Series : W4YXZ SET ~ 3

-
Q.P. Code 67/4/3
Roll No.
- -
-
Candidates must write the Q.P. Code
on the title page of the answer-book.

(I) - 39
Please check that this question paper contains 39 printed pages.
(II) - - - -
Q.P. Code given on the right hand side of the question paper should be
written on the title page of the answer-book by the candidate.
(III) - 34
Please check that this question paper contains 34 questions.
(IV) , -
Please write down the Serial Number of the question in the
answer-book at the given place before attempting it.
(V) - 15 -
10.15 10.15 10.30 -
-
15 minute 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 candidates will read the question paper only and will not
# write any answer on the answer-book during this period.

ACCOUNTANCY
3 80
Time allowed : 3 hours Maximum Marks : 80

67/4/3 #1# P.T.O.

(i) - 34
(ii) -
(iii)
(iv)
I:
II :
(v) 1 16 27 30
1
(vi) 17 20 31 32 -
3
(vii) 21, 22 33 - -I
4
(viii) 23 26 34 - -II
6
(ix) - ,

1. 2:3 -

3,00,000 6,00,000
1
(A) 30,00,000
(B) 20,00,000
(C) 15,00,000
(D) 10,00,000

67/4/3 #2#
General Instructions :
Read the following instructions carefully and follow them :
(i) This question paper contains 34 questions. All questions are compulsory.
(ii) This question paper is divided into two parts Part A and Part B.
(iii) Part A is compulsory for all candidates.
(iv) Part B has two options. Candidates have to attempt only one of the given
options.
Option I : Analysis of Financial Statements
Option II : Computerised Accounting
(v) Questions number 1 to 16 (Part A) and Questions number 27 to 30 (Part B) are
multiple choice questions. Each question carries 1 mark.
(vi) Questions number 17 to 20 (Part A) and Questions number 31 and 32 (Part B)
are short answer type questions. Each question carries 3 marks.
(vii) Questions number 21, 22 (Part A) and Question number 33 (Part B) are Long
answer type-I questions. Each question carries 4 marks.
(viii) Questions number 23 to 26 (Part A) and Question number 34 (Part B) are Long
answer type-II questions. Each question carries 6 marks.
(ix) There is no overall choice. However, an internal choice has been provided in few
questions in each of the parts.

PART A
(Accounting for Partnership Firms and Companies)

1. Rakesh and Somesh were partners in a firm sharing profits and losses in
the ratio of 2 : 3. Moksh was admitted as a new partner for th share in
the profits of the firm. Moksh brought 3,00,000 as his share of capital
and
goodwill was : 1
(A) 30,00,000
(B) 20,00,000
(C) 15,00,000
(D) 10,00,000

67/4/3 #3# P.T.O.

2. , 1 , 2024 30,00,000
10%
31 , 2024 5,25,000
1
(A) 4,75,000 (B) 3,00,000
(C) 2,00,000 (D) 1,00,000

3.

? 1
(A) (B)
(C) (D)
4. , 8:7:5 -
1 , 2023 5,00,000
31 , 2024
2,15,000
1
(A) 80,000 (B) 70,000
(C) 50,000 (D) 42,500
5. 4:3 -
5,00,000
10% 4,00,000
1
(A) 90,00,000 (B) 40,00,000
(C) 50,00,000 (D) 10,00,000

6. 5:3 -

8,00,000 7,00,000
1
(A) 3,75,000 (B) 3,00,000
(C) 6,00,000 (D) 15,00,000

67/4/3 #4#
2. Eklavya, Fateh and Girish entered into a partnership firm on
1st January, 2024 with capitals of 30,00,000 each. The partnership deed
provided for interest on capital @ 10% per annum. The firm earned a net
profit of 5,25,000 for the year ended 31st March, 2024. The amount of
1
(A) 4,75,000 (B) 3,00,000
(C) 2,00,000 (D) 1,00,000
3.

The above statement highlights which of the following feature of

partnership ? 1
(A) Agreement (B) Business
(C) Sharing of profit (D) Mutual agency
4. Reema, Meesha and Shikha were partners in a partnership firm sharing
profits and losses in the ratio of 8 : 7 : 5. On 1st October, 2023, Reema
advanced a loan of 5,00,000 to the firm. There is no partnership deed.
st March, 2024 before charging
2,15,000. The amount of profit
: 1
(A) 80,000 (B) 70,000
(C) 50,000 (D) 42,500
5. Neeru and Pooja were partners in a partnership firm sharing profits and
losses in the ratio of 4 : 3. The firm earned average profits of 5,00,000
during the last few years. The normal rate of return in a similar business
is 10%. The average super profits of the firm were 4,00,000. The
amount of capital employed by the firm was : 1
(A) 90,00,000 (B) 40,00,000
(C) 50,00,000 (D) 10,00,000
6. Kabir and Lara were partners in a firm sharing profits and losses in the
th
ratio of 5 : 3. Mark was admitted as a new partner for share in the
th
profits of the firm. Mark was to bring of the combined capital of
Kabir and Lara after all adjustments are carried out. The capitals of
Kabir and Lara after all adjustments were 8,00,000 and 7,00,000
respectively. The capital brought by Mark was : 1
(A) 3,75,000 (B) 3,00,000
(C) 6,00,000 (D) 15,00,000

67/4/3 #5# P.T.O.

7. 3:2 - ,
10,00,000 9,00,000
, 12 : 8 : 5
1
(A) 3:2 (B) 1:1
(C) 2:3 (D) 10 : 9

8. 10 1,00,000 10%
3,00,000

1
(A) 22,00,000
(B) 33,00,000
(C) 11,00,000
(D) 20,00,000

9. ( ) 1
(A)
(B)
(C)
(D)

( )
1
(A)
(B)
(C)
(D)

67/4/3 #6#
7. Prakhar and Rajan were partners in a firm sharing profits and losses in
the ratio of 3 : 2 with capitals of 10,00,000 and 9,00,000 respectively.
th
Siddharth was admitted as a new partner for share in the profits of
the firm. The new profit sharing ratio between Prakhar, Rajan and
Siddharth was agreed at 12 : 8 : 5. The sacrificing ratio of Prakhar and
Rajan will be : 1
(A) 3:2 (B) 1:1
(C) 2:3 (D) 10 : 9

8. Diksha Ltd. invited applications for issuing 1,00,000 equity shares of 10

each at a premium of 10%. The whole amount was payable on
application. Applications were received for 3,00,000 equity shares. The
company decided to allot the shares on pro-rata basis to all the
applicants. The amount refunded by the company was : 1
(A) 22,00,000 (B) 33,00,000
(C) 11,00,000 (D) 20,00,000

9. (a) : 1
(A) any time during the life of the company.
(B) only at the time of winding up of the company.
(C) to issue fully paid bonus shares.
(D) to provide for premium on the redemption of preference
shares.

OR

(b) An offer of securities or invitation to subscribe securities to a select

group of persons is called : 1

(A) Sweat equity

(B) Employee Stock Option Plan

(C) Private placement

(D) Buy-back of shares

67/4/3 #7# P.T.O.

10. (A) : -
-
(R) : ,
1
(A) (A) (R) (R), (A)

(B) (A) (R) , (R), (A)

(C) (A) , (R)

(D) (A) (R)

11. , - -
1,00,000

1
(A)
(B)
(C)
(D)

12. ( ) 1 , 2023 100 7%

5% 31 , 2024 1,00,000,
- ,
________ 1

(A) 10,00,000 (B) 20,00,000

(C) 19,00,000 (D) 1,00,000

( ) 1 , 2023 100 2,00,000, 8%

10%
30 31 31 , 2024 1
(A) 16,00,000 (B) 14,40,000
(C) 8,00,000 (D) 7,20,000

67/4/3 #8#
10. Assertion (A) :
Appropriation Account and not to Profit and Loss Account.
Reason (R) : f profit, it is not a
charge against profits.
Choose the correct option from the following : 1
(A) Both Assertion (A) and Reason (R) are correct and Reason (R) is
the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct, but Reason (R) is
not the correct explanation of Assertion (A).
(C) Assertion (A) is correct, but Reason (R) is incorrect.
(D) Both Assertion (A) and Reason (R) are incorrect.

