Series : WYXZ6 SET ~ 1

-
Q.P. Code 67/6/1
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

67/6/1 #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. , 5:3:2 -

, , 1

(A) 5:2:2:1
(B) 3:3:2:2
(C) 3:2:3:2
(D) 4:3:2:1

67/6/1 #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. A, B and C were partners in a firm sharing profits and losses in the ratio
th
of 5 : 3 : 2. D was admitted as a new partner for share in the profits
of the firm. D acquired his share entirely from A. The new profit sharing
ratio between A, B, C and D will be : 1
(A) 5:2:2:1
(B) 3:3:2:2
(C) 3:2:3:2
(D) 4:3:2:1

67/6/1 #3# P.T.O.

2. , 2:2:1 -
12%
1 , 2023
20,000 31 , 2024
__________ 1

(A) 6 (B) 6

(C) 5 (D) 5

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

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

(C) (A) , (R)

(D) (A) , (R)

4. ( )
, 1
(A)
(B)
(C)
(D)

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

67/6/1 #4#
2. Ravi, Mohan and Vinod were partners in a firm sharing profits and losses
in the ratio of 2 : 2 : 1. The partnership deed provided that interest on
1st July,
2023, Mohan withdrew 20,000 every month for his personal use. For the
year ended 31st
charged for ___________ months. 1

(A) 6 (B) 6

(C) 5 (D) 5

3. There are two statements Assertion (A) and Reason (R) :

Assertion (A) : Partnership is the result of an agreement between two or
more persons to do business and share its profits and
losses.
Reason (R) : Partnership agreement should always be in written form.
Choose the correct alternative 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) Assertion (A) is incorrect, but Reason (R) is correct.

4. (a) A portion of the uncalled capital reserved by a company to be

called only in the event of winding up of the company, is called : 1
(A) Subscribed but not fully paid up capital
(B) Unissued capital
(C) Reserve capital
(D) Subscribed capital

OR
(b) When applications for more shares of a company are received than
the number of shares offered to the public for subscription, it is
known as : 1
(A) Over subscription (B) Full subscription
(C) Subscription at premium (D) Under subscription

67/6/1 #5# P.T.O.

5. ( ) , 5:3:2 -
31 , 2024 -
60,000 1 , 2024
2:2:1 -
1
,

() ()
(A) 30,000
18,000
12,000
- 60,000

(B) 24,000
24,000
12,000
- 60,000

(C) 6,000
6,000

(D) 6,000
6,000

( ) 3:1 -

8,00,000
50,000 60,000
10%
_________ 1
(A) 80,000 (B) 10,000
(C) 84,000 (D) 74,000

67/6/1 #6#
5. (a) Manav, Mayank and Manish were partners in a firm sharing
profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2024,
their Balance Sheet showed a debit balance of 60,000 in the
st
Profit and Loss Account. They decided that from 1 April, 2024
they will share profits in the ratio of 2 : 2 : 1. The journal entry for
writing off the debit balance of Profit and Loss Account on
reconstitution of the firm will be : 1
Manav, Mayank and Manish
JOURNAL
Dr. Amount Cr. Amount
Particulars
() ()
(A) 30,000
18,000
12,000
To Profit and Loss A/c 60,000
(B) 24,000
24,000
12,000
To Profit and Loss A/c 60,000
(C) 6,000
6,000
(D) 6,000
6,000

OR
(b) Murthy and Madhavan were partners in a firm sharing profits and
losses in the ratio of 3 : 1. They admitted Shriniwas as a new
partner in the firm. On admission of Shriniwas, there existed a
balance of 8,00,000 in debtors account and a balance of 50,000
in provision for bad debts account. Debtors of 60,000 proved bad
and hence were written off. It was decided to maintain a provision
for bad debts at 10% of the debtors. The revaluation account will
be debited by ________ on the reconstitution of the firm. 1
(A) 80,000 (B) 10,000
(C) 84,000 (D) 74,000

67/6/1 #7# P.T.O.

6. ( ) 10 600 2
3
1
(A) 1,200 (B) 1,200
(C) 3,000 (D) 3,000

( ) 100 70 , 300
20
100 100 , 70
100 ? 1
(A) 10,000 (B) 3,000
(C) 21,000 (D) 5,000

7. 9,50,000 100
9% 5%
10% 1
(A) 10,000 (B) 9,500
(C) 9,050 (D) 8,636

8. ( ) 31 , 2024
80,000 12%
1
(A) 9,600 (B) 4,800
(C) 800 (D) 1,600

( ) ? 1
(A) -
(B)
(C)
(D)

9. , 4:3:2 -
- 5:3
1
(A) 21 : 11 (B) 3:2
(C) 5:3 (D) 1:1

67/6/1 #8#
6. (a) Manas Ltd. forfeited 600 shares of 10 each for the non-payment
of first call of 2 per share. The final call of 3 per share was not

1
(A) Debited by 1,200 (B) Credited by 1,200
(C) Debited by 3,000 (D) Credited by 3,000
OR
(b) Rajesh Ltd. forfeited 300 equity shares of 100 each, 70 called up
for the non-payment of first call of 20 per share. Out of these
shares, 100 shares were reissued @ 100 per share, 70 paid up.
How much balance will remain in the share forfeiture account
after reissue of 100 shares ? 1
(A) 10,000 (B) 3,000
(C) 21,000 (D) 5,000
7. Shyamla Ltd. purchased machinery of 9,50,000 from Rohini Ltd. The
payment was made by issue of 9% debentures of 100 each at a discount
of 5% redeemable at a premium of 10% after four years. The number of
debentures issued in favour of Rohini Ltd. will be : 1
(A) 10,000 (B) 9,500
(C) 9,050 (D) 8,636
8. (a) Mohan, a partner, withdrew 80,000 from the business for his
personal use during the year ended 31st March, 2024. Interest on
drawings was to be charged @ 12% per annum. Interest on
: 1
(A) 9,600 (B) 4,800
(C) 800 (D) 1,600
OR
(b) The fo
capital : 1
(A) Profit and Loss Account
(B)
(C) Interest on Capital Account
(D)
9. Daman, Mohit and Paras were partners in a firm sharing profits and
losses in the ratio of 4 : 3 : 2. Daman retires. Mohit and Paras decided to
share future profits and losses in the ratio of 5 : 3. The gaining ratio of
Mohit and Paras will be : 1
(A) 21 : 11 (B) 3:2
(C) 5:3 (D) 1:1

67/6/1 #9# P.T.O.

10.
1

(A) (i) , (ii)

, (iii) ,
(B) (i) , (ii) , (iii)
,
(C) (i) , (ii)
, (iii) ,
(D) (i) , (ii) , (iii)
,
11. 3:2 -
1 , 2023 10,00,000 15,00,000 31 ,
2024
10%

1
(A) 2,50,000 (B) 2,50,000
(C) (D) 25,000

12.
, 1

(A) (B)

(C) (D)

13. 100 80 , 600 20

90
1
(A) 36,000 (B) 30,000
(C) 48,000 (D) 54,000

67/6/1 # 10 #
10. In the event of dissolution of a partnership firm, the order of payment of
losses including deficiencies of capital shall be : 1
(A) (i) First out of profits, (ii) Next by the partners individually in their
profit sharing ratio, (iii) Lastly, if necessary, out of capital of
partners.
(B) (i) First out of capital of partners, (ii) Next out of profits,
(iii) Lastly, if necessary, by the partners individually in their profit
sharing ratio.
(C) (i) First by the partners individually in their profit sharing ratio,
(ii) Next out of profits, (iii) Lastly, if necessary, out of capital of
partners.
(D) (i) First out of profits, (ii) Next out of capital of partners,
(iii) Lastly, if necessary, by the partners individually in their profit
sharing ratio.

