Aarth's Academy of Commerce

2-C/53 NIT Faridabad, 9910355359

SAMPLE PAPER 5
Class 12 - Accountancy
Time Allowed: 3 hours Maximum Marks: 80

General Instructions:

1. This question paper contains 34 questions. All questions are compulsory.

2. This question paper is divided into two parts, Part A and B.

3. Part - A is compulsory for all candidates.

4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students

must attempt only one of the given options.

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5. Question 1 to 16 and 27 to 30 carries 1 mark each.

6. Questions 17 to 20, 31and 32 carries 3 marks each.

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7. Questions from 21 ,22 and 33 carries 4 marks each

8. Questions from 23 to 26 and 34 carries 6 marks each

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9. There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2 questions

of three marks, 1 question of four marks and 2 questions of six marks.

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Part A:- Accounting for Partnership Firms and Companies

1. A and B are partners sharing profits in the ratio of 2 : 1. C was admitted for 1

4
share of profits of which 2

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was [1]
gifted by A. The remaining was contributed by B. Goodwill of the firm is valued at ₹ 60,000. How much amount
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for goodwill will be Credited to B’s Capital Account?

a) ₹ 15,000 b) ₹ 60,000

c) ₹ 10,000 d) ₹ 5,000
2. Assertion (A): Interest on capital amount to ₹ 15,000 was shown on the credit side of the Profit and Loss [1]
Adjustment Account.
Reason (R): Interest on Capital is to be credited to the Capital/Current Accounts of the Partner.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

3. Pawan Ltd. Issued 20,000 Equity shares @ 10 each payable as follows; [1]
On application 4; On allotment 1; on first call 2; and balance on final call
All the shares were subscribed by the public and allotted by the company on time. All money due was received
but one shareholder Pawan to whom 2000 share allotted failed to pay the first call. His shares were forfeited
immediately after the 1st call. Final call was not made till now. Share Capital Account (at the time forfeiture) is
to be debited with:

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Aarth's Academy of Commerce, 9910355359
 a) 20,000 b) 8000

c) 10000 d) 14000
OR
Which of the following is correct with respect to debentures?

a) They can be issued partly on credit and b) They cannot be issued as collateral security.
partly in cash.

c) They can be issued for consideration other d) They can be issued on credit.
than cash.
4. X and Y are partners sharing profits and losses in the ratio of 3 : 2. With effect from 1st January 2020 they [1]
agreed to share future profits equally. The goodwill of the firm was valued at ₹ 30,000. How much amount is
debited or credited to X?

a) Credit X's Capital Account by ₹ 2,000 b) Credit X's Capital Account by ₹ 3,000

c) Debit X ’s Capital Account by ₹ 3,000 d) Debit X's Capital Account by ₹ 2,000

OR

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Show the distribution of Profit or loss between X and Y in their ratio 3 : 5:

Net Profit 80,000

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Partners salary 60,000

Interest on capital (all partners) 20,000

35

Interest on drawings 800

Profit/loss distributed among the partners:

10

a) Profit to X ₹ 240 and Y ₹ 560 b) Profit to X ₹ 300 and Y ₹ 500

c) Profit to X ₹ 500 and Y ₹ 300 d) Profit to X ₹ 400 and Y ₹ 400

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5. In the absence of Partnership Deed, the interest is allowed on partner’s capital: [1]

a) No interest on capital is allowed b) @ 10% p.a.

c) @ 6% p.a. d) @ 12% p.a.

6. Securities Premium received on issue of debentures is a [1]

a) Fixed Asset b) Capital Profit

c) Capital Loss d) Current Asset

OR
The Principal amount of debentures will be repaid by the company either at the end of a specified period or by
instalments during the life time of the company. Such types of debentures are called:

a) Bearer Debentures b) Irredeemable Debentures

c) Redeemable Debenture d) Convertible Debentures

7. Assertion (A): The security premium amount can be used to issue partially paid up bonus shares. [1]
Reason (R): According to Section 52(2) of the Companies Act, 2013, the amount of Securities Premium
Reserve can be used only for some specific purposes.