11. White, Shaun and Todd were partners in a firm sharing profits and
losses equally. 1,00,000 to the firm.

loan will be : 1
(A) nt
(B) Bank account
(C) Realisation account
(D)

12. (a) Shivalik Ltd. issued 7% debentures of 100 each at a discount of

5% on 1st April, 2023. Discount on issue of debentures, 1,00,000
was completely written off through Statement of Profit and Loss on
31st March, 202
was credited with ____________. 1
(A) 10,00,000 (B) 20,00,000
(C) 19,00,000 (D) 1,00,000

OR
(b) Keya Ltd. issued 2,00,000, 8% debentures of 100 each at 10%
discount on 1st April, 2023. Interest is payable half-yearly on
30th September and 31st March every year. Interest written off on
31st March, 2024 was : 1
(A) 16,00,000 (B) 14,40,000
(C) 8,00,000 (D) 7,20,000
67/4/3 #9# P.T.O.
13. ( ) , 4:3:2 -
-
5:3 1

(A) (B) (C) (D)

( ) , 3:2:1 -

40,00,000
45,00,000
1

(A) 5,00,000 (B) 20,00,000

(C) 15,00,000 (D) 10,00,000

14. ( ) , 5:3:2 -
30 , 2024
31
31 , 2024
24,00,000 1 , 2024
30 , 2024 15,00,000 31 , 2024
2,40,000 1
(A) 11,250 (B) 70,000
(C) 45,000 (D) 22,500

( ) , 3:2:1 -
31 12 ,
2024

6,00,000 1
(A) 20,000 (B) 30,000
(C) 40,000 (D) 50,000

67/4/3 # 10 #
13. (a) Tavish, Umesh and Varun were partners in a firm sharing profits
and losses in the ratio of 4 : 3 : 2. Tavish retired. Umesh and Varun
decided to share profits and losses in future in the ratio of 5 : 3.
The gaining share of Umesh will be : 1

(A) (B) (C) (D)

OR
(b) Asit, Sonu and Hina were partners in a firm sharing profits and
losses in the ratio of 3 : 2 : 1. Asit retired and the balance in his
capital account after making necessary adjustments on account of
reserves and revaluation of assets and liabilities was 40,00,000.
Sonu and Hina agreed to pay him 45,00,000 in full settlement of
his claim. The value of goodwill of the firm was : 1
(A) 5,00,000 (B) 20,00,000
(C) 15,00,000 (D) 10,00,000

14. (a) Ajit, Biswas and Chitra were partners in a firm sharing profits and
losses in the ratio of 5 : 3 : 2. Biswas died on 30th September, 2024.
The firm closes its books on 31st
of profits till the date of death from the last Balance Sheet date,
was to be calculated on the basis of sales. Sales for the year
ended 31st March, 2024 amounted to 24,00,000 and that from
1st April, 2024 to 30th September, 2024 amounted to 15,00,000.
The profits for the year ended 31st March, 2024 were 2,40,000.
1
(A) 11,250 (B) 70,000
(C) 45,000 (D) 22,500
OR
(b) Isha, Julie and Kavita were partners in a firm sharing profits and
losses in the ratio of 3 : 2 : 1. The firm closes its books on
31st March every year. On 12th June, 2024, Kavita died. Her share
in the profits of the firm from the last Balance Sheet till the date of

6,00,000
of her death was : 1
(A) 20,000 (B) 30,000
(C) 40,000 (D) 50,000

67/4/3 # 11 # P.T.O.
15. ,
________ 1
(A) (B)

(C) (D)

16. ( ) 1 , 2024 100 20,000, 11%

10% , 10%
1

(A) 2,00,000 (B) 4,00,000

(C) 20,00,000 (D) 40,00,000

( )
________ 90% 1
(A) (B)
(C) (D)

17. , 9:8:7 -
1 , 2024 - 7:9:8
31 , 2024
(i) 24,00,000

(ii) - 12,00,000

42,00,000
6,00,000
-

67/4/3 # 12 #
15. That portion of the called-up capital which has been actually received
from the shareholders is called : 1
(A) Issued Capital (B) Reserve Capital
(C) Paid-up Capital (D) Nominal/Registered Capital

16. (a) On 1st April, 2024, Bright Ltd. issued 20,000, 11% debentures of
100 each at a premium of 10%, redeemable at a premium of 10%.
Loss on issue of debentures was : 1
(A) 2,00,000 (B) 4,00,000
(C) 20,00,000 (D) 40,00,000
OR
(b) Minimum subscription for allotment of shares as per Securities
and Exchange Board of India (SEBI) guidelines cannot be less than
90% of __________ capital. 1
(A) Reserve (B) Issued
(C) Nominal/Registered (D) Subscribed

17. Aman, Suman and Tanvi were partners in a firm sharing profits and
losses in the ratio of 9 : 8 : 7. They decided to share future profits and
losses in the ratio of 7 : 9 : 8 with effect from 1st April, 2024. Their
Balance Sheet as at 31st March, 2024 showed :

(i) Contingency Reserve of 24,00,000.

(ii) Credit Balance of 12,00,000 in Profit and Loss Account.

Goodwill of the firm was valued at 42,00,000 and Revaluation of assets

and liabilities resulted in a loss of 6,00,000. The partners did not want
to distribute the Contingency Reserve and the Balance of the Profit and
Loss Account. They also decided that revalued values of assets and
liabilities were not to be recorded in the books.

Pass a single adjustment entry to give effect to the above. Show your
workings clearly. 3

67/4/3 # 13 # P.T.O.
18. 7:3 -
31 , 2024
31 , 2024

() ()
- 5,00,000 50,00,000

25,00,000

1 , 2024 ,

(i) 44,00,000

(ii) 25,00,000
-
3

19. ( ) 40,00,000
5,00,000
36,00,000 100 7% 20%

( ) 50,00,000
6,00,000
100 46,000, 8% 10%

67/4/3 # 14 #
18. Vishal and Pulkit were partners in a firm sharing profits and losses in
the ratio of 7 : 3. The following is the extract of their Balance Sheet as at
31st March, 2024.

Balance Sheet of Vishal and Pulkit as at 31st March, 2024

Amount Amount
Liabilities Assets
( ) ( )
Investment Fluctuation Fund 5,00,000 Investments 50,00,000
Workmen Compensation Fund 25,00,000

On 1st April, 2024, Tarun was admitted as a new partner for th share
in the profits of the firm on the following terms :
(i) Market value of investments was 44,00,000.
(ii) Claim on account of Workmen Compensation was estimated at
25,00,000.
Pass necessary journal entries for treatment of Investment Fluctuation
Fund and Workmen Compensation Fund
admission. 3

19. (a) Mallark Ltd. purchased assets of book value 40,00,000 and took
over liabilities of 5,00,000 from Naroha Ltd. It was agreed that
the purchase consideration, 36,00,000 be paid by issuing 7%
debentures of 100 each at a premium of 20%.
Record the journal entries in the books of Mallark Ltd. for the
above transactions. 3
OR

(b) Sunlock Ltd. purchased assets of book value 50,00,000 and took
over liabilities of 6,00,000 from Moondock Ltd. It paid the
purchase consideration by issue of 46,000, 8% debentures of
100 each at a discount of 10%.
Record the journal entries in the books of Sunlock Ltd. 3

