Series EF1GH/3 SET~2

Q.P. Code 67/3/2

Roll No. narjmWu àíZ-nÌ H$moS> >H$mo CÎma-nwpñVH$m Ho$
_wI-n¥ð >na Adí` {bIo§ &
Candidates must write the Q.P. Code on
the title page of the answer-book.

boImemñÌ
ACCOUNTANCY
*
:3 : 80
Time allowed : 3 hours Maximum Marks : 80

ZmoQ> / NOTE :
(i) - 39
Please check that this question paper contains 39 printed pages.
(ii) - - -
-
Q.P. Code given on the right hand side of the question paper should be written on the title
page of the answer-book by the candidate.
(iii) - 34
Please check that this question paper contains 34 questions.
(iv) -

Please write down the serial number of the question in the answer-book before attempting
it.
(v) - 15 -
10.15 10.15 10.30 -
-
15 minute time has been allotted to read this question paper. The question paper will be
distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the
question paper only and will not write any answer on the answer-book during this period.

67/3/2 JJJJ Page 1 P.T.O.

 :
:
(i) 34
(ii)
(iii)
(iv) (1) (2)

(v) 1 16 27 30
(vi) 17 20, 31 32
(vii) 21, 22 33
(viii) 23 26 34
(ix) 7
2 1 2

^mJ> H$
(gmPoXmar \$_m] VWm H$ån{Z`m| Ho$ {bE boIm§H$Z)
1. (i) < 10 Ho$ EH$ A§e, {Ogo < 2 à{V A§e A{Y_yë` na {ZJ©{_V {H$`m J`m h¡, {Og
na < 8 à{V A§e (àr{_`_ g{hV) _m±J {bE JE h¢ VWm
< 6 à{V A§e (àr{_`_ g{hV) àmá H$a {bE JE h¢, H$m haU H$a {b`m & A§e
n±yOr ImVo Ho$ Zm_ nj _| IVm¡Zr H$s OmEJr : 1
(a) < 10 (b) <8
(c) < 12 (d) <6
AWdm
(ii) < 100 Ho$ EH$ A§e H$m, {Og na < 70 àmá H$a {bE JE h¢, < 30 H$s A§{V_
`mMZm H$m ^wJVmZ Z H$aZo Ho$ H$maU, haU H$a {b`m & dh Ý`yZV_ am{e {Og na
Bg A§e H$mo nwZ{Z©J©{_V {H$`m Om gH$Vm h¡, h¡ : 1
(a) < 70 (b) < 30
(c) < 100 (d) < 130

67/3/2 JJJJ Page 2

General Instructions :
Read the following instructions very carefully and strictly follow them :
(i) This question paper contains 34 questions. All questions are compulsory.
(ii) This question paper is divided into two parts Part A and Part B.
(iii) Part A is compulsory for all candidates.
(iv) Part B has two options i.e. (1) Analysis of Financial Statements, and
(2) Computerised Accounting. Candidates must attempt only one of the given
options as per the subject opted in Part B.
(v) Questions no. 1 to 16 and 27 to 30 carry 1 mark each.
(vi) Questions no. 17 to 20, 31 and 32 carry 3 marks each.
(vii) Questions no. 21, 22 and 33 carry 4 marks each.
(viii) Questions no. 23 to 26 and 34 carry 6 marks each.
(ix) 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.

PART A
(Accounting for Partnership Firms and Companies)

1. (i) A share of < 10 issued at a premium of < 2 per share on which < 8
per share (including premium) have been called and < 6 per share
(including premium) is received, is forfeited. Share Capital
Account will be debited by : 1
(a) < 10 (b) <8
(c) < 12 (d) <6
OR

(ii) A share of < 100 on which < 70 has been received is forfeited for
non-payment of final call of < 30. The minimum price at which
this share can be re-issued is : 1
(a) < 70 (b) < 30
(c) < 100 (d) < 130

67/3/2 JJJJ Page 3 P.T.O.

2. (A) : gmPoXmam| Ho$ G$U na ã`mO H$s IVm¡Zr bm^ -hm{Z ImVo Ho$ Zm_ nj _| H$s
OmVr h¡ &
(R) : gmPoXmam| Ho$ G$U na ã`mO bm^ Ho$ {déÕ à^ma h¡ &
Cn`w©º$ A{^H$WZ (A) VWm H$maU (R) Ho$ AmYma na {ZåZ{b{IV _| go ghr {dH$ën H$m
M`Z H$s{OE : 1
(a) A{^H$WZ (A) ghr h¡ VWm H$maU (R) µJbV h¡ &
(b) A{^H$WZ (A) µJbV h¡ VWm H$maU (R) ghr h¡ &
(c) XmoZm| A{^H$WZ (A) VWm H$maU (R) ghr h¢ &
(d) XmoZm| A{^H$WZ (A) VWm H$maU (R) µJbV h¢ &
3. Jmonmb, H¥$îUm VWm JmoqdX gmPoXma h¢ VWm 5 : 4 : 3 Ho$ AZwnmV _| bm^-hm{Z ~m±Q>Vo h¢ &
1 Aà¡b, 2022 H$mo H¥$îUm godm{Zd¥Îm hmo J`m & Jmonmb VWm JmoqdX Zo Cgo < 1,20,000 H$m
^wJVmZ H$aHo$ bm^ _| CgHo$ ^mJ H$m H«$` H$a {b`m & < 80,000 H$m ^wJVmZ Jmonmb VWm
< 40,000 H$m ^wJVmZ Jmo{d§X Zo {H$`m & A{Ybm^ AZwnmV hmoJm : 1
(a) 5:3 (b) 4:3
(c) 1:1 (d) 2:1

4. (i) Ho$ed VWm H$aU EH$ \$_© _| gmPoXma Wo VWm bm^m| H$m {d^mOZ ~am~a-~am~a
H$a aho Wo & \$_© Ho$ Am¡gV bm^m| H$m n±yOrH¥$V _yë` < 18,00,000 Wm & \$_© H$s
n[agån{Îm`m± (»`m{V H$mo < 20,00,000 VWm Xo`VmE± < 5,00,000 Wt &
Am¡gV bm^m| Ho$ ny±OrH$aU {d{Y Ûmam \$_© H$s »`m{V H$m _yë` hmoJm : 1
(a) < 2,00,000 (b) < 3,00,000
(c) < 4,00,000 (d) < 3,50,000
AWdm
(ii) H$ VWm I EH$ \$_© _| gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _| bm^-hm{Z ~m±Q>Vo Wo &
1 Aà¡b, 2021 H$mo CZHo$ ny±Or ImVm| _| H«$_e: < 1,50,000 VWm < 2,00,000
Ho$ eof Wo & gmPoXmar g§boI _| gmPoXmam| H$s n±yOr na 10% dm{f©H$ Xa go ã`mO H$m
àmdYmZ Wm & 31 _mM©, 2022 H$mo g_má hþE df© _| \$_© H$mo < 10,000 H$s hm{Z
hþB© & H$ H$s ny±Or na ã`mO hmoJm : 1
(a) < 15,000 (b) < 9,000
(c) eyÝ` (d) < 6,000
67/3/2 JJJJ Page 4
2. Assertion (A) : Interest on p
Account.
Reason (R) : Interest on p
On the basis of the above Assertion (A) and Reason (R), choose the correct
option from the following : 1
(a) Assertion (A) is correct and Reason (R) is wrong.
(b) Assertion (A) is wrong and Reason (R) is correct.
(c) Both Assertion (A) and Reason (R) are correct.
(d) Both Assertion (A) and Reason (R) are wrong.

3. Gopal, Krishna and Govind are partners sharing profits and losses in the
ratio of 5 : 4 : 3. Krishna retired on 1st April, 2022. Gopal and Govind
purchased her share of profit by giving her < 1,20,000, < 80,000 being
paid by Gopal and < 40,000 by Govind. The gaining ratio will be : 1
(a) 5:3 (b) 4:3
(c) 1:1 (d) 2:1

4. (i) Keshav and Karan were partners in a firm sharing profits equally.
The capitalised value of average profits of the firm was
< 18,00,000. Assets of the firm were < 20,00,000 (excluding
goodwill) and Liabilities were < 5,00,000. The value of goodwill of
the firm by capitalisation of average profits method will be : 1
(a) < 2,00,000 (b) < 3,00,000
(c) < 4,00,000 (d) < 3,50,000
OR
(ii) A and B were partners in a firm sharing profits and losses in
the ratio of 3 : 2. On 1st April, 2021 the balances in their capital
accounts were < 1,50,000 and < 2,00,000 respectively. The
partnership deed provided that interest on partners capital will be
allowed @ 10% per annum. During the year ended 31st March,
2022, the firm incurred a loss of <
will be : 1
(a) < 15,000 (b) < 9,000
(c) Nil (d) < 6,000
67/3/2 JJJJ Page 5 P.T.O.
5. (i) _________ gmPoXmam| Ho$ _Ü` gmPoXmar ì`dgm` H$mo MbmZo H$m AmYma h¡ & 1
(a) àñVmd (b) AZw~§Y
(c) g_P (d) ñdrH$m`©Vm
AWdm
(ii) {dÚ_mZ gmPoXmam| Ho$ ~rM bm^ {d^mOZ AZwnmV _| n[adV©Z Ho$ g_` gmPoXmam| Ho$
n±yOr ImVm| _| g§M`m| H$mo {ZåZ{b{IV AZwnmV _| hñVmÝV[aV {H$`m OmVm h¡ : 1
(a) Ë`mJ AZwnmV
(b) A{Ybm^ AZwnmV
(c) nwamZm bm^ {d^mOZ AZwnmV
(d) Z`m bm^ {d^mOZ AZwnmV

6. (i) gZ~r_ {b{_Q>oS> Zo < 100 àË`oH$ Ho$ 20,000, 11% G$UnÌm| H$m {ZJ©_Z
10% àr{_`_ na {H$`m, {OZH$m emoYZ 5% àr{_`_ na {H$`m OmZm h¡ & G$UnÌm|
Ho$ {ZJ©_Z na hm{Z ImVo Ho$ Zm_ nj _| IVm¡Zr H$s OmEJr : 1
(a) < 3,00,000
(b) < 2,00,000
(c) < 1,00,000
(d) < 22,00,000
AWdm
(ii) Za{Jg {b{_Q>oS> Zo Jm¡ar {b{_Q>oS> go < 8,00,000 H$s n[agån{Îm`m| H$m H«$` {H$`m
VWm < 2,00,000 H$s Xo`VmE± bt & ^wJVmZ < 100 àË`oH$ Ho$ 8% G$UnÌm| H$mo
20% A{Y_yë` na {ZJ©_Z H$aHo$ {H$`m OmEJm & {ZJ©{_V {H$E OmZo dmbo G$UnÌm|
H$s g§»`m hmoJr : 1
(a) 50,000
(b) 5,000
(c) 6,000
(d) 6,00,000

67/3/2 JJJJ Page 6

5. (i) _______ is the basis of relationship between the partners to run the
partnership business. 1
(a) Offer (b) Agreement
(c) Understanding (d) Acceptance

OR

(ii) At the time of change in profit sharing ratio among existing

partners, Reserves are transferred to Partners
in the following ratio : 1
(a) Sacrificing ratio
(b) Gaining ratio
(c) Old profit sharing ratio
(d) New profit sharing ratio

6. (i) Sunbeam Ltd. issued 20,000, 11% debentures of < 100 each at a
premium of 10%, redeemable at a premium of 5%. The Loss on
Issue of Debentures Account will debited by : 1
(a) < 3,00,000
(b) < 2,00,000
(c) < 1,00,000
(d) < 22,00,000
OR

(ii) Nargis Ltd. purchased assets of < 8,00,000 and took over liabilities
of < 2,00,000 from Gauri Ltd. The payment was made by issue of
8% Debentures of < 100 each at a premium of 20%. Number of
debentures issued will be : 1
(a) 50,000
(b) 5,000
(c) 6,000
(d) 6,00,000

67/3/2 JJJJ Page 7 P.T.O.

