SEPTEMBER 2021

BOOK-KEEPING & ACCOUNTANCY

Att9mpt all of the followtng sub
Q.1• ·questions•
l, (A) Select the correct. option and reWrit8 the •
sentences·
, (i) A statement showing financial po •u •
! {a) Trial Balance s, ~n of th e business is called _ _ _ _ _ . (Ch. 1)
I (b) Capital t
I (2) The set of programme that dir ct th
1c 1 Balance Sheet
,, :,
1d 1 Trad'
,, "
A
,ng ccoun
1 (s) Software (b1 ; e computer to perfonn desired task is ___,. (Ch. 10)
1 rogramme (c) Application (cl) Hardware
I (3) The Information supplied by financial st t
r (s) Universal b a ements are _ _ _ in nature. (Ch. 9)
t (. ) Complete (c) Historical (d) None of these
t (-4) The balance on the Capital Ale of ret'red I
• (a) Executor's loan (b) L partner is transferred to his_ _ Account. {Ch. 4)
i . oan (c) Wde's loan (cl) Son's loan
; (5) The closing balance of Receipts and Payments account usually represents
t . balance. {Ch. 2)
: (a) Clos,ng Stock . {b) Cash and Bank (c) Surplus
(d) Deficit
!'t (8) Write
.....,.
one word/tenn/phras hi h
f Suu.,men ts. e w c can substitute each of the following
i (1) The shares on which dividend is not fixed. {Ch. BJ
\ (2) Amount which is not recoverable from Drawee on a t f· •
t . .. . . . ccoun o mso1vency. {Ch. 7J I
; (3) Liability hkely to anse in future on happening of some events. {Ch. 6) -i

i f (4) Ratio by which surviving partners are benefited on the death of the partner. (Ch. 5)
(5) Account opened for revaluation of assets and liabilities. (Ch. )
i (C) Find the odd one:
3
(05)
i (1) oaaease in furniture, Patents written off, Increases in bills payable, R.D.D. written off. (Ch. 3)
(2) Subscription received, Sundry receipts, Interest received, Audit fees. (Ch. 2)
f (3) Dock charges, Printing and stationery, Custom duty, Wages and salary. (Ch. 1)
j (4) Electricity Bill, Trade Bill, Inland Bill, Foreign Bill. (Ch. 7)
! (5) Creditors, Land and Building, General Reserve, Capital. (Ch. 6)
I
_(D) Calculate the following : .

I
f (1) When depreciation Is ?7,500 and closing balance of library books is ?92,500. Calculate the opening balance of
Library books. (Ch. 2)
. (05)

j" (2) A, B and C are partners sharing profits in proportion of..!.., ..!.. and ..!... If A retires, what will be the
new profit sharing ratio? (Ch. 4) 2 3 • 6
£
l (3) 12% p.a. interest on Bank loan f 80,000 for 6 months. Calculate interest. (Ch.1)
1(4) Insolvent partners capital Ale debit side total is f 1,00,000 and credit side total is t' 60,000. Calculate deficiency. (Ch. I)
! (5) lnsuranCe premium is paid for the year ending 30th September, 2020, amounted to t' 1,500. Calculate prepaid Insurance
:! assuming that the year ending is 31 st March, 2020. (Ch. 1) · .,
. .
tQ.2 The Balance sheet of Prathamesh and Shiv who share profit and losses In the ratio of 3: 2 as at 31• Mardi, 2020 wu
f
!
• a under: [10]
lI Balance Sheet as on 31 st March 2020 '
'
UabHftln Amt.(~ Assets Amt.(')
Cndlln 49,600 Cash at Bank 4,000
Clplllll: . Building 20,000

..,
Pt•wmesh
.
28,000 Machinery
28,000 Furniture
28,000
1,200
Stock 18,400
Oebtorl 38,000
1,05.800 1,05,800
. ., .,. _.-;

