i 67/1/3 · pdf file · 2017-06-01code no. 67/1/3 セュア[ャセ ... state the...
TRANSCRIPT
I Series : SMAll I m;t. Code No. 67/1/3
セュア[ャセMセセセMセ@1V31cW:rm 1
Candidates must write the Code on the title page of the answer-book.
• セセcrBGrヲ」ョセキMZヲMBャゥ[ャGNアセセャVエ@ I
• キN]イMMア[イBャャセセ」ゥイN。ュMセセュセア[ャGooヲセMセセセMセッOュ@ 1
• セ@ セ@ CR' 'R ヲ」ョセ@ w-:f-"li;l' ll 23 w-:f t I
• セセ」ョイセヲヲヲゥrtキュセセN@ セ」ョイセセセ@ 1
• セ@ w-:f-"li;l' q;l セ@ セ@ セ@ 15 fl:Rc: q;r セ@ セ@ セ@ セ@ I w-:f-"li;f q;r fcRRur セ@ ll 10.15 セ@セ@ セ@ I 10.15 セ@ セ@ 10.30 セ@ {fCf) '001' セ@ w-:f-"li;f q;ll$f afu' セ@ セ@ セ@ セ@ セ@
- セMセQv」ョIエセセセ@ I
• Please check that this question paper contains 16 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 minutes 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 script during this period.
RWtrr tl1Fl : 3 CJUt 1 Time allowed : 3 hours 1 ᄋセGゥャアェ[Zア@ セZ@
hFャセャャヲ_ャ@ACCOUNTANCY
(i) 'lW r!Ff-W rfT:r 'l1fTff 7f fcrqqrr t- q;; ?Sf 3#r TT I
(ii) 'JWT q; wit FRif cfi fMrr セ@ t I
(iiiJ セ@ Cf# m 'JWT ?Sf 3hr 7f7f # CfiTt f!q)'JWT m CfiRT t 1
(iv) fcRft rrFr cfi wit 'l1f1ff cfi dfff f!CI? "if セ@ W' セ@ I
General Instructions :
(i) This question paper contains three parts A, B and C.
(ii) Part A is compulsory for all candidates.
[ セ。ヲアL@ :80 [Maximum marks : 80
(iii) Candidates can attempt only one part of the remaining parts B and C.
(iv) All parts of the questions should be attempted at one place.
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PART-A
Hセ@ セᄋャ。GQQL@ ヲゥゥセセfヲゥ@ ュMセ@ c「ゥTヲBGQセQ@ ct>'fi;n:r H&iCb"'1)
(Accounting for Not-For-P_rofit Organisations, Paftnership Firms and Companies)
1. セャNZwjtセセセセセ」エセMュイア[イセュュエ_@
For which share of Goodwill a partner is entitled at the time ofhis retirement?
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2. セセGwt\rュMtセセtkセセセヲ」イヲヲゥ」ャセア[イセセ@ I 1 Name the financial statement prepared by a Not-For-Profit Organisation on accrual basis.
3. セセセセMセセB」エセア[イセセヲヲゥGャZイセ@ I
Give any one advantage for the redemption of debentures by purchase in the open market?
4. セ@ セ@ mT tft TTt セセ@ ct セ@ ct セ@ -q: セ@ '81$1<;1(l セ@ ct セ@ Cf;T
1
セセi@ 1 State the provisions of Indian Partnership Act regarding the payment of remuneration to a partner for the services rendered.
セᄋ@ セQヲQQエJBセJBセM・ケセア[イセセ@ I
6.
State any two occasions on which a firm can be reconstituted.
セwiBNセ@ Till wiBNセセ@ 1o,oo,ooo ct 'qCR Cf;T セ@ M 1 セオイョ@ ct 1o% Cf;T 1fRfR Till WI". q;l セ@ セ@ ct m-r fcn<n 'T<IT 1 セ@ um Cf;T 'lfffiR セ@ 1 o セ@ ct "WffiT セN@ m 1 o% ct セ@TK Frffi:m fcn<n 'T<IT 211, *" mT fcn<n 'T<IT I
セ@ Wr. q,1 セ@ ll SQQcャセャjcヲI@ (hHI4"CCI セヲアヲ|Z・ャjゥ@ セ@ I
Jain Ltd. purchased Building ヲッイセ@ 10,00,000 from Gupta Ltd. 10% of the payable amount was paid by a cheque drawn in favour of Gupta Ltd. The balance was paid by issue of Equity Shares ッヲセ@ 10 each at a discount of 10%. Pass necessary Journal Entries in the books of Jain Ltd.
セセwイN@ セセ@ QPPセJBWUPPL@ QREセL@ ュMセSUセJBセtkfイヲヲゥZュ@
セ@ 211, "ct tffir セ@ セ@ セ@ I セオイョ@ Cf;T 'lfffiR セ@ TK セ@ 211 I
セ@ ャoLoooセJBヲヲヲゥイセセセ@ QRUPPセJBヲヲヲゥイセcヲゥtᆱセュャヲャゥt@セ@ セオイョ@ Cf11ro セ@ tft TTt 1 セ@ セ@ q;l セ@ Cf;T セ@ セ@ m TfliT 1
セセB」エセセセwイN@ アLャMセMアZ@ (hHI4ill セヲアヲセzャャゥ@ セi@
Narain Laxmi Ltd. invitedapplications for issuing (500, 12% Debentures ッヲセ@ 100 each at a premium ッヲセ@ 35 per_ Debenture. The full amount was payable on application. Applications were received forTO,OOODebentures. Applications for 2500 Debentures were rejected and the application money was refunded. Debentures were 。ャャッエエセ、@ to the remaining applicants: · Pass necessary Journal Entries for the above transactions in the books of Narain Laxmi Ltd.