67/4/3 # 15 # P.T.O.
20. ( ) 1 , 2024 80,00,000 60,00,000

6,00,000
4,00,000
10%
3,50,000
31 , 2024 6,50,000
31 , 2024 -
3

( ) 5:3 -
1 , 2023 25,00,000
15,00,000 31 , 2024
24,00,000
(i)
(ii) 10% 3

21. 100 2,000, 12% 10

50
60

22. - -
1 , 2022
4,00,000 31 , 2023 2,00,000
10% 31

67/4/3 # 16 #
20. (a) Abhay and Sujoy entered into partnership on 1st April, 2024 with
capitals of 80,00,000 and 60,00,000 respectively. The partners
decided to share profits in the ratio of their capital contribution.
They withdrew 6,00,000 and 4,00,000 respectively during the
year. The partners were charged interest on drawings @ 10% per

share of profit was guaranteed by Sujoy at a minimum of

3,50,000 per annum.
The profit of the firm for the year ended 31st March, 2024
amounted to 6,50,000.
Prepare Profit and Loss Appropriation Account of the firm for the
year ended 31st March, 2024. 3
OR
(b) Sonia and Shruti were partners in a firm sharing profits and losses
in the ratio of 5 : 3. On 1st April, 2023 the balance in their fixed
capital accounts were 25,00,000 and 15,00,000 respectively.
The profit of the firm for the year ended 31st March, 2024 was
24,00,000. Calculate their share of profit if :
(i) the partnership deed is silent as to the payment of interest
on capital.
(ii) the partnership deed provides for interest on capital @ 10%
per annum. 3

21. CD Ltd. invited applications for issuing 2,000, 12% debentures of 100
each at a premium of 10 per debenture. The amount was payable as
follows :
On Application 50 per debenture
On Allotment 60 per debenture (including premium)
The debentures were fully subscribed, and all money was duly received.
Pass necessary journal entries for the above transactions in the books of
CD Ltd. 4

22. Gopal, Heera and Iqbal were partners in a firm sharing profits and losses
equally. Iqbal died on 1st April, 202
executor as on the date of death amounted to 4,00,000. Starting from
31st March, 2023, the executor was to be paid in two equal annual
instalments of 2,00,000 each, with interest @ 10% per annum. Accounts
are closed on 31st March every year.
4
67/4/3 # 17 # P.T.O.
23. 3:2 -
31 , 2024

31 , 2024

45,00,000

5,00,000
30,00,000

20,00,000 35,00,000
50,00,000

8,00,000
5,00,000

2,00,000
40,00,000

95,00,000 95,00,000

(i)

(ii) 20%

(iii)

(iv) 50%

(v) 2,00,000

67/4/3 # 18 #
23. Rishika and Shivika were partners in a firm sharing profits and losses in
the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2024 stood as
follows :

Balance Sheet of Rishika and Shivika as at 31st March, 2024

Amount Amount
Liabilities Assets
( ) ( )

Capitals : Equipment 45,00,000

Rishika 30,00,000 Investments 5,00,000

Shivika 20,00,000 50,00,000 Debtors 35,00,000

5,00,000 Stock 8,00,000

Creditors 40,00,000 Cash at Bank 2,00,000

95,00,000 95,00,000

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

(i) Equipments were given to creditors in full settlement of their

account.

(ii) Investments were sold at a profit of 20% on its book value.

(iii) Full amount was collected from debtors.

(iv) Stock was taken over by Rishika at 50% discount.

(v) Actual expenses of realisation amounted to 2,00,000 which were

paid by the firm.

Prepare Realisation Account. 6

67/4/3 # 19 # P.T.O.
24. ( ) 5 : 2 -
31 , 2024
31 , 2024

14,00,000

8,00,000 4,90,000

4,00,000 12,00,000 5,60,000

3,50,000 10,000

9,10,000

24,60,000 24,60,000

1 , 2024

(i) 4:1:2

(ii) 10%

(iii) 4,20,000

(iv) 3,00,000
2,00,000

(v)

67/4/3 # 20 #
24. (a) Atharv and Anmol were partners in a firm sharing profits and losses
in the ratio of 5 : 2. Their Balance Sheet as at 31st March, 2024 was
as follows :

Balance Sheet of Atharv and Anmol as at 31st March, 2024

Amount Amount
Liabilities Assets
( ) ( )

Capitals : Fixed Assets 14,00,000

Atharv 8,00,000 Stock 4,90,000

Anmol 4,00,000 12,00,000 Debtors 5,60,000

General Reserve 3,50,000 Cash 10,000

Creditors 9,10,000

24,60,000 24,60,000

On 1st April, 2024, Surya was admitted as a new partner for th

share in the profits of the firm on the following terms :

(i) The new profit sharing ratio between Atharv, Anmol and
Surya will be 4 : 1 : 2.

(ii) Fixed Assets were to be reduced by 10%.

(iii) Stock was sold at 4,20,000.

(iv) Surya shall bring 3,00,000 as capital and 2,00,000 for his
share of goodwill premium in cash.

(v) Capital accounts of old partners be adjusted on the basis of

or brought in by the old partners, as the case may be.

OR

67/4/3 # 21 # P.T.O.
 ( ) , 1:2:2 -
31 , 2024
31 , 2024 ,

() ()
27,00,000
7,00,000 3,00,000
5,00,000 2,00,000
3,00,000 15,00,000 1,00,000
4,50,000
13,50,000
33,00,000 33,00,000

1 , 2024 :
(i) 10%
(ii) 30,000
(iii) 6,00,000
,
(iv)

25. 31 , 2024 , ,
2013 III, I :
31 , 2024
31.03.2024 31.03.2023
( ) ( )

I :

1.
1. 29,80,000 25,00,000

67/4/3 # 22 #
 (b) Chandan, Deepak and Elvish were partners in a firm sharing
profits and losses in the ratio of 1 : 2 : 2. Their Balance Sheet as at
31st March, 2024 stood as follows :
Balance Sheet of Chandan, Deepak and Elvish as at
31st March, 2024
Amount Amount
Liabilities Assets
( ) ( )
Capitals : Fixed Assets 27,00,000
Chandan 7,00,000 Stock 3,00,000
Deepak 5,00,000 Debtors 2,00,000
Elvish 3,00,000 15,00,000 Cash 1,00,000
General Reserve 4,50,000
Creditors 13,50,000
33,00,000 33,00,000

Chandan retired from the firm on 1st April, 2024 on the following
terms :
(i) Fixed assets were to be depreciated by 10%.
(ii) Debtors of 30,000 were to be written off as bad debts.
(iii) Goodwill of the firm was valued at 6,00,000 and the

accounts of the remaining partners.

(iv) Chandan was paid through cash brought in by Deepak and
Elvish in such a way so as to make their capitals
proportionate to their new profit sharing ratio.
6
25. Following is the extract of the Balance Sheet of Sankalp Ltd. as per
Schedule III, Part I of the Companies Act, 2013 as at 31st March, 2024
along with the notes to accounts :
Balance Sheet of Sankalp Ltd. as at 31st March, 2024
(An extract)
Note 31.03.2024 31.03.2023
Particulars
No. ( ) ( )
I Equity and Liabilities :
1.
(a) Share Capital 1. 29,80,000 25,00,000

67/4/3 # 23 # P.T.O.
 31 , 2023
31.03.2023
. ( )
1.

4,50,000 10 45,00,000

2,50,000 10 25,00,000

2,50,000 10 25,00,000

25,00,000

31 , 2024
31.03.2024
. ( )
1.