111·•1· ------------~-=-=-=-=-~=-:..:..:_::_::_
--·- T hey take Ajay into partnership on 1sr April, 2020. The terms being:
(1) Ajay shall pay f4,000 as his share of Goodwill, the amount to be retained in business.
(2) He shall bring int 12,000 as capital for ¼th share in future profits.
(3) The firm's assets were to be revalued as under:
Building f 24,000, Machinery and Furniture to be reduced by 10 %, a provision of 5 % on debtors is to be nUlde f e r ~
debts; stock is to be taken at a value off 20 000. · • • •. •
Prepare: (i} Profit and loss Adjustmen~ Account. (ii) Capital Account of partners and • :
(iii) New Balance Sheet. (Ch. 3)
OR
Q.2 Given below Is the Balance sheet of Geeta, Yogita and Pranita who were sharing profits and losses equany: (11)
st
Balance Sheet as on 31 March, 2018
Liabilities Amt. (f) Assets Amt,(')
Creditors 10,500 Motor Car 25,000
Bank Overdraft 5,000 Machinery 40,000
General Reserve 12,000 Furniture 15,000
Capita! Accounts: Debtors 16,000
Geeta 28,700 less: R.D.D. 2000 14,000
Yogita 31,800 Cash 24,000
Pranita 30,000
1.18,000
Geeta retired on pt April, 201 B from the firm on the following terms:
(1) Furniture to be valued f 14,000, Machinery at f 38,000, and motor car ?23,800.
(2) Goodwin of the firm be valued at f 15,000. However only Geeta's share in it is to be raised in the books.
(3) RO.O. be maintained at 5 % on debtors.
Prepare: (I) Revaluation Account, (ii) Partners' Capital Account (iii) Balance Sheet of new firm. •
Q.3 Prabhakar, Sushil and Sunil were in partnership sharing profit and losses in the ratio 2: 2: 1. Their balance
on 31• March, 2019 was as under:
Balance Sheet as on 31 st March, 2019
Liabilities Amt. (f} Assets
Capital: Bank
Prabhakar 6,000 Loans and Advances
Sushi! 4,000 Debtors . 12.soa
Sunil 3,000 Goodwill 1,500
Prabha's Loan Ale 12,000 Plant 2,000
Sundry creditors 12,000 Land 21,000
Bills payable 2,000
39,000 39
They decided to dissolve the firm as follows:
( 1) Assets realised as: land f 18,000; Goodwill f 7,500; Loans and Advances f 1,200; 10 % of the debts proved bad.
(2} Prabha"s loan was <flSCharged along with t600 as interest.
(3) CreditOIS and Bills payable paid at 5% discount.
(4) Prabhakar took plant at Book value.
(5) Reatisation expenses amounted to f2,000.
Prepare: (i) Realisation Account. (ii) Partners' Capital Account and (Iii) Bank Account. (Ch. 6)
OR
Q.3 Mohini sold goods to Rohini worth f2,400 and accepted the bill drawn (10)
by Mohini for 2 months. Mohini discounted the bill with. Bank of Maharashtra one month. at 15 % p.a. The bil WM
dishonoured on the due date and Rohini requested Mohin, to accept f 400 along with interest f 55 in cash. Mohini agreed and
for the balance Rohini accepted a new bill for 3 months. But Rohini became insolvent and only 25 % could be l'900Y9Ntd from
her estate.
Prepar9: Journal Entries In the Books of Mohlnl (Ch. 7)
QA Nlharika Ud. Issued 10,000 equity shares of f10 each at• premium (Ii
ot f 2 per share payable as foRows;
On application t 3 per share
On allot!, 1119nt t S per share (including premium)
• On rirst sld final cal t 4 per share
 .I septet1Wt:Jl .:v.:, . - · · :.
• ncations were received for 12 ooo t th8 appncant1:TIW - -
, . APP. . n money was adi·u ted : equity share• An<I pro~rata allotment was made u aO ·. • .•
appl1cat10 s with allotment . •• . • . .
oeeP"H who was alloted 20 shares failed to pay first and final call And her shares were forfeited. •
P·•• Joun,al
-
Entrlea In lht booka of Nlharlk Ltd
R • (Ch. 8)
1
·,• I,;

. -~}
OR •. -
Q, fiplaln th9 Importance of computerized accounting 1y1t,in. (Ch. 10) . , · i

• •. • sachln, Oeepak 8nd Gopal were partnera •haring profits and 101111 In th• ratio of 3: 2: 1 reipectlvtly.
a.5 fhtlr balance aheet aa on 31'' March, 2020 la H under: . '1
•-~

st
---;--;:-;;;.;;.::------.".B:.:a'.'.!lai:;_nc~•~S~h~lll~t..!a!_!•on 31 March 2020 --- •
--:::-:--L_la_bl_llt_le_,_________l...,.:A~m~t:..!.(~f)~---·--·~:~A;•~•-e~-t:_•,:=~-----r-Amt;__-:;"(f)~.;:1
4ecounts: Bank N 7.(JMJ
~A~1•n
:>i"''. 15,000 Investment
9,000
c,eepak 10,000 Dobtors 8,000
1,000 1,000
GOP81 5,000 less: R.0.0.
10,000
creditor! 4,000 Motor Car
20,000
eaok Loan 10,000 Machinery
eaispayable 9,000
53,000
83,000
th
~opal died on 30 June, 2020 and the following adjustmonts were made.
- (i) Gopal's share of goodwill is to be calculated at 2 years purchase of average profit of last 5 years. .
(Z) Gopal's share of profit up to his death to be calculated on the basis of avoroge profit of last 2 years. _
. (3) Five years profits were - I year '3,000, II year, 5,500, Ill yaar , 3,500, IV year f 6,000, V yoar , 12,000 respectively.
• (4) All debtors were good. -
• (S) Assets were revalued as: Machinery ,22,000, Motor Car t9,000, Investment f 8,500.
prepare: (1} Profit and Lou Adjustment Account
(2) Gopal'a Capital Account
(3) Calculate Gopal'a share of goodwlll
(4) Calculate Gopal'a 1hart on profit up to the date of htI death. (Ch, 8)

