ACCOUNTANCY

boImßH$Z
( Principles and Practice of Financial Accounting )
( {dŒmr` boImßH$Z Ho$ {g’m›V Edß Ï`dhma )
(320)
Time : 3 Hours ] [ Maximum Marks : 100
g_` : 3 K Q>o ] [ nyUm™H$ : 100

Note : (i) This Question Paper consists of two Sections, viz., ‘A’ and ‘B’.
(ii) All questions from Section ‘A’ are to be attempted.
(iii) Section ‘B’ has got more than one option. Candidates are required to
attempt questions from one option only.

{ZX}e : (i) Bg ‡ÌZ-nà _| Xmo I S> h¢—I S> "A' Edß I S> "~'ü&
(ii) I S> "A' Ho$ g^r ‡ÌZm| H$mo hb H$aZm h°ü&
(iii) I S> "~' _| EH$ go A{YH$ {dH$În h¢ü& narjm{W©`m| H$mo Ho$db EH$ {dH$În Ho$ hr ‡ÌZm| Ho$ CŒma XoZo h¢ü&

SECTION–A
I S>–A
1. Name the two situations with regard to balances while preparing the Bank
Reconciliation Statement. 1

~¢H$ g_mYmZ {ddaU ~ZmVo g_` eofm| Ho$ gÂ~›Y _| hmoZo dmbr Xmo pÒW{V`m| Ho$ Zm_ Xr{OEü&

2. What does ‘debenture’ include as per Section 2(12) of the Companies Act? 1

H$ÂnZr A{Y{Z`_ H$s Ymam 2(12) Ho$ AZwgma "G$UnÃ' _| ä`m-ä`m gpÂ_{bV h°?

3. State the position of Partnership Act, 1932 on admitting a person into

partnership. 1

gmPoXmar _| {H$gr Ï`{∫$ H$mo ‡doe XoZo Ho$ gÂ~›Y _| gmPoXmar A{Y{Z`_, 1932 H$s pÒW{V H$mo ÒnÔ>
H$s{OEü&

320/OSS/212C 2
 4. Pranaya and Gunakshi are partners but do not have any partnership deed.
There is dispute between the two on the following points. How will you deal with
them? 2
(i) Pranaya started giving full time to the business while Gunakshi comes
only once in a week. Pranaya demands salary @ R 6,000 per month.
(ii) Gunakshi gave to the firm R 60,000 as a loan and wants interest on the
amount @ 18% p.a., which is the market rate of interest.

‡U`m Am°a JwUmjr gmPoXma h¢ bo{H$Z CZH$m H$moB© gmPoXmar gßboI Zht h°ü& {ZÂZ {~›XwAm| na XmoZm| _| _V^oX
h°ü& Amn CZH$m g_mYmZ {H$g ‡H$ma go H$a|Jo?
(i) ‡U`m Ï`dgm` H$mo nyam g_` XoZo bJr h° O~{H$ JwUmjr g·mh _| EH$ ~ma AmVr h°ü& ‡U`m R 6,000
‡{V _mh doVZ H$s _mßJ H$a ahr h°ü&
(ii) JwUmjr Zo \$_© H$mo R 60,000 G$U Ho$ Í$n _| {XE Edß dh Bg am{e na 18% dm{f©H$ go „`mO
MmhVr h°, Omo {H$ ~mOma „`mO Xa h°ü&

5. Explain ‘recording of transactions’ as one of the components of computerised

accounting software. 2

H$Âfl`yQ>arH•$V boImßH$Z gm∞‚Q>do`a Ho$ EH$ KQ>H$ Ho$ Í$n _| "boZXoZm| H$m A{^boIZ' H$mo g_PmBEü&

6. Prepare Accounting Equation on the basis of the following : 2

(i) Ashish Ghosh started business with cash—R 40,000
(ii) Purchased furniture for cash—R 5,000
(iii) Purchased goods from Sonali—R 8,400
(iv) Paid for wages—R 1,200

{ZÂZ Ho$ AmYma na boImßH$Z g_rH$aU V°`ma H$s{OE :

(i) Amerf Kmof Zo R 40,000 H$s am{e go Ï`dgm` ‡maÂ^ {H$`m
(ii) \$ZuMa H$m ZH$X H´$` {H$`m—R 5,000

(iii) gmoZmbr go _mb IarXm—R 8,400

(iv) _OXyar H$m ^wJVmZ {H$`m—R 1,200

7. How does Trial Balance help in locating errors? Explain. 2

VbnQ> Aew{’`m| H$mo Ty>±T>Zo _| {H$g ‡H$ma ghm`H$ hmoVm h°? g_PmBEü&

320/OSS/212C 3 [ P.T.O.
 8. Explain the term ‘Capital Receipts’ by giving an example. 2