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( 8. ヲNZーZ\ゥヲセヲ`、@ セセ@ 31-3-2011 」ョイセセセ」エMセセセュM」\ゥ@ aw:rcit, 3Wfo!:pp§ffi# ,;_. セMュ・エMセL@ tヲurtセ@ I 3
セ@ 2010-2011 -q- ュM・\[セ@ ( 3,40,000
31-3-2011 cnT セセ@ ( 47,000
31-3-2011 cnT -31ftrq ュM・\[セ@ ( 35,000
1-4-2010 cnT セ@ セ@1-4-2010 cnT 3lfuq ュM・\[セ@
( 28,000
( 25,000
From the following information, calculate the amount of income from subscriptions to be shown in the Income and Expenditure Account for the year ended 31-3-2011 :
Subscriptions received during the year 2910-2011 ( :1,4.0,000 Subscriptions outstanding as on 31-3:-2011 ( 47,000 Subscriptions received in advance as on 31-3-2011 ( 35,000 Subscriptions outstanding as on 1-4-2010 ( 28,000 Subscriptions received in advance as on 1-4-2010 +- ( 25,000
9. セL@ QヲオZイセセセエ|ゥャャセ」ッイセZ@ 14:5:6 」エMセCセセエ@ 1
1fu:r セ@ muT CROT t セ@ 3l1:AT Mfl1 aom ;5 セ@ ct"lW # セ@ t I セ@ Cf;f '"[lflliCfl'1
セ@ ct- 2 セ@ ct- セ@ ct- セ@ セ@ fct><rr セ@ t セ@ TfURT f1mB ffl";r mm ct- セ@ (qrq
セ」ゥエ@ \i'ffift t I flmB ffi";r q-qf ct" (qrq セ@ ( 50,000, ( 55,000 "fMT ( 60,000 t I "WlR セ@
」ゥエセ@ 1:0I"IT Cf)f セ@ (qrq ( 3o,ooo mmt 1 tfi1t 」ゥエセ@ -q- セ@ Cf)f セ@ セ@ セ@ m-( 75,000 セエ@ QQヲオZイ」エBセセ」ョエセ」エBセャヲゥエヲ」ーイセセ」ーイセ@ ( 1,00,000 t I 3N-ft TfURTaoiT coT fG€H11M セ@ lfill 」ゥエセCセ@ ct" Wlll!l'i1'1 セ@ セ@ fc«wJT cit セャアセ_GTcヲャ@{l'i1'11JOiill セャヲアヲセアェ@ セ@ I 4
Arjun, Bhim and Nakul are partners sharing ーイッヲゥエウBBセ@ losses in the ratio of QNT⦅セBゥ@ : 6 respectively. Bhim retires and surrenders his 5/251
h share in favour of Arjun. The goodwill of the firm is valued at 2 years purchase of ウオーセZイ@ ーイッヲゥエセ@ based O!J (:lver(:lge profits of last 3_ years. The profits for the last 3 years are ( 50,000, s 55,000 & ( 60,000 respectively. The normal profits for the similar firm are ( 30,00Q. Goodwill already appears in the books of the firm at ( 75,000. The profit for the first year after Bhim's retirement was ( 1,00,000. Give the necessary Journal Entries to adjust Goodwill and distribute profits showing your workings.
10. ft Wr. -;:{ wR ( 100 セ@ ct" 750, 12% セ@ ct" セ@ q;r セ@ fW::IT I Cfi10lFft-;:{ 500
セエヲゥヲセH@ YTセセ」ゥエセセセセセm@ セセセエヲゥヲセセMアMセ@
M llCIT I Cfi10lFft -;:{ セ@ 1T;l セ@ セ@ tfif セ@ 3N-ft セ@ -q- セゥエ@ fcncrr "[3TI t I
セセ」エBセセ」ゥエセCSQQ」f_Tcヲャ@ {l'i1'11JOiill ャGャヲアヲセアェセ@ I . 4 Shakti Ltd decided to redeem its 750, 12% Debentures of( 100 each. The company
" purchased 500 Debentures at ( 94 per Debenture from the open market. The remaining debentures were redeemed out of profits., The company had already made a provision for Debenture Redemption Reserve in its books.
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Pass necessary Journal Entries in the books of the company for the above transactions.
