Cbse Class 12 Marking Scheme For Iop Comptt Examination 2017 Accountancy Delhi

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Senior School Certificate Examination
July -2016-17
Compartment Marking Scheme - Accountancy (Delhi) 67/1/1, 67/1/2, 67/1/3
General Instructions:-
1. 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.
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given
only after ensuring that there is no significant variation in the marking of individual evaluatorupee foradian
3. 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.
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given
the narrations.
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
10. In theory questions, credit is to be given for the content and not for the format.
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
12. Avoid the following common types of errors committed by the Examiners in the past-.
Ø Leaving answer or part thereof unassessed in an answer script
Ø Giving more marks for an answer than assigned to it or deviation from the marking scheme.
Ø Wrong transference of marks from the inside pages of the answer book to the title page.
Ø Wrong question wise totaling on the title page.
Ø Wrong totaling of marks of the two columns on the title page
Ø Wrong grand total
Ø Marks in words and figures not tallying
Ø Wrong transference to marks from the answer book to award list
Ø Answers marked as correct but marks not awarded.
Ø Half or a part of answer marked correct and the rest as wrong but no marks awarded.
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (X) and awarded zero(0)
Marks.
14. Any unassessed 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.
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the
actual evaluation.
16. 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.

1
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Q. Set No. Marking Scheme Compartment 2016-‐17 Distribution

of marks
67/ 67/ 67/ Accountancy (055)
1/1 1/2 1/3
Delhi – 67/1/1
Expected Answers / Value points
1 3 5 Q. Why should................................admission?
Ans. A new partner should contribute towards the goodwill so as to compensate the
existing partners for the sacrifice they make in favour of the new partner. 1 Mark

2 4 6 Q. X,Y and Z.......................................date of Z’s retirement.
Ans. Books of the X,Y,Z
Journal
Date Particulars LF Dr (`) Cr (`)
Z’s Capital A/c .........................................Dr. 85,0000
To Cash / Bank A/c 5,000
To Z’s Loan A/c 80,000
[Amount due to Z on his retirement 1 Mark
transferred to his loan A/c after payment

of Rs.5,000]
3 5 1 Q. State any................................................court’s orders.
Ans. The court may order a partnership firm to be dissolved on any
of the following grounds: (any one of the following) 1 Mark
(a) when a partner becomes insane;
(b) when a partner becomes permanently incapable of performing his duties as a
partner;
(c) when a partner is guilty of misconduct which is likely to adversely affect the
business of the firm;
(d) when a partner persistently commits breach of partnership agreement;
(e) when a partner has transferred the whole of his interest in the firm to a third party;
(f) when the business of the firm cannot be carried on except at a loss; or
(g) when, on any ground, the court regards dissolution to be just and equitable.
4 6 2 Q. Change in ...............................................................of your answer.
Ans. Change in Profit Sharing Ratio amounts to Dissolution of partnership and not ½
dissolution of firm as the existing agreement comes to an end and the firm continues ½
under the new agreement. =1 Mark
5 1 3 Q. In which ratio.............................................. retiring partner?
Ans. Remaining partners acquire the share of profit of the retiring partner in Gaining ratio. 1 Mark
6 2 4 Q. What is meant...................................... Option Plan’?
Ans. Employee Stock Option Plan means option granted by the company to its employees
and employee directors to subscribe the shares of the company at a price that is lower 1 Mark
than the market price. But it is not an obligation on the employee to subscribe for it.
7 9 8 Q. The total capital............................. goodwill of the firm.
Ans. Goodwill = Super Profits x No. of years’ purchase ;
Super Profits = Average Profits – Normal Profits ;
Normal Profits = Capital employed x Normal rate of Return 1
100
i.e. 1,00,000 x 15/100 = 15,000
Average Profits = 30,000 + 36,000 + 42,000 = 36,000 1

3

2

Super Profits = 36,000 -‐15,000 = 21,000 1
Goodwill = 21,000 x 2 = 42,000 = 3marks
8 -‐ -‐ Q. Madhur Ltd. took over ........................................... of Madhur Ltd.
Ans. Books of the Madhur Ltd.
Journal
Date Particulars LF Dr. Amt. Cr. Amt.
(`) (` )
(i) Assets A/c .......................................Dr. 3,90,000

Goodwill A/c ..................................Dr. 50,000

To Liabilities A/c 40,000
To Rasova Ltd. 4,00,000 1 ½
[Assets and Liabilities of Rasova Ltd. taken
over]
(ii) Rasova Ltd. ....................................Dr. 4,00,000

To Bank a/c 80,000

To Equity share Capital A/c 2,00,000
To Securities Premium Reserve A/c 1,20,000 1 ½
[ 20% Payment made to Rasova Ltd. by
cheque and balance settled by issue of equity = 3
shares at a premium of 60%] marks
OR

Rasova Ltd. ....................................Dr. 80,000

To Bank a/c 80,000
(20% payment made to Rasova Ltd. By ½
cheque)
Rasova Ltd. Dr. 3,20,000
To Equity Share Capital A/c 2,00,000

To Securities Premium Reserve A/c 1,20,000

(Balance due to Rasova Ltd. settled by issue
1
of equity shares at a premium of 60%)

9 -‐ -‐ Q. Xansa Ltd. offered ......................................................., prepare ‘ Notes to Accounts’.
Ans. Balance Sheet of Xansa Ltd.
As at ....................(As per revised schedule VI)
Particulars Note No. Amount ` Amount `
Current year Previous year
EQUITY & LIABILITIES
I Shareholder’s funds :
a) Share Capital 1 19,60,000 -‐-‐-‐-‐-‐-‐-‐-‐
Notes to Accounts : 1
Particulars ( ` )
(1) Share Capital
Authorised Capital :
.................equity shares of ` 100 each xxxxxxxxxx
Issued Capital ½
22,000 equity shares of ` 100 each
Subscribed Capital 22,00,000
Subscribed and fully paid ½
3

19,000 shares of ` 100 each
Add : Forfeited shares A/c 19,00,000
60,000 ½ + ½

19,60,000 =3 Marks
10 8 7 Q. Anuj, Manoj and Disha ..................................... above on Disha’s Death.
Ans. Books of Anuj, Manoj and Disha
Journal
2016 (a) Anuj’s Capital A/c .........................Dr. 3,000
July 1 Manoj’s capital A/c ......................Dr. 3,000
To Disha’s Capital A/c 6,000
[ Disha’s share of goodwill adjusted to Anuj 1
and Manoj in their gaining ratio]
July 1 (b) Profit & Loss Suspense A/c ...............Dr. 12,000
[ Disha’s share of profits till her death 1
credited to her A/c]
July 1 (c) Disha’s Capital A/c ...........................Dr. 1,18,000
To Disha’s Executors’ A/c 1,18,000
[Balance of Disha’s capital A/c transferred 1
to her executors’ A/c] =3 Marks

