ARDEN PROGRESSIVE SCHOOL

LAMACHAUR, HALDWANI
PREBOARD-II EXAMINATION (2024-25)
GRADE – XII
SUBJECT – ACCOUNTANCY (055)

Time: 3 HOUR M.M. 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 – Both are compulsory for all candidates.
4. Question 1 to 16 and 27 to 30 carries 1 mark each.
5. Questions 17 to 20, 31and 32 carries 3 marks each.
6. Questions from 21 ,22 and 33 carries 4 marks each
7. Questions from 23 to 26 and 34 carries 6 marks each
8. 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

1. Ram, Rahim and Roshan were partners sharing profits and losses in the ratio of 2:2:1. Their fixed Capital
balances were ₹ 2,50,000; ₹ 2,00,000 and ₹ 1,50,000 respectively. For the year ended March 31, 2024 profits of
₹ 42,000 were distributed without providing for Interest on Capital @ 10% p.a as per the partnership deed.
While passing an adjustment entry, which of the following is correct?
A. Roshan will be debited by ₹ 2,100 C. Roshan will be credited by ₹ 3,000
B. Roshan will be credited by ₹ 2,100 D. Roshan will be debited by ₹ 3,000

2. Aman, Daman and Raman were partners sharing profits and losses in the ratio of 5:4:3. Raman’s fixed Capital
balance as on March 31, 2024 was ₹ 5,40,000. Which of the following items would have affected this Capital
balance?
A. Profit/Loss for the year C. Reduction in Capital due to Capital
B. Additional Capital introduced Adjustment
D. Both B and C
3. Savitri Ltd. issued 50,000, 8% Debentures of ₹ 100 each at certain rate of premium and to be
redeemed at 10% premium. At the time of writing off Loss on Issue of Debentures, Statement of
Profit and Loss was debited with ₹ 2,00,000. At what rate of premium, these debentures were issued?
A. 10% C. 6%
B. 16% D. 4%

OR

Attire Ltd, issued a prospectus inviting applications for 12,000 shares of ₹10 each payable ₹3 on
application, ₹ 5 on allotment and balance on call. Public had applied for certain number of shares and
application money was received. Which of the following application money, if received restricts the
company to proceed with the allotment of shares, as per SEBI guidelines?
A. ₹ 36,000 C. ₹ 30,000
B. ₹ 45,000 D. ₹ 32,400
4. Ganga and Jamuna are partners sharing profits in the ratio of 2:1. They admit Saraswati for 1/5th share
in future profits. On the date of admission, Ganga’s capital was ₹ 1,02,000 and Jamuna’s capital was
₹ 73,000. Saraswati brings ₹ 25,000 as her share of goodwill and she agrees to contribute
proportionate capital of the new firm. How much capital will be brought by Saraswati?
A. ₹ 43,750 C. ₹ 50,000
B. ₹ 37,500 D. ₹ 40,000

OR

Ram and Shyam were partners sharing profits and losses in the ratio of 3:2. Their balance sheet shows building
at ₹ 1,60,000. They admitted Mohan as a new partner for 1/4th share. In additional information it is given that
building is undervalued by 20%. The share of loss/gain of revaluation of Shyam is & current value of
building shown in new balance sheet is .
A. Gain ₹ 12,800, Value₹ 1,92,000 C. Gain ₹ 16,000, Value ₹ 2,00,000
B. Loss ₹ 12,800, Value₹ 1,28,000 D. Gain ₹ 40,000, Value ₹
2,00,000
5. Assertion(A): The value of Goodwill calculated on Average profit Method and Super profit Method is not the
same
Reason (R): The value of Goodwill calculated on Average profit Method and Super profit Method is not the same
as the basis of valuation is different.
In the context of the above two statements, which of the following is correct?
A. Both Assertion(A) and Reason (R) are true and Reason(R) is the correct explanation of Assertion(A)
B. Both Assertion(A) and Reason (R) are true and Reason(R) is not the correct explanation of Assertion(A)
C. Assertion(R) is true but the Reason(R) is false
D. Assertion(R) is false but the Reason(R) is true

6. Shares issued as sweat equity can be

I. Issued at par. III. Issued at a premium.
II. Issued at discount.
Which of the following is correct?
A. Only (i) is correct. C. All are correct.
B. Both (i) and (iii) are correct.
D. Only (ii) is correct.