7. (i) _hH$ VWm adre EH$ \$_© _| gmPoXma Wo & \$_© Ho$ {dKQ>Z Ho$ g_` _hH$ Ûmam \$_©
H$mo {X`m J`m G$U < 30,000 Wm, adre Ûmam {X`m J`m G$U < 15,000 Wm VWm
lr_{V adre Ûmam {X`m J`m G$U < 10,000 Wm & gd©àW_ ^wJVmZ {H$`m OmEJm : 1
(a) adre Ho$ G$U H$m
(b) _hH$ Ho$ G$U H$m
(c) lr_{V adre Ho$ G$U H$m
(d) _hH$ Ho$ G$U VWm adre Ho$ G$U H$m CZH$s G$U am{e Ho$ AZwnmV _|
AWdm
(ii) gwa{^ VWm brZm EH$ \$_© _| gmPoXma Wo VWm 5 : 3 Ho$ AZwnmV _| bm^-hm{Z H$m
{d^mOZ H$aVo Wo & Amer H$mo \$_© Ho$ bm^m| _| 1 ^mJ Ho$ {bE EH$ ZE gmPoXma Ho$
4
ê$n _| àdoe {X`m J`m & Amer Zo AnZo ^mJ H$m 3 ^mJ gwa{^ go J«hU {H$`m &
5
{ZåZ{b{IV _| go Amer Zo {H$VZm ^mJ brZm go J«hU {H$`m : 1

1 3
(a) (b)
10 20
2 3
(c) (d)
5 8

8. gZ~r_ {b{_Q>oS> Zo < 100 àË`oH$ Ho$ 4,000, 6% G$UnÌm§o H$m {ZJ©_Z < 95 à{V G$UnÌ
na {H$`m & 6% G$UnÌ ImVo Ho$ O_m nj _| IVm¡Zr H$s OmEJr : 1
(a) < 3,80,000
(b) < 4,40,000
(c) < 4,00,000
(d) < 20,000
9. {dH«$_ VWm gw{_V EH$ \$_© _| gmPoXma Wo VWm 2 : 1 Ho$ AZwnmV _| bm^-hm{Z H$m {d^mOZ
H$aVo Wo & g^r g_m`moOZm| Ho$ níMmV² {dH«$_ VWm gw{_V H$s ny±Or H«$_e: < 50,000 VWm
1
< 40,000 Wt & CÝhm|Zo O`ÝV H$mo bm^m| _| ^mJ Ho$ {bE \$_© _| gmPoXma Ho$ ê$n _|
3
àdoe {X`m & O`ÝV \$_© _| AmZwnm{VH$ n±yOr bm`m & O`ÝV Ûmam bmB© JB© n±yOr H$s am{e Wr : 1
(a) < 45,000 (b) < 30,000
(c) < 60,500 (d) < 90,000

67/3/2 JJJJ Page 8

7. (i) Mehak and Ravish were partners in a firm. On dissolution of the
firm, the loan given by Mehak to the firm was < 30,000, by Ravish
was < 15,000, and by Mrs. Ravish was < 10,000. The first
payment will be made for : 1
(a)
(b)
(c)
(d) in the ratio of their loan
amount
OR
(ii) Surbhi and Leena were partners in a firm sharing profits and
losses in the ratio of 5 : 3. Ashi was admitted as a new partner for
1 3
share in the profits of the firm. Ashi acquired of her share
4 5
from Surbhi. From the following, how much share did Ashi acquire
from Leena : 1
1 3
(a) (b)
10 20
2 3
(c) (d)
5 8
8. Sunbeam Limited issued 4,000, 6% Debentures of < 100 each at < 95 per
debenture. 6% Debentures account will be credited by : 1
(a) < 3,80,000
(b) < 4,40,000
(c) < 4,00,000
(d) < 20,000
9. Vikram and Sumit were partners in a firm sharing profits and losses in
the ratio of 2 : 1. The capitals of Vikram and Sumit after all adjustments
were < 50,000 and < 40,000 respectively. They admitted Jayant as a
1
partner for share in the profits of the firm. Jayant brought
3
proportionate capital in the firm. The amount of capital brought in by
Jayant was : 1
(a) < 45,000 (b) < 30,000
(c) < 60,500 (d) < 90,000

67/3/2 JJJJ Page 9 P.T.O.

 10
11
AZw, Mmé VWm {Xì`m gmPoXma h¢ VWm 2 : 1 : 2 Ho$ AZwnmV _| bm^-hm{Z H$m {d^mOZ H$aVo
h¢ & CZH$s nyy±Or H«$_e: < 5,00,000, < 3,00,000 VWm < 2,00,000 Wt & AZw Zo
ì`{º$JV ê$n go `h Jma§Q>r Xr {H$ {H$gr ^r df© _| {Xì`m Ho$ bm^ H$m ^mJ g^r gmPoXmam|
H$mo 5% à{V df© H$s Xa go n±yOr na ã`mO XoZo Ho$ ~mX < 75,000 go H$_ Zht hmoJm &
31 _mM©, 2022 H$mo g_má hþE df© H$m bm^ < 2,00,000 Wm &

10. Jma§Q>r H$s am{e H$m g_m`moOZ H$aZo Ho$ níMmV² gmPoXmam| Ho$ ~rM {d^m{OV H$s OmZo dmbr
A§{V_ bm^ H$s am{e hmoJr : 1
(a) AZw < 50,000; Mmé < 25,000; {Xì`m < 75,000
(b) AZw < 55,000; Mmé < 30,000; {Xì`m < 65,000
(c) AZw < 57,000; Mmé < 28,000; {Xì`m < 65,000
(d) AZw < 45,000; Mmé < 30,000; {Xì`m < 75,000
11. {Xì`m H$s Jma§Q>r H$s am{e {ZåZ{b{IV am{e go H$_ h¡ : 1
(a) < 75,000 (b) < 5,000
(c) < 15,000 (d) < 20,000
12. EH$ \$_© H$s Am¡gV {d{Z`mo{OV n±yOr < 1,60,000 h¡ & gm_mÝ` àË`m` Xa 15% h¡ VWm
BgHo$ Am¡gV bm^ < 60,000 h¢ & Am¡gV bm^m| Ho$ nyO
± rH$aU {d{Y Ûmam »`m{V H$m _yë` h¡ : 1
(a) < 16,40,000 (b) < 4,00,000 >
(c) < 2,40,000 (d) < 14,40,000
13. < 10 àË`oH$ Ho$ 100 A§em| H$m haU H$a {b`m {OZ na < 8 à{V A§e
_m±Jo JE Wo VWm {OZ na < 5 à{V A§e (< 2 à{V A§e àr{_`_ g{hV) H$s Am~§Q>Z am{e
H$m ^wJVmZ Zht {H$`m J`m Wm & BZ A§em| _| go 70 A§em| H$mo < 10 à{V A§e, < 8
`m{MV H$s Xa go AemoH$ H$mo nwZ: {ZJ©{_V H$a {X`m J`m & haU na A§e haU ImVo _|
IVm¡Zr H$s OmEJr : 1
(a) O_m nj _| < 700 go
(b) Zm_ nj _| < 500 go >
(c) O_m nj _| < 500 go
(d) Zm_ nj _| < 200 go
67/3/2 JJJJ Page 10
Read the following hypothetical situation and answer questions number
10 and 11 on the basis of information given :
Anu, Charu and Divya are partners sharing profits and losses in the ratio
of 2 : 1 : 2. Their capitals were < 5,00,000, < 3,00,000 and < 2,00,000

of profit after allowing interest on capital to all partners @ 5% p.a.

would not be less than < 75,000. The profit for the year ending
31st March, 2022 amounted to < 2,00,000.

10. The final amount of profit distributed among the partners after
adjustment of guaranteed amount will be : 1
(a) Anu < 50,000; Charu < 25,000; Divya < 75,000
(b) Anu < 55,000; Charu < 30,000; Divya < 65,000
(c) Anu < 57,000; Charu < 28,000; Divya < 65,000
(d) Anu < 45,000; Charu < 30,000; Divya < 75,000

11. the following amount : 1

(a) < 75,000 (b) < 5,000
(c) < 15,000 (d) < 20,000
12. Average capital employed in a firm is < 1,60,000. The normal rate of
return is 15% and its average profits are < 60,000. Value of goodwill by
capitalisation of average profits method is : 1
(a) < 16,40,000 (b) < 4,00,000
(c) < 2,40,000 (d) < 14,40,000
13. X Ltd. forfeited 100 shares of < 10 each, < 8 called-up for non-payment
of allotment money of < 5 per share (including premium of < 2 per
share). Out of these, 70 shares were reissued to Ashok as < 8 called-up,
for < : 1
(a) Credited by < 700
(b) Debited by < 500
(c) Credited by < 500
(d) Debited by < 200
67/3/2 JJJJ Page 11 P.T.O.
14. A`m{MV n±yOr H$m dh ^mJ {Ogo H§$nZr Ho$db H§$nZr Ho$ {dKQ>Z Ho$ g_` hr _m±JVr h¡,
H$hbmVr h¡ : 1
(a) g§{MV n±yOr
(b) ny±Or g§M` >
(c) A`m{MV ny±Or
(d) AXÎm ny±Or
15. `{X EH$ gmPoXma Ûmam EH$ {ZpíMV am{e H$m AmhaU àË`oH$ _mh Ho$ àmaå^ _| {H$`m OmVm
h¡, Vmo Hw$b am{e na AmhaU na ã`mO H$s JUZm H$s OmEJr : 1
(a) 7 _mh Ho$ {bE (b) 6 _mh Ho$ {bE
1 1
(c) 5 _mh Ho$ {bE (d) 6 _mh Ho$ {bE
2 2

16. A{X{V VWm ~m°~r gmPoXma Wo VWm àË`oH$ H$s ny±Or < 30,000 Wr & CÝhm|Zo MoVZ H$mo \$_©
Ho$ bm^m| _| 1 ^mJ Ho$ {bE EH$ ZE gmPoXma Ho$ ê$n _| àdoe {X`m & MoVZ AnZr ny±Or Ho$
4
ê$n _| < 48,000 bm`m & MoVZ Ho$ àdoe Ho$ g_` \$_© H$m bm^-hm{Z ImVm < 24,000
H$m O_m eof Xem© ahm Wm & MoVZ Ho$ àdoe na \$_© H$s »`m{V H$m _yë` hmoJm : 1
(a) < 40,000
(b) < 60,000 >
(c) < 75,000
(d) < 30,000

17. (H$) E_ {b{_Q>oS> Zo < 100 àË`oH$ Ho$ 10,000, 8% G$UnÌm| H$mo 6% ~Å>o na {ZJ©{_V
{H$`m & am{e H$m ^wJVmZ {ZåZ àH$ma go Xo` Wm : < 60 AmdoXZ na VWm eof
Am~§Q>Z na & g^r am{e {d{YdV² àmá hmo JB© &
E_ {b{_Q>oS> H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE & 3
AWdm
(I) EH$ H$ånZr Zo < 10 àË`oH$ Ho$ nyU©V: `m{MV 4,000 A§em|, {OZ na < 3 à{V
A§e H$s AmdoXZ am{e H$m ^wJVmZ {H$`m J`m Wm, H$m haU H$a {b`m & BZ_| go
2,000 A§em| H$mo nyU© àXÎm <18,000 na nwZ:{ZJ©{_V H$a {X`m J`m &
Cn`©wº$ boZXoZm| Ho$ {bE Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE & 3
67/3/2 JJJJ Page 12
14. A portion of the uncalled capital to be called only in the event of winding
up of the company is termed as : 1
(a) Reserve Capital
(b) Capital Reserve
(c) Uncalled Capital
(d) Unpaid Capital

15. If a fixed amount is withdrawn by a partner at the beginning of each

month, interest on drawings on the total amount will be calculated for : 1
(a) 7 months (b) 6 months
1 1
(c) 5 months (d) 6 months
2 2

16. Aditi and Bobby were partners with capitals of < 30,000 each. They
1
admitted Chetan as a new partner for share in the profits of the firm.
4
Chetan brought <
Profit and Loss Account of the firm showed a credit balance of < 24,000.
1
(a) < 40,000
(b) < 60,000
(c) < 75,000
(d) < 30,000

17. (a) M Ltd. issued 10,000, 8% Debentures of < 100 each at 6%

discount. The amount was payable as < 60 on application and the
balance on allotment. All money was duly received.
Pass necessary journal entries in the books of M Ltd. 3

OR

(b) A company forfeited 4,000 shares of < 10 each fully called-up, on

which application money of < 3 each has been paid. Out of these,
2,000 shares were reissued as fully paid up for <18,000.
Pass necessary journal entries for above transactions. 3

67/3/2 JJJJ Page 13 P.T.O.

