

Board Question Paper : March 2024

BOARD QUESTION PAPER : MARCH 2024

BOOK KEEPING & ACCOUNTANCY
Time: 3 Hrs. Max. Marks: 80

Q.1. Attempt all of the following subquestions: [20]

(A) Find the odd one: (5)
(1) Subscribed Capital, Called up Capital, Paid up Capital, Equity Shares.
(2) Building, Bills Payable, Furniture, Machinery.
(3) Retaining of Bill, Noting of Bill, Discounting of Bill, Endorsing of Bill.

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(4) Audit Fees, Insurance, Medical Expenses, Sundry Receipts.
(5) General Reserve, Creditors, Investments, Capital.

(B) Do you agree on disagree with the following statements: (5)

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(1) ‘Not for Profit’ concerns do not prepare Balance Sheet.
(2) Current Account always shows a debit balance.
(3) A Bill of Exchange is a conditional order.

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(4) Retiring partner is entitled to share in Reserve Fund and Accumulated Profit.
(5) On dissolution, Cash or Bank account is closed automatically.
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(C) Select the most appropriate alternative from those given below and rewrite the
statements: (5)
(1) In case of dissolution, assets and liabilities are transferred to _______ Account.
(A) Bank (B) Partners’ Capital
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(C) Realisation (D) Partners’ Current

(2) In the absence of an agreement, interest on loan advance by the partner to the firm is
allowed at the rate of _______.
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(A) 5% (B) 6%
(C) 10% (D) 9%
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(3) If an asset is taken over by the partner, _______ account is debited.

(A) Revaluation (B) Capital
(C) Asset (D) Balance Sheet
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(4) The balance of Capital Account of a retired partner is transferred to his _______ Account, if it
is not paid.
(A) Loan (B) Personal
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(C) Current (D) Son’s

(5) Income and Expenditure Accounts is a _______ Account.

(A) Capital (B) Real
(C) Personal (D) Nominal

(D) Write a word / term/ phrase as a substitute for each of the following statements: (5)
(1) Tally software is classified into this category.
(2) Partnership Agreement in written form.
(3) An asset which can be converted into cash immediately.
(4) A person who represents the deceased partner.
(5) The debit balance of Income and Expenditure Account.

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Book - Keeping and Accountancy

Q.2. Seeta and Geeta share profits and losses in the ratio of 3 : 2 in Partnership Firm. Their Balance Sheet
as on 31st March, 2020 was as under: [10]

Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets
₹ ₹
Capitals: Bank 11,250
Seeta 22,500 Bills Receivable 5,700
Geeta 18,000 40,500 Debtors 31,200
Creditors 18,750 (-) R.D.D. 1,200 30,000

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Bills payable 15,000 Stock 18,000
Bank Loan 24,000 Furniture 7,050
General Reserve 3,750 Machinery 7,500

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Building 22,500

1,02,000 1,02,000

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On 1st April, 2020 they admitted Reeta on the following terms:
(1) For half (1/2) share in future profit Reeta should bring ` 15,000 as capital and ` 7,500 for
goodwill in cash.
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(2) Furniture should be appreciated up to ` 8,025 and building be appreciated by 20%.
(3) R.D.D. is to be maintained at ` 1,500.
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(4) The stock is to be reduced by 10% and machinery depreciated by 5%.
(5) Half of amount of goodwill is withdrawn by old partners. Pass the necessary Journal Entires in
the books of the firm.
OR
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The balance sheet of Shivshakti Traders, Mumbai is as follows. Partners share profit and losses as
5 : 2 :3.
et

Balance Sheet as on 31st March, 2020

Amount Amount
rg

Liabilities Assets
₹ ₹
Creditors 30,000 Bank 18,600
Bills payable 1,800 Debtors 25,200
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General Reserve 21,000 (-) R. D. D. 1,200 24,000

Capital Accounts: Stock 30,600
Raj 54,000 Building 60,000
Rahul 48,000 Plant and Machinery 48,000
Nitin 26,400

1,81,200 1,81,200

Rahul retired from the business on 1st April, 2020 on the following terms:
(1) The assets were revalued as under:
(i) Plant and Machinery is to be depreciated by 10%.
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Board Question Paper : March 2024

(ii) R.D.D. is to be increased upto ` 1,500.
(iii) Building is appreciated by 10%.
(iv) Stock at ` 42,000.
(2) The goodwill of retiring partner is valued at ` 12,000 and the remaining partners decided that
goodwill be written back in their new profit sharing ratio which will be 5 : 3.
(3) Amount due to Rahul at the time of retirement is to be transferred to his loan account.
Prepare:
(i) Profit and Loss Adjustment Account
(ii) Partners’ Capital Account
(iii) Balance Sheet of the New firm.

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Q.3. Lal, Bal and Pal were partners sharing profits and losses in the ration of 2 : 2 : 1. The following is the
Balance Sheet as on 31st March, 2020 [10]

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Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets

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₹ ₹
Capital Accounts: Machinery 50,000
Lal lic 60,000 Investment 24,000
Bal 20,000 Debtors 55,000
Pal 20,000 (-) R.D.D. 3,000 52,000
General reserve 6,000 Stock 20,000
Creditors 48,000 Profit and Loss A/c 18,000
ub
Bills payable 14,000 Bank 4,000

1,68,000 1,68,000
P

On the above date the partners decided to dissolve the firm.

(1) Assets were realised as under:
Machinery ` 45,000
et

Stock ` 18,000
Investment ` 21,000
Debtors ` 45,000
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(2) Dissolution expenses were ` 3,000.

