KENDRIYA VIDYALAYA SANGATHAN, CHANDIGARH REGION

MARKING SCHEME, PRE-BOARD -I, 2024-25

CLASS: XII SUBJECT: ACCOUNTANCY

Q.NO MAR
. KS
PART A- ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES
1 D) Rs. 3,200 1
2 A)Maintained OR B)To distribute profit and loss for the year among partners 1
3 D) Rs. 4 per share 1
4 D) 12:13:5 1
5 B) Rs.55,000 1
6 A) 4.5 months 1
7 B)Dr. With called- up amount of shares 1
8 C) Rs. 40,000 OR B) Rs. 24,000 1
9 D) Rs. 30,000 1
10 C) (A ) is true but (R ) is false. 1

11 A) 10,00,000 OR C) Rs.2,00,000 and Rs 3,50,000 1

12 A)Dr. with Rs, 1,000 OR B) Rs. 2,600 1
13 C))It is that part of issued capital which has been actually applied by and alloted to the 1
public . OR
A) interest on debentures is an appropriation of profits
14 d) ₹ 1,00,800, ₹ 67,200, ₹ 60,000 1
15 A)Rs. 54,000 Loss
16 (a) Both Statements are correct.
17 Land & Buildings A/c Dr. 5,20,000 3
Goodwill A/c Dr. 30,000
To Creditors A/c 1,00,000
To Ryan Ltd. 4.50,000

Ryan Ltd. Dr. 4,50,000

To Bank A/c 90,000
To Equity Share Capital A/c 3,00,000

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 To Securities premium A/c 60,000

OR
Plant & Machinery A/c Dr. 6,00,000
To Bills Payable A/c 1,20,000
To Shubham Ltd. 4,70,000
To Capital Reserve A/c 10.000

Shubham Ltd. A/c Dr. 4,70,000

Discount on issue of Debentures A/c Dr 40,000
To Bank A/c 1,10,000
To Debentures A/c 4,00,000
18 3
Particulars Arsh Mohit FIRM
Dr. Cr. Dr. Cr. Dr. Cr.
Profits taken back 60,000 60,000 1,20,000
IOC to be Cr. 38,000 47,000 85,000
IOD to be Dr. 900 900 1,800
Remaining profits 18,400 18,400 36,800
in 3:2 ratio
60,900 56,400 60,900 65,400 121800 1,21,800
Adjustment Entry: Arsh’s Capital A/c Dr 4,500
To Mohit’s Capital A/c 4,500
Arsh Mohit
Opening Capital: Capital at end 4,00,000 5,00,000
+Drawings 40,000 30,000
- Profits 60,000 60,000
3,80,000 4,70,000
1 mark for adjustment table, 1 mark for opening capital, 1 mark for adjustment entry
OR
Particulars Amount Particulars Amount
To Interest on Capital A/c By Profit & Loss A/c 4,00,000
-Himani Capital A/c 90,000 2,20,000 (1/2
-Darishti Capital A/c 70,000 (1 mark) mark)
-Ankita Capital A/c 60,000

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 To Commission A/c
-Himani Capital A/c 30,000
(20/120*1,80,000) (1
mark)
To net profit transferred to :
-Himani Capital 50,000
-Darishti Capital 50,000 1,50,000
-Ankita Capital 50,000 (1/2
mark)
4,00,000 4,00,000
19 Normal profits = Capital employed * NRR/100
= 6,00,000*10/100
= Rs. 60,000 1/2 mark
Average profits = Normal Profits + 15,000
= 60,000+15,000
= Rs.75,000 1/2 mark
Super profits = Average Profits- Normal profits
= 75,000- 60,000
= Rs. 15,000 1/2 mark
I) Goodwill = Super profits*3
=15,000*3
= 45,000 1/2 mark
II) Capitalised value = Average profits *100/NRR
= 75,000*100/10
= 7,50,000 1/2 mark
Goodwill = Capitalised Value- Capital Employed
= 7,50,000- 6,00,000
=1,50,000 1/2 mark
20 I) A- Rs. 20,000 3
II) A- Dr by 70,000
III) B- Rs. 60,000
21 I) B- 40,000 4
II) C- 10% Discount
III) D- Rs. 4,24,500 (%,00,000+20,000+12,000-65,000-42,500)

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 IV) A- Rs. 1,00,000
22 Balance Sheet 4
EQUITY & LIABILITIES Note No. Amount (Rs.)
Shareholders Funds
Share Capital 45,10,000

Notes to Accounts Note No. Amount (Rs.)