18. (H$) a_Z, _ZZ VWm Z_Z gmPoXma Wo VWm 2 : 1 : 1 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo & a_Z
Zo à{V _mh < 3,000 VWm _ZZ Zo à{V _mh < 4,000 H$m AmhaU {H$`m &
AmhaU na 6% dm{f©H$ Xa go ã`mO bJm`m J`m O~{H$ gmPoXmar g§boI AmhaU na
ã`mO Ho$ {df` _| _m¡Z Wm &
AnZo H$m`© H$mo ñnîQ> ê$n go Xem©Vo hþE, Ìw{Q> H$mo ewÕ H$aZo hoVw Amdí`H$ g_m`moOZ
à{dpîQ> H$s{OE & 3
AWdm
(I) AéZ VWm ~éZ gmPoXma Wo VWm 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo & CZH$s n±yOr
H«$_e: < 50,000 VWm < 30,000 Wt & gmPoXmar g§boI _| ny±Or na 6% dm{f©H$
Xa go AéZ VWm ~éZ H$mo ã`mO XoZo H$m VWm ~éZ H$mo < 1,000 Ho$ Ì¡_m{gH$ doVZ
XoZo H$m àmdYmZ Wm & 1 2021 H$mo AéZ Zo ã`mO Ho$ ~mao _| {H$gr
g_Pm¡Vo Ho$ {~Zm \$_© H$mo < 1,00,000 H$m G$U {X`m & df© 2021 22 _| A{O©V
bm^ < 26,800 Wo &
31 _mM©, 2022 H$mo g_má hþE df© Ho$ {bE \$_© H$m bm^-hm{Z {d{Z`moOZ ImVm
V¡`ma H$s{OE & 3

19. H$ZH$, H$_b VWm H$mÝhm EH$ \$_© _| gmPoXma h¢ & CZH$s ñWm`r n±Oy r
H«$_e: < 5,00,000, < 10,00,000 VWm < 15,00,000 Wt & do AnZr ñWm`r n±yOr Ho$
AZwnmV _| bm^ ~m±°Q>Vo h¢ & \$_© àË`oH$ df© 31 _mM© H$mo AnZr nwñVH|$ ~§X H$aVr h¡ &
30 {gVå~a, 2021 H$mo H$ZH$ H$s _¥Ë`w hmo JB© & bm^ _| H$ZH$ Ho$ ^mJ H$s JUZm {nN>bo
pñW{V {ddaU H$s {V{W go _¥Ë`w H$s {V{W VH$ {dH«$` Ho$ AmYma na H$s OmEJr &
df© 2020 21 H$m {dH«$` VWm bm^ H«$_e: < 20,00,000 VWm < 2,00,000 Wm &
1 Aà¡b, 2021 go 30 {gVå~a, 2021 VH$ {dH«$` < 6,00,000 Wm &
(i) H$ZH$ Ho$ bm^ Ho$ ^mJ H$s JÊmZm H$s{OE &
(ii) bm^ _| H$ZH$ Ho$ ^mJ Ho$ boIm§H$Z H$s Amdí`H$ amoµOZm_Mm à{dpîQ> H$s{OE & 3

20. gZr, d¡^d VWm _rVm EH$ \$_© _| gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^-hm{Z ~m±Q>Vo
Wo & 31 _mM©, 2022 H$mo gZr godm{Zd¥Îm hmo J`m & nwZ_y©ë`m§H$Z, »`m{V VWm g§{MV bm^m|
Am{X go g§~§{YV g^r g_m`moOZm| H$mo H$aZo Ho$ níMmV² d¡^d VWm _rVm Ho$ ny±Or ImVo H«$_e :
< 1,00,000 VWm < 50,000 H$m O_m eof Xem© aho Wo & `h {ZU©` {b`m J`m {H$ d¡^d
VWm _rVm H$s ny±Or H$mo CZHo$ ZE bm^-{d^mOZ AZwnmV _| g_m`mo{OV {H$`m OmE &
gmPoXmam| H$s ZB© ny±Or H$s JUZm H$s{OE VWm gmPoXmam| Ûmam Amdí`H$ am{e bmZo AWdm
CgH$mo {ZH$mbZo H$s Amdí`H$ amoµOZm_Mm à{dpîQ>`m± H$s{OE & 3
67/3/2 JJJJ Page 14
18. (a) Raman, Manan and Naman were partners sharing profit in the
ratio of 2 : 1 : 1. Raman withdrew < 3,000 every month and Manan
withdrew < 4,000 every month. Interest on drawings @ 6% p.a.
was charged whereas the partnership deed was silent about
interest on drawings.
Showing your working clearly, pass the necessary adjustment
entry to rectify the error. 3
OR
(b) Arun and Barun were partners sharing profits in the ratio of
3 : 2. Their capitals were < 50,000 and < 30,000 respectively.
Partnership deed provided for interest on capital @ 6% p.a. to Arun
and Barun and quarterly salary of < 1,000 to Barun. Arun had
given a loan of < 1,00,000 on 1st October, 2021 to the firm without
any agreement about interest. For the year 2021 22, the profits
earned were < 26,800.
Prepare Profit and Loss Appropriation Account of the firm for the
year ended 31st March, 2022. 3

19. Kanak, Kamal and Kanha are partners in a firm. Their fixed capitals
were < 5,00,000, < 10,00,000 and < 15,00,000 respectively. They share
profits in the ratio of their fixed capitals. Firm closes its books of accounts
on 31st March every year. Kanak died on 30th
share of profit till the date of death from the last Balance Sheet date, was
to be calculated on the basis of sales. Sales and Profit for the year
2020 21 were < 20,00,000 and < 2,00,000 respectively. Sales from 1st
April, 2021 to 30th September, 2021 were < 6,00,000.
(i)
(ii) 3
20. Sunny, Vaibhav and Mita were partners in a firm sharing profits and
losses in the ratio of 5 : 3 : 2. Sunny retired on 31st March, 2022. After
making all adjustments relating to revaluation, goodwill and
accumulated profit, etc. the capital accounts of Vaibhav and Mita showed
a credit balance of < 1,00,000 and < 50,000 respectively. It was decided
to adjust the capitals of Vaibhav and Mita in their new profit sharing
ratio.
Calculate the new capitals of the partners and pass necessary journal
entries for bringing in or withdrawal of the necessary amounts by the
partners. 3
67/3/2 JJJJ Page 15 P.T.O.
21. a{d, H${d VWm Mm§X gmPoXma Wo VWm 5 : 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo &
31 _mM©, 2022 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :

31 _mM©, 2022 H$mo a{d, H${d VWm Mm§X H$m pñW{V {ddaU

Xo`VmE± am{e n[agån{Îm`m± am{e

< <
{d{dY boZXma 70,000 ^y{_ VWm ^dZ 3,50,000

Mm§X H$m G$U 20,000 ñQ>m°H$ 3,00,000

lr_{V Mm§X H$m G$U 20,000 XoZXma 2,00,000

ny±Or : KQ>m àmdYmZ 10,000 1,90,000

a{d 4,00,000 70,000

H${d 3,00,000

Mm§X 1,00,000 8,00,000

9,10,000 9,10,000

Cn`w©º$ {V{W H$mo \$_© H$m {dKQ>Z hmo J`m &

(i) ^y{_ VWm ^dZ Ed§ ñQ>m°H$ H$mo < 6,00,000 _| ~oM {X`m J`m & XoZXmam| go nwñVH$
_yë` go 10% H$_ H$s dgybr hþB© &
(ii) lr_{V Mm§X Ho$ G$U H$m {ZnQ>mZ CÝh| < 22,000 H$m EH$ H$åß`yQ>a XoH$a {H$`m J`m
{OgH$m boIm nwñVH$m| _| Zht Wm &
(iii) a{d Zo < 30,000 H$s am{e Ho$ EH$ boZXma H$m {ZnQ>mZ Cgo < 20,000 H$m ^wJVmZ
H$aHo$ {H$`m &
(iv) eof boZXmam| H$mo ZH$X ^wJVmZ H$a {X`m J`m &
dgybr ImVm V¡`ma H$s{OE & 4

67/3/2 JJJJ Page 16

21. Ravi, Kavi and Chand were partners sharing profits in the ratio of
5 : 3 : 2. On 31st March, 2022, their Balance Sheet was as follows :

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

Amount Amount
Liabilities < Assets <
Sundry Creditors 70,000 Land and Building 3,50,000

Chand 20,000 Stock 3,00,000

Mrs. Chand 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 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. 4

67/3/2 JJJJ Page 17 P.T.O.

22. 1 Aà¡b, 2021 H$mo à^m {b{_Q>oS> H$s ñWmnZm < 100 àË`oH$ Ho$ 90,000 g_Vm A§em| _|
{d^º$ < 90,00,000 H$s A{YH¥$V ny±Or Ho$ gmW hþB© & H§$nZr Zo 80,000 g_Vm A§em| Ho$
{bE AmdoXZ Am_§{ÌV {H$E & am{e H$m ^wJVmZ {ZåZ àH$ma go Xo` Wm :
AmdoXZ na : < 30 à{V A§e
Am~§Q>Z na : < 40 à{V A§e
àW_ VWm A§{V_ `mMZm na : eof am{e
1,00,000 A§em| Ho$ {bE AmdoXZ àmá hþE & 20,000 A§em| Ho$ {bE AmdoXZm| H$mo aÔ H$a
{X`m J`m VWm AmdoXZ am{e dmng H$a Xr JB© & g^r `mMZmE± _m±J br JBª & 600 A§em| Ho$
EH$ A§eYmaH$ Zo àW_ VWm A§{V_ `mMZm H$m ^wJVmZ Zht {H$`m &
H§$nZr A{Y{Z`_, 2013 H$s AZwgyMr III, ^mJ I Ho$ AZwgma A§e ny±Or H$mo H§$nZr Ho$
31 _mM©, 2022 Ho$ pñW{V {ddaU _| Xem©BE & Bgr Ho$ {bE ImVm| Ho$ ZmoQ²>g ^r V¡`ma
H$s{OE & 4

23. (H$) H$ VWm I gmPoXma, Omo 3 : 2 Ho$ AZwnmV _| bm^ ~m±Q>Vo Wo, H$m 31 _mM©, 2022
H$mo pñW{V {ddaU {ZåZ àH$ma go Wm :
31 _mM©, 2022 H$mo H$ VWm I H$m pñW{V {ddaU

am{e am{e
Xo`VmE± <
n[agån{Îm`m± <
boZXma 30,000 20,000

{Zdoe CVma- 12,000 XoZXma 85,000

gm_mÝ` g§M` 25,000 KQ>m àmdYmZ 5,000 80,000

ny±Or : ñQ>m°H$ 1,30,000

H$ 1,60,000 {Zdoe 60,000

I 1,40,000 3,00,000 \$ZuMa 77,000

3,67,000 3,67,000

1 Aà¡b, 2022 H$mo CÝhm|Zo bm^ _| 1 ^mJ Ho$ {bE J H$mo {ZåZ{b{IV eVm] na
5
EH$ Z`m gmPoXma ~ZmZo H$m {ZU©` {H$`m :
(i) J AnZr ny±Or Ho$ {bE < 1,00,000 VWm »`m{V Ho$ AnZo ^mJ Ho$ {bE
< 50,000 »`m{V àr{_`_ bmEJm &

67/3/2 JJJJ Page 18

22. On 1st April, 2021, Prabha Ltd. was formed with an authorised capital of
< 90,00,000 divided into 90,000 equity shares of < 100 each. The
company invited applications for 80,000 equity shares. The amount was
payable as follows :
On application : < 30 per share
On allotment : < 40 per share
On first and final call : Balance amount
Applications for 1,00,000 shares were received. Applications for 20,000
shares were rejected and the application money was refunded. All calls
were made. A shareholder holding 600 shares did not pay the first and
final call.

Schedule III, Part I of the Companies Act, 2013 as at 31 st March, 2022.

4

23. (a) On 31st March, 2022 the Balance Sheet of partners A and B, who
were sharing profits in the ratio of 3 : 2 was as follows :
Balance Sheet of A and B as at 31st March, 2022
Amount Amount
Liabilities < Assets <
Creditors 30,000 Cash at Bank 20,000
Investment
12,000 Debtors 85,000
Fluctuation Fund
Less
General Reserve 25,000 80,000
provision 5,000
Capitals : Stock 1,30,000
A 1,60,000 Investments 60,000
B 1,40,000 3,00,000 Furniture 77,000
3,67,000 3,67,000

On 1st April 2022, they decided to admit C as a new partner for

1
share in the profits on the following terms :
5
(i) C brought < 1,00,000 as his Capital and < 50,000 as his
share of Premium for Goodwill.

67/3/2 JJJJ Page 19 P.T.O.