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11. セセ@ セセャZヲゥャエCセセ|ゥGヲャ@ 5:3 」I[セCセセセ@ I 1-4-2010 」ョャセ@
セ@ セ@ f.:il=l w:PR" セ@ : セ@ セ@ 60,000 セ@ セ@ セ@ 80,000 iセセ@ 1R 12% >ffu qq- Clft セ@ セ@ セ@ セ@ セ@ セ@ "tR 15% >ffu qq- Clft セ@ セ@ セ@ w1R cnr R*r fcfi<:rr 1 31-3-2011 c:nT wwn セ@ qq- 」I[セセセ@ '8414l'l1'1l セ@ 'Fll:filt cnr セ@ セ@ 12,600 セ@ 1 qq- 」I[セ@m 」I[セ@ セ@ 2,ooo セ@ セ」I[セ@ 4,ooo セ@ 1 セ@ セ@ セ@ cnr セ@ mf.1 f14l'i1"1 "@fffi
セ@ セ@ セ@ セ@ TJURT-m c:nT セ@ セ@ 1 1:filt -q mf.1 セ@ Clft セ@ -q -m セ@ 1f{ セ@ W:rr セi@
Arun and Arora were partners in a fiflll sharing profits in the ratio of 5 : 3. Their fixed capitals on 1-4-2010 were: Arun セ@ 60,000 and aイッイHA⦅セ@ 80,QOO. They fgreed to allow interest on capital @ 12% p.a. and to charge on drawings @ 1_5% p.a. The profit ofthe firm for theyear ended 31-3-2011 before all above adjustments were セ@ 12,600 .. The drawings made by Arun キ・イ・セ@ 2,000 and by aイッイ。セ@ 4,000 during the year. Prepare Profit and Loss Appropriation Account of Arun and Arora. Show your calculations clearly. The interest on capital will be allowed even if the firm incurs loss.
12. f18Rvtf@ct セ」I[セャヲヲZSZイAiヲセイN⦅cャヲエセC@ セセciセT\Zヲャ@ {l'i\"114T.ll セヲcゥヲセzャャゥ@ セZ@
.-(i) セ@ 175 セ」I[@ 1,200, 9% セ」ョイセセ@ QPッセ」I[@ 10% BBQQエセN@ Fr-%5% 」I[セ@ 1R f.:rrTP:lo fcfi<:rr TFIT, # 4RCiffict セ@ セ@ TFIT I
(ii) セUP@ c); 19,000, 6% セB\Zヲゥtセセ@ 100 セ」I[@ W10T セ@ # qf{qffm m
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fcfi<:rr I WlctT セ@ cnT 5% 」I[セ@ "4'{ Rrlfi:m セ@ rr:IT I 6
Pass necessary Journal Entries for the following transactions in the books ofN.R. Ltd: @ Redeemed 1,2,QO, 9% Debentures ッヲセ@ 17S each by converting into New 19%
Debentures セMセスPP@ each issued at a ーイ・ュゥオュNセセMsッOセ@ ·--(ii) Redeemed-19,000, 6% Debentures ッヲセ@ 50 each by converting them into Equity
r! Shares ッヲセャoo@ each. The Equity Shares were issued at a discount of 5%.
13. ᄋセ@ <'MT '"&' セ@ 1:filt c); 3 : 2 セ@ -4 セ@ セ@ 1 31-3-2011 c:nT lf1lt cnr Wffif セ@ f.1R キZpヲサセZ@
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31-03-2011 q;f 'Cfi" セ@ GセG@ ア[ヲセ@ fctcHUI
セ@-nfu ffi"' -nfu
' fii'Q c:u
Mセ@ f セZ@ 'qCR 2,40,000
ᄋセ@ 3,00,000 セ@ 1,75,000
'"&' 2,00,000 5,00,000 セ@ 80,000
セセ@ 1,17,000 セ@ 75,000
セ@ 47,000
6,17,000 6,17,000 " " 1-4-2011 cnT 1filf B\Zヲゥtセ@ m TFIT セ@ ッエZゥセヲ|Q\Mャャ@ セ@ セGQgir\Mャャ@ cnT f'1«11(Ul f'11-111,ot:il( sa:rT:
(i) セ@ -;l 'l1CR cnT セ@ セ@ 'lfffiR セ@ セ@ fu<:rr I
(ii) セ@ cnT '"&' -;l セ@ セ@ セ@ 5% 'Cflll"tR セ@ 'lfffiR セ@ セ@ fu<:rr I
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INセᄋセ@
(iii) セセセSヲエutセセM[サ@ セ@ ULPPPセHGヲャャヲヲゥQrBセセ@ I
(iv) セセセ@ WPLUPPセセセ@ I
(v) '"@"' セ@ セ@ セ@ セ@ セ@ セ@ セ@ セ@ セ@ I セ@ セ@ セ@ セ@ '"@"' Cl1T セ@ 500 CfiT
'lfffiR セ@ 1FIT I セ@ セ@ セ@ cll«ifCICfi "Ufu セ@ 1,000 セ@ I l:fi1t セwwr@ セセ@ Sjゥ\[ェセTcヲゥ@ セスゥhiGBiゥャャ@ l'lfCift<:4l セ@ I
A and B were partners in a firm sharing profits in the ratio of 3 : 2. On 31-3-2011 Balance Sheet ofthe firm was as follows: •
Balance Sheet of A & Bas on 31-03-2011
Liabilities Amount
Assets Amount
セ@ セ@
Capitals: Building 2,40,000 A 3,00,000 Furniture 1,75,000 B 2,00,000 5,00,000 Debtors 80,000
Sundry Creditors 1,17,000 Stock 75,000 Cash 47,000
6,17,000 6,17,000 ... The firm was dissolved on 1-4-2011 and the Assets and Ltabthttes were settled as folluws: (i) Building was takenover bythe creditors as their full & final payment. (ii) Furniture-was -taken over,_by B for cash payment at 5% less than the book
value. - --(iii) Debtors were collected by a debt collection agency at a cost ッヲセ@ 5,000. (iv) Stock イセjェ⦅ウセア@ セNャqセウッッL@ -(v) 'B' agreed to 「・。イセu@ reali.zation expenses. For this service B is.paid セ@ 500.
