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.: f: . r -l

!· k t<

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.t

Code NQ.

m-;J.

Boll No. ~. ;f. 1- I I I 1·

Candidates must write the Oo e om the title page of the answer~k. ·.)

trt\amfi .. c5T J"ffl:-~~d>l ~-r-~ "tR ~ fffij I . . ..

• Please check that this question pap-er contains 16 printed pages.

• Code number given on the right hand · side of the question paper shoiuld · e written on the title page of the answer-book by the candidate.

• Please check that t}ris question paper contains 28· questions. 1

.<·

• Please write down the Serial Number of the question: ·'a·~· IN• attempting it .

I

•• 15 minutes tune has been allotted to read this question paper. The q-,les .··: .

• • • .. ..

••

paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 ~-~, ... , student will r.ead the question paper only and will not write any ~,.er ' the answer script during this period. · · ,, .. :\.

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~ ~ 151' ~ ft:it&'11 ~ · ., ~ 'fit ..-.ricn ~ fi;Ai , rl· ~ "SJv.l-~ q;) ~it~ 15 fiRc ."ilr ~ ~ ~ t I~-~ q;r ~:: : · ).·it _;·:·;;•·· .

··:. . I :'· . ' 10.15 ~ ~ ~ I 10.15 ~ ~ 1Q.30 ~ OCii lm ~ ~-~ ... ~;

. . I • ~

~ ~ it ~ ~ ~-~qjJ 'R tSf ~ -;@ ~ I-

ACC I _TA.N.CY . I

~WNfl+bl

fime allowed : 3 hours Maximum Mtrk$i·stj ·:: .. : ·. .~m:ki 3fr1it .8() ~t~· _,...,,,H...,{ \ ~-:; , '

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t . . ~tiL.. ... , · . .oL.i.u.

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General Instructions : (i) This question paper contains three parts A, B and C. (ii) Part A is compulsory for all candidates. (iii) Candidates can attempt only one part of the remaining parts

Band C. (iv)

flllllflil ~ : (i) (ii) (iii) (iv)

All parts of the questions should be attempted at one place.

CfQ' JfR-W rft;r W # fcrJffl; ~ - Cf;, <9 afk 7f I

'lffTT q; trJit eJTW it ~ 3'lf.rll1lf ~ I

~ ~ -m- 'lfT1T (9 aik ., 11 -« q;ff l(ili 'J1T1T ~ C1iRT ~ 1

fitifft JfR it trJit W it ~ ~ (t ~ TR ~ I

PART A (Accounting for Not-for-Profit Organisations, Partnership Firms

and Companies)

~Cfi" --~A • ,. (31MI'te&t\1 · 4t•to:tl, 4t1,C(Ifl ~ ~ CfiU4f.tc4f '$ ~ ft&iCfi"')

1. Name any two financial statements prepared by a not-for-profit organisation.

~<.'11\flf61tl ~ ID'U iAn; ~ C:TTR ~ ~ ~ fctt:~<ofi ~ ~ ~

1

2. What is meant by Partnership deed? 1

{'fi~C::Itl ~ qjf ~ 3li.f ~ ?

3. Why are 'Reserves and Surplus' distributed at the time of reconstitution of the firm ? 1

lfi1f ~ ~<ifflqfor ~ ~ ~~ ~ ~' qjf fcfo{trr ~ fcfi<:rr ~ ~ ?

4. How does the factor 'Efficiency of Management' affect the goodwill of a ~? 1 '"SiiPl Cfit Cflt4§:tt<.'1ot' ~, fcfim 1pf Cfit ~ ~ ~ m >MTfcffi ~ ~ ?

5. What is meant by 'Capital Reserve' ? 1 ~~ ~, qjf ~ 3li.f mm t ?

6. From the following information calculate the amount of subscriptions outstanding for the year 2008 - 09 : 3

A club has 200 members each paying an annual subscription of Rs. 1,000. The Receipts and Payments account for the year showed a sum of Rs 2,05,000 received as subscriptions.

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•. :.•

The following additional information is provided :

Subscriptions outstanding on 31st March 2008

Subscriptions received in ·advance on 31st March 2009

Subscriptions received in advance on 31st March 2008

Rs.