Share Capital
Authorised Capital
60,000 Equity shares @ 100 each 60,00,000
Issued CapitalI
50,000 Equity shares @ 100 each 50,00,000
Subscribed Capital
Subscribed and fully paid up
2,000 Equity shares @ 100 each 2,00,000
Subscribed but not fully paid up
48,000 Equity shares @ 90 each 43,20,000
Less: call in arrears (500*20) (10,000) 43,10,000
45,10,000

23 Nick’s Capital A/c 6

Particulars Rs. Particulars Rs.
To P & L A/c 10,000 By Balance b/d 5,00,000
To Nick’s Executor A/c 5,90,000 By Reserve A/c 50,000
By Interest on capital A/c 25,000
By Profit & Loss Suspense
A/c
10,000
By Naman’s Capital A/c
10,000
By Namit’s Capital A/c
5,000

6,00,000 6,00,000
_______

Nick’s Executors A/c

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 Particulars Rs. Particulars Rs.
To Bank A/c 4,00,000 By Aanya’s Capital A/c 5,90,000
To Nick ‘s Executors 1,90,000
Loan A/c
5,90,000 5,90,000
24 6
JOURNAL
Date Particulars L.F Debit (Rs.) Credit (Rs.)
Bank A/c ..Dr. 5,20,000
To Share Application A/c 5,20,000
Share Application A/c ..Dr 5,20,000
To Share capital A/c 3,20,000
To Bank A/c 80,000
To Share Allotment A/c 1,20,000
Share Allotment A/c ..Dr 2,40,000
To Share Capital A/c 80,000
To Securities premium A/c 1,60,000
Bank A/c ..Dr 1,14,000
Calls in arrear A/c ..Dr 6,000
To Share Allotment A/c 1,20,000
Share Capital A/c ..Dr 20,000
Securities premium Reserve ..Dr 6,000
To Calls in arrears A/c 6,000
To Share Forfeited A/c 20,000
Bank A/c ..Dr 16,000
Share Forfeited A/c ..Dr 4,000
To Share Capital A/c 20,000
Share Forfeited A/c ..Dr 6,000
To Capital Reserve A/c 6,000

OR

A) JOURNAL
Date Particulars L.F. Debit (Rs.) Credit (Rs.)
Share Capital A/c. Dr. 20,000
Securities premium Reserve Dr 2,000
To Calls in Arrears A/c 10,000
12,000
To Share Forfeited A/c
Bank A/c. Dr. 12,000
3,000
Share Forfeited A/c. Dr 15,000
To Share Capital A/c.
Share Forfeited A/c. Dr 6,000
To Capital Reserve A/c. 6,000

B) JOURNAL
Date Particulars L.F. Debit (Rs.) Credit (Rs.)
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 Share Capital A/c. Dr. 36,000
To Calls in Arrears A/c
8,000
To Share Forfeited A/c 28000
Bank A/c. Dr. 36,000
To Share Capital A/c. 30,000
To Securities Premium 6,000
Share Forfeited A/c. Dr 21,000
To Capital Reserve A/c. 21,000
25 A) Rs. 9,45,000 6
B) Debentures Application & Allotment A/c Dr 9,45,000 (1+1.5
Loss on issue of Debentures A/c Dr 90,000
+1+1
To 8% Debentures A/c 9,00,000
To Securities Premium Reserve A/c 45,000 +1.5)
To Premium on Redemption of Debentures A/c 90,000
C) Interest to be paid on debentures 31st March Rs. 49,500
D) Securities Premium A/c Dr. 75,000
Statement of Profit & Loss Dr. 15,000
To Loss on issue of Debentures A/c 90,000
E) Loss on issue of Debentures A/c
Particulars Amount Particulars Amount
To Premium on redemption 90,000 By Securities Premium 75,000
of Debentures By Statement of P & L 15,000
90,000 90,000
26 A) Revaluation Profit Rs.6,000. 2 marks 6
B) Closing capitals Rs. 1,20,000; 60,000 and 60,000. 4 marks for capital A/c
OR
A) Revaluation loss Rs. 12,000 2 marks
B) Kashish’s’s capital Rs. 88,800 and Mohini’s Capital Rs. 59,200 (Adjusted Capital)
C) Siddhi’s Loan 15,000
D) Mohini withdraws Rs. 16,880 and Kashish brings in Rs. 16,800
4 marks for capital A/c
PART B- ANALYSIS OF FINANCIAL STATEMENTS
27 D)Rs. 1,00,000 as current assets OR 1
C) Activity ratios
28 C) Rs. 60,000 1
29 C)Only (i) and (iii) are correct 1
30 C) Dividend paid 1
OR

