3RD VOLUME

Class 12 - Accountancy
Time Allowed: 3 hours Maximum Marks: 99

1. Give the heads under which the following items are shown in a company's Balance Sheet as per Schedule III, [3]
Part I of the Companies Act, 2013?
i. Mortgage Loan
ii. Patents
iii. Investments
iv. General Reserve
v. Bills Receivable and

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vi. 10% Debentures
2. Under what main heads and sub-heads, will the following items appear in the balance sheet of a company as per [3]
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Schedule III, Part I of the Companies Act, 2013
i. Mining rights
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ii. Encashment of employees earned leave payable on retirement
iii. Vehicles
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3. Under which major headings and sub-headings the following items will be presented in the Balance Sheet of a [3]
company as per Schedule III Part I of the Companies Act, 2013?
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i. Loans provided repayable on demand

ii. Goodwill
iii. Copyrights and Patents
iv. Cheques
v. General Reserve
vi. Goods acquired for trading, and
vii. 9% Debentures repayable after three years
4. Under what heads the following are shown in a Company’s Balance Sheet? [3]
i. Public Deposits
ii. Sinking Fund
iii. Office Equipment
iv. Prepaid Expenses
v. Outstanding Salaries
5. Milky Ltd. has the following balances on 1st April, 2022: [3]

General Reserve 4,50,000

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 Statement of Profit & Loss 2,00,000

During the year ended 31st March, 2023, it incurred a loss of ₹ 3,20,000. How would you show these items in
the Balance Sheet and notes to accounts?
6. Operating Cycle and the period when payment is made is given below. How will you classify the liability? [4]

Particulars (i) (ii) (iii) (iv) (v) (vi) (vii)

Operating Cycle (Months) 9 10 10 15 15 15 16

Expected period of payment of Trade Payables (Months) 10 12 14 12 13 18 15

7. How would you disclose the following items in the Balance Sheet of a Company: [4]
i. Discount/Loss on Issue of Debentures
ii. Premium on Redemption of Debentures
iii. Debit balance of Statement of Profit & Loss
iv. Term Loan from Bank
v. Loan repayable on demand
vi. Shares in S.B.I.
vii. Investments
viii. Interest Accrued on Investments
ix. Guarantees given by the Company

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8. Calculate Revenue from Operations, Other Income and Total Revenue for a non-financial company from the [4]
following information:
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Sales ₹ 12,00,000; Sales Return ₹ 2,00,000; Sale of Scrap ₹ 25,000; Interest on Fixed Deposits ₹ 30,000;
Dividend Earned ₹ 10,000.
9. The following are the Balance Sheets of J. Ltd. as at March 31, 2016 and 2017. Prepare a Comparative balance [4]
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sheet.
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31st March, 2017 31st March, 2016

Particulars Note No.
(₹) (₹)

I. Equity and Liabilities

1. Shareholders' Funds

(a) Share Capital 20,00,000 15,00,000

(b) Reserves and Surplus 3,00,000 4,00,000

2. Non-Current Liabilities

Long-term Borrowings 9,00,000 6,00,000

3. Current Liabilities

Trade Payables 3,00,000 2,00,000

Total 35,00,000 27,00,000

II. Assets

1. Non-Current Assets

(a) Fixed Assets:

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 -Tangible Assets 20,00,000 15,00,000

-Intangible Assets 9,00,000 6,00,000

2. Current Assets

- Inventories 3,00,000 4,00,000

- Cash and Cash Equivalents 3,00,000 2,00,000

Total 35,00,000 27,00,000

10. From the following information, prepare Comparative Statement of Profit & Loss: [4]

Particulars 31st March, 2023 31st March, 2022

Revenue from Operations ₹ 30,00,000 ₹ 24,00,000

Other Income ₹ 6,00,000 ₹ 4,00,000

Cost of Materials Consumed ₹ 10,00,000 ₹ 8,00,000

Changes in inventories of Finished Goods and Work-in-Progress ₹ 2,00,000 ₹ 1,00,000

Other Expenses (% of Cost of Revenue from Operations) 20% 20%

Tax Rate

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11.
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From the following Statement of Profit and Loss of RJ Ltd., prepare a Comparative Statement of Profit and Loss [4]
for the year ended 31st March, 2022:
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RJ Ltd.
Statement of Profit and Loss for the year ended 31st March, 2022

2021 - 22 2020 - 21
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Particulars Note No.

