Aarth's Academy of Commerce

2-C/53 NIT Faridabad, 9910355359

SAMPLE PAPER 6
Class 12 - Accountancy
Time Allowed: 3 hours Maximum Marks: 80

General Instructions:

1. This question paper contains 34 questions. All questions are compulsory.

2. This question paper is divided into two parts, Part A and B.

3. Part - A is compulsory for all candidates.

4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students

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must attempt only one of the given options.

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5. Question 1 to 16 and 27 to 30 carries 1 mark each.

6. Questions 17 to 20, 31and 32 carries 3 marks each.

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7. Questions from 21 ,22 and 33 carries 4 marks each

8. Questions from 23 to 26 and 34 carries 6 marks each

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9. There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2 questions

of three marks, 1 question of four marks and 2 questions of six marks.

Part A:- Accounting for Partnership Firms and Companies

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1. Unrecorded assets or liabilities are transferred to: [1]

a) Profit and Loss Account b) Partners' Capital Account

Aa

c) Revaluation Account d) Partners' Current Account

2. Assertion (A): A firm can change its existing agreement. [1]
Reason (R): Any change in its partnership agreement, will be treated as a punishable offense.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

3. Jain Ltd purchased machinery costing ₹ 10,00,000 from Ayer Ltd. 50% of the payment was made by cheque and [1]
for the remaining 50%, the company issued Equity Shares of ₹ 100 each at a premium of 25%. Calculate the no
of shares to be issued.

a) 40,000 b) 4,000

c) 400 d) 5,000
OR
Shareholders get dividend, Debenture holders get

a) Profit b) Bonus

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 c) Interest d) Shares
4. Sacrificing Ratio: [1]

a) Old Ratio - Gaining Ratio b) Gaining Ratio - Old Ratio

c) Old Ratio - New Ratio d) New Ratio - Old Ratio

OR
X, Y and Z are partners sharing profits in the ratio of their capitals. On 1st April 2020 their capital balances are: X ₹
3,00,000; Y ₹ 2,00,000 and Z ₹ 50,000 respectively. Z was guaranteed a minimum profit of ₹ 50,000. The firm
incurred a loss of ₹ 5,50,000 for the year ended 31st March 2021.
How much deficiency is borne by X and Y?

a) X 50,000 and Y 50,000 b) X 30,000 and Y 20,000

c) X 40,000 and Y 60,000 d) X 60,000 and Y 40,000

5. In case of fixed capitals, partners will have [1]

a) credit balance or nil balance in their Capital b) credit balances in their Capital Accounts.

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Accounts.

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c) may have credit or debit balances in their d) debit balances in their Capital Accounts.
Capital Accounts.
6. Sunbeam Ltd. issued 20,000, 11% debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of [1]
ad
5%. The Loss on Issue of Debentures Account will debited by:

a) ₹ 22,00,000 b) ₹ 3,00,000
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c) ₹ 1,00,000 d) ₹ 2,00,000
OR
On liquidation of company, principal amount of debentures is returned:
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a) After Equity Capital b) Last of All

c) First of All d) Before Equity Capital

Aa

7. Assertion (A): A public company must have at least 7 members and there is no limit as to the maximum number [1]
of members.
Reason (R): A private company must have at least 2 members and maximum 200 excluding its present or past
employees.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

8. According to the Partnership Act, 1932, the interest payable to the deceased partner on the amount left by him [1]
will be:

a) 10% p.a. b) 16% p.a.

c) 6% p.a. d) 12% p.a.

OR
Z is a partner in a firm. He withdraw regularly ₹ 2,000 every month for the six months ending 31st March, 2019. If

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 interest on drawings is charged @ 8% p.a. the interest charged will be:

a) ₹ 480 b) ₹ 280

c) ₹ 240 d) ₹ 200

Question No. 9 to 10 are based on the given text. Read the text carefully and answer the questions: [2]
P, Q and R are partners in a firm. Their capitals are ₹ 30,000, ₹ 20,000 and ₹ 10,000 respectively. As per partnership
deed,
i. R is to be allowed remuneration of ₹ 3,000 p.a.
ii. Interest on capital @ 5% p.a.
iii. Profits should be distributed in the ratio of 2:2:1.
Ignoring the above terms, net profit of ₹ 18,000 was distributed among the partners equally
9. How much interest on capital is to be credited to partner P?

a) ₹ 1,500 b) ₹ 1,000

c) ₹ 900 d) ₹ 800

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10. How much profit is to be credited to Partner Q after all adjustments?