11 12 11 Q. Tvisha and Divya were ....................................... behaviour of Tvisha and Divya.
Ans.
(a) Books of the Tvisha and Divya
Journal
2016 Divya’s Capital A/c......................... Dr. 5,000
Apr 1 To Tvisha’s Capital A/c 5,000 2
[ Treatment of goodwill on change in Profit
sharing ratio ]
(b) Values (Any two):
• Compassion,
• Sensitivity towards underprivileged, 1+1
• Optimum utilisation of resources, =
• Concern for society 4 Marks
(Or any other suitable value)
12 11 12 Q Prayuj Ltd. forfeited........................... share forfeited Account.
Ans. Books of the Prayuj Ltd.
Journal
(i) Share Capital A/c ...............................Dr. 20,000
To Forfeited Shares A/c 14,000
To Calls in arrear A/c 6,000
[2,000 shares of ` 10 each forfeited for 1
non payment of ` 6,000]
(ii) Bank A/c ........................................Dr. 450
Forfeited Shares A/c ......................Dr. 50
To Share Capital A/c 500
[ 50 of the forfeited shares reissued for ` 1
9 per share]
4

(iii) Forfeited Shares A/c ......................Dr. 300
To Capital Reserve A/c 300
[Gain on reissue of shares transferred to
capital reserve A/c] 1

Forfeited Shares A/c
Dr Cr
Particulars Amt (`) Particulars Amt (`)
To Equity Share Capital A/c 50 By Equity Share Capital A/c 14,000
To Balance c/d 13,650 1
14,000 14,000 =
4 Marks

13 -‐ -‐ Q. (a) Journalise the following.......................................... Investment and Interest.

Ans.
(a) Books of Nandan Ltd.
Journal
Bank A/c Dr. 85,500
To 12 % Debenture Application & Allotment 85,500
A/c ½
[Applications received for ` 90,000 12%
debentures issued at 5% discount ]
12% Debenture Application & Allotment A/c Dr. 85,500
Loss on Issue of Debentures A/c Dr. 13,500
To 12 % Debentures A/c 90,000
To Premium on redemption of debentures A/c 9,000
[Allotment of 900 12% debentures at 5%
Discount redeemable at 10% premium] 1 ½
OR
Discount on issue of Debentures A/c Dr. 4,500
To Premium on redemption of debentures A/c 9,000
[Allotment of 900 12% debentures at 5%
Discount redeemable at 10% premium]

(b) (i) Books of Kipter Ltd.
Journal
14 % Debentures A/c ..............................Dr. 1,90,000
To Debenture holders’ A/c 1,90,000
[ Amount payable to debenture holders on
conversion]
Debenture holders’ A/c...........................Dr. 1,90,000 ½
1,52,000
To Equity Share Capital A/c
38,000
To Securities Premium Reserve A/c
[Equity shares issued at 25% premium to
5

14% debentureholders’ A/c] 1 ½
(ii) Books of Rabtec Ltd.
Journal
Own Debentures A/c ..................... Dr. 2,88,000
To Bank A/c 2,88,000
[3,000 own debentures purchased for
cancellation]
12% Debentures A/c ........................... Dr. 3,00,000
To Own Debentures A/c 2,88,000 ½
To Profit on cancellation of own 12,000
debentures A/c
[ Cancellation of Own Debentures]
Profit on cancellation of Own Debentures 1
A/c..........................................................Dr. 12,000
To Capital Reserve A/c 12,000
[ Profit on cancellation of own debentures
transferred to capital reserve A/c] ½

=
6 Marks
14 13 15 Q. Give necessary ............................................. was Rs.54,000
Ans. Books of the Aman and Rajat
Journal
(a) Realisation A/c ................................Dr. 10,000
To Bank A/c 10,000
[ Payment of a dishonoured B/R under 1
discount]
(b) Realisation A/c ................................Dr. 29,550
To Bank A/c 29,550
[ Bills payable discharged ] 1
(c) Realisation A/c ................................Dr. 21,000
To Bank A/c 21,000
[Creditors took over stock & balance paid 1
in cash]
(d) Rajat’s capital A/c ...........................Dr. 450
To Realisation A/c 450
[ Unrecorded old typewriter taken over 1
By Rajat ]

(e) [i] Realisation A/c .............................Dr. 1,000
1,000
To Aman’s CapitalA/c
½
[ Remuneration given to Aman for

completing dissolution work ]
800
[ii] Aman’s Capital A/c ........................Dr.
800
To Bank A/c ½
[ Expenses paid by the firm but borne by
Aman]
(f) Aman’s Capital A/c ...........................Dr. 36,000
Rajat’s Capital A/c ............................Dr. 18,000 1
To Realisation A/c 54,000 =
6


[ Loss on realization] 6 Marks
15 -‐ -‐ Q. Piya and Bina are ........................................................ necessary rectifying entry.
Ans.
Books of the Piya and Bina
Journal
2016 Bina’s Capital A/c......................... Dr. 5,856
Apr 1 To Piya’s Capital A/c 5,856
[Rectifying entry for omission of IOC and 2
Piya’s salary ]
Working Notes :
[1] Calculation of Opening capital :
PIYA BINA
Closing Capital 80,000 40,000
Add : Drawings 8,000 4,000
88,000 44,000
Less : Profits 18,000 12,000
Opening Capital 70,000 32,000 2
IOC @ 12% 8,400 3,840
[2] Past Adjustment Table
Particulars Piya Bina Total
Omission of IOC 8,400 (Cr.) 3,840 (Cr.) 12,240 (Dr.)
Omission of Piya’ salary 12,000 (Cr.) -‐-‐-‐-‐-‐ 12,000 (Dr.) 2
20,400 (Cr.) 3,840 (Cr.) 24,240 (Dr.) =
Dr. Total divided in PSR 14,544 (Dr.) 9,696 (Dr.) 24,240 (Cr.) 6 Marks
Net Effect 5856 (Cr.) 5,856 (Dr.) 00000
16 17 16 Q. Nitro Paints Ltd. invited .............................................. books of Nitro Paints Ltd.
Ans. Books of Nitro Paints Ltd.
Journal
(i) Bank A/c ..................................................Dr. 10,80,000
To Equity Share Application A/c 10,80,000
[ Application money received on 1,80,000 ½
shares]
(ii) Equity Share Application A/c...................Dr. 10,80,000
To Equity Share Allotment A/c 60,000
To Bank A/c 60,000 1
[ Application money transferred to share
capital A/c, Securities Premium A/c, Share
Allotment A/c & surplus refunded]
(iii) Equity Share Allotment A/c ...................Dr. 4,80,000
To Securities Premium Reserve A/c 1,60,000 ½
[Allotment money due on 1,60,000 shares]
(iv) Bank A/c ..................................................Dr. 4,11,600
To Equity Share Allotment A/c 4,11,600
[Amount received on Allotment except on 1
3,200 shares]
OR
7