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 a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

8. On the death of a partner, his share in the profits of the firm till the date of his death is transferred to the: [1]

a) Debit of Profit & Loss Account b) Debit of Profit & Loss Suspense Account

c) Credit of Profit & Loss Suspense Account d) Credit of Profit & Loss Account
OR
P and Q are partners sharing profits in the ratio of 1 : 2. R was manager who received the salary of ₹ 10,000 p.m. in
addition to commission of 10% on net profits after charging such commission. Total remuneration to R amounted to
₹ 1,80,000. Profit for the year before charging salary and commission was:

a) ₹ 6,00,000 b) ₹ 7,80,000

c) ₹ 7,20,000 d) ₹ 6,60,000

Question No. 9 to 10 are based on the given text. Read the text carefully and answer the questions: [2]
Vinod and Mohit are partners in a firm. On 1st April, 2020, their capitals were ₹ 4,00,000 and ₹ 6,00,000. The profit for

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2020-21 was ₹ 5,24,000. Partnership Deed provided that interest on drawings/capital to be calculated @ 10%, Mohit
had withdrawn ₹ 1,00,000 on 31st December, 2020. In addition to it, rent (in case of any partner providing his premises
for business) for premises decided to be ₹ 8,000 per month. Due to lockdown during pandemic, the partners decided to
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shut down the factory and shifted to Vinod’s farmhouse on 1st August, 2020.
9. What amount is to be transferred to Profit and Loss Appropriation Account?
35

a) ₹ 5,24,000 b) ₹ 4,88,000

c) ₹ 4,60,000 d) ₹ 5,00,000
10

10. What is the interest on drawings of Mohit?

a) ₹ 10,000 b) ₹ 3,000
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c) ₹ 2,500 d) ₹ 7,500
11. X, Y and Z are partners. On 1st April 2020 their capitals are ₹ 2,50,000; 1,50,000 and ₹ 2,00,000 respectively. [1]
On 1st October 2020 they decided that their capitals should be ₹ 2,00,000 each. The necessary adjustments in the
capitals were made. As per the partnership deed interest on capital is allowed to all the partners. Z got interest on
his capital ₹ 16,000.
How much interest on capital is to be allowed to X?

a) 18,000 b) 16,000

c) 20,000 d) 22,000
12. Mohan Ltd. invited applications for issuing 1,00,000 equity shares of ₹ 50 each at a premium of ₹ 10 per share. [1]
The amount was payable as follows:
On Application : ₹ 15 per share (including ₹ 4 premium)
On Allotment : ₹ 10 per share (including ₹ 2 premium)
On First Call : ₹ 20 per share (including ₹ 3 premium)
On Second and Final Call : Balance Amount
Ganesh, a shareholder holding 400 shares, did not pay the allotment and first call money and his shares were

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 forfeited after first call.
Share Forfeiture Account will be Credited by:

a) ₹ 4,400 b) ₹ 1,600

c) ₹ 6,000 d) ₹ 12,000
13. Mane Ltd invited application for 10,000 Equity Shares of ₹ 10 each. Applications were received for 15,000 [1]
shares and prorate allotment was made to all the applicants. If Girish (one shareholder) was allotted 80 shares,
find the shares applied by him.

a) 120 b) 80

c) 100 d) 150
14. Journal Entry to be passed in case of loss on adjustment transferred to Partner's Current Accounts is: [1]

a) Partner's Current A/c Dr. b) Partners' Current A/c Dr.

To Profit and loss A/c To Profit and Loss Adjustment A/c

c) Profit and Loss Appropriation A/c Dr. d) Partner's Current A/c Dr.
To Partners' To Partner's Capital A/c

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15. Why did new partner need to bring goodwill? [1]
A. To compensate the sacrificing partners
B. To compensate the old partners for their gain share
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C. For Revaluation Account

a) (A) b) Both (A) and (B)

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c) (C) d) (B)
OR
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A and B are partners in a firm sharing profits in the ratio of 2 : 1. C is admitted as a partner. A and B surrender of
1

their respective share in favour of C. C is to bring his share of premium for goodwill in cash. The goodwill of the
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firm is estimated at ₹ 60,000. Credit will be given to:

a) A ₹ 40,000; B ₹ 20,000 b) A ₹ 15,000; B ₹ 15,000

c) A ₹ 30,000; B ₹ 30,000 d) A ₹ 20,000; B ₹ 10,000

16. What journal entry will take place when a loan of partner ₹60,000 is paid at the time of dissolution? [1]

a) Cash/Bank A/c Dr b) Realisation A/c Dr.