40,000

30,000

12,000

f.ll041f{1fuH1 ~ ~ Cfff 2oo8 - o9 it ~ ~ ~ qif urn qif TfURT ~ : ~ ~ it 200 ~ ~ \lfl ~ 1,ooo ~- ~ T.RJ ~ ~ 1 Cfff cnr ~ ~ :fTOH "&ffiT 2,o5,ooo ~- qif ~ qif "Ufu ttt -~ m-m -~ RI041f~fulo ~ ~ ~ ~ ~ :

31 1lRi 2008 CfiT ~ T.RJ

31 1lRi 2009 CfiT ~ ~ 31 1lRi 2008 CfiT ~-~

~-

40,000

30,000

12,000

7. X Ltd. obtained a loan of Rs. 4,00,000 from IDBI Bank. The company issued 5000, 9% Debentures of Rs. 100 each as a collateral security for the same. Show how these items will be presented in the Balance Sheet of the company. 3

~ F~fiizs ~ ~.m.m.~. ~ ~ 4,oo,ooo ~- cnr ~ tw.rr 1 ~ ~ ~ ~ 5000, 100 ~- ~ ~ 9% :ttolq~ cnr :euu(lqq; ~ ~ ~ # ~ ~ I ~ fcfi ~ it ~-fcfcRul # ~ ~ cnT ~ w.tlR ~ ~ I

8. · DN Ltd. issued 50,000 shares of Rs. 10 · each at a discount of 10% . payable as Rs. 2 per share on application, Rs. 3 on allotment and · Rs. 2 each on first and final call. Applications were received for 70,000 shares. It was decided that

(a) refuse allotment to the applicants of 10,000 shares,

(b) allot 10,000 shares to Mohan who had applied for a similar number, and

(c) allot the remaining shares on a pro-rata basis.

Mohan failed to pay the allotment money and Sohan who belong.ed to category (c) and was allotted 3,000 shares, paid both the calls with allotment. Calculate the amount received on allotment. 3

67/1 3 P.T.O. . . www.examrace.com

m.~. r~fi12-s ~ 10 <i. ~ ~ 5o,ooo aror CfiT wm 1o% ~ 1R M 1 urn f.p:;r WfiR ~ 2ft : ~ 1R 2 <i. "5lfu 3hT' ~ 1R 3 <i. "5lfu 3hT ~ 2. <i. ~ ~ ~ ~ ~ 1R I 70,000 arof ~ fum: ~ ~ ~ I ~ f.:ruf<:r ~~1%

(Cli) 10,000 :mn ~ ~ ~ q;){ ~ -;r ~ ~. ('&) ~ ~ 1o,ooo :mn CfiT ~ M ~. ~ ~ m am ~ fum: ~

M v.rr, ~

(Tf) m- arot CfiT ~ ~lj41fc:1&i arrtm 1R M ~ I

~ ~ ~ urn CfiT ~ ~ M ~ ~ it Cf1f (Tf) i1 ~ v.rr ~ ~ 3,ooo am ~ f%Q: ~ ~. ~ ~ urn ~ m~ GR'f ~an CfiT 'lfTd'R' ~ Cfi\ fu:GrT I ~ 1R >rTl{f urn ctl TfU'RT ~ I

9. A, B and C were partners in a firm. Their capitals were A Rs. 30,000, B Rs. 20,000 and C Rs. 10,000 respectively. According to the partnership deed they were entitled to an interest on capital @ 5% p.a. In addition B was also entitled to draw a salary of Rs. 500 per .month. C was entitled to a commission of 5% on the profits after charging the interest on capital-, but before charging the salary payable to B. The net profits for the year were Rs. 30,000 distributed in the ratio of their capitals without providing for any of the above adjustments. The profits were to be shared in the ratio 2 : 1 : 2. Pass the necessary adjustment entry showing the workings clearly. 4

