7 SAMPLE PAPER

[Marimum Marks: 80
Time Allowed: 3 Hours]

General Instruions:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part Aand B.
3. Part-A is compusory for all the candidates.
4. Part-B has two options Le. (i) Analysis of Financial Statements and (ii) Computerised Accounting
Students must attempt only one of the given options as per the subject opted.
5. Question Nos. 1 to 16 and 27 to 30 carry 1 mark each.
6. Question Nos. 17 to 20, 31 and 32 carry 3 marks each.
7. Question Nos. 21, 22 and 33 carry 4 marks each.
8. Question Nos. 23 to 26 and 34 carry 6 marks cach.
9. There is no overall choice. However, an internal choice has been provided 7 questions of one
mark, 2 questions of three marks, 1question of four marks and 2 questions of six marks.

PART - A
Accounting for Partnership Firms and Companies
1. Chandrakanta, a partner was guaranteed that her share of proits willnot be less than 60,000 p.a.
Deficiency, if any, was to be borne by other partners Ayshea and Binita equally. For the year ended
31st March, 2024 the firm incurred loss of 1,80,000.
What amount will be debited to Ayshea's Capital Account in total at the end of the year?
(a) 60,000
(b) 1,20,000
(c) 90,000
(d) 80,000
2. Assertion (A): Interest on drawings increases the divisible profit of a firm.
Reason (R): Product method is used to calculate the interest on same amount withdrawn by partners
at regular interval of time.
(a) Both (A) and (R)are true, and (R) is the correct explanation of (A).
(b) Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(c) (A) is true but (R) is fase.
(d) (A) is fase and (R) is true.
3, Blue Jay Ltd. forfeited 5.000 shares of 10 each issued at 15% premium, on which application
money of 4 has been paid along with premium. Out of these, 1,000 shares were reissued as fully
paid up and 3,000 has been transferred to capital reserve.
Calculate the rate at which these shares were reissued.
(a) ? 8 (b) 9
(c) 10 (d) 11
 Or
Accounts Guru Ltd. issued 1,00,00,000, 12% debentures of 100 each at a premium of 10%
payable 40 on application and balance on allotment. Debentures are redeemable at par after
5years. All money due on allotment was called up and received. The amount received on allotment
will be:
(a) 4,00,000 (b) 10,00,000
(c) ? 60,00,000 (d) ? 70,00,000
4. Out of the following which is not a part of change in profit sharing ratio?
(a) Determination of sacrificing and gaining ratio
(b) Accounting of goodwill
(c) Accounting of reserves, accumulated profits and losses
(d) End of economic relationship among the partners
Or

Manjuli, Prashant and Aryaman are partners in a irm having fixed capitals of 80,000; 40,000
and 50,000 respectively sharing profits in the ratio of 7 :6:4. The rate of interest on capital was
agreed at 10% per annum, but was wrongly credited to them as 12% per annum.
By what amount Prashant's Current Alc will be debited/credited to rectify the above error?
(a) Cr. Prashant's Current A/c 400. (b) Dr. Prashant's Current A/c 400.
(c) Dr. Prashant's Current A/c 200. (d) Cr. Prashant's Current A/e 200.
5. Rahu, Shani, and Ketu are partners sharing profits and losses in the ratio 5:3:2. Rahu had
drawn 10,000 at the beginning of every month, Shani had drawn 30,000 at the beginning of
every quarter, Ketu had drawn 1,20,000 during the year. Interest on drawings was to be charged
@10% p.a. Who will be charged with highest interest on drawings?
(a) Rahu (b) Shani
(c) Ketu (d) Equal interest on drawings for all
6. Astonia Ltd. invited applications for 10,000, 12% LDebentures of 100 each to be issued at certain
premium per debenture and repayable after 5 years at 5% premium. The full amount was payable
on application.
Applications were received for 14,500 debentures. The company made pro-rata allotment. At the
time of writing off loss on issue of debentures, Statement of Profit and Loss was debited with
7 20,000. At what rate of premium, these debentures were issued?
(a) 5% (b) 2%
(c) 3% (d) 1%
Or