To Realisation A/c To Cash/Bank A/c

c) Partner’s Loan A/c Dr. d) Partner’s Capital A/c Dr.

To Cash/Bank A/c To Cash/Bank A/c
17. X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They decide to share future profits and [3]
losses in the ratio of 2 : 3 : 5 with effect from 1st April, 2023. Following
is the extract of their Balance Sheet as at 31st March, 2023:

₹ ₹

General Reserve 75,000 Advertisement Suspense A/c (Dr.) 50,000

Profit & Loss A/c 37,500

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 Workmen Compensation Reserve 12,500

Pass necessary journal entries.

18. The following differences have arisen among A, B and C. Give your decision regarding the same:- [3]
i. A used ₹ 1,00,000 belonging to the firm and made a profit of ₹ 75,000 in speculation. B and C want that A
should return ₹ 1,75,000 to the firm, while A wants to return ₹ 1,00,000 only.
ii. A used ₹ 50,000 belonging to the firm and suffered a loss of ₹ 20,000 in speculation. He wants to return only
₹ 30,000.
iii. A and B want to admit Ravi as a new partner, but C does not agree.
iv. A and B want to purchase goods from Rohit for the firm but C does not agree.
OR
Raja and Ram are partners sharing profit in the ratio of 3 : 2. Their Capital Accounts showed a credit balance of ₹

5,00,000 and ₹ 6,00,000 respectively as on 31st March, 2023 after debit of drawings during the year of ₹ 1,50,000
and ₹ 1,00,000 respectively. Net profit for the year ended 31st March, 2023 was ₹ 5,00,000. Interest on capital is to be
allowed @ 10% p.a.
Pass the Journal entry for interest on capital and prepare Profit and Loss Appropriation Account.
19. X Ltd. took over assets of ₹ 5,00,000 and liabilities of ₹ 1,00,000 of another company at an agreed price of ₹ [3]

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3,80,000. The purchase consideration was discharged by issuing debentures of ₹ 100 each at a discount of 10%.
It was agreed that any fraction of the debenture be paid in cash. Give journal entries in the books of X Ltd.Ignore
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writing off discount on issue of debentures
OR
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Jyoti Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5
(including premium) on allotment and the balance on first and final call. Applications were received for 82,000
shares. Allotment of shares was made as follows:
10

Applicants of 30,000 shares 20,000 shares

Applicants of 50,000 shares 40,000 share

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Applicants of 2,000 share Nil.

Rajendra, who had applied for 900 shares in Category (a) and Sameer, who was allotted 600 shares in Category (b)
failed to pay the allotment money. Calculate amount received on allotment.
20. The capital of the firm of Anu and Bhanu is ₹ 10,00,000 and the market rate of interest is 15%. Annual salary to [3]
the partners is ₹ 60,000 each. The profit for the last three years were ₹ 3,00,000, ₹ 3,60,000 and ₹ 4,20,000.
Goodwill of the firm is to be valued on the basis of two years' purchase of last three years average super profit.
Calculate the goodwill of the firm.
21. What is securities premium reserve? State any three purposes for which securities premium reserve can be used. [4]

22. Ravi, Kavi and Chand were partners sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2022, their Balance [4]

Sheet was as follows:

Balance Sheet of Ravi, Kavi and Chand as on 31st March, 2022

Liabilities Amount (₹) Assets Amount (₹)

Sundry Creditors 70,000 Land and Building 3,50,000

Chand's Loan 20,000 Stock 3,00,000

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 Mrs. Chand's Loan 20,000 Debtors 2,00,000

Capitals: Less provision 10,000 1,90,000

Ravi 4,00,000 Cash 70,000

Kavi 3,00,000

Chand 1,00,000 8,00,000

9,10,000 9,10,000

The firm was dissolved on the above date.

