MODEL QUESTION

SET -II Intermediate (XII)

Accountancy
(Class Xllth
Ti^e - 3 Hrs.
Full Marks - 80
lass Mark 26
ALL QUESTIONS ARE COMPULSORY 3)Pi<ll^
Candidates are required to give their answers in their own words as for as practh
able.
?ffl Y ^ ^^
Figures in the margin indicate full marks. vjhki ^> 3j^>

GENERAL INSTRUCTIONS :
(0 This question paper contains two parts A and B
W\\ ^T
(ii) All parts of question should be attempted at one place.
^ff W\ 3T TTcf ^ ^p^^ ^%i R^^ff ^ fe^ ^l^^cl^j 11
(iii) All Parts of question should be attempted at one place.

Part-A
1. t - (Income and expenditure Account is)

(i) ^TcTT (Personal Account) (ii) dl>^Rl0 ^^ (Real Account)

(Nominal Account) (iv) ^^l ^ ^^ ^\ (None of these)
2.

(In the absence of Partnership deed, interest on capital will be given to partn ^rs at)
0) 8 % cmra> (8 % p.a) (ii) 6 % (6 % p.a)
(iii) 9 % c^ ^^> (9 % p.a) (iv) (None of these)
3. ^r ^^^
(In which ratio, the cash brought in for goodwill by the new partner is shared existing
partners.)
(i) ^PT-fcpfF^T 3FJTO (Profit sharing ratio) (ii) ^jyft-
(Capital ratio)
(iii) RIFT cf> 3HTTcT ^f (Sacrificing ratio )(iv) ^f ^f
(None of the e)
4. X, Y ^ Z : 1/2, 1/3 c^ 1/ 6tY
t 3fk X 2:1 ^ feRTT ^T?TT 1
(X Y and Z are partners in a firm sharing, profit in the ratio of ^, 1/3 and l/( respectively,
Y retires and his share is divided between X and Z ip the ratio of 2:1. Find ut new profit
sharing ratio.)
(i) 9:11(ii) 2:1 ' (iii) 13:5(iv)12
5. ^^^f t - (Equity share holders are)

(i) (Customer)(ii) ctT^R (Creditors)

(Debtors)(iv)^?i (Owners)
6. ^uin^l ^ ^qivii ^ml 0 — ( Debenture carries interest is )
(i) 12 % cr^c^ (12% p.a) ;(ii) Pl^^m ^ (Fixed rate)
(iii) 6 % cn^^) (6 % p.a)(iv) 20 % c#cf) (20 % p.a)

1
 fcf^ff ^ erf 2015 ^ fc^ ^^ ^f 3TR erf WTT
(Compute the income from subscription for the year 2015 from the following particu ars)
Items 01.04.2016 31.04.20
Rs. Rs.
(Out standing subscriptions) , 19,300 18,000
3TBR (Advance subscription) 13,400 14,100
erf 2016-17 ^> ^^R ^M ^^ ^>0 31,400/- 11
(Subscription received during 2016-17 is Rs. 31,400.)
fcfo rf ^>0 30 rf^l 3m erf WT ZfRRT cf^T 03 ^fRR TR 100 rf 800 3
3mf cf)T ^R c^ fcRT I IpT 3mf ^R ^0 20 ^^3m erf ^^fcFT f^rf
i ^ ^^ 400 ^mf cjr 105 ^^ rfcr 3m erf
fefO erf ^^Tcrf ^ ^^\ rf^f ^rft ^ feH^
(Samta Ltd. forfeited 800 equity shares of Rs. 100 each for the non-payment of first all of
Rs. 30 per share. The final call of Rs. 20 per share was not yet made. Out thefo feited
shares 400 were reissued at the rate of Rs. 105 per share fully paid up.)
Pass necessary journal entries in the books of Samta Ltd. for the above tr sactior

9. fcTO ^ ^prf ^0 2,20,000/- cf5T cf> 50% c

erf ^^P^ii ftTeT erf ^ c^ fc^TT ^RT ?^T
100 ^^fc^ ^^ 9% c^T 10% ^T^^cTPT ^R Prf^d fcfRT
feT"^ "rfqc^) feTO erf rRrr^t
Deepak Ltd. purchased furniture Rs. 2,20,000 from Ranchi Furniture Ma . 50% of the
amount was paid to furniture Mart by accepting a bill of exchange and for t e balar e the
company issued 9% debentures of Rs. 100 each at a premium of 10% in fav )ur of
Furniture Mart.
Pass necessary Journal entries in the books of Deepak Ltd. for the above t ansacti ns.

