SET – 4

¯Ö¸üßõÖÖ£Öá ÛúÖê›ü ÛúÖê ˆ¢Ö¸ü-¯Öã×ßÖÛúÖ Ûêú ´ÖãÜÖ-¯Öéšü

¸üÖê»Ö ®ÖÓ. ¯Ö¸ü †¾Ö¿µÖ ×»ÖÜÖë …
Roll No. Candidates must write the Code on
the title page of the answer-book.

• Ûéú¯ÖµÖÖ •ÖÖÑ“Ö Ûú¸ü »Öë ×Ûú ‡ÃÖ ¯ÖÏ¿®Ö-¯Ö¡Ö ´Öë ´ÖãצüŸÖ ¯Öéšü 23 Æïü …
• ¯ÖÏ¿®Ö-¯Ö¡Ö ´Öë ¤üÖ×Æü®Öê ÆüÖ£Ö Ûúß †Öê¸ü פü‹ ÝÖ‹ ÛúÖê›ü ®Ö´²Ö¸ü ÛúÖê ”ûÖ¡Ö ˆ¢Ö¸ü-¯Öã×ßÖÛúÖ Ûêú ´ÖãÜÖ-¯Öéšü ¯Ö¸ü ×»ÖÜÖë …
• Ûéú¯ÖµÖÖ •ÖÖÑ“Ö Ûú¸ü »Öë ×Ûú ‡ÃÖ ¯ÖÏ¿®Ö-¯Ö¡Ö ´Öë 23 ¯ÖÏ¿®Ö Æïü …
• Ûéú¯ÖµÖÖ ¯ÖÏ¿®Ö ÛúÖ ˆ¢Ö¸ü ×»ÖÜÖ®ÖÖ ¿Öãºþ Ûú¸ü®Öê ÃÖê ¯ÖÆü»Öê, ¯ÖÏ¿®Ö ÛúÖ ÛÎú´ÖÖÓÛú †¾Ö¿µÖ ×»ÖÜÖë …
• ‡ÃÖ ¯ÖÏ¿®Ö-¯Ö¡Ö ÛúÖê ¯ÖœÌü®Öê Ûêú ×»Ö‹ 15 ×´Ö®Ö™ü ÛúÖ ÃÖ´ÖµÖ ×¤üµÖÖ ÝÖµÖÖ Æîü … ¯ÖÏ¿®Ö-¯Ö¡Ö ÛúÖ ×¾ÖŸÖ¸üÞÖ ¯Öæ¾ÖÖÔÆü訅 ´Öë 10.15 ²Ö•Öê
×ÛúµÖÖ •ÖÖµÖêÝÖÖ … 10.15 ²Ö•Öê ÃÖê 10.30 ²Ö•Öê ŸÖÛú ”ûÖ¡Ö Ûêú¾Ö»Ö ¯ÖÏ¿®Ö-¯Ö¡Ö ÛúÖê ¯ÖœÌüëÝÖê †Öî¸ü ‡ÃÖ †¾Ö×¬Ö Ûêú ¤üÖî¸üÖ®Ö ¾Öê
ˆ¢Ö¸ü-¯Öã×ßÖÛúÖ ¯Ö¸ü ÛúÖê‡Ô ˆ¢Ö¸ü ®ÖÆüà ×»ÖÜÖëÝÖê …
• Please check that this question paper contains 23 printed pages.
• Code number given on the right hand side of the question paper should be written on the
title page of the answer-book by the candidate.
• Please check that this question paper contains 23 questions.
• Please write down the Serial Number of the question before attempting it.
• 15 minute time has been allotted to read this question paper. The question paper will be
distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the
question paper only and will not write any answer on the answer-book during this period.

»ÖêÜÖÖ¿ÖÖáÖ
ACCOUNTANCY
×®Ö¬ÖÖÔ׸üŸÖ ÃÖ´ÖµÖ : 3 ‘ÖÓ™üê †×¬ÖÛúŸÖ´Ö †ÓÛú : 80
Time allowed : 3 hours Maximum Marks : 80
ÃÖÖ´ÖÖ®µÖ ×®Ö¤ìü¿Ö :
(i) µÖÆü ¯ÖÏ¿®Ö-¯Ö¡Ö ¤üÖê ÜÖÞ›üÖë ´Öë ×¾Ö³ÖŒŸÖ Æîü – Ûú †Öî¸ü ÜÖ …
(ii) ÜÖÞ›ü Ûú ÃÖ³Öß Ûêú ×»Ö‹ †×®Ö¾ÖÖµÖÔ Æîü …
(iii) ÜÖÞ›ü ÜÖ Ûêú ¤üÖê ×¾ÖÛú»¯Ö Æïü – ×¾ÖÛú»¯Ö – I ×¾Ö¢ÖßµÖ ×¾Ö¾Ö¸üÞÖÖë ÛúÖ ×¾Ö¿»ÖêÂÖÞÖ ŸÖ£ÖÖ ×¾ÖÛú»¯Ö – II †×³ÖÛú×»Ö¡Ö
»ÖêÜÖÖÓÛú®Ö …
(iv) ÜÖÞ›ü ÜÖ ÃÖê Ûêú¾Ö»Ö ‹Ûú Æüß ×¾ÖÛú»¯Ö Ûêú ¯ÖÏ¿®ÖÖë Ûêú ˆ¢Ö¸ü ×»Ö×ÜÖ‹ …
(v) ×ÛúÃÖß ¯ÖÏ¿®Ö Ûêú ÃÖ³Öß ÜÖÞ›üÖë Ûêú ˆ¢Ö¸ü ‹Ûú Æüß Ã£ÖÖ®Ö ¯Ö¸ü ×»ÖÜÖê •ÖÖ®Öê “ÖÖ×Æü‹ …
General Instructions :
(i) This question paper contains two parts A and B.
(ii) Part A is compulsory for all.
(iii) Part B has two options – Option – I Analysis of Financial Statements and Option – II
Computerized Accounting.
(iv) Attempt only one option of Part B.
(v) All parts of a question should be attempted at one place.
67/1/1 1 [P.T.O.
 ÜÖÞ›ü – Ûú
PART – A
(ÃÖÖ—Öê¤üÖ¸üß ±ú´ÖÖí ŸÖ£ÖÖ Ûú´¯Ö×®ÖµÖÖë Ûêú ×»Ö‹ »ÖêÜÖÖÓÛú®Ö)
(Accounting for Partnership Firms and Companies)

1. ‹Ûú ÃÖÖ—Öê¤üÖ¸üß ±ú´ÖÔ ´Öë †×¬ÖÛúŸÖ´Ö ×ÛúŸÖ®Öê ÃÖÖ—Öê¤üÖ¸ü ÆüÖê ÃÖÛúŸÖê Æïü ? ˆÃÖ †×¬Ö×®ÖµÖ´Ö ÛúÖ ®ÖÖ´Ö ²ÖŸÖÖ‡‹ וÖÃÖ´Öë
ÃÖÖ—Öê¤üÖ¸üß ±ú´ÖÔ Ûêú †×¬ÖÛúŸÖ´Ö ÃÖÖ—Öê¤üÖ¸üÖë Ûêú ×»Ö‹ ¯ÖÏÖ¾Ö¬ÖÖ®Ö ×ÛúµÖÖ ÝÖµÖÖ Æîü … 1

What is the maximum number of partners that a partnership firm can have ? Name the
Act that provides for the maximum number of partners in a partnership firm.

2. Ûú, ÜÖ ŸÖ£ÖÖ ÝÖ ‹Ûú ±ú´ÖÔ ´Öë ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 3 : 2 : 1 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … ˆ®ÆüÖë®Öê »ÖÖ³Ö Ûêú 1/8 ³ÖÖÝÖ
Ûêú ×»Ö‹ ‘Ö ÛúÖê ‹Ûú ®ÖµÖÖ ÃÖÖ—Öê¤üÖ¸ü ²Ö®ÖÖµÖÖ ×•ÖÃÖê ˆÃÖ®Öê 1/16 ³ÖÖÝÖ ÜÖ ÃÖê ŸÖ£ÖÖ 1/16 ³ÖÖÝÖ ÝÖ ÃÖê ¯ÖÏÖ¯ŸÖ ×ÛúµÖÖ …
Ûú, ÜÖ, ÝÖ ŸÖ£ÖÖ ‘Ö Ûêú ®ÖµÖê »ÖÖ³Ö †®Öã¯ÖÖŸÖ Ûúß ÝÖÞÖ®ÖÖ Ûúßו֋ … 1

A, B and C were partners in a firm sharing profits in the ratio of 3:2:1. They admitted D
as a new partner for 1/8th share in the profits, which he acquired 1/16th from B and 1/16th
from C.

Calculate the new profit sharing ratio of A, B, C and D.

3. ‘ÃÖÖ—Öê¤üÖ¸üß Ûêú ×¾Ö‘Ö™ü®Ö’ ŸÖ£ÖÖ ‘ÃÖÖ—Öê¤üÖ¸üß ±ú´ÖÔ Ûêú ×¾Ö‘Ö™ü®Ö’ Ûêú ´Ö¬µÖ ‘†ÖÙ£ÖÛú ÃÖ´²Ö®¬Ö’ Ûêú †Ö¬ÖÖ¸ü ¯Ö¸ü †®ŸÖ¸ü
¤üßו֋ … 1

Distinguish between ‘Dissolution of Partnership’ and ‘Dissolution of Partnership Firm’

on the basis of ‘Economic Relationship’.

4. ‘ŠúÞÖ¯Ö¡Ö ¿ÖÖê¬Ö®Ö ÛúÖêÂÖ’ ²Ö®ÖÖ®Öê Ûêú ×»Ö‹ Ûú´¯Ö®Öß †×¬Ö×®ÖµÖ´Ö, 2013 Ûêú ¯ÖÏÖ¾Ö¬ÖÖ®ÖÖë ÛúÖ ˆ»»ÖêÜÖ Ûúßו֋ … 1

State the provisions of the Companies Act, 2013 for the creation of ‘Debenture
Redemption Reserve’.
67/1/1 2
5. 1-1-2016 ÛúÖê ÛúÖ×´Ö®Öß ×»Ö×´Ö™êü›ü «üÖ¸üÖ ×®ÖÝÖÔ×´ÖŸÖ ×ÛúµÖê ÝÖµÖê 1,00,000 ÃÖ´ÖŸÖÖ †Ó¿ÖÖë ¯Ö¸ü ` 3 ¯ÖÏ×ŸÖ †Ó¿Ö Ûúß ¯ÖÏ£Ö´Ö
µÖÖ“Ö®ÖÖ ¸üÖ×¿Ö ¤êüµÖ ÆüÖê ÝÖ‡Ô … 500 †Ó¿ÖÖë Ûêú ‹Ûú ¬ÖÖ¸üÛú Ûú¸ü®Ö ®Öê ¯ÖÏ£Ö´Ö µÖÖ“Ö®ÖÖ ¸üÖ×¿Ö ÛúÖ ³ÖãÝÖŸÖÖ®Ö ®ÖÆüà ×ÛúµÖÖ …
1000 †Ó¿ÖÖë Ûêú ‹Ûú †Ó¿Ö¬ÖÖ¸üÛú †•ÖãÔ®Ö ®Öê ¯ÖÏ£Ö´Ö µÖÖ“Ö®ÖÖ Ûêú ÃÖÖ£Ö ` 5 ¯ÖÏ×ŸÖ †Ó¿Ö Ûúß ¤æüÃÖ¸üß ŸÖ£ÖÖ †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ
¸üÖ×¿Ö ÛúÖ ³ÖãÝÖŸÖÖ®Ö ³Öß Ûú¸ü פüµÖÖ …
Ûú´¯Ö®Öß Ûúß ¯ÖãßÖÛúÖë ´Öë †¤ü¢Ö µÖÖ“Ö®ÖÖ ÜÖÖŸÖÖ ŸÖ£ÖÖ ¯Öæ¾ÖÔ¤ü¢Ö µÖÖ“Ö®ÖÖ ÜÖÖŸÖÖ ÜÖÖê»ÖŸÖê Æãü‹ ¯ÖÏÖ¯ŸÖ ¬Ö®Ö¸üÖ×¿Ö ÃÖê ÃÖ´²Ö×®¬ÖŸÖ
†Ö¾Ö¿µÖÛú ¸üÖê•Ö®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™ü Ûúßו֋ … 1
On 1-1-2016 the first call of ` 3 per share became due on 1,00,000 equity shares issued
by Kamini Ltd. Karan a holder of 500 shares did not pay the first call money. Arjun a
shareholder holding 1000 shares paid the second and final call of ` 5 per share along
with the first call.
Pass the necessary journal entry for the amount received by opening ‘Calls-in-
arrears’ and ‘Calls-in-advance’ account in the books of the company.