Cli, '& ~ 7f ~ tfilf ~ .~ it I ~ ~ ~ Cli 30,000 <i., '& 20,000 <i. ~ 7f 1o,ooo <i. 2TI 1 ~~~G"G ~ ~ ~ ~ tm 1R 5% cnm ct=t ~ i1 ~ ~ 2fT I ~ 3lfufu1; '& ~ 500 <i. "5lfu 11ffi ~ ~ 2fT l tm 1R ~ ~ ~ ~ ~ '& ~ ~ ~ i1 ~' ~ CfiT 5% &;4\~H 7f ~ ~ 2fT I ~ ~JOlllfl\31ri1' CfiT ~ fctiQ: ~ 'CI1f CfiT 30,000 "<i. CfiT ~ ~ ~ ~ ~ -q ~ fu:GrT ~ I . ~ CfiT 'lfTd'R' 2 : 1 : 2 ~ ~ -q ~ '\31'RT 2fT I q;flf fcu1uit ~ ~ ~ i1 ~ ~ 3JicH~&i ~l'll~'J1'1 Qfqfu ~ I

10. A, B and C were partners in a firm sharing profits in the ratio of 6 : 5 : 4. Their capitals were A, Rs. 1,00,000, B, Rs. 80,000 and C, Rs. 60,000 respectively. On 1st April 2009 'C' retired from the firm and the new profit sharing ratio between A and B was decided as 11 : 4. On C's retirement the goodwill of the firm was valued at Rs. 90,000. Showing your calculations clearly, pass necessary journal entry for the treatment of goodwill on C's retirement. 4

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. '

q;, ~ ~ 11 ~ l:filf -ij fii~~R ~ 'iff ~ ~ 6 : 5 : 4 in ~ -ij ~ ~ ~ I ~ ~ ~ q; 1,00,000 ~., ~ 80,000 ~. ~ 11 60,000 ~. ?ff I 1 ~ 2009 ~ 11 ~ l:filf -« 3lCfcfim ~ ~~ ~ q; 31h: ~ -q: ;:rGil ~ ~ q;r ~ 11 : 4 f.1 flt:~d -san 1 11 in 3lCfcfim ~ em- in ~ l:filf Cfit ~ q;r

"{<!4 iCh"1 90,000 ~. ~ '11IT I 3ltFit l'fUT"1T ~ ~ \Citi "« ~ ~ 11 in 3lCfcfim

J1W11T em- ~ ~ in ft;t"Q: 3ii<Fi4Ch ~>:1"11ti't:U 'SifcUl ~ I 11. X Ltd. had Rs. 10,00,000 9% debentures due to be redeemed out of

profits on 1st October 2009 at a premium of 5%. The company had ~;L Debenture Redemption Reserve of Rs. 4,14,000. Pass necessary journal entries at the time of redemption. 4 1 ~ 2009 ~ ~ f~Mls ~ 10,00,000 ~. in 9% ~olq'l')i CfiT 5% ~ 'tR

~ -ij "« ~ ~ ~ I ~ in tim 4,14,000 ~· CfiT ~ ~ ~ ~ I "W:R in ~ 3ilct~lfCh ~>:!"11"1't'.ll stfc:lf~4i ~ I

12. From the following information of a not-for-profit organisation, show the 'Sports Material' item in the · Income and Expenditure Ale for the year ending on 31st March 2009 and Balance Sheets as on 31st March 2008 and 318t March 2009.

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Stock of Sports Material

Creditors for Sports Material

Advance to suppliers for Sports Material

31.3.2008 31.3.2009 Rs. Rs.

7,200

5,800

12,000

5,800

9,200

21,000

Payment to suppliers for the Sports Material during the year was Rs. 1,00,000. There were no cash purchases made. 6

~ ~ WTo.f Cfit eft~ f.lt;tf~f~tt ~in 3iT'tlR ~ 3111Ri 2009 ~ ~ ~ m Cfff in ft1Q: awr-Olf'f ~ -q: ~ ~~ ~ Cfit urn ~ ~ ~ 31 11Rl 2008 ~ 31 11Rl 2009 in ~ fc:lq{OTI -q: .qt ~ K@~({ ·j

31.3.2008 31.3.2009 ~. ~.

7,200 f 5,800 'f .t"' .

~ mtnfi m •

~ mtnfi in~ 5,800 •J.

