12ACC03 QP

KENDRIYA VIDYALAYA SANGATHAN, CHENNAI REGION

IInd PRE BOARD EXAMINATION 2023 - 2024
SUBJECT- ACCOUNTANCY (055)
CLASS XII (2023-24) TIME 3 HOURS
MAX. MARKS: 80

GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for all the candidates.
4. Part - B has two options i.e. (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 carries 1 mark each.
6. Questions Nos. 17 to 20, 31and 32 carries 3 marks each.
7. Questions Nos. from 21 ,22 and 33 carries 4 marks each
8. Questions Nos. from 23 to 26 and 34 carries 6 marks each
9. 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.
Q. PART A
No. Marks
(Accounting for Partnership Firms and Companies)
1. A& B are partners sharing profits and losses in the ratio of 5:3. C is admitted for (1)
¼ and for which ₹30,000 and ₹10,000 are credited as a premium for goodwill to
A and B respectively. The new profitsharing ratio of A:B:C will be:
a) 3:2:1 b) 12:8:5 c) 7:5:4d) 33:27:20
2. Assertion (A) : Loan Account and Capital Account of a partner are separately (1)
maintained in the books of account.
Reason (R) : As per the Indian Partnership Act, 1932, loan by a partner is
repayable before payment of capital to partners at the time of dissolution of the
firm.
a) Both A and R are correct, and R is the correct explanation of A.
b) Both A and R are correct, but R is not the correct explanation of A.
c) A is correct but R is incorrect.
d) A is incorrect but R is correct.
3. Is rent paid to a partner appropriation of profits? (1)
(a) It is appropriation of profit
(b) It is not appropriation of profit and it is charge against profit
(c) If partner’s contribution as capital is maximum
(d) If partner is an active partner

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4. X and Y are partners in the ratio of 3:2. Their capitals are Rs. 2,00,000 and Rs. (1)
1,00,000 respectively. Interest on capital is charged @ 8% p.a. Firm earned a
profit of Rs. 15,000 for the year ended 31st March, 2023. Y’s loss will be :
(a) Rs. 8,000 (b) Rs. 5,400 (c) Rs. 3,600 (d)Rs. 10,000
(or)
A, B and C sharing profits in the ratio of 2:2:1 have fixed capitals of Rs.
2,00,000 , Rs. 2,00,000 and Rs. 1,00,000 respectively. After closing the accounts
for the year ending 31st March, 2023 it was discovered that Interest on capital
was provided @ 12% p.a. instead of 10% p.a. In the single adjustment entry :
(a) Cr. A Rs. 1,200 ; Dr. B Rs. 800 and Dr. C Rs. 400
(b) Dr. A Rs. 1,200 ; Cr. B Rs. 800 and Cr. C Rs. 400
(c) Cr. A Rs. 800 ; Cr. B Rs. 400 and Dr. C Rs. 1,200
(d) Dr. A Rs. 800 ; Dr. B Rs. 400 and Cr. C Rs. 1,200
Read the following hypothetical situation and answer Q. 5 and 6
On 1st April, 2022, P , Q and R entered into a partnership with capitals of
Rs. 5,00,000, Rs. 4,00,000 and Rs. 3,00,000 respectively.
On 1st January,2023 P gave a loan of Rs. 1,00,000 to the firm.
The partnership deed contained the following clauses:
(a) Interest on drawings to be charged @ 8% p.a.
(b) P to be entitled to a rent of Rs. 24,000 p.a. for the following the firm to carry
on the business in his business
Q withdrew Rs. 5,000 at the end of each month for the six months.
Net profit of the firm for the year ending 31st March, 2023 (before any Interest
but after rent on Q premises) was Rs. 2,00,000.
5. The net profit of the firm will be : (1)
(a) Rs. 1,74,500 (b) Rs. 2,00,200 (c) Rs. 1,98,500 (d) Rs. 1,76,200
6. Interest on drawings charged from Q will be: (1)
(a) 1,800 (b) 1,700 (c) Rs. 500 (d) Rs. 600
7. E, F and G are partners sharing profits in the ratio 3:3:2. As per the partnership (1)
agreement, G is to get a minimum amount of Rs. 80,000 as his share of profits
every year and any deficiency on this account is to be personally borne by E.
The net profit for the year ended 31st March, 2023 amounted to Rs. 3,12,000.
Calculate the amount of deficiency to be borne by E?
(a) Rs. 1,000 (b) Rs. 4,000 (c) Rs. 8,000 (d) Rs. 2,000
(or)