i. Land and Building and Stock were sold for ₹ 6,00,000. Debtors were realised at 10% less than the book
value.
ii. Mrs. Chand's loan was settled by giving her a computer of ₹ 22,000 not recorded in the books.
iii. Ravi paid off one of the creditors ₹ 20,000 in settlement of his amount of ₹ 30,000.
iv. Remaining creditors were paid in cash.
Prepare Realisation Account.
23. Manju Ltd. invited applications for issuing 90,000 equity shares of ₹ 100 each at a premium of ₹ 60 per share. [6]

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The amount was payable as follows:
On Application - ₹ 30 per share (including premium ₹ 10)
On Allotment - ₹ 70 per share (including premium ₹ 50)
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On First and Final Call - Balance amount
Applications for 1,00,000 shares were received. Shares were allotted on pro rata basis to all the applicants.
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Excess money received with application was adjusted towards sums due on allotment. Suman, a shareholder
holding 4,500 shares, failed to pay the allotment money. Her shares were forfeited immediately after allotment.
Afterwards the first and final call was made. Rahul, a holder of 3,600 shares, failed to pay the first and final call.
10

His shares were also forfeited. All the forfeited shares were reissued for ₹ 90 per share fully paid-up.
Pass necessary journal entries and prepare Cash Book for the above transactions in the books of Manju Ltd.
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OR
Dulex Paints Ltd. invited applications for issuing 1,60,000 equity shares of ₹ 10 each at a premium of ₹ 3 per share.
The amount was payable as follows:

On Application ₹ 6 per share (including premium ₹1);

On Allotment ₹ 3 per share (including premium ₹ 1); and

The balance on First and Final call.

Applications for 1,80,000 shares were received. Applications for 10,000 shares were rejected and pro-rata allotment
was made to the remaining applicants. Over payment received on application were adjusted towards sums due on
allotment. All calls were made and were duly received except allotment and final call from Ajay who was allotted
3,200 shares. His shares were forfeited. Half of the forfeited shares were reissued for ₹ 43,000 as fully paid-up. Pass
necessary Journal entries for the above transactions in the books of Dulex Paints Ltd.
24. X and Y were partners in a firm sharing profits in 5 : 3 ratio. They admitted Z as a new partner for 1/3rd share in [6]
the profits. Z was to contribute ₹20,000 as his capital. The Balance Sheet of X and Y as at 1-4-2018 the date of
Z’s admission was as follows:

Liabilites ₹ Assets ₹

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 Creditors 27,000 Land and Building 25,000

Capital: Plant and Machinery 30,000

X 50,000 Stock 15,000

Y 35,000 85,000 Debtors 20,000

General Reserve 16,000 Less: Provision for doubtful debts 1,500 18,500

Investment 20,000

Cash 19,500

1,28,000 1,28,000

Other terms agreed upon were :

i. Goodwill of the firm was valued at ₹12,000.
ii. Land and Building were to be valued at ₹35,000 and Plant and Machinery at ₹25,000.
iii. The provision for doubtful debts was found to be in excess by ₹400.
iv. A liability for ₹1,000 included in creditors was not likely to arise.
v. The capitals of the partners be adjusted on the basis of Z’s contribution of capital in the firm.

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vi. Excess or shortfall if any to be transferred to current accounts.
Prepare Revaluation Account, Partner’s Capital Accounts and the Balance Sheet of the new firm.
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OR
X, Y, and Z were partners sharing profits in the ratio 3: 2: 1. On 31st March 2008, their Balance Sheet stood as under
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:

Liabilities Amt(Rs.) Assets Amt(Rs.)

10

Capitals: Cash at Bank 70,000

X 75,000 Investments 50,000

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Y 70,000 Patents 15,000

Z 50,000 1,95,000 Stock 25,000

Creditors 72,000 Debtors 20,000

General Reserve 24,000 Buildings 75,000

Machinery 36,000

2,91,000 2,91,000

Z died on May 31st, 2008. It was agreed that

a. Goodwill was valued at 3 years’ purchase of the average profits of the last five years, which were 2003: Rs.
40,000; 2004: Rs. 40,000; 2005: Rs. 30,000; 2006: Rs. 40,000 and 2007: Rs. 50,000.
b. Machinery was valued at Rs. 70,000, Patents at Rs. 20,000 and Buildings at Rs. 66,000.
c. For the purpose of calculating Z’s share of profits until the date of death, it was agreed that the same be calculated
based on the average profits for the last 2 years.
d. The executor of the deceased partner is to be paid the entire amount due by means of a cheque.