Actual expenses on realization amounted to セ@ 1 ,000. · MMセ@
Pass necessary Journal Entries for dissolution of the firm.
14. 31-3-2011 Cl1T WW<f セ@ セ@ セ@ セ@ Gセ@ セᄋ@ CfiT Gセ@ セ@ 'lfffiR '@RIT' ヲNQj\ゥヲHQヲセᆪィQ@ 2lT : 6
31-3-2011 セセセイゥ」ヲゥBヲヲヲゥイ@ GセセG@ セュヲエッセ@ 1fl0Rmol" ';f1l1 \if1U
mfto セ@
1flOR セ@
セ@ 3,400 (8 CfiT 24,000
'lf10R) セ@ 21,000 セ@ 3,000
ュセ@ 5,750 セ@ 2,750
セHセ」I[セセ@ 1,000 2,100 セ@ 5,000 セヲuゥヲHQHQI@ セ@ 7,500
セア[イセ@ 7,550 9% セ|ゥヲャャヲ@ 10,000 (30-6-2010 Cl1T)
f.:rcfm CfiT セ@ セセ@ 15,400 セ@ HセGrtt\エI@ 2,950 セ@ 16,000)
55,200 55,200
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セ@ 'mfl:<i セ@ 'lf10R セᄋ@ セ@ 31-3-2011 cp)- セ@ セ@ crtt セ@ セ@ '3Wf セ@ oqc:r "&ffiT' セ@
セi@Following is the 'Receipts and Payments Account' of 'New Club' for the year ended 31-3-2011 :
Receipts and Payments Account of 'New Club' for the year ended 31-3-2011 Dr Cr
Receipts Amount
Payments Amount
セ@ セ@
To Balance b/d 3,400 By Salaries (paid for 8 24,000 months only)
To Subscriptions 21,000 By Rent 3,000
To Entrance Fee 5,750 By Electricity 2,750
To Donations (includes 2,100 By Honorarium 5,000 セ@ 1,000 for Building) By Books 7,500
To Hall Rent 7,550 By 9% Fixed Deposits 10,000 (on 30-6-2010)
To Sale of Investments 15,400 By Balance c/d 2,950 (Book value ( 16,000)
55,200 55,200
From the above 'Receipts and Payments Account', prepare an GjAAMセHI⦅iーN⦅・セ。ョ、@
Expenditure Account' of 'New Club' for the year ended 31-3-20lr------15. G\YGセGtcセセセSZ@ RセセBCセセセ@ 131-3-2011 」ーIMセセセ@
f.:fJ:;r WfiR セ@ : • 8
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31 liT'€f 2011 Cf5T GセGッュ@ 'TT' ア[イセヲ」イ」rBオイ@
セ@セ@ fl+qfit<if セ@
セ@ セ@
エュセZ@ セセ」アアN[サ@ 80,000
'<9' 60,000 セ@ 20,000
'Tf' 40,000 1,00,000 セ@ 10,000
セ@ "5ftUlT セwュZ@ セ@ 1,000 セ@ 25,000
セ@ 60,000 セ@ 16,000
セMュキュ@ 10,000
1,61,000 1,61,000
't:r' cpT f.:p:'1f<1f&<1 ュゥtセセ@ lR セ@ セセ@ 'lWT セセ@ セセ@ セ@ <iRJ<:IT TfCn" :
(i) セセ」ョイ[イイイ@ セRZ@ 2: 1 セセセ@ 1
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(ii) ''Ef セ@ 30,000 3ltfiT lpiT セwュZセ@ (MT セ@ 15,000 "&nfu セ@ セ@ 'lWT セwュZセ@ I
(iii) セ@ セ@ "&nfu q)f 3Tim 'qJ1T セ@ セ@ セ@ セ@ fW:rr セ@ セ@ セ@ セ@ セ@ q)f セ@
GMアGセBAwャャセセ@ I
(iv) セMアイセHmtセセセwイッZUッOッア_ヲュ」イエャrセセ@ I
(v) セ@ 1l エセヲ。Zエヲセュ@ セ@ 500 cit セャヲアアIヲ@ 'lfRlR セ@ セ@ セ@ 1
(vi) セセセセ@ XPPセセセセgtBcエセwイッZュ」イエtrセセ@ I
セ@ fl414l\i1'1l セ@ セ@ ᄋセᄋ@ (MT 'TT' セ@ lpiT セ@ q?f fl414i\i1'1 '-q' cit lpiT セ@ セ@ -qr
セセN@ セwイッZセセセセセSャGTcitセGャヲrjrセセ@ I
YIGQT|セゥcヲゥGQャsヲヲヲゥャL@ flli!GI'I.l セ@ ... lprr セ@ (MT セ@ セ@ q?f セ@ fqq-{ur セ@ セ@ I
mrcrr
ᄋセᄋL@ ·t· (MT ᄋセ@ セセ@ ll セ@ q "\i1T セ@ "CfiT 7:2:1 セ@ セ@ ll セ@ セ@ ql 31
l1T'Cf, 2011 "CfiT セ@ q)f セ@ fqq-{ur f.:p:::u'jfll{ セZ@