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 P and Q are partners sharing profits in the ratio of 1:2. R was manager who
received the salary of Rs. 10,000 p.m. in addition to commission of 10% on net
profits after charging such commission. Total remuneration to R amounted to
Rs. 1,80,000. Profit for the year before charging salary and commission was:
(a) Rs. 7,0,000 (b) Rs. 6,00,000 (c) Rs. 7,80,000 (d) Rs. 6,60,000
8. M/s. Supertech India has assets of ₹ 5,00,000, whereas Liabilities are: Partner’s (1)
Capitals – ₹ 2,50,000, General Reserve – ₹ 60,000, and Sundry Creditors – ₹
1,90,000. If the Normal Rate of Return is 10% and the Goodwill of the firm is
valued at ₹ 90,000 at 2 year’s purchase of Super Profit, the Average Profit of the
firm will be____.
(a) ₹ 76,000(b) ₹ 86,000 (c) ₹ 1,63,000 (d) ₹ 23,000
(or)
Total of Assets side of the Balance Sheet – ₹ 26,00,000, Debit Balances in
Current Account of Naresh and Vikesh – ₹ 75,000 and ₹ 25,000 respectively;
Bank Loan ₹ 8,00,000; Goodwill ₹ 1,00,000; Trade Investments – ₹ 25,000;
Profit and Loss Accounts (Debit) – ₹ 15,000.
Based on the above information, Capital Employed for the purposes of the
valuation of Goodwill will be
a) ₹ 16,85,000b) ₹ 15,85,000c) ₹ 17,85,000d) ₹ 14,85,000
9. Due to change in profit sharing ratio, X’s sacrifice is 3/10, while Z’s gain is (1)
3/10. They decide to record the effect of the following without affecting the
book figures. by passing an adjusting entry:

General Reserve -------------------₹ 35,000

Profit and Loss (Cr.) -------------------₹ 15,000
Advertisement Suspense A/c (Dr.)--- ₹ 20,000
The necessary adjustment entry will be
a) Dr. Z and Cr. X by ₹ 9,000b) Dr. X and Cr. Y by ₹ 9,000
c) Dr. X and Cr. Y by ₹ 18,000d) Dr. Y and Cr. X by ₹ 9,000
10. Assets are revalued and liabilities are reassessed at the time of change in profit (1)
sharing ratio so that
a) assets and liabilities are shown at their present values
b) gaining partner is not put to an advantage and sacrificing partner is not put to
disadvantage and vice-versa
c) Both a) and b)
d) assets and liabilities are shown at their market values.