(3) Goodwill of the firm realised ` 24,000.
Prepare:
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(i) Realisation Account

(ii) Partners’ Capital Account
(iii) Bank Account
OR
Journalise the following transactions in the books of Mr. Arvind.
(1) Bank informed that Sam’s acceptance for ` 30,000 sent to bank for collection has been
honoured and bank charges debited ` 200.
(2) Arun informed Arvind that Neena’s acceptance for ` 25,000 endorsed to Arun has been
dishonoured. Noting change paid by Arun amounted to ` 400.
(3) Bank informed that Jay’s acceptance of ` 35,000 which was discounted with bank was
dishonoured, bank paid noting charges ` 500.

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Book - Keeping and Accountancy

(4) Arvind sold goods to Sagar for ` 20,000 on credit and drew a bill for two months on Sagar for
the same amount.
(5) Neeta retired her acceptance to Arvind of ` 16,500 by paying cash ` 16,000.

Q.4. Mohini Company Limited issued 25,000 equity shares of ` 100 each payable as follows:
On application ` 20
On allotment ` 30
On first call ` 20
On second and final call ` 30
Applications were received for 22,000 equity shares and allotment of shares were made to them.

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All money received by the company.
Pass Journal Entries in the books of Mohini Co. Ltd.

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OR

Write the features of Computerized Accounting System.

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Q.5. Suresh, Naresh and Paresh were equal partners. On 31st March, 2019 their Balance Sheet was as
follows : lic [8]
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Balance Sheet as on 31 March, 2019

Amount Amount
Liabilities Assets
₹ ₹
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Capital Accounts: Land and Building 2,00,000
Suresh 2,50,000 Furniture 1,50,000
Naresh 1,00,000 Debtors 1,50,000
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Paresh 1,00,000 Cash 1,00,000

Sundry creditors 1,50,000
et

6,00,000 6,00,000

Suresh died on 30th June, 2019 and the following adjustments were agreed as :
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(1) Furniture was to be adjusted to its market price of ` 1,70,000.

(2) Land and building was to be depreciated by 10%.
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(3) Provide R.D.D. at 5% on debtors.

(4) The profit up to the date of death of Suresh is to be calculated on the basis of average profit
of last year which was ` 90,000.
Prepare:
(a) Profit and Loss adjustment account.
(b) Partners’ capital account
(c) Balance sheet of the continuing firm.

OR

Convert following Trading and Profit and Loss Account into Vertical Income Statement:

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Board Question Paper : March 2024

Trading, Profit and Loss Account

(for the year ended as on 31st March, 2020)
Dr. Cr.
Amount Amount
Particulars Particular
₹ ₹
To Opening stock 50,000 By Sales 6,00,000
To Purchases 4,50,000 By Closing Stock 1,50,000
To Carriage 20,000
To Direct expenses 30,000

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To Wages 50,000
To Gross Profit c/d 1,50,000

7,50,000 7,50,000

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To Office expenses 62,500 By Gross profit b/d 1,50,000
To Finance expenses 15,000

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To Selling expenses 50,000
To Net Profit c/d 22,500

Total
lic 1,50,000 1,50,000

Q.6. Dr. Anish Korgaonkar started practice of Medical Practioner on 1st April, 2019. He gives you the
Receipts and Payments Account for the year ended 31st March, 2020 and the adjustments. [12]
ub
Prepare Income and Expenditure Account for the year ended 31st March, 2020 and Balance Sheet
as on that date :
Dr. Anish Korgaonkar
Receipts and Payments Account
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for the year ended 31st March, 2020

Dr. Cr.
Amount Amount
et

Receipts Payments
₹ ₹
To Cash introduced 50,000 By Furniture 16,000
To Visit fees 20,000 By Equipment 20,000
rg

To Receipts from dispensary 60,000 By Drugs 14,000

To Sundry receipts 10,000 By Salaries 24,000
By Rent 12,000
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By Conveyance 8,000
By Stationery 1,000
By Electrical charges 10,000
By Journals 1,000
By Drawings 30,000
By Balance c/d 4,000

1,40,000 1,40,000

Additional information:
(1) Receipts in arrears are visit fees ` 4,000 and dispensary ` 1,000.
(2) Outstanding expenses – Rent ` 1,000 and Salaries ` 2,000.
(3) Stock of drugs ` 2,000

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Book - Keeping and Accountancy

(4) Depreciate furniture @ 8% p.a. and equipment ` 1,000.
(5) 40% of the conveyance expenses are for domestic use.

Q.7. Mama and Kaka are partners in partnership firm sharing profits and losses equally. You are required
to prepare Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on
that date: [12]

Trial Balance as on 31st March, 2019

Amount Amount
Debit Balance Credit Balance
₹ ₹
Insurance 30,000 Capital Accounts

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Land and Building 1,00,000 Mama 1,00,000
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(Addition of ` 40,000 w.e.f. 1 July 1,00,000
Kaka
2018)

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10,000 10% Bank loan 60,000
Salaries
(taken on 1st Oct., 2018)
Export duty 5,000 Interest 3,000

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Interest 2,000 Bills payable 16,000
Furniture 80,000
Debtors 52,000
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2,79,000 2,79,000

Adjustments:
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(1) Gross profit amounted to ` 69,000.
(2) Prepaid insurance ` 7,500.
(3) Depreciation Land and Building at 10% p.a. and Furniture at 5% p.a.
(4) Write off ` 2,000 for bad debts and maintain R.D.D. at 5% on Sundry debtors.
P

(5) Closing stock is valued at ` 69,000.

et
rg
Ta

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Board Question Paper: July 2023

BOARD QUESTION PAPER: JULY 2023

BOOK KEEPING & ACCOUNTANCY
Time: 3 Hrs. Max. Marks: 80

Q.1. All objective questions are compulsory: [20]

(A) Write the word/phrase/term which can substitute each of the following statements: (5)
(1) Debit balance of trading account.
(2) The receipts which are not recurring in nature.
N.R.R
(3) Capital employed  =

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100
(4) Fees charged by notary public for getting the fact of dishonour noted.
(5) The person who purchases the share of a company.