9,200 ·:

~ ~ in ft;t"Q: 3W{ffiCh('1talT ~ ~ ~ 12,000 21,000

qtf in ~ 3il'{ffiChdtalT ~ ~ mmft in ft;rQ: 1,00,000 ~. CfiT ~ ~ lpU

qtf-ij~~~~~'lCff I

5 P.T.O.

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13. (a) X, Y and Z are partners in a firm sharing profits in the ratio

of 3 : 2 : 1. On April l''t 2009. Y retires from the firm . X and

Z agree that the capital of the new firm shall be fixed at

Rs. 2,10,000 in the profit sharing ratio. The capital accounts of X

and Z after all adjustments on the date of retirement showed

balances of Rs. 1,45,000 and Rs. 63 ,000 respectively. State the

amount of actual cash to be brought in or to be paid off to the

partners.

(b) A, B and C are partners in a firm whose books are closed on .

March 31st each year. B died on 30th ,June 2009 and according to ,

the agreement, the share of profits of a deceased partner up to ·

the date of the death is to be calculated on the basis of the

average profits for the last five years . The net profits for the last

5 years have been : 200[5. Rs. 14 ,000; 2006, Rs. 18,000; 2007,

Rs. 16,000; 2008, Rs. 10,000 dossl and 2009, Rs. 16.000. Calculate

B's share of the profits upto the date of death and pass necessary

3

journal entry. 3

(Cll)

(?.9)

~} cnt 11m ~ ~ 11i1f iT ~ ~ ~ ~ em 3 : 2 : 1 * ~ # ~ cffif ~ I 1 ~ 2009 cU em 11i1f Xt ~ ~ ~ ~ I ~ Cf

:*s ~ 11i1f cn1 ~ 2,10 ,000 ~ . f-1f~1:1rl <tl{~ %, it ~ ~rr ~ ~ ~ it ~ I ~ Cf ~ ~; ~ ~ if :3=!CfCfim ~ ~ ~ ~' ~ fF"ll~l·iFi'i ~ ~ ~ 1,45,000 ~. (1~ 63,000 'f.. ffl 0 I fli~C!Jii mT

~~#t~cmt~~~~ l ._;) ,

a1. q 11211 "B ~ 11llf if mVcJ\ * ~ 1fffl~ :;rfu qtf 31 -qTif c8 ~ mm ~ 1 3o \lf1 2oo9 em o.r cn1 'I?J m ~ 1 ---~ ~ ~ ~ ~ ~ '0M ~ ·mr cn1 'TlTRT ~ cn1 fuf~ (lctl ~ ~ ~ ~ 3frnrr '0M ~ 3W:W

<n: ~ I f1lOO ~ ~ ~ ~ ~ 2005 if 14,000 1:;,; 2006 if 18,000 ~.;

2001 it 16,ooo ~.; 2008 if 1o,ooo ~. c~f.n 11~ 2oo9 ii 16,ooo ~. ~ 1

o.r c8 ~ ~ ~ (lctl ~ ~ ~q ~ 3hrf ;:8 'TlTRT ~ 11?.ff 3i!CH ~ctl

D\JHI11ill ~ ~ I

14. Devi Ltd. on 1st April 2006 acquired assets of the value of B.s. 6,00,000

and liabilities worth Rs. 70,000 from P & Co ., at an agreed value of

Rs. 5,50,000. Devi Ltd. issued 12rk Debentures of Rs. 100 each at a

premium of 10% in full satisfaction of purchase consideration. The

debentures were redeemable 3 years later at a premium of 5%. Pass

journal entries to record the above including redemption of debentures. 6

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I • r

~ fe1fi:tl:s ~ 1 • 2006 cit lfi. ~ ~ ctt 6,oo,ooo ~. ctt ~JOqRi4i oq

70,000 ~. qft ~'1~1Rl!l q;r ~ ~ 5,50,000 ~. -q ~ M I ~ f~Ml$ ~ ~ ~ ~ ~ 'i31(11'1'ECI{e\4 100 ~. ~ ~ 12% :t£014::i:'i q;r 10% ~ 'tR

f.:rP:R M I wm 3 Cfll ~ 5% 3ifi4('11it 'tR ~ ~ I ~ ~ ~ ~ ~ 5fi014:fi ~ ~ ~ ~~'11'iifl Sl~fe!lli ~ I

15. X Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as follows :

Rs. 3 on Application

Rs. 6 on Allotment (including premium) and

Rs. 3 on call.