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 Prepare Z’s Capital Accounts to be rendered to the executor and also a journal entry for the settlement of the amount
due to Z’s executor.
25. A, B and C are partners sharing profits and losses in the ratio of . Following is their Balance Sheet as [6]
3 2 1
: :
6 6 6

at 31st March, 2023:

Liabilities ₹ Assets ₹

Creditors 52,000 Plant 2,50,000

Outstanding Expenses 10,000 Stock 1,50,000

Capitals: Debtors 80,000

A 2,00,000 Bank 70,000

B 1,60,000 Profit & Loss A/c 12,000

C 1,40,000 5,00,000

5,62,000 5,62,000

B retires on 1st April, 2023 and the following terms were agreed:

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i. The Goodwill of the firm has been valued at ₹ 1,50,000.
ii. Plant and Machinery has been revalued at ₹ 3,00,000 and stock revalued at ₹ 1,20,000.
iii. A sum of ₹ 30,000 out of debtors was agreed to be bad and was to be written off.
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iv. Liability for workmen’s compensation to the extent of ₹ 8,000 is to be brought into the books.
v. A and C will continue to carry on the business and shall share profits and losses equally in future.
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vi. Amount payable to B shall remain in the business as loan carrying interest at 18% p.a.
You are required to:
10

a. give journal entries to give effect to the above, and

b. prepare the opening balance sheet of A and B at 1st April, 2023.
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26. Fashion Ltd. has paid-up share capital of ₹ 1,00,00,000 (divided into 5,00,000 Equity Shares of ₹ 20 each) and [6]
10,000, 7% Debentures of ₹ 200 each. On 1st July, 2022, it further issued 7% Debentures at a premium of 10%
redeemable at 25% premium to meet the long-term funds requirement of ₹ 1,65,00,000. The issue price was
payable along with application. Balance in Securities Premium Account after the issue of debentures is ₹
25,00,000. Loss for the year ended 31st March, 2023 is ₹ 10,00,000.
You are required to:
i. Pass Journal entries for issue of Debentures.
ii. Prepare Loss on Issue of Debentures Account.
iii. Pass Journal entries for interest on debentures, if interest is payable on 30th September and 31st March each
year.
Part B :- Analysis of Financial Statements
27. Which of these are limitation of Financial statements: [1]

a) Measuring of solvency b) Measuring of earning capacity or

profitability

c) Measuring of financial strength d) Static statements

OR

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 Interest accrued on investments appear in a company’s balance sheet under the sub-head:

a) Non-current Investments b) Current Investments

c) Other Non-current Assets d) Other Current Assets

28. Total Debt ₹ 7,00,000; Share Capital ₹ 15,00,000; Reserve and Surplus ₹ 10,00,000; Current Liabilities ₹ [1]
5,00,000; Working Capital ₹ 7,00,000. Total asset to debt ratio will be:

a) 1 : 16 b) 1.28 : 1

c) 0.78 : 1 d) 16 : 1
29. If a machine whose original cost is ₹ 40,000 having accumulated depreciation ₹ 12,000, were sold for ₹ 34,000 [1]
then while preparing Cash Flow Statement its effect on cash flow will be:

a) Cash flow from investing activities ₹ 34,000 b) Cash flow from financing activities ₹
34,000

c) Cash flow from investing activities ₹ 6,000 d) Cash flow from financing activities ₹ 6,000
OR
Z Ltd. purchased a building for ₹ 50,00,000 from J. Ltd. paying 40% by the issue of 9% Debentures and the balance

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by cheque. The above transaction will result in:

a) Decrease in cash and cash equivalents ₹ b) Cash used in investing activities ₹

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20,00,000. 30,00,000.

c) Cash used in investing activities ₹ d) Cash generated from financing activities ₹