RSPL issued 4,000, 8% Debentures of 10 each at 6% discount to be redeemed at certain rate

of premium. For writing off loss on issue of debentures, Statement of Profit and Loss was debited
with 4,400. Premium rate at which debentures to be redeemed is:
(a) 10% (b) 5%
(c) 15% (d) 20%
7. Xavier Ltd. purchased Plant worth 5 lakh from YasminLtd. The purchase price was paid by issue
of 5,250, 10% Debentures of 100 each to the Vendor. These debentures are to be redeemed at 10%
premium after 7 years. Existing balance of Securities Premium before issuing of these debentures
was 50,000 and after writing off loss on issue of debentures was 30,000. The difference of
.will be written off from
(a) 32,500; Capital Reserve
(b) ? 20,000; Capital Reserve
(c) 32,500; Statement of Capital Loss
d) 32,500; Statement of Profit and Los
 8. X, Y and Z are partners sharing profits in 7: 2:1. Y retires on Ist April, 2024 and amount
transferred to his loan A/c is? 1,08,000 whichis payable in three equal annual instalments together
with interest @ 6% p.a. The total amount paid for the last instalment along with interest will be:
(a) 38,160 (b) ? 38,100 (c) 37,800 (d) ? 36,000
Or

A and B started business on lst July 2023 and agreed to share profits and losses in the ratio of
3:1. They contributed 4,00,000 and 2,00,000 respectively by way of capital on which they both
agreed to allow interest @6% p.a. irrespective of profits. Profits earned during the year ending 31st
March, 2024 (before allowing interest on capital) was 25,000. The effect of above situation will be:
(a) Profit? 2,000 will be divided among partners in the ratio of their interest on capital.
(b) Loss 7,000 will be divided among partners in the ratio of 3: 1.
(c) Loss of 2,000 will be divided among A and B in 3: 1.
(d) Loss of ?2,000 will be divided among A and B in their capital ratio 2 :1.
9. A, Band C are equal partners in a firm. Their capitasas on Ist April, 2023 were 60,000,? 40,000
and 30,000 respectively. Partnership deed provides:
(i) Interest on capital @ 12% p.a.
(ii) They have right to withdraw 8,000, 6,000 and 4,000 respectively for personal use. Any
drawings in excess of these limits are charged interest @ 15% p.a.
(üi) Firm charges interest on loan given to partner(s) @ 15% p.a.
(iv) A is entitled to a commission @ 10% of profit after charging his commission but before any
distribution among partners.
During the year ended on 31st March, 2024, firm earned a profit ofR S3,100. Partners' drawings
were A R 12,000, BR9,000 and C 4, 000. Firm gave a loan of 20,000 to Con lst April, 2023.
A's Commission will be:
(a) 5,100 (b) 5,610 (c) 5,310 (d) ? 5,000
10. Rex, Tex and Flex are partners in a firm the ratio of 5:3:2. As per their partnership agreement,
the share of deceased partner is to be calculated on the basis of profits and turnover of previous
accountingyear. Tex expired on 31st December 2023. Turnover tillthe date of death was ? 18,00,000.
Their profits and turnover for the year 2022-23amounted to?4,00,000 and 20,00,000 respectively.
An amount of will be given to his executors as his share of profits till the date of
death.
(a) ? 18,00,000 (b) ? 1,08,000 (c) ? 54,000 (d) ? 6,00,000
11. The partnership deed should be drafted and prepared as per the provisio ns of the
(a) Partnership Act 1932 (b) Companies Act 2013
(c) Partnership Act 1956 (d) Stamp Act
12. Premium on issue of shares can be used for
(a) distribution of dividend (b) writing off capital losses
(c) transferring to general reserve (d) paying fees to directors
13. If 50 shares of R10each, 79 called (including a premium of ? 2) are forfeited due to non-payment
of first call of 2 per share, then share capital will be debited by:
(a) ? 250 (b) 400 (c) ? 350 (d) 500
14. A and B are partners sharing profits and losses in 3:2.Cis admitted for 1/5th share which he
acquires 1/10th from A and 1/10th from B. He brings 20,000 as capital.
Capital balances of Aand B after making all adjustments are 60,000 and 25,000 respectively.
The capital accounts of old partners are to be adjusted on the basis of C's capital and his profit
share in the new firm.
Calculate the actual amount of cash to be paid off or brought in by the old partners to maintain
their capital balances in their new ratio.
 (a) Surplus Capital to be withdrawn by A 10,000 and Deficit Capital to be brought in by
B 5,000.
(b) Surplus Capital to be withdrawn by A 5,000 and Deficit Capital to be brought in by
B 10,000.
(c) Surplus Capital to be withdrawn by A 12,000 and Deficit Capital to be brought in by
B 7,000.
(d) Surplus Capital to be withdrawn by A 7,000 and Deficit Capital to be brought in by
B 12,000.
15. Pand Q are partners sharing profits and losses the ratio 3:2. R is the manager who receives a
salary of R&000 per month and a commission of 5o on net profit after charging such commission.
Profit for the year is 13,56,000 before charging R's salary. The total remuneration due to R is:
(a) L60,000 (b) 1,56,000
(c) ? 1,52,000 (d) Cannot be determined
Or
A and B are partners in a firm. The net divisible profit as per Profit and LoSs Appropriation A/c
is 2,50,000. The total interest on partners' drawings were 4,000. A is entitled to a salary of
? 4,000 per quarter and B? 40,000 per annum The net profit/ loss earned during the year is:
(a) 2,90,000 (b) ? 3,02,000
(C) ? 210,000 (d) 3,08,000
16. On dissolution of afirm, its Balance Sheet revealed Total Creditors 65,000, Total capital 50,000,
Cash Balance8,000. Its assets were realized at 120% of the original book value. Profit on realization