OR
2,000 shares allotted to Ms. Regal, on which ₹ 80 each called up and ₹ 50 paid were forfeited and reissued
for ₹ 70 each as ₹ 90 paid up. Amount transferred to capital reserve A/c is
A. ₹ 1,00,000 C. ₹ 40,000
B. ₹ 60,000 D. ₹ 20,000
7. Durga Ltd. issued 80,000, 10% Debentures of ₹ 100 each at certain rate of discount and were to be
redeemed at 20% premium. Existing balance of Securities Premium before issuing of these debentures
was ₹ 25,00,000 and after writing off Loss on Issue of Debentures, the balance in Securities Premium
was ₹ 5,00,000. At what rate of discount, these debentures were issued?
A. 10% C. 25%
B. 5% D. 15%
8. At the time of dissolution of a firm, Creditors are ₹ 70,000; Firm’s Capital is ₹ 1,20,000; Cash Balance
is ₹ 10,000. Other assets realised ₹ 1,50,000. Gain/Loss in the realisation account will be:
A. ₹ 30,000 (Gain) C. ₹ 40,000 (Loss)
B. ₹ 40,000 (Gain) D. ₹ 30,000 (Loss)
OR
 Dada, Yuvi and Viru were partners sharing profits and losses in the ratio 3:2:1. Their books showed
Workmen Compensation Reserve of ₹ 1,00,000. Workmen Claim amounted to ₹ 60,000. How it will affect the
books of Accounts at the time of dissolution of firm?
A. Only ₹ 40,000 will be distributed amongst
partner’s capital account C. ₹ 60,000 will be credited to Realisation
B. ₹ 1,00,000 will be credited to Realisation Account and will be even paid off. Balance
Account and ₹ 60,000 will be paid off. ₹ 40,000 will be distributed amongst partners.
D. Only ₹ 60,000 will be credited to Realisation
Account and will be even paid off
9. Assertion: Partner’s current accounts are opened when their capital are fluctuating.
Reasoning: In case of Fixed capitals all the transactions other than Capital are done through Current account
of the partner.
A. Both A and R are true and R is the correct
explanation of A.
B. Both A and R are true but R is not the correct
explanation of A.
C. A is true but R is false
D. A is false but R is true
10. Rama, a partner took over Machinery of ₹ 50,000 in full settlement of her Loan of ₹ 60,000. Machinery was
already transferred to Realisation Account. How it will effect the Realisation Account?
A. Realisation Account will be credited by ₹ C. Realisation Account will be credited by ₹
60,000 50,000
B. Realisation Account will be credited by ₹ D. D. No effect on Realisation Account
10,000

11. Shubham a partner was being guaranteed that his share of profits will not be less than ₹ 20,000 p.a. Deficiency, if
any was to be borne by other partners Kanak and Gori equally. For the year ended 31st March, 2024 the firm
incurred loss of ₹ 60,000. What amount will be debited to Kanak’s Capital Account in total at the end of the
year?
A. ₹ 20,000 C. ₹ 45,000
B. ₹ 40,000 D. ₹ 30,000

12. If 10,000 shares of ₹10 each were forfeited for non-payment of final call money of ₹ 3 per share and
only 7,000 shares were re-issued @ ₹ 11 per share as fully paid up, then what is the amount of
maximum possible discount that company can allow at the time of re-issue of the remaining 3,000
shares?
A. ₹ 28,000 C. ₹ 9,000
B. ₹ 21,000 D. ₹ 16,000

13. Forfeiture of shares leads to reduction of Capital.

A. Authorised C. Subscribed
B. Issued D. Called up

14. P, Q and R were partners in the ratio of 3:2:1. As on 1st July 2020, they decided to alter their ratio. For this
purpose P decided to give ¼ of his share to Q, and Q decided to give ½ of his share to P and R equally.
What will be the Sacrifice/Gain of P?
A. 3/24 Sacrifice C. 2/24 Gain
B. 1/24 Sacrifice D. 1/24 Gain

15. Aen, Ben and Cen were partners sharing profit and losses in the ratio of 2:2:1. Books are closed on 31 st March
every year. Cen dies on 5th November,2023. Under the partnership deed, the executors of the deceased partner
are entitled to his share of profit to the date of death, calculate on the basis of last year’s profit. Profit for the year
ended 31st March ,2023 was Rs. 2,40,000. Cen’s share of profit will be:

A. ₹ 28,000 C. ₹ 28,800
B. ₹ 32,000 D. ₹ 48,000

OR
Mohit, Birat and Jikhar were partners sharing profits and losses in the ratio 3:1:1. Their Capital balance as on
March 31, 2024 was ₹ 3,00,000; ₹ 2,70,000 and ₹ 2,50,000 respectively. On the same date, they admitted Sachin
as a new partner for 20% share. Sachin was to bring ₹ 80,000 for his share of goodwill and 1/5 of the combined
capital of all the partners of new firm. What will be the amount of capital brought in by Sachin on his admission
as a new partner?
A. ₹ 2,25,000 C. ₹ 2,60,000
B. ₹ 1,80,000 D. ₹ 3,05,000

16. Diwaker and Subhaker were partners sharing profits and losses in the ratio 5:3. They admitted Niwaker as a new
partner. Diwaker sacrificed ¼ from his share and Subhaker sacrificed 1/6 of his share. What will be the new
ratio?
A. 6:5:5 C. 15:10:7
B. 9:5:10 D. 35:21:40
17. Pankaj, Quraisi and Rozer were partners with fixed capital of ₹ 80,000, ₹ 64,000 and ₹ 48,000. After distributing
the profit of ₹96,000 for the year ended 31st March 2022 in their agreed ratio of 3:1 : 1it was observed that:
a. Interest on capital was provided at 10% p.a. instead of 8% p.a.
b. Salary of ₹ 12,000 was credited to Pankaj of Quraisi.
You are required to give necessary rectifying entries using P&L adjustment account. (3)

18. Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share
in the profits. For this purpose, the goodwill of the firm was to be valued at four years' purchase of super profits.
The Balance Sheet of the firm on Saurabh's admission was as follows:
Liabilities Amount Assets Amount
(₹) (₹)
Capital Fixed Assets 75,000
Accounts (Tangible)
Amit 90,000 Furniture 15,000
Kartik 50,000 1,40,000 Stock 30,000
Creditors 5,000 Debtors 20,000
General Reserve 20,000 Cash 50,000
Bills payable 25,000
1,90,00 1,90,000
0
The normal rate of return is 12% p.a. Average profit of the firm for the last four years was ₹30,000. Calculate
Saurabh’s share of goodwill. (3)
OR

A, B and C were partners sharing profits, and losses in the ratio of 2:2:1. C died on 1st July, 2023 on which date
the capitals of A, B and C after all necessary adjustments stood at ₹74,000, ₹ 63,750 and 42,250 respectively. A
and B continued to carry on the business for six months without settling the accounts of C. During the period of
six months from 1 -7-2023, a profit of ₹ 20,500 is earned using the firm’s property. State which of the two
options available u/s 37 of the Indian Partnership Act, 1932 should be exercised by executors of C and why?
(3)

19. X Ltd. obtained loan of Rs. 8,00,000 from State Bank of India and issued 10,000; 9% Debentures of Rs. 100 each
as collateral security. How will issue of debentures be shown in the Balance Sheet? Also journalize. (3)

OR
A company forfeited 8,000 shares of ₹ 10 each on which ₹ 8 were called (including ₹ 1 premium) and ₹ 6 was
paid (including ₹ 1 premium). Out of these 5,000 shares were re- issued at maximum possible discount. Pass
necessary journal entries. (3)

20. Anshul, Babita and Chander were partners in a firm running a successful business of car accessories. They had
agreed to share profits and losses in the ratio of 1/2 : 1/3 : 1/6 respectively. After running business successfully
and without any disputes for 10 years, Babita decided to retire due to old age and the Anshul and Chander
decided to share future profits and losses in the ratio of 3 : 2. The accountant passed the following journal entry
for Babita share of goodwill and missed some information. Fill in the missing figures in the following Journal
entry and calculate the gaining ratio. (3)
Date Particulars L.F Dr Cr
 Anshul’s Capital A/c Dr ----------
Chander’s Capital A/c Dr 21,000
To Babita’s Capital A/c ------------
(Chander’s share of Goodwill
debited to the amounts of continuing
partners in their gaining ratio)

21. On 1st April 2018, Ginni Filaments Ltd. was formed with an authorized capital of ₹10,00,000 divided into
1,00,000 Equity Shares of ₹10 each. The company issued prospectus inviting applications for 90,000 equity
shares. The company received applications for 85,000 shares. During the first year, ₹8 were called. Vasu holding
1,000 shares &Vidhi holding 2,000 shares did not pay the first call of ₹2 per share. Vidhi’s shares were forfeited
after the first call and later on 1,500 of the forfeited shares were reissued at ₹6 per share, ₹8 called up.
Show share capital in the company's Balance Sheet as per Schedule – III, Part – I of the Companies Act, 2013.
Also prepare Notes to the Account for the same. (4)