4,50,000 10 45,00,000

3,00,000 10 30,00,000

2,90,000 10 29,00,000

10,000 10 1,00,000

10,000 2 20,000 80,000

29,80,000

67/4/3 # 24 #
 Notes to Accounts as at 31st March, 2023

Note 31.03.2023
Particulars ( )
No.
1. Share Capital
Authorised Capital
4,50,000 Equity Shares of 10 each 45,00,000

Issued Capital
2,50,000 Equity Shares of 10 each 25,00,000

Subscribed Capital
Subscribed and fully paid-up
2,50,000 Equity Shares of 10 each 25,00,000
Subscribed but not fully paid-up NIL
25,00,000

Notes to Accounts as at 31st March, 2024

Note 31.03.2024
Particulars ( )
No.
1. Share Capital
Authorised Capital
4,50,000 Equity Shares of 10 each 45,00,000

Issued Capital
3,00,000 Equity Shares of 10 each 30,00,000

Subscribed Capital
Subscribed and fully paid-up
2,90,000 Equity Shares of 10 each 29,00,000
Subscribed but not fully paid-up
10,000 Equity Shares of 10 each
fully called-up 1,00,000
Less Calls-in-Arrears
10,000 Equity Shares
@ 2 per share 20,000 80,000
29,80,000

67/4/3 # 25 # P.T.O.
 (i) 2023 24 1

(A) 2,10,000 (B) 4,90,000

(C) 5,00,000 (D) 5,50,000

(ii) 1

(A) 10,000 (B) 40,000

(C) 50,000 (D) 1,50,000

(iii) 1 , 2024
1

(A) 20,000 (B) 80,000

(C) 1,00,000 (D) 1,20,000

(iv) 1

(A) 20,000 (B) 80,000

(C) 1,00,000 (D) 1,20,000

(v) 9 ,
1

(A) 20,000 (B) 80,000

(C) 1,00,000 (D) 70,000

(vi) ,
1

(A) (B) 20,000

(C) 80,000 (D) 1,00,000

67/4/3 # 26 #
 Answer the following questions :

(i) Equity share capital issued during the year 2023 24 amounted to : 1
(A) 2,10,000 (B) 4,90,000
(C) 5,00,000 (D) 5,50,000

(ii) The number of shares on which the amount called-up was not
received were : 1
(A) 10,000 (B) 40,000
(C) 50,000 (D) 1,50,000

st
(iii) On 1 April, 2024, Sankalp Ltd. forfeited all the shares on which
the called-
will be debited with : 1
(A) 20,000 (B) 80,000
(C) 1,00,000 (D) 1,20,000

(iv) On forfeiture of shares, the amoun

1
(A) 20,000 (B) 80,000
(C) 1,00,000 (D) 1,20,000

(v) If all the forfeited shares are reissued at 9 per share fully
paid- 1
(A) 20,000 (B) 80,000
(C) 1,00,000 (D) 70,000

(vi) If the forfeited shares are reissued at a minimum reissue price, the
1
(A) Nil (B) 20,000
(C) 80,000 (D) 1,00,000

67/4/3 # 27 # P.T.O.
26. ( ) 10 2,00,000 20

20 17

10 3
3,00,000

(i) 2,00,000 1,50,000

(ii) 1,00,000 50,000

, 2,000
(i)

( ) 1 , 2023 100 80,00,000, 8%

5%
3,00,000

(i)
(ii) 31 ,
31 , 2024
(iii) 6

67/4/3 # 28 #
26. (a) Centurian Ltd. invited applications for issuing 2,00,000 equity
shares of 10 each at a premium of 20 per share. The amount
was payable as follows :
On Application and Allotment
20 per share (including premium 17 per share)
On First and Final call
10 per share (including premium 3 per share)
Applications were received for 3,00,000 equity shares and
allotment was made to the applicants as follows :
Category (i) Applicants for 2,00,000 shares were allotted
1,50,000 shares.
Category (ii) Applicants for 1,00,000 shares were allotted 50,000
shares.
Excess money received on application and allotment was adjusted
towards sums due on first and final call. Deepali, who had applied
for 2,000 shares, failed to pay the first and final call money.
Deepali belonged to Category (i). Her shares were subsequently
forfeited.
Pass necessary journal entries for the above transactions in the
Books of Centurion Ltd.
Open Calls-in-Arrears and Calls-in-Advance account, wherever
necessary. 6

OR

(b) Romerio Ltd. issued 80,00,000, 8% debentures of 100 each on

1st April, 2023 at par, redeemable at a premium of 5%. The company
had 3,00,000 in its Securities Premium Account.
Give journal entries in the books of Romerio Ltd. relating to the :
(i) Issue of Debentures.
(ii) Debenture interest for the year ending 31st March, 2024
assuming that interest was paid yearly on 31st March.
(iii) Writing off Debenture Interest and Loss on Issue of
Debentures. 6

67/4/3 # 29 # P.T.O.
 I

27. ( )
, 1

(A)

(B)

(C)

(D)

( ) -
_________ 1

(A)

(B)

(C)

(D)

28. ( ) _________ 1

(A) 3

(B) 26

(C) , 2013

(D) , 1956

67/4/3 # 30 #
 PART B
Option I
(Analysis of Financial Statements)

27. (a)
trend and direction of financial position and operating results is : 1

(A) Ratio Analysis

(B) Cash Flow Analysis

(C) Common Size Statements

(D) Comparative Statements

OR

(b) While preparing Common Size Statement of Profit and Loss of a

company, each item is expressed as a percentage of _________. 1

(A) Revenue from operations

(B) Total liabilities

(C) Total expenses

(D) Total assets

28. (a) Cash Flow Statement is prepared in accordance with : 1

(A) Accounting Standard 3

(B) Accounting Standard 26

(C) The Companies Act, 2013

(D) The Companies Act, 1956

OR

67/4/3 # 31 # P.T.O.
 ( ) - ? 1
(A)

(B)
(C)
(D)

29. 2:1 -
? 1
(A) (B)
(C) (D)

30. I: 1,00,000
5,00,000
4,00,000

II : ,
-
1
(A) I
(B) II
(C)
(D)

31. , 2013 III, I

- 3
( )
( )
( )
67/4/3 # 32 #
 (b) Which of the following statements is correct ? 1
(A) Proceeds from sale of goods and services will result in cash
outflow from operating activities.
(B) Payment of dividend will result in cash outflow from
investing activities.
(C) Sale of machinery will result in cash outflow from investing
activities.
(D) Payment of employee benefit expenses will result in cash
outflow from operating activities.

29. The Quick Ratio of a company is 2 : 1. Which of the following transactions

will result in decrease of this ratio ? 1
(A) Payment of outstanding salary (B) Cash received from debtors
(C) Sale of goods at a profit (D) Purchase of goods for cash

30. Statement I : Snow Ltd. made a net profit of 5,00,000 after taking into
consideration interest on investment of 1,00,000.
Operating profit before working capital changes would be
4,00,000.
Statement II : To calculate operating profit, before working capital
changes, interest on investment is subtracted from net
profit because it is a non-operating income.
Choose the correct option from the following : 1
(A) Only Statement I is true.
(B) Only Statement II is true.
(C) Both the Statements are false.
(D) Both the Statements are true.

31. Classify the following items under major heads and sub-heads (if any) in
the Balance Sheet of the Company as per Schedule III, Part I of the
Companies Act, 2013 : 3
(a) Public Deposits
(b) Licences and Franchise
(c) Accrued Income
67/4/3 # 33 # P.T.O.
32. 31 , 2024 -
3

2023-24 2022-23

8,00,000 4,00,000

1,60,000 80,000

50%
50%

33. ( ) , 4

6,30,000
30%
15% 20,00,000

10,00,000

( )
:
= 5

= 8,00,000

= 20%

, 40,000

, 4

67/4/3 # 34 #
32. From the following information of AK Ltd., prepare a Comparative
Statement of Profit and Loss for the year ended 31st March, 2024. 3

2023-24 2022-23
Particulars
( ) ( )

Revenue from Operations 8,00,000 4,00,000

Other Income 1,60,000 80,000

Employee Benefit Expenses 50% of Revenue
from Operations

Tax rate 50%

33. (a) From the following information, calculate Interest Coverage Ratio : 4

Amount
Particulars ( )
Profit after Tax 6,30,000

Tax Rate 30%

15% Debentures 20,00,000

Equity Share Capital 10,00,000

OR

(b) Calculate the amount of Opening Trade Receivables and Closing

Trade Receivables from the following information :
Trade Receivables Turnover Ratio = 5 times
Cost of Revenue from operations = 8,00,000
Gross Profit Ratio = 20%
Closing Trade Receivables were 40,000 more than that in
the beginning.