10. 3m trf ^^^R Distinguish between share and Debenture.

11. t^cf> qrf ^f Rll^RR ^^ cRT 73 cj> ^T^qicT ^ eT
W^R ^ft ^RR ^0 9,00,000 cRT R^TT, 4,00,000/-
erfcfR vJM^c^ ^T RR ^^^ f^RT ^ erf ^ fe^ efPT ^ Iran
Kumar and Raja were Partner in the firm sharing profits in the ratio of 7 . Thei fixed
capitals were Kumar, Rs. 900000 and Raja Rs. 400000. The partnership dee provi< ed for
the following but the profit for the year was distributed without providing fo
(i) ^jyft ^ RR 9% ^^cT erf erf ^ ^ Interest on capital @ 9% per annum,
(ii) ^TR ^ cfcR ^)0 50,000 yf^fcrf cRF ^RT ^ ^cR ^ 3,000 ^^rT ^ (Kuma s salars Rs.
50,000 per year and Raja's Salary Rs. 3000 per month) 31.03.2017 erf erf i
278000 rfc|^ crfftfq | The profit for the year ended 31.03 12017
278000. Pass adjustment entry.
12. P, Q trf R T^ qrf ^ >^l^4K ^ c^T 2:2:1 e^^ 3FJTM efPT ^^ 31 5
erf ^rf cR^ft t f^f 3ffcR ^cff ^ eRl^^ ^ P cf)[
erf qrf erf ^rfcT cfTT ^J^ffcR ^0 90,000 fcfRT erf FR cTR
erf ^T^TcJJT 3M qrf c^ ^^rf ^R crff cf> eTR c^ 3TRR
^T eiR
 31.03.2018 erf ^PTM g^ erf rf frftT 2,00,000
31.03.2017 erf W^M glj erf rf fepr 1,80,000
31.03.2016erf T^M g<J erf rf 2,10,000
31.03.2015 erf TFTM g^ erf rf 1,70,000 (fjlft)
P erf ^ e^^ ^T ^Tfcj 3114^*
eTPT ^ P ^) ^^ rf efPT erf Wry
P, Q and R were Partners in a firm sharing profit in 2:2:1 ratio. The firm cl ses its ooks
on 31 March every year. P died three months after the last accounts were pre ared. C ithat
date the goodwill of the firm was valued at Rs. 90,000. On the death of a pa ner his share
of profit in the year of death was to be calculated on the basis of average prqpts oft e last
four years. The Profits of last four years were :
Rs.
Year ended 31.03.2018200000
Year ended 31.03.2017180000
Year ended 31.03.2016210000
Year ended 31.03.2015170000 (Loss)
Pass necessary journal entries for the treatment of goodwill and P's sha
pn fit on
his death. Show clearly the calculation of P's share of profit.
13. 31.12.2017erf W^^ gtj erf rf feFJ gf%^FT ^l^^^ ^4 cfTf ^^^l cT^TT ifTftH ^^M f t-
(Following is the Receipt and Payment of Indian Sports Club for the year en
31.12.2017.

Receipt Amount Payment A nount (F

(Rs)
3TT/3TT (To Balance b/d) 10,000 By. cf^R (Salary 15,000
(To Subscriptions) 52,000 By. f^rfePJ^ 20,000
(Billiards Table)
^Je^) (To Entrance fees) 5,000 By. cbl^fd^l (Office 6,000
Expenses)
(To Tournament 26,000 31,000
Fund) (Tournament Expenses)

g -Trf erf ^^rf 1,000 By. ^^efcf^^ v^^^c^ (Sports 40,000

rf Equipments)
(To Sale of old news paper)

(To Legacies) 37,000 By. im 3TT/3TT (Balance b/d) 19,000

1,31,000 1,31,000

31.12.2017 ^rf 3T^xT ^^[ ^0 2000 ^M 31.12.2016 erf ^0 3000 F I (On 31.12.201
subscription
outstanding was Rs. 2000 and on 31.12.2016 Rs. 3000.) 31.12.2017 erf 3T^r ^0 1 DO 2jy|
(Salary outstanding on 31-12-2016 was Rs. 1500) 01.01.2016 erf cf^^ cf> ^)0 75 )00 ey>T
^)0 18000 c^l ^)^^r|^ ^^O 30000 e^^ 12 rfcf^RT f^RT^T ^^T ^0 30000 rfl
 (On 01.01.2016 the Club had building Rs. 75,000, Furniture Rs. 18,000, 12 'o inve ment
Rs. 30,000 an sports equipment Rs. 30,000) ^• ^^T ^R W\ eft ^ i ifer 10 fcRlcT
^Jc^RT eFTRTT ^TI (Depreciation Charged on these items including purch es was 10%)
31.12.2016 ft fen? 3M-cZR? ^dT ^fi? I Prepare Income and Expenditure A/C o 31.12.
016.
14. 31 ^l^^ 2017 eft P, Q cRTT R ^^t cTPT—^ffft eft 2:2:1 e^^ 3RnM ft f^^^^ftd" cfjftf t,