"ny±OrJV ‡m{·`m±' e„X H$mo CXmhaU XoH$a g_PmBEü&

9. What is ‘accounting voucher’? Name any two types of accounting vouchers. 2

"boImßH$Z ‡_mUH$' H$m AW© ~VmBEü& boImßH$Z ‡_mUH$ Ho$ {H$›ht Xmo ‡H$mam| Ho$ Zm_ Xr{OEü&

10. Enter the following transactions in the Journal of a trader : 4

2012

June 1 Purchased goods from Robin and paid by cheque—

R 7,200

” 6 Paid for the repairs of office furniture—R 540

” 11 Withdrew from bank for private use—R 1,800

” 20 Goods sold to Samuel on credit of R 12,500, allowed him

trade discount @ 10%

{ZÂZ boZXoZm| H$s EH$ Ï`mnmar Ho$ amoOZm_Mm _| ‡{d{Ô>`m± H$s{OE :

2012
OyZ 1 amo{~Z go _mb H$m H´$` {H$`m Am°a MoH$ go ^wJVmZ {H$`m—R 7,200

” 6 H$m`m©b` \$ZuMa H$s _aÂ_V Ho$ {bE ^wJVmZ {H$`m—R 540

” 11 ~¢H$ go {ZOr Cn`moJ Ho$ {bE Èn`o {ZH$mbo—R 1,800

” 20 goÂ`yAb H$mo R 12,500 H$m _mb CYma na ~oMm, CZH$mo Ï`mnm[aH$ Ny>Q>
Xr 10%

11. There are two accountants Siddhant and Nidan. Siddhant is of the view that
accounting has only advantages; while Nidan agrees with him that accounting
has many advantages but it has some limitations also. State any four
limitations of accounting in support of Nidan. 4

{g’m›V Am°a {ZXmZ Xmo boImH$ma h¢ü& {g’m›V H$m _mZZm h° {H$ boImßH$Z Ho$ Ho$db bm^ hr bm^ h¢; {ZXmZ
Cggo gh_V h° {H$ boImßH$Z Ho$ H$B© bm^ h¢ bo{H$Z BgH$s Hw$N> hm{Z`m± ^r h¢ü& {ZXmZ Ho$ _V Ho$ g_W©Z _|
boImßH$Z H$s {H$›ht Mma gr_mAm| H$m dU©Z H$s{OEü&

320/OSS/212C 4
12. State, in brief, the meaning of Dual Aspect Concept of Accounting. Give its
significance. 4

boImßH$Z H$s {¤njr` AdYmaUm Ho$ AW© H$mo gßjon _| g_PmBEü& BgHo$ _hŒd H$m CÑoI H$s{OEü&

13. Give two disadvantages of Cash Basis of Accounting and two disadvantages of
Accrual Basis of Accounting. 4

amoH$ãS> AmYm[aV boImßH$Z H$s Xmo hm{Z`m± VWm CnmO©Z AmYm[aV boImßH$Z H$s Xmo hm{Z`m± Xr{OEü&

14. Explain wrong totalling as errors of commission by giving an example. Show its
rectification by making Journal Entry. 4

boI Aew{’ Ho$ EH$ ‡H$ma "`moJ _| JbVr' H$mo CXmhaU XoH$a g_PmBEü& amoOZm_Mm ‡{d{Ô> H$a BgH$m emoYZ
^r {XImBEü&

15. What is meant by ‘shares issued at premium’? State the purposes for which
securities premium amount can be utilised. 4

"Aßem| Ho$ ‡r{_`_ na Omar H$aZo' H$m ä`m AW© h°? ‡{V^y{V ‡r{_`_ H$s am{e H$m Cn`moJ {H$Z C‘oÌ`m| Ho$
{bE {H$`m Om gH$Vm h°, ~VmBEü&

16. The accountant of M/s. Sanwariaji & Co. found that on 30th June, 2012 firm’s
bank balance as shown by Cash Book was not the same as was shown by the
bank statement. He compared the two and found the reasons of difference
which were as follows :
(i) Cheques of R 15,000 were deposited in the last week of June but of these
cheques of R 4,500 were cleared in the first week of July
(ii) A customer had directly deposited R 14,500 in firm’s account
(iii) Bank had paid insurance premium of R 6,400 as per the instructions of
the firm
(iv) There were bank charges of R 1,200 in the bank statement