Applications were received for 75,000 shares and pro-rata allotment was made as follows :

To the applicants of 40,000 shares, 30,000 shares were issued and for the rest 20,000 shares were issued. All moneys due were received except the allotment and call money from , Ram who had applied for 1,200 shares (out of the group of 40,000 shares). All his shares were forfeited. The forfeited shares were re-issued for Rs. 8 per share fully paid-up.

Pass necessary journal entries for the above transactions. OR

Janata Ltd. invited applications for issuing 2,00,000 equity shares of Rs. 10 each at a discount of 10%. The amount was payable as follows :

. On Application - Rs. 2 per share

On Allotment - Rs. 3 per share

On First and Final call - balance amount

The issue was undersubscribed to the extent of 20,000 shares. Shares were allotted to all the applicants. All calls were . made and were duly received. 'A' to whom 1,500 shares were allotted, failed to pay allotment and call money and 'B' to whom 1,200 shares were allotted paid the full amount due at the time of allotment. The shares · on which allotment and call money . was not received were forfeited. The forfeited shares were re-issued at Rs. 8 per share fully paid up.

Pass necessary journal entries in the books of J anata Ltd. for the above transactions.

8

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~ f~fiizs ~ 10 ~. ~ ~ 5o,ooo ~ q;r 2 ~. >rrn a-m ~ "~R R*R M, ~ R""ilj'E'IR ~ ~ :

3 ~. ~ "IR

6~. (~~)~~~

3 ~. c:rrT.RT "IR I

75,000 ahiT ~ ~ ~ -q;r >lfC(f ~ ~ ~ ailjqlfuCh 3Wm: "IR R""ilj'E'II<

~ ~ l1GfT:

40,000 ~ ~ ~ -Ch) 30,000 a-m f.1Jifiid ~ ~ ~ ~ -Ch) 2o,ooo ~

q;r R*R M l1GfT I Ull, ~ 1,200 ~ ~ ~ ~ (40,000 ahiT crr#r ~ #) fcFiGrr ~. ~ -o~ c:rrT.RT urn q;r 'TffiH ~ fcfiGIT, -Ch) ~ wit ~<1<1f.<t4i

J.l?:II'E'Iii4 >lfC(f m ~ I ~ wit ~ q;) ~ ~ fW:rr l1GfT I ~ ~ ~ ~

q;) 8 ~. >rfu a-m ctt G\ ~ ~ ~ :f1: R*R ~ fu:<n lfJ.lT I

~ f~fiizs ~ 10 ~. ~ ~ 2,00,000 w:rnr ~ -Ch) 10% ~ "~R f .. •pffiid Cfi"8

~ ft;ro: ~ ailiiR!d ~ I urn f.fl;r m ~ ~ 2lt :

~ "IR - 2 ~. >rfu a-m ~ "IR - 3 ~. >rfu a-m ~ ~ ~ c:rrT.RT "IR - ~ urn

20,000 ~ ~ ~ ~-~ ~31! I wit ~ q;) ~ q;r ~ ~ fu:<n

l1GfT 1 wit mrr llliTI ~ ~ >lfC(f m ~ 1 ~ '31' flffi 1,5oo ~ q;r ~

M l1GfT ~. ~ ~ ~ urn q;r 'TffiR em- # ~ "<m ~ ·~· ~

1,200 a-m ~ ~ ~ it, ~ ~ a-m ~ ~ ~ WlCi ~ 'TffiH ~ ~ 1 m atffi "IR ~ ~ ~ urn ~ m "3";:r ~ -Ch) ~ ~ tw:rr l1GfT 1

~ ~ ~ atffl q;r 8 ~. >rfu a-m "1R ~ ~ :f1: R*R ~ fu:<n l1GfT I

~ ~ ~ ~ ~ f~fiils ctt ~ # 3JicH4Ch U'JI<iliiill 51fqfu4i ~ 1

8

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t6. A, B and C were partners sharing profits in the ratio of 3 : 1 : 1.

X, 87/1

I

Their Balance Sheet as on March 318t 2009, the date on which they

dissolve their firm, was as follows :

Amount Amount Liabilities Rs. Assets Rs.