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11. Himanshu and Naman share profits & losses equally. Their capitals were (1)
Rs.1,20,000 and Rs. 80,000 respectively. There was also a balance of
Rs. 60,000 in General reserve and revaluation gain amounted to Rs. 15,000.
They admit friend Ashish with 1/5 share. Ashish brings Rs.90,000 as capital.
Calculate Ashish‘sgoodwill of the firm.
(a) Rs. 1,00,000 (b) Rs. 85,000 (c) Rs. 20,000 (d) Rs. 17,000
12. Karan, Aman and Girish were Partners with capitals of Rs. 3,00,000’; (1)
Rs.2,50,000 and Rs.2,00,000 respectively as on 31stMarch, 2018. Aman died,
partners decided to pay the entire amount to Aman’s Executor but they only had
Rs.50,000 cash and rest of the amount was to be brought in by Karan and Girish
in such a way that their future capital will be equal. Calculate the amount to be
brought in by Karan and Girish.
(a) Rs.50,000 by Karan and Rs.1,50,000 by Girish
(b) Rs.50,000 by Girish and Rs.1,50,000 by Karan
(c) Rs.25,000 by Karan and Rs.1,25,000 by Girish
(d) Rs.25,000 by Girish and Rs.1,25,000 by Karan
13. A, Band C are partners in a firm at the time of C's retirement, A takes over (1)
furniture of Rs. 50,000 at Rs. 40,000. Choose the correct entry from the
following:
(a) Dr. A’s Capital Rs. 40,000 and Cr. C’s Capital Rs. 40,000
(b) Dr. A’s Capital Rs. 40,000; Dr. Revaluation A/c Rs. 10,000; Cr. C’s Capital
A/c Rs. 50,000
(c) Dr. A’s Capital Rs. 40,000 and Cr. C’s Furniture Rs. 40,000
(d) Dr. A’s Capital Rs. 40,000; Dr. Revaluation A/c Rs. 10,000; Cr. Furniture
A/c Rs. 50,000
14. Computer of book value of Rs. 80,000 and patents of the book value of Rs. (1)
20,000 have been transaction to Realisation A/c . If nothing is mentioned about
the realisation of these assets, they will be realised at:
(a) Nil (b) Rs. 60,000 (c) Rs. 80,000 (d) Rs. 20,000
(or)
At the time of dissolution of the firm, bank overdraft is transferred to:
(a) Cr. side of bank A/c (b) Dr. side of partner’s capital A/c
(c) Cr. side of realisation A/c (d) Dr. side of realisation A/c
15. 600 shares of ₹10 each were forfeited for non-payment of ₹2 per share on the (1)
first call and ₹5 per share on the final call. Share forfeiture account will be

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 credited with:
a) ₹1,200 b) ₹1,800 c) ₹3,000 d) ₹4,200
16. PSM Ltd purchased a building for ₹10,00,000 payable as 10% in cash, (1)
Rs.1,50,000 in bills payable and balance by allotment of 9% debentures of ₹100
each at a premium of 25%. Number of debentures issued will be :
(a) 4,250 (b) 4,000 (c) 6,000 (d) 3,400
(or)
Writing off discount or Loss on Issue of debentures is to be written off in the
following order:
(a) First from Security Premium Reserves then Statement of Profit and Loss
(b) First Statement of Profit and Loss then Security Premium Reserves
(c) Both (a) & (b)
(d) Either (a) (or) (b)
17. Calculate goodwill of a firm on the basis of three years purchases of the (3)
Weighted Average Profits of the last four years. The profits of the last four years
were:
Years (ending 31st March) 2020 2021 2022 2023
Amount (Rs. ) 28,000 27,000 46,900 53,810
a) On 1st April, 2020 a major plant repair was undertaken for ₹10,000 which
was charged to revenue. The said sum is to be capitalized for goodwill
calculation subject to adjustment of depreciation of 10% on Straight Line
method balance method.
b) For the purpose of calculating Goodwill the company decided that the years
ending 31.03.2020 and 31.03.2021 be weighted as 1 each (being COVID
affected) and for year ending 31.03.2022 and 31.03.2023 weights be taken as 2
and 3 respectively.
18. Disha Ltd purchased machinery from Nisha Ltd and paid to Nisha Ltd as (3)
follows
(i) By issuing 10,000, equity shares of ₹ 10 each at a premium of 10%.
(ii) By issuing 200, 9% debentures of ₹ 100 each at a discount of 10%.
(iii) Balance by accepting a bill of exchange of ₹ 50,000 payable after one
month.
Pass necessary journal entries in the books of Disha Ltd. For the purchase of
machinery and making payment to Nisha Ltd.
(or)
Fill in the blanks in the following case:

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 Journal
Date Particulars L.F. Dr. (Rs.) Cr. (Rs.)
……… Dr. - ……
To ………. ……
(Being application money received on
2,000 12% debentures of Rs. 100 each
issued at a premium of 10% and
redeemable at a premium of 10%)
……… Dr. - ……
……… Dr. - ……
To ……….
…….
To ……….
To ………. ……
(………………………………..) ……
19. E, F and G were partners in a firm sharing profits in the ratio of 3 : 3 : 4. Their (3)
respective fixed capitals were E ₹ 3,00,000; F ₹ 4,00,000 and G ₹ 5,00,000. The
partnership deed provided for allowing interest on capital @ 12% p.a. even if it
results into a loss to the firm. The net profit of the firm for the year ended 31st
March, 2023 was ₹ 2,10,000.
Pass necessary journal entries for allowing interest on capital and distribution of
profit/loss in the books of the firm.
(or)
P, Q and R were partners with fixed capital of ₹ 40,000, ₹32,000and
₹24,000.After distributing the profit of ₹48,000 for the year ended 31st March
2022 in their agreed ratio of 3 : 1 : 1it was observed that:
(1) Interest on capital was provided at 10% p.a. instead of 5 % p.a.
(2) Salary of ₹ 12,000 was credited to P instead of Q.
You are required to pass a single journal entry in the beginning of the next year
to rectify the aboveomissions.
20. L Ltd forfeited 470 equity shares of ₹ 20 each issued at a premium of ₹ 3 per (3)
share for the non-payment of allotment money of ₹ 8 (including premium ₹ 3)
and first call of ₹ 5 per share. Final call of ₹ 5 per share was not made. Out of
these 235 shares were re-issued at ₹ 19 each fully paid. Pass necessary journal
entries for the above transactions in the books of L Ltd.

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21. Ankit, Bobby and Kartik were partners in a firm sharing profits in the ratio 4 : 3 (4)
: 3. The firm was dissolved on 31-3-2023. Pass the necessary journal entries for
the following transactions after various assets (other than cash and bank) and
third party liabilities had been transferred to realisation account
(i) The firm had stock of ₹ 80,000. Ankit took over 50% of the stock at a
discount of 20% while the remaining stock was sold off at a profit of 30% on
cost.
(ii) Kartik’s loan of ₹ 12,000 was settled at ₹ 12.500
22. SakthiLtd. has an authorised capital of ₹30,00,000 divided into equity shares of (4)
₹ 30 each. The company invited applications for issuing 70,000 shares.
Applications for 68,000 shares were received.
All calls were made and were duly received except the final call of ₹ 10 per
share on 5,000 shares. These shares were forfeited.
(i) Present the share capital in the balance sheet of the company as per Schedule
III of the Companies Act, 2013.
(ii) Also prepare ‘Notes to accounts’ for the same.
23. SakshamLtd., invited applications for issuing 80,000 equity shares of ₹ 100 each (6)
at a premium of ₹ 10.
The amount was payable as follows:
On Application – ₹ 30 ; On allotment – ₹ 30 (including a premium of ₹ 10) ; On
first call –balance
Applications of 2,30,000 shares were received. Allotment was made on pro rata
basis to applicants of 1,80,000 shares and remaining were sent letters of regret.
Excess money on application was to be utilised towards allotment and
subsequent calls.
David, who was allotted 1,600 shares, paid nothing after application. These
shares were forfeited after the first call. 1,000 of these shares were re-issued to
Nagarathinam for ₹ 95 per share as fully paid.
Pass necessary journal entries in books of Saksham Ltd.
(or)
Pritam Ltd invited applications for issuing 1,20,000 shares of ₹10 each at a
premium of ₹3. The amount
was payable as follows:
On Application – ₹ 4 (including ₹ 1 premium) ; On allotment – ₹ 5 (including
₹1 call – balance
Applications of 1,80,000 shares were received. Allotment made as under:
Applicants of 90,000 shares Alloted 80,000 shares.
Applicants of 50,000 shares Alloted 40,000 shares
Remaining application were rejected.
Ruhi, an applicant of 4,500 shares(out of group applying for 90,000 shares)and
Mukti , the holder of 6,000 shares (out of group applying for 50,000 shares)
failed to pay allotment money and their shares
were immediately forfeited and later on re-issued 8,000 shares @ ₹ 7 per share
as ₹ 6 paid up. Reissued shares included all shares of Ruhi .
Pass necessary journal entries in books of Pritam Ltd by opening call in arrears
account.