Prepare Bank Reconciliation Statement as on 30th June, 2012 to show the

balance as per Pass Book while balance as per Cash Book was R 26,200. 4

320/OSS/212C 5 [ P.T.O.
 _¢0 gmßd[a`mOr Eo S> Hß$0 Ho$ boImH$ma Zo nm`m {H$ 30 OyZ, 2012 H$mo amoH$ãS> ~hr ¤mam Xem©`m J`m ~¢H$ eof
~¢H$ {ddaU ¤mam {XImE JE eof Ho$ g_mZ Zht h°ü& CgZo XmoZm| H$m {_bmZ {H$`m Am°a A›Va Ho$ H$maUm| H$m
nVm bJm`m Omo Bg ‡H$ma Wo :
(i) R 15,000 Ho$ MoH$ OyZ Ho$ Ap›V_ g·mh _| O_m H$am`o J`o Wo bo{H$Z CZ_| go R 4,500 Ho$ MoH$m|
H$m ^wJVmZ OwbmB© Ho$ ‡W_ g·mh _| ‡m· h˛Am
(ii) EH$ J´mhH$ Zo R 14,500 H$s am{e grYo \$_© Ho$ ImVo _| O_m H$am Xr
(iii) \$_© Ho$ {ZX}em| Ho$ AZwgma ~¢H$ Zo R 6,400 Ho$ ~r_m ‡r{_`_ H$m ^wJVmZ {H$`m
(iv) ~¢H$ {ddaU _| R 1,200 ~¢H$ ewÎH$ Ho$ Wo
nmg ~wH$ ¤mam eof Xem©Vo h˛E 30 OyZ, 2012 H$mo ~¢H$ g_mYmZ {ddaU V°`ma H$s{OE O~{H$ amoH$ãS> ~hr Ho$
AZwgma `h eof R 26,200 Wmü&

17. Sonu, one of the three partners in a firm, retired from business. His share in
profits and losses was 2
5
. His share in goodwill of the firm calculated on the
basis of 2 years’ purchase of superprofit was R 20,000 and the firm’s average
annual profit was R 40,000. In the same business, normal rate of earning profit
is 10%.
Calculate the amount of capital invested in the firm. 4

EH$ \$_© Ho$ VrZ gmPoXmam| _oß go EH$ gmoZy Ï`dgm` go godm{Zd•Œm h˛Amü& bm^-hm{Z _| dh 2 H$m ^mJrXma Wmü&
5
\$_© H$s ª`m{V _| CgH$m {hÒgm R 20,000 Wm {OgH$s JUZm A{Ybm^ Ho$ Xmo dfm] Ho$ H´$` na H$s JB© Wrü&
\$_© H$m Am°gV bm^ R 40,000 dm{f©H$ Wmü& Cgr ‡H$ma Ho$ Ï`dgm` _| gm_m›` ‡À`m` H$s Xa 10% h°ü&
\$_© H$s {Zdo{eV ny±Or H$s JUZm H$s{OEü&

18. V. B. Dream Home Construction Ltd. offered to public for subscription its
100000 shares of R 20 each at a discount of 10%. It received applications for
95000 shares. The amount was payable as follows :
On Application—R 10 per share
On Allotment—R 8 per share
Applications for 5000 shares were rejected on technical grounds and their
application money was returned. Remaining applicants were allotted in full.
The company received allotment money on all shares except on 500 shares
held by Rashid whose shares were forfeited. Forfeited shares were later
reissued at R 15 per share fully paid.
Make Journal Entries of the above transactions in the books of the company. 6

320/OSS/212C 6
 dr0 ~r0 S¥>r_ hmo_ H$m∞›ÒQ¥>äeZ {b0 Zo AnZo R 20 ‡{V Ho$ 100000 Aße A{^XmZ hoVw 10% ~≈>o na
OZgmYmaU H$mo ‡ÒVm{dV {H$Eü& BgHo$ nmg 95000 Aßem| Ho$ {bE AmdoXZ AmEü& am{e H$m ^wJVmZ Bg ‡H$ma
{H$`m OmZm Wm :
AmdoXZ na—R 10 ‡{V Aße
Am~ßQ>Z na—R 8 ‡{V Aße

5000 Aßem| Ho$ AmdoXZm| H$mo VH$ZrH$s AmYmam| na a‘ H$a {X`m J`m Am°a CZH$s AmdoXZ am{e bm°Q>m Xr JB©ü&
eof AmdoXH$m| H$mo nyam Am~ßQ>Z {H$`m J`mü& H$ÂnZr H$mo g^r Aßem| H$s Am~ßQ>Z am{e ‡m· hmo JB©ü& Ho$db aerX
Zo, Omo 500 Aßem| H$m YmaH$ Wm, ^wJVmZ Zht {H$`mü& CgHo$ Aßem| H$mo O„V H$a {b`m J`mü& O„V {H$E JE
Aßem| H$mo ~mX _| R 15 ‡{V Aße nyU©XŒm nwZÖ{ZJ©_Z H$a {X`m J`mü&
Cn`©w∫$ boZXoZm| H$s H$ÂnZr H$s nwÒVH$moß _| amoOZm_Mm ‡{d{Ô>`m± H$s{OEü&

19. A company wants to issue its 1000 8% debentures of R 100 each with a
condition stipulated to their redemption. Following are the cases of conditions
stipulated to redemption of debentures. Make Journal Entries for the issue of
debentures in these cases : 6
(i) Debentures are issued at R 100 and are redeemable at R 110
(ii) Debentures are issued at R 110 and are redeemable at R 100
(iii) Debentures are issued at R 90 and are redeemable at R 100
(iv) Debentures are issued at R 90 and are redeemable at R 110