6. ®ÖãÃÖ¸üŸÖ ŸÖ£ÖÖ ÃÖÖê®Öæ ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 3 : 2 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 31-3-2015 ÛúÖê ÃÖ´ÖÖ¯ŸÖ
Æãü‹ ¾ÖÂÖÔ ´Öë ®ÖãÃÖ¸üŸÖ ®Öê ` 15,000 ÛúÖ †ÖÆü¸üÞÖ ×ÛúµÖÖ … ˆÃÖÛêú †ÖÆü¸üÞÖ ¯Ö¸ü ²µÖÖ•Ö ` 300 £ÖÖ …
µÖÆü ´ÖÖ®ÖŸÖê Æãü‹ ×Ûú ÃÖÖ—Öê¤üÖ¸üÖë Ûúß ¯ÖæÑ•Öß Ã£ÖÖµÖß £Öß, †ÖÆü¸üÞÖ ¯Ö¸ü ²µÖÖ•Ö »ÖÝÖÖ®Öê Ûêú ×»Ö‹ †Ö¾Ö¿µÖÛú ¸üÖê•Ö®ÖÖ´Ö“ÖÖ
¯ÖÏ×¾Ö×™ü Ûúßו֋ … 1
Nusrat and Sonu were partners in a firm sharing profits in the ratio of 3:2. During the
year ended 31-3-2015 Nusrat had withdrawn ` 15,000. Interest on her drawings
amounted to ` 300.
Pass necessary journal entry for charging interest on drawings assuming that the
capitals of the partners were fixed.

7. 4-3-2016 ÛúÖê Ûêú.™üß.†Ö¸ü. ×»Ö×´Ö™êü›ü ®Öê ` 1,000 ¯ÖÏŸµÖêÛú Ûêú 365, 9% ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ×®ÖÝÖÔ´Ö®Ö ×ÛúµÖÖ … ×®Ö´®Ö
¯Ö׸ü×ãÖןֵÖÖë ´Öë ŠúÞÖ¯Ö¡ÖÖë Ûêú ×®ÖÝÖÔ´Ö®Ö Ûêú ×»Ö‹ †Ö¾Ö¿µÖÛú ¸üÖê•Ö®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ :
(Ûú) •Ö²Ö ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ×®ÖÝÖÔ´Ö®Ö ÃÖ´Ö´Öæ»µÖ ¯Ö¸ü ×ÛúµÖÖ ÝÖµÖÖ ŸÖ£ÖÖ ‡®ÖÛúÖ ¿ÖÖê¬Ö®Ö 10% Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×ÛúµÖÖ •ÖÖ®ÖÖ
Æîü …
(ÜÖ) •Ö²Ö ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ×®ÖÝÖÔ´Ö®Ö 6% Ûêú ²Ö¼êü ¯Ö¸ü ×ÛúµÖÖ ÝÖµÖÖ ŸÖ£ÖÖ ‡®ÖÛúÖ ¿ÖÖê¬Ö®Ö 5% Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×ÛúµÖÖ
•ÖÖ®ÖÖ Æîü … 3
KTR Ltd., issued 365, 9% Debentures of ` 1,000 each on 4-3-2016. Pass necessary
journal entries for the issue of debentures in the following situations :
(a) When debentures were issued at par redeemable at a premium of 10%.
(b) When debentures were issued at 6% discount redeemable at 5% premium.
67/1/1 3 [P.T.O.
8. (i) ®ÖµÖê ÃÖÖ—Öê¤üÖ¸ü Ûêú ¯ÖϾÖê¿Ö; (ii) ‹Ûú ÃÖÖ—Öê¤üÖ¸ü ÛúÖ †¾ÖÛúÖ¿Ö ÝÖÏÆüÞÖ ŸÖ£ÖÖ (iii) ‹Ûú ÃÖÖ—Öê¤üÖ¸ü Ûêú ×®Ö¬Ö®Ö Ûêú †×ŸÖ׸üŒŸÖ
×Ûú®Æüà ‹êÃÖß ŸÖß®Ö ×ãÖןֵÖÖë ÛúÖ ˆ»»ÖêÜÖ Ûúßו֋ •Ö²Ö ±ú´ÖÔ Ûúß ÜµÖÖ×ŸÖ Ûúß ÝÖÞÖ®ÖÖ Ûúß †Ö¾Ö¿µÖÛúŸÖÖ ÆüÖê ÃÖÛúŸÖß Æîü … 3

State any three circumstances other than (i) admission of a new partner; (ii) retirement of
a partner and (iii) death of a partner, when need for valuation of goodwill of a firm may
arise.

9. ÃÖÓ¤üê¿Ö ×»Ö×´Ö™êü›ü ®Öê ÃÖÓ“ÖÖ¸ü ×»Ö×´Ö™êü›ü Ûúß ` 7,00,000 Ûúß ÃÖ´¯Ö×¢ÖµÖÖÑ ŸÖ£ÖÖ ` 2,00,000 Ûúß ¤êüµÖŸÖÖ†Öë ÛúÖ
†×¬ÖÝÖÏÆüÞÖ ` 4,59,500 ´Öë ×ÛúµÖÖ … ` 8,500 ÛúÖ ³ÖãÝÖŸÖÖ®Ö ÃÖÓ“ÖÖ¸ü ×»Ö×´Ö™êü›ü Ûêú ¯ÖõÖ ´Öë ŸÖß®Ö ´ÖÖÃÖ Ûêú ¯Ö¿“ÖÖŸÖË ¤êüµÖ
›ÒüÖ°™ü ÛúÖê þÖßÛéúŸÖ Ûú¸üÛúê ×ÛúµÖÖ ŸÖ£ÖÖ ¿ÖêÂÖ ÛúÖ ³ÖãÝÖŸÖÖ®Ö ÃÖÓ“ÖÖ¸ü ×»Ö×´Ö™êü›ü Ûêú ¯ÖõÖ ´Öë ` 10 ¯ÖÏ×ŸÖ Ûêú ÃÖ´ÖŸÖÖ †Ó¿ÖÖë ÛúÖê
10% Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×®ÖÝÖÔ×´ÖŸÖ Ûú¸üÛúê ×ÛúµÖÖ ÝÖµÖÖ …

ˆ¯Ö¸üÖêŒŸÖ »Öê®Ö¤êü®ÖÖë Ûêú ×»Ö‹ ÃÖÓ¤üê¿Ö ×»Ö×´Ö™êü›ü Ûúß ¯ÖãßÖÛúÖë ´Öë †Ö¾Ö¿µÖÛú ¸üÖê•Ö®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ … 3
Sandesh Ltd. took over the assets of ` 7,00,000 and liabilities of ` 2,00,000 from
Sanchar Ltd. for a purchase consideration of ` 4,59,500. ` 8,500 were paid by accepting
a draft in favour of Sanchar Ltd. payable after three months and the balance was paid by
issue of equity shares of ` 10 each at a premium of 10% in favour of Sanchar Ltd.
Pass necessary journal entries for the above transactions in the books of
Sandesh Ltd.

10. ®Ö¾ÖµÖã¾ÖÛúÖë ÛúÖê ¸üÖê•ÖÌÝÖÖ¸ü ¯ÖϤüÖ®Ö Ûú¸ü®Öê ÆêüŸÖã ŸÖ£ÖÖ ”û¢ÖßÃÖÝÖœÌü Ûêú ®ÖŒÃÖ»Ö ¯ÖϳÖÖ×¾ÖŸÖ ×¯Ö”û›üÌê õÖê¡ÖÖë Ûêú ×¾ÖÛúÖÃÖ ´Öë ÃÖÆüÖµÖŸÖÖ
Ûêú ×»Ö‹ ‹ŒÃÖ ×»Ö×´Ö™êü›ü ®Öê ¾ÖÆüÖÑ ¯Ö¸ü ‹Ûú ¯ÖÖ¾Ö¸ü ¯»ÖÖÓ™ü »ÖÝÖÖ®Öê ÛúÖ ×®ÖÞÖÔµÖ ×ÛúµÖÖ … ¬Ö®Ö ‹Ûú×¡ÖŸÖ Ûú¸ü®Öê Ûêú ×»Ö‹
Ûú´¯Ö®Öß ®Öê ` 10 ¯ÖÏŸµÖêÛú Ûêú 7,50,000 ÃÖ´ÖŸÖÖ †Ó¿ÖÖë ÛúÖê 50% Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×®ÖÝÖÔ×´ÖŸÖ Ûú¸ü®Öê ÛúÖ ×®ÖÞÖÔµÖ
×ÛúµÖÖ … ÃÖ³Öß †Ó¿Ö¸üÖ×¿Ö †Ö¾Öê¤ü®Ö ¯Ö¸ü ¤êüµÖ £Öß … 20,00,000 †Ó¿ÖÖë Ûêú ×»Ö‹ †Ö¾Öê¤ü®Ö ¯ÖÏÖ¯ŸÖ Æãü‹ … 50,000 †Ó¿ÖÖë
Ûêú ×»Ö‹ †Ö¾Öê¤ü®ÖÖë ÛúÖê ¸ü§ü Ûú¸ü פüµÖÖ ÝÖµÖÖ ŸÖ£ÖÖ ¿ÖêÂÖ †Ö¾Öê¤üÛúÖë ÛúÖê †®Öã¯ÖÖןÖÛú †Ö¬ÖÖ¸ü ¯Ö¸ü †Ó¿ÖÖë ÛúÖ †Ö²ÖÓ™ü®Ö Ûú¸ü
פüµÖÖ ÝÖµÖÖ …
ˆ¯Ö¸üÖêŒŸÖ »Öê®Ö¤êü®ÖÖë Ûêú ×»Ö‹ Ûú´¯Ö®Öß Ûúß ¯ÖãßÖÛúÖë ´Öë †Ö¾Ö¿µÖÛú ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ ŸÖ£ÖÖ ‹êÃÖê
×Ûú®Æüà ¤üÖê ´Ö滵ÖÖë Ûúß ¯ÖÆü“ÖÖ®Ö Ûúßו֋ ו֮Æëü Ûú´¯Ö®Öß ¯ÖÏ“ÖÖ׸üŸÖ Ûú¸ü®ÖÖ “ÖÖÆüŸÖß Æîü … 3
To provide employment to the youth and to develop the Naxal affected backward areas
of Chattisgarh. X Ltd. decided to set-up a power plant. For raising funds the company
decided to issue 7,50,000 equity shares of ` 10 each at a premium of 50%. The whole
amount was payable on application. Applications for 20,00,000 shares were received.
Applications for 50,000 shares were rejected and shares were allotted to the remaining
applicants on pro-rata basis.
Pass necessary journal entries for the above transactions in the books of the
company and identify any two values which X Ltd. wants to propagate.
67/1/1 4
11. ¯Öß. ŸÖ£ÖÖ ŒµÖæ. ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 5 : 3 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 1-4-2014 ÛúÖê ˆ®ÆüÖë®Öê »ÖÖ³Ö
Ûêú 1/8 ³ÖÖÝÖ Ûêú ×»Ö‹ †Ö¸ü. ÛúÖê ‹Ûú ®ÖµÖÖ ÃÖÖ—Öê¤üÖ¸ü ²Ö®ÖÖµÖÖ ŸÖ£ÖÖ ˆÃÖê ` 75,000 Ûêú »ÖÖ³Ö Ûúß ÝÖÖ¸Óü™üß ¤üß ÝÖ‡Ô … ¯Öß.
ŸÖ£ÖÖ ŒµÖæ. ÛúÖ ®ÖµÖÖ »ÖÖ³Ö †®Öã¯ÖÖŸÖ ¯ÖÆü»Öê •ÖîÃÖÖ ¸üÆüêÝÖÖ ¯Ö¸ü®ŸÖã †Ö¸ü. ÛúÖê ÝÖÖ¸Óü™üß Ûêú ÛúÖ¸üÞÖ Æãü‡Ô ×ÛúÃÖß ³Öß Ûú´Öß ÛúÖê ¾Öê
3:2 Ûêú †®Öã¯ÖÖŸÖ ´Öë ¾ÖÆü®Ö Ûú¸ü®Öê ¯Ö¸ü ÃÖÆü´ÖŸÖ Æãü‹ … 31-3-2015 ÛúÖê ÃÖ´ÖÖ¯ŸÖ Æãü‹ ¾ÖÂÖÔ ´Öë ±ú´ÖÔ ÛúÖ »ÖÖ³Ö
` 4,00,000 £ÖÖ …
31 ´ÖÖ“ÖÔ, 2015 ÛúÖê ÃÖ´ÖÖ¯ŸÖ Æãü‹ ¾ÖÂÖÔ Ûêú ×»Ö‹ ¯Öß., ŒµÖæ. ŸÖ£ÖÖ †Ö¸.ü ÛúÖ »ÖÖ³Ö-ÆüÖ×®Ö ×¾Ö×®ÖµÖÖê•Ö®Ö ÜÖÖŸÖÖ
ŸÖîµÖÖ¸ü Ûúßו֋ … 4