Bank A/c ..................................................Dr. 4,11,600
Calls – in – arrear A/c ............................. Dr. 8,400 4,20,000
To Equity Share Allotment A/c
[ Amount received on Allotment except on
3,200 shares]
(v) Equity Share First & Final Call A/c ...........Dr. 6,40,000
[ First & Final call money due on 1,60,000 1
shares ]

(vi) Bank A/c .................................................Dr. 6,27,200
To Equity Share First & Final Call A/c 6,27,200
[ First & Final Call money received except
on 3,200 shares]
OR 1
Bank A/c ..................................................Dr. 6,27,200
Calls – in – arrear A/c ............................. Dr. 12,800
on 3,200 shares ]
(vii) Equity Share Capital A/c.........................Dr. 32,000,
Securities Premium Reserve A/c............Dr. 6,400
To Equity Share First & Final Call A/c 12,800
[ Forfeiture of 3,200 shares for non 1
payment of allotment and call money ]
OR
Equity Share Capital A/c.........................Dr. 32,000
To Calls – in – Arrear A/c 21,200
[Forfeiture of 3,200 shares for non
(viii) Bank A/c ................................................Dr. 43,000
To Equity Share Capital A/c 16,000 1
To Securities Premium Reserve A/c 27,000
[ 1,600 of the forfeited shares reissued as
fully paid up ]
(ix) Forfeited Shares A/c ...............................Dr. 8,600
To Capital Reserve A/c 8,600 1
=
[ Gain on 1,600 reissued shares transferred
8 Marks

to capital reserve A/c ]
16 17 16 Q. Midee Ltd. Invited........................................ wherever necessary.
OR OR OR
Ans. Books of Midee Ltd.
Journal
8

(i) Bank A/c ..................................................Dr. 20,00,000
[ Application money received on 40,000 ½
shares]
To Calls in advance A/c 4,50,000 1
capital A/c and excess transferred to Share
Allotment and Calls in advance A/c ]
To Equity Share Capital A/c 2,70,000 ½
[Allotment money due on 27,000 shares]
(iv) Bank A/c ..................................................Dr. 94,000
To Calls in advance A/c 24,000 1
[ Allotment money received on 27,000
shares and calls in advance on 600 shares]
[ First & Final call money due on 27,000
shares ]
(vi) Bank A/c ..................................................Dr. 10,52,500
Calls – in – arrear A/c ............................. Dr. 3,500 1 ½
Calls – in -‐ advance A/c 24,000
on 200 shares calls in advance adjusted ]
To Forfeited Shares A/c 16,500 1
[Forfeiture of 200 shares for non payment
of call money ]

(viii) Bank A/c ................................................Dr. 21,000
1
To Equity Share Capital A/c 20,000


[ 200 forfeited shares reissued as fully paid

up ]

1
=
[Gain on reissued shares transferred to 8 Marks

capital reserve A/c ]
Q. The Balance Sheet.......................................... the reconstituted firm.
Ans. Revaluation A/c
Dr Cr
17 16 17 Particulars Amt (`) Particulars Amt (`)
To Claim for Workmen By Land & Building 26,000
Compensation 6,000
To Provision for Bad debts 5,000
9

To Partners’ Capital
Accounts (Gain)
Madhu – 6,000
Vidhi -‐-‐ 9,000 15,000
26,000 26,000
Dr. Partners’ Capital A/c Cr. 2
Particulars Madhu Vidhi Gayatri Particulars Madhu Vidhi Gayatri
To Balance 5,98,000 4,17,000 4,00,000 By Balance b/d 5,20,000 3,00,000
c/d By General
Reserve A/c 12,000 18,000
By Revaluation
A/c 6,000 9,000
By Cash A/c 4,00,000
By Premium for
goodwill A/c 60,000 90,000

5,98,000 4,17,000 4,00,000 5,98,000 4,17,000 4,00,000

Balance Sheet of
as at 31 March 2016 st
Liabilities Amt (`) Assets Amt (`)
Partners’ Capital A/c: Land & Building 3,26,000
Madhu 5,98,000 Machinery 2,80,000
Vidhi 4,17,000 Stock 80,000
Gayatri 4,00,000 14,15,000 Debtors 3,00,000
Claim for Workmen Less : Provision 15,000 2,85,000
Compensation 6,000 Bank 6,00,000
Bills Payable A/c 1,50,000
15,71,000 15,71,000 3

Working:

Bank A/c

Dr Cr


To Balance b/d 50,000 By Balance c/d 6,00,000

To Gayatri’s Capital A/c 4,00,000

To Premium for Goodwill 1,50,000
3
A/c

=

8 Marks

6,00,000 6,00,000
17 16 17 Q. Ativ, Meha and Nupur.............................................the reconstituted firm.
OR OR OR Ans. Revaluation A/c
Dr Cr
To stock 5,000 By Fixed Assets 25,000
To Partners’ capital A/cs
(profit)
Ativ 10,000
Meha 6,000 2
Nupur 4,000 20,000

10

25,000 25,000
Dr. Partners’ Capital A/c Cr.
Particulars Ativ Meha Nupur Particulars Ativ Meha Nupur
To By Balance
Advertisem b/d 1,00,000 50,000 40,000
ent

Expenditure
5,000 3,000 2,000
By

A/c Revaluation

A/c 10,000 6,000 4,000
To Ativ’s
Capital A/c 36,000 24,000 By Meha’s
Capital A/c 36,000
To Bank 20,000

A/c By Nupur’s 24,000
Capital A/c
To Ativ’s
1,45,000
Loan A/c

To Balance 17,000 18,000
c/d 3

1,70,000 56,000 44,000 1,70,000 56,000 44,000

Balance Sheet of Meha & Nupur

as at 31st March 2016

Partners’ Capital A/c: Fixed Assets 1,45,000
Meha 17,000 Stock 50,000
Nupur 18,000 35,000 Debtors 30,000
Ativ’s Loan A/c 1,45,000 Bank 5,000 3
Employees’ Provident Fund 23,500 =
Trade Creditors 26,500 8 Marks

2,30,000 2,30,000
Working:
Goodwill = 55,000 + 65,000 +60,000 x 2 = 1,20,000
3

PART B
(Financial Statements Analysis)
18 19 18 Q. Cash Flow ...................................................Cash Flow Statement. 1 Mark
Ans. For the purpose of preparing Cash Flow Statement, Cash comprises cash in hand and
demand deposits with bank.
19 18 19 Q. Give an example...............................................of enterprise. 1 Mark
Ans. Following are the activities which are financing activity for any enterprise (any one)
• Dividends paid
• Issue of Shares
• Redemption of Preference shares
• Buy Back of shares
• Issue of Debentures
• Redemption of Debentures
• Obtaining Long Term Loans
• Repayment of long term loans
20 22 21 Q. (a) Classify the .............................................. for warranties.
11