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a) ₹ 1,000 b) ₹ 2,400

c) ₹ 4,800 d) ₹ 1,200
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11. A, B and C are partners in a firm without any agreement. They have contributed ₹ 5,000, ₹ 3,000 and ₹ 2,000 by [1]
way of capital in the firm. A was unable to work for six months in a year due to illness. At the end of year, firm
earned a profit of ₹ 1,500. A's share in the profit will be:
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a) ₹ 375 b) ₹ 750

c) ₹ 500 d) ₹ 250
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12. Which shareholders can have voting rights in all circumstances. [1]

a) Preference Shareholders b) Equity Shareholders

Aa

c) Bonus Shareholders d) Both Preference and equity Shareholders

13. Elpis Ltd. Is registered with authorised capital of ₹ 10,00,000 divided into 1,00,000 Equity share of ₹ 10 each. [1]
Out of which 80,000 shares are offered to the public and applications were received for 75,000 shares only.
Company called ₹ 8 per share till now.

(a) Authorised share capital (i) 8,00,000

(b) Issued share capital (ii) 6,00,000

(c) Subscribed share capital (iii) 10,00,000

(d) Called up capital (iv) 7,50,000

a) (a) - (iii), (b) - (iv), (c) - (i), (d) - (ii) b) (a) - (ii), (b) - (iii), (c) - (i), (d) - (iv)

c) (a) - (iii), (b) - (i), (c) - (iv), (d) - (ii) d) (a) - (ii), (b) - (iii), (c) - (iv), (d) - (i)

14. Radha is a partner in a firm. She withdrew ₹ 6,000 in the beginning of each quarter during the year ended 31st [1]
March, 2023. Interest on her drawings @ 10% p.a. will be:

a) ₹ 1,200 b) ₹ 600

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 c) ₹ 900 d) ₹ 1,500
15. X, Y and Z who are sharing profits and losses in the ratio of 5 : 3 : 2, decide to share future profits and losses in [1]

the ratio of 2 : 3 : 5 w.e.f. 1st April, 2023, after admission of A. An extract of the Balance Sheet as at 31st March,
2023 is as follows:

Liabilities ₹ Assets ₹

Creditors 2,00,000 Plant and Machinery 2,00,000

Less: Provision for Depreciation 10,000 1,90,000

If creditors of ₹ 10,000 were not recorded and are now to be recorded, the Journal entry will be:

a) Revaluation ₹ b) Revaluation A/c Dr. ₹ 10,000

Dr.
A/c 2,10,000
To Creditors ₹ 10,000
₹
To Creditors A/c
2,10,000

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c) Creditors A/c Dr. ₹ 10,000 d) ₹

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Creditors A/c Dr.
2,10,000
To Revaluation A/c ₹ 10,000
To Revaluation ₹
A/c 2,10,000
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OR
X and Y are Sharing profits in the ratio of 3:2. They admit Z as a new partner. At the time of admission, the
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following information is available:

Balance sheet (Extract)

Liabilities Amount Assets Amount

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Debtors 50,000

(-) Provision for doubtful debt 5,000 45,000

Aa

Match the followings:

(a) All debtors are good and provision for doubtful debts no longer needed (i) Revaluation Profit = 1000

(b) Provision for doubtful debts was found in excess by ₹ 2000 (ii) Revaluation Profit = 5000

(c) Provision for doubtful debts reduced to ₹ 4000 (iii) Revaluation Profit = 2000