P and Q were partners in a firm sharing profits in the ratio of 5:3. On 1-4-2014 they
admitted R as a new partner for 1/8th share in the profits with a guaranteed profit of
` 75,000. The new profit sharing ratio between P and Q will remain the same but they
agreed to bear any deficiency on account of guarantee to R in the ratio 3:2. The profit of
the firm for the year ended 31-3-2015 was ` 4,00,000.

Prepare Profit and Loss Appropriation Account of P, Q and R for the year ended
31-3-2015.

12. ×¾ÖÛúÖÃÖ, ×¾Ö¿ÖÖ»Ö ŸÖ£ÖÖ ¾Öî³Ö¾Ö ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 2 : 2 : 1 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … ±ú´ÖÔ †¯Ö®Öß
¯ÖãßÖÛëú ¯ÖÏ×ŸÖ ¾ÖÂÖÔ 31 ´ÖÖ“ÖÔ ÛúÖê ²ÖÓ¤ü Ûú¸üŸÖß Æîü … 31-12-2015 ÛúÖê ¾Öî³Ö¾Ö ÛúÖ ¤êüÆüÖ®ŸÖ ÆüÖê ÝÖµÖÖ … ˆÃÖ ×ŸÖ×£Ö ÛúÖê
ˆÃÖÛêú ¯ÖæÑ•Öß ÜÖÖŸÖê ´Öë ` 3,80,000 ÛúÖ •Ö´ÖÖ ¿ÖêÂÖ £ÖÖ ŸÖ£ÖÖ ±ú´ÖÔ Ûúß ÜµÖÖ×ŸÖ ÛúÖ ´Ö滵ÖÖÓÛú®Ö ` 1,20,000 ×ÛúµÖÖ
ÝÖµÖÖ … »ÖÖ³Ö-ÆüÖ×®Ö ÜÖÖŸÖê ´Öë ` 50,000 ÛúÖ ®ÖÖ´Ö ¿ÖêÂÖ £ÖÖ … ´Ö韵Öã Ûêú ¾ÖÂÖÔ ´Öë ¾Öî³Ö¾Ö Ûêú »ÖÖ³Ö Ûúß ÝÖÞÖ®ÖÖ ×¯Ö”û»Öê ¯ÖÖÑ“Ö
¾ÖÂÖÖí Ûêú †ÖîÃÖŸÖ »ÖÖ³Ö Ûêú †Ö¬ÖÖ¸ü ¯Ö¸ü Ûúß •ÖÖµÖêÝÖß … ׯ֔û»Öê ¯ÖÖÑ“Ö ¾ÖÂÖÖí ÛúÖ †ÖîÃÖŸÖ »ÖÖ³Ö ` 75,000 £ÖÖ …
¾Öî³Ö¾Ö Ûêú ×®Ö¬Ö®Ö ¯Ö¸ü ±ú´ÖÔ Ûúß ¯ÖãßÖÛúÖë ´Öë †Ö¾Ö¿µÖÛú ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ … 4

Vikas, Vishal and Vaibhav were partners in a firm sharing profits in the ratio of 2:2:1.
The firm closes its books on 31st March every year. On 31-12-2015 Vaibhav died. On
that date his Capital account showed a credit balance of ` 3,80,000 and Goodwill of the
firm was valued at ` 1,20,000. There was a debit balance of ` 50,000 in the profit and
loss account. Vaibhav’s share of profit in the year of his death was to be calculated on
the basis of the average profit of last five years. The average profit of last five years was
` 75,000.
Pass necessary journal entries in the books of the firm on Vaibhav’s death.
67/1/1 5 [P.T.O.
13. ‹»Ö. ŸÖ£ÖÖ ‹´Ö. ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 2 : 3 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 28-2-2016 ÛúÖê ±ú´ÖÔ ÛúÖ
×¾Ö‘Ö™ü®Ö ÆüÖê ÝÖµÖÖ … ÃÖ´¯Ö×¢ÖµÖÖë (¸üÖêÛú›Ì Ûêú †×ŸÖ׸üŒŸÖ) ŸÖ£ÖÖ ²ÖÖÊ ¤êüµÖŸÖÖ†Öë ÛúÖê ¾ÖÃÖæ»Öß ÜÖÖŸÖê ´Öë ãÖÖ®ÖÖ®ŸÖ׸üŸÖ Ûú¸ü®Öê
Ûêú ¯Ö¿“ÖÖŸÖË †Ö¯ÖÛúÖê ×®Ö´®Ö ÃÖæ“Ö®ÖÖ ¤üß •ÖÖŸÖß Æîü :
(Ûú) ` 1,40,000 Ûêú ‹Ûú »Öê®Ö¤üÖ¸ü ®Öê ` 1,80,000 ¯Ö¸ü ´Ö滵ÖÖÓ×ÛúŸÖ ×Ûú‹ ÝÖµÖê ³Ö¾Ö®Ö ÛúÖê »Öê ×»ÖµÖÖ ŸÖ£ÖÖ ±ú´ÖÔ ÛúÖê
` 40,000 ÛúÖ ³ÖãÝÖŸÖÖ®Ö Ûú¸ü פüµÖÖ …
(ÜÖ) ` 30,000 Ûêú ‹Ûú ¤æüÃÖ¸êü »Öê®Ö¤üÖ¸ü ®Öê ` 28,000 ´Öæ»µÖ Ûúß ‹Ûú ´Ö¿Öָ߮üß †¯Ö®Öê ¤üÖ¾Öê Ûêú ¯ÖæÞÖÔ ×®Ö¯Ö™üÖ¸êü ´Öë
þÖßÛúÖ¸ü Ûúß …
(ÝÖ) ` 70,000 Ûêú ‹Ûú ŸÖßÃÖ¸êü »Öê®Ö¤üÖ¸ü ®Öê †¯Ö®Öê ¤üÖ¾Öê Ûêú ¯ÖæÞÖÔ ×®Ö¯Ö™üÖ¸êü ÆêüŸÖã ` 30,000 ®ÖÝÖ¤ü ŸÖ£ÖÖ ` 45,000
¯ÖãßÖÛú ´Öæ»µÖ Ûêú ×®Ö¾Öê¿Ö þÖßÛúÖ¸ü ×Ûú‹ …
(‘Ö) ×¾Ö‘Ö™ü®Ö ¯Ö¸ü ` 4,000 Ûúß ÆüÖ×®Ö Æãü‡Ô …
µÖÆü ´ÖÖ®ÖŸÖê Æãü‹ ×Ûú ÃÖ³Öß ³ÖãÝÖŸÖÖ®Ö “ÖîÛú «üÖ¸üÖ ×Ûú‹ ÝÖ‹, ˆ¯Ö¸üÖêŒŸÖ »Öê®Ö¤êü®ÖÖë Ûêú ×»Ö‹ ±ú´ÖÔ Ûúß ¯ÖãßÖÛúÖë ´Öë
†Ö¾Ö¿µÖÛú ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ … 6
L and M were partners in a firm sharing profits in the ratio of 2:3. On 28-2-2016 the
firm was dissolved. After transferring assets (other than cash) and outsiders’ liabilities to
realization account you are given the following information :
(a) A creditor for ` 1,40,000 accepted building valued at ` 1,80,000 and paid to the
firm ` 40,000.
(b) A second creditor for ` 30,000 accepted machinery valued at ` 28,000 in full
settlement of his claim.
(c) A third creditor amounting to ` 70,000 accepted ` 30,000 in cash and investments
of the book value of ` 45,000 in full settlement of his claim.
(d) Loss on dissolution was ` 4,000.
Pass necessary journal entries for the above transactions in the books of the firm
assuming that all payments were made by cheque.