Ans.
Items Heads Sub-‐heads
Capital Work in progress Non current Assets Fixed Assets 1
Provision for warranties Non Current Liability Long Term provisions 1

Q. (b) State any two.................................... of Financial Statements.’
Ans. Objectives of ‘Analysis of Financial Statements’ are: (any two)
• To assess the current profitability and operational efficiency of the firm as a whole
as well as of its different departments. 2
• To ascertain the relative importance of different components of financial position of
the firm.
• To identify the reasons for change in profitability/financial position of the firm.
• To judge the ability of the firm to repay its debts i.e. to know its solvency position.
• To assess liquidity position of the business. =
4 Marks
• To facilitate inter-‐firm and intra-‐firm comparisons.
• To know the managerial efficiency & to facilitate preparation of budgets.
21 20 22 Q. (a) Net profit..........................................investment.
Ans. Profit before interest and tax = 1,00,000+ 25,000+40,000= 1,65,000
Return on Investment = Profit before interest and tax * 100
Capital Employed
= 1,65,000 x 100 2
8,00,000 =20.625%
Q. (b) Rate of Gross Profit..............................................Turnover Ratio.
Ans.
Revenue From Operations= 25,00,000
Cost of Revenue From Operations= 25,00,000-‐5,00,000=20,00,000
Working Capital = 10,00,000-‐ 3,00,000= 7,00,000
Working Capital Turnover Ratio= Cost of Revenue from Operations
Working Capital
= 20,00,000 2
7,00,000 = 2.86 times
OR

Working Capital Turnover Ratio= Revenue from Operations
Working Capital =4 Marks
= 25,00,000
7,00,000 = 3.57 times
22 21 20 Q. From the following...................................................common size statement.
Ans.
Common Size Statement
st
For the year ending 31 March 2015 and 2016
Particulars Note Absolute Amounts % of Revenue From
No. Operations
2014-‐15 2015-‐16 2014-‐15 2015-‐16

(Rs.) (Rs.)

Revenue from Operations 20,00,000 25,00,000 100% 100%
Add other income
-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐
Total Revenue 20,00,000 25,00,000 100% 100% 1

12

Less: Expenses
Employee Benefit Expenses 7,00,000 10,00,000 35% 40%
Other Expenses 3,00,000 2,00,000 15% 8%

1
Total Expenses 10,00,000 12,00,000 50% 48%
Profit before Tax 10,00,000 13,00,000 5,00,000 52%
1
Less: Tax @ 40% 4,00,000 5,20,000 2,50,000 20.8%
1
Profit after tax

6,00,000 7,80,000 2,50,000 31.2% =4 marks
23 -‐ -‐ Q. Calculate Cash Flows........................ the year was Rs. 60,000.
Ans. Cash flows From Investing Activities
Particulars Details (`) Amount (R)
B. Cash flows from Investing Activities :
Purchase of Land (10,00,000)
Sale of Long Term Investments 1,50,000
Interest on Long Term Investments 40,000
Purchase of Plant and Machinery (1,88,000)
Sale of Plant and Machinery 35,000 ½ * 6 = 3
Purchase of Goodwill (65,000)
Net Cash used in investing activities (10,28,000)
Notes: 1
Plant and Machinery A/c
Particulars ` Particulars `
To Balance b/d 2,00,000 By Cash A/c 35,000
To Statement of P/L 7,000 By Depreciation A/c 60,000
To Cash A/c (Bal figure) 3,46,000 By Balance c/d 3,00,000 2
(Purchase)
= 6
3,95,000 3,95,000 marks

PART C
(Computerized Accounting )
18 19 19 Q. Name any ............................................................ flexible manner.

Ans. Database tools are (any two) ½ X 2
=1 Mark
(i) Access.
(ii) Oracle.
(iii) SQL server.
19 18 18 Q. What is meant by ‘Database’?
=1 Mark
Ans. A database is a shared collection of interrelated data tables, files or structures which
are designed to meet the varied informational needs of an organization. It has the
property of being integrated and being shared.
20 21 22 Q. What is meant .............................................. ‘Simple Form’?

13


Ans. Form: Access provides a user friendly interface, which allows users to enter

information in a graphical way. It is known as ‘Form ‘This information transparently

passes to the underlying database.

Split Form: This presentation shows underlying database in one half of the section

and form in other half for entering information in the record selected in the

data sheet. 2x2
=
The two views in the form are synchronized so that scrolling in one view causes
4 Marks
scrolling of the other view to same location of the record.
21 22 20 Q. Name and explain ............................................ scattered locations.

Ans. Name of the software is “Tailored Accounting Software” as they are designed to

meet the requirements of large business organizations with multi users who are

scattered on different geographical locations. They require special training to run

and use. They are important part of the organizational MIS. 1+3
=4 Marks
The secrecy and authenticity checks are robust in such software and they provide
high flexibility in terms of number of users as well.

22 20 21 Q. Explain any four ............................................... accounting software.

Ans. Following are the advantages of computerized accounting system (any four):

1. Timely generation of reports and information in desired format.

2. Efficient record keeping.

3. Ensures effective control over the system.

4. Economy in the processing of accounting data. 1x4
=4 Marks
5. Conditionality of data is maintained.
23 -‐ -‐ Q. Explain the following ....................................... (iv) Dates.

Ans. Formatting of spreadsheet makes easier to read and understand important

information.

Currency: excel is equipped to incorporate various currency sighs in pictorial form
for dollar it uses $ similarly for other currencies also. If the user instructs the use of
the format it will assign a currency format along with entry. (Example)

Percentage: If we enter a value representing a percentage as a whole number
2x3
followed by the percentage sign without any decimal places, Excel assigns to the =
cell the percentage format that follows the pattern along with the entry. (Example) 6 Marks
Date: If we enter a date (dates are values, too) that follows one of the built in excel
14

formats, such as 16-‐04-‐2017 or 16 Apr-‐2017the program assigns a date format that
follows the pattern of the date. (Example)

15


Q. Set No. Marking Scheme Compartment 2016-‐17 Distribution
of marks
67/ 67/ 67/ Accountancy (055)
1/1 1/2 1/3
Delhi – 67/1/2


Journal
Z’s Capital A/c .........................................Dr. 85,0000

of ` 5,000]
partner;
(c) when a partner is guilty of misconduct which is likely to adversely affect the
business of the firm;
under the new agreement. =1 Mark
-‐ 7 -‐ Q. Ronet Ltd.............................................................................’Notes to Accounts’.
Ans.
Balance Sheet of Ronet Ltd.
Particulars Note N o. Amount ` Amount `