(d) Provision for doubtful debts increased to ₹ 6000 (iv) Revaluation Loss = 1000

a) (a) - (iii), (b) - (i), (c) - (iv), (d) - (ii) b) (a) - (iii), (b) - (iv), (c) - (i), (d) - (ii)

c) (a) - (ii), (b) - (iii), (c) - (iv), (d) - (i) d) (a) - (ii), (b) - (iii), (c) - (i), (d) - (iv)
16. On dissolution of firm, which item is debited to the realisation account? [1]

a) Amount of unrecorded asset b) Creditor’s balance shown in the Balance

Sheet

c) Balance of reserve fund d) Realisation expenses paid by partner

17. Suraj, Sarita and Madan were partners sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st [3]

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 April 2022, they mutually agreed to share profits and losses in the ratio of 2 : 2 : 1.
On that date, there was a workmen’s compensation fund of ₹ 90,000 in the books of the firm. It was agreed that:
i. Goodwill of the firm be valued at ₹ 70,000.
ii. Claim for workmen's compensation amounted to ₹ 40,000.
iii. Profit on revaluation of assets and re-assessment of liabilities amounted to ₹ 40,000.
Pass necessary journal entries for the above transactions in the books of the firm.
18. A and B are partners sharing profits and loss in the ratio of their capitals which were ₹ 6,00,000 and ₹ 4,00,000 [3]
respectively on 1st April 2022. The partnership deed provides that:
i. Both partners will get a monthly salary of ₹ 20,000 each;
ii. Interest on capital will be allowed @ 8% p.a.;
iii. A will get a quarterly rent of ₹ 24,000 for the use of his property by the firm.

On 1st July 2022, A and B granted loans of ₹ 1,00,000 and ₹ 50,000 respectively to the firm. During the year

ended 31st March 2023, the firm incurred a loss of ₹ 17,250 before any adjustment is made as per the partnership
deed.

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Prepare an account showing the distribution of profit/loss.

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OR
Amar and Bimal entered into partnership on 1st April, 2022 contributing ₹ 1,50,000 and ₹ 2,50,000 respectively
towards capital. The Partnership Deed provided for interest on capital @ 10% p.a. It also provided that Capital
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Accounts shall be maintained following Fixed Capital Accounts method. The firm earned net profit of ₹ 1,00,000 for
the year ended 31st March, 2023.
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Pass the Journal entry for interest on capital.

19. Venus Ltd. is a real estate company. To discharge its Corporate Social Responsibility, it decided to construct a [3]
night shelter for the homeless. The company took over assets of ₹ 10,00,000 and liabilities of ₹ 1,80,000 of
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Cineline Ltd. for ₹ 7,60,000. Venus Ltd., issued 9% Debentures of ₹ 100 each at a discount of 5% in full
satisfaction of the purchase consideration in favour of Cineline Ltd.
Pass necessary Journal entries in the books of Venus Ltd. for the above transactions.
Aa

OR
Mohan Ltd. had an authorized capital of 2,00,000 equity shares of ₹ 10 each. The company offered to the public for
subscription 1,00,000 shares. Applications were received for 97,000 shares. The amount was payable as follows: on
application ₹ 2 per share, ₹ 4 payable each on allotment and first and final call. A shareholder holding 600 shares
failed to pay the allotment money. His shares were forfeited. The company did not make the first and final call.
Present the share capital in the Balance Sheet of the company as per Schedule III of the Companies Act, 2013. Also
prepare Notes to accounts.
20. Form the following particulars, calculate value of goodwill of a firm by applying Capitalisation of Average [3]
Profit Method:

i. Profits of last five consecutive years ending 31st March are: 2023 - ₹ 54,000; 2022 - ₹ 42,000; 2021 - ₹
39,000; 2020 - ₹ 67,000 and 2019 - ₹ 59,000.
ii. Capitalisation rate 20%.
iii. Net assets of the firm ₹ 2,00,000.
21. Sandesh Ltd. has an authorised capital of ₹ 30,00,000 divided into equity shares of ₹ 10 each. The company [4]
invited applications for issuing 70,000 shares. Applications for 69,000 shares were received. All calls were made

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 and duly received except the first and final call of ₹ 2 per share on 3,000 shares. These shares were forfeited.
a. Present the Share Capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies
Act, 2013.
b. Also prepare Notes to Accounts for the same.
22. Pass the necessary journal entries for the following transactions in case of dissolution of the partnership firm of [4]
X and Y after various assets (other than cash and bank) and third party liabilities have been transferred to
Realisation Account:
i. Dissolution expenses were ₹ 4,000.
ii. Machinery of the book value of ₹ 50,000 was sold in the market for ₹ 47,000 for which a commission of ₹
500 was paid to the broker.
iii. A creditor for ₹ 70,000 accepted stock valued at ₹ 90,000 and paid to the firm ₹ 20,000.
iv. Loss on realisation ₹ 40,000 was divided between the partners X and Y in the ratio of 5 : 3.
23. New Company Ltd. has a nominal capital of ₹ 2,50,000 in shares of ₹ 10. Of these, 4,000 shares were issued as [6]
fully paid in payment of building purchased, 8,000 shares were subscribed by the public and during the first year