11. Ashok and Avinash were partners in a firm sharing profits and losses in
the ratio of 3 : 2. On 1st April, 2023, their capitals were 10,00,000 and
15,00,000 respectively. After the accounts for the year ending
st
31 March, 2024 were prepared, it was discovered that interest on capital
at the rate of 10% per annum, as provided for in the partnership deed,
was not credited to the partne

profit would have : 1

(A) Reduced by 2,50,000 (B) Increased by 2,50,000
(C) No change in the profits (D) Reduced by 25,000

12. Debentures which can be transferred by way of delivery and the company
does not keep any record of the debentureholders are called : 1
(A) Secured Debentures (B) Redeemable Debentures
(C) Registered Debentures (D) Bearer Debentures

13. Java Ltd. forfeited 600 equity shares of 100 each 80 called up for the
non-payment of first call of 20 per share. These shares were reissued at

will be : 1
(A) 36,000 (B) 30,000
(C) 48,000 (D) 54,000

67/6/1 # 11 # P.T.O.
14. 4:5 -
1 , 2024

31 , 2024
5,76,000
50,000 1
(A) 5,76,000 (B) 6,76,000
(C) 4,76,000 (D) 7,76,000
15. ( ) , 4:3:2 -

2,20,000 4,00,000
1
(A) 2,20,000 (B) 1,80,000
(C) 4,00,000 (D) 40,000

( ) 3:2 -
1,60,000 1,00,000
1,50,000
1
(A) 4,10,000 (B) 7,50,000
(C) 3,40,000 (D) 2,50,000
16. , 2:2:1 -
31 31 , 2024
31 , 2024 6,00,000
1
(A) 90,000 -
90,000
(B) - 90,000
90,000
(C) 1,20,000 -
1,20,000
(D) - 1,20,000
1,20,000

67/6/1 # 12 #
14. Uma and Veena were partners in a firm sharing profits and losses in the
ratio of 4 : 5. On 1st April, 2024 they decided to admit Usha as a new
partner for th ssion it
was decided that the goodwill of the firm will be valued equal to the
st March, 2024
were 5,76,000. However, to arrive at this profit, both the opening stock
and closing stock were overvalued by 50,000. The goodwill of the firm
will be : 1
(A) 5,76,000 (B) 6,76,000
(C) 4,76,000 (D) 7,76,000
15. (a) Sona, Mona and Raghav were partners in a firm sharing profits and
losses in the ratio of 4 : 3 : 2. Raghav retired. The balance in
Ra
on account of reserves and revaluation of assets and liabilities was
2,20,000. Sona and Mona agreed to pay him 4,00,000 in full
m was : 1
(A) 2,20,000 (B) 1,80,000
(C) 4,00,000 (D) 40,000
OR
(b) Giri and Shyam were partners in a firm sharing profits and losses
in the ratio of 3 : 2. Their capitals were 1,60,000 and 1,00,000
respectively. Hema was admitted for th share in the profits of the
firm. Hema brought 1,50,000 as her capital. The goodwill of the
1
(A) 4,10,000 (B) 7,50,000
(C) 3,40,000 (D) 2,50,000
16. Sharma, Verma and Khan were partners in a firm sharing profits and
losses in the ratio of 2 : 2 : 1. The firm closes its books on 31st March
every year. On 31st
profits of the firm till the date of his death was to be calculated on the
basis of the profit of the previous year. During the year ended 31st March,
2024 the firm earned a profit of
share in the profits of the firm till the date of his death will be : 1
(A) 90,000 and Profit and
Loss Suspense Account will be credited by 90,000.
(B) Profit and Loss Suspense Account will be debited by 90,000 and
90,000.
(C) 1,20,000 and Profit
and Loss Suspense Account will be credited by 1,20,000.
(D) Profit and Loss Suspense Account will be debited by 1,20,000 and
1,20,000.

67/6/1 # 13 # P.T.O.
17. 1 , 2023 15,00,000 12,00,000
3:2 -
1 , 2023 1,00,000
2,00,000 10%
50,000
60,000 18%
31 , 2024 -
72,000
48,000
3

18. ( ) , 5:3:8 -
5,00,000
- 31 , 2024
8,00,000
31 , 2024 , -
3

( ) 7:3 -
9,00,000 7,00,000
8% 31 , 2024
9%

3
19. ( ) 50,00,000
7,00,000 40,00,000
100 9% 25%

( )
3
(i) 100 9,000, 9% 10%
5 5%
(ii) 100 5,000, 11% 10%
5 5%

67/6/1 # 14 #
17. On 1st April, 2023, Jain and Gupta started a partnership firm with fixed
capitals of 15,00,000 and 12,00,000 respectively. They decided to share
profits and losses in the ratio of 3 : 2. On 1st July, 2023, Jain withdrew
1,00,000 from this capital and Gupta introduced further capital of
2,00,000. Partnership deed provided for interest on capital @ 10% p.a.
During the year Jain withdrew 50,000 and Gupta withdrew 60,000 for
their personal use. Interest on drawings was to be charged @ 18% p.a.
After preparing Profit and Loss Appropriation Account for the year ended
31st March, 2024, 72,000 and 48,000 were credited respectively to the
current accounts of Jain and Gupta as their share of divisible profit.
Prepare Current Accounts of Jain and Gupta. 3
18. (a) Aman, Raj and Suresh were partners in a firm sharing profits and
losses in the ratio of 5 : 3 : 8. Suresh was guaranteed a minimum
profit of 5,00,000 per year. Any deficiency on this account was to
be borne by Aman and Raj equally. The net profit of the firm for
the year ended 31st March, 2024 was 8,00,000.
Prepare Profit and Loss Appropriation Account of Aman, Raj and
Suresh for the year ended 31st March, 2024. 3
OR
(b) Jay and Vijay were partners in a firm sharing profits and losses in
the ratio of 7 : 3. Their respective fixed capitals were 9,00,000
and 7,00,000. The partnership deed provided for interest on
capital @ 8% per annum. After preparing the accounts for the year
ended 31st March, 2024, it was discovered that interest on capital
was allowed @ 9% per annum.
Showing your workings clearly, pass the necessary journal entry to
rectify the error. 3
19. (a) Sandhya Ltd. took over the assets of 50,00,000 and liabilities of
7,00,000 of Guman Ltd. for purchase consideration of 40,00,000.
The payment of purchase consideration was made by issue of 9%
debentures of 100 each at a premium of 25% to Guman Ltd.
Pass necessary journal entries for the above transactions in the
books of Sandhya Ltd. 3
OR
(b) Pass necessary journal entries in the books of RR Ltd. for issue of
debentures in the following cases : 3
(i) Issued 9,000, 9% debentures of 100 each at a discount of
10%, redeemable at a premium of 5% after 5 years.
(ii) Issued 5,000, 11% debentures of 100 each at a premium of
10%, redeemable at a premium of 5% after 5 years.