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31 セ@ 2011 C6T ''if', 'f' セ@ Gセ@ corfu?mr-fcrcrrur
セBQgirアゥ@-mr R "' -mr
fii'Q fjqj f セ@
lpff: "&nfu 40,000
ᄋセᄋ@ 70,000 セHmtGアアNヲ@ 60,000
·t· 20,000 セ@ 40,000
ᄋセ@ 10,000 1,00,000 セ@ 7,000
wャQrヲセ@ 20,000 セ@ 12,000
't' q)f ?itUT 30,000 セ@ 5,000
セ@ 14,000
1,64,000 1,64,000
24 -wrn; 2011 "CfiT ·to cit セ@ m TTt 1 M セ@ セ」ゥエ@ lff<:I -q"{ セ@ lpfT セ@ 3F<i セ@
eycij セヲNZイエBrZr@ セwュZ@ エセiDQghャ@ セ@ ll f-18f1:1PsH1 mcrtTR Wf セエZ@(i) セセ」ゥエ@ lff<:I セ@ セ@ (fCf) セ@ ffi'l1 セ。ュ@ cit TTURT セ@ セ@ crc:rr セ@ セ@ セ@
セ@ セ@ -qr 」ゥエセ@ "\i1T セ@ 80,000 セ@ I
(ii) エセaゥヲヲャャャャ@ セ@ YIGQT|セゥcヲゥGQ@ (MT セGQgirTャ@ セャヲャZ@ f.:NRur ll セセセセ@ mR q)f am, "\i1T f'181'jfll< t : セ@ (MT 'qCR q)f YIGQT|セゥcヲゥGQ@ セ@ 94,000, セ@ q)f セ@ 38,000 (MT セ@ q)f
セ@ 5,000 セ@ Tfc:rT I セ@ セ@ セwュZ@ セ@ -qr Rセ@ q?f セ@ セ@ Tfc:rT I
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(iii) f.::rcRvf セ|ゥャャ@ 'l' セ@ f.:t&:Ji<;Cfl 'Cfll セ@ セN@ セ@ セ@ セ@ ll セhiGBヲャrッ@ Cf;t ey llt, セ@Gャヲャorセャャmセ@ I
GャGQャヲセゥcヲャGQ@ セN@ GXQDQ\[QセNQ@ セ@ セ@ セN@ 'l' セ@ セ@ CfiT セ@ セ@ ᄋセᄋ@ セ@ ᄋセ@ CfiT Wlfu fqcwJr セ@ セ@ セ@ ;wR ipiT セ@ "Cfl) セ@ ffi'l1 セ@ ll セ@ セ@ 04q'81lJ 'Cfll セ@ セ@CfiT f.wT.r:r M セ@ , fcRft m- セ@ <rr "Cfl1=ft 'Cfll '8t$l<;R1 セ@ セ@ セ@ .q セ@ H l'"flRo Cf;t セ@
セi@
'B' and 'C' were partners sharing profits in the ratio of 3 : 2. Their Balance Sheet as
on 31-3-2011 was as follows:
Balance Sheet ofB and Cas on 31-3-2011
Amount Amount Liabilities Assets
f f
Capitals: Land and Building 80,000
'B' 60,000 Machinery 20,000
'C' 40,000 1,00,000 Furniture 10,000
Provision for bad debts 1,000 Debtors 25,000
Creditors 60,000 Cash 16,000
Profit and Loss Account 10,000
1,61,000 1,61,000
'D' was admitted to the partnership for 1/Sth share in the profits on the following
terms:
セHゥI@ The new profit sharing ratio was decided as 2 : :: _:_].
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(ii) D will 「イゥョァセ@ 30,000 as his capital 。ョ、セ@ QセLPPP@ for his share of goodwill.
Wi) Half of goodwill amount was withdrawn by the partner who sacrificed his
share ofprofit in favour of'D:.
(!.¥} A provision of 5% for bad and doubtful debts was to be maintained.
(v) An item off 500 included in Sundry Creditors was not likely to be paid.
(vi) A provision ッヲセ@ 800 was to be made for claims for damages against the firm.
After making the above adjustments the Capital Accounts of 'B' and 'C' were to be
adjusted on the basis of D's Capital. Actual cash was to be brought in or to be paid
off as the case may be.
Prepare Revaluation aセ」ッオョエL⦅p。イエョ・イGウ@ Capital Accounts and Balance Sheet of the -------- • ··- ., --· N⦅N⦅⦅⦅⦅セMMᄋ@ -·· - .,
new firm.