 (ii) < 2,000 H$m EH$ _hrZo H$m doVZ AXÎm Wm &
(iii) {Zdoe H$m ~mµOma _yë` < 50,000 Wm &
(iv) EH$ XoZXma, {OgH$s XoZXmar H$mo Sy>~V G$U Ho$ ê$n _| An{b{IV H$a {X`m
J`m Wm, Zo nyU© {ZnQ>mZ _| < 12,000 H$m ^wJVmZ {H$`m &
nwZ_y©ë`m§H$Z ImVm VWm gmPoXmam| Ho$ ny±Or ImVo V¡`ma H$s{OE & 6
AWdm
(I) A{ZVm, JrVm VWm grVm EH$ \$_© _| gmPoXma Wo VWm 2 : 2 : 1 Ho$ AZwnmV _|
bm^-hm{Z ~m±Q>Vo Wo & 31 _mM©, 2022 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go
Wm :
31 _mM©, 2022 H$mo A{ZVm, JrVm VWm grVm H$m pñW{V {ddaU
am{e am{e
Xo`VmE± <
n[agån{Îm`m± <
ny±Or : ^y{_ VWm ^dZ 4,80,000

A{ZVm 2,00,000 {Zdoe 1,20,000

JrVm 2,00,000
XoZXma 1,50,000
grVm 1,00,000 5,00,000
KQ>m
gm_mÝ` g§M` 30,000
àmdYmZ 10,000 1,40,000
boZXma 5,00,000 ñQ>m°H$ 1,20,000
1,70,000
10,30,000 10,30,000

Cn`w©º$ {V{W H$mo, A{ZVm \$_© go godm{Zd¥Îm hmo JB© VWm eof gmPoXmam| Zo ì`dgm`
Omar aIZo H$m {ZU©` {b`m & n[agån{Îm`m| Ho$ nwZ_©yë`m§H$Z VWm Xo`VmAm| Ho$
nwZ{Z©Ym©aU na {ZåZ gh_{V hþB© :
(i) \$_© H$s »`m{V H$m _yë`m§H$Z < 3,00,000 {H$`m J`m &
(ii) ^y{_ VWm ^dZ H$mo < 1,23,000
(iii) Sy>~V G$U < 20,000 Wo & XoZXmam| na g§{X½Y G$Um| Ho$ {bE 10% H$m
àmdYmZ H$aZm Wm &
67/3/2 JJJJ Page 20
 (ii) One month salary < 2,000 was outstanding.
(iii) The market value of investments was < 50,000.
(iv) A debtor, whose dues were written off as bad debts, paid
< 12,000 in full settlement.
Prepare Revaluation Account and Partners Capital Accounts. 6

OR
(b) Anita, Geeta and Sita were partners in a firm sharing profits
and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at
31st March, 2022 was as follow :
Balance Sheet of Anita, Geeta and Sita as at 31st March, 2022

Amount Amount
Liabilities < Assets <

Capitals : Land and Building 4,80,000

Anita 2,00,000 Investments 1,20,000

Geeta 2,00,000
Debtors 1,50,000
Sita 1,00,000 5,00,000
Less
General Reserve 30,000
Provision 10,000 1,40,000
Creditors 5,00,000 Stock 1,20,000
Cash at Bank 1,70,000
10,30,000 10,30,000

On the above date, Anita retired from the firm and the remaining
partners decided to carry on the business. It was agreed to revalue
the assets and reassess the liabilities as follows :
(i) Goodwill of the firm was valued at < 3,00,000.

(ii) Land and Building was to be appreciated by < 1,23,000.

(iii) Bad debts amounted to < 20,000. A provision for doubtful
debts was to be maintained at 10% on debtors.

67/3/2 JJJJ Page 21 P.T.O.

 (iv) A{ZVm H$mo M¡H$ Ûmam < 80,000 H$m VwaÝV ^wJVmZ H$a {X`m J`m & eof
am{e H$m hñVmÝVaU CgHo$ G$U ImVo _| H$a {X`m J`m {OgH$m ^wJVmZ Xmo
~am~a dm{f©H$ {H$íVm| _| 10% dm{f©H$ Xa go ã`mO g{hV {H$`m OmEJm &
A{ZVm Ho$ godm{Zd¥Îm hmoZo na nwZ_y©ë`m§H$Z ImVm VWm gmPoXmam| Ho$ ny±Or ImVo V¡`ma
H$s{OE & 6

24. V¥fm, A{Zem VWm G${fH$m EH$ \$_© _| gmPoXma Wo VWm 2 : 2 : 1 Ho$ AZwnmV _|
bm^-hm{Z ~m±Q>Vo Wo & 31 _mM©, 2022 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm :

31 _mM©, 2022 H$mo V¥fm, A{Zem VWm G${fH$m H$m pñW{V {ddaU

Xo`VmE± am{e n[agån{Îm`m± am{e

< <
ny±Or : g§`§Ì Ed§ _erZar 5,00,000
V¥fm 3,00,000 ñQ>m°H$ 1,00,000
A{Zem 2,00,000
XoZXma 60,000
G${fH$m 1,00,000 6,00,000
gm_mÝ` g§M` 50,000 40,000

boZXma 50,000

7,00,000 7,00,000

31 OwbmB©, 2022 H$mo V¥fm H$s _¥Ë`w hmo JB© & gmPoXmar g§boI Ho$ AZwgma _¥VH$ gmPoXma Ho$
{ZînmXH$ {ZåZ Ho$ hH$Xma Wo :
(i) gmPoXma Ho$ ny±Or ImVo _| eof &
(ii) < 15,000 Ì¡_m{gH$ doVZ &
(iii) »`m{V _| ^mJ {OgH$s JUZm {nN>bo VrZ dfmªo Ho$ Am¡gV bm^m| Ho$ Xmo JwUm Ho$
AmYma na H$s OmEJr &
(iv) {nN>bo boIm§H$Z df© H$s g_m{á go _¥Ë`w H$s {V{W VH$ bm^m| _| ^mJ {OgH$s JUZm
{nN>bo df© Ho$ bm^ Ho$ AmYma na H$s OmEJr & 2019 20, 2020 21 VWm
2021 22 Ho$ bm^ H«$_e: < 1,00,000, < 2,00,000 VWm < 1,50,000 Wo &

67/3/2 JJJJ Page 22

 (iv) Anita was paid < 80,000 immediately by cheque. The
balance amount was transferred to her loan account which
was to be paid in two equal annual instalments along with
interest @ 10% p.a.
l Accounts on
6

24. Trisha, Anisha and Rishika were partners in a firm sharing profits and
losses in the ratio of 2 : 2 : 1. Their Balance Sheet as at 31st March, 2022
was as follows :
Balance Sheet of Trisha, Anisha and Rishika as at 31st March, 2022

Amount Amount
Liabilities < Assets <
Capitals : Plant and Machinery 5,00,000

Trisha 3,00,000 Stock 1,00,000

Anisha 2,00,000
Debtors 60,000
Rishika 1,00,000 6,00,000

General Reserve 50,000 Cash at Bank 40,000

Creditors 50,000

7,00,000 7,00,000

Trisha died on 31st July, 2022. According to the partnership deed, the
executors of the deceased partner were entitled to :
(i)
(ii) Salary @ < 15,000 per quarter.
(iii) Share of goodwill calculated on the basis of twice the average of past

(iv) Share of profits from the closure of the last accounting year
till the date of death on the basis of la
2019 20, 2020 21 and 2021 22 were < 1,00,000, < 2,00,000
and < 1,50,000 respectively.

67/3/2 JJJJ Page 23 P.T.O.

 (v) V¥fm Zo 1 _B©, 2022 H$mo AnZo ì`{º$JV Cn`moJ Ho$ {bE < 20,000 H$m AmhaU
{H$`m &
AnZo H$m`© H$mo ñnîQ>Vm go Xem©Vo hþE CgHo$ {ZînmXH$m| H$mo àñVwV H$aZo hoVw V¥fm H$m ny±Or
ImVm V¡`ma H$s{OE & 6

25. (H$) bmoQ²>g {b{_Q>oS> Zo < 10 àË`oH$ Ho$ 80,000 g_Vm A§em| H$mo < 4 à{V A§e Ho$
àr{_`_ na {ZJ©{_V H$aZo Ho$ {bE AmdoXZ Am_pÝÌV {H$E & am{e H$m ^wJVmZ {ZåZ
àH$ma go Xo` Wm :
AmdoXZ na < 5 à{V A§e
Am~§Q>Z na < 9 à{V A§e (àr{_`_ g{hV)
1,40,000 A§em| Ho$ {bE AmdoXZ àmá hþE VWm g^r AmdoXH$m| H$mo AmZwnm{VH$
AmYma na Am~§Q>Z H$a {X`m J`m & AmdoXZ na àmá A{V[aº$ am{e H$m g_m`moOZ
Am~§Q>Z na Xo` am{e _| H$a {b`m J`m & amOrd, {OgZo 1,400 A§em| Ho$ {bE
AmdoXZ {H$`m Wm, Am~§Q>Z am{e H$m ^wJVmZ H$aZo _| Ag\$b ahm & CgHo$ A§em| H$m
haU H$a {b`m J`m & ~mX _|, BZ haU {H$E JE A§em| H$mo < 9 à{V A§e nyU© àXÎm
nwZ:{ZJ©{_V H$a {X`m J`m &
Cn`w©º$ boZXoZm| Ho$ {bE bmoQ²>g {b{_Q>oS> H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm
à{d{ï>`m± H$s{OE & 6
AWdm
(I) Q>çy{bn {b{_Q>oS> Zo < 10 àË`oH$ Ho$ 2,40,000 g_Vm A§em| H$mo < 4 à{V A§e Ho$
àr{_`_ na {ZJ©{_V H$aZo Ho$ {bE AmdoXZ Am_pÝÌV {H$E & am{e H$m ^wJVmZ {ZåZ
àH$ma go Xo` Wm :
AmdoXZ na < 4 à{V A§e (< 2 àr{_`_ g{hV)
Am~§Q>Z na < 4 à{V A§e
àW_ Ed§ A§{V_ `mMZm na < 6 à{V A§e (< 2 àr{_`_ g{hV)
3,00,000 A§em| Ho$ {bE AmdoXZ àmá hþE VWm g^r AmdoXH$m| H$mo AmZwnm{VH$
AmYma na A§em| H$m Am~§Q>Z H$a {X`m J`m & AmdoXZ na àmá A{V[aº$ AmdoXZ
am{e H$m g_m`moOZ Am~§Q>Z na Xo` am{e _| H$a {b`m J`m & g^r am{e {d{YdV²
7,500 A§ímm| Ho$ {bE AmdoXZ {H$`m Wm VWm
Omo Am~§Q>Z VWm àW_ Ed§ A§{V_ `mMZm H$m ^wJVmZ H$aZo _| Ag\$b ahr &
Cn`w©º$ boZXoZm| Ho$ {bE Q>çy{bn {b{_Q>oS> H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm
à{d{ï>`m± H$s{OE & Ohm± Amdí`H$ hmo, AXÎm `mMZm ImVm VWm A{J«_ `mMZm ImVm
Imo{bE & 6
67/3/2 JJJJ Page 24
(v) Trisha withdrew < 20,000 on 1st May, 2022 for her personal use.

rendered to her executors. 6

25. (a) Lotus Ltd. invited applications for issuing 80,000 equity shares of
< 10 each at a premium of < 4 per share. The amount was payable
as follows :
On application < 5 per share and
On allotment < 9 per share (included premium).
Applications were received for 1,40,000 shares and allotment was
made to all applicants on pro-rata basis. Money overpaid on
applications was adjusted towards sums due on allotment. Rajiv,
who had applied for 1,400 shares, failed to pay the allotment
money. His shares were forfeited. Later on, these forfeited shares
were reissued at < 9 per share as fully paid up.
Pass necessary journal entries for the above transactions in the
books of Lotus Ltd. 6