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24. Aman and Biswas were partners sharing profits and losses in the ratio of 3:2. They (6)
admitted Chetan as a new partner for 25% share. Balance sheet of Aman and Biswas was
as follows on March 31, 2023.

Liabilities ₹ Assets ₹ ₹
Creditors 50,000 Bank 40,000
Employee Provident Fund 60,000 Stock 60,000
General Reserve 40,000 Debtors 1,00,000
Investment fluctuation Less : (-)
50,000
Reserve provision for
doubt. debts -10,000 90,000
Aman’s Capital 2,00,000 Furniture 1,20,000
Biswas’s Capital 1,50,000 Building 1,60,000
Investment 50,000
Goodwill 30,000
5,50,000 5,50,000
Chetan was admitted on the following terms :-
(i) Market value of Investment is ₹ 20,000.
(ii) There was a bad debts amounting to ₹ 6,000 and provision for doubt. Debts is to be
maintained at ₹ 9,000.
(iii) Building was undervalued by 20%.
(iv) Stock was overvalued by 20%.
(v) Goodwill of the firm was valued at ₹ 1,00,000 and Chetan brings his share of goodwill
in cash.
(vi) Chetan was to bring ₹1,30,000 as capital.
Prepare Revaluation Account and Partner’s Capital Account.
(or)
The Balance sheet of P,Q and R who were sharing profits and losses in the ratio 5:3:2 as at
31stMarch 2023.

Liabilities ₹ ₹ Assets ₹
Creditors 50,000 Bank 40,000
Employee Provident Fund 10,000 Stock 80,000
Profit & Loss A/c 85,000 Debtors 1,00,000

Capital A/c s: Fixed Assets 60,000

P 40,000
Q 62,000
R 33,000 1,35,000
2,80,000 2,80,000
a) P retired on 31st March 2023 and Q and R decided to share profits in future in the
ratio of 2:3 respectively . The other terms on retirement were as follows:
b) Goodwill of firm is to be valued at ₹80,000.
c) Fixed assets are to be depreciated by₹ 2,500.
d) A provision for doubtful debts on debtors was to be provided for ₹ 5,000.
e) A liability for claim included in creditors for ₹10,000 is settled at ₹8,000 and
immediately paid by cheque.
f) The amount will be paid to P in the following manner: Q will contribute 1,150 and
R will contribute the rest by cheque and maintaining a minimum balance of 15,000
in Bank account. Pass necessary journal entries
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25. (6)
Liabilities (₹) (₹) Assets (₹)
Creditors 60,000 Cash in Hand 10,000
Bills Payable 20,000 Debtors 70,000
Employees Provident
Fund 50,000 Stock 70,000
Reserve Fund 20,000 Plant & machinery 40,000
Capital Building 80,000
Akum 90,000 Profit and Loss 20,000
Bakum 70,000 1,60,000 Loan to Rajan 20,000
3,10,000 3,10,000

The partners decided to dissolve their firm. Assets are realised as follows:
a) Debtors realised ₹ 50,000; stock realised ₹ 80,000.
b) Akum took away the machinery at an agreed value of ₹ 30,000.
c) Bakum takes over the building at a valuation of ₹ 1,00,000 and agrees to pay off
creditors at a discount of ₹ 5,000.
d) An unrecorded liability of ₹20,000 was discharged by unrecorded asset of ₹ 35,000 in
full settlement.
e)The expenses of realisation came to ₹ 5,000 and were paid by Bakum, however as per
agreement they were to be borne by Akum.
Prepare Realisation Account.