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(B) Complete the following statements: (5)
(1) Return outwards are deducted from _______.
(2) Receipts and Payments account falls under the category of _______ account.

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(3) Revaluation Account is also known as _______ account.
(4) Making payment of the bill before the due date of maturity is known as _______.
(5) Benefit Ratio – New Ratio = _______
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(C) Answer in one sentence only: (5)
(1) When is partners’ current account opened?
(2) What is surplus?
ub
(3) What is sacrifice ratio?
(4) Who is called insolvent person?
(5) What is Computerized Accounting System?
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(D) Select the most appropriate alternatives from the following and rewrite the sentences: (5)
(1) The Indian Partnership Act is in force since _______.
et

(A) 1932 (B) 1881

(C) 1956 (D) 1984

(2) Not for profit organisation is also called _______ organisation.

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(A) Service (B) Trading

(C) Profit making (D) Commercial
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1 3 1
(3) Rishi, Ratna and Ruchira are sharing profits and looses , and , if Rishi retires then their
2 10 5
new ratio will be _______.
(A) 5 : 2 (B) 3:2
(C) 5 : 3 (D) 2:5

(4) Assets and liabilities are transferred to Realisation account at their _______ value.
(A) market (B) purchase
(C) sales (D) book

(5) The common size statement requires _______.

(A) Common base (B) Journal entry
(C) Cash flow (D) Current ratio
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Book-Keeping and Accountancy

Q.2. Mr. Rajeev and Mr. Sanjeev were in partnership, sharing profit and losses in the proportion of 3 : 1
respectively. Their Balance Sheet as on 31st March, 2020 was as follows: [10]

Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets
(₹) (₹)
Capital: Building 1,80,000
Mr. Rajeev 1,80,000 Stock 1,20,000
Mr. Sanjeev 1,50,000 Debtors 93,000
General reserve 12,000 Cash 12,000
Sundry creditors 63,000

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4,05,000 4,05,000

Mr. Mahesh is admitted as a partner in the firm on the following terms:

1

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(1) Mahesh shall have th share in profit of the firm.
4
(2) He shall bring in cash ` 1,20,000 as his capital and ` 60,000 as his share of goodwill.
(3) Building overvalued by ` 24,000 and the stock is undervalued by 25% in the books.

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(4) Provide reserves for the doubtful debts ` 2,400 on debtors. You are required to prepare:
Revaluation Account, Capital Accounts of partners and Balance Sheet of the firm after
admission of Mr. Mahesh.
lic OR
The Balance Sheet of Kiran, Suraj and Dhiraj sharing profit and losses 3 : 2 : 1 respectively.
Their Balance Sheet as on 31st March, 2020 was as follows:
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Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets
(₹) (₹)
P

Capital: Bank 1,08,000

Kiran 2,40,000 Debtors 1,80,000
Suraj 1,80,000 Building 1,20,000
et

Dhiraj 1,20,000 Investment 3,00,000

Creditors 44,000
Bills payable 24,000
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Loan 1,00,000

7,08,000 7,08,000
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Dhiraj has taken retirement of 1st April, 2020 on the following terms:
(1) Building and investment to be appreciated by 5% and 10% respectively.
(2) Provision for doubtful debts to be created at 5% on debtors.
(3) The provision of ` 6,000 to be made in respect of outstanding salary.
(4) Goodwill of the firm is valued at ` 1,80,000 and partner (Dhiraj) decided that his share of
goodwill should be written back immediately.
(5) The amount payable to the retiring partner is to be transferred to his loan account.

Prepare:
(i) Profit and Loss Adjustment Account
(ii) Partners’ Capital Account
(iii) Balance Sheet of the New firm.
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Board Question Paper: July 2023

Q.3. The following is the Balance Sheet of partners Aarti and Akanksha as on 31st March, 2019: [10]

Balance Sheet as on 31st March, 2019

Amount Amount
Liabilities Assets
(₹) (₹)
Capital: Furniture 12,000
Aarti 12,000 Patents 2,400
Akanksha 10,000 Goodwill 4,000
General reserve 4,000 Debtors 7,600
Aarti’s Loan A/c 4,000 Less: R.D.D. 400 7,200

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Creditors 6,000 Stock 10,000
Bills payable 2,000 Bank 2,400
38,000 38,000

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On 1st April, 2019 the firm was dissolved:
(1) Aarti took over patents at a value of ` 4,000.
(2) The assets were realised as under:

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Furniture ` 13,000, Goodwill ` 6,000, Stock ` 8,000 and Debtors ` 6,000.
(3) Creditors were paid off a discount of 10% and other liabilities were paid in full.
Expenses for realisation amounted to ` 3,000 which were borne by Akanksha.
(4)
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Prepare:
(i) Realisation Account
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(ii) Partners’ Capital Account
(iii) Bank Account

OR
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Mr. Aman sold goods to Varun worth ` 24,000. Varun accepted the bill for 2 months for the
same amount on the same date.
Aman discounted the bill with bank after one month at 15% p.a.
et

The bill was dishonoured on the due date and Varun requested Aman to accept ` 4,000 and
interest in cash on remaining amount at 11% p.a. for 3 months. Aman agreed and for the balance
Varun accepted a new bill at 3 months.
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On the due date of the new bill, Varun became insolvent and only 20% amount could be
recovered from his estate.
Pass Journal entries in the books of Aman.
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Q.4. Ankur Company Limited invited applications for 65,000 equity shares of ` 100 each at par payable
as follows: [8]
On application ` 30
On allotment ` 40
On first and final call ` 30
The public applied for 50,000 shares and all these were allotted. All money due were
collected with an exception of first and final call on 5,000 shares, these were forfeited.
Pass journal entries in the books of Ankur Company Limited.

