शिक्षा निदे िालय, राष्ट्रीय राजधािी क्षेत्र ददल्ली

Directorate of Education, GNCT of Delhi

अभ्यास प्रश्ि पत्र
Practice Paper
कक्षा – XII
Class – XII
लेखाांकि (कोड: 055)
Accountancy (Code: 055)
TERM II (2021-22)
समय: 2 घांटे अधधकतम अांक: 40
Time: 2 hours Maximum Marks: 40

सामान्य निदे ि:

सामान्य निर्दे श:

 इस प्रश्ि पत्र में र्दो भाग हैं - क और ख।

 प्रश्ि पत्र में 12 प्रश्ि हैं।
 सभी प्रश्ि अनिवायय हैं
 प्रश्ि संख्या 1 से 3 और 10 लघु उत्तरीय- I प्रकार के प्रश्ि हैं, प्रत्येक के 2 अंक
हैं।
 प्रश्ि संख्या 4 से 6 और 11 लघु उत्तरीय प्रकार- II प्रकार के प्रश्ि हैं, जििमें से
प्रत्येक के 3 अंक हैं।
 प्रश्ि संख्या 7 से 9 और 12 र्दीघय उत्तरीय प्रश्ि हैं जििमें से प्रत्येक के अंक हैं।
 कोई समग्र ववकल्प िहीं है। हालांकक, तीि अंकों के 3 प्रश्िों और पांच अंकों के 1 प्रश्ि में
एक आंतररक ववकल्प प्रर्दाि ककया गया है।

General Instructions:

 This question paper comprises two Parts – A and B.

 There are 12 questions in the question paper.
 All questions are compulsory
 Question nos. 1 to 3 and 1 0 are short answer type–I questions carrying 2 marks each.
 Question nos. 4 to 6 and 11 are short answer type–II questions carrying 3
marks each.
 Question nos. 7 to 9 and 12 are long answer type questions carrying 5 marks
each.
 There is no overall choice. However, an internal choice has been provided
in 3 questions of three marks and 1 question of five marks.
 Part A

(Accounting for Not-for-Profit organizations,

Partnership firms and Companies)

1. From the information given below, prepare Receipts and Payments Account of Railway Club for the year
ended 31st march, 2019:

(₹) (₹)
Cash in Hand on 1st April, 4,390 Salaries 21,500
2018
Subscription 37,600 Honorarium to Secretary 2,500
Donations 8,000 Interest Received on 2,950
Investments
Entrance Fees 4,300 Printing and Stationery 350
Rent Received for Club Halls 5,250 Petty Cash Expenses 900
Electricity Charges 3,440 Insurance Premium Paid 310
Taxes paid 490
(2)
2. State the order of settlement of accounts on dissolution. (2)
3. From the following particulars, calculate new profit-sharing ratio of the partners:
Shiv, Mohan and Hari were partners in a firm sharing profits in the ratio of 5 : 5 : 4. Mohan retired and his
share was divided equally between Shiv and Hari. (2)

4.

How are the following dealt with while preparing the final accounts of a club?
TRIAL BALANCE as
at 31st March, 2019
Dr. Cr.
Particulars
(₹) (₹)
Match Fund ...... 80,000
Match Fund Investments 72,000 ....
Match Fund Bank Balance 3,500 ....
Interest on Match Fund
..... 2,880
Investments
Match Expenses 5,500 ....

OR

Calculate the amount of sports material to be transferred to income and Expenditure Account of Raman Bhalla
Sports Club, Ludhiana, for the year ended 31st March, 2018:

Particulars (₹)
(i) Sports material sold during the year (Book Value ₹ 50,000) 56,000
(ii) Amount paid to creditors for sports materials 91,000
(iii) Cash purchase of sports material 40,000
(iv) Sports material as on 31st March, 2017 50,000
(v) Sports material as on 31st March, 2018 55,000
(vi) Creditors for sports material as on 31st March, 2017 37,000
(vii) Creditors for sports material as on 31st March, 2018 45,000
 (3)
5.
Sangeeta, Saroj and Shanti are partners sharing profits in the ratio of 2:3:5. Goodwill is appearing in the books at a value
of Rs 60,000. Sangeeta retires and goodwill is valued at Rs 90,000. Saroj and Shanti decided to share future profits
equally. Record necessary Journal entries. (3)
6.
Green Ltd. purchased the assets of Strong Ltd. for ₹ 40,00,000 and took over liabilities of 7,00,000 at an
agreed value of ₹ 32,40,000. Payment was made by issuing 10% Debentures of 100 each at a discount of
10%. Pass the necessary Journal entries in the books of Green Ltd.
OR
X Ltd. took a loan of ₹ 3,00,000 from IDBI Bank . The company issued 4,000; 9% Debentures of ₹ 100 each
as a collateral security for the same .Show how these items will be presented in the Balance Sheet of the
company when Debentures Issued as Collateral Security are shown separately. (3)