will be:
(a) 11,000 (b) ? 12,840
(c) ? 21,400 (d) R 3,600
17. Aarya, Abhishek and Advika were sharing profits in the ratio of 3: 4:3. On lst Septe mber,
2024, Aarya died. According to partnership agreement deceased partner's share in profit was to
be computed on the basis of last year's profit which was ? 2,52,000 including ? 20,000 of profit on
sale of machinery and excluding ? 8,000 of loss of goods by fire. For the last several years, firm's
profits are showing upward trend of 10% every year.
Compute Aarya's share of profit for the broken period assuming that accounts are closed on 31st
March every year and Pas Journal entry for Aarya's share of profit.
18. Radha and Shyam were partners in a firm sharing profits in the ratio of 3 :2. Their capitals were
70,000 and 50,000 respectively. On 1st April, 2024, they admitted Rukmini as a partner for 1/4
share in profit. Rukmini introduced 40,000 as capital. Shyam guaranteed Rukmini that her share
in proit plus interest on capital will not be less than 18,000 and agreed to bear the loss due to
guarantee alone. Profits for the year ended on 31st March, 2025 were 68,000 before charging
interest on capitals at the rate of 12% p.a. Prepare Profit and Loss Appropriation Account.
Or
Aman and Bishan were partners in a firm sharing profits in the ratio of 3 : 2. Folkowing is the
Balance Sheet of the firm as on 31st March, 2024:
Balance Sheet as at 31st March, 2024
Amount Amount
Liabilities Assets
()
Aman's Capital 30,000 Sundry Assets 34,000
Less: Drawings 4,000 26,000
Bishan's Capital 10,000
Less: Drawings 2,000 8,000
34,000 34,000
 Profit for the year ending 31st March, 2024, 8,000 was divided between the partners in the agreed
ratio, but interest on capital @ 5% p.a. and on drawings @ 6% p.a. were ignored. Interest on
drawings may be calculated on an average basis of 6 months. You are required to give an adjustment
entry.
19, A Ltd. took over the assets of 6,60,000 and liabilities ofR 80,000 of B Ltd. Out of the total
agreed purchase consideration, ? 60,000 was paid in cash and for the balance S,000, Equity Share of
100 each issued at 10% Premium. Pass Journal entries.
Or
Veronica Ltd. issued 20,000 of 100 each, payable 10 on Application, 20 on Allotment and
the balance on First and Final Call.Chahat, holder of 1,000 Debentures, failed to pay the amount
due on Allotment. Mridu, holder of 1,600, paid in advance all the amount due on call along with
Allotment.
Pass Journal entries for Allotment and Final Call.
20. A, B and C were partners in a firm sharing profits and losses in the ratio of 3: 2:1. C died on
30th June, 2021. After all the necessary adjustments, his Capital Account showed a credit balance
of ? 70,600. C's executor was paid 10,600 on lst July, 2021 and the balance in three equal yearly
instalments starting from 30th June, 2022 with interest @ 10% p.a. on the unpaid amount. The
firm closes its books on 31st March every year.
Pre pare C's Executor's Account till the amount is finally paid.
21. Konica Limited registered with an authorised equity capital of ? 20,00,000 divided into 2,00,000
shares ofR 100 each, issued for subscription of 10,000 shares payable at 25 per share on application,
? 30 per share on allotment, 20 per share on first cal and the balance as and when required.
Application money on 10,000 shares was duly received and allotment was made to them. The
allotment amount was received in full, but when the first call was made, one shareholder failed to
pay the amount on 1,000 shares held by him and another shareholder with 500 shares, paid the
entire amount on his shares. The company did not make any other call.
Give the necessary journal entries in the books of the company to record these share capital
transactions by opening Calls-in-Arrear and Calls-in-Advance A/c.
22. Show how will you deal with the following items while preparing Realisation Account (Make an
extract of Realisation Account for each transaction):
(i) Stock's book value was 40,000, 60% of it was taken over by X a valuation of 80%o and
remaining was sold at 90% less S% selling commission.
(it) Investments' book value was 30,000. 70% investments were sold through a stock broker at
110% less brokerage @ 2% and 50% of the remaining investments were taken over by Bat
90% and rest proved worthless.
(üi) Debtors and Provision for Bad Debts were 50,000 and ? 3,000 respectively. 60% Debtors
were realised at 95% and remaining were sold to a debt collecting agency for 60%.
(iv) Plant and Machinery book value of which was 1,50,000 were mortgaged with the bank for
80,000. Bank sold it for R 1,35,000 and after deducting its loan and accrued interest of
4,500 paid the balance to the firm.
23. Learn2Earn an educational company of Accounts Guru Ltd. had a share capital of 60,00,000
divided in Equity Shares of R100 each and 10,000, 9% Debentures of 100 each as part of capital
employed.
The company need additional funds of ? 36,00,000 for which they decided to issue debentures in
such a way that they got required funds after issuing debentures of the same class as earlier, 10%
discount. These debentures were to be redeemed at 15% premium after 4 years. These debentures
were issued on lst October, 2023.
 You are required to:
(i) Pass entries for issue of debentures.
(iü) Prepare Loss on Issue of Debentures Account assuming there was an existing balance in
Securities Premium Account ofR 6,40,000.
(üii) Pass entries for interest on debentures on March 31, 2024 assuming interest is payable on
30th September and 31st March every year.
Or