OR
8
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-y:-- 'G', 'E' and 'F' were partners in a firm sharing profits in the ratio of 7 : 2 : 1. The
Balance Sheet of the firm as on 31st March, 2011 was as follows :
67/1/3
Balance Sheet of 'G', 'E' and 'F' as on 31st March, 2011
Amount Amount Liabilities Assets
f f
Capitals: Goodwill 40,000
'G' 70,000 Land & Buildings 60,000
'E' 20,000 Machinery 40,000
'F' 10,000 1,00,000 Stock 7,000
General Reserve 20,000 Debtors 12,000 -Loan from 'E' 30,000 Cash 5,000
Creditors 14,000
1,64,000 1,64,000
'E' died on 24th August 2011. Partnership deed provides for the settlement of claims
on the death of a partner in addition to his capital as under :
(i) The share of profit of deceased partner to be computed upto the date of death
on the basis of average profits of the past three years which was f 80,000.
(ii) His share in profit/loss on revaluation of assets and re-assessment of liabilities
which were as follows :
Land and Buildings were revalued at f 94,000, Machinery at f 38,000 and
Stock at f 5,000. A provision of2!% was to be created on debtors for bad and
doubtful debts.
(iii) The net amount payable to 'E's executors was transferred to his Loan Account,
to be paid later on.
Prepare Revaluation Account, Partner's Capital Accounts, E's Executor A/c. and
Balance Sheet of 'G' and 'F' who decided to continue the business keeping their
capital balances in their new profit sharing ratio. Any surplus or deficit to be
transferred to current accounts of the partners.
9 [P.T.O.
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16. セ@ fR. セ@ セ@ 10 セセ@ 80,000 Bwritセ@ セヲNZイィZr@ セセ@ セ@ セ@ セ@ I 'f-1 セ@
em セ@ 4o セ@ セ@ セ@ セ@ -q"{ f.:r'ffi:m Cf;8T セ@ 1 "{Tfu Cf;T セ@ R8 セ@ セ@ CfiBT セ@ : s
セ@ -q"{ セ@ 35 セ@ セ@ Hセ@ 30 セ@ flfa:jf('lct)
セ@ -q"{ セ@ 8 セ@ セ@ Hセ@ 4 セ@ ヲャヲ。Zェヲセ」エI@
セセセセwMwエャ@
77,000 ahiT セ@ セ@ セ@ mt<1 セ@ I セ@ セ@ em セ@ "CflT セ@ C6r W;rr 1r:rf I セG@
m 1,ooo 3lm Cf;T セ@ セ@ rr:rr セL@ セ@ セ@ mw Cf;T セ@ セ@ セ@ 1 セ@ セ@ セ@
セ@ セ@ a:fm ・ュセ@ C6r fW:rr 1r:rf I dtl'Hillct.._ セ@ セ@ セ@ <:rRRT 11'lTft Tit iセN@
セ@ '!lm 5oo セ@ et, セ@ セ@ セ@ セ@ セ@ Cf;T セ@ セ@ セ@ 1 セ@ 3lm em m セ@Cfl\ fW:rr TFrr iセセ@ TTCi 3lm ll セ@ 1,000 3im "CflT セ@ UPセ@ 3iw 'Ef>1 セ@ セ@ セ@ セ@ lf{ :
Frh:R CflrW:lr TFrr I lfl: f.:rifi:m セ@ TFt セ@ ll セ@ セセ@ .3ffi GXヲaTヲセ」エ@ et I
セ@ Wr. "Cfft セ@ ll セ@ セ@ セセ@ 311CI/?4Cfl セャGjhigゥャャ@ AZャヲアヲセTゥ@ セ@ I
セ@
セ@ fR. セ@ セ@ 10 セ@ セ@ 35,000 "WffiT a:rm CfiT 10% セ@ セ@ -q"{ f.1riPm セ@ セ@ セ@ セ@
セ@ セ@ I 'Ufu "CflT 'lfTctR RB セ@ セ@ Cf;BT セ@ :
セMアBサセ@ UセSャキ@
セMアBサセ@ 3 セ@ 3iw
セセセセMアBサMセ@
so,ooo arnr セ@ セ@ セ@ セ@ セ@ 1 s,ooo a:rm セ@ セ@ セ@ em セ@ Cfl\ W:rr TJ<n セ@ 'f-1
セ@ "Cfft セ@ "Ufu qp:m Cfl\ Gl Tit I m セ@ em 3i'ffl "CflT セ@ 3111qlfoi:fl 3ITtlR" tR"
fcf;<rr lfliT (MT 'f-1 セ@ セ@ セ@ -q"{ mt(f セ@ -nfu "CflT fiGI41"1"1 セ@ "<R セ@ "{Tfu it
CR ft;r;rr lfliT I ""11cR セ@ 600 3i'ffl セ@ セ@ セ@ fcf;<rr セ@ I セ@ セ@ 'tTfu (MT WTl1 セ@
セ@ セ@ セ@ "CflT 'lfRIR セ@ fcf;<:rr I セG@ \ifT 400 3Wf "CflT セ@ セN@ セ@ WTl1 セ@ セ@
\Zヲratセ@ "CflT 'lfffiR セ@ セ@ I ""11cR セ@ セ@ セ@ 3lm CfiT セ@ C6r ft;r;rr TiGIT I セ@ セ@ セ@
ahiT 1l セ@ 800 amT em セ@ 15 セ@ 3iw セ@ セ@ lf{: f.:rrtftTct" CR セ@ TiGIT I
1ft: f.:rifi:m セ@ TT<t amt -q • セ@ セ@ :am エセヲuゥヲHGャ」エ@ et 1 セ@ セ@ セ@ セ@ セ@
Wr. Geヲ^ャ N セ@ ll 311CI/?4Cfl セャBQBQQgヲZャゥ@ セヲアヲセTゥ@ セ@ I
67/113 10 '1;..1'
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u
Shyam Ltd invited applications for ゥウウオゥョァセ⦅q Q PPP@ Equity Shares of { 10 each at a
premium of { 40 per share. The amount was payable as follows :
On Application { 35 per share (including { 30 Premium)
On Allotment { 8 per share (including { 4 Premium)
On First and Final Call- Balance
Applications for 77,000 shares were received. Shares were allotted to all the
. applicants. Sundram to whom 7 ,QQO shares were allotted failed to pay the allotment
money. His shares were forfeited immediately after allotment. Afterwards the first
and final call was made. Satyam the holder of 500 shares failed to pay the first and
final call. His shares were also forfeited. Out of the forfeited shares 1,000 shares
were re-issued at { 50 per share fully paid up. The re-issued shares included all the
shares of Satyam.