7.

Record necessary journal entries in case of dissolution to record the following unrecorded assets and liabilities
in the books of Paras and Priya:

1. There was an old furniture in the firm which had been written-off completely in the books. This was sold for
Rs 3,000,

2. Ashish, an old customer whose Account for Rs 1,000 was written-off as bad in the previous year, paid 60%,
of the amount,

3. Paras agreed to take over the firm’s goodwill (not recorded in the books of the firm), at a valuation of Rs
30,000,

4. There was an old typewriter which had been written-off completely from the books. It was estimated to
realize Rs 400. It was taken away by Priya at an estimated price less 25%,

5. There were 100 shares of Rs 10 each in Star Limited acquired at a cost of Rs 2,000 which had been written-
off completely from the books. These shares are valued @ Rs 6 each and divided among the partners in their
profit sharing ratio.

OR
Radha, Sheela and Meena were in partnership sharing profits and losses in the proportion of 3:2:1. On April 1,
2017, Sheela retires from the firm. On that date, their Balance Sheet was as follows:

Amount Amount
Liabilities Rs Assets Rs
Trade Creditors 3,000 Cash-in-Hand 1,500
Bills Payable 4,500 Cash at Bank 7,500
Expenses Owing 4,500 Debtors 15,000
General Reserve 13,500 Stock 12,000
Capitals: Factory Premises 22,500
Radha 15,000 Machinery 8,000
Sheela 15,000 Losse Tools 4,000
Meena 15,000 45,000
70,500 70,500

The terms were:

a) Goodwill of the firm was valued at Rs 13,500.
b) Expenses owing to be brought down to Rs 3,750.
c) Machinery and Loose Tools are to be valued at 10% less than their book value.
d) Factory premises are to be revalued at Rs 24,300.
Prepare:
1. Revaluation account
2. Partner’s capital accounts (5)

8. Arun Ltd appointed, Mr. Nipun as the financial manager of the company, with a target to raise an additional fund
of ₹78, 75,000.Arun Ltd. is a zero-debt company. To avail the benefits of financial leverage, Mr. Nipun proposed to
include debt in the capital structure. After deliberations, on April1, 2020, the board of directors had decided to issue
6% Debentures of ₹100 each to the public at a premium of 5%, redeemable after 5 years at ₹110 per share.
You are required to answer the following questions:
I. Calculate the number of debentures to be issued to raise additional funds.
II. Pass Journal entry for the allotment of debentures.
III. Pass Journal entry to write off loss on issue of debentures.
IV. Calculate the amount of annual fixed obligation associated with debentures.
V. Prepare Loss on Issue of Debentures Account.
(5)

9.

From the following Receipt and Payment Account prepare income and expenditure account and balance sheet of a Unity
Club for the year ended March 31, 2017.
Receipt and Payment Accounts

for the year ending March 31, 2017

Amount Amount
Receipts Payments
Rs Rs

Balance b/d 15,000 Furniture 18,000

Sale of Old furniture (costing Rs 6,000) 4,000 Library books 10,000
Subscriptions: Salaries 72,000
2015–16 18,000 General expenses 18,000
2016–17 60,000 Electric charges 12,000
2017–18 12,000 90,000 Newspapers 33,800

Sale of old newspapers 10,800 Postage 3,000

 Profit from entertainment 44,000 Stationery 40,000
Rent 84,000 Audit fee 8,000
Balance c/d 33,000

2,47,800 2,47,800

Balance Sheet

as on March 31, 2016

Amount Amount
Liabilities Assets
Rs Rs

Outstanding Salary 6,000 Cash 15,000

Capital Fund 6,94,000 Outstanding subscription 18,000
Library Books 30,000
Furniture 37,000
Land and Building 6,00,000