Capitals Sundry Assets 17,000

A 27,500 Stock 7,800

B 10,000 Debtors 24,200

c 7,000 44,500 Less Provision for doubtful debts (-) 1,200 23,000

Loan 1,500 Bills Receivables 1,000

Creditors 6,000 Cash 3,200

52,000 52,000

It was agreed that

(a) A to take over Bills Receivables at Rs. 800, debtors amounting to

Rs. 20,000 at Rs. 17,200 and the creditors of Rs. 6,000 were to be

paid by him at this figure.

(b) B is to take over all stock for Rs. 7,000 and some sundry assets

at Rs. 7,200 (being 10% less than the book value).

(c) C to take over remaining sundry assets at 90% of the book value and assume the responsibility of discharge of loan together with

accrued interest of Rs. 300.

(d) The expenses of realisation were Rs. 270.

The remaining debtors were sold to a debt collecting agency at 50% of the book value.

Prepare Realisation Ale, Partners Capital Ales and Cash A/c.

OR

9 P.T.O.

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The Balance Sheet of Ram and Shyam, who were sharing profits m

the ratio of 3 : 1, on 31st March 2009 was as follows :

Amount Amount Liabilities Rs. Assets Rs.

Creditors 2,800 Cash at Bank 2,000

Employees' Provident Fund 1,200 Debtors 6,500

General Reserve 2,000 Less Reserve for doubtful debts (-) 500 6,000

Capitals Stock 3,000

Ram 6,000 Investments 5,000

Shy am 4,000 10,000

16,000 16,000

They decided to admit Mohan on April 1st 2009 for 115th share on the

following terms :

(i) Mohan shall bring Rs. 6,000 as his share of premium.

(ii) That unaccounted accrued income of Rs. 100 be provided for.

(iii) The market value of investments was Rs. 4,500.

(iv) A debtor whose dues of Rs. 500 was written off as bad debts paid

Rs. 400 in full settlement.

(v) Mohan to bring in capital to the extent of 115th of the total capital

of the new firm.

Prepare Revaluation Nc, Partners Capital Ncs and the Balance Sheet of the new firm.

10

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·•-;.;.-'-

_ ...... -:.,:,.-.-,., .... , ...

C6, ~ ~ lT fti~~R it alR 3: i: 1 ~. -ij ~~it I 31l1Rf .2009 : ·:ifil, f-im ~ ~ arq;ft ~ q;r ~ em-. q;r f.:luF;r ft;t<n, ~ q;r ~ ~ i

~:

Cfi: 27,500

"{9 : 10,000

ll: 7,000 44,500

~ 1,500

~ 6,000

52,000

~ ~'iildt ~3lT :fc6

24,200

f/GT : ~ri~~~ (-) 1,200

'5(f(2r fiR;r

~

I

\ftr I ~. ;

17,000

7,80Q

23,ooq .

1,ooq

3,200 .

52,~

fq;> Cfi >TJu:r m soo ~. -q ~ 2o,ooo ~. ~ .mffi ~ 11,2oo ~. -q WIT am : 6,0~0 ~. ~ ~ C6T ~ ~ ~ ~ "q\ cWrr I

(~) "{9 ~ lifq; ~- 7,000 ~. -q ~ ~ ~ *~.':qfi14i ~ 7,200 ~. (~ ~ ~ 10% CfilT 'IR) ~ I

('If) lf ~ Gfift ~ ~ ('f~~<n . ~ ~ ~ ~ 90% 1R WIT ~ ~ cu ~ 300 ~. ~ 341~('1 ~ • -~. I

-~) cH{cllCfl\01 ~ 270 ~. it I ~ ,(

. . '

~ ~. ('fl~~~t'i ~ ~ m O?.IT ~- amr Wm: ~ 1

.... 1 1 .

-I

'

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31"1lRf 2oo9 CfiT Ull ~ ~, ~ ~ cit 3 = 1 ifi ~ if ~ cnm ~,

cnr ft.imr fcfcRtrr f:1 ""i r~ 119 ('1 ~ :

urn urn ~ ~- ~~fulli ~-

~ 2,800 ~hi if 2,000

ct~4=cm1 ~-f.W:l 1,200 ~ 6,500

~~ 2,000 "EJCT:~riih~~ (-) 500 6,000

~: -0Cfl 3,000

'Ul1 6,000 fqf.•p~111 5,000

~ 4,000 10,000

16,000 16,000

1 ~ 2oo9 CfiT ~ ~ cit (1N ifi 1/5 'l1f1T ifi ~ R""ifr?\119<'1 m ~ m m cnr ~ ft;r:rr :