₹ ₹
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Revenue from Operations 20,00,000 15,00,000

Employee Benefit Expenses 8,00,000 4,00,000

Other Expenses 2,00,000 1,00,000

Tax Rate 50%

12. Prepare a Common Size Balance Sheet of X Ltd. from the following information: [4]

31.3.2023 31.3.2022

Current Assets 28.80 22.80

Non-Current Investments 1.80 1.20

Property, Plant and Equipment and Intangible Assets 41.40 36.00

Share Capital 30.00 30.00

Reserves & Surplus 12.00 7.20

Non-Current Liabilities 12.60 12.00

Current Liabilities 17.40 10.80

13. Prepare a Common size statement of Profit and Loss for the year ended 31st March, 2021 from the following [4]

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 informations:

2020 - 21 2019 - 20
Particulars
(₹) (₹)

Revenue from Operations 40,00,000 20,00,000

Purchase of Stock in trade 4,00,000 1,00,000

Other Expenses 6,00,000 3,00,000

Tax Rate 50%

14. From the following Balance Sheet of Rohit Ltd., prepare a Common Size Balance Sheet: [4]
Balance Sheet of Rohit Ltd.
(as at 31st March, 2023)

Particulars Note No. 31st March, 2023 31st March, 2022

I. Equity and Liabilities: (₹) (₹)

1. Shareholders' Funds:

(a) Share Capital 2,50,000 2,00,000

(b) Reserve and Surplus

2. Current Liabilities:
sir 80,000 60,000
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(a) Trade Payables 70,000 40,000

Total 4,00,000 3,00,000

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II. Assets:

1. Non-Current Assets:
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(a) Property, Plant and Equipment and Intangible Assets

(i) Property, Plant and Equipment 1,60,000 1,20,000

(ii) Intangible Assets 20,000 30,000

2. Current Assets:

(a) Inventories 80,000 30,000

(b) Trade Receivables 1,20,000 1,00,000

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

Total 4,00,000 3,00,000

15. From the following particulars from Rajeshwar Ltd., calculate Cash Flow from Financing Activities: [4]

Particulars 2006(Rs.) 2007(Rs.)

Equity Share Capital 6,00,000 10,00,000

18% Preference Share Capital 4,00,000 3,00,000

Securities Premium 1,00,000 2,60,000

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 14% Debentures 2,00,000 2,50,000

Discount on Debentures 5,000 6,000

Underwriting commission on the issue of shares - 20,000

Additional Information:
i. The dividend on preference shares and an interim dividend @ 15% were paid on equity shares on March 31,
2007.
ii. Preference shares were redeemed on March 31, 2007 at a premium of 5%. Such premium has been provided
out of profit.
iii. New shares and debentures were issued on March 31, 2007.
16. From the following information, calculate Cash Flow from Investing Activities: [4]

Particulars Closing Balances Opening Balances

₹ ₹

Machinery (At Cost) 10,00,000 9,50,000

Accumulated Depreciation 1,50,000 1,10,000

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Patents 2,00,000 3,00,000

Additional Information: s
i. During the year, machine costing ₹ 90,000 with accumulated depreciation of ₹ 60,000 was sold for ₹ 50,000.
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ii. Patents written off were ₹ 50,000 while a part of patents were sold at a profit of ₹ 40,000.
17. Calculate Cash Flow from Investing Activities from the following information: [4]
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Particulars 31st March, 2023 (₹) 31st March, 2022 (₹)

Investments In Land 13,00,000 3,00,000

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10% Long-term Investments 1,50,000 2,00,000