EH$ H$ÂnZr AnZo R 100 ‡{V Ho$ 1000 8% G$UnÃm| H$m {ZJ©_Z CZHo$ emoYZ go OwãS>r eV© Ho$ gmW
H$aZm MmhVr h°ü& ZrMo G$UnÃm| Ho$ emoYZ go OwãS>r eV] Xr JB© h¢ü& BZ pÒW{V`m| _| G$UnÃm| Ho$ {ZJ©_Z H$s
amoOZm_Mm ‡{d{Ô> H$s{OE :
(i) G$UnÃm| H$m R 100 na {ZJ©_Z Am°a R 110 na emoYZ
(ii) G$UnÃm| H$m R 110 na {ZJ©_Z Am°a R 100 na emoYZ
(iii) G$UnÃm| H$m R 90 na {ZJ©_Z Am°a R 100 na emoYZ
(iv) G$UnÃm| H$m R 90 na {ZJ©_Z Am°a R 110 na emoYZ

20. A student of accountancy is confused when a Cash Book is prepared by a not

for profit organization, then why is a Receipts & Payments A/c prepared and
what is the difference between Cash Book and Receipts & Payments A/c. Help
him in removing this confusion by explaining the reason of preparing Receipts
& Payments A/c and giving differences beetween Receipts & Payments A/c and
Cash Book. 6

320/OSS/212C 7 [ P.T.O.
 boImemÛ H$m EH$ {d⁄mWu ^´{_V h° {H$ O~ EH$ J°a-bm^H$mar gßJR>Z amoH$ãS> ~hr V°`ma H$aVm h°, Vmo {\$a
‡m{· Edß ^wJVmZ ImVm ä`m| ~ZmVm h° VWm amoH$ãS> ~hr Am°a ‡m{· Edß ^wJVmZ ImVo _| ä`m A›Va h°ü& ‡m{· Edß
^wJVmZ ImVm ~ZmZo H$m H$maU ~VmH$a VWm ‡m{· Edß ^wJVmZ ImVm Am°a amoH$ãS> ~hr _| A›Va ~VmH$a CgHo$
^´_ H$mo Xya H$aZo _| ghm`Vm H$s{OEü&

21. From the following Trial Balance of A. B. & Co., prepare Trading and Profit &
Loss A/c for the year ending on 31st March, 2012 and the Balance Sheet as on
that date : 10
Trial Balance as on 31st March, 2012

Dr. Balances Amount Cr. Balances Amount

R R
Stock as on 01.04.2011 19,000 Capital 1,00,000
Purchases 1,02,000 Sales 1,75,000
Drawings 12,000 Creditors 24,500
Debtors 24,000 Discount Received 500
Wages 6,500 Loan (10% p.a.) 40,000
Insurance 4,000
Carriage Inward 1,500
Salary 8,000
Interest on Loan 2,400
Advertisement 4,000
Bad Debts 1,400
Cash in Hand and at Bank 8,000
Building 1,00,000
Computers 44,000
Service Charges of
Computers 3,200
3,40,000 3,40,000

Adjustments :
(i) Closing Stock was valued at R 12,000
(ii) Provision for Doubtful Debts to be made at 5% on Debtors
(iii) Outstanding Expenses were Wages R 1,500 and Insurance Premium was
paid for year ending 30th June, 2012
(iv) Loan was taken on 1st July, 2011
(v) Depreciate computers @ 20%

320/OSS/212C 8
 E0 ~r0 Eo S> Hß$0 Ho$ ZrMo {XE JE VbnQ> go df© g_m{· 31 _mM©, 2012 Ho$ {bE Ï`mnma Edß bm^-hm{Z
ImVm ~ZmBE VWm Cgr {V{W H$mo pÒW{V-{ddaU ^r ~ZmBE :
31 _mM©, 2012 H$mo g_m· df© Ho$ {bE VbnQ>

Zm_ eof am{e O_m eof am{e

R R
ÒQ>m∞H$ 01.04.2011 H$mo 19,000 ny±Or 1,00,000
H´$` 1,02,000 {dH´$` 1,75,000
AmhaU 12,000 boZXma 24,500
XoZXma 24,000 ~≈>m ‡m· h˛Am 500
_OXyar 6,500 G$U (10% dm{f©H$) 40,000
~r_m 4,000
Am›V[aH$ ^mãS>m 1,500
doVZ 8,000
G$U na „`mO 2,400
{dkmnZ 4,000
A‡mfl` G$U 1,400
hÒVÒW amoH$ãS> Edß ~¢H$ _| amoH$ãS 8,000
^dZ 1,00,000
H$Âfl`yQ>g© 44,000
H$Âfl`yQ>amoß H$m godm ewÎH$> 3,200

3,40,000 3,40,000

g_m`moOZmE± :