(i) ~ sllMllii iJi ~ 'l1f1T iJi ~ 6,000 ~- ~ I

Cio 1oo ~- em 3ifr?~f&<'1 ~ aw1 ifi ffi"Q: ~ fct<:rr ~ 1

(iii) fqf:il(IJfj Clif ~ ~ 4,500 ~- ~ I

(iv) 500 ~- ifi ~ ~ ~, ~ ~ ~ l1R ft¥rr ~ ~' ~ <ijii<'1H~{e'q

400~. ~~I

c v) ~ ~ "!filf em ¥ ~ ifi 115~ 'l1f1T oq; ifi ffi"Q: ~ ~ 1

~'"1{~iCfl'"1 ~' ~~@~1(i iJi ~ ~ n~ ~ 1filf CliT ~ fcrcRuT ~ I

PARTB (Financial Statements Analysis)

'lT1T ~

<~ ~ct(orf CfiT ~~Hqol)

17. · State any one limitation of Financial Statement Analysis.

fcrtfrc:r fqq{ofi ifi M~<'lt:~a, em fcfim ~ ~ cnr ~ ~ 1

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:;··

'

.. .

I ... '·"'

Under which type of activity will you-dassify 'Proceeds from Sale of I

Buildings' while preparing Cash Flow ·Statement ? . _, 1 - ~ ~ ~ ~ ~ ~ lcqq.t ~ -~ ~ lllt(f ·~' q;) ~ ~ ~ ; ~~~~>rem:~~~~?

lledemption of debentures would result in inflow, outflow or no flow of i eash ? Give your answer with reason. · 1 .:o1q::fi ~ WR ~ ~ q;r 3R1: 'Sii$, GflijT ~ 3l?-fCff q;)f ~ -~ ~ ? ~ · : ~ qjJ"{UT • ~ I

. '

• Prom the following information provided, prepare a comparative income statement for the period 2008 and 2009 :

2008 2009

Bales (Rs.) 6,00,000 8,00,000

Gross Profit 40% on Sales 50% on Sales

8

Administrative expenses 20% of Gross Profit . 15% of Gross Profit ,

Income Tax 50% 50%

· f.fi:o:tf~f&o ~ ~ 2008- 2009 q;r $1~f('¥44 ~ ~ ~ ~ :

~(~.)

~ 'ffi'q

5tfii~RCfl ~

2008 2009

6,00,000

~ 'q'\ 40%

~~q;r 20%

50%

8,00,000

~ 'q'\ 50%

~~q;r 15%

50%

A business has a curr~nt ratif of 3 : 1 and a quick ratio of. 1 : 2 : 1. If the working · capitid is · Rs. 1,80,000, calculate the total current liabilities and value· t1f stock.

From the given iriformation cai .. te the Stock turnover ratio :

, ;-2

.1

.

Sales : Rs. 2,00,000; GP : 25% on cost; Stock at the beginning is 1/3 of the stock at the end which was 30% of Sales. '2. !

('Gfi)

. . . . .

~ OlfcHilll q;r ~ ~ 3: 1 · ~ ~ ~ ~ ~ 1:2:1 ~I_ ~ ~ q:;,4~rh.1 ~ 1,so,ooo ~. ~, m ~ ·F"f 'ifRi ~ ~ ~ ~ ~ qft l'JURT ~ I

13

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<~) <tt 1ft ~ ~ ~ a:rrcm awrn Cb1 llURT ~ =

fcrnilf : 2,00,000 ~.; ~ "ffi'l1 : "ffiTRf CfiT 25%; ~ ~. ~

~ CfiT V3 it fcrnilf CfiT 30% 211 I

22. Assuming that the Debt-Equity ratio is 2, state giving reasons whether

this ratio would increase, decrease or remain unchanged in the

following cases : (Any four) 4

(a) Purchase of fixed asset on a credit of 2 months.

(b) Purchase of fixed asset on a long term deferred payment basis.

(c) Issue of new shares for cash.

(d) Issue of bonus shares.

(e) Sale of fixed asset at a loss of Rs. 3,000.