Cash sales were times of Credit sales. 4

67/4/3 # 35 # P.T.O.
34. :
31.03.2024 31.03.2023

10% 2,50,000 4,50,000

8,00,000 6,00,000
1,40,000 1,00,000
14,00,000 5,00,000
1,50,000

:
(i) 60,000 18,000
48,000 60,000
(ii) 40,000
(iii) 10% 45,000
(iv) 6

II

27.
1
(A) (B)
(C) (D)

28. ( ) : 1
(A)
(B) ,
(C)
(D) (A) (B)

67/4/3 # 36 #
34.
information :
31.03.2024 31.03.2023
Particulars
( ) ( )
10% Long Term Investments 2,50,000 4,50,000
Plant and Machinery 8,00,000 6,00,000
Goodwill 1,40,000 1,00,000
Investment 14,00,000 5,00,000
Patents 1,50,000

Additional Information :
(i) A machine costing 60,000 (depreciation provided thereon
18,000) was sold for 48,000. Depreciation charged during
the year was 60,000.
(ii) Dividend received from Pinnacle Ltd. 40,000.
(iii) Interest received on 10% Long Term Investments 45,000.
(iv) Patents were sold at their book value. 6

PART B
Option II
(Computerised Accounting)

27. It is a widely accepted security control. It uses binary coding format of

storage to offer access to database. It is known as : 1
(A) Data vault (B) Password security
(C) Data audit (D) Data integrity

28. (a) 1
(A) A text or special character
(B) Used for rows, columns or descriptive information
(C) Can be treated mathematically
(D) Both (A) and (B)
OR
67/4/3 # 37 # P.T.O.
 ( ) - ? 1
(A) (B)
(C) (D)

29. ( ) , 1
(A) (B)
(C) (D)

( ) : 1
(A) (B)
(C) (D)

30. ? 1
(A) ,
(B) ,
(C) ,
(D) ,
31. 3

32. 3

33. ( ) -
? 4

( ) 4

34. ? ? 6

67/4/3 # 38 #
 (b) Which of the following is not contained on formula tab on Excel
ribbon ? 1
(A) Function library (B) Defined names
(C) Page layout (D) Calculations

29. (a) The code that enables identification of missing documents is : 1

(A) Sequential code (B) Mnemonic code
(C) Alphabetic code (D) Block code
OR
(b) Absence of data item is represented by a special value i.e. : 1
(A) Single value (B) Store value
(C) Null value (D) Multi value

30. What is the activity sequence of the basic information processing model ? 1
(A) Organise data, collect data and then process data.
(B) Process data, organise data and then collect data.
(C) Process data, communicate information and then collect data.
(D) Collect data, organise and process data and then communicate
information.

31. Write the advantages of using Graphs. 3

32. Differentiate between tailored and specific softwares on any three basis. 3

33. (a) What are the different phases of accounting cycle which can be
processed through the use of computers ? 4
OR
(b) List eight uses of accounting softwares. 4

34. 6

67/4/3 # 39 # P.T.O.
 MARKING SCHEME
STRICTLY CONFIDENTIAL
(FOR INTERNAL AND RESTRICTED USE ONLY)
SENIOR SCHOOL CERTIFICATE EXAMINATION, 2025
ACCOUNTANCY (SUBJECT CODE—055)
(QUESTION PAPER CODE—67/4/3)
General Instructions: -
1 You are aware that evaluation is the most important process in the actual and correct assessment
of the candidates. A small mistake in evaluation may lead to serious problems which may affect the
future of the candidates, education system and teaching profession. To avoid mistakes, it is
requested that before starting evaluation, you must read and understand the spot evaluation
guidelines carefully
2 “Evaluation policy is a confidential policy as it is related to the confidentiality of the examinations
conducted, Evaluation done and several other aspects. Its’ leakage to public in any manner could
lead to derailment of the examination system and affect the life and future of millions of
candidates. Sharing this policy/document to anyone, publishing in any magazine and printing in
News Paper/Website etc may invite action under various rules of the Board and IPC.”
3 Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done
according to one’s own interpretation or any other consideration. Marking Scheme should be
strictly adhered to and religiously followed. However, while evaluating, answers which are based
on latest information or knowledge and/or are innovative, they may be assessed for their
correctness otherwise and due marks be awarded to them.
4 The Marking scheme carries only suggested value points for the answers. These are in the nature
of Guidelines only and do not constitute the complete answer. The students can have their own
expression and if the expression is correct, the due marks should be awarded accordingly.
5 The Head-Examiner must go through the first five answer books evaluated by each evaluator on the
first day, to ensure that evaluation has been carried out as per the instructions given in the Marking
Scheme. If there is any variation, the same should be zero after deliberation and discussion. The
remaining answer books meant for evaluation shall be given only after ensuring that there is no
significant variation in the marking of individual evaluators
6 Evaluators will mark( √ ) wherever answer is correct. For wrong answer CROSS ‘X” be marked.
Evaluators will not put right (✓) while evaluating which gives an impression that answer is correct
and no marks are awarded. This is most common mistake which evaluators are committing.
7 If a question has parts, please award marks on the right-hand side for each part. Marks awarded
for different parts of the question should then be totalled up and written in the left-hand margin
and encircled. This may be followed strictly
8 If a question does not have any parts, marks must be awarded in the left-hand margin and encircled.
This may also be followed strictly
9 If a student has attempted an extra question, answer of the question deserving more marks should
be retained and the other answer scored out with a note “Extra Question”.
10 No marks to be deducted for the cumulative effect of an error. It should be penalized only once.

67/4/3 CBSE 2025 Page 1 of 15

11 A full scale of 0-80 marks as given in Question Paper has to be used. Please do not hesitate to award
full marks if the answer deserves it.
12 Every examiner has to necessarily do evaluation work for full working hours i.e., 8 hours every day
and evaluate 20 answer books per day in main subjects and 25 answer books per day in other
subjects (Details are given in Spot Guidelines)
13 Ensure that you do not make the following common types of errors committed by the Examiner in
the past:-
● Leaving answer or part thereof unassessed in an answer book.
● Leaving answer or part thereof unassessed in an answer book.
● Wrong totalling of marks awarded on an answer.
● Wrong transfer of marks from the inside pages of the answer book to the title page.
● Wrong question wise totalling on the title page.
● Wrong totalling of marks of the two columns on the title page.
● Wrong grand total.
● Marks in words and figures not tallying/not same.
● Wrong transfer of marks from the answer book to online award list.
● Answers marked as correct, but marks not awarded. (Ensure that the right tick mark is correctly
and clearly indicated. It should merely be a line. Same is with the X for incorrect answer.)
● Half or a part of answer marked correct and the rest as wrong, but no marks awarded.
14 While evaluating the answer books if the answer is found to be totally incorrect, it should be marked
as cross (X) and awarded zero (0) marks
15 Any un assessed portion, non-carrying over of marks to the title page, or totalling error detected by
the candidate shall damage the prestige of all the personnel engaged in the evaluation work as also
of the Board. Hence, in order to uphold the prestige of all concerned, it is again reiterated that the
instructions be followed meticulously and judiciously.
16 The Examiners should acquaint themselves with the guidelines given in the “Guidelines for spot
Evaluation” before starting the actual evaluation.
17 Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title
page, correctly totalled and written in figures and words.
18 The candidates are entitled to obtain photocopy of the Answer Book on request on payment of the
prescribed processing fee. All Examiners/Additional Head Examiners/Head Examiners are once
again reminded that they must ensure that evaluation is carried out strictly as per value points for
each answer as given in the Marking Scheme.

67/4/3 CBSE 2025 Page 2 of 15

 PART A
(ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES)
1 Q. Rakesh and Somesh were partners ………………………
1
Ans. (D) - `10,00,000 mark
2 Q. Eklavya, Fateh and Girish entered into ………………………
1
Ans. (D) - `1,00,000 mark
3 Q. The business of a partnership firm ……………………………
1
Ans. (D) - Mutual Agency mark
4 Q. Reema, Meesha and Shikha were partners ………………………
1
Ans. (C) - `50,000 mark
5 Q. Neeru and Pooja were partners ………………………
1
Ans. (D) - `10,00,000 mark
6 Q. Kabir and Lara were partners ………………………
1
Ans. (C) - `6,00,000 mark
7 Q. Prakhar and Rajan were partners ………………………
1
Ans. (A) - 3:2 mark
8 Q. Diksha Ltd. invited applications for issuing ………………………………..
1
Ans. (A) -- `22,00,000 mark
9 (a) Q. ‘Reserve Capital’ can be ………………………
1
Ans. (B) - only at the time of winding up of the company. mark

OR OR

(b) Q. An offer of securities or invitation to ………………………….