22. The balance sheet of Suresh, Ramesh and Kamlesh who were sharing profit and losses in the ratio of 3:3:4 as at
31st March 2022 was as follows:
Liabilities ₹ Assets ₹
General reserve 10,000 Cash 16,000
Bills payable 5,000 Stock 44,000
Loan 12,000 Investments 47,000
Capital Land and building 60,000
Suresh 60000 Suresh’s loan 10,000
Ramesh 50000
Kamlesh 40000 150000
1,77,000 1,77,000
Suresh died on 30th June 2022. The partnership deed provided for the following on the death of a partner:
a. Goodwill of the firm be valued at two years purchase of average profits for last three years.
b. Suresh’s share of profit till the date of his death was to be calculated on the basis of sales. Sales for the year
ended 31st March,2022 was Rs 4,00,000 and that from 1st April to 30th June 2022 Rs 1,50,000. The profit for
the year ended 31st March,2022 was Rs 1,00,000.
c. interest on capital was to be provided @6%p.a
d. The average profit of last three years were Rs 42,000
e. According to Suresh’s will, the executor should donate his share to “Matrichaya”-an orphanage for girls.
Prepare Suresh’s executor loan account after transferring the balance from his capital, if the loan was repaid in
one installment with 6% p.a. interest on 31st march 2023. Show your working for point (b) (4)

23. A new company of Electronics Product was established in Delhi under Make in India campaign. To arrange the
finance, Vinod Ltd. Invites applications for 60,000 Shares of ₹100 each at a premium of ₹20 per share payable as
follows: (6)
On Application ₹40 including ₹10 premium
On Allotment ₹30 including ₹10 premium
on First Call ₹30
On Second & Final Call ₹20
Excess applications were received for 30,000 shares and pro-rata allotment was made on the application for
70,000 shares and a letter of regret was sent to other with refund. Excess application money is to be utilised
towards allotment. Rohan to whom 1,200 Shares were allotted failed to pay the allotment money and his shares
were forfeited after allotment. Aman who applied for 2,100 shares failed to pay first call and his share were
forfeited after first Call. Second and final call was made. All the money due on second call have been received.
Of the shares forfeited, 2,000 shares were reissued as fully paid-up for ₹80 per share, which included the whole
of Aman's share
a. How many applications have been received?
 A. 1,00,000 C. 90,000
B. 80,000 D. 70,000
b. What amount is received on allotment?
A. 14,00,000 C. 13,80,000
B. 13,72,000 D. 13,90,000
c. What is the amount of calls in the arear from Rohan and Aman?
A. 24,000 C. 78,000
B. 54,000 D. 36,000
d. How much of the share forfeited is left after reissue?
A. 77,333 C. 48,000
B. 36,667 D. 66,000
e. What amount is to be transferred to Capital Reserve?
A. 48,333 C. 50,000
B. 49,333 D. 59,333
f. Find out the pro-rata ratio adopted by the company.
A. 3:2 C. 5:6
B. 4:3 D. 4:5

OR

Eros Ltd. issued a prospectus inviting applications for 2,000 shares of ₹ 10 each at a premium of ₹ 4 per share,
payable as follows:
On application ₹ 6 (including ₹ 1 premium);
On allotment ₹ 2 (including ₹ 1 premium);
On first call ₹ 3 (including ₹ 1 premium);
On second and final call ₹ 3 (including ₹ 1 premium).

Applications were received for 3,000 shares and pro rata allotment was made on the applications for 2,400
shares. It was decided to utilise the excess application money towards the amount due on allotment.
Ajay, to whom 40 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the
first call, his shares were forfeited.
Raghav, who applied for 72 shares, failed to pay the two calls and on his such failure, his shares were forfeited.
Of the shares forfeited, 80 shares were sold to Pooja credited as fully paid for ₹ 9 per share, the whole of
Raghav’s shares being included.

Balance Sheet as on…........

Particulars Notes ₹
I. Equity and Liabilities
Shareholder`s Fund … …
a Share Capital … …
b Reserve and Surplus
Total
II. Assets
Current Assets
a Cash And Cash Equivalents … …
Total

Notes to accounts
1 Share Capital
Authorised Capital …..........

Issued Capital
…........ ….......
 Subscribed Capital
…..........
…............ 19800
…......... 120

2 Reserve And Surplus

…...... ….....
…....... …......

