 6,000] (31.12.2006) 24,000 ‘To Drama proceeds 2,500 $4,000 $4,000 a} Balance Sheet as on 31.12.2008 Liabilities Rs. Assets Rs. ‘Subscription for 2006 1,000 | Cash 6,000 Capital Fund * 40,000 | Subscription outstanding 2,000 Furniture 20,000 Sports Materials “13,000 41,000 47,000oa 18 Code No. 30 Adjustments’: i] At the end of the year subscriptions were outstanding to the extent _ of Rs. 1,000 ii) Furniture is to be depreciated by 10% iii) Half of the entrance fees are to be capitalised. Prepare Income and Expenditure Account for the year ended on 31.12.2006 and a Balance Sheet on that date. From the following Trial Balance of Vijay Trading Co. Lid. & the adjustments given below, prepare Final Accounts of the company, Trial Balance as on 31.12.2006 Particulars Debit Credit Rs. Rs. Called up Capital = 1,20,000 Buildings : 40,000 = Reserve Fund - 70,000 Furniture 20,000 _ ‘Wages 10,000 Salaries 5,000, > Debtors and Creditors 60,000 80,000 Bills Receivable & Bills Payable 25,000 10,000 Interim Dividend 10,000 _ Audit fees. 7,000 = Freight 6,000 - Printing & Stationery 6,000 =— Purchases & Sales 120,000] —_1,80,000 Loose Tools 20,000 = Profit & Loss Appropriation A/c. = 10,000 Cash in hand 21,000 _ Calls-in-Arrears 10,000, _ Goodwill 40,000 =_ Investments, 40,000 = Opening Stock 30,000 = Returns 10,000 5,000 10% debentures = 5,000 Total [480,000 | 4,80,000 Adjustments 4) Closing stock was valued at Rs. 50,000 on 31.12.2006 jij Depreciate Furniture at 10% and Buildings at 5% iii) Provision for doubtful debts at 5% on Debtors are to be made iv) Transfer to General Reserve Rs, 5,000 ¥) Provide Interest on debentures for one year. [Turn overCode No. 30 16 23. 24. SECTION ~D ( Practical Oriented Questions } Answer any two of the following questions. Each question carries five marks : 2x5=10 Prepare an exccutor’s Loan Account with imaginary figures assuming that his account would be settled in two annual equal instalments along with interest. Prepare Profit and Loss Appropriation account of a company with 5 imaginary figures. Classify the following into Capital and Revenue items: a) b) a 4) 8) Cost of computer purchased by a college Repair to a lecture hall ‘ Interest on deposits Depreciation on Assets Sale proceeds of fixed assets.