67/6/1 # 15 # P.T.O.
20. 12,00,000 15,00,000
2,00,000 10%
8,00,000, 9,00,000 7,00,000

3
21. 10 6,000 , 2
, 2 2
3

4
22. , 5 : 3 : 2 -
31 1 , 2024
3,00,000
60,000

(i) 10%
(ii)
1,20,000
(iii)
31 , 2024 4,50,000
4
23. ( ) 75 75,000 25

40

1,25,000 25,000

1,500 ,
, 2,000
,

67/6/1 # 16 #
20. Jeevan and Kavi were partners in a firm with capitals of 12,00,000 and
15,00,000 respectively. Annual salary of the partners was 2,00,000
each. The market rate of interest was 10%. During the previous three
years the profits were 8,00,000, 9,00,000 and 7,00,000. The goodwill
of the firm is to be valued at 2 years
super profits.
Calculate the goodwill of the firm. 3
21. JK Ltd. forfeited 6,000 equity shares of 10 each issued at a premium of
2 per share for the non-payment of first call of 2 per share. The second
and final call of 2 per share had not yet been made. The forfeited shares
were reissued at a discount of 3 per share fully paid up.
Pass necessary journal entries for the above transactions in the books of
4
22. Chandni, Bhanu and Garima were partners in a firm sharing profits and
losses in the ratio of 5 : 3 : 2. The firm closes its books on 31st March
every year. On 1st October, 2024, Chandni died. On that date her capital
account showed a credit balance of 3,00,000. On the date of Cha
death, the firm had a general reserve of 60,000. The partnership deed
provided that on the death of a partner, her representatives will be
entitled to the following :
(i) Balance in the capital account and interest on the same @ 10% p.a.
(ii) Her share in the goodwill of the firm. The goodwill of the firm on
1,20,000.
(iii) Her share in the profits of the firm to be calculated on the basis of

31st March, 2024 was 4,50,000.

4
23. (a) DDG Ltd. invited applications for issuing 75,000 equity shares of
75 each at a premium of 25 per share. The amount was payable
as follows :
On Application and Allotment 40 per share
On First and Final Call Balance (including premium)
Applications for 1,25,000 shares were received. Applications for
25,000 shares were rejected and the application money was
refunded. Shares were allotted to the remaining applicants on
pro-rata basis.
Excess money received with applications was adjusted towards
sums due on first and final call. Govind, to whom 1,500 shares
were allotted, failed to pay the first and final call. Namita who had
applied for 2,000 shares also failed to pay the first and final call.
Shares of both Govind and Namita were forfeited.
Pass the necessary journal entries for the above transactions in the
books of DDG Ltd. 6

OR

67/6/1 # 17 # P.T.O.
 ( ) 80 80,000

30

1,40,000 20,000

1,200 ,
2,400
,

- - 6

24. ( ) , 2:2:1 -
31 , 2024
31 , 2024 ,

() ()
90,000 65,000

10,000 1,50,000

3,00,000 90,000

5,000 85,000
3,60,000 2,50,000
2,40,000 4,50,000
1,00,000 7,00,000 - 1,00,000

11,00,000 11,00,000

67/6/1 # 18 #
 (b) Karan Ltd. invited applications for issuing 80,000 equity shares of
80 each at par. The amount was payable as follows :
On Application and Allotment 30 per share

On First and Final Call Balance

Applications for 1,40,000 shares were received. Applications for
20,000 shares were rejected and the money was refunded. Shares
were allotted on pro-rata basis to the remaining applicants. Excess
money received with applications was adjusted towards sums due
on first and final call. Ravi, who had applied for 1,200 shares, paid
his entire share money along with his application. Chaman, to
whom 2,400 shares were allotted, failed to pay the first and final

Pass necessary journal entries for the above transactions in the

-in-
-in- 6

24. (a) Ratan, Singh and Sharma were partners in a firm sharing profits
and losses in the ratio of 2 : 2 : 1. Their Balance Sheet on 31st
March, 2024 was as follows :

Balance Sheet of Ratan, Singh and Sharma as at

31st March, 2024
Amount Amount
Liabilities ( ) Assets ( )
Creditors 90,000 Bank 65,000
Outstanding Wages 10,000 Stock 1,50,000
General Reserve 3,00,000 Debtors 90,000
Less : Provision for
Capitals :
Doubtful Debts 5,000 85,000
Ratan 3,60,000 Plant and Machinery 2,50,000
Singh 2,40,000 Land and Building 4,50,000
Sharma 1,00,000 7,00,000 Profit and Loss A/c 1,00,000
11,00,000 11,00,000

67/6/1 # 19 # P.T.O.
 1 , 2024
(i) 2,00,000

(ii) 49,500
5%

(iii) 60,000

(iv)

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

() ()

2,00,000 50,000

2,00,000
4,00,000
3,00,000 7,00,000 7,000 1,93,000
2,50,000
3,50,000
57,000

9,00,000 9,00,000

67/6/1 # 20 #
 st
On 1 April, 2024 Sharma retired from the firm on the following
terms :
(i) Plant and Machinery is revalued at 2,00,000.
(ii) Land and Building was to be appreciated by 49,500 and
provision for bad debts will be maintained at 5% of the
debtors.
(iii)
60,000
through the capital accounts of remaining partners.
(iv) Sharma was paid in cash brought by Ratan and Singh in
such a way so as to make their capitals proportionate to
their new profit sharing ratio.
6

OR
(b) Mita and Vihaan were partners in a firm sharing profits and losses
in the ratio of 3 : 2. On 31st March, 2024 their Balance Sheet was
as follows :

Balance Sheet of Mita and Vihaan as at

31st March, 2024

Amount Amount
Liabilities Assets
( ) ( )

Sundry Creditors 2,00,000 Cash 50,000

Sundry Debtors
2,00,000
Capitals : Less : Provision for
doubtful debts 7,000 1,93,000

Mita 4,00,000 Stock 2, 50,000

Vihaan 3,00,000 7,00,000 Plant and Machinery 3,50,000

Patents 57,000

9,00,000 9,00,000

67/6/1 # 21 # P.T.O.
 (i) 3,00,000
4,12,500

(ii) 5%

(iii) 2,00,000, 4,00,000

1,20,000
(iv) 30,000

25. 7:3 -
31 , 2024

(i) 2,00,000 40%, 1,00,000

10%

(ii) 2,10,000
(iii) 5,00,000 5,40,000

(iv) 3,50,000 25,000

(v) 1,00,000
(vi) 8,000
6

67/6/1 # 22 #
 On the above date, Zen was admitted as a new partner for th

share in the profits on the following terms :

(i) Zen will bring 3,00,000 as his capital and his share of

the firm was valued at 4,12,500.

(ii) The provision for bad debts will be maintained at 5% of the
debtors.
(iii) Stock will be valued at 2,00,000, plant and machinery at
4,00,000 and patents at 1,20,000.
(iv) There was a bill of 30,000 for goods purchased which was
omitted from the books.
Pass necessary journal entries for the above transactions in the
6

25. Lalit and Madan were partners in a firm sharing profits and losses in the
ratio of 7 : 3. On 31st March, 2024 their firm was dissolved. After
transferring sundry assets (other than cash) and third party liabilities to
Realisation Account, the following transactions took place :
(i) The firm had stock of 2,00,000. 40% of this stock was taken over
by a creditor of 1,00,000 in full settlement of his claim. The
remaining stock was sold at a loss of 10%.
(ii) The remaining creditors were paid 2,10,000.
(iii) Plant and Machinery of 5,00,000 were accepted by Mrs. Madan
against the settlement of her loan of 5,40,000.
(iv) Debtors of 3,50,000 were sold to a debt collection agency who
charged a commission of 25,000.
(v) Investments of 1,00,000 were taken over by the partners in their
profit sharing ratio.
(vi) Expenses of dissolution were 8,000.