OR

(b) Tulip Ltd. invited applications for issuing 2,40,000 equity shares of
< 10 each at a premium of < 4 per share. The amount was payable
as under :
On application < 4 per share (including premium < 2)
On allotment < 4 per share
On first and final call < 6 per share (including premium < 2)
Applications for 3,00,000 shares were received and pro-rata
allotment was made to all the applicants. Excess application
money received with applications was adjusted towards sums due
on allotment. All moneys were duly received except from Rohini
who had applied for 7,500 shares, and failed to pay allotment and
first and final call.
Pass the necessary journal entries for the above transactions in the
books of Tulip Ltd. Open Calls-in-arrears and Calls-in-advance
account, wherever necessary. 6
67/3/2 JJJJ Page 25 P.T.O.
26. (H$) 1 Aà¡b, 2021 H$mo Eb E_ {b{_Q>oS> Zo < 50 àË`oH$ Ho$ < 45,00,000, 12%
G$UnÌm| H$m {ZJ©_Z 10% ~Åo na {H$`m & 31 _mM©, 2022 H$mo BgZo G$UnÌ {ZJ©_Z
~Åo H$mo H§$nZr A{Y{Z`_, 2013 Ho$ àmdYmZm| Ho$ AZwgma An{b{IV H$aZo H$m
{ZU©`
{H$`m & BgHo$ à{V^y{V àr{_`_ g§M` ImVo Ho$ O_m _| < 1,75,000 H$m eof Wm &
Cn`w©º$ boZXoZm| Ho$ {bE H§$nZr H$s nwñVH$m| _| Amdí`H$ amoµOZm_Mm à{dpîQ>`m±
H$s{OE &
(I) 1 Aà¡b, 2022 H$mo Ho$ Ama {b{_Q>oS> Zo Eg E_ {b{_Q>oS> H$s < 50,00,000 H$s
n[agån{Îm`m| VWm < 10,00,000 H$s Xo`VmAm| H$m A{YJ«hU < 40,00,000 Ho$
H«$` _yë` na {H$`m & Eg E_ {b{_Q>oS> H$mo < 20,00,000 H$m ^wJVmZ < 100
àË`oH$ Ho$ 12% G$UnÌm| H$mo 25% àr{_`_ na {ZJ©{_V H$aHo$ {H$`m &
< 15,00,000 H$m ^wJVmZ Eg E_ {b{_Q>oS> Ho$ nj _| EH$ aoIm§{H$V M¡H$ H$mo
{ZJ©{_V H$aHo$ {H$`m J`m & eof Ho$ {bE Ho$ Ama {b{_Q>oS> Zo Eg E_ {b{_Q>oS> Ûmam
CZ na {bIo JE EH$ {d{Z_` nÌ H$mo ñdrH¥$V H$aHo$ {H$`m, Omo VrZ _mh níMmV²
Xo` Wm &
H§$nZr H$s nwñVH$m| _| Cn`w©º$ boZXoZm| Ho$ {bE Amdí`H$ amoµOZm_Mm à{dpîQ>`m±
H$s{OE & 3+3=6

^mJ I
{dH$ën - I
({dÎmr` {ddaUm| H$m {díbofU)

27. {ZåZ{b{IV _| go H$m¡Z- : 1

(a) < 80,000 H$s bmJV H$m \$ZuMa < 75,000 _| ~oMm J`m
(b) < 5,00,000 Ho$ ~moZg A§em| H$m {ZJ©_Z
(c) < 15,000 Ho$ ì`mnm[aH$ Xo` H$m ^wJVmZ
(d) ñWm`r n[agån{Îm`m| na < 11,000 H$m _yë`õmg àXmZ {H$`m J`m
67/3/2 JJJJ Page 26
26. (a) On 1st April, 2021, LM Ltd. issued < 45,00,000, 12% Debentures of
< 50 each at a discount of 10%. On 31st March, 2022 it decided to
write off discount on issue of debentures according to the
provisions of the Companies Act, 2013. It had a credit balance of
<
Pass necessary journal entries for the above transaction in the
books of the company.

(b) On 1st April, 2022, KR Ltd. acquired assets of < 50,00,000 from
SM Ltd. and took over liabilities of < 10,00,000 for a purchase
consideration of < 40,00,000. < 20,00,000 were paid to SM Ltd. by
issuing 12% Debentures of < 100 each at a premium of 25%,
< 15,00,000 were paid by issuing a crossed cheque in favour of SM
Ltd. For the balance, KR Ltd. accepted a Bill of Exchange drawn
upon them by SM Ltd. payable after three months.
Pass necessary journal entries for the above transactions in the
books of the company. 3+3=6

PART B
OPTION I
(Analysis of Financial Statements)

27. Which of the following transactions would result in inflow of cash and
cash equivalents : 1

(a) Furniture costing < 80,000 sold for < 75,000

(b) Issue of bonus shares < 5,00,000

(c) Payment to trade payables < 15,000

(d) Provided depreciation on fixed assets < 11,000

67/3/2 JJJJ Page 27 P.T.O.

28. (i) {ZåZ{b{IV _| go H$m¡Z-gm bm^àXVm AZwnmV h¡ : 1
(a) gH$b bm^ AZwnmV
(b) {Zdoe na àË`m`
(c) ñdm{_Ëd AZwnmV
(d) àMmbZ AZwnmV
AWdm
(ii) {ZåZ{b{IV _| go H$m¡Z-gm {dÎmr` {ddaUm| H$m {díbofU H$m EH$ gmYZ h¡ : 1
(a)

(b) bm^-hm{Z {ddaU

(c) pñW{V {ddaU
(d) (a) VWm (b) XmoZm|

29. {ZåZ{b{IV _| go H$m¡Z- h¡ : 1

(a) < 25,000 H$s {dnUZ-`mo½` à{V^y{V`m| H$m H«$`
(b) < 2,80,000 H$s ^y{_ H$m {dH«$`
(c) < 3,00,000 Ho$ {d{Z`moJm| H$m {dH«$`
(d) < 1,00,000 Ho$ g§`§Ì H$m H«$`

30. (i) EH$ H$ånZr H$m G$U-g_Vm AZwnmV 2 : 1 h¡ & {ZåZ{b{IV _| go H$m¡Z-gm boZXoZ
G$U- m? 1
(a) < 1,00,000 Ho$ A§em| H$m {ZJ©_Z
(b) < 4,00,000, 9% G$UnÌm| H$m {ZJ©_Z
(c) < 3,00,000 Ho$ ~moZg A§em| H$m {ZJ©_Z
(d) < 50,000 Ho$ boZXmam| H$m ^wJVmZ

AWdm

67/3/2 JJJJ Page 28

28. (i) Which of the following is not : 1
(a) Gross Profit Ratio
(b) Return on Investment
(c) Proprietary Ratio
(d) Operating Ratio
OR

(ii)
: 1
(a) Cash Flow Statement
(b) Statement of Profit and Loss
(c) Balance Sheet
(d) Both (a) and (b)

29. Which of the following transactions is not related to cash flows from
investing activities : 1
(a) Purchase of marketable securities < 25,000

(b) Sale of land < 2,80,000

(c) Sale of investments < 3,00,000

(d) Purchase of equipment < 1,00,000

30. (i) The Debt-Equity Ratio of a company is 2 : 1. Which of the following

transactions will increase the Debt-Equity Ratio : 1
(a) Issue of shares < 1,00,000

(b) Issue of 9% debentures < 4,00,000

(c) Issue of bonus shares < 3,00,000

(d) Payment of creditors < 50,000

OR

67/3/2 JJJJ Page 29 P.T.O.

 (ii) 31 _mM©, 2022H$mo g_má hþE df© _| lÕm {b{_Q>oS> Zo ã`mO Ed§ H$a go nyd©
< 15,00,000 H$m ewÕ bm^ A{O©V {H$`m & H$ånZr H$m < 50,00,000 H$m EH$
10% XrK©H$mbrZ G$U Wm & H$a Xa 40% h¡ & H$ånZr H$m ã`mO AmdaU AZwnmV
hmoJm : 1
(a) 2 JwZm
(b) 3 JwZm
(c) 1·2 JwZm
(d) 1·5 JwZm

31. H§$nZr A{Y{Z`_, 2013 H$s AZwgyMr III, ^mJ I Ho$ AZwgma H$ånZr H$s {ZåZ{b{IV _Xm|
H$mo pñW{V {ddaU Ho$ _w»` erf©H$m| VWm Cn-erf©H$m| (`{X H$moB© h¡) Ho$ AÝVJ©V dJuH¥$V
H$s{OE : 3
(i) ^§S>ma Am¡a nwO}
(ii) ny±Or A{J«_
(iii) AXÎm ì``

32. `h EH$ VH$ZrH$ h¡ {Og_| A§H$J{UVr` g§~§Ym| Ho$ g_yhrH$aU

gpå_{bV h¡ &
VH$ZrH$ H$s nhMmZ H$s{OE VWm Cn`w©º$ _| nhMmZr JB© VH$ZrH$ Ho$ {H$Ýht Xmo bm^m| H$m
3

33. (H$) {ZåZ{b{IV gyMZm go gH$b bm^ AZwnmV H$s JUZm H$s{OE : 4
Am¡gV BÝdoÝQ>ar (ñQ>m°H$) < 1,60,000; BÝdoÝQ>ar AmdV© AZwnmV 8 JwZm; Am¡gV
ì`mnm[aH$ àmß` < 2,00,000; ì`mnm[aH$ àmß` AmdV© AZwnmV 6 JwZm VWm ZJX
{dH«$` Hw$b {dH«$` H$m 25% &
AWdm
(I) {ZåZ{b{IV gyMZm go H$m`©erb ny±Or AmdV© AZwnmV H$s JUZm H$s{OE : 4
{d{Z`mo{OV ny±Or < 1,00,000
AMb n[agån{Îm`m± < 80,000
àMmbZm| go AmJ_ bmJV < 3,20,000
gH$b bm^ AZwnmV 20%
67/3/2 JJJJ Page 30
 (ii) During the year ended 31st March, 2022, Shradha Ltd. earned net
profit of < 15,00,000 before interest and tax. The company has a
10% long term debt of < 50,00,000. The tax rate is 40%. The
Interest Coverage Ratio of the company will be : 1
(a) 2 times
(b) 3 times
(c) 1·2 times
(d) 1·5 times

31. Classify the following items under major heads and sub-heads (if any) in
the Balance Sheet of a company as per Schedule III, Part I of the
Companies Act, 2013 : 3
(i) Stores and Spares
(ii) Capital Advances
(iii) Outstanding Expenses

32. h involves regrouping of data by application of

Identify the technique and state any two advantages of the technique
identified above. 3

33. (a) Calculate Gross Profit Ratio from the following information : 4
Average Inventory < 1,60,000; Inventory Turnover Ratio 8 times,
Average Trade Receivables < 2,00,000; Trade Receivables
Turnover Ratio 6 times and Cash Sales 25% of Total Sales.
OR

(b) From the following information, calculate Working Capital

Turnover Ratio : 4
Capital Employed < 1,00,000
Non-Current Assets < 80,000
Cost of Revenue from Operations < 3,20,000
Gross Profit Ratio 20%

67/3/2 JJJJ Page 31 P.T.O.

34. íZ H$m CÎma Xr{OE :
_oH$-BZ-B§{S>`m {_eZ go ào[aV hmoH$a AmµOmX Zo AmµOmX {b{_Q>oS H$ånZr Ho$ ê$n _|
2016 _| N>: AÝ` àdV©H$m| Ho$ gmW AnZm EH$ Z`m ì`dgm` Amaå^ {H$`m & H$ånZr
bJmVma AÀN>m AmJ_ A{O©V H$a ahr h¡ & 31 _mM©, 2022 H$mo AmµOmX {b{_Q>oS H$s {dÎmr`
pñW{V {ZåZ àH$ma Wr :
31 _mM©, 2022 H$mo AmµOmX {b{_Q>oS> H$m pñW{V {ddaU
ZmoQ> 31.3.2022 31.3.2021
{ddaU g§. < <
I g_Vm VWm Xo`VmE± :
1. A§eYmaH$$ {Z{Y`m±
(H$) A§e ny±Or 19,00,000 17,00,000
(I) g§M` Ed§ Am{Y 1 6,00,000 3,00,000
2. AMb Xo`VmE±±
XrK©H$mbrZ CYma 2 5,00,000 4,00,000
3. Mmby Xo`VmE±
(H$) bKwH$mbrZ CYma 3 1,70,000 1,75,000
(I) bKwH$mbrZ àmdYmZ 4 2,00,000 1,65,000
Hw$b 33,70,000 27,40,000
II n[agån{Îm`m± :

1. AMb n[agån{Îm`m±
(H$) ñWm`r n[agån{Îm`m±
(i) _yV© n[agån{Îm`m± 5 24,00,000 19,00,000
(ii) A_yV© n[agån{Îm`m± 6 4,00,000 3,00,000
(I) AMb {Zdoe 1,00,000 2,00,000
2. Mmby n[agån{Îm`m±
(H$) Mmby {Zdoe 1,40,000 1,70,000
(I) ñQ>m°H$ (_mbgyMr) 2,60,000 1,30,000
(J) 70,000 40,000
Hw$b 33,70,000 27,40,000

67/3/2 JJJJ Page 32

34. Read the following hypothetical text and answer the given question on
this basis :
-in- -up in the

The company has been earning good revenue consistently. The financial
position of Azad Ltd. as at 31st March, 2022 was as follows :
Balance Sheet of Azad Ltd. as at 31st March, 2022
Note 31.3.2022 31.3.2021
Particulars
No. < <
I Equity and Liabilities :
1.
(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
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

67/3/2 JJJJ Page 33 P.T.O.