20,00,000. 20,00,000.
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30. While calculating operating profit which will be added to net profit: [1]

a) Depreciation b) Preliminary Expenses Written off

10

c) Loss on Sale of Asset d) All of these

31. Under which line item of the financial statements following items will be shown: [3]
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i. Sales;
ii. Loss on Sale of Vehicle;
iii. Debentures;
iv. Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet);
v. Encashable Leave Payable at the Time of Retirement;
vi. Tax Reserve;
vii. Carriage on Purchases of Stock-in-Trade; and
viii. Telephone and Internet Expenses?
32. The Current Ratio of a Company is 0.8 : 1. State giving reasons which of the following transactions would (i) [3]
Improve; (ii) Reduce; Not change; the Current Ratio:
a. Payment of Outstanding Liabilities.
b. Purchase of goods on Credit.
c. Sale of furniture costing ₹ 10,000 at a loss of ₹ 2,000.
d. Sale of goods costing ₹ 15,000 at a profit of ₹ 1,000.
e. Payment of dividend payable.
33. Prepare a Common Size Balance Sheet of X Ltd. from the following information: [4]

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 31.3.2023 31.3.2022

Current Assets 28.80 22.80

Non-Current Investments 1.80 1.20

Property, Plant and Equipment and Intangible Assets 41.40 36.00

Share Capital 30.00 30.00

Reserves & Surplus 12.00 7.20

Non-Current Liabilities 12.60 12.00

Current Liabilities 17.40 10.80

OR
From the following Statement of Profit and Loss of Raman Ltd, prepare a Comparative Statement of Profit and Loss
for the year ended 31st March, 2022:

2021 - 22 2020 - 21
Particulars Note No.
₹ ₹

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Revenue from Operations 26,00,000 20,00,000

Employee Benefit Expenses 6,00,000 5,00,000

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Other Expenses 12,00,000 10,00,000

Tax Rate 50%

35

34. Read the following hypothetical text and answer the given question on this basis: [6]
Azad, inspired by Make-in-India mission, initiated his start-up in the form of a company Azad Ltd. along with
10

six other promoters in 2016. The company has been earning good revenue consistently. The financial position of
Azad Ltd. as at 31st March, 2022 was as follows:
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Balance Sheet of Azad Ltd. as at 31st March, 2022

Note 31.3.2022 31.3.2021

Particulars
No. ₹ ₹

I - Equity and Liabilities:

1. Shareholders' Funds

(a) Share Capital 19,00,000 17,00,000

(b) Reserves and Surplus 1 6,00,000 3,00,000

2. Non-Current Liabilities

Long-term Borrowings 2 5,00,000 4,00,000

3. Current Liabilities

(a) Short-term Borrowings 3 1,70,000 1,75,000

(b) Short-term Provisions 4 2,00,000 1,65,000

Total 33,70,000 27,40,000

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II Assets:

1. Non-Current Assets

(a) Fixed Assets

(i) Tangible Assets 5 24,00,000 19,00,000

(ii) Intangible Assets 6 4,00,000 3,00,000

(b) Non-current Investments 1,00,000 2,00,000

2. Current Assets

(a) Current Investments 1,40,000 1,70,000

(b) Inventories 2,60,000 1,30,000

(c) Cash and Cash Equivalents 70,000 40,000

Total 33,70,000 27,40,000

Notes to Accounts:

31.3.2022 31.3.2021

59
Note No.
₹ ₹

Reserves and Surplus

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(1) 6,00,000 3,00,000
(Surplus i.e. Balance in Statement of Profit and Loss)

(2) Long-term Borrowings

35

12% Debentures 5,00,000 4,00,000

(3) Short-term Borrowings

10

Bank Overdraft 1,70,000 1,75,000

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(4) Short-term Provisions

Provision for Tax 2,00,000 1,65,000

(5) Tangible Assets

Machinery 26,00,000 20,00,000

Less Accumulated Depreciation (2,00,000) (1,00,000)

24,00,000 19,00,000

(6) Intangible Assets Goodwill 4,00,000 3,00,000

Additional Information:

i. ₹ 1,00,000, 12% Debentures were issued on 1st April, 2021.

ii. A piece of machinery costing ₹ 80,000 on which accumulated depreciation was ₹ 40,000, was sold at a gain
of ₹ 10,000.
Calculate cash flows from Investing Activities and Financing Activities.

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