Vikas Ltd. invited applications for issuing 2,00,000 equity shares of 10 each at a premium of
10 per share. The amount was payable as follows:
On Application 4 per share (including T 2 prenmium)
On Allotment 5 per share (including ? 2 premium)
On First Call ?5 per share (including 3 premium)
On Second and Final Call - Balance amount
The issue was fully subscribed, Rachita, a shareholder holding 1,000 shares, failed to pay the
Allotment money and Ruby, another shareholder holding 1,500 shares, paid her entire share money
along with allotment. Rachita's shares were forfeited immediately after Allotment.
Afterwards, the First Call was made, Kajal, a shareholder holding 500 shares, failed to pay the First
Call money and Payal, a shareholder holding 600 shares, paid her second call money along with
the first call. Kajal's shares were forfeited immediately after the First Call. Later on the Second
Call was made which was duly received.
Pass necessary Journal entries for the above transactions in the books of Vikas Ltd.
24. Following is the balance Sheet of Hemant and Gauri:
Balance Sheet
as on 3lst March, 2024
Amount Amount
Liabilities Assets
)
Creditors 38,000 Cash in hand 37,000
Bill Payable 46,000 Stock 21,000
Profit and Loss A<c 16,000 Debtors 46,000
Provision for Doubtful Debts 6,000 Equipments 12,000
Capital A/cs: Furniture 25,000
Hemant 1,00,000 Plant 85,000
Gauri 1,40,000 2,40,000|Building 1,20,000
3,46,000 3,46,000