 ImVm| Ho$ ZmoQ²>g :

ZmoQ> 31.3.2022 31.3.2021

g§. < <
(1) ² 6,00,000 3,00,000
bm^-hm{Z {ddaU H$m eof)

(2) XrK©H$mbrZ CYma

12% G$UnÌ 5,00,000 4,00,000

(3) bKwH$mbrZ CYma

~¢H$ A{Y{dH$f© 1,70,000 1,75,000

(4) bKwH$mbrZ àmdYmZ

H$a àmdYmZ 2,00,000 1,65,000

(5) _yV© n[agån{Îm`m±

_erZar 26,00,000 20,00,000

KQ>m EH${ÌV _yë`õmg (2,00,000) (1,00,000)

24,00,000 19,00,000

(6) A_yV© n[agån{Îm`m±

»`m{V 4,00,000 3,00,000

(i) < 1,00,000, 12% G$UnÌm| H$m {ZJ©_Z 1 Aà¡b, 2021 H$mo {H$`m J`m &

(ii) < 80,000 bmJV H$s EH$ _erZar H$mo, {Og na EH${ÌV _yë`õmg < 40,000 Wm,
< 10,000 Ho$ A{Ybm^ na ~oMm J`m &

{Zdoe J{V{d{Y`m| VWm {dÎmr` J{V{d{Y`m| go 6

67/3/2 JJJJ Page 34

 Notes to Accounts :

Note 31.3.2022 31.3.2021

No. < <

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

(Surplus i.e. Balance in Statement
of Profit and Loss)
(2) Long-term Borrowings
12% Debentures 5,00,000 4,00,000
(3) Short-term Borrowings
Bank Overdraft 1,70,000 1,75,000
(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 . 6

67/3/2 JJJJ Page 35 P.T.O.

 ^mJ I
{dH$ën - II
(A{^H${bÌ boIm§H$Z)
27. (i) Z
Ûmam {H$`m OmVm h¡ AWm©V² : 1
(a) EH$b _mZ
(b) ^ÊS>m[aV _mZ
(c) ~hþ _mZ
(d) eyÝ` _mZ
AWdm
(ii) 1
(a)
(b)
(c)
(d)

28. {ZåZ{b{IV _| go H$m¡Z-

XoVm h¡ : 1
(a) S>oQ>m bo~b
(b) S>oQ>m gmaUr>
(c) S>oQ>m {~ÝXþ
(d) S>oQ>m _mH©$g©
29. (i) {ZåZ{b{IV _| go EH$ Cnm»`mZ (boO|S>) H$mo EH$ MmQ>© na nwZ:ñWm{nV {H$`m Om
gH$Vm h¡ : 1
(a) Ho$db {H$Zmao na
(b) H$ht ^r
(c) Ho$db Xm`t Amoa
(d) x-Aj Ho$ Vb na
AWdm
67/3/2 JJJJ Page 36
 PART B
OPTION II
(Computerised Accounting)

27. (i) Absence of data items is represented by one of the special values
from the following i.e. : 1
(a) Single value
(b) Stored value
(c) Multi value
(d) Null value

OR

(ii) The process of comparing input data with some unknown data is
called : 1
(a) Storage data
(b) Information data
(c) Data entry
(d) Data validation

28. Which of the following chart element details the data values and
categories below the chart : 1
(a) Data labels
(b) Data tables
(c) Data point
(d) Data markers

29. (i) From the following a legend can be repositioned on a chart : 1

(a) On the corner only
(b) Anywhere
(c) On right-side only
(d) On the bottom of x-axis

OR

67/3/2 JJJJ Page 37 P.T.O.

 (ii) {ZåZ{b{IV _| go H$m¡Z-go A{^H${bÌ boIm àUmbr Ho$ nm±M ñVå^ h¢ : 1
(a) , à{VdoXZ, ~hr, hmS>©do`a, gm°âQ>do`a
(b) , bmoJ, H$m`©{d{Y, hmS>©do`a, gm°âQ>do`a >
(c) bmoJ, H$m`©{d{Y, ~hr, , ImVm| Ho$ MmQ>©
(d) , H$moqS>J, H$m`©{d{Y, {Z`_, {ZJ©V
30. {ZåZ{b{IV _| go Cg boIm§H$Z gyMZm Cn-àUmbr H$mo nhMm{ZE {Oggo bmJV VWm ì``m|
H$s gyMZm àmá hmoVr h¡ : 1
(a) bmJV Cn-àUmbr
(b) -àUmbr
(c) ì`` boIm§H$Z Cn-àUmbr
(d) ApÝV_ ImVo Cn-àUmbr

31. A{^H${bÌ boIm§§H$Z àUmbr H$s {ZåZ{b{IV Xmo {deofVmAm| H$mo g_PmBE : 3
(i) gab Ed§ EH$sH¥$V
(ii) ewÕVm VWm J{V

32. Om{VJV gm°âQ>do`a VWm {d{eîQ> gm°âQ>do`a Ho$ _Ü` {H$Ýht VrZ AmYmam| na A§Va
ñnîQ> H$s{OE & 3

33. MmQ>© VWm J«m\$ H$mo n[a^m{fV H$s{OE & ì`dgm` Ho$ {bE CZHo$ H$moB© Xmo Cn`moJ Xr{OE & 4

AWdm
H$m¡Z-gr Ìw{Q> àX{e©V hmoVr h¡ O~ EH$ ZH$mamË_H$ {V{W AWdm g_` H$m Cn`moJ {H$`m
OmVm h¡ ? Amn BgH$m gwYma H¡$go H$a|Jo ? 4

34. Cg {dÎmr` H$m`© (\$bZ) H$m Zm_ Xr{OE Omo 5% Hy$nZ Xa Ho$ EH$ ~m°ÊS> na Cnm{O©V ã`mO
XoVm h¡ VWm Ohm± {Zdoe H$s -{dÝ`mg
^r g_PmBE & 6

67/3/2 JJJJ Page 38

 (ii) Which of the following are the five pillars of computerised
accounting system : 1
(a) Data, Report, Ledger, Hardware, Software
(b) Data, People, Procedure, Hardware, Software
(c) People, Procedure, Ledger, Data, Chart of Accounts
(d) Data, Coding, Procedure, Rules, Output

30. From the following, identify the Accounting information sub-system for
obtaining information about cost and expenses : 1
(a) Costing sub-system
(b) Cash and bank sub-system
(c) Expense accounting sub-system
(d) Final accounts sub-system

31. Explain the following two features of Computerised Accounting System : 3

(i) Simple and integrated
(ii) Accuracy and speed

32.
three bases. 3

33. 4
OR

Which error appears when a negative date or time is used ? How can you
correct it ? 4

34. Name the financial function which returns accrued interest on a bond
with 5% coupon rate and where issue and settlement date of investment
is also given. Also explain its syntax. 6

67/3/2 JJJJ Page 39 P.T.O.

 STRICTLY CONFIDENTIAL: (FOR INTERNAL AND RESTRICTED USE ONLY)
SENIOR SCHOOL CERTIFICATE EXAMINATION 2023
MARKING SCHEME – ACCOUNTANCY (SUBJECT CODE—055)
(PAPER CODE—67/3/2)

General Instructions: -
1 You are aware that evaluation is the most important process in the actual and correct assessment of
the candidates. A small mistake in evaluation may lead to serious problems which may affect the
future of the candidates, education system and teaching profession. To avoid mistakes, it is requested
that before starting evaluation, you must read and understand the spot evaluation guidelines carefully
2 “Evaluation policy is a confidential policy as it is related to the confidentiality of the
examinations conducted, Evaluation done and several other aspects. Its’ leakage to public in
any manner could lead to derailment of the examination system and affect the life and future of
millions of candidates. Sharing this policy/document to anyone, publishing in any magazine
and printing in News Paper/Website etc may invite action under various rules of the Board and
IPC.”
3 Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done
according to one’s own interpretation or any other consideration. Marking Scheme should be strictly
adhered to and religiously followed. However, while evaluating, answers which are based on
latest information or knowledge and/or are innovative, they may be assessed for their
correctness otherwise and due marks be awarded to them.
4 The Marking scheme carries only suggested value points for the answers.These are in the nature of
Guidelines only and do not constitute the complete answer. The students can have their own
expression and if the expression is correct, the due marks should be awarded accordingly.
5 The Head-Examiner must go through the first five answer books evaluated by each evaluator on the
first day, to ensure that evaluation has been carried out as per the instructions given in the Marking
Scheme. If there is any variation, the same should be zero after deliberation and discussion. The
remaining answer books meant for evaluation shall be given only after ensuring that there is no
significant variation in the marking of individual evaluators
6 Evaluators will mark( √ ) wherever answer is correct. For wrong answer CROSS ‘X” be marked.
Evaluators will not put right (✓)while evaluating which gives an impression that answer is correct
and no marks are awarded. This is most common mistake which evaluators are committing.
7 If a question has parts, please award marks on the right-hand side for each part. Marks awarded for
different parts of the question should then be totaled up and written in the left-hand margin and
encircled. This may be followed strictly
8 If a question does not have any parts, marks must be awarded in the left-hand margin and encircled.
This may also be followed strictly
9 If a student has attempted an extra question, answer of the question deserving more marks should be
retained and the other answer scored out with a note “Extra Question”.
10 No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
11 A full scale of marks 80 has to be used. Please do not hesitate to award full marks if the answer
deserves it.
12 Every examiner has to necessarily do evaluation work for full working hours i.e., 8 hours every day
and evaluate 20 answer books per day in main subjects and 25 answer books per day in other
subjects (Details are given in Spot Guidelines)
1
13 Ensure that you do not make the following common types of errors committed by the Examiner in
the past:-
● Leaving answer or part thereof unassessed in an answer book.
● Leaving answer or part thereof unassessed in an answer book.
● Wrong totaling of marks awarded on an answer.
● Wrong transfer of marks from the inside pages of the answer book to the title page.
● Wrong question wise totaling on the title page.
● Wrong totaling of marks of the two columns on the title page.
● Wrong grand total.
● Marks in words and figures not tallying/not same.
● Wrong transfer of marks from the answer book to online award list.
● Answers marked as correct, but marks not awarded. (Ensure that the right tick mark is correctly
and clearly indicated. It should merely be a line. Same is with the X for incorrect answer.)
● Half or a part of answer marked correct and the rest as wrong, but no marks awarded.
14 While evaluating the answer books if the answer is found to be totally incorrect, it should be marked
as cross (X) and awarded zero (0) marks
15 Any un assessed portion, non-carrying over of marks to the title page, or totaling error detected by
the candidate shall damage the prestige of all the personnel engaged in the evaluation work as also of
the Board. Hence, in order to uphold the prestige of all concerned, it is again reiterated that the
instructions be followed meticulously and judiciously.
16 The Examiners should acquaint themselves with the guidelines given in the “Guidelines for spot
Evaluation” before starting the actual evaluation.
17 Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title
page, correctly totaled and written in figures and words.
18 The candidates are entitled to obtain photocopy of the Answer Book on request on payment of the
prescribed processing fee. All Examiners/Additional Head Examiners/Head Examiners are once
again reminded that they must ensure that evaluation is carried out strictly as per value points for
each answer as given in the Marking Scheme.

2
 MARKING SCHEME
Senior School Certificate Examination, 2023
ACCOUNTANCY [ Paper Code — 67/3/2]
Q. No. EXPECTED ANSWER / VALUE POINTS Marks

PART A
(Accounting for Partnership Firms and Companies)
1. (i) Q. A share of ₹10 issued at a premium…… 1 mark
Ans. (d) ₹6
OR OR
(ii) Q. A share of ₹ 100 on which ₹70 has been….
1 mark
Ans. (b) ₹30

2. Q. Assertion(A): Interest on partners loan is debited……

Ans. (c ) Both Assertion (A) and Reason (R) are correct. 1 mark

3. Q. Gopal, Krishna and Govind are partners…..

Ans. (d) 2:1 1 mark

4. (i) Q. Keshav and Karan were partners…..