Pass necessary journal entries for the above transactions in the books of
the firm. 6

67/6/1 # 23 # P.T.O.
26. 31 , 2024
31 , 2024

I :
1
1 71,80,000

1
100 1,00,000 1,00,00,000

100 75,000 75,00,000

100 71,000 71,00,000

100 1,000 1,00,000

(20,000) 80,000
71,80,000

(i) 1

(A) 71,000
(B) 70,400
(C) 70,000
(D) 75,000

67/6/1 # 24 #
26. The following information has been obtained from the Balance Sheet of
Jay Ltd. as at 31st March, 2024 :
Balance Sheet of Jay Ltd. as at 31st March, 2024
Note Amount
Particulars No. ( )
I Equity and Liabilities :
1
(a) Share Capital 1 71,80,000

Notes to Accounts :
Note Amount Amount
Particulars ( ) ( )
No.
1 Authorised capital
1,00,000 Equity Shares of 100 each 1,00,00,000
Issued capital
75,000 Equity Shares of
100 each 75,00,000
Subscribed capital
Subscribed and fully paid up
71,000 Equity Shares of
100 each 71,00,000
Subscribed but not fully paid up
1,000 Equity Shares of 100 each 1,00,000
Less : Calls in Arrears (20,000) 80,000
71,80,000

Answer the following questions :

(i) The total number of shares offered to the public for subscription
are : 1
(A) 71,000
(B) 70,400
(C) 70,000
(D) 75,000

67/6/1 # 25 # P.T.O.
 (ii) 1
(A) 25,00,000
(B) 29,00,000
(C) 29,60,000
(D) 20,32,000

(iii) 1
(A) 71,80,000
(B) 71,00,000
(C) 80,00,000
(D) 1,00,00,000

(iv) 1
(A) 71,80,000
(B) 80,00,000
(C) 1,00,00,000
(D) 71,00,000

(v)
: 1
(A) 100 (B) 20
(C) 1,000 (D) 80,000

(vi)
: 1
(A) 20,000
(B) 80,000
(C) 1,00,000
(D) 71,00,000

67/6/1 # 26 #
 (ii) The amount of unissued share capital of the company is : 1
(A) 25,00,000

(B) 29,00,000
(C) 29,60,000
(D) 20,32,000

(iii) The subscribed capital of the company is : 1

(A) 71,80,000
(B) 71,00,000
(C) 80,00,000

(D) 1,00,00,000

(iv) The registered capital of the company is : 1

(A) 71,80,000

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

(D) 71,00,000

(v) The amount per share not received on the shares shown under
1
(A) 100 (B) 20
(C) 1,000 (D) 80,000

(vi)
1
(A) 20,000

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

(D) 71,00,000

67/6/1 # 27 # P.T.O.
 I

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

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

28. 25:1
? 1
(A) 73,000
(B) 41,000
(C) 62,000
(D) 8,00,000

29. ( ) - ? 1

(A)

(B)

(C)

(D)

67/6/1 # 28 #
 PART B
OPTION I
(Analysis of Financial Statements)

27. (a) The statement that shows changes in all items of financial
statements in absolute and percentage terms over a period of time,
for a firm, or between two firms is called _________. 1
(A) Common Size Statement
(B) Comparative Statement
(C) Cash Flow Statement
(D) Financial Statement

OR

(b) _______ ratios indicate the speed at which activities of the business
are being performed. 1
(A) Liquidity (B) Solvency
(C) Profitability (D) Activity

28.
transactions will result in decrease in this ratio ? 1
(A) Purchased goods for cash 73,000
(B) Cash collected from debtors 41,000
(C) Outstanding salaries paid 62,000
(D) Repayment of long term loan 8,00,000

29. (a) Which of the following transactions will result in outflow of cash ? 1
(A) Cash payments to and on behalf of the employees
(B) Cash receipts from royalties
(C) Issue of shares
(D) Dividend received from investments in other enterprises

OR

67/6/1 # 29 # P.T.O.
 ( ) - , 1

(A)

(B)

(C)

(D)

30.

I: 31.03.2023 -
2,00,000 31.03.2024 3,00,000
5,00,000

II : 31.03.2023 4,00,000
31.03.2024 5,00,000
1,00,000

1
(A)

(B)

(C) I II
(D) II I

31. 2013 III, I

- 3

( )
( )
( )

67/6/1 # 30 #
 (b) In case of a non-financial enterprise, payment of dividend is
considered as a/an : 1
(A) Operating Activity
(B) Investing Activity
(C) Financing Activity
(D) Both Investing and Financing Activity

30. There are two statements :

Statement I : The balance in the Statement of Profit and Loss in the
Balance Sheet of Samta Ltd. showed a deficit of 2,00,000
on 31.03.2023 and a surplus of 3,00,000 on 31.3.2024.
5,00,000 will be considered as profit earned during the
year for preparing Cash Flow Statement.
Statement II : On 31.03.2023 the goodwill account of Zeeta Ltd. showed
a balance of 4,00,000 and on 31.03.2024 it showed a
balance of 5,00,000. 1,00,000 will be considered as
goodwill acquired during the year for the preparation of
Cash Flow Statement.
Choose the correct option from the following : 1
(A) Both the Statements are true.
(B) Both the Statements are false.
(C) Statement I is true, Statement II is false.
(D) Statement II is true, Statement I is false.

31. Show 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) Stock-in-trade

(b) Motor Vehicles

(c) Provision for tax

67/6/1 # 31 # P.T.O.
32. 31 , 2023 31 , 2024
: 3

2022 23 2023 24

40,00,000 50,00,000
20,00,000 25,00,000
4,00,000 5,00,000
50%

33. ( ) 4

10% 15,00,000
2,00,000
25,00,000
7,00,000
31 , 2024
4,10,000 40,000

( ) : 4

5,00,000
20,00,000

2,00,000
10,00,000
20,000
1,45,000
50,000
85,000

67/6/1 # 32 #
32. From the following information, prepare a Common Size Statement of
Profit and Loss of QLM Ltd. for the year ended 31st March, 2023 and
31st March, 2024. 3
2022 23 2023 24
Particulars ( ) ( )
Revenue from operations 40,00,000 50,00,000
Cost of revenue from operations 20,00,000 25,00,000
Other expenses 4,00,000 5,00,000
Tax Rate 50%

33. (a) The following information has been obtained from the books of
Vivek Ltd. : 4

10% Debentures 15,00,000

Current Liabilities 2,00,000
Non-Current Assets 25,00,000
Current Assets 7,00,000
During the year ended 31st March, 2024, net profit after interest
and tax amounted to 4,10,000. Tax paid was 40,000.
Calculate Return on Investment.
OR
(b) : 4

Revenue from operations

Cash 5,00,000
Credit 20,00,000

Purchases
Cash 2,00,000
Credit 10,00,000
Carriage Inward 20,000
Salaries 1,45,000
Increase in inventory 50,000
Wages 85,000

67/6/1 # 33 # P.T.O.
34. 31 , 2024
6
31 , 2024
31.03.2024 31.03.2023
( ) ( )
I :

1.
37,00,000 25,00,000
1 5,00,000 12,00,000
2
2 20,00,000 18,00,000
3.
6,00,000 5,50,000
5,00,000 3,50,000
73,00,000 64,00,000
II :

1.
,

(i) , 3 45,00,000 41,00,000

(ii) 4 3,00,000 5,00,000
2.
5,00,000 2,00,000
8,00,000 10,00,000
10,00,000 2,00,000
2,00,000 4,00,000
73,00,000 64,00,000

67/6/1 # 34 #
34. From the following Balance Sheet of Bose Ltd. as at 31st March, 2024,

. 6

Balance Sheet of Bose Ltd. as at 31st March, 2024

Note 31.03.2024 31.03.2023
Particulars No. ( ) ( )
I Equity and Liabilities :
1.
(a) Share Capital 37,00,000 25,00,000
(b) Reserves and Surplus 1 5,00,000 12,00,000
2 Non-Current Liabilities

Long term borrowings 2 20,00,000 18,00,000

3. Current Liabilities
(a) Short term borrowings 6,00,000 5,50,000
(b) Trade Payables 5,00,000 3,50,000
Total 73,00,000 64,00,000
II Assets :
1. Non-Current Assets
(a) Property, Plant and
Equipment and Intangible
Assets
(i) Property, Plant and
Equipment 3 45,00,000 41,00,000
(ii) Intangible Assets 4 3,00,000 5,00,000
2. Current Assets
(a) Current Investments 5,00,000 2,00,000
(b) Inventories 8,00,000 10,00,000
(c) Trade Receivables 10,00,000 2,00,000
(d) Cash and Cash equivalents 2,00,000 4,00,000
Total 73,00,000 64,00,000