16

I Shareholder’s funds : 1
(a) Share Capital 1 39,20,000
Notes to Accounts :
Particulars `
SHARE CAPITAL
Authorised Capital : ½
Issued Capital
44,000 equity shares of ` 100 each ½
Subscribed and fully paid Capital
Add: Share Forfeiture 38,00,000 1
1,20,000 =3 Marks

39,20,000
Journal
to her executors’ A/c] =3 Marks


100
i.e. 1,00,000 x 15/100 = 15,000
Average Profits = 30,000 + 36,000 + 42,000 = 36,000 1

3

Super Profits = 36,000 -‐15,000 = 21,000 1
Goodwill = 21,000 x 2 = 42,000 = 3marks
-‐ 10 -‐ Q. Hunam Ltd...................................................these transactions.
Ans. Hunam Ltd.
Journal
Date Particulars LF Dr. Amt Cr. Amt
(`) (` )
(i) Assets A/c Dr. 6,80,000

17

Goodwill A/c Dr. 1,00,000
To Liabilities A/c 80,000 1 ½
To Ramtel Ltd. 7,00,000

(Being business acquired from Ramtel Ltd.)

(ii) Ramtel Ltd. Dr. 1,40,000
To Bank A/c 1,40,000 ½
(being 20% payment made through cheque)
(iii) Ramtel Ltd. Dr. 5,60,000

1
( Being equity shares of ` 100 each issued at
40% premium)
OR combined entry for (ii) & (iii) =3 Marks
Ramtel Ltd. Dr. 7,00,000

Journal
[2,000 shares of Rs.10 each forfeited for 1
non payment of Rs.6,000]
(ii) Bank A/c ........................................Dr. 450
[ 50 of the forfeited shares reissued for Rs. 1
9 per share]
To Capital Reserve A/c 300 1
capital reserve A/c]
Dr Cr
To Capital Reserve A/c 300 1
To Balance c/d 13,650 =
14,000 14,000 4 Marks

Ans.
Journal
18

sharing ratio ]
• Compassion,
• Concern for society 4 Marks
(Or any other suitable value)
14 13 15 Q. Give necessary ............................................. was ` 54,000
Journal
To Bank A/c 10,000
discount]
To Bank A/c 29,550
To Bank A/c 21,000
in cash]
By Rajat ]
To Aman’s CapitalA/c 1,000
[ Remuneration given to Aman for ½
[ii] Aman’s Capital A/c ........................Dr. 800
To Bank A/c 800
[ Expenses paid by the firm but borne by ½
Aman]
Rajat’s Capital A/c ............................Dr. 18,000
To Realisation A/c 54,000 1
[ Loss on realization] =
6 Marks

-‐ 14 -‐ Q. Priya and Tina are ........................................................ necessary rectifying entry.
Ans.
Books of the Priya and Tina
Journal
2016 Tina’s Capital A/c......................... Dr. 22,848
Apr 1 To Priya’s Capital A/c 22,848
Priya’s salary ]
Working Notes :
19

PRIYA TINA
Closing Capital 1,60,000 80,000
Add : Drawings 16,000 8,000
Less : Profits 24,000 36,000
Opening Capital 1,52,000 52,000
IOC @ 12% p.a. 18,240 6,240 2

Particulars Priya Tina Total
Omission of Priya’ salary 24,000 (Cr.) -‐-‐-‐-‐-‐ 24,000 (Dr.)
42,240 (Cr.) 6,240 (Cr.) 48,480 (Dr.) 2
Dr. Total divided in PSR 19,392 (Dr.) 29,088(Dr.) 48,480 (Cr.) =
Net Effect 22,848(Cr.) 22,848 (Dr.) 00000 6 M
arks

-‐ 15 -‐ Q.(a) Journalise..............................................110%.
Ans. Ketan Ltd.
Journal
Bank A/c Dr. 57,000
To 12% Debenture Application & Allotment A/c 57,000
(Being application money received) ½
Discount on Issue of Debentures A/c Dr. 3,000
To Premium on Redemption of Debentures A/c 6,000
(Being transfer of application money to 1 ½
debenture account issued at discount of 5%,
redeemable at premium of 10%)
Or
To 12% Debentures A/c 60,000
(Being transfer of application money to

Q.(b) Journalise..............................................investments and interest.
Ans. M Ltd.
Journal
(b) (i) 13% Debentures A/c Dr. 3,80,000
To Debentureholders’ A/c 3,80,000
(Being debentures due to be redeemed) ½
Debentureholders A/c Dr. 3,80,000
To Equity share capital A/c 3,04,000
(Being equity shares issued by converting 1 ½
redeemable debentures)
20

(b) (ii) Dalco Ltd.
Journal
Own Debentures A/c Dr. 5,82,000
(Being debentures purchased for immediate ½
cancellation)
10% Debentures A/c Dr. 6,00,000
To Own Debentures A/c 5,82,000
To Profit on cancellation of debentures A/c 18,000 1
(Being debentures cancelled at a profit)
Profit on cancellation of debentures A/c Dr. 18,000
To Capital Reserve A/c 18,000 ½
(Being profit on cancellation transferred to =
capital reserve) 6 Marks

17 16 17 Q. The Balance Sheet.......................................... the reconstituted firm.

Ans.
Revaluation A/c
Dr Cr
Compensation 6,000
Accounts (Gain)
Madhu – 6,000
Vidhi -‐-‐ 9,000 15,000
26,000 26,000 2

Partners’ Capital A/c
Dr. Cr.
c/d By General

Reserve A/c 12,000 18,000
By Revaluation
A/c 6,000 9,000
By Cash A/c 4,00,000 3
By Premium for
goodwill A/c 60,000 90,000

5,98,000 4,17,000 4,00,000 5,98,000 4,17,000 4,00,000
Balance Sheet of
Vidhi 4,17,000 Stock 80,000
Gayatri 4,00,000 14,15,000 Debtors 3,00,000 3
Compensation 6,000 Bank 6,00,000 =
Bills Payable A/c 1,50,000 8 Marks
15,71,000 15,71,000
Working:
21

Bank A/c
Dr Cr
A/c

6,00,000 6,00,000
OR OR OR Ans.
Revaluation A/c
Dr Cr
(profit)
Ativ 10,000 2
Meha 6,000
Nupur 4,000 20,000

25,000 25,000

Dr. Cr.
To Advertisement 5,000 3,000 2,000 By Balance b/d 1,00,000 50,000 40,000
Expenditure A/c By Revaluation

To Ativ’s Capital A/c 36,000 24,000 A/c 10,000 6,000 4,000
To Bank A/c By Meha’s
To Ativ’s Loan A/c 20,000 Capital A/c 36,000 3
To Balance c/d 1,45,000 17,000 18,000 By Nupur’s
Capital A/c 24,000