1
Ans. (C) - Private Placement. mark
10 Q. Assertion (A): Partners’ salary is debited ………….
1
Ans. (A) -- Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct mark
explanation of Assertion (A).
11 Q. White, Shaun and Todd were partners ………………………
1
Ans. (B) – Bank A/c mark
12 (a) Q. Shivalik Ltd. issued ……………………… 1
mark
Ans. (B) - `20,00,000
OR OR

(b) Q. Keya Ltd. issued ………………………

67/4/3 CBSE 2025 Page 3 of 15

 1
Ans. (A) - `16,00,000 mark
13 (a) Q. Tavish, Umesh and Varun were partners ………………………
1
Ans. (A) - 21 mark
72
OR OR

(b) Q. Asit, Sonu and Hina were partners ………………………

1
Ans. (D) - `10,00,000 mark
14 (a) Q. Ajit, Biswas and Chitra were partners ………………………
1
Ans. (C) - `45,000 mark
OR OR

(b) Q. Isha, Julie and Kavita were partners ………………………

1
Ans. (A) - `20,000 mark
15 Q. That portion of the called up capital which ………………………
1
Ans. (C) – Paid-up Capital mark
16 (a) Q. On 1st April 2024, Bright Ltd. issued ………………………
1
Ans. (A) - `2,00,000 mark
OR OR

(b) Q. Minimum Subscription for allotment of shares …………………………. 1

mark
Ans. (B) - Issued
17 Q. Aman, Suman and Tanvi were partners ………………………
Ans.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount ( `) Amount ( `)
2024 Suman’s Capital A/c Dr. 3,00,000
April 1 Tanvi’s Capital A/c Dr. 3,00,000
To Aman’s Capital A/c 6,00,000
(Adjustment entry due to change in
profit sharing ratio) (1)
Working Notes
Old Ratio = Aman : Suman : Tanvi = 9:8:7
New Ratio = Aman : Suman : Tanvi = 7:9:8
+
Sacrificing Share = Old Share – New Share
Aman’s Sacrificing Share = 9/24 – 7/24 = 2/24 (sacrifice)
Suman’s Sacrificing Share = 8/24 – 9/24 = -1/24 (gain)
Tanvi’s Sacrificing Share = 7/24 – 8/24 = -1/24 (gain) (1)

67/4/3 CBSE 2025 Page 4 of 15

 Particulars ` +
Contingency Reserve 24,00,000
Credit Balance of Profit and Loss Account 12,00,000
Goodwill of the firm 42,00,000 (1)
Revaluation Loss (6,00,000)
Total 72,00,000 =3
Aman Sacrifices = 2/24 x 72,00,000 = `6,00,000, Suman Gains= 1/24 x72,00,000= `3,00,000, marks
Tanvi Gains = 1/24 x72,00,000= `3,00,000.
18 Q. Vishal and Pulkit were partners………………………………..

Ans
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount ( `) Amount ( `)
2024 Revaluation A/c Dr. 1,00,000
April 1 Investment Fluctuation Fund A/c Dr. 5,00,000
To Investment A/c 6,00,000 (1½ )
(Loss on Investment of `5,00,000 covered
from Investment Fluctuation Fund and
`1,00,000 transferred to Revaluation A/c) +
2024 Workmen Compensation Fund A/c Dr. 25,00,000
April 1 To Workmen Compensation Claim A/c 25,00,000 (1½ )
(Workmen Compensation Claim covered
from Workmen Compensation Fund) =3
. marks
19 (a) Q. Mallark Ltd. purchased assets ………………………………..

Ans.
Books of Mallark Ltd.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount ( `) Amount ( `)
Assets A/c Dr. 40,00,000
Goodwill A/c Dr. 1,00,000 (1½ )
To Liabilities A/c 5,00,000
To Naroha Ltd. 36,00,000
(Business of Naroha Ltd. taken over at +
`36,00,000)
Naroha Ltd. Dr. 36,00,000
To 7% Debentures A/c 30,00,000 (1½ )
To Securities Premium A/c 6,00,000
(issued 30,000, 7% Debentures of `100 =3
each at a premium of 20%) marks

OR OR
(b) Q. Sunlock Ltd. purchased assets ………………………………..

Ans.

67/4/3 CBSE 2025 Page 5 of 15

 Books of Sunlock Ltd.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount (`) Amount (`)
Assets A/c Dr. 50,00,000
To Liabilities A/c 6,00,000
To Moondock Ltd. 41,40,000 (1½ )
To Capital Reserve A/c 2,60,000
(Business of Moondock Ltd. taken over at
`41,40,000) +
Moondock Ltd. Dr. 41,40,000
Discount on Issue of Debentures A/c Dr. 4,60,000
To 8% Debentures A/c 46,00,000 (1½ )
(Issued 46,000, 8% Debentures of `100 each
at a discount of 10%) =3
marks
20 (a) Q. Abhay and Sujoy entered into partnership ………………………………..
Ans.
Profit and Loss Appropriation Account
Dr. for the year ended 31 st March 2024 Cr.
Particulars Amount Particulars Amount
( `) ( `)
To Profit transferred to By P&L A/c -
Abhay’s Capital 4,00,000 (Net Profit) 6,50,000 (1x3)
Sujoy’s Capital 3,00,000 7,00,000 By Interest on Drawings
Abhay’s 30,000 =3
Sujoy’s 20,000 50,000 marks
7,00,000 7,00,000

OR OR
(b) Q. Sonia and Shruti were partners ……………………………
Ans.(i)
Sonia’s share of profit = 5/8 x 24,00,000 = `15,00,000 (1½ )
Shruti’s share of profit = 3/8 x 24,00,000 = ` 9,00,000

(Note – No Interest on Capital will be provided)

+
(ii)
Sonia’s share of profit = 5/8 x (24,00,000 – 4,00,000) = `12,50,000
Shruti’s share of profit = 3/8 x (24,00,000 – 4,00,000) = ` 7,50,000
(1½ )
Working :
Sonia’s Interest on Capital = 10/100 x 25,00,000 = `2,50,000
Shruti’s Interest on Capital = 10/100 x 15,00,000 = `1,50,000
`4,00,000

Note: Full credit to be given if a student has calculated share of profit by preparing P/L =3
Appropriation A/c marks

67/4/3 CBSE 2025 Page 6 of 15

21 Q. CD Ltd. invited applications for issuing ………………………..

Ans.
Books of CD Ltd.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount (`) Amount (`)
Bank A/c Dr. 1,00,000
To Debenture Application A/c 1,00,000
(Application amount received on 2,000
debentures)
Debenture Application A/c Dr. 1,00,000
To 12% Debentures A/c 1,00,000
(Application amount transferred to debentures
a/c)
Debenture Allotment A/c Dr. 1,20,000
To 12% Debentures A/c 1,00,000
To Securities Premium A/c 20,000
(Allotment amount due on 2,000 debentures
including premium)
Bank A/c Dr. 1,20,000
To Debenture Allotment A/c 1,20,000
(1 x 4)
(Allotment amount received)
=4
marks
22 Q. Gopal, Heera and Iqbal were partners …………………………………

Ans.
Dr. Iqbal’s Executor’s Account Cr.
Date Particulars ` Date Particulars `
2023 2022
March 31 To Bank A/c (½) 2,40,000 April 1 By Iqbal’s Capital A/c (1) 4,00,000
” To balance c/d (½) 2,00,000 2023
March 31 By Interest A/c (½) 40,000
4,40,000 4,40,000
2024 2023
March 31 To Bank A/c (½) 2,20,000 April 1 By balance b/d (½) 2,00,000
2024
March 31 By Interest A/c (½) 20,000
2,20,000 2,20,000 =4
marks

67/4/3 CBSE 2025 Page 7 of 15

23 Q. Rishika and Shivika were partners ………………………..

Ans.
Dr. Realisation Account Cr.
Particulars Amount Particulars Amount
(`) (`)
To Sundry Assets t/f: (1) By Sundry Liabilities t/f: (½)
Equipment 45,00,000 Shivika’s Husband’s Loan
5,00,000
Investments 5,00,000 Creditors 40,00,000 45,00,000
Debtors 35,00,000
Stock 8,00,000 93,00,000 By Bank A/c (Investment) (½) 6,00,000
By Bank A/c (Debtors) (½) 35,00,000
To Bank A/c (1) 2,00,000 By Rishika’s Capital A/c 4,00,000
(Realisation Expenses) (Stock) (½)
To Bank A/c (1) 5,00,000 By Loss transferred to (1)
(Shivika’s Husband’s Loan) Partners’ Capital A/c
Rishika 6,00,000
Shivika 4,00,000 10,00,000
1,00,00,000 1,00,00,000 =6
marks
24 (a) Q. Atharv and Anmol were partners ………………………..