The Balance-Sheet of P Q & R sharing profits and losses in the ratio of 2:2:1 as on 3 Mar,
2013 is as follows:
Liability Rs. Assets Rs.
(Creditors) 30000 (Cash) 3,300
(Capital)
P 60,000 (Bank) 12,50
Q 60,000 1,50,000 (Debtor) 25,20
R 30,000
(Stock) 30,00
l,09,0(

(Fixed Assets)
1,80,000 l,80,0(

tj
vJM^<W eft ^^
(From 1 April 2017, they decide that profit sharing ratio among them an their apital
should be equal. The total capital of the firm is to remain to Rs. 150000. An deficie^cy in
the capital of a partner is to be brought in cash. Pass journal entries to record tie abo\

15. 31 W^, 2017 eft ^nftcft fcTO ^^ ^^ 4,000 12 ^fc^ld ^^uN^ ^^ftcfi ^^0 100 cfTet ^ ft feH?
^1 t^TT W^^ ^ fif) ftl^ efPT ^ ft ^^T ^fHT t ?RTT cTPT—^Tf^^ ^ift cf^ ft^ 4,00,0 ot
ft ftf^ ft ft^ffilcT ^iftcf ^fil^^ft efft |
Apolo Ltd. had 4,000 12% debentures of Rs. 100 each due for redemption on 31 I larch,
2017. Assuming the debentures were redeemed out of profit. There was a alance ofRs.
4,00,000 in surplus i.e., balance in profit & Loss.
Pass necessary journal entries for redemption of debentures.

16 A B t c^TTjm c[ ^lft cf>r felRT 2:1 ^> tl C eflft T/4 m

C W:3Cj600 ^vft eTT^TT 3Jf^ A ^ B 3fJ RT
C cf> ?[c^\ ^^ ^ 31 ^^i^i, 2017 eft A TJcf B chT 3#^^ f^^^r ^^ ^cf>R f |
A and B are partners in a firm sharing profits and losses in the ratio of 2:1 C is adjnitted
into the firm with 1/4tR share in profits. C will bring in Rs. 30,000 as his ipital and the
capital of A & B are to be adjusted in the profit sharing ratio. The Balance - Sheet of A+B
as on 31 Dec. 2017 (Before c,s admission) was as follows :
 Balance-Sheet
as on 31 Dec. 2017

Liability Amount Assets Am ^ii nt

Rs. Rs.

(Creditors) 8000 (Cash) 2(00

ftj fftRl (Bill Payable) 4000 nk) 10,000
RFT (General Reserve) 6000 ^R (Sundry Debtors) 8(00
(Capital) Stock) 10)00
A52,000 (Furniture) 5000
B32,000 82000 (Machinery) 25)00
uilding) 40)00
100.000 10C ,000
^^ ^ (It was agreed that:)
(i) C ^>0 12,000 ^rfcT ft 3Flft Wl el 3^PTT I (C will bring in Rs. 12,000 as hi share cf
premium)-'L
(ii) ^^T c^i ij^f ^o 45,000 ^RTT ^R?^ft ^>0 23,000 11 (Building were valued Rs. 45 000
and Machinery of Rs. 23,000)j
(iii) ft^RRf ^R 6 mRri^ eft ^ ft ^Fff^^T ^itftt (A provision fo doubtfikl
debts is to be created @ 6 % on Debtor)
(iv) A ^cf b e^^ ^juft m^ eft ^^ ^el ^ Wt | (The capital of A & B ire to be
adjusted by opening current Accounts)
ft^ ^f
(Record necessary journal entries, show necessary Ledger Accounts and prei are Balance -
sheet of the new firm.)
17 S fefo eft ^0 50,00,000 t ,000 3RTf ^f fc^TI uRT 1 ^t ft 8
ft ^0 200 c^ 12,000 3Rlf ftft ft^T fft^^

60, 3l|cjC^ ^R ^>0 6

ZfRRfT i ^o 30 m\ Wm R# ^F^TT ft 11,000 3Rlf 3TTc^^
3JM ft ^^l ^
(The authorised capital of 5 Ltd. is Rs. 50,00,000 divided into 25,000 sh^ *es of F ^. 200
each. Out of these, the company issued 12000 shares of Rs. 200 each at a premium of
10%. The amount per share was payable as follows :
Rs. 60 on application, 60 on allotment (including premium)
Rs. 30 on first call and balance of final call.
Public applied for 11,000 shares. All the money was duly received.
Pass Journal Entries.