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 D) Cash used in Financing Activities Rs. 3,000
31 A) Head: Shaeholder Funds Sub-head: Share Capital 3
B) Head :Current Liabilities Sub-head : Other current Liabilities
C) Head: Current Assets Sub-head: Other Current assets
D) Head: Non-Current Assets Sub-head: Long Term Loans & Advances
E) Head: Non-Current Assets Sub-head: Property, Plant & Equipment (intangible
assets)
F) Head: Current Liabilities Sub-head: Other current Liabilities
32 2022-23 2023-24 Absolute Percentage 3
Change Change
I Equity & Liabilities:

Shareholders Funds

Share Capital 6,00,000 7,50,000 1,50,000 25%

Reserves and Surplus 2,00,000 2,40,000 40,000 20%

Non- Current Liabilities

Long-Term Borrowings 4,00,000 5,50,000 1,50,000 37.5%

Current Liabilities:
Trade Payables 1,00,000 85,000 (15,000) (15%)

TOTAL 13,00,000 16,25,000 3,25,000 25%

II Assets
Non- Current Assets:
Fixed Property,Plant, Equipment & 9,00,000 11,70,000 2,70,000 30%

Intangible Assets
Current Assets:
Inventories 3,00,000 3,60,000 60,000 20%

Trade Receivables 40,000 50,000 10,000 25%

Cash & Cash Equivalents 60,000 45,000 (15,000) (25%)

TOTAL 13,00,000 16,25,000 3,25,000 25%

33 Current Assets= Total assets- Non Current assets 4

=Rs. 3,00,000 Rs. 2,00,000
= Rs. 1,00,000 1/2 mark
Current Liabilities= Current assets- Working capital 1/2 mark

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 =Rs. 1,00,000- Rs. 60,000
= Rs. 40,000 1/2 mark
Debt= Total Debt - current liabilities
= 1,20,000- 40,000
= 80,000 1/2 mark
Shareholder Funds= Total Assets - Total Debt 1/2 mark
=Rs. 3,00,000-Rs. 1,20,000
= Rs. 1,80,000 1/2 mark
Debt-Equity Ratio= Debt/Equity 1/2 mark
= 80,000/ 1,80,000
=4:9
= .44 times 1/2 mark
OR
Cost of Revenue from Operations + Gross Profit= Revenue from Operations
6,00,000 + 1/4th of Revenue from Operations= Revenue from Operations
Revenue from Operations= Rs. 8,00,000 1 mark
Revenue from Operations= Cash RFO + Credit RFO
8,00,000= 1/3rd Credit RFO+ Credit RFO
6,00,000= Credit RFO 1 mark
Average Trade Receivables= Opening Receivables+ Closing Receivables
2
= 120000+ 80000 = 1,00,000 1 mark
2
Receivables Turnover Ratio= Credit Revenue from Operations
Average Receivables
= 6,00,000 = 6 times 1 mark
1,00,000
34 Profit before Tax Rs. 30,000 1 mark 6
Operating profit before working Capital Changes Rs. 62,500 2 mark
Cash flow from Operating activities Rs. 42,500 1 mark
Cash used in Investing activities Rs. 65,000
Cash Flow from Financing activities Rs. 17,500 1.5marks
Net decrease in cash & Cash equivalents Rs. 5,000 0.5 mark

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