67/6/1 # 35 # P.T.O.
 :

31.3.2024 31.3.2023
( ) ( )

1
- 5,00,000 12,00,000

2
10% 20,00,000 18,00,000

3 ,
50,00,000 44,00,000
5,00,000 3,00,000
45,00,000 41,00,000

3,00,000 5,00,000

(i) 4,00,000 3,00,000 ,

70,000
(ii) 2,00,000 10% 31.3.2024

II

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

( ) -
? 1
(A) (B)
(C) (D)

67/6/1 # 36 #
 Notes to Accounts :

Note 31.3.2024 31.3.2023

Particulars ( ) ( )
No.
1 Reserves and Surplus
(i.e. Balance in the Statement of
Profit and Loss) 5,00,000 12,00,000
2 Long Term Borrowings
10% Debentures 20,00,000 18,00,000

3 Property, Plant and Equipment

Plant and Machinery 50,00,000 44,00,000
Less : Accumulated Depreciation 5,00,000 3,00,000
45,00,000 41,00,000
4 Intangible Assets
Goodwill 3,00,000 5,00,000
Additional Information :
(i) A piece of machinery costing 4,00,000 on which accumulated
depreciation was 3,00,000 was sold at a loss of 70,000.
(ii) 10% Debentures of 2,00,000 were issued on 31.3.2024.

PART B
OPTION II
(Computerised Accounting)

27. (a) Which of the following voucher records outflow of money from the
business ? 1
(A) Journal Voucher
(B) Receipt Voucher
(C) Contra Voucher
(D) Payment Voucher
OR
(b) The raw facts for any business application is known as which of
the following components of Computerised Accounting System ? 1
(A) Data (B) Hardware
(C) Software (D) Procedure

67/6/1 # 37 # P.T.O.
28. 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. ( ) 10 2024
XI 23
1 4

( ) 4

34.

(i) , (ii) ? 1+2 +2 =6

67/6/1 # 38 #
28. The outcome of an arithmetic expression or function is called : 1
(A) Horizontal value (B) Derived value
(C) Basic value (D) Vertical value

29. (a) How are ranges identified within Excel ? 1

(A) Using Hashtag (B) Using Vector
(C) Using Colour (D) Using Comma
OR
(b) Two important requirements of an accounting report are : 1
(A) Language processing and utility
(B) Storage and presentation
(C) System analysis and operations
(D) Timelines and relevance

30. Which chart element provides additional information about a data

marker to identify the details of data in data series ? 1
(A) Data label (B) Data table
(C) Data point (D) Data marks

31. 3

32. Which built-in function can be used to compute monthly instalments of

repayment of loan ? State its parameters also. 3

33. (a) Develop a code for Nisha, Roll No. 23 who took admission in
Section A, Class XI in the year 2024 in School No. 10 run by the
For A
its code is 1. 4
OR
(b) Explain number formatting. 4
34. Name the error which occurs when the column is not wide enough or a
negative date or time is used. How can it be corrected if (i) Error is due to
the width of column, and (ii) Date or time is negative ? 1+2 +2 =6

67/6/1 # 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—67/6/1)
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 totaled 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.
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 totaling 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 totaling on the title page.
● Wrong totaling 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.

67/6/1 Page 1 of 17
 ● 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 totaling 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 totaled 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.

67/6/1 Page 2 of 17
 MARKING SCHEME
SENIOR SCHOOL CERTIFICATE EXAMINATION, 2025
SUBJECT: ACCOUNTANCY 055 (PAPER CODE-67/6/1)
Q. EXPECTED ANSWER / VALUE POINTS Marks
No.
PART—A
(Accounting for Partnership Firms and Companies)
1. Q. A, B and C were partners in a firm……………….

Ans. (B) 3:3:2:2 1 mark

2. Q. Ravi, Mohan and Vinod were partners in a firm …………….

Ans. (D) 5 1 mark

3. Q. There are two statements Assertion(A) and Reason(R):

Ans. (C) Assertion(A) is correct, but Reason(R) is incorrect. 1 mark

4. Q.(a) A portion of the uncalled capital reserved by a company………

Ans. (C) Reserve capital 1 mark

OR OR

Q.(b) When applications for more shares of a company are received……

Ans. (A) Over subscription 1 mark

5. Q.(a) Manav, Mayank and Manish were partners……………..

Ans. (A) 1 mark

Particulars Dr. Amount(₹) Cr. Amount(₹)

(A) Manav’s Capital A/c Dr. 30,000
Mayank’s Capital A/c Dr. 18,000
Manish’s Capital A/c Dr. 12,000
To Profit and Loss A/c 60,000

OR OR

Q.(b) Murthy and Madhavan were partners……………………..

Ans. (C) ₹84,000 1 mark

6. Q.(a) Manas Ltd. forfeited 600 shares……………….

Ans. (D) Credited by ₹3,000 1 mark

OR OR

Q.(b) Rajesh Ltd. forfeited 300 equity shares……………………

Ans. (A) ₹10,000 1 mark

7. Q. Shyamla Ltd. purchased machinery of ………………………..

Ans. (A) 10,000 1 mark

8. Q.(a) Mohan, a partner, withdrew ………………………………

Ans. (B) ₹4,800 1 mark

67/6/1 Page 3 of 17
 OR OR

Q.(b) The following account is debited …………………………

Ans. (C) Interest on Capital Account 1 mark

9. Q. Daman, Mohit and Paras were partners in a firm………………

Ans. (A) 21:11 1 mark

10. Q. In the event of dissolution of a partnership firm, ……………….

Ans. (D) (i) First out of profits, (ii) Next out of capital of partners, (iii) Lastly, if
necessary, by the partners individually in their profit sharing ratio. 1 mark
11. Q. Ashok and Avinash were partners in a firm……………………..

Ans. (A) Reduced by ₹2,50,000 1 mark

12. Q. Debentures which can be transferred by way of delivery………

Ans. (D) Bearer Debentures 1 mark

13. Q. Java Ltd. forfeited 600 equity shares ………………………………

Ans. (B) ₹30,000 1 mark

14. Q. Uma and Veena were partners in a firm sharing profits and losses……..

Ans. (A) ₹5,76,000 1 mark

15. Q.(a) Sona, Mona and Raghav were partners in a firm………………….

Ans. (B) ₹1,80,000 1 mark

OR OR

Q.(b) Giri and Shyam were partners in a firm………………………….

Ans. (C) ₹3,40,000 1 mark

16. Q. Sharma, Verma and Khan were partners in a firm…………………..

Ans. (B) Profit and Loss Suspense Account will be debited by ₹90,000 and Khan’s Capital
Account will be credited by ₹90,000. 1 mark
17. Q. On 1st April, 2023, Jain and Gupta……………………………………….

Ans.
Dr. Partners’ Current A/c Cr.
Particulars Jain(₹) Gupta(₹) Particulars Jain(₹) Gupta(₹)
To Drawings A/c ½ 50,000 60,000 By Interest on capital 1,42,500 1,35,000
A/c 1
To Interest on By Profit & Loss
drawings A/c ½ 4,500 5,400 Appropriation A/c ½ 72,000 48,000 3 marks
To balance c/d ½ 1,60,000 1,17,600
2,14,500 1,83,000 2,14,500 1,83,000
18. Q. (a) Aman, Raj and Suresh were partners in a firm sharing…………………..

Ans.