Part-B
18 ^^Il^d cfFfM eft cjFqftt ^^ f^^ll^^ fftcRR ft ...^..fttftcf) ft ^FrPfcT fft^RTT
(Proposed dividend is shown in the Balance-sheet of a company under the h ad)
(i) ^cHcpicild MR (Short-term provision) (ii) ft^PT t^ ft^^ (Reserves & Si plus)
(iii) ^TcT ^lFfRT (Current Liabilities)(iv) 3RZJ cUn^ (Other liabilities)
19 eft Tjtf 4C0000 ^^ ^cfR ^0 500000 ^^ ^ I ^ft fftclft

(Tangible assets of a company increased from Rs. 400000 to Rs. 500000. WHat is the
percentage (%) of change)
(i) 20 %(ii) 25 %(iii) 33 1/3(iv) 50 %
20 PinfelRsId ^fft ftt cf^fft ^^ 3TTf^fc fxjedl ^f 3TFT fft^! ft^^ftf ft 31^dJfd ^^v^sllfti ?
( Under what headings will you show the following items in the Balance-She ^^ of the
company)
(i) 3^Tff^^cT cimm (Unclaimed Dividend) (ii) ^ft^ ^^T (Debentures)
(iii) ^^ fftft ^^ 3^y (Forfeited for Tax)(iv) cfR ft fc^ ^^^FT (Provision i >rTax)

21 f^FT fttFTTft ft TPJHT efft -

(i) cRef 3T^^T (ii) W^^ ^ eTPT ST^^T (iii) ^T-^FfcTT
ft 3M ^0 4,00,000, ^lft^^cf) ^ftcRTT ^)0 10,000 3tf^^ft ^ftrRTT ft^O 3000
?^T ft^TeFT ft 3TFT c^T 80 ft^^RT, 0 20,000, 00000,
3000 ^ol ^T^^tT ^J0 6000, 9 ftc^KT 0 400000, ^ft ft
1,50,000, ^^cTT 3m ^ft ^)0 800000, 8 3^T ^^^t ^0 300000
From the following informations calculate :I
9i) Liquid Ratio (ii) Gross Profit ratio (iii) Debt to equity ratio.
Revenue from operation Rs. 400000, Opening inventory Rs. 10000, Closing nventoiV Rs.
3000 less than opening inventory, Net purchases 80% of Revenue from oper tion, D^rect
Expenses Rs. 20000. Current Assets Rs. 100000, Prepaid expenses Rs. 3000, current
liabilities Rs. 60000, 9% Debentures Rs. 400000. Long term Loan from Banl Rs. 150000
Equity share capital Rs. 800000, 8% preference share capital Rs. 300000.

22 feTO eft 31 ^ft 2017 cM 2018 ft 3^l^^ f^^^ PlHfelRsId t -

(The Balance- sheet of Jagran Paper Ltd. as at 31 Mar. 2017 and 2018 are gb ;n below

Particulars Note 31.03.2017 3 .03.2018

No.

I. ^^T ^T ^^^ (Equity ^nd Liabilities)

1.3mlRcF ^^fftft (Share holders fund)
(a)Shaare Capital 600000 720000
(b)Reserve and surplus : 375000 ^80000
(i) Statement of profit & loss
2.3mef ^^fd^ (Non Current Liabilities)
Long term Borrourings 450000 270000
Debentures.^!
3.^eJTc^ "ftl^T^ (Current Liabilities) 90000 12000
Trade Payables
(Total) 15,15,000 5,90,000
 II. nR^Riqi (Assets)
1.^j-qci e|R>^^qmqi (Non-current Assets)
(i) Land^fV5d 300000 400000
(ii) Plant 600000 ^50000
Accumulated Depreciation (180000) 140000)
2.^Ic HR>^i^-HRl4ji iQurrent Assets)
Inventories | '-/ 4200000 560000
•^ Trade Receivables 225000 500000
Cash & Cash Equivalents 150000 80000
(Total) 15,15,000 5,90,000

erf c^^ -^^H ^0 75000 cf> eTFfM cf>r ^RTR fc^pZfT |

(Dividend of Rs. 75000 have been paid during the year)
^^ MT^ t^^ror ^^^R W^ I (Prepare Cash flow statement)