OR

Explain the features of Computerised Accounting System.

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Book-Keeping and Accountancy

Q.5. Jay, Ajay and Vijay were partners sharing profit and losses in the ratio 2 : 2 : 1 respectively. [8]
Their balance sheet as on 31st March, 2020 was as follows:

Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets
(₹) (₹)
Capital Account Building 40,000
Jay 40,000 Furniture 30,000
Ajay 50,000 Debtors 30,000
Vijay 30,000 Bank 80,000
General reserve 20,000

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Creditors 30,000
Bills payable 10,000

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1,80,000 1,80,000

Vijay died on 1st July, 2020.

Building was revalued to ` 60,000 and reserve for doubtful debts is to be created at ` 5,000

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(1)
on debtors.
(2) Furniture was to be revalued to ` 35,000.
(3) The drawing of Vijay upto the date of his death amounted to ` 12,000.
(4)
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Interest on drawing of ` 1,000 is to be charged.
(5) Vijay’s share of goodwill should be calculated at 2 years purchases of the average profit for
the last 5 years which were:
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I year ` 60,000; II year ` 50,000; III year ` 80,000; IV year ` 1,00,000 and V year ` 1,20,000.
(6) The deceased partner’s share of profit upto his death to be calculated on the basis of average
profit of last two years (IV and V years).

Prepare:
P

(i) Working of Vijay’s share of profit.

(ii) Working of Vijay’s share of goodwill.
(iii) Revaluation Account.
et

OR

Income statement for the year ended 31st March, 2019 and 31st March, 2020 is given below:
rg

31st March 2019 31st March 2020

Particulars
(₹) (₹)
Net sales 10,00,000 12,00,000
Ta

Less: Cost of goods sold 6,00,000 7,20,000

Gross Profit 4,00,000 4,80,000

Less: Office and administrative

expenses 1,10,000 1,44,000
Selling and distribution
expenses 1,05,000 1,32,000
Net Profit 1,85,000 2,04,000

Prepare:
(i) Common size income statement for the year 31st March, 2019 and 31st March, 2020.
(ii) State in which year the profitability was better?

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Board Question Paper: July 2023

Q.6. Dr. Dhanashri started (business) of medical practitioner on 1st April, 2019. She gives you the
Receipts and Payment Account for the year ended 31st March, 2020 and the adjustments. [12]
Prepare Income and Expenditure account for the year ended 31st March 2020 and Balance
Sheet as on that date:
Receipts and Payments Account
Dr. for the year ended 31st March, 2020 Cr.
Amount Amount
Receipts Payments
(₹) (₹)
To Cash introduced 50,000 By Furniture 16,000
To Visit fees 20,000 By Equipment 20,000
To Receipts from dispensary 60,000 By Drugs 14,000

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To sundry receipts 10,000 By Salary 36,000
By Conveyance 8,000
By Stationery 11,000
By Journals 1,000

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By Drawings 30,000
By Balanced c/d
cash 4,000

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1,40,000 1,40,000

Additional information:
(1) Visit fees ` 4,000 and receipts from dispensary ` 1,000 is outstanding.
(2) Stock of drugs ` 2,000.
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(3) Depreciate furniture@10% p.a. and equipments ` 1,000.
(4) 40% conveyance was for domestic purpose.
(5) Cash introduced ` 50,000 should be considered as capital fund.
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Q.7. Seema and Vivek are partners sharing profit and looses in the ratio of 1 : 1. [12]
From the following trial balance and additional information prepare Trading and Profit and
Loss Account for the year ended 31st March, 2020 and Balance Sheet as on that date:
Trial Balance as on 31st March, 2020
P

Amount Amount
Debit Balance Credit Balance
(₹) (₹)
Stock (1st April, 2019)
et

65,000 Capital:
Wages and salary 9,000 Seema 1,60,000
Debtors 1,32,500 Vivek 1,20,000
Bad debts 1,000 Creditors 78,000
rg

Purchases 1,48,000 Sales 1,84,200

Motor car 68,000 Purchases return 4,000
Sales return 2,000 Interest 1,800
Ta

Building 75,000
Bank Balance 35,000
Advertisement
(paid for 9 months) 4,500
Audit fees 5,000
Printing and stationery 3,000
5,48,000 5,48,000
Adjustments:
(1) Closing stock ` 40,000.
(2) Depreciate building @ 5% and motorcar @ 3% p.a.
(3) Create a provision for bad-debts ` 1,800.
(4) Prepaid expenses - wages ` 700.
(5) Interest receivable ` 900.

5
 

Board Question Paper : March 2024

BOARD QUESTION PAPER : MARCH 2024

BOOK KEEPING & ACCOUNTANCY
Time: 3 Hrs. Max. Marks: 80

Q.1. Attempt all of the following subquestions: [20]

(A) Find the odd one: (5)
(1) Subscribed Capital, Called up Capital, Paid up Capital, Equity Shares.
(2) Building, Bills Payable, Furniture, Machinery.
(3) Retaining of Bill, Noting of Bill, Discounting of Bill, Endorsing of Bill.