14. †¿ÖÖêÛú, ³Öß´Ö ŸÖ£ÖÖ “ÖêŸÖ®Ö ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 3 : 2 : 1 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 31-3-2015
ÛúÖê ˆ®ÖÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ×®Ö´®Ö ¯ÖÏÛúÖ¸ü ÃÖê £ÖÖ :
31-3-2015 ÛúÖê †¿ÖÖêÛú, ³Öß´Ö ŸÖ£ÖÖ “ÖêŸÖ®Ö ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ
¸üÖ×¿Ö ¸üÖ׿Ö
¤êüµÖŸÖÖ‹Ñ ÃÖ´¯Ö×¢ÖµÖÖÑ
`)
(` `)
(`
»Öê®Ö¤üÖ¸ü 1,00,000 ³Öæ×´Ö 1,00,000
¤êüµÖ ×²Ö»Ö 40,000 ³Ö¾Ö®Ö 1,00,000
ÃÖÖ´ÖÖ®µÖ ÃÖÓ“ÖµÖ 60,000 ¯»ÖÖÓ™ü 2,00,000
¯ÖæÑ•Öß : ÙüÖòÛú 80,000
†¿ÖÖêÛú 2,00,000 ¤êü®Ö¤üÖ¸ü 60,000
³Öß´Ö 1,00,000 ²ÖïÛú 10,000
“ÖêŸÖ®Ö 50,000 3,50,000
5,50,000 5,50,000
67/1/1 6
 1 †¯ÖÏî»Ö, 2015 ÃÖê †¿ÖÖêÛú, ³Öß´Ö ŸÖ£ÖÖ “ÖêŸÖ®Ö ®Öê ³Ö×¾Ö嵅 ´Öë »ÖÖ³Ö ²Ö¸üÖ²Ö¸ü-²Ö¸üÖ²Ö¸ü ²ÖÖÑ™ü®Öê ÛúÖ ×®ÖÞÖÔµÖ ×»ÖµÖÖ … ‡ÃÖÛêú
×»Ö‹ µÖÆü ÃÖ´Ö—ÖÖîŸÖÖ Æãü†Ö ×Ûú :
(i) ±ú´ÖÔ Ûúß ÜµÖÖ×ŸÖ ÛúÖ ´Ö滵ÖÖÓÛú®Ö ` 3,00,000 ×ÛúµÖÖ •ÖÖµÖê …
(ii) ³Öæ×´Ö ÛúÖ ¯Öã®Ö´ÖæÔ»µÖÖÓÛú®Ö ` 1,60,000 ¯Ö¸ü ×ÛúµÖÖ •ÖÖµÖê ŸÖ£ÖÖ ³Ö¾Ö®Ö ¯Ö¸ü 6% ´Ö滵ÖÈüÖÃÖ »ÖÝÖÖµÖÖ •ÖÖµÖê …
(iii) ` 12,000 Ûêú »Öê®Ö¤üÖ¸ü ¤üÖ¾ÖÖ ¯ÖÏßÖãŸÖ ®ÖÆüà Ûú¸ëüÝÖë †ŸÖ: ‡®Æëü †¯Ö×»Ö×ÜÖŸÖ Ûú¸ü פüµÖÖ •ÖÖ®ÖÖ “ÖÖ×Æü‹ …
¯Öã®Ö´ÖæÔ»µÖÖÓÛú®Ö ÜÖÖŸÖÖ, ÃÖÖ—Öê¤üÖ¸üÖë Ûêú ¯ÖæÑ•Öß ÜÖÖŸÖê ŸÖ£ÖÖ ¯Öã®ÖÝÖÔךüŸÖ ±ú´ÖÔ ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûúßו֋ … 6

Ashok, Bhim and Chetan were partners in a firm sharing profits in the ratio of 3:2:1.
Their Balance Sheet as on 31-3-2015 was as follows :

Balance Sheet of Ashok, Bhim and Chetan as on 31-3-2015

Amount Amount
Liabilities Assets
`)
(` `)
(`

Creditors 1,00,000 Land 1,00,000

Bills Payable 40,000 Building 1,00,000

General Reserve 60,000 Plant 2,00,000

Capitals : Stock 80,000

Ashok 2,00,000 Debtors 60,000

Bhim 1,00,000 Bank 10,000

Chetan 50,000 3,50,000

5,50,000 5,50,000

Ashok, Bhim and Chetan decided to share the future profits equally, w.e.f. April 1,
2015. For this it was agreed that :
(i) Goodwill of the firm be valued at ` 3,00,000.
(ii) Land be revalued at ` 1,60,000 and building be depreciated by 6%.
(iii) Creditors of ` 12,000 were not likely to be claimed and hence be writtenoff.
Prepare Revaluation Account, Partners’ Capital Accounts and Balance Sheet of
the reconstituted firm.
67/1/1 7 [P.T.O.
15. 1-4-2013 ÛúÖê •Öê.‹®Ö. ×»Ö×´Ö™êü›ü Ûêú ` 100 ¯ÖÏŸµÖêÛú Ûêú 10,000, 9% ŠúÞÖ¯Ö¡Ö †¤ü¢Ö £Öê …
(i) 1-4-2014 ÛúÖê Ûú´¯Ö®Öß ®Öê ÜÖã»Öê ²ÖÖ•ÖÖ¸ü ÃÖê þֵÖÓ Ûêú 2,000 ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ÛÎúµÖ ` 101 ¯ÖÏ×ŸÖ ŠúÞÖ¯Ö¡Ö Ûúß ¤ü¸ü
ÃÖê ×ÛúµÖÖ ŸÖ£ÖÖ ‡®Æëü ŸÖã¸ü®ŸÖ ¸ü§ü Ûú¸ü פüµÖÖ …
(ii) 1-4-2015 ÛúÖê Ûú´¯Ö®Öß ®Öê »ÖÖò™ü¸üß «üÖ¸üÖ ` 4,00,000 Ûêú ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ¿ÖÖê¬Ö®Ö ÃÖ´Ö´Öæ»µÖ ¯Ö¸ü ×ÛúµÖÖ …
(iii) 28-2-2016 ÛúÖê ¿ÖêÂÖ ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ÛÎúµÖ ŸÖã¸ü®ŸÖ ¸ü§ü Ûú¸ü®Öê Ûêú ×»Ö‹ ` 3,97,000 ´Öë ×ÛúµÖÖ ÝÖµÖÖ …
ŠúÞÖ¯Ö¡Ö ¿ÖÖê¬Ö®Ö ÛúÖêÂÖ ŸÖ£ÖÖ ŠúÞÖ¯Ö¡ÖÖë ¯Ö¸ü ²µÖÖ•Ö ÛúÖê ÃÖÓ–ÖÖ®Ö ´Öë ®Ö »ÖêŸÖê Æãü‹, ˆ¯Ö¸üÖêŒŸÖ »Öê®Ö¤êü®ÖÖë Ûêú ×»Ö‹ Ûú´¯Ö®Öß
Ûúß ¯ÖãßÖÛúÖë ´Öë †Ö¾Ö¿µÖÛú ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ … 6
On 1-4-2013 JN Ltd. had 10,000, 9% Debentures of ` 100 each outstanding.
(i) On 1-4-2014 the company purchased in the open market 2000 of its own
debentures for ` 101 each and cancelled the same immediately.
(ii) On 1-4-2015 the company redeemed at par debentures of ` 4,00,000 by draw of a
lot.
(iii) On 28-2-2016 the remaining debentures were purchased for immediate
cancellation for ` 3,97,000.
Pass necessary journal entries for the above transactions in the books of the
company ignoring debenture redemption reserve and interest on debentures.

16. Ûêú.‹ÃÖ. ×»Ö×´Ö™êü›ü ®Öê ` 10 ¯ÖÏŸµÖêÛú Ûêú 1,60,000 ÃÖ´ÖŸÖÖ †Ó¿ÖÖë ÛúÖê ` 6 ¯ÖÏ×ŸÖ †Ó¿Ö Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×®ÖÝÖÔ×´ÖŸÖ Ûú¸ü®Öê
Ûêú ×»Ö‹ †Ö¾Öê¤ü®Ö †Ö´Ö×®¡ÖŸÖ ×ÛúµÖê … ¸üÖ×¿Ö ×®Ö´®Ö ¯ÖÏÛúÖ¸ü ÃÖê ¤êüµÖ £Öß :
†Ö¾Öê¤ü®Ö ¯Ö¸ü – ` 4 ¯ÖÏ×ŸÖ †Ó¿Ö (` 1 ¯ÖÏ×ŸÖ †Ó¿Ö Ûêú †×¬Ö»ÖÖ³Ö ÃÖ×ÆüŸÖ)
†Ö²ÖÓ™ü®Ö ¯Ö¸ü – ` 6 ¯ÖÏ×ŸÖ †Ó¿Ö (` 3 ¯ÖÏ×ŸÖ †Ó¿Ö Ûêú ¯ÖÏß×´ÖµÖ´Ö ÃÖ×ÆüŸÖ)
¯ÖÏ£Ö´Ö ŸÖ£ÖÖ †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ ¯Ö¸ü – ¿ÖêÂÖ
3,20,000 †Ó¿ÖÖë Ûêú ×»Ö‹ †Ö¾Öê¤ü®Ö ¯ÖÏÖ¯ŸÖ Æãü‹ … 80,000 †Ó¿ÖÖë Ûêú ×»Ö‹ †Ö¾Öê¤ü®ÖÖë ÛúÖê ¸ü§ü Ûú¸ü פüµÖÖ ÝÖµÖÖ
ŸÖ£ÖÖ †Ö¾Öê¤ü®Ö ¸üÖ×¿Ö ¾ÖÖׯÖÃÖ Ûú¸ü ¤üß ÝÖ‡Ô … ¿ÖêÂÖ †Ö¾Öê¤üÛúÖë ÛúÖê †®Öã¯ÖÖןÖÛú †Ö¬ÖÖ¸ü ¯Ö¸ü †Ó¿ÖÖë ÛúÖ †Ö²ÖÓ™ü®Ö Ûú¸ü פüµÖÖ
ÝÖµÖÖ … †Ö¾Öê¤ü®Ö ¯Ö¸ü ¯ÖÏÖ¯ŸÖ †×ŸÖ׸üŒŸÖ ¸üÖ×¿Ö ÛúÖ ÃÖ´ÖÖµÖÖê•Ö®Ö †Ö²ÖÓ™ü®Ö ¯Ö¸ü ¤êüµÖ ¸üÖ×¿Ö ´Öë Ûú¸ü ×»ÖµÖÖ ÝÖµÖÖ … 800 †Ó¿ÖÖë
Ûêú †Ó¿Ö¬ÖÖ¸üÛú •Öî®Ö ®Öê †Ö²ÖÓ™ü®Ö ¸üÖ×¿Ö ÛúÖ ³ÖãÝÖŸÖÖ®Ö ®ÖÆüà ×ÛúµÖÖ … †Ö²ÖÓ™ü®Ö Ûêú ŸÖã¸ü®ŸÖ ¯Ö¿“ÖÖŸÖË ˆÃÖÛêú †Ó¿ÖÖë ÛúÖ Æü¸üÞÖ
Ûú¸ü ×»ÖµÖÖ ÝÖµÖÖ … ˆÃÖÛêú ¯Ö¿“ÖÖŸÖË †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ ´ÖÖÑÝÖß ÝÖ‡Ô … ÝÖ㯟ÖÖ ×•ÖÃÖ®Öê 1200 †Ó¿ÖÖë Ûêú ×»Ö‹ †Ö¾Öê¤ü®Ö ×ÛúµÖÖ
£ÖÖ, †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ ÛúÖ ³ÖãÝÖŸÖÖ®Ö Ûú¸ü®Öê ´Öë †ÃÖ±ú»Ö ¸üÆüÖ … ˆÃÖÛêú †Ó¿ÖÖë ÛúÖ ³Öß Æü¸üÞÖ Ûú¸ü ×»ÖµÖÖ ÝÖµÖÖ … Æü¸üÞÖ ×ÛúµÖê
ÝÖµÖê †Ó¿ÖÖë ´Öë ÃÖê 1000 †Ó¿ÖÖë ÛúÖê ` 8 ¯ÖÏ×ŸÖ †Ó¿Ö ¯ÖæÞÖÔ ¯ÖϤü¢Ö ¯Öã®Ö: ×®ÖÝÖÔ×´ÖŸÖ Ûú¸ü פüµÖÖ ÝÖµÖÖ … ¯Öã®Ö: ×®ÖÝÖÔ×´ÖŸÖ ×ÛúµÖê Æãü‹
†Ó¿ÖÖë ´Öë •Öî®Ö Ûêú Æü¸üÞÖ ×ÛúµÖê ÝÖµÖê ÃÖ³Öß †Ó¿Ö ÃÖ×´´Ö×»ÖŸÖ £Öê …
ˆ¯Ö¸üÖêŒŸÖ »Öê®Ö¤êü®ÖÖë Ûêú ×»Ö‹ Ûêú.‹ÃÖ. ×»Ö×´Ö™êü›ü Ûúß ¯ÖãßÖÛúÖë ´Öë †Ö¾Ö¿µÖÛú ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ Ûúßו֋ …