Pass necessary Journal Entries for the above transactions in the books of Shyam Ltd.
OR
Jain Ltd. invited applications for issuing ]5,000 Equity Shares of { J.O each at a
discount of 10%. The amount was payable as follows :
On Application { ? per share.
On Allotment { 3 per share
On First and Final Call - Balance
Applications for 50,000 shares were received. Applications for 8,000 shares were -rejected and the application money of these applicants was refunded. Shares were
67/113
allotted on pro-rata basis to the remaining applicants and the excess money received
with applications from these applicants was adjusted towards sums due on allotment.
J eevan who had applied for 600 shares failed to pay allotment and first and final call
money. Naveen the holder of 400 shares failed to pay first and final call money.
Shares of Jeevan and Naveen were forfeited. Of the forfeited 800 shares were
re-issued at { 15 per share fully paid up. The re-issued shares included all the shares
ofNaveen.
Pass necessary Journal Entries for the above transactions in the boQks of Jain Ltd.
11 [P.T.O.
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GュGtMセ@
PART-B
セ@ ヲセ」huゥェ@ ctrr ヲセャゥセeTPQI@
(Financial Statements Analysis)
7 ᄋセセヲオcrutᄋ@ GRR Cfif セ@ セ@ I
18.
I
State the purpose of preparing a 'Cash Flow Statement'.
ᄋセ@ pQセセQcV@ セ@ "[[U セ@ セ@ セ@ セ@ Rvro: セ@ 'TffiR' CfiT セ@ セ@ fcrcRuT セ@セセセcヲゥイセセセ_@
While preparing Cash Flow Statement what type of activity is, 'Payment of Cash to acquire Debentures by an Investment company' ?
State the significance of Analysis of Financial Statements to the 'Lenders'.
. NOセエZ@ MュNセN@ rn-. Cfif セ@ セ@ 3.s : 1 O'lfT mffi1T セ@ 2 : 1 セ@ 1 * セ@ "[[U セ@ qft / / |ャGャャセ」Himj@ Tffl1 '(Oiutf1'141 セ@ "ffi<'f '(Oiutf:a41 cor 3Rff セ@ 1,50,000 セ@ m セ@ GHoゥオエヲセTQ@ O'lfT セ@
1
1
1
man qft TfURT セ@ 1 3
O.M. Ltd. has a Current Ratio of 3.5 : 1 and Quick Ratio of 2 : 1. If the excess of Current Assets over Quick Assets as represented by Stock is セ@ 1 ,50,000, calculate Current Assets and Current Liabilities.
2.1. f"1Afc:-tf&o セ@ セ@ ヲセaヲ」ZMエヲFッ@ .q セ@ セ@ セ@ セ@ qft 7lURT セ@ :
J セ@ "3JtUT-w:rnT セ@
r:sQ Cflt<hfiM ifiT 3iiCRf セ@ "ffliT
(11) Rem "tR セ@
セ@ : W1ffl セ@ ifiT セ@ 50,000 ; セ@ セ@ セ@ 5,000 ; ffi'll-mH (9fflT セ@ セ@ CR セ@
'TffiR セ@ セ@ セ@ 15,000 ; 9% セ@ セ@ 20,000 ; セ@ セ@ 15,000 ; セ@ O'lfT 'l1cR セ@ 65,000
セ@ セ@ 15,000; セ@ セ@ 14,500 "ffliT セ@ セ@ 5,500; セ@ セrイヲア[イ@ BエャBエセ@ セ@ 5,000 I
31-3-2011 CfiT 'Wnl{f SCf 'Cffi セ@ Rvro: セ@ セ@ 1,50,000 セN@ CR セ@ 50% I
67/113 12
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1 J .,
From the following information, 」。ォセZエャ。エ・@ any two ofthe following ratios:
• (a) Debt-Equity Ratio
(b) Working Capital Turnover Ratio and
(c) Return on Investment
Information : Equity Share Capital f 50,000, General Reserve f 5,000; Profit and
Loss Account after tax and interest f 15,000; 9% Debentures f 20,000; Creditors
f 15,000; Land and Building f 65,000; Equipments f 15,000; Debtors f 14,500 and
Cash f 5,500. Discount on issue of shares f 5,000.