(i) Ap›V_ ÒQ>m∞H$ H$m _yÎ` R 12,000 AmßH$m J`m

(ii) XoZXmam| na 5% go gß{XΩY G$Um| Ho$ {bE ‡mdYmZ H$aZm h°

(iii) AXŒm Ï`` Wo—_OXyar R 1,500 VWm ~r_m ‡r{_`_ H$m ^wJVmZ df© g_m{· 30 OyZ, 2012 VH$
Ho$ {bE {H$`m J`m h°

(iv) G$U 1 OwbmB©, 2011 H$mo {b`m J`m

(v) H$Âfl`yQ>g© na 20% H$m Adj`U bJmZm h°

320/OSS/212C 9 [ P.T.O.
 OR / AWdm
Following is the Receipts & Payments A/c of Rural Traditional Sports Club for
the year ending on 31st March, 2012. Prepare Income & Expenditure A/c for
the year ended 31st March, 2012 and the Balance Sheet as on that date :

Receipts & Payments A/c

for the year ending on 31st March, 2012

Receipts Amount Payments Amount

R R

To Cash in Hand 6,400 By Tournament Expenses 4,200

” Subscription : ” Sports Material 6,800
2010–11 600 ” Fees of Coaches 8,000
2011–12 4,400 ” Refreshment 2,400
2012–13 300 5,300 ” Stationery 800
” Govt. Grant 20,000 ” Newspapers 600
” Donation 8,000 ” FD with Bank
” Sale of Old Newspapers 120 (30.09.2011 @ 10% p.a.) 10,000
” Sale of Old Furniture ” Maintenance of Ground 1,200
(cost R 500) 180 ” Cash in Hand 600
” Cash at Bank 1,400
” Furniture 4,000

40,000 40,000

Additional Information :

At the beginning of the year, the Club possessed Furniture of R 2,500;

Sports Material of R 7,600; Subscriptions in arrears at the beginning of
the year were R 1,000 and at the end of R 600.

Sports Material at the end was of R 2,400.

Depreciate Furniture @ 5% p.a.

320/OSS/212C 10
 ZrMo J´m_rU nmaÂn[aH$ Iob äb~ H$m 31 _mM©, 2012 H$mo g_m· df© H$m ‡m{· Edß ^wJVmZ ImVm {X`m
J`m h°ü& df© g_m{· 31 _mM©, 2012 Ho$ {bE Am`-Ï`` ImVm ~ZmBE VWm Bgr {V{W H$mo pÒW{V-{ddaU
V°`ma H$s{OE :

‡m{· Edß ^wJVmZ ImVm

df© g_m{· 31 _mM©, 2012 Ho$ {bE

‡m{·`m± am{e ^wJVmZ am{e

R R

hÒVÒW amoH$ãS> 6,400 Qy>Zm©_|Q> Ï`` 4,200

M›Xm : Iob H$m gm_mZ 6,800
2010–11 600 ‡{ejH$m| H$s \$sg 8,000
2011–12 4,400 ObnmZ 2,400
2012–13 300 5,300 ÒQ>oeZar 800
gaH$mar AZwXmZ 20,000 g_mMma-nà 600
XmZ am{e 8,000 ~¢H$ _| gmd{Y O_m
nwamZo g_mMma-nÃmoß H$m {dH´$` 120 (10% dm{f©H$ go 30.09.2011 H$mo) 10,000
nwamZo \$ZuMa H$m {dH´$` _°XmZ H$m aIaImd 1,200
(bmJV _yÎ` R 500) 180 hÒVÒW amoH$ãS> 600
~¢H$ _| amoH$ãS> 1,400
\$ZuMa 4,000

40,000 40,000

A{V[a∫$ gyMZm :

df© Ho$ ‡maÂ^ _| äb~ Ho$ nmg Wm \$ZuMa R 2,500 H$m, Iob Hy$X H$m gm_mZ R 7,600 H$m; df©
Ho$ ‡maÂ^ _| AXŒm M›Xm R 1,000 VWm df© Ho$ A›V _| R 600 Wmü&
df© Ho$ A›V _| Iob Hy$X H$m gm_mZ R 2,400 _yÎ` H$m Wmü&
\$ZuMa na 5% dm{f©H$ go Adj`U bJmZm h°ü&

320/OSS/212C 11 [ P.T.O.
22. Following is the Balance Sheet of Rakesh and Mukesh as on 31st March, 2012.
They share profits and losses in the ratio of 3 : 2 :

Balance Sheet of Rakesh and Mukesh

as on 31st March, 2012

Liabilities Amount Assets Amount

R R
Sundry Creditors 20,000 Cash at Bank 10,000
Mukesh’s Mother’s Loan 25,000 Debtors 25,000
General Reserve 15,000 Stock 19,000
Capitals : Investments 60,000
Rakesh 80,000 Plant and Machinery 30,000
Mukesh 60,000 1,40,000 Motor Vehicle 40,000
Furniture 16,000
2,00,000 2,00,000