26. On 01 August, 2022, Rockstar Ltd. issued ₹ 40,00,000, 9% Debentures of ₹ 100 each at 5% (6)
Premium, 6 to be redeemed at 12% Premium on March 31, 2023. Balance in Securities
Premium before issue was ₹ 1,50,000. You are required to
(i) Pass entries for issue of debentures.
(ii) Pass entry for writing off loss on Issue of debentures.
(iii)Pass entries for Interest on Debentures on March 31 2023, if it is to be paid on March 31
every year.
(iv) Prepare Loss on issue of debentures account.

PART B
Option - I
(Analysis of Financial Statements)
27. Current Ratio of the company is 1:1. Which of the following will not affect the Current (1)
Ratio but 1 decrease the Quick Ratio.
(a) Purchase of goods on credit
(b) Sale of goods on credit at no profit no loss
(c) Issue of debentures to vendor
(d) Dividend proposed by the directors

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28. Which of the following is not limitation of analysis of financial statements: (1)
a) Window dressing
b) Price level changes ignored
c) Subjectivity
d) Intra -firm comparison possible
(Or)
Which of the following is not an objective of Analysis of financial statements?
a) To judge the financial health of the firm
b) To judge the short term and long-term liquidity position of the firm
c) To judge the reason for change in the profitability of the firm
d) To judge the variations in the accounting practices of the business followed by different
enterprises
29. Read the following information: (1)

31st March 2023 31st March 2023

Plant and Machinery (Cost) ₹ 20,00,000 ₹ 30,00,000

Accumulated Depreciation ₹ 4,80,000 ₹ 5,90,000

During the year a part of machinery book value ₹ 2,00,000 was sold for ₹ 1,10,000.
Depreciation charged during the year was ₹ 1,50,000.
Determine the amount to be shown under non-cash and non-operating expenses while
preparing cash flow statement.
(a) ₹ 1,50,000 (b) ₹ 2,00,000 (c) ₹ 2,40,000 (d) ₹ 50,000
(or)
Read the following Statements:
Statement I: Rent received by a real estate company is an operating activity.
Statement II: Dividend paid by a finance company is financing activity.
Statement III: Current Investment is considered as Cash and Cash Equivalents while
preparing cash flow statement.
Choose the correct option:
(a) Only statement I and II are correct
(b) Only statement II and III are correct
(c) Only statement I and III are correct
(d) All statements are correct

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30. While preparing Cash Flow Statement, which of the following transactions will affect the (1)
cash flow from Investing activities.
(a) Loss on issue of debentures written off from securities premium
(b) Goodwill purchased
(c) Building Purchased by issue of Debentures as consideration
(d) Issue of Bonus shares
31. Profit after tax amounted to ₹6,00,000, and tax rate was 20%. If earnings before interest and (3)
tax was ₹ 9,50,000 and debentures were amounted to
₹ 40,00,000 (assuming the only debt of the company), determine Interest Coverage Ratio.
Also determine the rate of interest on debentures.
32. State the head and sub head under which the following items are shown in the Balance (3)
Sheet of a company as per Companies Act 2013.
a) Finished goods
b) Bank overdraft
c) Prepaid insurance
d) Debenture Redemption Reserve
e) Capital advances
f) Debentures due for redemption at the end of the year