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(4) Audit Fees, Insurance, Medical Expenses, Sundry Receipts.
(5) General Reserve, Creditors, Investments, Capital.

(B) Do you agree on disagree with the following statements: (5)

io
(1) ‘Not for Profit’ concerns do not prepare Balance Sheet.
(2) Current Account always shows a debit balance.
(3) A Bill of Exchange is a conditional order.

at
(4) Retiring partner is entitled to share in Reserve Fund and Accumulated Profit.
(5) On dissolution, Cash or Bank account is closed automatically.
lic
(C) Select the most appropriate alternative from those given below and rewrite the
statements: (5)
(1) In case of dissolution, assets and liabilities are transferred to _______ Account.
(A) Bank (B) Partners’ Capital
ub
(C) Realisation (D) Partners’ Current

(2) In the absence of an agreement, interest on loan advance by the partner to the firm is
allowed at the rate of _______.
P

(A) 5% (B) 6%
(C) 10% (D) 9%
et

(3) If an asset is taken over by the partner, _______ account is debited.

(A) Revaluation (B) Capital
(C) Asset (D) Balance Sheet
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(4) The balance of Capital Account of a retired partner is transferred to his _______ Account, if it
is not paid.
(A) Loan (B) Personal
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(C) Current (D) Son’s

(5) Income and Expenditure Accounts is a _______ Account.

(A) Capital (B) Real
(C) Personal (D) Nominal

(D) Write a word / term/ phrase as a substitute for each of the following statements: (5)
(1) Tally software is classified into this category.
(2) Partnership Agreement in written form.
(3) An asset which can be converted into cash immediately.
(4) A person who represents the deceased partner.
(5) The debit balance of Income and Expenditure Account.

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Book - Keeping and Accountancy

Q.2. Seeta and Geeta share profits and losses in the ratio of 3 : 2 in Partnership Firm. Their Balance Sheet
as on 31st March, 2020 was as under: [10]

Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets
₹ ₹
Capitals: Bank 11,250
Seeta 22,500 Bills Receivable 5,700
Geeta 18,000 40,500 Debtors 31,200
Creditors 18,750 (-) R.D.D. 1,200 30,000

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Bills payable 15,000 Stock 18,000
Bank Loan 24,000 Furniture 7,050
General Reserve 3,750 Machinery 7,500

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Building 22,500

1,02,000 1,02,000

at
On 1st April, 2020 they admitted Reeta on the following terms:
(1) For half (1/2) share in future profit Reeta should bring ` 15,000 as capital and ` 7,500 for
goodwill in cash.
lic
(2) Furniture should be appreciated up to ` 8,025 and building be appreciated by 20%.
(3) R.D.D. is to be maintained at ` 1,500.
ub
(4) The stock is to be reduced by 10% and machinery depreciated by 5%.
(5) Half of amount of goodwill is withdrawn by old partners. Pass the necessary Journal Entires in
the books of the firm.
OR
P

The balance sheet of Shivshakti Traders, Mumbai is as follows. Partners share profit and losses as
5 : 2 :3.
et

Balance Sheet as on 31st March, 2020

Amount Amount
rg

Liabilities Assets
₹ ₹
Creditors 30,000 Bank 18,600
Bills payable 1,800 Debtors 25,200
Ta

General Reserve 21,000 (-) R. D. D. 1,200 24,000

Capital Accounts: Stock 30,600
Raj 54,000 Building 60,000
Rahul 48,000 Plant and Machinery 48,000
Nitin 26,400

1,81,200 1,81,200

Rahul retired from the business on 1st April, 2020 on the following terms:
(1) The assets were revalued as under:
(i) Plant and Machinery is to be depreciated by 10%.
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Board Question Paper : March 2024

(ii) R.D.D. is to be increased upto ` 1,500.
(iii) Building is appreciated by 10%.
(iv) Stock at ` 42,000.
(2) The goodwill of retiring partner is valued at ` 12,000 and the remaining partners decided that
goodwill be written back in their new profit sharing ratio which will be 5 : 3.
(3) Amount due to Rahul at the time of retirement is to be transferred to his loan account.
Prepare:
(i) Profit and Loss Adjustment Account
(ii) Partners’ Capital Account
(iii) Balance Sheet of the New firm.

ns
Q.3. Lal, Bal and Pal were partners sharing profits and losses in the ration of 2 : 2 : 1. The following is the
Balance Sheet as on 31st March, 2020 [10]

io
Balance Sheet as on 31st March, 2020

Amount Amount
Liabilities Assets

at
₹ ₹
Capital Accounts: Machinery 50,000
Lal lic 60,000 Investment 24,000
Bal 20,000 Debtors 55,000
Pal 20,000 (-) R.D.D. 3,000 52,000
General reserve 6,000 Stock 20,000
Creditors 48,000 Profit and Loss A/c 18,000
ub
Bills payable 14,000 Bank 4,000

1,68,000 1,68,000
P

On the above date the partners decided to dissolve the firm.

(1) Assets were realised as under:
Machinery ` 45,000
et

Stock ` 18,000
Investment ` 21,000
Debtors ` 45,000
rg

(2) Dissolution expenses were ` 3,000.

(3) Goodwill of the firm realised ` 24,000.
Prepare:
Ta

(i) Realisation Account

(ii) Partners’ Capital Account
(iii) Bank Account
OR
Journalise the following transactions in the books of Mr. Arvind.
(1) Bank informed that Sam’s acceptance for ` 30,000 sent to bank for collection has been
honoured and bank charges debited ` 200.
(2) Arun informed Arvind that Neena’s acceptance for ` 25,000 endorsed to Arun has been
dishonoured. Noting change paid by Arun amounted to ` 400.
(3) Bank informed that Jay’s acceptance of ` 35,000 which was discounted with bank was
dishonoured, bank paid noting charges ` 500.