Ans. (b) ₹ 3,00,000 1 mark
OR OR
(ii) Q. A and B were partners in a firm…
Ans. (c) Nil 1 mark

5. (i) Q. ___________ is the basis of…… 1 mark

Ans. (b) Agreement
OR OR
(ii) Q. At the time of change in profit ……
1 mark
Ans. (c) Old profit-sharing ratio

6. (i) Q. Sunbeam Ltd. Issued 20,000, 11%... 1 mark

Ans. ( c) ₹1,00,000
OR OR
(ii) Q. Nargis Ltd. purchased assets of ₹8,00,000…….
1 mark
Ans. (b) 5,000

7. (i) Q. Mehak and Ravish were partners in ….. 1 mark

Ans. (c) Mrs. Ravish’s loan
OR OR
(ii) Q.Surbhi and Leena were partners….
1 mark
Ans. (a) 1/10
3
8. Q. Sunbeam Limited issued 4,000, ………
Ans. ( c) ₹4,00,000 1 mark

Read the following hypothetical situation……

9. Q. Vikram and Sumit were partners in a firm….

Ans. (a) ₹45,000 1 mark

10. Q. The final amount of profit distributed…

Ans. (d) Anu ₹45,000; Charu ₹30,000; Divya ₹75,000 1 mark

11. Q. Divya’s amount of guarantee is short…..

Ans. (c) ₹15,000 1 mark

12. Q. Average capital employed in a firm ….

Ans (c) ₹2,40,000 1 mark

13. Q. X Ltd. forfeited 100 shares….

Ans (c) Credited by ₹500 1 mark

14. Q. A portion of the uncalled capital…..

Ans (a) Reserve Capital 1 mark

15. Q. If a fixed amount is withdrawn by a partner…..

Ans (d) 6 ½ months 1 mark

16. Q. Aditi and Bobby were partners…..

Ans (b) ₹ 60,000 1 mark

17. (a) Q. M Ltd. issued 10,000, 8% Debentures…….

Ans.
Books of M Ltd.
JOURNAL
Date Particulars LF Dr. Cr.
Amount Amount
(₹) (₹)
(i)
Bank A/c Dr. 6,00,000 (½)
To Debenture Application A/c 6,00,000
(Application money received on 10,000
8% Debentures) +
_________________________________

4
 (ii)
Debenture Application A/c 6,00,000
(1)
Dr. 6,00,000
To 8% Debentures A/c
(Debenture Application money +
transferred to 8% Debenture A/c)
_________________________________
(iii) 3,40,000 (1)
Debenture Allotment A/c
Dr.
60,000
Discount / Loss on Issue of +
4,00,000
Debentures A/c
Dr.
To 8% Debenture A/c
( ½)
(Allotment money due on 10,000
debentures) =3
marks
_________________________________ 3,40,000
(iv) 3,40,000
Bank A/c Dr.
To Debenture Allotment A/c
(Allotment money received) OR
______________________________

OR

(b) Q. A company forfeited 4,000 shares……

Ans. Books of ….

JOURNAL
Date Particulars LF Dr. Cr.
Amount Amount
(₹) (₹)
(i)
Share Capital A/c Dr. 40,000
To Share Forfeiture A/c 12,000
To Calls- in – Arrears A/c 28,000 (1)
(4,000 shares forfeited for non-payment of
₹7 per share)
_________________________________ +
(ii)
5
 Bank A/c Dr.
Share Forfeiture A/c Dr. 18,000
To Share Capital A/c 2,000
(1)
(2,000 forfeited shares reissued) 20,000
________________________________
(iii) +
Share Forfeiture A/c Dr.
To Capital Reserve A/c 4,000 (1)
(Gain on reissue of shares transferred to 4,000
Capital Reserve)
_________________________________ =3
marks

18. (a) Q. Raman, Manan and Naman were partners…..

Ans.
Books of Raman, Manan and Naman
JOURNAL
Date Particulars LF Dr. Cr.
Amount Amount
(₹) (₹)
Raman’s Capital A/c Dr. 180
Naman’s Capital A/c Dr. 630 (1)
To Manan’s Capital A/c 810
(Adjustment entry for Interest on Drawings
wrongly charged)

Working Notes:

Particulars Raman Manan Naman

₹ ₹ ₹ (2)
Interest on Drawings , now credited 1,080 1,440 -
Loss to be debited (₹2,520 in 2:1:1) (1,260) (630) (630) =3
marks
Adjustment 180 Dr 810 Cr 630 Dr

(NOTE: Full credit be given if working notes are prepared in any other form)
OR
OR

(b) Q. Arun and Barun were partners sharing……

6
 Ans.

Profit & Loss Appropriation A/c

for the year ended on March 31, 2022
Dr Cr
Particulars Amount Particulars Amount
₹ ₹
To Interest on Capital A/c By P & L A/c 23,800 ½
Arun -3,000 (₹26,800-₹3,000)
Barun-1,800 4,800 1

To Salary A/c
Barun =3
4,000 ½
marks
To Profit transferred to
Partners’ Capital A/c:
Arun -9,000
Barun-6,000 15,000 1

23,800 23,800

19. Q. Kanak, Kamal and Kanha are partners….

Ans. (i) Calculation of Kanak’s share of profit:

Profit for 6 months= 6,00,000 x 2,00,000 x 1

20,00,000 6 (2)
= ₹ 10,000

Books of Kanak, Kamal and Kanha

JOURNAL +

Date Particulars LF Dr. Cr.

Amount Amount
(₹) (₹)
2021
Sep 30 Profit & Loss Suspense A/c Dr. 10,000 (1)
To Kanak’s Current A/c 10,000
(Kanak’s share of profit till date of death)

7
 =3
marks

20. Q. Sunny, Vaibhav and Mita were partners in a firm sharing……

Ans
Calculation of new capitals of Partners

Total capital of the new firm= ₹1,00,000 + ₹50,000

= ₹1,50,000

Vaibhav’s new capital= ₹1,50,000 x 3/5

= ₹90,000 (½)

Mita’s new capital= ₹1,50,000 x 2/5 +

= ₹60,000
(½)

Books of Sunny, Vaibhav and Mita

JOURNAL +

Date Particulars LF Dr. Cr.

Amount Amount
(₹) (₹)
2022 (i) 10,000
Mar 31 Vaibhav’s Capital A/c Dr 10,000
To Cash A/c / Bank A/c
(1)
( Amount withdrawn by Vaibhav
for capital adjustment)
+
__________________________
Mar 31 Cash A/c / Bank A/c Dr 10,000
To Mita’s Capital A/c 10,000
( Amount brought in by Mita for
capital adjustment) (1)
__________________________
=3
marks

8
21. Q. Ravi, Kavi and Chand were partners sharing…..
Ans
Dr Realisation A/c Cr
Particulars Amount Particulars Amount
₹ ₹
To Land & Building A/c 3,50,000 By Provision for
To Stock A/c (½) 3,00,000 Doubtful Debts A/c 10,000
To Debtors A/c 2,00,000 By Creditors A/c (½) 70,000
By Mrs. Chand’s Loan 20,000
To Ravi’s Capital A/c (½) 20,000
To Cash A/c (½) 40,000 By Cash A/c (1)
Land & Building
and stock 6,00,000
Debtors 1,80,000 7,80,000

By Loss transferred to
Partners’ Capital A/c: (1)
Ravi 15,000
Kavi 9,000 =4
30,000
Chand 6,000 marks

9,10,000 9,10,000

22. Q. On 1st April, 2021, Prabha Ltd. was formed with an authorized capital……
Ans.
Prabha Ltd
BALANCE SHEET (extract)
As at 31st March, 2022
Particulars Note Amount
No. (₹)
I. Equity and Liabilities
1. Shareholders Funds
(a) Share Capital 1 79,82,000 (1)

Notes to Accounts:
+
Particulars Amount
₹
1. Share Capital
Authorised Capital
90,000 equity shares of ₹100 each 90,00,000
(1)

9
 Issued Capital +
80,000 equity shares of ₹100 each 80,00,000
(1)

Subscribed Capital +
Subscribed & fully paid-up
79,400 equity shares of ₹100 each
79,40,000 (1/2)
Subscribed but not fully paid-up
600 equity shares of ₹100 each 60,000 +
Less: Calls- in – Arrears 18,000
(1/2)
42,000
79,82,000 = 4
marks

23. (a) On 31st March, 2022 the Balance Sheet of…….

Ans.
Dr. REVALUATION A/c Cr.
Particulars Amount Particulars Amount
₹ ₹
To Outstanding Salaries A/c 2,000 By Bad Debts
( ½) Recovered A/c (½) 12,000
To Profit on Revaluation
transferred to Partners’ (2)
Capital A/c (1) 10,000
A – 6,000
B – 4,000
12,000 12,000
+

10
 Dr. PARTNERS’ CAPITAL A/c Cr.
Particulars A B C Particulars A B C
₹ ₹ ₹ ₹ ₹ ₹
To Bal c/d 2,12,200 1,74,800 1,00,000 By Bal b/d 1,60,000 1,40,000 -
½ ½
By General
Reserve A/c 15,000 10,000 -
½
By Investment
Fluctuation
Reserve A/c 1,200 800 -
(4)
½
By Premium for
Goodwill A/c
1 30,000 20,000 -

By Revaluation 6,000 4,000 -

A/c ½

By Bank A/c - - 1,00,000

½
=6
2,12,200 1,74,800 1,00,000 2,12,200 1,74,800 1,00,000 marks

OR
OR

(b ) Q. Anita, Geeta and Sita were partners in a firm…..

Ans.

Dr. REVALUATION A/c Cr.

Particulars Amount Particulars Amount
₹ ₹
To Bad Debts A/c ½ 10,000 By Land & Building A/c 1,23,000
To Provision for Doubtful ½
Debts A/c ½ 13,000
To Profit transferred to (2)
Partners Capital A/c’s:
½
Anita- 40,000
Geeta- 40,000 1,00,000
Sita- 20,000
1,23,000 1,23,000
+

11
 Dr. PARTNERS’ CAPITAL A/c Cr.
Particulars Anita Geeta Sita Particulars Anita Geeta Sita
₹ ₹ ₹ ₹ ₹ ₹
To Anita’s - 80,000 40,000 By Bal b/d 2,00,000 2,00,000 1,00,000
Capital A/c
By General 12,000 12,000 6,000
To Bank A/c 80,000 - - Reserve A/c

To Anita’s By Geeta’s ½ x8
Loan A/c 2,92,000 - - Capital A/c 80,000 - -

By Sita’s - -
No
To Bal c/d - 1,72,000 86,000 Capital A/c 40,000 marks
for Bal
By b/d
Revaluation 40,000 40,000 20,000
A/c
3,72,000 2,52,000 1,26,000 3,72,000 2,52,000 1,26,000 (4)
=6
marks

24. Q. Trisha, Anisha and Rishika were partners……

Ans.
Dr. Trisha’s Capital A/c Cr.
Particulars Amount Particulars Amount
₹ ₹
To Drawings A/c 20,000 By Bal b/d 3,00,000
To Trisha’s Executors A/c 4,60,000 By General Reserve A/c 20,000
½ x8
By Salary to Trisha 20,000
By Anisha’s Capital A/c 80,000 (4)
By Rishika’s Capital A/c 40,000
By P&L Suspense A/c 20,000

4,80,000 4,80,000 +

Working Notes:
(½)
(i) Share of Profit= 150000 x4 x 2 = `20,000
12 5 +
(ii) Goodwill of the Firm= 4,50,000 x 2 =`3,00,000
3
(1)
Trisha’s share of Goodwill = 3,00,000 x 2/5 = `1,20,000
+

(iii) Salary to Trisha = 15,000 + 15,000 = `20,000 (½)

3 =6
marks

12
25. (a) Q. Lotus Ltd. invited applications for issuing…….
Ans. Books of Lotus Ltd.
JOURNAL
Date Particulars LF Amount Amount
Dr (₹) Cr (₹)
(i)
Bank A/c Dr 7,00,000
To Equity Share Application A /c 7,00,000
(Application money received on 1,40,000 (½)
shares)
_________________________________ +
(ii)
Equity Share Application A/c Dr 7,00,000
To Equity Share Capital A/c 4,00,000 (1)
To Equity Share Allotment A/c 3,00,000
(Application money transferred to Share
Capital and excess amount adjusted to
Share Allotment A/c)
_________________________________
(iii) +
Equity Share Allotment A/c Dr. 7,20,000
To Equity Share Capital A/c 4,00,000
To Securities Premium / Securities 3,20,000 (1)
Premium Reserve A/c
(Share allotment money due at premium)
_________________________________
+
(iv)
Bank A/c Dr. 4,15,800
Calls- in- Arrears A/c Dr. 4,200
To Equity Share Allotment A/c 4,20,000
(Allotment money received except on 800
shares)

Alternatively (1 )

Bank A/c Dr. 4,15,800

To Equity Share Allotment A/c 4,15,800
(Allotment money received except on 800 +
shares)
_________________________________

13
 (v)
Equity Share Capital A/c Dr. 8,000
(1)
Securities Premium / Securities
Premium Reserve A/c Dr. 3,200
To Calls-in –Arrears A/c 4,200
To Share Forfeiture A/c 7,000
(800 shares forfeited for non- payment of
allotment money)