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₹ 5 per share were called-up, payable ₹ 2 on the application, ₹ 1 on the allotment, ₹ 1 on the first call and ₹ 1 on

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the second call. The amounts received in respect of these shares were:

On 6,000 shares Full amount called

On 1,250 shares ₹ 4 per share

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On 500 shares ₹ 3 per share

On 250 shares ₹ 2 per share

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The Directors forfeited the 750 shares on which less than ₹ 4 had been paid. The shares were subsequently
reissued at ₹ 3 per share.
Pass journal entries recording the above transactions and prepare the company's Balance Sheet.
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OR
i. Sonu Ltd., forfeited 800 shares of ₹ 10 each, ₹ 7.50 paid, for non-payment of Final Call of ₹ 2.50 per share. Out
Aa

of these, 600 shares were re-issued as fully paid up in such a way that ₹ 2,100 were transferred to capital reserve.
Pass necessary journal entries.
ii. X Ltd., forfeited 800 shares of ₹ 10 each, ₹ 7.50 called-up, for non-payment of First Call of ₹ 2.50 per share. Out
of these, 600 shares were re-issued for ₹ 6 per share as ₹ 7.50 paid up. Pass necessary journal entries.
iii. 400 shares of ₹ 10, on which ₹ 8 has been called and ₹ 6 has been paid, are forfeited. Out of these, 300 are re-
issued for ₹ 7 as fully paid. Pass necessary journal entries.
24. A and B are partners and the profit is divided as follows: to A; to B and carried to a Reserve Account. [6]
1 1 1

2 3 6

They admit C as a partner on 1st April 2017 at which date the Balance Sheet of the firm was as under:

Liabilities ₹ Assets ₹

Creditors 1,60,000 Cash at bank 20,000

Outstanding Expenses 12,000 Debtors 2,20,000

Reserve 90,000 Stock 1,80,000

capital A/cs: Plant and machinery 1,50,000

A 3,18,000 Buildings 2,00,000

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 B 2,00,000 5,18,000 Advertisement Expenditure 10,000

7,80,000 7,80,000

Following terms were agreed upon:

i. Stock is undervalued by 10%.
ii. Goodwill of the firm valued at ₹ 60,000.
iii. Depreciation of ₹ 30,000 had been omitted on plant and machinery for the year ended 31st March 2017.
iv. Creditors include a contingent liability of ₹ 50,000 which has been deciding by the Court at ₹ 43,000.
v. In respect of debtors, the following debts proved bad or doubtful:
₹ 15,000 due from Ram - bad to the full extent;
₹ 20,000 due from Shyam - insolvent, estate expected to pay only 40%.
vi. C is given 1/5th share of profits which he acquires equally from A and B. C is to bring in capital
proportionate to his share of profits in the firm.
You are required to prepare Revaluation Account, Capital Accounts and the new balance sheet of the firm.
OR

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Yogesh, Ram and Sumit were partners in a firm sharing profits in the ratio of 7 : 2 : 1. Balance Sheet of the firm as on

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31st March, 2023 was as follows:

Liabilities ₹ Assets ₹
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Capitals Goodwill 40,000

Yogesh 70,000 Land and Building 60,000

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Ram 20,000 Machinery 40,000

Sumit 10,000 1,00,000 Stock 7,000

General Reserve 20,000 Debtors 12,000

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Loan from Ram 30,000 Cash 5,000