1,70,000 56,000 44,000 1,70,000 56,000 44,000
Meha 17,000 Stock 50,000
Nupur 18,000 35,000 Debtors 30,000
Ativ’s Loan A/c 1,45,000 Bank 5,000 3
Employees’ Provident Fund 23,500
Trade Creditors 26,500
=
2,30,000 2,30,000 8 Marks
Working:
Goodwill = 55,000 + 65,000 +60,000 x 2 = 1,20,000
3
22

Journal
(i) Bank A/c ..................................................Dr. 10,80,000
shares]
(iv) Bank A/c ..................................................Dr. 4,11,600
3,200 shares]
OR
Bank A/c ..................................................Dr. 4,11,600
3,200 shares]
shares ]
(vi) Bank A/c .................................................Dr. 6,27,200
on 3,200 shares]
OR
Bank A/c ..................................................Dr. 6,27,200
Calls – in – arrear A/c ............................. Dr. 12,800 1
on 3,200 shares ]
[ Forfeiture of 3,200 shares for non
23

OR 1
(viii) Bank A/c ................................................Dr. 43,000
[ 1,600 of the forfeited shares reissued as 1
fully paid up ]

[ Gain on 1,600 reissued shares transferred
1
=
8 Marks
OR OR OR Ans. Books of Midee Ltd.
Journal
(i) Bank A/c ..................................................Dr. 20,00,000
[ Application money received on 40,000
shares] ½
To Calls in advance A/c 4,50,000
[ Application money transferred to share 1
[Allotment money due on 27,000 shares] ½
(iv) Bank A/c ..................................................Dr. 94,000
To Calls in advance A/c 24,000
[ Allotment money received on 27,000 1
[ First & Final call money due on 27,000 ½
shares ]
(vi) Bank A/c ..................................................Dr. 10,52,500
Calls – in – arrear A/c ............................. Dr. 3,500
Calls – in -‐ advance A/c 24,000 1 ½
24

To Calls – in – Arrear A/c 3,500 1
of call money ]
(viii) Bank A/c ................................................Dr. 21,000
To Securities Premium Reserve A/c 1,000 1
up ]
16,500
To Capital Reserve A/c
1
[Gain on reissued shares transferred to =

capital reserve A/c ] 8 Marks
PART B
• Dividends paid
• Issue of Shares
• Redemption of Debentures
Capital Employed
= 1,65,000 x 100 2
8,00,000 =20.625%
Ans.
Working Capital = 10,00,000-‐ 3,00,000= 7,00,000
Working Capital
= 20,00,000 2
7,00,000 = 2.86 times
OR

Working Capital Turnover Ratio= Revenue from Operations
Working Capital =4 Marks
= 25,00,000
7,00,000 = 3.57 times
25

Ans.
For the year ending 31st March 2015 and 2016
No. Operations
2014-‐15 2015-‐16 2014-‐15 2015-‐16

(Rs.) (Rs.)

Add : other incomes -‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐
Total Revenue 20,00,000 25,00,000 100% 100% 1
Less: Expenses

Other Expenses 3,00,000 2,00,000 15% 8%

1
Total Expenses 10,00,000 12,00,000 50% 48%
Profit before Tax (III – IV) 10,00,000 13,00,000 5,00,000 52%
Less: Tax @ 40% 4,00,000 5,20,000 2,50,000 1
20.8%

1
Profit after tax 6,00,000 7,80,000 2,50,000 31.2% =4 marks


Ans.

Ans. Objectives of ‘Analysis of Financial Staements’ are: (any two)
• To assess the current profitability and operational efficiency of the firm as a whole
as well as of its different departments.
• To ascertain the relative importance of different components of financial position of 2
the firm.
• To assess liquidity position of the business.
=
4 Marks
-‐ 23 -‐ Q. Calculate........................ was Rs.’90,000.
Ans. Cash flows From Investing Activities
Particulars Details (`) Amount (R)

½ *6 = 3
26

B. Cash flows from Investing Activities :
Purchase of Land (10,00,000)
Sale of Long Term Investments 3,00,000 1
Interest on Long Term investments 80,000
Purchase of Plant and Machinery (3,46,000)
Sale of Plant and Machinery 75,000
Purchase of Goodwill (1,30,000)
Net Cash used in investing activities (10,21,000)

2
Notes:

= 6
marks

To Statement of P/L 19,000 By Depreciation A/c 90,000

To Cash A/c (Bal figure) 3,46,000 By Balance c/d 6,00,000
(Purchase)

7,65,000 7,65,000

PART C


Ans. A database is a shared collection of interrelated data tables, files or structures which 1 Mark
are designed to meet the varied informational needs of an organization. It has the property
of being integrated and being shared.

=1 Mark
(i) Access.
(ii) Oracle.
(iii) SQL server.

4. Economy in the processing of accounting data.
27

5. Conditionality of data is maintained. 22,20,21







data sheet.
2x2
The two views in the form are synchronized so that scrolling in one view causes
=
scrolling of the other view to same location of the record. 4 Marks


Ans. Name of the software is “Tailored Accounting Software” as they are designed to

meet the requirements of large business organizations with multi users who are

scattered on different geographical locations. They require special training to run

and use. They are important part of the organizational MIS. 1+3
=4 Marks

-‐ 23 -‐ Q. Explain in brief ..................................................... ‘Conditional Formatting’.

Ans. Following steps should be taken to change conditional formatting:

1. Make sure appropriate worksheet, table is selected in the show formatting rules

for list box.

2. Optionally change the range of cells by clicking Collapse dialog in the Applies to

box to temporarily hide it .then select Expand dialog.

3. Select the rule, and then click the Edit Rule.The Edit formatting rule dialog box is

displayed.

4. Under select a rule type, click Format all cells based on their values.

5. Under Edit the Rule Description, in Format style list box, select 3-‐color scale.

28

6. To select Minimum and Maximum type do one of the following: 1x6
=
• Format highest and lowest value select lowest and highest value in this case 6 marks
we do not enter maimum or minimum value.
• Format a number, date or time value select number and then enter
minimum and maximum value.

29


DISTRIBUTIO
Q. Set No. Marking Scheme Compartment 2016-‐17 N
OF MARKS

Accountancy (055)
67/
1/1
67
/1/2
67/
1/3
Delhi – 67/1/3

partner;
(c) when a partner is guilty of misconduct which is likely to adversely affect the business
of the firm;
under the new agreement. =1
Mark

Journal
Z’s Capital A/c .........................................Dr. 85,0000

of Rs.5,000]
Journal
30

to her executors’ A/c] =3
Marks

100
i.e. 1,00,000 x 15/100 = 15,000
Average Profits = 30,000 + 36,000 + 42,000 = 36,000 1

3

Super Profits = 36,000 -‐15,000 = 21,000 1
Goodwill = 21,000 x 2 = 42,000 =
3marks
-‐ -‐ 9 Q. Kadura Ltd...................................................Kadura Ltd..
Ans.
Hunam Ltd.
Journal
Date Particulars LF Dr. Amt Cr. Amt
(`) (` )
(i) Assets A/c Dr. 2,70,000

Goodwill A/c Dr. 60,000

To Liabilities A/c 30,000 1 ½
To Bavi Ltd. 3,00,000
(Being business acquired from Bavi Ltd.)
(ii) Bavi Ltd. Dr. 60,000
To Bank A/c 60,000
½
(being 20% payment made through cheque)

(iii) Bavi Ltd. Dr. 2,40,000
To Securities Premium Reserve A/c 90,000 1
( Being equity shares of ` 100 each issued at
60% premium)
= 3
OR combined entry for (ii) & (iii)
marks
Bavi Ltd. Dr.