Sales for the year ended 31-3-2011 was f 1,50,000. Tax rate 50%.
mlr fcrcRuT
f
.aw:r :
セ@ 2,00,000
-3Rf .aw:r 15,000
¥1" .aw:r 2,15,000
Q!:j'(:f : r
セ@ セ@ lffi'f ctt セ@ 1,10,000
セqAZェGHZヲ@ 5,000 t
¥1" Q!:j'(:f 1,15,000
)
CR" 40,000
4
67/1/3 13 [P.T.O.
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Following is the Income Statement of Raj Ltd. for the year ended 31-3-2011 :
Amount Particulars
f
Income:
Sales 2,00,000
Other Incomes 15,000
Total Income 2,15,000 )I
Expenses:
Cost of goods sold 1,10,000
Operating expenses, 5,000
Total Expenses 1,15,000
Tax 40,000
Prepare a common size iョ」ッセョエ@ ofRaj Ltd. for the year ended 31-3-2011.
23. 31-§-2010 セ@ 31-3-2011 q;)- m.tft.fR. セ@ ヲNー]MエヲHGャヲセッ@ セヲアアMサオヲィャ@ セセヲ」イ」rオイ@ セ@
セZ@ 6
セ@31-3-2010 31-3-2011
ヲエBャャヲセゥTQ@31-3-2010 31-3-2011
f f f f
。ュセ@ 3,00,000 4,50,000 セ@ 37,500 31,250
'qCR 4,50,000 4,50,000
セMュセ@ 75,000 1,50,000 f.rcffl - 56,250
セ@ 1,50,000 1,91,250
セ[`jt@ 1,50,000 75,000 セ@ 7,500 11,250
セfrQQヲ」ュ@ セ@ 60,000 45,000 セ@ 15,000 66,250
ア[サセ@ 30,000 52,500
セ@ 45,000 33,750
6,60,000 8,06,250 6,60,000 8,06,250
6711/3 14
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。ゥヲHGゥヲィュセZ@
crt lf セ@ 1,50,000 セ@ セ@ セ@ セ@ 'l1cR" セ@ セ@ セ@ 6,000 CfiT mH o/ fc!;<rr セ@ I 'l1cR" o/
セ@ QVLPPPセセセセセ@ I
From the following Balance Sheets of C.P. Ltd as on 31-3:-2010 and 31-3-2011
prepare a Cash Flow Statement.
31-3-2010 31-3-2011 31-3-2010 31-3-2011 Liabilities Assets
セ@ セ@ セ@ セ@
Share Capital 3,00,000 4,50,000 Patents 37,500 31,250
Building 4,50,000 4,50,000
Profit & Loss 75,000 1,50,000 Investments - 56,250
. Account Debtors 1,50,000 1,91,250
Bank Loan 1,50,000 75,000 Stock 7,500 11,250
ProQQSed Dividend 60,000 45,000 Cash 15,000 66,250
セゥウゥッョ@ for tax 30,000 52,500
Creditors 45,000 33,750
6,60,000 8,06,250 6,60,000 8,06,250
Additional Information :
During the year building having book value セ@ !_,5Q,QOQ セ。ウ@ sold at a loss ッヲセ@ 6,000.
Depreciation charged on Building was セ@ l_6,QQQ.
'IWI"-'tf
PART-C
H。tiセ@ t"l&iCfi""") (Computerised Accounting)
11. ヲ」ヲゥュセア[t@ セュャヲキュ@ 。ャ」ヲ^セセ@ セエ_@
What is meant by the first digit in the 'code' allotted to an 'Account' ?
18. Cセセ@ セcヲHZitエ_@
What is #Null Error?
1
1
67/1/3 15 [P.T.O.
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19. cヲゥャャャサセサ@ CfiT セ@ &lcf814 cn1 セ@ セ@ Cfi«iT t ?
How does the usage of computers help the business ?
Explain any three features of Computerized Accounting Software.
What is DBMS ? Explain its three advantages.
Write the steps of a query to compute D.A. for employees in Microsoft Access.
23. (Cfi) f-18f<1f@1 セ@ セ@ emiT セ@ cp1 "Ufu cp1 TTURT "CfiB セ@ セ@ セ@ lR セ@ cp1 TTURT
セi@
セ@ TULPPPセャfヲ」エhッ」ョRPE@ 」ョQgイセ[@
セ@ TULPPPセ@ セ」ョQBuヲオャrRUE@ 」ョQgイセ@ I
{liR ctH ᄋセ|@ -q セI@
HセI@ セ@ セ@ セ@ fcrffi<:r CfiT4 CfiT ;n11 セ@ セ@ wャDャゥセq@ セ@ セ@ GT セ@ セ@ l1tZr
1
3
4
セセ」ョQtturtセセヲ」ョ\Zイイセエ@ I 2+4=6
671113
(a) Calculate the formula from the following information on Excel for computing
the amount of conveyance allowance. Basic salary up to セ@ 45,000 @ 20%, for
more than セ@ 45,000 @ 25% (Basic salary is projected in C2)
(b) Name and explain the financial function of Excel which is used to calculate
cumulative interest paid between two periods.
16
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