Creditors 14,000
Aa

1,64,000 1,64,000

Ram died on 24th August, 2023. Partnership Deed provides for the settlement of claims on the death of a partner in
addition to his capital as under:
i. Share of profit of the deceased partner to be computed up to the date of death on the basis of average net profit of
the past three years. Average net profit of past three years was ₹ 80,000.
ii. His share in profit/loss on revaluation of assets and re-assessment of liabilities which were as follows: Land and
building were revalued at ₹ 94,000. Machinery at ₹ 38,000 and stock at ₹ 5,000. A provision of 2.5% was to be
created on debtors for doubtful debts.
iii. Net amount payable to 'Ram's executors was transferred to his Loan Account, to be paid later on.
Prepare Revaluation Account, Partners' Capital Accounts, Ram's Executor's Account and Balance Sheet of Yogesh
and Sumit who decided to continue the business keeping their capital balances in their new profit-sharing ratio. Any
surplus or deficit to be transferred to Current Accounts of the partners.
25. X, Y and Z were partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2019 their balance [6]
sheet was as follows

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 Balance Sheet
as at 31st March, 2019

Liabilities Amt (Rs) Assets Amt (Rs)

Creditors 21,000 Land and Building 62,000

Investment Fluctuation Fund 10,000 Motor Vans 20,000

Profit and Loss A/c 40,000 Investments 19,000

Capital A/cs Machinery 12,000

X 50,000 Stock 15,000

Y 40,000 Debtors 40,000

Z 20,000 1,10,000 (-) Provision for Doubtful Debts (3,000) 37,000

Cash 16,000

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1,81,000 1,81,000

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On the above date Y retired and X and Z agreed to continue the business on the following terms
i. Goodwill of the firm was valued at Rs 51,000.
ii. There was a claim of Rs 4,000 for workmen’s compensation.
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iii. Provision for bad debts was to be reduced by Rs 1,000.
iv. Y will be paid Rs 8,200 in cash and the balance will be transferred in his loan account which will be paid in
four equal yearly instalments together with interest @ 10% per annum.
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v. The new profit sharing ratio between X and Z will be 3 : 2 and their capitals will be m their new profit
sharing ratio. The capital adjustments will be done by opening current accounts.
Prepare revaluation account, partners’ capital accounts and the balance sheet of the reconstituted firm.
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26. On 1st April, 2018, Moonlight Ltd. issued 1,000, 9% Debentures of ₹200 each at a discount of 5% redeemable [6]
after 5 years at a premium of 10%. All the debentures were subscribed and allotment was made. The balance in
Securities Premium Reserve is ₹10,000. Profit for the year was ₹50,000.
Aa

Pass the Journal entries for issue of debentures and writing off the loss from Securities Premium Reserve first
and thereafter from profit for the year. Prepare the extract of the Balance Sheet as at 31st March, 2019.
Part B :- Analysis of Financial Statements
27. Analysis of financial statements of two or more enterprises is known as: [1]

a) Cross-sectional Analysis b) Internal Analysis

c) Time Series Analysis d) Horizontal Analysis

OR
From the following information calculate other income: Sale of product = ₹ 27,000, Sale of services = ₹ 30,000,
Commission received = ₹ 60,000, Excise duty paid = ₹ 1,50,000, Dividend from investment = ₹ 10,000

a) ₹ (23,000) loss b) ₹ 23,000

c) ₹ 70,000 d) ₹ 1,27,000
28. Debt equity ratio = 2 : 1; Total asset to debt ratio = 1 : 1; Total asset = 4,00,000 Proprietary ratio will be: [1]

a) 2 : 1 b) 3 : 1

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 c) 0.67 : 1 d) 0.5 : 1
29. In case of a financial enterprise whose main business is lending and borrowing, interest paid and interest [1]
received are classified as:

a) Financing activities b) Cash equivalents

c) Investing activities d) Operating activities

OR
Which of the following will result in flow of cash?

a) Cheques of ₹ 20,000 deposited in the bank b) Cash withdrawn from the bank ₹ 50,000

c) ₹ 2,00,000, 9% debentures issued to vendors d) ₹ 30,000 received from debtors

of machinery
30. Which activity are the main revenue-generating activities of the enterprises? [1]

a) Cash flow from investment activities b) Cash flow from operating activities

c) Non Cash transactions d) Cash flow from management activities

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31. From the following information for the year ended 31st March, 2023, prepare notes to accounts to determine the [3]

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amount to be shown in Statement of Profit and Loss against Change in Inventory:

Opening Inventory Closing Inventory

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₹ ₹

Finished Goods 10,00,000 9,40,000

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Work-in-Progress (Semi-Finished Goods) 5,00,000 6,00,000

Stock-in Trade 8,00,000 7,30,000

Materials 1,00,000 1,50,000

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32. Calculate Revenue from operations of BN Ltd. From the following information: [3]

Current assets ₹ 8,00,000

Aa

Quick Ratio 1.5 : 1

Current Ratio 2:1

Inventory Turnover Ratio 6 times.