Ans.

Dr. Revaluation Account Cr.

Particulars Amount ( `) Particulars Amount ( `)
To Fixed Assets 1,40,000 By Loss t/f to Capital A/c
(½ x3
To Stock 70,000 Atharv 1,50,000
=
Anmol 60,000 2,10,000
1½)
2,10,000 2,10,000

Dr. Partners’ Capital Accounts Cr. +

Particulars Atharv Anmol Surya Particulars Atharv Anmol Surya
( `) ( `) ( `) ( `) ( `) ( `)
To 1,50,000 60,000 - By balance b/d 8,00,000 4,00,000 -
Revaluation
A/c (½)
By General
Reserve A/c
(½) 2,50,000 1,00,000 -
To Cash A/c 4,00,000 3,90,000 By Cash A/c
(1) (½) - - 3,00,000
To balance 6,00,000 1,50,000 3,00,000 By Premium (4½ )
c/d (1) for Goodwill 1,00,000 1,00,000 -
A/c (1) =6
11,50,000 6,00,000 3,00,000 11,50,000 6,00,000 3,00,000 marks

OR OR

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24 (b) Q. Chandan, Deepak and Elvish were partners ……………………….

Ans:

Dr. Revaluation Account Cr.

Particulars Amount ( `) Particulars Amount ( `)
To Fixed Assets 2,70,000 By Loss t/f to Capital A/c (½ x3
To Bad Debts 30,000 Chandan 60,000 =
Deepak 1,20,000 1½ )
Elvish 1,20,000 3,00,000
3,00,000 3,00,000

Dr. Partners’ Capital Accounts Cr. +

Particulars Chandan Deepak Elvish Particulars Chandan Deepak Elvish
( `) ( `) ( `) ( `) ( `) ( `)
To 60,000 1,20,000 1,20,000 By balance 7,00,000 5,00,000 3,00,000
Revaluation b/d (½)
A/c (½)
To Chandan’s 60,000 60,000 By General 90,000 1,80,000 1,80,000
Capital A/c Reserve A/c
(½) (½)
By Deepak’s 60,000
Capital A/c
(½)
By Elvish’s 60,000
Capital A/c
(½)
To Cash A/c 8,50,000 By Cash A/c 3,25,000 5,25,000
(½) (½) (4½)
To balance 8,25,000 8,25,000
c/d (½)
9,10,000 10,05,000 10,05,000 9,10,000 10,05,000 10,05,000
=6
Capital of new firm = 8,50,000 + 5,00,000 + 3,00,000 marks
= `16,50,000

25 Q. Following is the extract of the Balance Sheet of Sankalp Ltd. as per ……………………………..

Ans.
(i) (C) - `5,00,000
(ii) (A) - 10,000
(iii) (C) - `1,00,000
(iv) (B) - `80,000
(1 x 6)
(v) (D) - `70,000
(vi) (A) - NIL =6
marks

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26 (a) Q. Centurian Ltd. invited applications ……………………………….
Ans Books of Centurian Ltd.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount Amount
(`) (`)
Bank A/c Dr. 60,00,000
To Equity Share Application and Allotment A/c 60,00,000 (1)
(Application amount received on 3,00,000 shares.)
Equity Share Application and Allotment A/c Dr. 60,00,000 +
To Equity Share Capital A/c 6,00,000
To Securities Premium A/c 34,00,000 (1½)
To Calls in Advance A/c 15,00,000
To Bank A/c 5,00,000
(Application amount transferred to share capital, +
securities premium, calls in advance and returned.)
Equity Share First and Final Call A/c Dr. 20,00,000
To Equity Share Capital A/c 14,00,000
(1)
To Securities Premium A/c 6,00,000
(First and Final call amount due on 2,00,000 shares.)
+
Bank A/c Dr. 4,95,000
Calls in Advance A/c Dr. 15,00,000
Calls in Arrear A/c Dr. 5,000
To Equity Share First and Final Call A/c 20,00,000 (1½)
(First and Final call received with exception on 1,500
shares and calls in advance adjusted.) +
Equity Share Capital A/c Dr. 15,000
Securities Premium A/c Dr. 4,500
To Share Forfeiture A/c 14,500 (1)
To Calls in Arrears A/c 5,000 =6
(1500 shares forfeited due to non-payment of first marks
and final call money.)
OR OR
26 b) Q. Romerio Ltd. issued `80,00,000, 8% Debentures ……………………………………………..

Ans.
Books of Romerio Ltd.
JOURNAL
Date Particulars L.F. Dr. Cr.
Amount(`) Amount(`)
2023 Bank A/c Dr. 80,00,000
April 1 To Debenture Application and Allotment A/c 80,00,000
(Application amount received on 80,000
debentures.)
” Debenture Application and Allotment A/c Dr. 80,00,000
Loss on Issue of Debentures A/c Dr. 4,00,000
To 8% Debentures A/c 80,00,000
To Premium on Redemption of Debentures A/c 4,00,000
(Application amount transferred to debentures
a/c and provision made for premium on
redemption of debentures.)

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 2024 Interest on Debenture A/c Dr. 6,40,000
March31 To Debenture Holders A/c 6,40,000
(Interest on debentures due.)
” Debenture Holders A/c Dr. 6,40,000
To Bank A/c 6,40,000
(Interest on debentures paid.)
” Statement of Profit and Loss Dr. 6,40,000
To Interest on Debenture A/c 6,40,000
(Interest on debentures written off.) (1 x 6)
” Securities Premium A/c Dr. 3,00,000 =6
Statement of Profit and Loss Dr. 1,00,000 marks
To Loss on Issue of Debenture A/c 4,00,000
(Loss on issue of debentures written off.)
PART B
OPTION - I
(ANALYSIS OF FINANCIAL STATEMENTS)
27 (a) Q. The tool of ……………………… 1
mark
Ans. (D) - Comparative Statements
OR OR

(b) Q. While preparing Common Size Statement ………………………………….. 1

mark
Ans. (A) - Revenue from Operations
28 (a) Q. Cash Flow Statement is prepared ………………………
1
Ans. (A) – Accounting Standard 3 mark

OR OR
(b) Q. Which of the following statements ………………………….
1
Ans. (D) - Payment of employee benefit expenses will result in cash outflow from mark
operating activities.
29 Q. The Quick Ratio of a company ………………………..
1
Ans.(D) - Purchase of goods for cash mark
30 Q. Statement I : Snow Ltd. made a net profit ………………………..
1
Ans.(D) -- Both the Statements are true mark
31 Q. Classify the following items under major heads and sub heads. ………………………..
Ans.
S.N. Item Major Head Sub Head
(a) Public Deposit Non-Current Liabilities Long Term Borrowings
(b) Licences and Franchises Non-Current Assets Property, Plant and
Equipment and Intangible
Assets (½x 6)
(c) Accrued Income Current Assets Other Current Assets =3
marks

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32 Q. From the following information …………………..….
Ans. In the books of AK Ltd
Comparative Income Statement
for the years ended 31st March 2023 and 31st March 2024
Particulars Absolute Absolute Absolute %
Amounts Amounts Change Change
31.3.2023 31.3.2024 `
` `
I. INCOME
Revenue from Operations 4,00,000 8,00,000 4,00,000 100 (½)
Other Incomes 80,000 1,60,000 80,000 100 (½)
TOTAL REVENUE 4,80,000 9,60,000 4,80,000 100

II. EXPENSES
Employee Benefit Expenses 2,00,000 4,00,000 2,00,000 100 (½)
TOTAL EXPENSES 2,00,000 4,00,000 2,00,000 100

III. Profit Before Tax (I-II) 2,80,000 5,60,000 2,80,000 100 (½)
IV. Tax 1,40,000 2,80,000 1,40,000 100 (½) =3
V. Profit After Tax (III-IV) 1,40,000 2,80,000 1,40,000 100 (½) marks

33 (a) Q. From the following information, calculate Interest ……………………….