Plant and Machinery 1,40,000 1,20,000

Goodwill 4,00,000 2,15,000

Additional Information: A machine costing ₹ 35,000 (Depreciation provided thereon ₹ 15,000) was sold for ₹
35,000. Depreciation charged during the year was ₹ 45,000.
18. The Balance Sheet of A Ltd. as at 31-3-2023 and 31-3-2022 were as follows: [6]

Particulars Note No. 31.3.2023 (₹) 31.3.2022 (₹)

L EQUITY AND LIABILITIES:

(1) Shareholder’s Funds:

(a) Share Capital 60,000 50,000

(b) Reserve and Surplus 1 41,000 46,000

(2) Non-Current Liabilities:

Long-term Borrowings 25,000 20,000

(3) Current Liabilities:

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 (a) Trade Payables 12,000 10,000

(b) Short term Provision 2 17,000 20,000

TOTAL 1,55,000 1,46,000

II. ASSETS:

(1) Non-Current Assets:

(a) Property, Plant and Equipment and Intangible Assets

(i) Property, Plant and Equipment (Machinery) 1,00,000 90,000

(2) Current Assets:

{a) Inventory 24,000 20,000

(b) Trade Receivables 26,000 32,000

(c) Cash & Cash Equivalents 5,000 4,000

TOTAL 1,55,000 1,46,000

Notes:

(1) Reserve & Surplus:

General Reserve
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8,000
31.3.2023 (₹)

5,000
31.3.2022 (₹)
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Profit & Loss Balance 33,000 41,000

41,000 46,000
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(2) Short term Provision:

Income Tax Provision 17,000 20,000

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Additional Information:
i. Depreciation written off on machinery was ₹ 18,000.
ii. Interest paid on Long-term Borrowings amounted to ₹ 3,000.
iii. Income tax of ₹ 15,000 has been paid.
Prepare a Cash-Flow Statement.
19. Cash flow from operating activities of Starlineline Ltd. for the year ended 31.03.2019 was ₹ 18,000. The [6]
Balance Sheet along with notes to accounts of Starline Ltd. as at 31-03-2019 is given below:
Starline Ltd.
Balance Sheet as at 31st March, 2019

Note
Particulars 31-3-2019 (₹) 31-3-2018 (₹)
No.

I. Equity and Liabilities:

(1) Shareholders Funds

(a) Share capital 18,00,000 10,00,000

(b) Reserves and Surplus 1 50,000 40,000

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(2) Non-current liabilities

Long term borrowing 2 1,00,000 4,00,000

(3) Current liabilities

Short term provisions 3 2,50,000 3,60,000

Total 22,00,000 18,00,000

II. Assets:

(1) Non-current Assets

Fixed Assets

(i) Tangible assets 4 14,00,000 10,00,000

(ii) Intangible assets 5 1,80,000 70,000

(2) Current Assets

(a) Current Investments 30,000 1,90,000

(b) Trade Receivables 2,90,000 3,10,000

(c) Cash and cash equivalents

Total
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3,00,000

22,00,000
2,30,000

18,00,000
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Notes to Accounts

Particulars 31-3-2019 (₹) 31-3-2018 (₹)

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1. Reserves & Surplus 50,000 40,000

Surplus (balance in statement of profit & loss) 50,000 40,000

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2. Long term borrowing

8% Debentures 1,00,000 4,00,000

1,00,000 4,00,000

3. Short term provisions

Provision for Tax 2,50,000 3,60,000

2,50,000 3,60,000

4. Tangible Assets

Plant & Machinery 15,20,000 10,90,000

Less Accumulated Depreciation (1,20,000) (90,000)

14,00,000 10,00,000

5. Intangible Assets:

Goodwill 1,80,000 70,000

1,80,000 70,000

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 You are given the following additional information:
a. A machinery of the book value of ₹ 40,000 (depreciation provided thereon ₹ 12,000) was sold at a loss of ₹
6,000.
b. 8% debentures were redeemed on 1st July 2018.
Prepare Cash Flow Statement.
20. From the following Balance Sheets of Tanuj Fashions Ltd., prepare a Cash Flow Statement:- [6]