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33. Comparative Statement of Profit & Loss (4)
For the years ended 31st March, 2022 and 2023
Particulars Note 2022 2023 Absolute %
No. Change Change
I Revenue from Operation 40,00,000 ? 20,00,000 ?
II Less Expenses:
Cost of Material Consumed ? 30,00,000 10,00,000 ?
Other Expenses 4,00,000 ? ? 150
Total Expenses ? ? ? ?
III Profit Before Tax ? ? ? ?
(or)
Prepare Common Size Statement of Profit and Loss from the following information of
Amateur Ltd. for the year ended March 31, 2023.
Particulars Amount (in ₹)
Revenue from Operations 250 % of Employee Benefit Expenses
Purchases of Stock in Trade 2,50,000
Opening Inventory 80,000
Closing Inventory 1,55,000
Employee Benefit Expenses 6,00,000
Other Income 3,00,000
10% Debentures 6,00,000
Depreciation on Tangible Assets 75,000
Amortisation of Intangible Assets 15,000
Tax rate 20%
34. Following is the Balance Sheet of Meenu Limited as at 31St March 2023: (6)
Particulars Note No. 31.3.2023 31.3.2022
Equities and
Liabilities ₹ ₹
1. Shareholder’s fund
a) Share Capital 3,00,000 1,00,000
b) Reserve and Surplus 25,000 1,20,000
2. Non -current
liabilities
Long term
a) Borrowings 80,000 60,000
Current Liabilities
a) Trade payables 6,000 20,000
Short term
b) provisions 68,000 70,000
Total 4,79,000 3,70,000

Assets
1. Non -current Assets a) Fixed Assets 3,36,000 1,92,000
2 Current Assets
a) Inventories 67,000 60,000
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 b) Trade Receivables 51,000 65,000
Cash and cash
c) equivalents 25,000 49,000
d) Other Current Assets ------ 4,000
Total 4,79,000 3,70,000

Notes to Accounts:
31.3.2022
31.3.2023(₹) (₹)
Note No. Particulars
1 Reserves and Surplus
Surplus i.e Balance in statement of Profit and Loss 25,000 1,20,000
25,000 1,20,000
2 Long term Borrowings
10% Long term Loan 80,000 60,000
80,000 60,000
3. Short -term Provisions
Provision for Tax 68,000 70,000
68,000 70,000
4 Fixed Assets
Machinery 3,84,000 2,15,000
Less: Accumulated Depreciation -48,000 -23,000
Total 3,36,000 1,92,000
Additional Information:
a) Additional loan was taken on 1st July ,2022.
b) Tax of ₹53,000 was paid during the year.

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 Part B :- Computerised Accounting(Option – II)

27. The syntax of PMT Function is 1

(a) PMT (rate, pv, nper, [fv], [type])
(b) PMT (rate, nper, pv, [fv], [type])
(c) PMT (rate, pv, nper, [type], [fv])
(d) PMT (rate, nper, pv, [type], [fv])
Or

In Excel, the chart tools provide three different options , and

for formatting.
(a) Layout, Format, DataMaker
(b) Design, Layout, Format
(c) Format, Layout, Label
(d) Design, DataMaker, Layout
28. Which formulae would result in TRUE if C4 is less than 10 and D4 is less than 1
100? (a) =AND(C4>10, D4>10)
(b)=AND(C4>10,C4<100).
(c) =AND(C4>10,D4<10).
(d) =AND (C4<10, D4,100)
29. Which function results can be displayed in Auto Calculate? 1
(a) SUM and AVERAGE
(b) MAX and LOOK
(c) LABEL and AVERAGE
(d) MIN and BLANK
Or
When navigating in a workbook, which command is used to move to the
beginning of the current row?
(a) [Ctrl]+[Home]
(b) [Page Up]
(c) [Home]
(d) [Ctrl]+[Backspace]
30. What category of functions is used in this formula: =PMT (C10/12, C8, C9,1) 1
(a) Logical
(b) Financial
(c) Payment
(d) Statistical
31. State any three types of Accounting Vouchers used for entry in Tally software. 3
32. State any three requirements which should be considered before making an 3
investing decision to choose between ‘Desktop database’ or ‘Server database’.
33 State the features of Computerized Accounting system. 4
Or
Explain the use of ‘Conditional Formatting’.
34 Describe two basic methods of charging depreciation. Differentiate between both 6
of them.

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