67/1/1 8
 †£Ö¾ÖÖ
•Öß.•Öß. ×»Ö×´Ö™êü›ü ®Öê ` 10 ¯ÖÏŸµÖêÛú Ûêú 50,000 ÃÖ´ÖŸÖÖ †Ó¿ÖÖë ÛúÖê ` 2 ¯ÖÏ×ŸÖ †Ó¿Ö Ûêú †×¬Ö»ÖÖ³Ö ¯Ö¸ü ×®ÖÝÖÔ×´ÖŸÖ ×ÛúµÖÖ
•ÖÖê †Ö¾Öê¤ü®Ö ¸üÖ×¿Ö Ûêú ÃÖÖ£Ö ¤êüµÖ £ÖÖ … ×®ÖÝÖÔ´Ö®Ö ÃÖê ÃÖ´²Ö×®¬ÖŸÖ †‘Öæ¸üß ¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ ¯ÖÏ×¾Ö×™üµÖÖÑ ®Öß“Öê ¤üß ÝÖ‡Ô Æîü … †Ö¯Ö,
‡®Ö ÜÖÖ»Öß Ã£ÖÖ®ÖÖë ÛúÖê ³Ö׸üµÖê …
•Öß.•Öß. ×»Ö×´Ö™êü›ü
¸üÖê•ÖÌ®ÖÖ´Ö“ÖÖ
²Ö. ®ÖÖ´Ö •Ö´ÖÖ
ןÖ×£Ö ×¾Ö¾Ö¸üÞÖ ¯Öé. ¸üÖ×¿Ö ¸üÖ׿Ö
ÃÖÓ. (``) `)
(`
2015,
•Ö®Ö. 10 …….. ®ÖÖ´Ö ……..
…………….. ……..
(70,000 †Ó¿ÖÖë Ûêú ×»Ö. ` 5 ¯ÖÏ×ŸÖ †Ó¿Ö ¯ÖÏß×´ÖµÖ´Ö ÃÖ×ÆüŸÖ
†Ö¾Öê¤ü®Ö ¸üÖ×¿Ö ¯ÖÏÖ¯ŸÖ Æãü‡Ô)
″ 16 ÃÖ´ÖŸÖÖ †Ó¿Ö †Ö¾Öê¤ü®Ö ÜÖÖŸÖÖ ®ÖÖ´Ö ……..
……..……..……..…….. ……..
……..……..……..…….. ……..
……..……..……..…….. ……..
……..……..……..…….. ……..
(†Ö¾Öê¤ü®Ö ¸üÖ×¿Ö ÛúÖ †Ó¿Ö ¯ÖæÑ•Öß, ¯ÖÏןֳÖæ×ŸÖ ¯ÖÏß×´ÖµÖ´Ö ÜÖÖŸÖÖë ´Öë
ãÖÖ®ÖÖÓŸÖ¸üÞÖ, 8000 †Ó¿ÖÖë Ûêú ×»Ö‹ ¸ü§ü Ûúß †Ö¾Öê¤ü®Ö ¸üÖ×¿Ö Ûúß
¾ÖÖ¯ÖÃÖß ŸÖ£ÖÖ ¿ÖêÂÖ ÛúÖ ÃÖ´ÖÖµÖÖê•Ö®Ö †Ö²ÖÓ™ü®Ö ¯Ö¸ü ¤êüµÖ ¸üÖ×¿Ö ´Öë
ŒµÖÖë×Ûú †Ó¿ÖÖë ÛúÖ †Ö²ÖÓ™ü®Ö †®Öã¯ÖÖןÖÛú †Ö¬ÖÖ¸ü ¯Ö¸ü ×ÛúµÖÖ
ÝÖµÖÖ …)
″ 31 ……..…….. ®ÖÖ´Ö ……..
……..…….. ……..
(` 4 ¯ÖÏ×ŸÖ †Ó¿Ö Ûúß ¤ü¸ü ÃÖê ¤êüµÖ †Ö²ÖÓ™ü®Ö ¸üÖ׿Ö)
±ú¸ü¾Ö¸üß 20 ……..…….. ®ÖÖ´Ö ……..
……..…….. ……..
(†Ö²ÖÓ™ü®Ö ¯Ö¸ü ¤êüµÖ ¿ÖêÂÖ ¸üÖ×¿Ö ¯ÖÏÖ¯ŸÖ Ûúß)
†¯ÖÏî»Ö 01 ……..…….. ®ÖÖ´Ö ……..
……..…….. ……..
(¯ÖÏ£Ö´Ö ŸÖ£ÖÖ †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ ¯Ö¸ü ¤êüµÖ ¸üÖ׿Ö)
67/1/1 9 [P.T.O.
 ″ 20 ……..…….. ®ÖÖ´Ö ……..
†¤ü¢Ö µÖÖ“Ö®ÖÖ ¸üÖ×¿Ö ÜÖÖŸÖÖ ®ÖÖ´Ö 1,500
……..…….. ……..
(¯ÖÏ£Ö´Ö ŸÖ£ÖÖ †×®ŸÖ´Ö µÖÖ“Ö®ÖÖ ¯Ö¸ü ¯ÖÏÖ¯ŸÖ ¸üÖ׿Ö)
†ÝÖÃŸÖ 27 ……..…….. ®ÖÖ´Ö ……..
……..…….. ……..
……..…….. ……..
(ˆ®Ö
†Ó¿ÖÖë ÛúÖ Æü¸üÞÖ ×•Ö®Ö ¯Ö¸ü µÖÖ“Ö®ÖÖ ¸üÖ×¿Ö ¯ÖÏÖ¯ŸÖ ®ÖÆüà Æãü‡Ô)
†Œ™æü²Ö¸ü 3 ……..…….. ®ÖÖ´Ö ……..
……..…….. ®ÖÖ´Ö ……..
……..…….. ……..
(Æü¸üÞÖ ×ÛúµÖê ÝÖµÖê †Ó¿ÖÖë ÛúÖ `8 ¯ÖÏ×ŸÖ †Ó¿Ö ¯ÖæÞÖÔ ¯ÖϤü¢Ö ¯Öã®Ö:
×®ÖÝÖÔ´Ö®Ö)

…….. ……..…….. ®ÖÖ´Ö ……..

……..…….. ……..
(……..……..……..……..……..)
8
KS Ltd. invited applications for issuing 1,60,000 equity shares of ` 10 each at a
premium of ` 6 per share. The amount was payable as follows :
On Application ` 4 per share (including premium ` 1 per share)
On Allotment ` 6 per share (including premium ` 3 per share)
One First and Final Call – Balance.
Applications for 3,20,000 shares were received. Applications for 80,000 share
were rejected and application money refunded. Shares were allotted on pro-rata basis to
the remaining applicants. Excess money received with applications was adjusted
towards sums due on allotment. Jain holding 800 shares failed to pay the allotment
money. His shares were forfeited immediately after allotment. Afterwards the final call
was made. Gupta who had applied for 1200 shares failed to pay the final call. This
shares were also forfeited. Out of the forfeited shares 1000 shares were re-issued at ` 8
per share fully paid up. The re-issued shares included all the forfeited shares of Jain.
Pass necessary journal entries for the above transactions in the books of KS Ltd.
OR

67/1/1 10
 GG Ltd. had issued 50,000 equity shares of ` 10 each at a premium of ` 2 per share
payable with application money. The incomplete journal entries related to the issue are
given below. You are required to complete these blanks.
Books of GG Ltd.
JOURNAL
Debit Credit
L.
Date Particulars Amount Amount
F.
`)
(` `)
(`
2015,
Jan. 10 …….. Dr. ……..
To …………. ……..
(Amount received on application for 70,000
shares @ ` 5 per share including premium)
″ 16 Equity Share Application A/c Dr. ……..
To ……..……..……..…….. ……..
To ……..……..……..…….. ……..
To ……..……..……..…….. ……..
To ……..……..……..…….. ……..
(Transfer of application money to share capital,
securities premium, money refunded for 8000
shares for rejected applications and balance
adjusted towards amount due on allotment as
shares were allotted on Pro-rata basis.
″ 31 ……..…….. Dr. ……..
To ……..…….. ……..
(Amount due on allotment @ ` 4 per share)
Feb. 20 ……..…….. Dr. ……..
To ……..…….. ……..
(Balance amount received on allotment)
April 01 ……..…….. Dr. ……..
To ……..…….. ……..
(First and final call money due)
″ 20 ……..…….. Dr. ……..
Calls-in-arrears A/c. Dr. 1,500
To ……..…….. ……..
(Money received on first and final call)
67/1/1 11 [P.T.O.
 Aug. 27 ……..…….. Dr. ……..
To ……..…….. ……..
To ……..…….. ……..
(Forfeited the shares on which call money was
not received)
Oct. 3 ……..…….. Dr. ……..
……..…….. Dr. ……..
To ……..…….. ……..
(Re-issued the forfeited shares @ 8 per share
fully paid up)

…….. ……..…….. Dr. ……..

To ……..…….. ……..
(……..……..……..……..……..)