Particulars Note No 31.3.2023 (₹) 31.3.2022 (₹)

I. EQUITY AND LIABILITIES:

(1) Shareholder’s Funds:

(a) Share Capital 1,50,000 1,20,000

(b) Reserve & Surplus 1,78,000 75,000

(2) Non-Current Liabilities:

Long-term Borrowings 1 ---- 50,000

(3) Current Liabilities:

(a) Trade Payables

(b) Short term Provision (Provision for Tax)

sir 31,500

42,000
67,000

30,000
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TOTAL 4,01,500 3,42,000

II. ASSETS:
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(1) Non-Current Assets:

(a) Property, Plant and Equipment and Intangible Assets:

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(i) Property, Plant and Equipment 2 2,08,000 1,40,000

(ii) Intangible Assets 3 35,000 20,000

(2) Current Assets:

(a) Inventory 1,05,000 1,20,000

(b) Trade Receivables 33,500 37,000

(c) Cash & Cash Equivalents 20,000 25,000

TOTAL 4,01,500 3,42,000

Note;

(1) Long-term Borrowing: 31.3.2023 (₹) 31.3.2022 (₹)

15% Debentures ----- 50,000

(2) Property, Plant and Equipment:

Building 80,000 1,00,000

Plant & Machinery 1,28,000 40,000

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 2,08,000 1,40,000

(3) Intangible Assets:

Goodwill 35,000 20,000

Additional Information:-

Contingent Liability: 31.3.2023 (₹) 31.3.2022 (₹)

I.
Proposed Dividend 15,000 12,000

II. Depreciation of ₹ 10,000 was provided on Plant & Machinery.

III. Gain on sale of a part of Building ₹ 25,000.
IV. Debentures were redeemed on 1 st April, 2022.
V. Provision for Tax made during the year ₹ 50,000.
21. Following is the balance sheet of M.M. Ltd as on 31st March, 2023. [6]

Note 31st March, 2023 31st March, 2022

Particulars
No. (₹) (₹)

I. EQUITY AND LIABILITIES

1. Shareholders' Funds

(a) Share Capital

(b) Reserves and Surplus

sir
1
5,00,000

2,00,000
4,00,000

(50,000)
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2. Non-Current Liabilities
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Long-term Borrowings 2 4,50,000 4,50,000

3. Current Liabilities
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(a) Short-term Borrowings 3 1,50,000 1,00,000

(b) Short-term Provisions 4 70,000 90,000

Total 13,70,000 9,90,000

II. ASSETS

1. Non-current Assets

(a) Property, Plant and Equipment and Intangible

Assets:

(i) Property, Plant and Equipment 5 10,03,000 7,20,000

(ii) Intangible Assets 6 20,000 30,000

(b) Non-current Investments 1,00,000 75,000

2. Current Assets

(a) Current Investments 50,000 60,000

(b) Inventories 7 1,07,000 45,000

(c) Cash and Cash Equivalents 90,000 60,000

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 Total 13,70,000 9,90,000

Notes to Accounts

Particulars 31st March, 2023 (₹) 31st March,2022 (₹)

Reserves and Surplus

1. 2,00,000 (50,000)
Surplus i.e. Balance in Statement of Profit and Loss

Long-term Borrowings
2. 4,50,000 4,50,000
12% Debentures

Short-term Borrowings
3. 1,50,000 50,000
Bank Overdraft

Current Maturities of Long-term Debts (12% Debentures) ____ 50,000

1,50,000 1,00,000

Short-term Provisions
4. 70,000 90,000
Provision for Tax

Tangible Assets
12,03,000 8,21,000
5. Machinery
(-) Accumulated Depreciation sir (2,00,000)

10,03,000
(1,01,000)

7,20,000
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Intangible Assets
6. 20,000 30,000
Goodwill
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Inventories
7. 1,07,000 45,000
Stock-in-trade
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Additional Information
i. 12% debentures were redeemed on 31st March, 2023.
ii. Tax ₹ 70,000 was paid during the year.
Prepare cash flow statement.
22. From the following balance sheet of BCR Ltd as at 31st March, 2010 and 2011. Prepare a cash flow statement. [6]