The firm was dissolved on that date and following transactions took place :

(i) Assets were realised as :

Stock—R 20,000
Investments—R 65,000
Furniture—R 12,000
Plant and Machinery at a depreciation of 20%
Debtors—R 24,000

(ii) Motor Vehicle was taken away by Mukesh at a value of R 30,000. He

agreed to pay off his mother’s loan

(iii) Sundry Creditors were settled at a discount of 5%

(iv) Realisation expenses amounted to R 1,000

Prepare Realisation A/c, Partners’ Capital A/cs and Bank A/c to close the
books. 10

320/OSS/212C 12
 amHo$e Edß _wHo$e H$m 31 _mM©, 2012 H$mo pÒW{V-{ddaU {ZÂZ h°ü& do 3:2 Ho$ AZwnmV _| bm^-hm{Z H$m
{d^mOZ H$aVo h¢ :
amHo$e Am°a _wHo$e H$m pÒW{V {ddaU
31 _mM©, 2012 H$mo

Xo`VmE± am{e gÂn{Œm`m± am{e

R R
{d{^fi boZXma 20,000 ~¢H$ _| amoH$ãS> 10,000
_wHo$e H$s _mVmOr H$m G$U 25,000 XoZXma 25,000
gmYmaU gßM` 15,000 ÒQ>m∞H$ 19,000
ny±Or : {Zdoe 60,000
amHo$e 80,000 gß`›Ã Edß _erZar 30,000
_wHo$e 60,000 1,40,000 _moQ>a dmhZ 40,000
\$ZuMa 16,000
2,00,000 2,00,000

Cgr {V{W H$mo \$_© H$m g_mnZ h˛Am VWm {ZÂZ boZXoZ h˛E :

(i) gÂn{Œm`m| go dgybr Bg ‡H$ma h˛B© :

ÒQ>m∞H$—R 20,000
{Zdoe—R 65,000
\$ZuMa—R 12,000
gß`›Ã Edß _erZar na 20% Adj`U
XoZXma—R 24,000
(ii) _moQ>a dmhZ H$mo _wHo$e Zo R 30,000 _| bo {b`mü& dh AnZr _mVmOr Ho$ G$U H$mo MwH$Vm H$aZo Ho$
{bE ^r gh_V hmo J`m
(iii) {d{^fi boZXmam| H$m 5% ~≈>o na {hgm~ MwH$Vm H$a {X`m J`m
(iv) dgybr Ï`` R 1,000 Wo

\$_© Ho$ ImVm| H$mo ~›X H$aZo Ho$ {bE dgybr ImVm, gmPoXmam| Ho$ ny±Or ImVo VWm ~¢H$ ImVm ~ZmBEü&

320/OSS/212C 13 [ P.T.O.
 OR / AWdm
Amogh and Pranaya are partners in a firm sharing profits in the ratio of 4 : 3.
On 31st March, 2012 the position of the firm was as follows :
Balance Sheet of Amogh and Pranaya
as on 31st March, 2012

Liabilities Amount Assets Amount

R R

Bills Payable 12,000 Bank 8,000

Creditors 18,000 Debtors 21,600
Capitals : Less : Provision
Amogh 40,000 for Bad Debts 600 21,000
Pranaya 30,000 70,000 Stock 18,500
General Reserve 14,000 Plant and Machinery 32,000
Computers 24,000
Goodwill 10,500

1,14,000 1,14,000

On 1st April, 2012 Krishna was admitted in the firm as a partner. He was to get
2th share in the profits of the firm which he acquires equally from Amogh and
7
Pranaya. Other terms were as follows :

(i) Krishna will bring in R 40,000 as his share of capital and R 20,000 as
premium

(ii) Provision for Bad Debts on Debtors was to be raised to R 1,000 and 10%
depreciation was to be charged on computers

(iii) Stock was to be valued at R 22,000

Prepare Revaluation A/c, Partners’ Capital A/cs and Balance Sheet of the new
firm after Krishna’s admission.

320/OSS/212C 14
 A_moK Am°a ‡U`m EH$ \$_© _| gmPoXma h¢ Am°a bm^ H$m ~ßQ>dmam 4 : 3 Ho$ AZwnmV _| H$aVo h¢ü& 31 _mM©,
2012 H$mo \$_© H$s pÒW{V Bg ‡H$ma go Wr :
A_moK Am°a ‡U`m H$m pÒW{V {ddaU
31 _mM©, 2012 H$mo

Xo`VmE± am{e gÂn{Œm`m± am{e

R R

Xo` {dnà 12,000 ~¢H$ 8,000

boZXma 18,000 XoZXma 21,600
ny±Or : KQ>m : A‡mfl` G$Um| Ho$
A_moK 40,000 {bE ‡mdYmZ 600 21,000
‡U`m 30,000 70,000 ÒQ>m∞H$ 18,500
gm_m›` gßM` 14,000 gß`›Ã Edß _erZar 32,000
H$Âfl`yQ>a 24,000
ª`m{V 10,500