They admitted Shelly on 1st April, 2024 on the following conditions:

()) For his 1/3rd share in the future profits, Shelly brings 2,00,000 as her capital but unable to
bring 30,000 as her share of goodwill.
(iü) Equipments and Plant are to be depreciated by 20% and 10% respectively and Building is to
be appreciated by 15%.
(üi) Bills payable were retired for 35,000.
(iv) All debtors are considered good.
(v) Furniture of the book value 12,000 was taken over by Hemant at 40o of the book value.
Prepare Revaluation A/c and Partners' Capital AVcs.
 Or

Sakshi, Anisha and Devika were partners sharing profits and losses in the ratio of 3: 3: 2. Their
Balance Sheet as on 31-03-2024 is as below:
Balance Sheet
as on 31st March, 2024 3
Amount Amount
Liabilities Assets

Capital A/es: Building 10,000

Sakshi 11,000 Machinery 10,700
Anisha 15,000 Furniture 10,000
Devika 8,000 34,000 Debtors 5,000
Bills Payable 1,900 Stock 6,600
Creditors 9,000 Cash 6,600
Reserve Fund 4,000
48,900 48,900

On 1st April, 2024 Devika retired from the firm on the following terms:
(Ü) Sakshi and Anisha's Share in reserve fund should be continued in the new firm.
(iÜ) Goodwill of the firm is to be valued at 4,000.
(üi) Assets are to be valued as Stock 6,300, Machinery ? 10,000 and urniture 10,200.
(iv) Provision for Doubtful Debts is to be maintained at 10% on Debtors.
(v) 100 is to be written off from Creditors.
(vi) The amount payable to Devika is to be transferred to her loan account.
Prepare Revaluation A/c, Partners' Capital Accounts and Balance Sheet.
25. Priya, Karam and Anna were partners of a firm sharing profits in the ratio of3:2:1. Their Balance
Sheet on 31st March, 2024 was as follows:
Amount Amount
Liabilities Assets

Bills Payable 1,20,000Cash in Hand 20,000

Creditors 1,40,000|Debtors 1,40,000
Karam's Loan @ 5% 1,00,000 Bills Receivable 70,000
Reserve 1,80,000 Stock 1,70,000
Capital A/cs Investment 1,30,000
Priya 2,00,000 Acvertisement Suspense Ale 1,20,000
Karam 1,20,000 Building 2,90,000
Anna 80,000 4,00,000
9,40,000 9,40,000