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Book - Keeping and Accountancy

(4) Arvind sold goods to Sagar for ` 20,000 on credit and drew a bill for two months on Sagar for
the same amount.
(5) Neeta retired her acceptance to Arvind of ` 16,500 by paying cash ` 16,000.

Q.4. Mohini Company Limited issued 25,000 equity shares of ` 100 each payable as follows:
On application ` 20
On allotment ` 30
On first call ` 20
On second and final call ` 30
Applications were received for 22,000 equity shares and allotment of shares were made to them.

ns
All money received by the company.
Pass Journal Entries in the books of Mohini Co. Ltd.

io
OR

Write the features of Computerized Accounting System.

at
Q.5. Suresh, Naresh and Paresh were equal partners. On 31st March, 2019 their Balance Sheet was as
follows : lic [8]
st
Balance Sheet as on 31 March, 2019

Amount Amount
Liabilities Assets
₹ ₹
ub
Capital Accounts: Land and Building 2,00,000
Suresh 2,50,000 Furniture 1,50,000
Naresh 1,00,000 Debtors 1,50,000
P

Paresh 1,00,000 Cash 1,00,000

Sundry creditors 1,50,000
et

6,00,000 6,00,000

Suresh died on 30th June, 2019 and the following adjustments were agreed as :
rg

(1) Furniture was to be adjusted to its market price of ` 1,70,000.

(2) Land and building was to be depreciated by 10%.
Ta

(3) Provide R.D.D. at 5% on debtors.

(4) The profit up to the date of death of Suresh is to be calculated on the basis of average profit
of last year which was ` 90,000.
Prepare:
(a) Profit and Loss adjustment account.
(b) Partners’ capital account
(c) Balance sheet of the continuing firm.

OR

Convert following Trading and Profit and Loss Account into Vertical Income Statement:

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Board Question Paper : March 2024

Trading, Profit and Loss Account

(for the year ended as on 31st March, 2020)
Dr. Cr.
Amount Amount
Particulars Particular
₹ ₹
To Opening stock 50,000 By Sales 6,00,000
To Purchases 4,50,000 By Closing Stock 1,50,000
To Carriage 20,000
To Direct expenses 30,000

ns
To Wages 50,000
To Gross Profit c/d 1,50,000

7,50,000 7,50,000

io
To Office expenses 62,500 By Gross profit b/d 1,50,000
To Finance expenses 15,000

at
To Selling expenses 50,000
To Net Profit c/d 22,500

Total
lic 1,50,000 1,50,000

Q.6. Dr. Anish Korgaonkar started practice of Medical Practioner on 1st April, 2019. He gives you the
Receipts and Payments Account for the year ended 31st March, 2020 and the adjustments. [12]
ub
Prepare Income and Expenditure Account for the year ended 31st March, 2020 and Balance Sheet
as on that date :
Dr. Anish Korgaonkar
Receipts and Payments Account
P

for the year ended 31st March, 2020

Dr. Cr.
Amount Amount
et

Receipts Payments
₹ ₹
To Cash introduced 50,000 By Furniture 16,000
To Visit fees 20,000 By Equipment 20,000
rg

To Receipts from dispensary 60,000 By Drugs 14,000

To Sundry receipts 10,000 By Salaries 24,000
By Rent 12,000
Ta

By Conveyance 8,000
By Stationery 1,000
By Electrical charges 10,000
By Journals 1,000
By Drawings 30,000
By Balance c/d 4,000

1,40,000 1,40,000

Additional information:
(1) Receipts in arrears are visit fees ` 4,000 and dispensary ` 1,000.
(2) Outstanding expenses – Rent ` 1,000 and Salaries ` 2,000.
(3) Stock of drugs ` 2,000

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 

Book - Keeping and Accountancy

(4) Depreciate furniture @ 8% p.a. and equipment ` 1,000.
(5) 40% of the conveyance expenses are for domestic use.

Q.7. Mama and Kaka are partners in partnership firm sharing profits and losses equally. You are required
to prepare Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on
that date: [12]

Trial Balance as on 31st March, 2019

Amount Amount
Debit Balance Credit Balance
₹ ₹
Insurance 30,000 Capital Accounts

ns
Land and Building 1,00,000 Mama 1,00,000
st
(Addition of ` 40,000 w.e.f. 1 July 1,00,000
Kaka
2018)

io
10,000 10% Bank loan 60,000
Salaries
(taken on 1st Oct., 2018)
Export duty 5,000 Interest 3,000

at
Interest 2,000 Bills payable 16,000
Furniture 80,000
Debtors 52,000
lic
2,79,000 2,79,000

Adjustments:
ub
(1) Gross profit amounted to ` 69,000.
(2) Prepaid insurance ` 7,500.
(3) Depreciation Land and Building at 10% p.a. and Furniture at 5% p.a.
(4) Write off ` 2,000 for bad debts and maintain R.D.D. at 5% on Sundry debtors.
P

(5) Closing stock is valued at ` 69,000.

et
rg
Ta

6
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Board Question Paper : March 2022

BOARD QUESTION PAPER : MARCH 2022

BOOK KEEPING & ACCOUNTANCY
Time: 3 Hrs. Max. Marks: 80

Q.1. Attempt all of the following sub-questions: [20]

(A) Select the correct options and rewrite the statements: (5)
(1) To find out the net profit or net loss of the business _______ Account is prepared.
(a) Trading (b) Capital
(c) Current (d) Profit and Loss

(2) From financial statement analysis the creditors are specially interested to know _______.
(a) Liquidity (b) Profits
(c) Sale (d) Share Capital

(3) Death is a compulsory _______.