17. Ûú, ÜÖ ŸÖ£ÖÖ ÝÖ ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 3 : 2 : 1 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 31-3-2015 ÛúÖê ˆ®ÖÛúÖ
×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ×®Ö´®Ö ¯ÖÏÛúÖ¸ü ÃÖê £ÖÖ :
31-3-2015 ÛúÖê Ûú, ÜÖ ŸÖ£ÖÖ ÝÖ ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ
¸üÖ×¿Ö ¸üÖ׿Ö
¤êüµÖŸÖÖ‹Ñ ÃÖ´¯Ö×¢ÖµÖÖÑ
`)
(` `)
(`
»Öê®Ö¤üÖ¸ü 84,000 ²ÖïÛú 17,000
ÃÖÖ´ÖÖ®µÖ ÃÖÓ“ÖµÖ 21,000 ¤êü®Ö¤üÖ¸ü 23,000
¯ÖæÑ•Öß : ÙüÖòÛú 1,10,000
Ûú 60,000 ×®Ö¾Öê¿Ö 30,000
ÜÖ 40,000 ±ú®Öá“Ö¸ü ŸÖ£ÖÖ ×±úØ™üÝÃÖ 10,000
ÝÖ 20,000 1,20,000 ´Ö¿Öָ߮üß 35,000
2,25,000 2,25,000
ˆ¯Ö¸üÖêŒŸÖ ×ŸÖ×£Ö ÛúÖê ‘Ö ÛúÖê ‹Ûú ®ÖµÖÖ ÃÖÖ—Öê¤üÖ¸ü ²Ö®ÖÖµÖÖ ÝÖµÖÖ ŸÖ£ÖÖ µÖÆü ×®ÖÞÖÔµÖ ×»ÖµÖÖ ÝÖµÖÖ ×Ûú
(i) Ûú, ÜÖ, ÝÖ ŸÖ£ÖÖ ‘Ö ÛúÖ ®ÖµÖÖ »ÖÖ³Ö †®Öã¯ÖÖŸÖ 2 : 2 : 1 : 1 ÆüÖêÝÖÖ …
(ii) ±ú´ÖÔ Ûúß ÜµÖÖ×ŸÖ ÛúÖ ´Ö滵ÖÖÓÛú®Ö ` 90,000 ×ÛúµÖÖ ÝÖµÖÖ ŸÖ£ÖÖ ‘Ö †¯Ö®Öê ³ÖÖÝÖ ÛúÖ ÜµÖÖ×ŸÖ ¯ÖÏß×´ÖµÖ´Ö ®ÖÝÖ¤ü »ÖÖµÖÖ …
(iii) ×®Ö¾Öê¿ÖÖë ÛúÖ ²ÖÖ•ÖÌÖ¸ü ´Öæ»µÖ ` 24,000 £ÖÖ …
(iv) ´Ö¿Öָ߮üß ÛúÖê ` 29,000 ŸÖÛú Ûú´Ö ×ÛúµÖÖ •ÖÖµÖêÝÖÖ …
(v) ` 3,000 ÛúÖ ‹Ûú »Öê®Ö¤üÖ¸ü †¯Ö®ÖÖ ¤üÖ¾ÖÖ ¯Öê¿Ö ®ÖÆüà Ûú¸êüÝÖÖ †ŸÖ: ‡ÃÖê †¯Ö×»Ö×ÜÖŸÖ ×ÛúµÖÖ •ÖÖµÖêÝÖÖ …
(vi) ‘Ö ±ú´ÖÔ ´Öë »ÖÖ³Ö Ûêú 1/6 ³ÖÖÝÖ Ûêú ×»Ö‹ †®Öã¯ÖÖןÖÛú ¯ÖæÑ•Öß »ÖÖµÖêÝÖÖ …
¯Öã®Ö´ÖæÔ»µÖÖÓÛú®Ö ÜÖÖŸÖÖ, ÃÖÖ—Öê¤üÖ¸üÖë Ûêú ¯ÖæÑ•Öß ÜÖÖŸÖê ŸÖ£ÖÖ ¯Öã®ÖÝÖÔךüŸÖ ±ú´ÖÔ ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûúßו֋ …
67/1/1 12
 †£Ö¾ÖÖ
‹ŒÃÖ., ¾ÖÖ‡Ô ŸÖ£ÖÖ •ÖÌî›üÌ ‹Ûú ±ú´ÖÔ Ûêú ÃÖÖ—Öê¤üÖ¸ü £Öê ŸÖ£ÖÖ 5 : 3 : 2 Ûêú †®Öã¯ÖÖŸÖ ´Öë »ÖÖ³Ö ²ÖÖÑ™üŸÖê £Öê … 31-3-2015 ÛúÖê
ˆ®ÖÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ×®Ö´®Ö ¯ÖÏÛúÖ¸ü ÃÖê £ÖÖ :
31-3-2015 ÛúÖê ‹ŒÃÖ., ¾ÖÖ‡Ô. ŸÖ£ÖÖ •Öî›üÌ ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ
¸üÖ×¿Ö ¸üÖ׿Ö
¤êüµÖŸÖÖ‹Ñ ÃÖ´¯Ö×¢ÖµÖÖÑ
`)
(` `)
(`
»Öê®Ö¤üÖ¸ü 21,000 ³Öæ×´Ö ŸÖ£ÖÖ ³Ö¾Ö®Ö 62,000

×®Ö¾Öê¿Ö ˆŸÖÖ¸ü-“ÖœÌüÖ¾Ö ÛúÖêÂÖ 10,000 ´ÖÖê™ü¸ü ¾Öî®Ö 20,000

»ÖÖ³Ö-ÆüÖ×®Ö ÜÖÖŸÖÖ 40,000 ×®Ö¾Öê¿Ö 19,000

¯ÖæÑ•Öß : ´Ö¿Öָ߮üß 12,000

‹ŒÃÖ. 50,000 ÙüÖòÛú 15,000

¾ÖÖ‡Ô. 40,000 ¤êü®Ö¤üÖ¸ü 40,000

•Öî›üÌ 20,000 1,10,000 ‘Ö™üÖµÖÖ : ¯ÖÏÖ¾Ö¬ÖÖ®Ö 3,000 37,000

¸üÖêÛú›Ìü 16,000

1,81,000 1,81,000

ˆ¯Ö¸üÖêŒŸÖ ×ŸÖ×£Ö ÛúÖê ¾ÖÖ‡Ô. ®Öê †¾ÖÛúÖ¿Ö ÝÖÏÆüÞÖ Ûú¸ü ×»ÖµÖÖ ŸÖ£ÖÖ ‹ŒÃÖ. ‹¾ÖÓ •Öî›üÌ. ®Öê ×®Ö´®Ö ¿ÖŸÖÖí ¯Ö¸ü ¾µÖ¾ÖÃÖÖµÖ
ÛúÖê “ÖÖ»Öæ ¸üÜÖ®Öê ÛúÖ ×®ÖÞÖÔµÖ ×»ÖµÖÖ :

(1) ±ú´ÖÔ Ûúß ÜµÖÖ×ŸÖ ÛúÖ ´Ö滵ÖÖÓÛú®Ö ` 51,000 ×ÛúµÖÖ ÝÖµÖÖ …

(2) Ûú´ÖÔ“ÖÖ¸üß õÖן֯ÖæÙŸÖ ÛúÖ ` 4,000 ÛúÖ ‹Ûú ¤üÖ¾ÖÖ £ÖÖ …

(3) ›æü²ÖŸÖ ŠúÞÖÖë Ûêú ×»Ö‹ ¯ÖÏÖ¾Ö¬ÖÖ®Ö ÛúÖê ` 1,000 ÃÖê Ûú´Ö Ûú¸ü®ÖÖ £ÖÖ …

(4) ¾ÖÖ‡Ô. ÛúÖê ` 8,200 ÛúÖ ®ÖÝÖ¤ü ³ÖãÝÖŸÖÖ®Ö ×ÛúµÖÖ •ÖÖµÖêÝÖÖ ŸÖ£ÖÖ ¿ÖêÂÖ ÛúÖ Ã£ÖÖ®ÖÖ®ŸÖ¸üÞÖ ˆÃÖÛêú ŠúÞÖ ÜÖÖŸÖê ´Öë Ûú¸ü
פüµÖÖ •ÖÖµÖêÝÖÖ, וÖÃÖÛúÖ ³ÖãÝÖŸÖÖ®Ö “ÖÖ¸ü ²Ö¸üÖ²Ö¸ü ¾ÖÖÙÂÖÛú ×Ûú¿ŸÖÖë ´Öë 10% ¯ÖÏ×ŸÖ ¾ÖÂÖÔ ²µÖÖ•Ö Ûêú ÃÖÖ£Ö ×ÛúµÖÖ
•ÖÖµÖêÝÖÖ …

(5) ‹ŒÃÖ. ŸÖ£ÖÖ •ÖÌî›üÌ Ûêú ´Ö¬µÖ ®ÖµÖÖ »ÖÖ³Ö †®Öã¯ÖÖŸÖ 3 : 2 ÆüÖêÝÖÖ ŸÖ£ÖÖ ˆ®ÖÛúß ¯ÖæÑ•Öß ®ÖµÖê »ÖÖ³Ö †®Öã¯ÖÖŸÖ ´Öë ÆüÖêÝÖß …
¯ÖæÑ•Öß ÃÖ´ÖÖµÖÖê•Ö®Ö “ÖÖ»Öæ ÜÖÖŸÖê ÜÖÖê»ÖÛú¸ü ×ÛúµÖÖ •ÖÖµÖêÝÖÖ …

¯Öã®Ö´ÖæÔ»µÖÖÓÛú®Ö ÜÖÖŸÖÖ, ÃÖÖ—Öê¤üÖ¸üÖë Ûêú ¯ÖæÑ•Öß ÜÖÖŸÖê ŸÖ£ÖÖ ¯Öã®ÖÝÖÔךüŸÖ ±ú´ÖÔ ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûúßו֋ … 8
67/1/1 13 [P.T.O.
 A, B and C were partners in a firm sharing profits in the ratio of 3:2:1. On 31-3-2015
their Balance Sheet was as follows :
Balance Sheet of A, B and C as on 31-3-2015
Amount Amount
Liabilities Assets
(`) (`)
Creditors 84,000 Bank 17,000
General Reserve 21,000 Debtors 23,000
Capitals : Stock 1,10,000
A 60,000 Investments 30,000
B 40,000 Furniture & Fittings 10,000
C 20,000 1,20,000 Machinery 35,000
2,25,000 2,25,000
On the above date D was admitted as a new partner and it was decided that :
(i) The new profit sharing ratio between A, B, C and D will be 2:2:1:1.
(ii) Goodwill of the firm was valued at ` 90,000 and D brought his share of goodwill
premium in cash.
(iii) The market value of investments was ` 24,000.
(iv) Machinery will be reduced to ` 29,000.
(v) A creditor of ` 3,000 was not likely to claim the amount and hence to be written-
off.
(vi) D will bring proportionate capital so as to give him 1/6th share in the profits of
the firm.
Prepare Revaluation Account, Partner’s Capital Accounts and the Balance Sheet
of the reconstituted firm.
OR
X, Y and Z were partners in a firm sharing profit’s in the ratio of 5:3:2. On 31-3-2015
their Balance Sheet was as follows :
Balance Sheet of X, Y and Z as on 31st March, 2015
Amount Amount
Liabilities Assets
(`) (`)
Creditors 21,000 Land and Building 62,000
Investment Motor Vans 20,000
Fluctuation Fund 10,000 Investments 19,000
P & L Account 40,000 Machinery 12,000
Capitals : Stock 15,000
X 50,000 Debtors 40,000
Y 40,000 Less : Provision 3,000 37,000
Z 20,000 1,10,000 Cash 16,000
1,81,000 1,81,000

67/1/1 14
 On the above date Y retired and X and Z agreed to continue the business on the
following terms :
(1) Goodwill of the firm was valued at ` 51,000.
(2) There was a claim of ` 4,000 for Workmen’s Compensation.
(3) Provision for bad debts was to be reduced by ` 1,000.
(4) Y will be paid ` 8,200 in cash and the balance will be transferred in his loan
account which will be paid in four equal yearly instalments together with interest
@ 10% p.a.
(5) The new profit sharing ratio between X and Z will be 3:2 and their capitals will
be in their new profit sharing ratio. The capital adjustments will be done by
opening current accounts.
Prepare Revaluation Account, Partners’ Capital Accounts and the Balance
Sheet of the reconstituted firm.

67/1/1 15 [P.T.O.
 ÜÖÞ›ü – ÜÖ
PART – B
×¾ÖÛú»¯Ö – I
Option – I
(×¾Ö¢ÖßµÖ ×¾Ö¾Ö¸üÞÖÖë ÛúÖ ×¾Ö¿»ÖêÂÖÞÖ)
(Analysis of Financial Statements)

18. ‘‹Ûú ˆª´Ö ¯ÖÏןֳÖæןֵÖÖë ŸÖ£ÖÖ ŠúÞÖÖë ÛúÖ ¬ÖÖ¸üÞÖ »Öê®Ö¤êü®Ö µÖÖ ¾µÖÖ¯ÖÖ¸ü Ûêú ˆ§êü¿µÖ ÃÖê Ûú¸ü ÃÖÛúŸÖÖ Æîü ‹êÃÖß ×ãÖ×ŸÖ ´Öë µÖê
¯Öã®Ö:×¾ÖÛÎúµÖ Ûêú ×»Ö‹ †×¬ÖÝÖÏÆüÞÖ ×ÛúµÖê ÝÖµÖê ´ÖÖ»Ö Ûêú ÃÖ´ÖÖ®Ö ÆüÖêŸÖê Æïü …’ ŒµÖÖ µÖÆü Ûú£Ö®Ö ÃÖÆüß Æîü ? ¸üÖêÛú›Ìü ¯ÖϾÖÖÆü ×¾Ö¾Ö¸üÞÖ
ŸÖîµÖÖ¸ü Ûú¸üŸÖê ÃÖ´ÖµÖ ‡ÃÖ ¯ÖÏÛúÖ¸ü Ûúß ÝÖןÖ×¾Ö׬ֵÖÖë ÃÖê Æãü†Ö ¸üÖêÛú›Ìü ¯ÖϾÖÖÆü ×ÛúÃÖ ¯ÖÏÛúÖ¸ü Ûúß ÝÖןÖ×¾Ö×¬Ö Ûêú †®ŸÖÝÖÔŸÖ
¾ÖÝÖáÛéúŸÖ ×ÛúµÖÖ •ÖÖ‹ÝÖÖ ? 1

‘An enterprise may hold securities and loans for dealing or trading purposes in which
case they are similar to inventory acquired specifically for resale.’ Is the statement
correct ? Cash flows from such activities will be classified under which type of
activity while preparing Cash Flow Statement ?