~ ~ q,1 ~-wmT awrn 2 ~ I f.p:;J ~fctlll if ~ ~ ~ f% ~

~ a$rr, WIT W-JqT 3i q ftq ctofl4 'Wn : (q;f{ TiiTf )

(Cfi) ~ ~ CfiT 2 ~ ~ 6'tll1: 'G\ ~ I

(~) ~ ~ CfiT ~ ~ ~ ~ 'TffiR 3ITt1R 'G\ ~

C7J) -;:ro: arm CfiT ~ f.rfJ:r.:1 1

<~) ~ arm CfiT f.rfJ:r.:1 1

(s) ~ ~ CfiT 3,000 ~. Cb1 mf.1 'G\ fcrnilf 1

23. From the following Balance Sheets provided prepare a Cash Flow

Statement as per AS-3 (revised) :

2008 2009 2008 2009

Amount Amount Amount Amount

Liabilities Rs. Rs. Assets Rs. Rs.

Share Capital 12,000 15,000 Furniture 5,000 8,000

P&L Account 5,000 6,000 Stock 6,000 4,000

Creditors 15,000 11,000 Debtors 10,000 8,000

Cash 11,000 12,000 .

32,000 32,000 32,000 32,000

A dividend of Rs. 3,000 was paid during the year 2008 - 09.

67/1 14

6

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:,.' .. ·'· ·!r '··

,.

; '

'-i,!­

'f':<'<-4" ... 4# ~.--....... ~~"· . ' -~·····

.

5,000

15,000

32,000

6,000

11,000

32~000 .. -. -2008- 09 -q- 3,000 ~. q;r ~: ~.-fcf;irr ~ ~

. ' ,c ·· · unting)

,~· ~.~';:·' f

6,000

10,000

11,000

4,000 i

8,00~

12,000 t-----+------:-1-"4• '

32,000 32,000

• i Lis any two specific areas of a:CCoUiltiD,g that the spreadsheet lends · ort to.

· Jt~"' t ~ ~ ~ ~ ~ ~ ~~*-' tt8t<nn ~ w t 1 . .

· are Master files and Index tiles ? r ~·.'··~) ~ (1tfT ~jS6qfUt4il ~ CRT ... t ?

•·•· '. _ .. l. · .lY explain the types of data proee~ 1. . ~-~;); 1llliRf '1>1 m. if \lq~l!~(( I

. +- t. lc~ the types of database at the back.end. ·t · . ! , " , -~ "CR sill~~ ~ 'SfCfiTU q;r cp'ffct;{ol ~ 1 .: i; . . : , l Explain the structure of 'Computerised Ac-ecttm.ting System'.

) ~~~ 8<9i4l"1 ~, qit ~ ~~$1~\( I . i

I

.···r

i l'

11· 15 i

P.T.O~ •, !

t I I

-~ -~··. ·.l ~

I '·.

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~·· »S. Calculate the formula on Excel for the following :

67/1

Dearness Allowance

44% on basic pay upto Rs. 10,000, minimum Rs. 2,000

35% on basic pay above Rs. 10,000, minimum Rs. 4,400

House Rent Allowance

Upto basic pay of Rs. 8,000

Rs. 8,001 - Rs. 15,000 basic pay

Above Rs. 15,000 basic pay

City Compensatory Allowance :

Rs. 2,000

Rs. 6,000

Rs. 9,000

10% of basic pay subject to a minimum of Rs. 1,000

f.1141f~fulo i6 ~ ~ 1R ~ ctt ~ ~ :

~'"" 10,000 ~. '(1q; i6 ~ ctR 'q\ 44%, ~ 2,000 ~.

10,000 ~. ~ WTCfi i6 . ~ ctR lR 35%, ~ 4,400 ~.

1tCfiR f4; (fqf IJfflT

8,000 ~. '(1q; i6 ~ ~ i6 fum: 8,001 ~. - 15,000 ~. '(1q; i6 ~ ctR i6 fum:

15,000 ~. ~ WTCfi i6 ~ ctR i6 fum:

-;pf{ ~'{fif '"" : ~ ctR CfiT 10%, ~ 1,000 ~.

16

2,000 ~.

6,000 ~.

9,000 ~.

3x2=6

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