Goods were sold at a profit of 25% on cost.

33. Following information is related to Harsh Ltd. [4]

(₹ in Lakhs)

31.3.2023 31.3.2022
Particulars
₹ ₹

Equity Share Capital 16.00 16.00

Preference Share Capital 2.00 2.00

Reserves and Surplus 5.40 4.00

Non-Current Liabilities 14.40 14.00

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 Current Liabilities 7.20 4.00

Non-Current Assets

Property, Plant and Equipment and Intangible Assets 30.60 28.00

Current Assets 14.40 12.00

You are required to prepare a Common Size Balance Sheet.

OR
Following is the statement of profit and loss of Moon India Ltd for the year ended 31st March, 2014 and 2015.

Particulars Note No. 31st March, 2015 Amt (Rs.) 31st March, 2014 Amt (Rs.)

Revenue from Operations 50,00,000 40,00,000

Other Incomes 2,00,000 10,00,000

Employee benefit Expenses 60% of Total Revenue 50% of Total Revenue

Other Expenses 10% of Employee benefit Expenses 20% of Employee benefit Expenses

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Tax Rate 50% 40%

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The motto of Moon India Ltd is to produce and distribute green energy in the backward areas of India. It has also
taken up a project of giving vocational training to the girls belonging to the backward areas of Rajasthan. You are
required to prepare a comparative statement of profit and loss of Moon India Ltd from the given statement of profit
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and loss and also identify any two values that the company wishes to convey to the society.
34. From the following Balance Sheets of Xerox Ltd., prepare cash flow statement. [6]
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Particulars Note No. 31st March, 2017 (₹) 31st March, 2016 (₹)

I. Equity and Liabilities

1. Shareholders' Funds
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(a) Share Capital 15,00,000 10,00,000

(b) Reserve and surplus

Aa

7,50,000 6,00,000
(Balance in Statement of Profit and Loss)

2. Non-Current Liabilities

Long-term Borrowings 1 1,00,000 2,00,000

3. Current Liabilities

(a) Trade Payables 1,00,000 1,10,000

(b) Short-term Provision

95,000 80,000
(Provision for taxation)

Total 25,45,000 19,90,000

II.ASSETS

1. Non-Current Assets

(a) Fixed Assets

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(i) Tangible Assets 2 10,10,000 12,00,000

(ii) Intangible Assets (Goodwill) 1,80,000 2,00,000

(b) Non-Current Investments 6,00,000 -

2. Current Assets

(a) Inventories 1,80,000 1,00,000

(b) Trade Receivables 2,00,000 1,50,000

(c) Cash and Cash Equivalents 3 3,75,000 3,40,000

Total 25,45,000 19,90,000

Notes to Accounts:

31st March, 31st March,

Particulars
2017 (₹) 2016 (₹)

1. Long-term Borrowings

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i) 9% Debentures - 2,00,000

ii) 5% Bank loan 1,00,000 -

1,00,000 2,00,000
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2. Tangible Assets
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i) Land and Building 6,50,000 8,00,000

ii) Plant and Machinery 3,60,000 4,00,000

10,10,000 12,00,000
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3. Cash and Cash Equivalents

i) Cash in Hand 70,000 50,000

Aa

ii) Bank Balance 3,05,000 2,90,000

3,75,000 3,40,000

Additional information:
i. Proposed dividend 2016-17 is ₹ 2,25,000 and for 2015-16 is ₹ 1,50,000.
ii. Income tax paid during the year includes ₹ 15,000 on account of dividend tax.
iii. Land and building book value ₹ 1,50,000 was sold at a profit of 10%.
iv. The rate of depreciation on plant and machinery is 10%.
v. 9% debentures redeemed on 1st April 2016, 5% bank loan was opted on March 31, 2017.

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