1,14,000 1,14,000

1 A‡°b, 2012 H$mo H•$ÓUm H$mo \$_© _| EH$ gmPoXma Ho$ Í$n _| ‡doe {X`mü& Cgo \$_© Ho$ bm^m| _| 2 H$m ^mJ
7
{X`m OmZm Wm Omo CgZo A_moK Am°a ‡U`m go ~am~a-~am~a ^mJ _| {b`mü& A›` eV] Bg ‡H$ma go Wt :
(i) H•$ÓUm R 40,000 AnZo ^mJ H$s ny±Or Ho$ bmEJm VWm R 20,000 ‡r{_`_ Ho$
(ii) XoZXmam| na A‡mfl` G$Um| Ho$ {bE ‡mdYmZ H$mo ~ãT>mH$a R 1,000 H$aZm Wm VWm H$Âfl`yQ>am| na 10%
go Adj`U bJmZm Wm
(iii) ÒQ>m∞H$ H$m _yÎ` R 22,000 {ZYm©[aV {H$`m J`m
nwZ_©yÎ`mßH$Z ImVm, gmPoXmam| Ho$ ny±Or ImVo ~ZmBE VWm H•$ÓUm Ho$ ‡doe Ho$ nÌMmV≤ H$s ZB© \$_© H$m
pÒW{V-{ddaU V°`ma H$s{OEü&

320/OSS/212C 15 [ P.T.O.
 SECTION–B
I S>–~
OPTION–I
{dH$În–I
( Analysis of Financial Statements )
( {dŒmr` {ddaUmoß H$m {dÌbofU )
23. How does ‘analysis of financial statements’ help the management? 1

"{dŒmr` {ddaUm| H$m {dÌbofU' ‡~›Y H$mo {H$g ‡H$ma go ghm`Vm ‡XmZ H$aVm h°?

24. State the meaning of ‘working capital turnover ratio’. Give the formula of
calculating ‘working capital turnover ratio’. 2

"H$m`©erb ny±Or AmdV© AZwnmV' H$m AW© ~VmBEü& "H$m`©erb ny±Or AmdV© AZwnmV' H$s JUZm H$m \$m∞_©ybm
Xr{OEü&

25. State the meaning of financing activities in reference to Cash Flow Statement.
Give two items of cash inflow from financing activities. 2

amoH$ãS> ‡dmh {ddaU Ho$ gßX^© _| {dŒmr` {H´$`mAm| H$m AW© ~VmBEü& {dŒmr` {H´$`mAm| go amoH$ãS> A›V‡©dmh H$s Xmo
_Xm| Ho$ Zm_ Xr{OEü&

26. From the following information, calculate ‘Cash Flow from operating activities’ : 4
Net Income for the year, 2011–12—R 1,20,000
Depreciation on Fixed Assets—R 40,000
Statement of Current Assets and Current Liabilities

Particulars 31.03.2011 31.03.2012

R R
Cash 1,40,000 1,30,000
Debtors 1,80,000 2,10,000
Inventories 3,00,000 2,80,000
Prepaid Expenses 18,000 14,000
Accounts Payable 1,16,000 1,00,000

320/OSS/212C 16
 {ZÂZ gyMZm go "n[aMmbZ {H´$`mAm| go amoH$ãS> ‡dmh' H$s JUZm H$s{OE :
2011–12 H$s ew’ Am`—R 1,20,000
ÒWm`r gÂn{Œm`m| na Adj`U—R 40,000

Mmby gÂn{Œm`m| Am°a Mmby Xo`VmAm| H$m {ddaU

{ddaU 31.03.2011 31.03.2012

R R
amoH$ãS> 1,40,000 1,30,000
XoZXma 1,80,000 2,10,000
ah{V`m 3,00,000 2,80,000
nyd©XŒm Ï`` 18,000 14,000
Xo` ImVo 1,16,000 1,00,000

27. (a) Given below is the Balance Sheet of M/s M. B. Ltd :

Balance Sheet of M/s M. B. Ltd.

Liabilities Amount Assets Amount

R R

Equity Share Capital 5,00,000 Net Fixed Assets 15,00,000

Preference Current Assets 12,50,000
Share Capital 5,00,000 Discount on Issue
Reserves 2,50,000 of Debentures 50,000
Profit for the year 2,50,000
10% Debenture 5,00,000
Current Liabilities 8,00,000

28,00,000 28,00,000

Calculate Return on Investment. 4

320/OSS/212C 17 [ P.T.O.
 ZrMoo _°0 E_0 ~r0 {b0 H$m pÒW{V-{ddaU {X`m J`m h° :