(a) dissolution (b) admission
(c) retirement (d) winding up

(4) The due date of the bill drawn for 2 months on 23rd November, 2019 will be _______.
(a) 23rd Jan, 2020 (b) 25th Jan, 2019
(c) 26th Jan, 2019 (d) 25th Jan, 2020

(5) Decrease in the value of assets should be _______ to Profit and Loss Adjustment Account.
(a) debited (b) credited
(c) added (d) none of the above

(B) Write a word / term / phrase as a substitute for each of the following statements: (5)
(1) Debit balance of Trading Account.
(2) Expenses incurred on dissolution of firm.
(3) Old Ratio less New Ratio.
(4) Officer appointed by Govt. for noting of dishonour of bill.
(5) Donation received for a specific purpose.

(C) Answer the following questions in only ‘one’ sentence each: (5)
(1) What is Legacy?
(2) What is CAS?
(3) Who is called Insolvent Person?
(4) What is Reserve Capital?
(5) What is Revaluation Account?

(D) Complete the sentences: (5)

(1) Partnership deed is an _______ of partnership.
(2) Aurangabad University prepares _______ Account instead of Profit and Loss Account.
(3) Returns outward are deducted from _______.
(4) New Ratio (–) _______ = Gain Ratio.
(5) Cash receipts which are recurring in nature are called as _______ receipts.
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 

Std. XII: Book - Keeping and Accountancy

Q.2. Ram and Shyam were in partnership sharing profits and losses in the proportion of 3:1 respectively.
Their Balance sheet as on 31st March, 2020 stood as follows: [10]
Balance Sheet as on 31st March, 2020
Amount Amount
Liabilities Assets
₹ ₹
Sundry creditors 80,000 Cash 80,000
Bills payable 42,000 Sundry debtors 64,000
Capital Accounts: Land and Building 32,000
Ram 1,20,000 Stock 40,000
Shyam 40,000 1,60,000 Plant and Machinery 60,000
General Reserve 16,000 Furniture 22,000
2,98,000 2,98,000
They admit Bharat into partnership on 1st April, 2020. The term being that:
(1) He shall have to bring in ₹ 40,000 as his Capital for 1/5th share in future profit and ₹ 20,000 as
his share of Goodwill.
(2) A provision for 5% doubtful debts to be created on sundry debtors.
(3) Stock should be appreciated by 5% and Land and Building be appreciated by 20%.
(4) Furniture to be depreciated by 20%.
(5) Capital Accounts of all partners be adjusted in their new profit sharing ratio through Cash
Account.
Prepare:
(i) Profit and Loss Adjustment Account
(ii) Partners’ Capital Account.
(iii) Balance Sheet of the new firm.
OR
Ajay, Vijay and Sanjay were partners sharing profits and losses in the ratio of 3 : 3 : 2. Their Balance
Sheet as on 31st March, 2020 is as follows:
Balance Sheet as on 31st March, 2020
Amount Amount
Liabilities Assets
₹ ₹
Creditors 32,700 Bank 19,800
Reserve fund 12,000 Stock 19,800
Capital Accounts: Debtors 15,000
Ajay 33,000 Live Stock 30,000
Vijay 45,000 Plant and Machinery 62,100
Sanjay 24,000
1,46,700 1,46,700
st
On 1 April, 2020 Sanjay retired from the firm on the following terms:
(1) R.D.D. is to be maintained at 10% on debtors.
(2) ₹ 300 to be written off from creditors.
(3) Goodwill of the firm is to be valued at ₹ 12,000, however, only Sanjay’s share in it is to be
raised in the book and written off immediately.
(4) Assets to be revalued as: Stock ₹ 18,900, Plant and Machinery ₹ 60,000, Live Stock ₹ 30,600.
(5) The amount payable to Sanjay to be transferred to his loan account after retirement:
Prepare:
(i) Revaluation Account.
(ii) Partners’ Capital Account
(iii) Balance Sheet of the New firm.

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 

Board Question Paper : March 2022

Q.3. Asha, Usha and Nisha are partners in the firm sharing profits and losses in the ratio of 3 : 2 : 1
respectively. On 31st March, 2019 they decided to dissolve the firm when their Balance Sheet was as
under: [10]

Balance Sheet as on 31st March, 2019

Amount Amount
Liabilities Assets
₹ ₹
Creditors 28,800 Building 1,02,000
Bills Payable 21,600 Machinery 73,000
Capital Accounts: Motor Car 1,67,600
Asha 2,27,160 Goodwill 45,600
Usha 1,44,000 Investment 62,400
Nisha 1,08,000 Debtors 30,600
Stock 45,000
Bank 3,360

5,29,560 5,29,560

The firm was dissolved on the above date and the assets realised as under:
(1) Asha agreed to take over the Building at ₹ 1,23,600.
(2) Usha took over Goodwill, Stock and Debtors at book value and agreed to pay Creditors and
Bills payable.
(3) Motor car and Machinery realised at ₹ 1,51,080 and ₹ 31,680 respectively.
(4) Investment were taken by Nisha at an agreed value of ₹ 55,440.
(5) Realisation Expenses amounted to ₹ 6,800.

Prepare:
(a) Realisation Account
(b) Partners’ Capital Account
(c) Bank Account
OR
Sonali draws a bill on Rupali for ₹ 50,000 for 3 months. Rupali accepts the bill on the same date.
Sonali sends the bill to the bank for collection. Before due date, Rupali finds herself unable to make
payment of bill and requests Sonali to renew it. Sonali agrees to the proposal on a condition that
Rupali should pay ₹ 20,000 in cash along with interest ₹ 1,000 and accept a new bill for 2 months for
the balance. Rupali retired the bill by paying ₹ 27,000.