Ans.
• Interest Coverage Ratio = Profit Before Interest and Tax (1)
Interest on Long Term borrowings
+
• Profit Before Tax = Profit After Tax x 100/70
= 6,30,000 x 100/70 (1)
= ` 9,00,000
+
• Profit Before Interest and Tax = Profit Before Tax + Interest on Debentures
= 9,00,000 + 3,00,000
= ` 12,00,000 (1)

• Interest Coverage Ratio = 12,00,000 +

3,00,000 (1)
= 4 times =4
marks
OR OR
(b) Q. Calculate the amount of Opening …………………………………….
Ans.
• Trade Receivable Turnover Ratio = Net Credit Revenue from Operations (½)
Average Trade Receivable
+
• Revenue from Operation = Cost of Revenue from Operation + Gross Profit
Revenue from Operation = 8,00,000 + 1/5 of Revenue from Operation
4/5 Revenue from Operation = 8,00,000
Revenue from Operation = 8,00,000 x 5/4 (1)
Revenue from Operation = `10,00,000

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 +
• Revenue from Operation = Cash Revenue from Operation + Credit Revenue from
Operation
10,00,000 = 1/4 Credit Revenue from Operation + Credit Revenue from Operation
10,00,000 = 5/4 Credit Revenue from Operation
10,00,000 x 4/5 = Credit Revenue from Operation
`8,00,000 = Credit Revenue from Operation (1)

• 5 = 8,00,000 +
Average Trade Receivable
Average Trade Receivable = `1,60,000 (½)
+
• Average Trade Receivable = Opening Trade Receivables + Closing Trade Receivable
2
Average Trade Receivable = Opening Trade Receivables + Opening Trade Receivable + 40,000
2
1,60,000 x 2 = 2 x Opening Trade Receivable + 40,000
3,20,000 – 40,000 = 2 x Opening Trade Receivable
2,80,000 / 2 = Opening Trade Receivable (½)
`1,40,000 = Opening Trade Receivable
+
`1,80,000 = Closing Trade Receivable (½)
=4
marks
34 Q. Calculate Cash Flow from Investing Activities …………………………
Ans.

Cash Flow from Investing Activities

Particulars Amount (`)
Sale of 10% Long Term Investment (½) 2,00,000
Purchase of Machinery (note no. 1) (½) (3,02,000)
Sale of Machinery (½) 48,000
Purchase of Goodwill (1) (40,000)
Purchase of Investments in Shares of Pinnacle Ltd. (½) (9,00,000) (5½)
Dividend Received from Pinnacle Ltd. (½) 40,000
Interest Received on 10% Long Term Investment (½) 45,000
Sale of Patents (1) 1,50,000
Net Cash used in Investing Activities (½) (7,59,000)

Note No. 1
+
Dr. Plant and Machinery Account Cr.
Particulars Amount (`) Particulars Amount (`)
To Balance b/d 6,00,000 By Bank A/c (sale) 48,000
To Statement of P/L (gain) 6,000 By Depreciation A/c 60,000 (½)
To Bank A/c (purchase) 3,02,000 By Balance c/d 8,00,000
9,08,000 9,08,000 =6
marks

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 PART B
OPTION – II
(COMPUTERISED ACCOUNTING)
27 Q. It is a widely accepted ………
1
Ans. (B) – Password Security mark
28 (a) Q. ‘LABELS’ in Excel means ………………………
1
Ans. (D) - Both (A) and (B) mark
OR OR
(b) Q. Which of the following is not ………………………….
1
Ans. (C) - Page Layout mark
29 (a) Q. The code that enables identification of ………………………
1
Ans. (A) – Sequential Code mark
OR OR
(b) Q. Absence of data item is ………………………….
1
Ans. (C) - Null Value mark
30 Q. What is the activity sequence ………
1
Ans. (D) Collect data, organise and process data and then communicate information. mark
31 Q. Write the advantage of using ………………………………..
Ans.
Following are the advantages of using graphs.
(1) Help to Explore: It helps to find relationship between variables. A graph may be quicker
and easier way to establish possible relationships rather than paging through raw data.
(2) Help to present: When you want to present information in as little time as possible,
Graphing plays a key role. Graphs provide the ideas and information in such a way that
they catch the attention of users of information and they also appreciate the less time-
consuming presentation which helps in taking quick decisions.
(3) Help to Convince: Different characteristics of data can be presented in such a way that (1 x 3)
it convinces the seeker. Graphs have the ability to take large amounts of information =3
and make them into exhibitions that are easily used to persuade. marks
32 Q. Differentiate between tailored and specific ………
Ans. (any three)
Basis Tailored Softwares Specific Softwares
(i) Nature of It is suitable for It is suitable for
business large/typical businesses. medium businesses.
(ii) Cost of Cost of installation is Cost of installation is
installation high in case of tailored lower than the tailored
software. software.
(iii) Expected level Level of Secrecy is Level of Secrecy is
of secrecy high. less than the
tailored software.
(iv) No. of users and They are for They are for specific
their interface unlimited users. users and interface is
as per specification.

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 (v) Adaptability Their adaptability is Their adaptability is
specific. less than the
tailored software.
(vi) Training Requirement for Requirement for (1 x 3)
required training is high. training is medium. =3
marks
33 (a) Q. What are the different phases ………………………
Ans.
Different phases of accounting cycles which can be processed through computer are as
Follows:
1. Analysis of business transactions.
2. Posting of Journal entries to ledger accounts.
3. Preparation of trial balance from balances of accounts.
4. Review of accounts and making of necessary adjustments.
5. Posting of adjustments to ledger and preparation of adjusted trial balance.
6. Adjusted trail balance in used to prepare Profit and Loss account and Balance Sheet. 4
7. Financial statements are prepared from the finally adjusted ledger and balancing marks
the accounts.
OR OR
(b) Q. List eight uses of accounting ………………………….
Ans.
Uses of accounting software. (Any 8)
1. It can perform all basic accounting functions.
2. Manage the stores
3. Can perform the job of ‘Costing’
4. Manage payroll
5. Can get many Management Information System reports which are useful for
day-to-day function. (½x 8)
6. File Tax returns like prepare VAT Forms, TDS returns, etc.
7. Maintain budgets =4
8. Calculate interest on pending amounts. marks
9. Manage data over different locations and synchronize it.
34 Q. What is meant by ‘Pivot Table’ ………………………………………………..
Ans
A Pivot Table is an interactive way to quickly summarize large amounts of data. These are
especially designed for Querying large amounts of data in many user-friendly ways. (1)
Following are its advantages: +
1. Expanding and collapsing levels of data to focus on results and providing from details
to the summary of data for areas of interest.
2. Querying large amounts of data in user-friendly ways by summarizing data in
subcategories and creating custom calculations and formulas.
3. Moving rows to columns or columns to rows to see different summaries of the source
data.
4. Filtering, sorting, grouping and conditionally formatting the most useful and the
interesting subset of data to enable us to focus on the information that we want. (5)
5. Presenting concise, attractive and annotated online or printed reports.
6. The use of a Pivot Table report is to analyse related totals, when we have a long list of = 6
figures to sum and to compare several facts about each figure. marks

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