Karam died on 12th June, 2024 and according to the Partnership Deed his executors were entitled
to be paid as under:
(i)) His share in the profits of the firm till the date of his death which will be calculated on the
basis of average profits of last three completed years.
(iü) His share in the goodwill of the firm which will be calculated on the basis of two year's purchase
of total profits of last three years.
(iii) Profits for the last three years were: 30,000, 70,000 and 80,000.
Prepare Karam's Capital A/c to be rendered to his executors.
26. On 1st April, 2022, Accounts Guru Ltd. was formed with an authorised capital of 45,00,000 divided
into 4,50,000 equity shares of 10 cach. The company issued prospectus inviting applications for
3,70,000 equity shares. The company received applications for 3,60,000 equity shares.
During the first year, ?8 per share was called. Kunal holding 4,000 shares and Charvi holding ,000
shares did not pay the first call of 2 per share. Charvi's shares were forfeited after the first call
and later on 6,000 of the forfeited shares were reissued at ?6 per share, 8 called-up.
On the basis of above information, answer the following questions:
(i) How many equity shares did Accounts Guru Ltd. issued the public?
(a) 4,50,000 shares (b) 3,60,000 shares (c) 3,70,000 shares (d) 6,000 shares
(it) How many equity shares will be shown under the head "Subscribed but not fully paid up"?
(a) 3,55,000 shares (b) 3,60,000 shares (c) 3,70,000 shares (d) 3,59,000 shares
(il) How much amount is forfeited from Charvi?
(a) 24,000 (b) ? 66,000 (C) ? 42,000 (d) 6,000
(iv) How much calls-in-arrear amount will appear under the head 'Subscribed but not fully paid
up'?
(a) 4,000 (b) 8,000 (c) ? 22,000 (d) 6,000
(v) How much amount was transferred to Capital Reserve after the reissue of forfeited shares?
(a) 12,000 (b) 42,000 (c) 36,000 (d) ? 24,000
(vi) How much amount will be shown in the balance sheet under the head Share Capital?
(a) 35,42,000 (b) 35,50,000 (c) ? 35,62,000 (d) ? 35,48,000

PART B
Analysis of Financial Statement
27. Which one of the following would be considered a "Use" of cash for the purpose of constructing
a statement of cash flows?
(a) A decrease in account receivables (b) An increase in account payables
(c) A decrease in public deposits (d) An increase in share capital
Or

From the following information, what will be the amount of provision for tax made or provided
during the year?
31st March, 2024 ) 31st March, 2023 ()
Provision for Taxation 1,50,000 1,40,000
The Company paid taxes of 45,000 during the year 2023-24.
(a) ? 45,000 (b) 35,000 (c) ? 40,000 (d) 55,000
28. What will be the Revenue from Operations from the following information?
Opening Stock 4,00,000
Inventory Turnover Ratio 6 Times
Gross Profit 20% on Sales
Closing Stock is twice the Opening Stock.
(a) 45,00,000 (c) ? 36,00,000 (b) 72,00,000 (d) 48,00,000
29. Statement I: Fintech Ltd. is carrying on mutual fund business. It invested 20,00,000 in shares and
15,00,000 in debentures of various companies during the year. It received 3,00,000 as dividend
and interest. There will be a net cash outflow of ? 32,00,000 from investing activities.
Statement II: There is no cash flow from investing activities in the transaction as it is a finance
company.
(a) Both the Statements are true. (b) Both the Statements are fase.
(c) Only Statement-I is true. (d) Only Statement-II is true.
30. The Proprietary Ratio of a firm is 62%. Which of the following transactions woukd not result in
increase in this ratio?
(a) Issue of equity shares
(b) Conversion of debentures into preference shares.
(c) Repayment of public deposit
(d) Purchase of goods on credit
Or
Match column-I and column-II:
Column-I Column-II

()) Employees A. Interestedin knowing the profit-ability and finandal

strength of the enterprise.
(iü) Creditors B. Interestedin knowing the progress of the enterprise
to ensure the safety and recovery of the loan
advanced.
(üi) Owners C. Interested in knowing the ability of the enterprise
to provide remuneration, retirement benefits
and employment opportunities.
(iv) Banks and Finanial Enterprise D. Interested in knowing about the redit worthiness
of the business.