67/6/1 Page 4 of 17
 In the books of Aman, Raj and Suresh
Profit and Loss Appropriation A/c
Dr. For the year ending 31 March, 2024 Cr.
Particulars Amount(₹) Particulars Amount(₹)
To Profit transferred to: By Profit and Loss A/c 8,00,000
Aman’s capital A/c 2,50,000 (Net Profit) 1
Less: Deficiency
borne (50,000) 2,00,000 ½

Raj’s capital A/c 1,50,000

Less: Deficiency
borne (50,000) 1,00,000 ½
3 marks
Suresh’s capital A/c 4,00,000
Add: Deficiency
recovered from
Aman 50,000
Raj 50,000 5,00,000 1
8,00,000 8,00,000

OR OR

Q.(b) Jay and Vijay were partners in a firm……………………….

Ans.

In the books of Jay and Vijay

Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
2024
April 1 Vijay’s Current A/c Dr. 2,200
1½
To Jay’s Current A/c 2,200
(Rectification entry for interest
on capital provided at 9%
instead of 8%)
+

Working notes:

Adjustment Table
Particulars Jay(₹) Vijay(₹) Total(₹)
1% Excess Interest on capital taken back 9,000 Dr. 7,000 Dr. 16,000 Cr.

1½
Profit of ₹16,000 distributed in the profit 11,200 Cr. 4,800 Cr. 16,000 Dr. =
sharing ratio 7:3 3 marks
Net Effect 2,200 Cr. 2,200 Dr. ------
(Note: Full credit is to be given if an examinee has shown working notes correctly in any
other manner)
19. Q. (a) Sandhya Ltd. took over the assets…………………….

Ans.
67/6/1 Page 5 of 17
 In the books of Sandhya Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
Sundry Assets A/c Dr. 50,00,000
To Sundry Liabilities A/c 7,00,000 1
To Guman Ltd. 40,00,000
To Capital Reserve A/c 3,00,000 +
(Assets and liabilities of Guman Ltd.
taken over )
Guman Ltd. Dr. 40,00,000
To 9% Debentures A/c 32,00,000
To Securities Premium A/c 8,00,000 2
(Purchase consideration settled by
issue of 32,000 9% debentures of =
₹100 each at 25% premium) 3 marks

OR OR

Q.(b) Pass necessary journal entries in the books of ………………..

Ans.
In the books of RR Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
(i)
Bank A/c Dr. 8,10,000
To Debenture Application and Allotment A/c 8,10,000
(Application money received on 9000 9% ½
debentures of ₹100 each issued at 10%
discount)
Debenture Application and Allotment A/c Dr. 8,10,000
Loss on issue of Debentures A/c Dr. 1,35,000
To 9% Debentures A/c 9,00,000 +
To Premium on Redemption of 45,000
Debentures A/c
(9,000 9% debentures of ₹100 each, issued
at 10% discount, redeemable at 5%
premium)

OR 1
Debenture Application and Allotment A/c Dr. 8,10,000
Discount on issue of Debentures A/c Dr. 90,000
Loss on issue of Debentures A/c Dr. 45,000
To 9% Debentures A/c 9,00,000
To Premium on Redemption of 45,000
Debentures A/c
+
(9,000 9% debentures of ₹100 each, issued at
10% discount, redeemable at 5% premium)

Date Particulars L.F. Dr. Cr.

Amount(₹) Amount(₹)
(ii)
Bank A/c Dr. 5,50,000 ½
To Debenture Application and Allotment A/c 5,50,000
67/6/1 Page 6 of 17
 (Application money received on 5,000 11%
debentures of ₹100 each issued at 10% +
premium)
Debenture Application and Allotment A/c Dr. 5,50,000
Loss on issue of Debentures A/c Dr. 25,000
To 11% Debentures A/c 5,00,000 1
To Securities Premium A/c 50,000
To Premium on redemption of 25,000 =
Debentures A/c 3 marks
(5,000 11% debentures of ₹100 each, issued
at 10% premium, redeemable at 5%
premium )

20. Q. Jeevan and Kavi were partners in a firm with capitals …………………

Ans.
Goodwill = Average Super profit/Super Profit x Number of years’ purchase

Super Profits= Average Profits – Normal Profits

Average profits= 8,00,000+9,00,000+ 7,00,000

3
= ₹8,00,000 1½
Average profits after salary to partners= 8,00,000 – 4,00,000
= ₹4,00,000

Normal Profits = Capital employed x normal rate of return/100

Normal profits = (12,00,000+15,00,000) x 10/100

= ₹2,70,000

Average Super Profit/Super Profit= 4,00,000 - 2,70,000 1½

= ₹1,30,000

Goodwill = 1,30,000 x 2
= ₹2,60,000

Alternatively,

Interest on capital employed = (12,00,000+15,00,000) x 10/100

= 27,00,000 x 10/100 = ₹ 2,70,000 3 marks
Add: Partner’s salary = 2,00,000 x 2 =₹ 4,00,000
Normal Profits = 6,70,000 1½

Average profits= 8,00,000+9,00,000+ 7,00,000

3
= ₹8,00,000
Average Super profit /Super Profit = Average Profit – Normal Profit
= 8,00,000 - 6,70,000
= ₹ 1,30,000
Goodwill = Average Super profit / Super profit x Number of years’ purchase

= 1,30,000 x 2 1½
= ₹2,60,000
21. Q. JK Ltd. forfeited 6,000 equity shares……………………………..

67/6/1 Page 7 of 17
 Ans.

In the books of JK Ltd.

Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
Equity Share Capital A/c Dr. 48,000
To Shares Forfeited/Forfeiture A/c 36,000
To Equity Share First Call A/c / 12,000
To Calls in Arrears A/c
(6,000 equity shares, ₹8 per share called up,
forfeited for non payment of first call of ₹2
per share)
Bank A/c Dr. 42,000
Shares Forfeited/Forfeiture A/c Dr. 18,000 1x3
To Equity Share Capital A/c 60,000
(6,000 equity shares re-issued at a discount =3
of ₹3 per share, fully paid-up)
Shares Forfeited/Forfeiture A/c Dr. 18,000
To Capital Reserve A/c 18,000
(Gain on re-issue of shares transferred to
capital reserve)

Dr. Share Forfeiture/Forfeited A/c Cr. +

Particulars Amount(₹) Particulars Amount(₹)
To Equity Share Capital A/c 18,000 By Equity Share Capital A/c 36,000
To Capital Reserve A/c 18,000
1
36,000 36,000
=4
marks

22. Q. Chandni, Bhanu and Garima were partners ……………….

Ans.
In the books of Chandni, Bhanu and Garima
Dr. Chandni’s Capital A/c Cr.
Particulars Amount(₹) Particulars Amount(₹)
To Chandni’s Executor’s A/c 5,17,500 By Balance b/d ½ 3,00,000
½ By General Reserve A/c½ 30,000
By Interest on capital A/c½ 15,000
By Bhanu’s capital A/c½ 36,000
By Garima’s capital A/c ½ 24,000
By Profit and Loss SuspenseA/c 1,12,500
1
4 marks
5,17,500 5,17,500
23. Q. (a) DDG Ltd. invited applications for ………………………………

Ans.

In the books of DDG Ltd.

Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
Bank A/c Dr. 50,00,000
To Equity Share Application and AllotmentA/c 50,00,000 1

67/6/1 Page 8 of 17
 (Amount received at the time of application on
1,25,000 equity shares) +
Equity Share Application and Allotment A/c Dr. 50,00,000
To Equity Share Capital A/c 30,00,000
To Bank A/c 10,00,000
To Calls in Advance A/c 10,00,000 1½
(Money received at the time of application
transferred to share capital account, amount
refunded for applications rejected and balance +
transferred to call in advance account)
Equity Share First and Final Call A/c Dr. 45,00,000
To Equity Share Capital A/c 26,25,000 1
To Securities Premium A/c 18,75,000
(First and final call due on 75,000 equity
shares @ ₹60 per share including premium of +
₹25 per share)

Bank A/c Dr. 33,60,000

Calls in Advance A/c Dr. 10,00,000
Calls in Arrears A/c Dr. 1,40,000 1½
To Equity Share First and Final Call A/c 45,00,000
(First and final call money received except for +
3,000 equity shares)
OR
Bank A/c Dr. 33,60,000
Calls in Advance A/c Dr. 10,00,000
To Equity Share First and Final Call A/c 43,60,000
(First and final call money received except for
3,000 equity shares)
Equity Share Capital A/c Dr. 1,12,500
Securities Premium A/c Dr. 37,500
To Forfeited Shares A/c 80,000 ½
To Calls in Arrears A/c/ 70,000
To Equity Share First and Final call A/c +
(1,500 equity shares of ₹75 each, forfeited for
non-payment of first and final call)
Equity Share Capital A/c Dr. 1,12,500
Securities Premium A/c Dr. 37,500 ½
To Forfeited Shares A/c 80,000
To Calls in Arrears A/c / 70,000 =
To Equity Share First and Final call A/c
(1,500 equity shares of ₹75 each, forfeited for 6 marks
non-payment of first and final call)

(Note: If an examinee has given combined entry for the above two entries of forfeiture, full
credit is to be given)
OR
OR

Q.(b) Karan Ltd. invited applications for issuing 80,000 equity shares……………
Ans.
In the books of Karan Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
Bank A/c Dr 42,60,000
To Equity Share Application and Allotment A/c 42,60,000 1

67/6/1 Page 9 of 17
 (Amount received at the time of application on
1,40,000 equity shares)
Equity Share Application and Allotment A/c Dr. 42,60,000 +
To Equity Share Capital A/c 24,00,000
To Bank A/c 6,32,000 1½
To Calls in Advance A/c 12,28,000
(Money received at the time of application
transferred to share capital account, amount +
refunded for applications rejected and balance
transferred to call in advance account)
Equity Share First and Final Call A/c Dr. 40,00,000
To Equity Share Capital A/c 40,00,000 1
(First and final call due on 80,000 equity
shares @ ₹50 per share)
Bank A/c Dr. 26,88,000 +
Calls in Advance A/c Dr. 12,28,000
Calls in Arrears A/c Dr. 84,000
To Equity Share First and Final Call A/c 40,00,000 1½
(First and final call money received except for
2,400 equity shares) +
Equity Share Capital A/c Dr. 1,92,000
To Forfeited Shares A/c 1,08,000
To Calls in Arrears A/c 84,000 1
(2,400 equity shares of ₹80 each forfeited for =
non-payment of first and final call)
6 marks

24. Q.(a) Ratan, Singh and Sharma were partners in a firm sharing…………………….

Ans.
In the books of Ratan, Singh and Sharma
Dr. Revaluation A/c Cr.
Particulars Amount(₹) Particulars Amount(₹)
To Plant and Machinery A/c 50,000 By Land and Building A/c 49,500
By Provision for bad debts A/c 500 ½x3
50,000 50,000 =1½

Dr. Partners’ Capital A/c Cr.

Particulars Ratan Singh Sharma Particulars Ratan Singh Sharma
(₹) (₹) (₹) (₹) (₹) (₹) +
To Profit 40,000 40,000 20,000 By Balance b/d 3,60,000 2,40,000 1,00,000
and loss A/c ½
½
To Sharma’s 30,000 30,000 By General 1,20,000 1,20,000 60,000
capital A/c Reserve A/c
½ ½ 4½
To Bank/Cash 2,00,000 By Ratan’s
A/c capital A/c 30,000
½ ½

To Balance 4,50,000 4,50,000 By Singh’s =6marks

c/d capital A/c 30,000
½ ½
By Bank A/c 40,000 1,60,000
½
5,20,000 5,20,000 2,20,000 5,20,000 5,20,000 2,20,000
OR
OR
67/6/1 Page 10 of 17
 Q.(b) Mita and Vihaan were partners in a firm……………………

Ans.

In the books of Mita, Vihaan and Zen

Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
2024 Cash A/c Dr. 4,10,000
March 31 To Zen’s capital A/c 3,00,000 1½
To Premium for Goodwill A/c 1,10,000
(Cash brought by Zen as capital and his share
of goodwill ) +
,, Premium for Goodwill A/c Dr. 1,10,000
To Mita’s capital A/c 66,000 1
To Vihaan’s capital A/c 44,000
(Zen’s share of goodwill distributed between +
the old partners in sacrificing ratio)
,, Revaluation A/c Dr. 83,000
To Provision for Bad Debts A/c 3,000 1½
To Stock A/c 50,000
To Outstanding Bill for Purchases A/c 30,000 +
(Revaluation account debited for increase in
provision for bad debts, decrease in stock and
recording bill for purchases)
,, Plant and Machinery A/c Dr. 50,000 1
Patents A/c Dr. 63,000
To Revaluation A/c 1,13,000 +
(Plant and machinery and patents revalued)
,, Revaluation A/c Dr. 30,000
To Mita’s capital A/c 18,000
To Vihaan’s capital A/c 12,000 1
(Gain on revaluation transferred to old
partners in old ratio) =6
marks
(Note: If an examinee has passed separate entry for each revaluation, full credit is to be
given)
25. Q. Lalit and Madan were partners in a firm ………………………..

Ans.

In the books of Lalit and Madan

Journal
Date Particulars L.F. Dr. Cr.
Amount(₹) Amount(₹)
2024 (i) Cash/Bank A/c Dr. 1,08,000
March 31 To Realisation A/c 1,08,000
(Part of stock sold at loss of 10%)
,, (ii) Realisation A/c Dr. 2,10,000
To Cash/Bank A/c 2,10,000
(Creditors paid)

,, (iii) No entry

,, (iv) Cash/Bank A/c Dr. 3,25,000

To Realisation A/c 3,25,000

67/6/1 Page 11 of 17
 (Cash recovered by debt collection agency after
debiting their commission)
,, (v) Lalit’s capital A/c Dr. 70,000
Madan’s capital A/c Dr. 30,000
To Realisation A/c 1,00,000
(Investments taken over by partners in profit
sharing ratio) 1x6
,, (vi) Realisation A/c Dr. 8,000 =6
To Cash/Bank A/c 8,000 marks
(Realisation expenses paid)

26. Q. The following information has been obtained from………………

Ans.

(i) (D) 75,000

(ii) (A) ₹25,00,000
(iii) (A) ₹71,80,000
(iv) ( C) ₹1,00,00,000
(v) (B) ₹20 1x6
(vi) (B) ₹80,000 =6
marks

PART B
OPTION-I
(Analysis of Financial Statements)
27. Q.(a) The statement that shows changes in all items……….

Ans. (B) Comparative Statement 1 mark

OR OR

Q.(b) ____ratios indicate the speed at which ………………………

Ans. (D) Activity 1 mark

28. Q. The Current Ratio of Magnum Ltd. is 2.5:1………………

Ans. (D) Repayment of long term loan ₹8,00,000 1 mark

29. Q. (a) Which of the following transactions…………………

Ans. (A) Cash payments to and on behalf of the employees 1 mark

OR OR

Q.(b) In case of a non-financial enterprise,………………..

Ans. (C) Financing Activity 1 mark

30. Q. There are two statements…………………………

Ans. (A) Both the Statements are true. 1 mark

31. Q. Show the following items under major heads………………….

Ans.