3 Cash and Cash Equivalent

Cash At Bank …....
Fill the blanks and prepare cash book. (6)

24. Meghna, Mehak and Mandeep were partners in a firm whose Balance Sheet as on 31st March, 2023 was as under:
Balance Sheet as on…..
Liabilities ₹ Assets ₹
Creditors 28,000 Cash 27,000
General Reserve 7,500 Debtors 20,000
Capitals: Stock 28,000
Meghna 20,000 Furniture 5,000
Mehak 14,500
Mandeep 10,000 44,500
80,000 80,000
Mehak retired on this date under the following terms:
a. To reduce stock and furniture by 5% and 10% respectively.
b. To provide for doubtful debts at 10% on debtors.
c. Goodwill was valued at `12,000.
d. Creditors of Rs.8,000 were settled at Rs.7,100.
e. Mehak should be paid off and the entire sum payable to Mehak shall be brought in by Meghna and Mandeep in
such a way that their capitals should be in their new profit-sharing ratio.
Prepare the Revaluation Account and partners’ capital accounts of the new firm. (6)
OR

A and B are partners in a firm sharing profits and losses in the ratio of 3:1. They admit C for a ¼ share (entirely
taken from A) on31st March 2019 when their Balance Sheet was as follows:

Liabilities Amount Assets Amount

Employee Provident fund 17,000 Goodwill 40,000
Investment Fluctuation Fund 4,100 Stock 15,000
Workmen compensation 6,000 Debtors 50,000
fund Less: Provision
Capitals: for Bad Debts 2,000 48,000
A 54,000 89,000 Cash 6,100
B 35,000 Investments 7,000
1,16,100 1,16,100
The following adjustments were agreed upon:
a. C is Unable to bring his share of goodwill but brings ₹ 30,000 as capital.
b. Bad debts amounted to ₹ 3,000 and maintain a new provision on bad debts @ 5% and provision on discount
@ 2%.
c. Market value of investment is ₹ 4,500.
d. Liability on account of workmen Compensation Reserve amounted to ₹2,000.
 Pass Journal Entries. (6)

25. Aman and Harsh were partners in a firm. They decided to dissolve their firm. Pass necessary Journal entries for
the following after various assets (other than Cash and Bank) and third-party liabilities have been transferred to
the Realisation Account: (6)
a. There was furniture worth ₹ 50,000. Aman took over 50% of the furniture at a 10% discount and the
remaining furniture was sold at 30% profit on book value.
b. The firm paid realization expenses amounting to ₹ 5,000 on behalf of Harsh who had to bear these expenses.
c. There was an outstanding bill for repair for Rs 2,000 which was paid off.
d. Creditors, to whom the firm owed ₹ 6,000, accepted stock of ₹ 5,000 at a discount of 5% and the balance in
cash.
e. Loss on Realisation ₹ 9000 was divided between Aman and Harsh the partners in the ratio of 3:2.

26. (i) Pass necessary Journal entries in the following conditions:-

a. R Ltd. issued 10,000 12% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%
b. B Ltd. issued 635, 9% debentures of ₹ 500 each at 12% premium redeemable at 6% premium.
c. M Ltd. took a loan from bank for ₹ 1,00,000 and issued 2000 8% Debentures of 100 each.
(ii) Pioneer Fitness Ltd. took over the running business of Healthy World Ltd. having assets of ₹10,00,000 and
liabilities of ₹ 1,70,000 by:
a. Issuing 8,000 8% Debentures of ₹ 100 each at 5% premium redeemable after 6 years @ ₹ 110; and
b. Cheque for ₹ 50,000.
Pass the Journal entries in the books of Pioneer Fitness Ltd. (3+3)

Part B :- Analysis of Financial Statements

27. Which one of the following is correct? (1)

(i) Quick Ratio can be more than Current Ratio.
(ii) High Inventory Turnover ratio is good for the organisation, except when goods are bought in small lots or sold
quickly at low margins to realise cash.
(iii) Sum of Operating Ratio and Operating Profit ratio is always 100%.
A. All are correct. C. Only (ii) and (iii) are correct.
B. Only (i) and (iii) are correct. D. Only (i) and (ii) are correct

OR
When an analyst analysis the financial statements of an enterprise over a number of years, the analysis is called
analysis.