31

(20% Payment made to Bavi Ltd. by cheque 90,000
and balance settled by issue of equity shares at

a premium of 60%)

-‐ -‐ 10 Q. Tycol Ltd.............................................................................’Notes to Accounts’.
Ans.
Balance Sheet of Tycol Ltd.
Particulars Note No. Amount ` Amount `
I Shareholder’s funds :
a) Share Capital 1 58,80,000
1
Notes to Accounts :
Particulars `
(1) Share Capital
Authorised Capital :
Issued Capital ½
Subscribed and fully paid ½
Add: Forfeited Shares A/c 57,00,000
1,80,000 1
58,80,000 =3
Marks

Ans.
Journal
sharing ratio ]
• Compassion,
• Concern for society 4
(Or any other suitable value) Marks
Journal
32

[2,000 shares of Rs.10 each forfeited for 1
non payment of Rs.6,000]
(ii) Bank A/c ........................................Dr. 450
[ 50 of the forfeited shares reissued for Rs. 1
9 per share]
capital reserve A/c] 1
Dr Cr
To Balance c/d 13,650
14,000 14,000 1
=

4
Marks
-‐ -‐ 13 Q. Diya and Rina are ........................................................ necessary rectifying entry.
Ans.
Books of the Diya and Rina
Journal
2016 Rina’s Capital A/c......................... Dr. 864
Apr 1 To Diya’s Capital A/c 864
Diya’s salary ]

Working Notes :

DIYA RINA
Closing Capital 2,40,000 1,20,000
Add : Drawings 16,000 12,000
Less : Profits 72,000 18,000 2
Opening Capital 1,92,000 1,14,000
IOC @ 12% p.a. 23,040 13,680


Particulars DIYA Rina Total
Omission of Diya’ salary 36,000 (Cr.) -‐-‐-‐-‐-‐ 36,000 (Dr.)
59,040 (Cr.) 13,680 (Cr.) 72,720 (Dr.) 2
Dr. Total divided in PSR 58,176 (Dr.) 14,544(Dr.) 72,720 (Cr.) =
Net Effect 864(Cr.) 864 (Dr.) 00000 6
33

Marks

-‐ -‐ 14 Q. (a) Journalise..............................................110%.

Ans. (a) Pincel Ltd.
Journal
Bank A/c Dr. 2,56,500
To 12% Debenture Application & Allotment A/c 2,56,500
(Being application money received)
½
12% Debenture Application & Allotment A/c Dr. 2,56,500
Discount on Issue of Debentures A/c Dr. 13,500
To % Debentures A/c 2,70,000
(Being transfer of application money to 1 ½
Or
% Debenture Application & Allotment A/c Dr. 2,56,500
Loss on Issue of Debentures A/c 40,500
Dr. 2,70,000
To % Debentures A/c 27,000
To Premium on Redemption of Debentures A/c
(Being transfer of application money to

Q.(b) Journalise..............................................investments and interest.

Ans. Ritel Ltd.

Journal
(b) (i) 13% Debentures A/c Dr. 7,50,000
To Debenturelders A/c 7,50,000 ½
(Being debentures due to be redeemed)
Debentureholders A/c Dr. 7,50,000
To Equity share capital A/c 6,00,000
To Securities Premium Reserve A/c 1,50,000 1 ½
(Being equity shares issued by converting
redeemable debentures)
(b) (ii) Namex Ltd.
Journal
Own Debentures A/c Dr. 4,90,000
(Being debentures purchased for immediate ½
cancellation)
12% Debentures A/c Dr. 5,00,000
34

To Own Debentures A/c 4,90,000
To Profit on redemption A/c 10,000 1
(being debentures cancelled at a profit)
Profit on redemption A/c Dr. 10,000
To Capital Reserve A/c 10,000 ½
(being redemption profit transferred to capital =
reserve) 6
Marks

14 13 15 Q. Give necessary ............................................. was Rs.54,000

Journal
To Bank A/c 10,000
discount]
To Bank A/c 29,550
To Bank A/c 21,000
in cash]
By Rajat ]
To Aman’s CapitalA/c 1,000
[ Remuneration given to Aman for ½
[ii] Aman’s Capital A/c ........................Dr. 800
To Bank A/c 800
[ Expenses paid by the firm but borne by ½
Aman]

Rajat’s Capital A/c ............................Dr. 18,000 1
To Realisation A/c 54,000 =
[ Loss on realization] 6
Marks

Journal
(i) Bank A/c ..................................................Dr. 10,80,000
shares]
35

(iv) Bank A/c ..................................................Dr. 4,11,600
3,200 shares]
OR
Bank A/c ..................................................Dr. 4,11,600
3,200 shares]
shares ]
(vi) Bank A/c .................................................Dr. 6,27,200
on 3,200 shares]
OR
Bank A/c ..................................................Dr. 6,27,200
Calls – in – arrear A/c ............................. Dr. 12,800 1
on 3,200 shares ]
[ Forfeiture of 3,200 shares for non
OR 1

36

(viii) Bank A/c ................................................Dr. 43,000
To Equity Share Capital A/c 16,000 1
[ 1,600 of the forfeited shares reissued as
fully paid up ]
[ Gain on 1,600 reissued shares transferred =
8

Marks
O O O
R R R Ans. Books of Midee Ltd.
Journal
(i) Bank A/c ..................................................Dr. 20,00,000
[ Application money received on 40,000 ½
shares]
To Calls in advance A/c 4,50,000 1
[Allotment money due on 27,000 shares]
(iv) Bank A/c ..................................................Dr. 94,000
To Calls in advance A/c 24,000 1
[ Allotment money received on 27,000
[ First & Final call money due on 27,000
shares ]
(vi) Bank A/c ..................................................Dr. 10,52,500
Calls – in – arrear A/c ............................. Dr. 3,500 1 ½
Calls – in -‐ advance A/c 24,000
To Forfeited Shares A/c 16,500 1
of call money ]

1
37

(viii) Bank A/c ................................................Dr. 21,000
up ] 1
(ix) Forfeited Shares A/c ...............................Dr. 16,500 =
[Gain on reissued shares transferred to Marks

capital reserve A/c ]