19. ¸üÖêÛú›Ìü ¯ÖϾÖÖÆü ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûú¸ü®Öê Ûêú ˆ§êü¿µÖ ÃÖê ‘¸üÖêÛú›Ìü ŸÖ㻵֒ ÛúÖ †£ÖÔ ¤üßו֋ … 1

Give the meaning of ‘Cash Equivalents’ for the purpose of preparing Cash Flow
Statement.

20. (Ûú) ‘‹Ûú ˆª´Ö Ûúß ×¾Ö¢ÖßµÖ ×ãÖ×ŸÖ ´Öë ¯Ö׸ü¾ÖŸÖÔ®Ö Ûúß ¯ÖÆü“ÖÖ®Ö Ûú¸ü®ÖÖ ×¾Ö¢ÖßµÖ ×¾Ö¾Ö¸üÞÖÖë Ûêú ×¾Ö¿»ÖêÂÖÞÖ ÛúÖ ‹Ûú
ˆ§êü¿µÖ Æîü …’ ‡ÃÖ ×¾Ö¿»ÖêÂÖÞÖ Ûêú ×Ûú®Æüà ¤üÖê †Öî¸ü ˆ§êü¿µÖÖë ÛúÖ ˆ»»ÖêÜÖ Ûúßו֋ …
(ÜÖ) ‹êÃÖß ×Ûú®Æüà ¤üÖ-ê ¤üÖê ´Ö¤üÖë Ûêú ®ÖÖ´Ö ²ÖŸÖÖ‡‹ ו֮Æëü Ûú´¯Ö®Öß †×¬Ö×®ÖµÖ´Ö 2013 Ûúß ÃÖæ“Öß III Ûêú †®ÖãÃÖÖ¸ü ×ÛúÃÖß
Ûú´¯Ö®Öß Ûêú ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ´Öë ‘†®µÖ “ÖÖ»Öæ ¤êüµÖŸÖÖ†Öë’ ŸÖ£ÖÖ ‘†®µÖ “ÖÖ»Öæ ÃÖ´¯Ö×¢ÖµÖÖë’ Ûêú †®ŸÖÝÖÔŸÖ ¤ü¿ÖÖÔµÖÖ
•ÖÖŸÖÖ Æîü … 2+2=4

(a) One of the objectives of ‘Financial Statements Analysis’ is to identify the

reasons for change in the financial position of the enterprise. State two more
objectives of this analysis.
(b) Name any two items that are shown under the head ‘Other Current Liabilities’
and any two items that are shown under the head ‘Other Current Assets’ in the
Balance Sheet of a company as per Schedule III of the Companies Act, 2013.
67/1/1 16
21. (Ûú) ¾µÖ¾ÖÃÖÖµÖ Ûúß ¿ÖÖê¬Ö®Ö-õÖ´ÖŸÖÖ ÛúÖ ŒµÖÖ †£ÖÔ Æîü ?
(ÜÖ) •Öß¾Ö ×»Ö×´Ö™êü›ü Ûêú ×¾Ö¢ÖßµÖ ×¾Ö¾Ö¸üÞÖÖë ÃÖê ¯ÖÏÖ¯ŸÖ ×®Ö´®Ö ÃÖæ“Ö®ÖÖ ÃÖê ²µÖÖ•Ö †Ö¾Ö¸üÞÖ †®Öã¯ÖÖŸÖ Ûúß ÝÖÞÖ®ÖÖ Ûúßו֋ :
Ûú¸ü ¯Ö¿“ÖÖŸÖË ¿Öã¨ü »ÖÖ³Ö ` 1,20,000;
12% ¤üß‘ÖÔÛúÖ»Öß®Ö ŠúÞÖ ` 20,00,000;
Ûú¸ü ¤ü¸ü 40%. 2+2=4

(a) What is meant by solvency of business ?

(b) From the following details obtained from the financial statements of Jeev Ltd.,
calculate interest coverage ratio :
Net Profit after tax ` 1,20,000,
12% Long-term Debt ` 20,00,000,
Tax Rate 40%.

22. 31 ´ÖÖ“ÖÔ, 2015 ÛúÖê ÃÖ´ÖÖ¯ŸÖ Æãü‹ ¾ÖÂÖÔ Ûêú ×»Ö‹ ÃÖ®ÖË ‡×Þ›üµÖÖ ×»Ö×´Ö™êü›ü ÛúÖ »ÖÖ³Ö-ÆüÖ×®Ö ×¾Ö¾Ö¸üÞÖ ×®Ö´®Ö ¯ÖÏÛúÖ¸ü Æîü :
®ÖÖê™ü 31-3-2015 31-3-2014
×¾Ö¾Ö¸üÞÖ
ÃÖÓ. `)
(` (``)
ÛúÖµÖÔÛú»ÖÖ¯ÖÖë ÃÖê †ÖÝÖ´Ö 25,00,000 20,00,000
†®µÖ †ÖÝÖ´Ö 1,00,000 5,00,000
Ûú´ÖÔ“ÖÖ¸üß ×ÆüŸÖ»ÖÖ³Ö ¾µÖµÖ Ûãú»Ö †ÖÝÖ´Ö ÛúÖ 60% Ûãú»Ö †ÖÝÖ´Ö ÛúÖ 50%
†®µÖ ¾µÖµÖ Ûú´ÖÔ“ÖÖ¸üß ×ÆüŸÖ»ÖÖ³Ö ¾µÖµÖ ÛúÖ 10% Ûú´ÖÔ“ÖÖ¸üß ×ÆüŸÖ»ÖÖ³Ö ¾µÖµÖ ÛúÖ 20%
Ûú¸ü ¤ü¸ü 50% 40%
ÃÖ®ÖË ‡×Þ›üµÖÖ ×»Ö×´Ö™êü›ü ÛúÖ †Ö¤ü¿ÖÔ-¾ÖÖŒµÖ, ÝÖÏß®Ö ‹®Ö•Öá ÛúÖ ˆŸ¯ÖÖ¤ü®Ö Ûú¸üÛúê ‡ÃÖÛúÖ ×¾ÖŸÖ¸üÞÖ ³ÖÖ¸üŸÖ Ûêú ÝÖÏÖ´ÖßÞÖ
õÖê¡ÖÖë ´Öë Ûú¸ü®ÖÖ Æîü … ‡ÃÖ®Öê ¯ÖÖÑ“Ö ÝÖÖѾÖÖë ÃÖê ÆüÖêŸÖê Æãü‹ ¯ÖÖÃÖ Ûêú ¿ÖÆü¸ü ÛúÖê •ÖÖê›üÌ®Öê ¾ÖÖ»Öß ‹Ûú ÃÖ›ÌüÛú Ûêú ×®Ö´ÖÖÔÞÖ Ûúß µÖÖê•Ö®ÖÖ
³Öß ²Ö®ÖÖ‡Ô Æîü … ÃÖ›ÌüÛú Ûêú ×®Ö´ÖÖÔÞÖ ´Öë µÖÆü ãÖÖ®ÖßµÖ ÄÖÖêŸÖÖë ÛúÖ ˆ¯ÖµÖÖêÝÖ Ûú¸êüÝÖß ŸÖ£ÖÖ Ã£ÖÖ®ÖßµÖ »ÖÖêÝÖÖë ÛúÖê ¸üÖê•ÖÝÖÖ¸ü ¤êüÝÖß …
פü‹ ÝÖ‹ »ÖÖ³Ö-ÆüÖ×®Ö ×¾Ö¾Ö¸üÞÖ ÃÖê ŸÖã»Ö®ÖÖŸ´ÖÛú »ÖÖ³Ö-ÆüÖ×®Ö ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûúßו֋ ŸÖ£ÖÖ ‹êÃÖê ×Ûú®Æüà ¤üÖê ´Ö滵ÖÖë Ûúß
¯ÖÆü“ÖÖ®Ö ³Öß Ûúßו֋ ו֮Æëü Ûú´¯Ö®Öß ÃÖ´ÖÖ•Ö ÛúÖê ¯ÖÏê×ÂÖŸÖ Ûú¸ü®ÖÖ “ÖÖÆüŸÖß Æîü … 4
Following is the statement of Profit and Loss of Sun India Ltd. for the year ended 31st
March, 2015 :
Note 31-3-2015 31-3-2014
Particulars
No. (`) (`)
Revenue from operations 25,00,000 20,00,000
Other Income 1,00,000 5,00,000
Employee benefit-expenses 60% of total Revenue 50% of total Revenue
Other expenses 10% of employee 20% of employee
benefit expenses benefit expenses
Tax Rate 50% 40%
67/1/1 17 [P.T.O.
 The motto of Sun India Ltd. is to produce and supply green energy in the rural
areas of India. It has also taken up a project of constructing a road that will pass
through five villages, so that these villages could be connected to the nearby town.
It will use the local resources and employ local people for construction of the road.
You are required to prepare a Comparative Statement of Profit and Loss of Sun
India Ltd. from the given statement of Profit and Loss. Also identify any two values
that the company wishes to convey to the society.

23. 31-3-2015 ÛúÖê Ûêú.Ûêú. ×»Ö×´Ö™êü›ü ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ ×®Ö´®Ö ¯ÖÏÛúÖ¸ü ÃÖê £ÖÖ :
Ûêú.Ûêú. ×»Ö×´Ö™êü›ü 31-3-2015 ÛúÖ ×ãÖ×ŸÖ ×¾Ö¾Ö¸üÞÖ
31-3-2015 31-3-2014
×¾Ö¾Ö¸üÞÖ ®ÖÖê™ü ÃÖÓ.
`)
(` `)
(`
I. ÃÖ´ÖŸÖÖ ŸÖ£ÖÖ ¤êüµÖŸÖÖ‹Ñ :
(1) †Ó¿Ö¬ÖÖ¸üß ×®Ö׬ֵÖÖÑ
(†) †Ó¿Ö ¯ÖæÑ•Öß 10,00,000 8,00,000
(²Ö) ÃÖÓ“ÖµÖ ‹¾ÖÓ †Ö׬֌µÖ 1 4,00,000 (1,00,000)
(2) †“Ö»Ö ¤êüµÖŸÖÖ‹Ñ
¤üß‘ÖÔÛúÖ»Öß®Ö ŠúÞÖ 2 9,00,000 10,00,000
(3) “ÖÖ»Öæ ¤êüµÖŸÖÖ‹Ñ
(†) »Ö‘ÖãÛúÖ»Öß®Ö ŠúÞÖ 3 3,00,000 1,00,000
(²Ö) »Ö‘ÖãÛúÖ»Öß®Ö ¯ÖÏÖ¾Ö¬ÖÖ®Ö 4 1,40,000 1,80,000
Ûãú»Ö : 27,40,000 19,80,000