7,00,000 7,00,000

Additional Information:
1. The Club had 500 members each paying an annual subscription of Rs 150.
2. On 31.3.2016 salaries outstanding amounted to Rs 1,200 and salaries paid included Rs 6,000 for the year 2015–16.
3. Provide 5% depreciation on Land and Building. (5)

Part-B
(Analysis of Financial Statements)

10. (a)State with reason whether the issue of 9% debentures to the vendors for the purchase of machinery of Rs
50,000 will result into inflow, outflow or no flow of cash.

(b) Under which type of activity will you classify ‘dividend received by a finance company’ while preparing cash flow
statement? (2)

11.
From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

31st March, 31st March,

Note
Particulars 2019 2018
No.
(₹) (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital:
(i) Equity Share Capital 12,50,000 5,00,000
(ii) Preference Share Capital 2,50,000 2,50,000
(b) Reserves and Surplus 3,00,000 4,50,000
2. Non-Current Liabilities
Long-term Borrowings: 12% Debentures 9,50,000 5,50,000
Loan from Directors 2,50,000 2,00,000
3. Current Liabilities
(a)Short-term Borrowings 3,50,000 1,75,000
(b) Trade Payables 2,00,000 1,00,000
(c) Short-term Provisions 50,000 25,000
Total 36,00,000 22,50,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets (Tangible) 22,50,000 15,00,000
2. Current Assets
(a) Inventories 4,50,000 2,50,000
(b) Trade Receivables 8,00,000 4,50,000
(c) Cash and Cash Equivalents 1,00,000 50,000
Total 36,00,000 22,50,000

OR

Following information is extracted from the Statement of Profit and Loss of Gold Coin Ltd. for the year ended
31st March, 2015. Prepare Comparative Income Statement.

31st March, 31st March,

Particulars
2015 2014
Revenue from Operations ₹ 60,00,000 ₹ 45,00,000
Employee Benefit Expenses ₹ 30,00,000 ₹ 22,50,000
Depreciation ₹ 7,50,000 ₹ 6,00,000
Other Expenses ₹ 15,50,000 ₹ 10,00,000
Tax Rate 30% 30%

(3)
12.
From the following Balance Sheet of JY Ltd. as at 31st March 2017, prepare a Cash Flow
Statement:

BALANCE SHEET
as at 31st March, 2017
 31st
31st March,
Particular Note No. March,
2017 (₹)
2016 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital 5,00,000 5,00,000
(b) Reserves and Surplus 1 1,00,000 (25,000)
2. Non-Current Liabilities
Long-term Borrowings 2 2,50,000 1,50,000
3. Current Liabilities
(a) Short-term Borrowings 3 1,50,000 1,10,000
(b) Short-term Provisions 4 1,25,000 75,000
Total 11,25,000 8,00,000
II. ASSETS
1. Non-Current Assets
Fixed Assets–Tangible 5 6,00,000 4,50,000
2. Current Assets
(a) Trade Receivables 2,75,000 2,25,000
(b) Cash and Cash Equivalents 50,000 25,000
(c) Short-term Loans and Advances 2,00,000 1,00,000
Total 11,25,000 8,00,000

Notes to Accounts

31st March, 31st March,

Particular 2017 2016
(₹) (₹)
1. Reserves and Surplus
Surplus, i.e., Balance in Statement of Profit and 1,00,000 (25,000)
Loss
1,00,000 (25,000)
2. Long-term Borrowings
10% Debentures 2,50,000 1,50,000
2,50,000 1,50,000
3. Short-term Borrowings
Bank Overdraft 1,50,000 1,00,000
1,50,000 1,00,000
4. Short-term Provisions
Provision for Tax 1,25,000 75,000
1,25,000 75,000
5. Tangible Assets
Machinery 7,37,500 5,25,000
Accumulated Depreciation (1,37,500) (75,000)
6,00,000 4,50,000

Note: Proposed Dividend for the years ended 31st March, 2016 and 2017 are ₹ 50,000 and ₹
75,000 respectively.
Additional Information: ₹ 1,00,000, 10% Debentures were issued on 31st March, 2017.
(5)