17 16 17 Q. The Balance Sheet.......................................... the reconstituted firm.
Ans.
Revaluation A/c
Dr Cr
Compensation 6,000
Accounts (Gain) 2
Madhu – 6,000
Vidhi -‐-‐ 9,000 15,000
26,000 26,000

Dr. Cr.
c/d By General

Reserve A/c 12,000 18,000
By Revaluation
A/c 6,000 9,000
By Cash A/c 4,00,000
By Premium for
goodwill A/c 60,000 90,000

5,98,000 4,17,000 4,00,000 5,98,000 4,17,000 4,00,000
Balance Sheet of
Vidhi 4,17,000 Stock 80,000 3
Gayatri 4,00,000 14,15,000 Debtors 3,00,000
Compensation 6,000 Bank 6,00,000
Bills Payable A/c 1,50,000
15,71,000 15,71,000
Working:
Bank A/c
38

Dr Cr
A/c

3

6,00,000 6,00,000 =
8

Marks
O O O Ans.
R R R
Revaluation A/c
Dr Cr
(profit) 2
Ativ 10,000
Meha 6,000
Nupur 4,000 20,000

25,000 25,000

Dr. Cr.
To By Balance
Advertisement b/d 1,00,000 50,000 40,000

Expenditure 5,000 3,000 2,000 By
A/c Revaluation
To Ativ’s -‐ 36,000 24,000 A/c 10,000 6,000 4,000
Capital A/c By Meha’s
To Bank A/c 20,000 Capital A/c 36,000
To Ativ’s Loan By Nupur’s
A/c 1,45,000 Capital A/c 24,000

To Balance c/d 17,000 18,000

3
1,70,000 56,000 44,000 1,70,000 56,000 44,000

Meha 17,000 Stock 50,000
Nupur 18,000 35,000 Debtors 30,000
39

Ativ’s Loan A/c 1,45,000 Bank 5,000
Employees’ Provident Fund 23,500
Trade Creditors 26,500
3
2,30,000 2,30,000
Working:
Goodwill = 55,000 + 65,000 +60,000 x 2 = 1,20,000 =
3 8
Marks

PART B

• Dividends paid
• Issue of Shares
Redemption of Debentures

Ans.
For the year ending 31st March 2015 and 2016
No. Operations
2014-‐15 2015-‐16 2014-‐15 2015-‐16

(Rs.) (Rs.)

Add other income
-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐
Total Revenue 20,00,000 25,00,000 100% 100% 1
Less: Expenses


Other Expenses 3,00,000 2,00,000 15% 8%

Total Expenses 10,00,000 12,00,000 50% 48% 1
Profit before Tax 10,00,000 13,00,000 5,00,000 52%

Less: Tax @ 40% 4,00,000 5,20,000 2,50,000 20.8%
1
Profit after tax 6,00,000 7,80,000 2,50,000 31.2% 1
=4
marks
40

Ans.

Ans. Objectives of ‘Analysis of Financial Staements’ are: (any two)
• To assess the current profitability and operational efficiency of the firm as a whole as
well as of its different departments.
• To ascertain the relative importance of different components of financial position of 2
the firm.
• To assess liquidity position of the business.
=
4
Marks
Capital Employed
= 1,65,000 x 100 2
8,00,000 =20.625%
Ans.
Working Capital = 10,00,000-‐ 3,00,000= 7,00,000
Working Capital
= 20,00,000 2
7,00,000 = 2.86 times

OR

Working Capital Turnover Ratio= Revenue from Operations =4
Working Capital Marks
= 25,00,000
7,00,000 = 3.57 times
-‐ -‐ 23 Q. Calculate........................ was Rs.’45,000.

41


Ans. Cash flows From Investing Activities ½ mark
Particulars Details (`) Amount (R) for
B. Cash flows from Investing Activities : each
Purchase of Land (10,00,000) item
Sale of Long Term Investments 50,000 =
Interest on Long Term investments 20,000 ½ *6
Purchase of Plant and Machinery (85,000) = 3
Sale of Plant and Machinery 35,000 +
Purchase of Goodwill (1,85,000)
Net Cash used in investing activities (11,65,000) 1 mark

+
Notes:
To Statement of P/L 15,000 By Depreciation A/c 45,000 2
To Cash A/c (Bal figure) 85,000 By Balance c/d 1,40,000 marks
(Purchase) =
3+1+2
2,20,000 2,20,000 =
6

marks

PART C
=1
Ans. A database is a shared collection of interrelated data tables, files or structures which Mark
are designed to meet the varied informational needs of an organization. It has the property of
being integrated and being shared.

=1
(i) Access.
Mark
(ii) Oracle.
(iii) SQL server.

Ans. Name of the software is “Tailored Accounting Software” as they are designed to meet

the requirements of large business organizations with multi users who are scattered

on different geographical locations. They require special training to run and use. They

are important part of the organizational MIS. 1+3
=4
Marks
42






4. Economy in the processing of accounting data. 1x4
=4
Conditionality of data is maintained. Marks






data sheet.
2x2
The two views in the form are synchronized so that scrolling in one view causes scrolling of
=
the other view to same location of the record.
4
Marks
-‐-‐ -‐-‐ 23 Q. Name the table……………………………………………………any five advantages.
Ans.
Name of the Table is Pivot table.

Advantages of pivot table are (Any five)

1. User friendly.
2. Focus on results.
3. Multiple summarisation of data. 1 + 5
4. Filtering,sorting ,grouping etc. makes it possible to focus on information. =
5. Presenting concise, attractive and annotated online or printed reports. 6
6. Analysis of related tables is facilitated. (with suitable explanation). 6m marks

43


44

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Q. Set No. Marking Scheme Compartment 2016-­‐17 Distribution

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13 -­‐ -­‐ Q. (a) Journalise the following.......................................... Investment and Interest.

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20 21 22 Q. What is meant .............................................. ‘Simple Form’?

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23 -­‐ -­‐ Q. Explain the following ....................................... (iv) Dates.

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7 9 8 Q. The total capital............................. goodwill of the firm.

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17 16 17 Q. The Balance Sheet.......................................... the reconstituted firm.

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20 22 21 Q. (a) Classify the .............................................. for warranties.

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2. Efficient record keeping.

3. Ensures effective control over the system.

4. Economy in the processing of accounting data.

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we do not enter maimum or minimum value.

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3 5 1 Q. State any................................................court’s orders.

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14 13 15 Q. Give necessary ............................................. was Rs.54,000

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Q. Set No. Marking Scheme Compartment 2016-‐17 Distribution

13 -‐ -‐ Q. (a) Journalise the following.......................................... Investment and Interest.

23 -‐ -‐ Q. Explain the following ....................................... (iv) Dates.