Select from the following options:

(a) (i-B; (iü)-D; (üi)-A: (v-C (b) (i-C: (ü)-A: (iüily-D. (iv-B
(c) (()-C; (ii)-D: (üi)-A: (iv)-B (d) (i)-C;: (ü)-D; (iü)y-B; (iv)-A
31. Classify the following items under Major heads and Sub-heads (if any) in the Balance Sheet of a
Company as per schedule I of the Companies Act 2013.
(i) Current maturities of long-term debts
(ii) Rent due but not paid
(iüi) Provision for Tàx
(iv) Unsold goods
(v) Cash credit
(vi) Unexpired insurance premium
32. From the following information provided, prepare Comparative Statement of Profit and Loss for
the period 2024 and 2023:
Particulars 2024 2023

Revenue from Operations 9,00,000 6,00,000

Cost of Materials Consumed 50% of Revenue 60% of Revenue

from Operations from Operations

Other Expenses [% of (Revenue from Operations-Cost of Materials 15% 20%
Consumed)
Income Tax S0%
50%
33. Debt to Capital Employed ratio is 0.3: 1. State whether the following transactions will decline,
improve or not change the ratio. Also give reasons for the same.
(i) Tax refund of 1,50,000 during the year.
(i) Purchased goods on credit for ? 3,00,000 for a credit of 15 months, assuming operating cycke
is of 18 months.
(iiil) Conversion of Debentures into Equity Shares of 4,00,000.
(iv) Sale of old Building costing 50,00,000 for 30,00,000.
 Or

From the details given below, calculate the following ratios :

() Acid Test Ratio (ü) Working Capital Turnover Ratio
Particulars
Fixed Assets 1,00,000
Inventory 37,200
Trade Receivables 19,200
Cash and Cash Equivalents 39,600
Prepaid Expenses 10,000
Trade Payables 36,000
Short-term Borrowings 17,000
Reserves and Surplus 10,000
Net Revenue from Operations 31,800

34. Following is the Balance Sheet of Thermal Power Ltd. as at 31.3.2024:

Note 31" March 314 March
Particulars No. 2024 2023

I. EQUITY AND LIABILITIES:

1. Shareholders' Funds:
(a) Share Capital 12,00,000 11,00,000
(b) Reserves and Surplus 1 3,00,000 2,00,000
2. Non-current Liabilities:

Long-term Borrowings 2,40,000 1,70,000

3 Current Liabilities:

(a) Trade Payables 1,79,000 2,04,000

(b) Short-term Provisions 2 50,000 77,000
Total 19,69,000 17,51,000

II. ASSETS

1, Non-current Assets:

Property, Plant and Equipment

and Intangible Assets
() Property, Plant and
Equipment 3 10,70,000 8,50,000
(ti) Intangible Aseets 4 40,000 1,12,000
2 Current Assets:
(a) Curent Investments 2,40,000 1,50,000
(b) Inventories 1,29,000 1,21,000
(c) Trade Receivables 1,70,000 1,43,000
(d) Cash and Bank 3,20,000 3,75,000
Total 19,69,000 17,51,000
Notes to Accounts:

31" March 314 March

S. No. Particulars 2024 2023

1. Reserves and Surplus:

Surplus (Balance in Statement of Profit and Loss) 3,00,000 2,00,000

Short-term Provisions:

Provision for Doubtful Debts 50,000 77,000

3. Property, Plant and Equipment:
Machinery 12,70,000 10,00,000
Less: Acumulated Depreciation (2,00,000) (1,50,000)
10,70,000 8,50,000
4. Intangible Assets:
Goodwill 40,000 1,12,000

Additional Information:
() During the year a piece of machinery, costing? 24,000 on which accumulated depreciation
was 16,000, was sold for 6,000.
(it) Proposed dividend for 2022-23 and 2023-24 were 10,000 and 12,000 respectively.
Prepare Cash Flow Statement.