_°0 E_0 ~r0 {b0 H$m pÒW{V-{ddaU

Xo`VmE± am{e gÂn{Œm`m± am{e

R R

g_Vm Aße ny±Or 5,00,000 ew’ ÒWmB© gÂn{Œm`m± 15,00,000

nydm©{YH$ma Aße ny±Or 5,00,000 Mmby gÂn{Œm`m± 12,50,000
gßM` 2,50,000 G$UnÃm| Ho$ {ZJ©_Z na ~≈>m 50,000
df© H$m bm^ 2,50,000
10% G$Unà 5,00,000
Mmby Xo`VmE± 8,00,000

28,00,000 28,00,000

{d{Z`mo{OV ‡À`m` kmV H$s{OEü&

(b) Net Sales—R 2,40,000

Opening Stock—R 20,000
Closing Stock—R 30,000
Gross Profit—20% on cost
From the above given information, calculate Stock Turnover Ratio. 2

ew’ {dH´$`—R 2,40,000

‡mapÂ^H$ ÒQ>m∞H$—R 20,000
Ap›V_ ÒQ>m∞H$—R 30,000
gH$b bm^—bmJV na 20%
Cn`©w∫$ gyMZm Ho$ AmYma na ÒQ>m∞H$ AmdV© AZwnmV H$s JUZm H$s{OEü&

320/OSS/212C 18
 OPTION–II
{dH$În–II
( Elementary Cost Accounting )
( ‡mapÂ^H$ bmJV boImßH$Z )

23. What is Reorder Level of Stock? 1

"ÒQ>m∞H$ H$m nwZÖAmXoe ÒVa' H$m ä`m AW© h°?

24. List the operative policies that are formulated by management with the help of
cost accounting. 2
bmJV boImßH$Z H$s ghm`Vm go ‡~›YH$ H$m°Z-gr n[aMmbZ Zr{V`m± ~ZmVo h¢, CZH$s gy{M ~ZmBEü&

25. What are ‘direct expenses’? Give two examples of direct expenses. 2
"‡À`j Ï``' ä`m h¢? ‡À`j Ï`` Ho$ Xmo CXmhaU Xr{OEü&

26. Show the cost of Closing Stock by recording the following transactions in the
Stores Ledger of a firm using LIFO method : 4
2012
August 1 Opening Balance—350 units @ R 52 per unit
Receipts :
August 4 Purchase vide Order No. 35—450 units @ R 50 per unit
” 9 Purchase vide Order No. 40—350 units @ R 50 per unit
Issues :
August 6 Vide MR No. 18—600 units
” 16 Vide MR No. 24—420 units
EH$ \$_©, Omo {H$ LIFO `Wm "Ap›V_ AmdH$ ‡W_ OmdH$' n’{V H$m ‡`moJ H$aVr h°, Ho$ ÒQ>moa ImVm~hr _|
{ZÂZ boZXoZm| H$m A{^boIZ H$a Ap›V_ ÒQ>m∞H$ H$s bmJV Xem©BE :
2012
AJÒV 1 ‡mapÂ^H$ eof—350 BH$mB`m± R 52 ‡{V BH$mB© H$s Xa go
‡m{·`m± :
AJÒV 4 H´$` AmXoe gߪ`m 35—450 BH$mB`m± R 50 ‡{V BH$mB© H$s Xa go
” 9 H´$` AmXoe gߪ`m 40—350 BH$mB`m± R 50 ‡{V BH$mB© H$s Xa go
{ZJ©_Z :
AJÒV 6 gm_J´r A{YJ´hU gߪ`m 18—600 BH$mB`m±
” 16 gm_J´r A{YJ´hU gߪ`m 24—420 BH$mB`m±

320/OSS/212C 19 [ P.T.O.
27. From the following information, preapre Cost Sheet for the period ended on
31st March, 2012 : 6

Direct Material—R 1,40,000

Direct Wages—R 60,000

Direct Expenses—R 11,600

Factory Overheads—75% of Direct Wages

Office and Administrative Overheads—25% of Works Cost

Selling and Distribution Overheads—R 27,400

Cost of Opening Stock of Finished Goods—R 15,500

Cost of Closing Stock of Finished Goods—R 17,500

Profit on Cost—30%

31 _mM©, 2012 H$mo g_m· Ad{Y Ho$ {bE {ZÂZ{b{IV gyMZm go bmJV nà ~ZmBE :

‡À`j gm_J´r—R 1,40,000

‡À`j _OXyar—R 60,000
‡À`j Ï``—R 11,600
H$maImZm Cn[aÏ``—‡À`j _OXyar H$m 75%
H$m`m©b` Edß ‡emg{ZH$ Cn[aÏ``—H$maImZm bmJV H$m 25%
{dH´$` Edß {dVaU Cn[aÏ``—R 27,400
V°`ma _mb Ho$ ‡mapÂ^H$ ÒQ>m∞H$ H$s bmJV—R 15,500
V°`ma _mb Ho$ Ap›V_ ÒQ>m∞H$ H$s bmJV—R 17,500
bmJV na bm^—30%
HHH

320/OSS/212C 20 V13—8000×3