Alternatively
Equity Share Capital A/c Dr. 8,000
+
Securities Premium / Securities
Premium Reserve A/c Dr. 3,200
To Equity Share Allotment A/c 4,200
To Share Forfeiture A/c 7,000
(800 shares forfeited for non- payment of
allotment money)
_________________________________
(vi)
Bank A/c Dr.
7,200 (1)
Share Forfeiture A/c Dr.
800
To Equity Share Capital A/c
8,000
(Reissue of forfeited shares)
________________________________
(vii) +
Share Forfeiture A/c Dr.
6,200
To Capital Reserve A/c (½)
6,200
(Gain on reissue of shares transferred to
Capital Reserve)
_________________________________ =6
marks

OR OR
(b) Q. Tulip Ltd. invited applications for ……
Ans Books of Tulip Ltd.
JOURNAL
Date Particulars LF Amount Amount
Dr (₹) Cr (₹)
(i)
Bank A/c Dr. 12,00,000
(½ )
To Equity Share Application A/c 12,00,000

14
(Application money received on 3,00,000 +
shares)
________________________________
(ii)
Equity Share Application A/c Dr. 12,00,000
To Equity Share Capital A/c 4,80,000
To Securities Premium A/c / (1 ½ )
Securities Premium Reserve A/c 4,80,000
To Equity Share Allotment A/c 2,40,000
(Application money transferred to Share
Capital and Securities Premium; excess
amount adjusted to Share Allotment A/c)
________________________________ +
(iii)
Equity Share Allotment A/c Dr. 9,60,000
To Equity Share Capital A/c 9,60,000
(½)
(Allotment money due on 2,40,000
shares)
________________________________
(iv) +
Bank A/c Dr 7,02,000
Calls- in Arrears A/c Dr 18,000
To Equity Share Allotment A/c 7,20,000 (1 ½ )
(Allotment money received)
________________________________
+
(v)
Equity Share First & Final Call A/c Dr 14,40,000
To Equity Share Capital A/c 9,60,000
To Securities Premium A/c /
Securities Premium Reserve A/c 4,80,000 (1)
(Share First & Final Call money due)
________________________________
(vi) +
Bank A/c Dr. 14,04,000
Calls- in- Arrears A/c Dr. 36,000
(1)
To Equity Share First & Final Call A/c 14,40,000
(Share first and final call money received
except on 6,000 shares)
________________________________
=6
marks

15
26. (a) Q. On 1st April, 2021 LM Ltd. issued…..
Ans Books of LM Ltd.
JOURNAL
Date Particulars LF Amount Amount
₹ ₹
2021 (i)
Apr 1 Bank A/c Dr. 40,50,000
To Debenture Application & 40,50,000
Allotment A/c (1)
(Application money received on 90,000)
__________________________________
(ii) +
Debenture Application &
Allotment A/c Dr. 40,50,000
Discount / Loss on issue of
Debentures A/c Dr. 4,50,000
(1)
To 9% Debentures A/c 45,00,000
(debentures issued at 10% discount)
__________________________________
2022 (iii)
Mar Statement of Profit & Loss Dr. 2,75000
31 Securities Premium / Securities +
Premium Reserve A/c Dr. 1,75,000
To Discount / Loss on Issue of
(1)
Debentures A/c 4,50,000
(Discount / loss on issue of debentures
written off)
__________________________________

(b)On 1st April, 2022, KR Ltd. acquired…..

Ans
Books of KR Ltd.
JOURNAL +
Date Particulars LF Dr. Cr.
Amount ₹ Amount ₹
2022 (i)
Apr 1 Sundry Assets A/c Dr. 50,00,000
To Sundry Liabilities A/c 10,00,000
To SM Ltd 40,00,000 (1)
(Assets acquired and liabilities taken
over from SM Ltd)
_________________________________
16
 (ii) +
SM Ltd Dr
To Bank A/c 15,00,000
(½)
(Purchase consideration partially settled 15,00,000
by issuing a crossed cheque)
+
_________________________________
(iii)
SM Ltd Dr
To Bills Payable A/c 5,00,000 (½)
(Purchase consideration partially settled 5,00,000
by accepting a bill of exchange)
(iv)
+
SM Ltd Dr
To 10% Debentures A/c 20,00,000
To Securities Premium A/c / 16,00,000 (1)
Securities Premium Reserve A/c 4,00,000
(Remaining Purchase consideration
settled by issuing 16,000 12% debentures
at premium)

Alternatively (for (ii)+(iii)+(iv))

SM Ltd Dr
40,00,000
To Bank A/c
15,00,000
To Bills Payable A/c
5,00,000
To 10% Debentures A/c
16,00,000
To Securities Premium A/c /
4,00,000
Securities Premium Reserve A/c
(Purchase consideration settled by
issuing a crossed cheque, accepting a bill
of exchange and issuing 16,000 12%
debentures at premium) =6
_________________________________ marks

PART B
OPTION - I
(Analysis of Financial statements)

27. Q. Which of the following transactions…..

Ans (a) Furniture costing ₹80,000 sold for ₹75,000 1 mark

17
28. (i) Q. Which of the following is not……
Ans (c) Proprietary Ratio 1 mark
OR
OR
(ii)Q. Which of the following is a tool…..
Ans (a) Cash Flow Statement
1 mark

29. Q. Which of the following transactions is not…..

Ans (a) Purchase of marketable securities ₹25,000 1 mark

30. (i) Q. The Debt- Equity Ratio of a company ……..

Ans (b) Issue of 9% Debentures ₹4,00,000 1 mark
OR
OR
(ii)Q. During the year ended 31st March, 2022…..
Ans (b) 3 times 1 mark

31. Q. Classify the following items under major heads….

Ans
Item Major head Sub head ½ mark
each
(i)Stores and Spares Current Assets Inventories
(ii) Capital Advances Non-Current Assets Long term loans and =½ x6
advances
(iii)Outstanding Current Liabilities Other Current Liabilities =3
Expenses marks
32. Q. ‘ It is a technique which involves regrouping………
Ans Ratio Analysis
Advantages of Ratio Analysis ( any two): (1)
(i) It helps to understand efficacy of decisions.
+
(ii) It simplifies complex figures and establishes relationships.
(iii) It is helpful in comparative analysis. 1x2
(iv) It helps in identification of problem areas.
(v) It enables SWOT analysis. =3
(vi) It helps comparisons with various benchmarks. marks

33. (a) Q. Calculate Gross Profit Ratio from ……

Ans. Gross Profit Ratio = Gross Profit x 100 (1/2)

Revenue from Operations

Credit Revenue from Operation =Trade Receivables x Average Trade

Turnover Ratio Receivables
= 6 x 2,00,000
18
 = ₹12,00,000 (1)

Then, Revenue from operations = Cash revenue from operations + Credit revenue
from operations

x = x + 12,00,000
4
3x = 12,00,000
4

x =
12,00,000 x 4
3 (1)
Revenue from Operations or x = ₹16,00,000

Cost of Revenue from Operations= Average Inventory x Inventory

Turnover Ratio
= 8 x 1,60,000
= ₹12,80,000 (½)

Gross Profit= Revenue from operations - Cost of revenue from operations

Now, Gross profit = 16,00,000 - 12,80,000

= ₹3,20,000 (½)

Gross Profit Ratio= 3,20,000 x 100 = 20%

(½)
16,00,000
=4
marks
OR OR

(b)Q. From the following information, calculate……

Ans Working Capital Turnover Ratio = Revenue from Operations (1)

Working Capital

Revenue from Operations = Cost of Revenue from Operations + Gross Profit

x = 3,20,000 + x/5

4x = 3,20,000
5 (1)
Revenue from Operations or x = ₹ 4,00,000

19
 Working capital= Capital Employed- Non Current Assets
= 1,00,000 - 80,000
=20,000 (1)

Now, Working Capital Turnover ratio= 4,00,000

20,000

= 20 times
(1)

=4
marks

34. Q. Read the following hypothetical text…

Ans Azad Ltd.

Cash Flows from Investing Activities
Particulars Details Amount
₹ ₹
Purchase of Machinery (6,80,000) ½
Sale of Machinery 50,000 ½
(1,00,000) ½
(2 ½ )
Purchase of Intangible Assets
1,00,000 ½
Sale of Non- Current Investments
Net Cash used in Investing Activities (6,30,000) ½
+
Cash Flows from Financing Activities
Particulars Details Amount
₹ ₹
Proceeds from issue of share capital 2,00,000 ½
Proceeds from 12% Debentures 1,00,000 ½
Repayment of Bank Overdraft (5,000) ½ (2 ½ )
Payment of Interest on 12% Debentures (60,000) ½
Net Cash inflow from Financing Activities 2,35,000 ½

Working Notes:

20
 Dr Machinery A/c Cr
Particulars Amount Particulars Amount
₹ ₹
To Bal b/d 20,00,000 By Accumulated
To Gain on sale of Depreciation A/c 40,000 (1)
Machinery A/c 10,000 By Bank A/c 50,000
To Bank (b/f) 6,80,000 By Bal c/d 26,00,000
(purchase)
26,90,000 26,90,000

Dr Accumulated Depreciation A/c Cr

Particulars Amount Particulars Amount
₹ ₹
To Accumulated By Bal b/d 1,00,000
Depreciation A/c 40,000 By Depreciation A/c /
To Bal c/d 2,00,000 Statement of Profit & Loss 1,40,000

2,40,000 2,40,000

=6
marks

PART B
OPTION – II
(Computerised Accounting)

27. (i) Q. Absence of data items is represented…..

Ans (d) Null Value 1 mark
OR
OR
(ii)Q. The process of comparing input….
Ans (d) Data validation 1 mark
28. Q. Which of the following chart elements details…..
Ans (a) Data labels 1 mark

29. (i) Q. From the following a legend can be……

Ans (b) Anywhere 1 mark
OR
OR
(ii)Q. Which of the following are the five pillars….
Ans (b) Data, People, Procedure, Hardware, Software 1 mark

21
30. (i)From the following, identify the Accounting information….
Ans (a) Costing sub-system 1 mark

31. Q. Explain the following two features……

(i) Simple and integrated
(ii) Accuracy and speed
Ans (i) Simple and Integrated
• Designed to automate and integrate all business operations. (1 ½)
• Accuracy in information along with latest information.
• It has multilingual and Data Organisation capabilities to simplify all the business
+
processes of the organisation easily and cost effectively.

(ii) Accuracy and speed

• Provides user-definable templates (Data entry screen or forms) (1 ½)
• Which leads to accurate and fast data entry of the transactions.
=
• It helps in generalising desired documents and reports.
3 marks

32. Q. Differentiate between ‘Generic software’ and ‘Specific software’ on any

three bases.
Ans. Difference between ‘Generic software’ and ‘Specific software’ (any three):

Bases Generic software Specific software

(i)Nature of business Small, conventional Large and medium
1x3
business business
(ii) Cost of installation Low Relatively high
(iii) Expected level of secrecy Low Relatively high
(iv) No. of users and their Limited As per specification
interface 3 marks
(v) Linkage to other Restricted Yes
information system
(vi) Adaptability High Relatively high
(vii) Training requirements Low Medium

33. Q. Define ‘Charts’ and ‘Graphs’. Give their any two uses for business.
Ans Graph is the pictorial representation of data which has at least 2 dimensional (1)
relationships. +
(1)
Chart is a representation of multiple subgroups of single variable and bar
diagrams depict two or more variables. 1 mark
Uses of charts and graphs (Any two): for each
use
22
 (i) Helps to explore.
(ii) Helps to present. = 1+1+2
(iii) Helps to convince. =4
marks

OR
OR

Q. Which error appears when a negative date or time is used? How can you
correct it?
Ans Correct a ##### error appears when a negative time or date is used in excel. (1)
• To correct it one must check with the window control panel. The default time
and date format is based on regional date and time setting that are specified
in window control panel and changes when changes are made to those
settings.
+
• If one is using 1900 date system the date and times in excel must be positive
values.

• When we subtract dates and times, make sure that we build the formula
correctly.

• If the formula is correct but the result is still a negative value, we can display (3)
the value by formatting the cell with a format that is not a date or time format.

• On the home tab in the cells group click format, click format cells and then
click number tab.
=4
• Select a format that is not a date or time format.
marks

34. Q. Name the financial function which returns accrued……

Ans The name of the financial function is ACCRINT. (1)
Its syntax is
ACCRINT (issue, first_interest, settlement, rate, par, frequency, basis
+
calc_method).
Where
Issue : is the security’s issue date.
First_interest : is the security’s first interest date. (5)
Settlement : is the security’s settlement date. The security settlement date is the
date after the issue date when the security is traded to the buyer.
Rate : is the security’s annual coupon rate.
Par : is the security’s par value. By default par is 1000.
=6
Frequency : is the number of coupon payments per year for annual payments. marks
Basis : is the type of day count basis to use.
23
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