t: OR
: Q.5 Following Is the balance sheet of Mukesh Company Ltd. 01 on 31 11 March, 2018:
Balance Sheet as on 31 11 MarchI 2018
- Llabllltles Amt.(') Assets Amt. {f)
s11are Cspltat 37,000 Land end Building 40,000
Reserve and Surplus 10,000 Plant and Machinery 10,000
12% Loans 10,000 Furniture 7,000
8% Debentures 20,000 Investments 17,000
Sundry Creditors 9,000 Sundry Debtors 12,000
86,000 88,000
! Convert the above Balance sheet Into Vertical Balance Sheet. (Ch. 9)
'·
, Q.6 Following Is the balance sheet and Receipts and Payments Ale of Pol Hospital, Parbhanl. (12)
i · -
Balance Sheet as on 1•t April, 2019
Llabllltles Amt. (t) A11ets Amt. (t)
capital fund 89,850 Outstanding Subscription 400
Outstanding salary 1,500 Equipments 14,000
Medicines bill unpaid 900 Furniture 5,000
Outstanding Sundry Expenses II 150 Bulldlng •70,000
II .,
II • Cash In hand 500
Cash at bank 2,500
92,400 92,400
.... ... ,__ .. . ·····- -· -• --·· ... _,
Bl
Dr.
UTTAM's Xll Book-Keeping &Accountancy Papers Solutio n,.
Receipts and Payments Account for the year ended on 31• March, 2020
Alnt.(')
.
Cr.

-
Receipts Amt. (f) Payments
To Balance bid
By Medicines 5,00o
Cash in hand
500 (included previous
Cash at bank
2,500 year outstanding)
To Subscription
9,000 By Salaries 5.200
(included t 400 received
(induded previous
for previous year)
year outstanding)
To Sale of furniture
1,500 By Taxes 720
(Book value t 2,000)
By Sundry Expenses
To Donations
5,000 (2018-19) 150
( capitalized)
By Insurance s.ooo
To Life membership fees
3,000 By Stationery 2.000
To Visit Fees
3,500 By EJecirici1y bill 6.000
To Mis. Receipts
1,500 By Balance c/d
To Sale of old Newspaper
500 Cash in hand 830
Cash at bank 2,100
27,000 27,000
Additional Information :
(1) 50 % of Life membership fees should be capitalized.
(2) Outstanding subscription t 2,000.
(3) Depreciate Building by 10% p.a. and Equipment by t 1,200.
(4) Outstanding salaryt800.
(5) Prepaid taxes t 100
Prepare:
Income and Expenditure Account for the year ended 31• March, 2020. (Ch. 2)
Q.7 M/~ Wardha Traders Is a partnership firm In which, Ramesh and Suresh are partners sharing profits
and losses
In equal ratio. From the Trial Balance given below and Adjustments , you are required to prepare Trading
and
Profit and Loss Account for the year ended on 31• March, 2017 and Balance Sheet as on that date.
Trial Balance as on 31 st March, 2017
Debit Balance Amt.(') Credit Balance Amt.(')
Stock (1st April, 2016) 32,500 Sundry Creditors 45,325
Purchases 44,500 Sales 61,000
Sundry Debtors 1.00.000 Capital:
Investment 40,500 Ramesh 1,20,000
Insurance 10,200 Suresh 40,000
Plant and machinery 15,000
Salaries 4,850
Bad debts 500
Fumiture 12,500
Cash in hand s,ns
2,66,325
2.61.325
Adjustmen ts:
(1) Closing stock is valued at f28,000.
(2) Goods of f 3,000 distributed as a free sample.
 ...provide further ~d debts of ,aoo.
• <'~ oepreciate furniture at 5 % p.a.
; ::) insurance , 1,875 is prepaid. (Ch. 1)

CHAPTER-WISE MARKS DISTRIBUTION FOR SEPTEMBER 2021

Chapter No. Marks Total _,
Objectives Problems . ·.
1 1 + 1 + 1 + 1 + 12 16
4 12
2 1 + 1 + 1 + 1 + 12 16
4 12
3 1 + 1 + 10 12
2 10
4 1 + 1 + 10 12
2 10
5 1+8 9
1 8
6 1 + 1 + 1 + 10
3 10 13
7 1 + 1 + 10 12
2 10
8 1+8
1 8 9
9 1+8 1 8 9
10 1+8 1 8 9
Total 20 96 116