67/6/1 Page 12 of 17
 Items Major head Sub-head
(a) Stock-in-Trade Current Assets Inventories
(b) Motor Vehicles Non Current Assets Property, Plant and
Equipment and Intangible
Assets:
Property, Plant and ½x6
Equipment
(c) Provision for tax Current Liabilities Short Term Provisions =3
marks

32. Q. From the following information, ………………

Ans.
Common Size Statement of Profit and Loss of QLM Ltd.
for the years ended 31 March 2023 and 2024
Particulars Note Absolute Amounts(₹) Percentage of
No. Revenue from
Operations(%)
2022-23 2023-24 2022-23 2023-24
Revenue from Operations 40,00,000 50,00,000 100 100 ½

Less: Expenses:
Cost of Revenue from Operations 20,00,000 25,00,000 50 50 ½
Other Expenses 4,00,000 5,00,000 10 10 ½

Total Expenses 24,00,000 30,00,000 60 60

Profit before Tax 16,00,000 20,00,000 40 40 ½
Less: Tax @50% 8,00,000 10,00,000 20 20 ½
½
Profit after Tax 8,00,000 10,00,000 20 20
=3
marks
33. Q.(a) The following information has been…………………………..

Ans. Return on Investment= Net Profit before interest and tax x 100
Capital employed

Interest on 10% debentures = 10/100 x 15,00,000

= ₹1,50,000
1
Net Profit before interest and tax
=Net Profit after interest and tax + Tax + Interest on 10%debentures
= 4,10,000 + 40,000 + 1,50,000
= ₹6,00,000 1

Capital employed = Non Current Assets + Current Assets – Current Liabilities

= 25,00,000 + 7,00,000 – 2,00,000
= ₹30,00,000 1

Return on Investment= Net Profit before interest and tax x 100

Capital employed

Return on Investment = 6,00,000 x 100

30,00,000 1x4
1
= 20% =4
marks

67/6/1 Page 13 of 17
 OR OR

Q.(b) Calculate ‘Operating Ratio’ …………………………….

Ans.

Operating Ratio = Operating Cost x 100………………………………1

Revenue from operations

Operating Cost = Cost of revenue from operations + Operating expenses

Cost of revenue from operations =2,00,000+ 10,00,000+ 20,000-50,000+85,000

= ₹12,55,000

Operating expenses = ₹1,45,000

Operating Cost = 12,55,000 + 1,45,000

= ₹14,00,000 1

Revenue from operations = Cash Revenue from Operations + Credit Revenue from Operations
= 5,00,000 + 20,00,000
= ₹25,00,000
1 1x4

Operating Ratio = Operating Cost x 100 =4 marks

Revenue from operations

Operating ratio = 14,00,000 x 100

25,00,000 1
=56%
34. Q. From the following Balance Sheet of Bose Ltd. ……………………………..

Ans.
Calculation of Cash Flows from Operating Activities:
Particulars Amount(₹)
Net Profit before Tax and Extraordinary Items (7,00,000) ½

Add: Non-Cash & Non-Operating Items:

Depreciation on Machinery 5,00,000 ½
Goodwill written off 2,00,000 ½
Interest on 10% debentures 1,80,000 ½
Loss on sale of Machinery 70,000 ½ 9,50,000
Operating Profit before Working Capital Changes 2,50,000 ½
Add: Increase in Current Liabilities
& Decrease in Current Assets
Increase in Trade Payables 1,50,000 ½
Decrease in Inventories 2,00,000 ½

Less: Decrease in Current Liabilities

& Increase in Current Assets
Increase in Trade Receivables (8,00,000) ½ (4,50,000)
(1/2 x10)
Cash generated from operations (2,00,000)
Less: Tax paid NIL = 5
Net cash used in operating activities (2,00,000) ½
+
67/6/1 Page 14 of 17
 Working notes:
Dr. Accumulated Depreciation A/c Cr.
Particulars Amount Particulars Amount
(₹) (₹)
To Plant and Machinery A/c 3,00,000 By Balance b/d 3,00,000 1
To Balance c/d 5,00,000 By Statement of Profit & Loss 5,00,000
8,00,000 8,00,000

Dr. Plant and Machinery A/c Cr.

Particulars Amount Particulars Amount
(₹) (₹)
To Balance b/d 44,00,000 By Accumulated Depreciation A/c 3,00,000
By Bank A/c 30,000
To Bank A/c 10,00,000 By Statement of Profit & Loss- 70,000
(Balancing figure) Loss on sale of machinery
By Balance c/d 50,00,000
54,00,000 54,00,000 =6
marks
PART B
OPTION-II
(Computerised Accounting)
27. Q.(a) Which of the following voucher………………………….

Ans. (D) Payment Voucher 1 mark

OR

Q.(b) The raw facts for any business……………………………. OR

Ans. (A) Data 1 mark

28. Q. The outcome of an arithmetic expression……………………..

Ans. (B) Derived value 1 mark

29. Q. (a) How are ranges identified………………………

Ans. (C) Using Colour 1 mark

OR
OR
Q.(b) Two important requirements of…………………..

Ans. (D) Timelines and relevance 1 mark

30. Q. Which chart element ……………………….

Ans. (A) Data label 1 mark

31. Q. State the phases of …………………………………………….

Ans. Phases of accounting cycle:

• Business transactions are analysed and the transactions are recorded in the journal.
• Journal entries are posted to ledger accounts. ½x6
• A trial balance is prepared from balances of accounts.
• Accounts are reviewed and the necessary adjustments made. Adjustments are posted in =3
the ledger to prepare adjusted trial balance. marks
• Adjusted trial balance is used to prepare the balance sheet and profit and loss account.
• Financial statements are prepared from the finally adjusted ledger accounts and
balancing the accounts.
32. Q. Which built-in function can be used to compute……………………..

67/6/1 Page 15 of 17
 Ans. PMT is the built in function which can be used to compute monthly instalments of ½
repayment of loan.
Following are the parameters: +
Rate: Interest rate per period for the loan.
Nper: Total number of payments for the loan. Its unit (year) should match with the unit of the 2½
interest rate.
PV: Present Value : loan amount
FV: Future Value, which is taken as 0 is the balance at the end of the loan period. =3
Type: Whether payment is made at the beginning (value=1) or at the end (value=0) of the period. marks
33. Q.(a) Develop a code for Nisha, Roll No. 23 who took……………………

Ans. The code for Nisha will be 10 24 1 11 1 23.

4 marks

OR
OR
Q.(b) Explain number ………………………………………………………

Ans. Following are the number formatting tools:

Number formatting: Number formatting includes adding percentage symbol(%) commas(,),
decimal(.), decimal places and currency sign($) etc. date time scientific values and as well as
some special formats to a spreadsheet. The type of number format can be determined once the
date is entered into the cell.
Here are some examples.
Currency
Percentage 4 marks
Dates (with explanation)
34. Q. Name the error that occurs when the column is not wide enough…………..

Ans. The error : Correct a # # # # # Error occurs when the column is not wide enough or
negative date or time is used. 1
(i) When length of the column is not wide enough then:
(1) Select the column by clicking the column header.
(2) On the HOME tab, in the Cells group, click format, and then click ‘AutoFit Column
Width’. Alternatively also we can double click the boundary to the right of the column +
heading.
(3) Select the column. 2½
(4) On the ‘HOME’ tab, in the Cells group, click format, click format Cells, and then click
Alignment tab. +
(5) Select the shrink to fit.
(ii) Dates and times are negative numbers, then:
When a date or time is typed in a cell, it appears in a default date and time format which is based
on regional date and time setting that is specified in Windows Control Panel and changes when
changes are made to those settings. 2½
67/6/1 Page 16 of 17
 • If we are using the 1900 date system, dates and times in Excel must be positive.
• To subtract date and time be sure to make formula correctly. =6
• If the formula is correct but result is still a negative value, display the value by marks
formatting the cell with a format that is not a date or time format.

67/6/1 Page 17 of 17