A. Static C. Horizontal
B. External D. Vertical

28. From the following calculate Interest coverage ratio: Net profit after tax ₹ 12,00,000; 10% debentures ₹
1,00,00,000; Tax Rate 40%. (1)
A. 1.2 times C. 2 times
B. 3 times D. 5 times

29. The Insurance Claim received by Albert Co. Ltd. of ₹ 5,00,000 for Loss of Machinery due to theft will be
recorded in Cash Flow Statement in which of the following manner? (1)
A. Added under Operating Activities as Activities also.
Extraordinary Item and Subtracted from C. Added under Operating Activities as
Operating Activities also. Extraordinary Item and Outflow under
B. Subtracted under Operating Activities as Investing Activity also.
Extraordinary Item and Added to Operating D. Subtracted under Operating Activities as
 Extraordinary Item and Inflow under Investing Activities also.

OR
While computing cash from operating activities, which of the following item(s) will be added to the net profit?
(i) Decrease in value of inventory
(ii) Increase in share capital
(iii) Increase in the value of trade receivables
(iv)Increase in the amount of outstanding expenses (1)
A. Only (i) C. Only (i) and (iii)
B. Only (i) and (ii) D. Only (i) and (iv)

30. A company issued 20,000; 9% Debentures of ₹ 100 each at 10% Discount. These debentures were to
be redeemed at 15% Premium at the end of 5 years. The balance in Securities Premium Account as on
the date of Issue was ₹ 3,70,000. How this transaction will be reflected in Cash Flow Statement?
(1)
A. Added ₹ 1,30,000 under Operating Activities C. Added ₹ 1,30,000 under Operating Activities
as Loss on Issue of Debentures written as Loss on Issue of Debentures written off and
off and Inflow of ₹ 20,00,000 under Financing Inflow of ₹ 18,00,000 under Financing
Activities. Activities.
B. Added ₹ 5,00,000 under Operating Activities D. Added ₹ 5,00,000 under Operating Activities
as Loss on Issue of Debentures written as Loss on Issue of Debentures written off and
off and Inflow of ₹ 18,00,000 under Financing Inflow of ₹ 20,00,000 under Financing
Activities. Activities.

31. Classify the following items under Major heads and Sub-head (if any) in the Balance Sheet of a
Company as per Schedule III of the Companies Act 2013. (3)
a. Current maturities of long-term debts e. Capital Advances
b. Furniture and Fixtures f. Advances recoverable in cash within the
c. Provision for Warranties operation cycle
d. Income received in advance

32. Following is the statement of profit and loss of Moon Ltd. For the year ended 31st March, 2023 and 2024.

Particulars 2023-24(₹) 2022-23(₹)

Revenue from operations 50,00,000 40,00,000
Others income 2,00,000 10,00,000
Employees benefit Expenses 60% of total revenue 50% of total revenue
Other expenses 10% of Employees benefit Expenses 20% of Employees benefit Expenses
Rate of Tax 50% 40%
You are required to prepare a Comparative Statement of profit and loss . (3)

33. a) A company had a liquid ratio of 1.5 and current ratio of 2 and an inventory turnover ratio of 6 times. It had
total current assets of ₹8,00,000. Find out annual sales if goods are sold at 25% profit on cost.
b) Calculate debt to capital employed ratio from the following information. (4)
Shareholder funds ₹ 15,00,000
8% Debenture ₹ 7,50,000
Current liabilities ₹ 2,50,000
Non-current Assets ₹ 17,50,000
Current Assets ₹7,50,000
OR
Calculate the Gross Profit Ratio from the following information
Revenue from Operations ₹ 10,00,000; Purchases ₹ 3,60,000; Carriage Inwards ₹ 50,000; Employee benefit
Expenses ₹ 1,00,000 (including Wages of ₹ 60,000); Opening Inventory ₹ 60,000 and Average Inventory ₹
 80,000.

34. From the following balance sheets of a company, prepare cash Flow Statement: (6)

PARTICULARS 31-03-2023 31-03-2024

I. Equity and Liabilities
Shareholder’s Funds
Equity Share Capital 1,00,000 1,00,000
Reserves and Surplus 30,000 60,000
Non-Current Liabilities
Debentures 60,000 80,000
Current Liabilities
Creditors 30,000 35,000
Bills Payable 30,000 10,000
Other Current Liabilities 40,000 45,000
TOTAL 2,90,000 3,30,000
II. Assets
Non-Current Assets: Fixed 1,50,000 1,90,000
Assets
Non-Current Investments 40,000 30,000
Current Assets:
Stock 40,000 55,000
Debtors 40,000 45,000
Cash 20,000 10,000
TOTAL 2,90,000 3,30,000
Additional Information:
a. Depreciation charged during the year amounted to Rs.22,000.
b. Dividend paid during the year amounted to Rs.12,000.