Note 31st March, 2010 31st March, 2011

Particulars
No. Amt (Rs) Amt (Rs)

I.EQUITY AND LIABILITIES

1.Shareholders' Funds

(a)Equity Share Capital 5,00,000 7,00,000

(b)Reserves and Surplus(Balance in statement of

2,00,000 3,50,000
profit and loss)

2.Current Liabilities

(a)Short-term Borrowings (Bank loan) 1,00,000 50,000

(b)Trade Payable (Creditors) 55,000 52,000

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 (c)Short-term Provisions 1 80,000 1,20,000

Total 9,35,000 12,72,000

II.ASSETS

1.Non-current Assets

(a)Fixed Assets 2 6,00,000 5,95,000

(b)Non-current Investment - 1,00,000

2.Current Assets

(a)Trade Receivables (Debtors) 80,000 1,47,000

(b)Inventories (Stock) 55,000 1,30,000

(c) Cash and Cash Equivalents (Bank) 2,00,000 3,00,000

Total 9,35,000 12,72,000

Notes to Accounts

Particulars 31st March, 2010 (Rs) 31st March, 2011(Rs)

1.Short-term Provisions

Provision for Tax 30,000

sir 50,000
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Proposed Dividend 50,000 70,000

80,000 1,20,000
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2.Fixed Assets

Tangible (Equipment) 5,00,000 5,00,000

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Intangible (Patents) 1,00,000 95,000

6,00,000 5,95,000

Additional Information
During the year equipment costing Rs.1,00,000 was purchased. Loss on sale of equipment amounted to
Rs.12.000. Rs.18,000 depreciation was charged on equipment.
23. Prepare Cash Flow Statement (as per AS-3 (Revised)) for the year ended 31st March, 2023 from the following [6]
Balance Sheet as at 31st March, 2023:
Fearless India Ltd.
BALANCE SHEET as at 31st March, 2023

Note 31st March, 2023 31st March, 2022

Particulars
No. (₹) (₹)

I. EQUITY AND LIABILITIES

1. Shareholders' Funds

(a) Share Capital (Equity Share Capital) 6,00,000 4,00,000

(b) Reserves and Surplus (Statement of Profit and 2,00,000 1,00,000

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 Loss)

2. Non-Current Liabilities

Long-term Borrowings 1,00,000 1,00,000

3. Current Liabilities

(a) Short-term Borrowings ____ 1,10,000

(b) Trade Payables (Creditors) 45,000 60,000

(c) Short-term Provisions 70,000 40,000

Total 10,15,000 8,10,000

II. ASSETS

1. Non-Current Assets

(a) Property, Plant and Equipment and Intangible

Assets:

(i) Property, Plant and Equipment 6,00,000 6,00,000

(ii) Intangible (Patents)

(b) Non-current Investments

sir 45,000

75,000
50,000

____
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2. Current Assets

(a) Inventories 15,000 10,000

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(b) Trade Receivables (Debtors) 1,95,000 1,20,000

(c) Cash and Cash Equivalents (Cash) 85,000 30,000

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Total 10,15,000 8,10,000

Notes to Accounts

Particulars 31st March, 2023 (₹) 31st March, 2022 (₹)

1. Short-term Borrowings

Current Maturities of Long-term Debts ____ 1,00,000

Bank Loan ____ 10,000

____ 1,10,000

2. Short-term Provisions

Provision for Tax 70,000 40,000

Note: Dividend proposed for the years ended 31st March, 2022 and 2023 are ₹ 60,000 and ₹ 80,000 respectively.
Additional Information:
During the year 2022-23:
i. Building was purchased for ₹ 75,000.
ii. An old building, book value of which was ₹ 63,000, was sold at a loss of ₹ 5,000.
iii. Tax provided during the year was ₹ 80,000.

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 sir
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