II. ¯Ö׸üÃÖ´¯Ö×¢ÖµÖÖÑ :
(1) †“Ö»Ö ¯Ö׸üÃÖ´¯Ö×¢ÖµÖÖÑ
(†) ãÖÖµÖß ÃÖ´¯Ö×¢ÖµÖÖÑ
(i) ´ÖæŸÖÔ 5 20,06,000 14,40,000
(ii) †´ÖæŸÖÔ 6 40,000 60,000
(²Ö) †“Ö»Ö ×®Ö¾Öê¿Ö 2,00,000 1,50,000
(2) “ÖÖ»Öæ ¯Ö׸üÃÖ´¯Ö×¢ÖµÖÖÑ
(†) “ÖÖ»Öæ ×®Ö¾Öê¿Ö 7 1,00,000 1,20,000
(²Ö) ÙüÖòÛú (´ÖÖ»ÖÃÖæ“Öß) 2,14,000 90,000
(ÃÖ) ¸üÖêÛú›Ìü ŸÖ£ÖÖ ¸üÖêÛú›Ìü ŸÖã»µÖ 1,80,000 1,20,000
Ûãú»Ö : 27,40,000 19,80,000

67/1/1 18
 ÜÖÖŸÖÖë Ûêú ®ÖÖê™üËÃÖ :
®ÖÖê™ü 31-3-2015 31-3-2014
ÃÖÓ. ×¾Ö¾Ö¸üÞÖ
(`) (`)
1 ÃÖÓ“ÖµÖ ‹¾ÖÓ †Ö׬֌µÖ
†Ö׬֌µÖ (»ÖÖ³Ö-ÆüÖ×®Ö ×¾Ö¾Ö¸üÞÖ ÛúÖ ¿ÖêÂÖ) 4,00,000 (1,00,000)
4,00,000 (1,00,000)

2. ¤üß‘ÖÔÛúÖ»Öß®Ö ŠúÞÖ
12% ŠúÞÖ¯Ö¡Ö 9,00,000 10,00,000
9,00,000 10,00,000

3. »Ö‘ÖãÛúÖ»Öß®Ö ŠúÞÖ
²ÖïÛú †×¬Ö×¾ÖÛúÂÖÔ 3,00,000 1,00,000
3,00,000 1,00,000

4. »Ö‘ÖãÛúÖ»Öß®Ö ¯ÖÏÖ¾Ö¬ÖÖ®Ö
Ûú¸ü ¯ÖÏÖ¾Ö¬ÖÖ®Ö 1,40,000 1,80,000
1,40,000 1,80,000

5. ´ÖæŸÖÔ ¯Ö׸üÃÖ´¯Ö×¢ÖµÖÖÑ
´Ö¿Öָ߮üß 24,06,000 16,42,000
‹Ûú×¡ÖŸÖ ´Ö滵ÖÈüÖÃÖ (4,00,000) (2,02,000)
20,06,000 14,40,000

6. †´ÖæŸÖÔ ¯Ö׸üÃÖ´¯Ö×¢ÖµÖÖÑ
ܵÖÖ×ŸÖ 40,000 60,000
40,000 60,000
7. ÙüÖòÛú (´ÖÖ»ÖÃÖæ“Öß)
¾µÖÖ¯ÖÖ׸üÛú ÙüÖòÛú 2,14,000 90,000
2,14,000 90,000
†×ŸÖ׸üŒŸÖ ÃÖæ“Ö®ÖÖ :
(i) 12% ŠúÞÖ¯Ö¡ÖÖë ÛúÖ ¿ÖÖê¬Ö®Ö 31-3-2015 ÛúÖê ×ÛúµÖÖ ÝÖµÖÖ …
(ii) ¾ÖÂÖÔ ´Öë ` 1,40,000 Ûú¸ü ÛúÖ ³ÖãÝÖŸÖÖ®Ö ×ÛúµÖÖ ÝÖµÖÖ …
¸üÖêÛú›Ìü ¯ÖϾÖÖÆü ×¾Ö¾Ö¸üÞÖ ŸÖîµÖÖ¸ü Ûúßו֋ … 6
67/1/1 19 [P.T.O.
 Following is the Balance Sheet of K.K. Ltd. as at 31-3-2015 :
K.K. Ltd. Balance Sheet as at 31-3-2015

Note 31-3-2015 31-3-2014

Particulars
No. (`) (`)

I. Equity and Liabilities :

(1) Shareholders’ Funds :

(a) Share Capital 10,00,000 8,00,000

(b) Reserves and Surplus 1 4,00,000 (1,00,000)

(2) Non-current Liabilities :

Long-term borrowings 2 9,00,000 10,00,000

(3) Current Liabilities :

(a) Short-term borrowings 3 3,00,000 1,00,000

(b) Short-term provisions 4 1,40,000 1,80,000

Total : 27,40,000 19,80,000

II. Assets :

(1) Non-current Assets :

(a) Fixed Assets :

(i) Tangible 5 20,06,000 14,40,000

(ii) Intangible 6 40,000 60,000

(b) Non-current Investments 2,00,000 1,50,000

(2) Current Assets :

(a) Current Investments 1,00,000 1,20,000

(b) Inventories 7 2,14,000 90,000

(c) Cash and Cash Equivalents 1,80,000 1,20,000

Total : 27,40,000 19,80,000

67/1/1 20
 Notes to Accounts :
Note 31-3-2015 31-3-2014
Particulars
No. (`) (`)
1 Reserves and Surplus
(Surplus i.e. Balance in Statement of
4,00,000 (1,00,000)
Profit and Loss)
4,00,000 (1,00,000)

2. Long-term borrowings :
12% Debentures 9,00,000 10,00,000
9,00,000 10,00,000

3. Short-term borrowings :
Bank Overdraft 3,00,000 1,00,000
3,00,000 1,00,000

4. Short-term provisions :
Provision for tax 1,40,000 1,80,000
1,40,000 1,80,000

5. Tangible Assets :
Machinery 24,06,000 16,42,000
Accumulated Depreciations (4,00,000) (2,02,000)
20,06,000 14,40,000

6. Intangible Assets :
Goodwill 40,000 60,000
40,000 60,000
7. Inventories :
Stock in trade 2,14,000 90,000
2,14,000 90,000
Additional Information :
(i) 12% Debentures were redeemed on 31-3-2015.
(ii) Tax ` 1,40,000 was paid during the year.
Prepare Cash Flow Statement.
67/1/1 21 [P.T.O.
 ÜÖÞ›ü – ÜÖ
PART – B
×¾ÖÛú»¯Öü – II
Option – II
(†×³ÖÛú×»Ö¡Ö »ÖêÜÖÖÓÛú®Ö)
(Computerized Accounting)

18. ‘ÛãúÓ •Öß ±úß»›ËüÃÖ’ ÛúÖ ŒµÖÖ †£ÖÔ Æîü ? 1

What is meant by ‘Key Field’ ?

19. ÃÖÖ´ÖÖ®µÖÛú¸üÞÖ ÛúÖ ŒµÖÖ ˆ§êü¿µÖ Æîü ? 1

What is the purpose of normalization ?

20. »ÖÖ³Ö-ÆüÖ×®Ö Ûêú ×Ûú®Æüà “ÖÖ¸ü ˆ¯Ö-¾ÖÝÖÖí ÛúÖê ÃÖ´Ö—ÖÖ‡‹ … 4

Explain any four sub-groups of Profit and Loss.

21. †×³ÖÛú×»Ö¡Ö »ÖêÜÖÖÓÛú®Ö ´Öë »ÖêÜÖÖë ÛúÖ †Ö®ŸÖ׸üÛú •ÖÖê›üÌ-ŸÖÖê›üÌ ÆüßÖßµÖ »ÖêÜÖÖÓÛú®Ö ÃÖê ÛúÖ±úß †ÖÃÖÖ®Ö Æîü … ÛîúÃÖê ? 4

Internal manipulation of records is much easier in computerized accounting than in

manual accounting. How ?

22. †×³ÖÛú×»Ö¡Ö »ÖêÜÖÖÓÛú®Ö ¯ÖÏÞÖÖ»Öß Ûêú ×Ûú®Æüà “ÖÖ¸ü »ÖÖ³ÖÖë ÛúÖ ˆ»»ÖêÜÖ Ûúßו֋ … 4

State any four advantages of Computerized Accounting System.

67/1/1 22
23. ÃÖÓ•ÖµÖ ‹Ûú ÃÖã¯Ö¸ü¾ÖÖ‡•Ö̸ü Æîü … ´ÖÖÆü ´Öë ˆÃÖ®Öê 2 פü®ÖÖë ÛúÖ †¾ÖÛúÖ¿Ö ×»ÖµÖÖ … ˆÃÖÛúÖ ´Öæ»Ö ¾ÖêŸÖ®Ö ` 17,000 Æîü …
×®Ö´®Ö ÃÖæ“Ö®ÖÖ ÃÖê ‹ŒÃÖ»Ö ÛúÖ ˆ¯ÖµÖÖêÝÖ Ûú¸üÛúê ˆÃÖÛúÖ (Ûú) †Ù•ÖŸÖ ´Öæ»Ö ¾ÖêŸÖ®Ö, (ÜÖ) ´ÖÆÑüÝÖÖ‡Ô ³Ö¢ÖÖ; (ÝÖ) ÝÖéÆü ×Ûú¸üÖµÖÖ
³Ö¢ÖÖ ŸÖ£ÖÖ (‘Ö) ¯Ö׸ü¾ÖÆü®Ö ³Ö¢ÖÖ Ûúß ÝÖÞÖ®ÖÖ Ûú¸ü®Öê Ûêú ÃÖæ¡Ö ¤üßו֋ …
ÃÖæ“Ö®ÖÖ :
´ÖÖÆü ´Öë 30 ÛúÖµÖÔÛúÖ¸üß ×¤ü¾ÖÃÖ Æïü … ´ÖÆÑü ÝÖÖ‡Ô ³Ö¢ÖÖ ¤ü¸ü 35%, ÝÖéÆü ×Ûú¸üÖµÖÖ ³Ö¢ÖÖ ÃÖã¯Ö¸ü¾ÖÖ‡•Ö¸üß Ã™üÖ±ú Ûêú ×»Ö‹
´Öæ»Ö ¾ÖêŸÖ®Ö ÛúÖ 20%; ÝÖéÆü ×Ûú¸üÖµÖÖ ³Ö¢ÖÖ ÝÖî¸ü-ÃÖã¯Ö¸ü¾ÖÖ‡•Ö¸üß Ã™üÖ±ú Ûêú ×»Ö‹ ´Öæ»Ö ¾ÖêŸÖ®Ö ÛúÖ 15%; ÃÖã¯Ö¸ü¾ÖÖ‡•Ö¸üß
ÙüÖ±ú Ûêú ×»Ö‹ ¯Ö׸ü¾ÖÆü®Ö ³Ö¢ÖÖ ` 1,000 ´ÖÖ×ÃÖÛú Æîü ŸÖ£ÖÖ ÝÖî¸ü-ÃÖã¯Ö¸ü¾ÖÖ‡•Ö¸üß Ã™üÖ±ú ÛúÖ ¯Ö׸ü¾ÖÆü®Ö ³Ö¢ÖÖ ` 500
´ÖÖ×ÃÖÛú Æîü … 6

On the basis of the following information using Excel give the formulae to compute :
(a) Basic pay earned; (b) D.A.; (c) House Rent Allowance and (d) Transport
Allowance of Sanjay who is a supervisor. He took a leave for two days during the
month. His basic pay is ` 17,000.
Informations :
Number of working days in the month are 30. Rate of D.A. 35%, HRA rate for
supervisory staff is 20% of basic pay, HRA for non-supervisory staff 15% of basic
pay, Transport Allowance for supervisory staff ` 1,000 per month and Transport
Allowance for non-supervisory staff ` 500 per month.

67/1/1 23 [P.T.O.
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