Give Journal entries in the books of Sonali and prepare Rupali’s Account in the books of Sonali.

Q.4. Ajita Ltd. issued 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share payable as: [8]
₹ 3 on application
₹ 5 on allotment (including ₹ 2 premium)
₹ 4 on first and final call

Applications were received for 2,40,000 equity shares and pro-rata allotment was made to all the
applicants.
The excess application money was adjusted with allotment. Prerna who was allotted 400 shares
failed to pay first and final call and her shares were forfeited.
Pass Journal Entries in the books of Ajita Ltd.
OR
State the difference between Manual Accounting Process and Computerised Accounting Process.
3
 

Std. XII: Book - Keeping and Accountancy

Q.5. Anil, Sunil and Mohit were partners sharing profits and losses in the proportion of their capital. Their
Balance Sheet as on 31st March, 2019 was as follows: [8]
Balance Sheet as on 31st March, 2019
Amount Amount
Liabilities Assets
₹ ₹
Capital Accounts: Land and Building 80,000
Anil 60,000 Motor Lorry 40,000
Sunil 40,000 Debtors 32,000
Mohit 20,000 Less: R.D.D.  4,000 28,000
Creditors 50,000 Furniture 36,000
Outstanding Salary 6,000 Bank 28,000
Reserve Fund 36,000
2,12,000 2,12,000
Mohit died on 1st August, 2019 and the following adjustments were made:
(1) Assets to be revalued as under:
Land and Building ₹ 88,000
Motor Lorry ₹ 36,000
Furniture ₹ 34,000
(2) All debtors were good.
(3) Goodwill of the firm valued at two times the average profit of last 4 years’ profit.
(4) Mohit’s share of profit to be calculated on the basis of average profit of the last three years.
(5) Profit for four years 1st year ₹ 12,000, 2nd year ₹ 24,000, 3rd year ₹ 14,000, 4th year ₹ 22,000.
Prepare:
(a) Mohit’s capital account showing amount payable to his executor.
(b) Give working note of Mohit’s share of goodwill and profit up to the date of his death
OR
Following is the Balance Sheet of Param Company Ltd. as on 31st March, 2019 and 31st March, 2020:

31.3.2019 31.3.2020 31.3.2019 31.3.2020

Liabilities Assets
₹ ₹ ₹ ₹
Share Capital 2,50,000 3,70,000 Fixed assets 2,80,000 4,40,000
Reserve and Current assets 1,30,000 1,20,000
Surplus 60,000 1,00,000
Current
Liabilities 1,00,000 90,000
4,10,000 5,60,000 4,10,000 5,60,000
You are required to prepare Comparative Balance Sheet of Param Company Ltd. as on
31st March, 2019 and 31st March 2020.
Q. 6. From the following Receipts and Payments Account of Shahu College, Kolhapur for the year ending
31st March, 2020 and additional information, prepare Income and Expenditure Account for the year
ended 31st March, 2020 and Balance Sheet as on that date: [12]
Receipts and Payments Account
for the year ended 31st March, 2020
Dr. Cr.
Amount Amount
Receipts Payments
₹ ₹
To Balance b/d By Salaries 11,77,500
Cash 6,000 By Printing and Stationery 13,500
Bank 1,00,000 By Books 44,000

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Board Question Paper : March 2022

To Interest 30,000 By Furniture 39,000
To Donation 3,50,000 By Drama Expenses 45,000
To Tuition fees 9,50,000 By Postage 3,500
To Admission fees 32,500 By Telephone Charges 3,000
To Drama receipts 50,000 By Electricity 30,500
To Rent from use of hall 3,000 By Magazine and Newspapers 3,000
To Legacies (Capital) 30,000 By Balance c/d
Cash 31,000
Bank 1,61,500
15,51,500 15,51,500
Additional information:
(1) Outstanding Salaries ₹ 35,000.
(2) 60% of donations are for Building Fund and Balance is to be treated as revenue income.
(3)
1-4-2019 31-3-2020
Particulars
(₹) (₹)
Capital fund 3,05,500 ?
Building fund 4,13,500 ?
Furniture 1,63,000 1,50,000
Books 4,50,000 4,44,000

Q.7. Asha and Nisha are partners sharing profits and losses in equal ratio. From the following Trial Balance
and adjustments you are required to prepare Final Accounts: [12]
Trial Balance as on 31st March, 2019
Amount Amount
Debit Balance Credit Balance
₹ ₹
Purchases 48,000 Capital accounts:
Salaries 7,500 Asha 80,000
Wages 2,800 Nisha 40,000
Advertisement (2 years) 4,000 Bank Overdraft 34,000
Sales Return 8,000 Sales 1,48,000
Motor Van 63,000 R. D. D. 1,200
Stock (1.4.2018) 94,500 Purchase Return 6,000
Sundry Debtors 62,800
Coal, Gas and Fuel 1,000
Plant and machinery 17,600
3,09,200 3,09,200
Adjustments:
(1) Closing stock is valued at cost price ₹ 88,000 and market price ₹ 90,000.
(2) Asha and Nisha withdrew goods from business ₹ 3,000 and ₹ 2,000 respectively for their
personal use.
(3) Depreciate Motor Van by 5% and Plant and Machinery by 7%.
(4) Reserve for Doubtful debts on Debtors at 5% is to be created.
(5) Outstanding Wages ₹ 800.