666

Series &RQPS/S Set – 1

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*RQPS/S* Q.P. Code 67/S/1
AZwH«$_m§§H$
narjmWu àíZ-nÌ H$moS> >H$mo CÎma-nwpñVH$m Ho$
Roll No. _wI-n¥ð >na Adí` {bIo§ &
Candidates must write the Q.P. Code
on the title page of the answer-book .

· H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _o§ _w{ÐV n¥ð> 39 h¢ &

· H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _| > 34 àíZ h¢ &
· àíZ-nÌ _| Xm{hZo hmW H$s Amoa {XE JE àíZ-nÌ H$moS> H$mo narjmWu CÎma-nwpñVH$m Ho$
_wI-n¥ð> na {bI| &
· H¥$n`m àíZ H$m CÎma {bIZm ewê$ H$aZo go nhbo, CÎma-nwpñVH$m _| àíZ H$m H«$_m§H$
Adí` {bI| &
· Bg àíZ-nÌ H$mo n‹T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h¡ & àíZ-nÌ H$m {dVaU
nydm©• _| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>mÌ Ho$db àíZ-nÌ
H$mo n‹T>|Jo Am¡a Bg Ad{Y Ho$ Xm¡amZ do CÎma-nwpñVH$m na H$moB© CÎma Zht {bI|Jo &
· Please check that this question paper contains 39 printed pages.
· Please check that this question paper contains 34 questions.
· Q.P. Code given on the right hand side of the question paper should be
written on the title page of the answer-book by the candidate.
· Please write down the serial number of the question in the answer-book
before attempting it.
· 15 minute time has been allotted to read this question paper. The question
paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m.,
the students will read the question paper only and will not write any
answer on the answer-book during this period.

boImemñÌ
ACCOUNTANCY

{ZYm©[aV g_` : 3 KÊQ>o A{YH$V_ A§H$ : 80

Time allowed : 3 hours Maximum Marks : 80

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General Instructions :
Read the following instructions carefully and follow them :
(i) This question paper contains 34 questions. All questions are compulsory.
(ii) This question paper is divided into two parts — Part A and Part B.
(iii) Part A is compulsory for all candidates.
(iv) Part B has two options. Candidates have to attempt only one of the given options.
Option I : Analysis of Financial Statements
Option II : Computerised Accounting
(v) Questions number 1 to 16 (Part A) and Questions number 27 to 30 (Part B) are multiple
choice questions. Each question carries 1 mark.
(vi) Questions number 17 to 20 (Part A) and Questions number 31 and 32 (Part B) are short
answer type questions. Each question carries 3 marks.
(vii) Questions number 21, 22 (Part A) and Question number 33 (Part B) are Long answer
type-I questions. Each question carries 4 marks.
(viii) Questions number 23 to 26 (Part A) and Question number 34 (Part B) are Long answer
type-II questions. Each question carries 6 marks.
(ix) There is no overall choice. However, an internal choice has been provided in few
questions in each of the parts.
PART A
(Accounting for Partnership Firms and Companies)
1. (a) Renu, Trilok and Mansi were partners in a firm sharing profits and losses
1 th share in the
in the ratio of 9 : 6 : 5. Hina was admitted as a partner for 10
profits which she acquired equally from Renu and Trilok. The new profit
sharing ratio after Hina’s admission will be : 1
(A) 5 : 5 : 2 : 8 (B) 5 : 5 : 8 : 2
(C) 8 : 2 : 5 : 5 (D) 8 : 5 : 5 : 2
OR
(b) Ashu and Ria were partners in a firm sharing profits and losses in the ratio
of 4 : 3. They admitted Nitu for a 3 th share in the profits of the firm,
2 17
which she took 7 from Ashu and 7 th from Ria. The new profit sharing
th
ratio between Ashu, Ria and Nitu will be : 1
(A) 4 : 3 : 3 (B) 2 : 1 : 3
(C) 2 : 2 : 3 (D) 4 : 3 : 2
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2. Nikhil and Sharat were partners in a firm sharing profits and losses in the ratio of
4 : 3. Nikhil withdrew ₹ 6,000 on the first day of every quarter for the year ended
31st March, 2023. Interest on drawings is to be charged @ 5% p.a. Interest on
Nikhil’s drawings will be calculated for : 1
(A) 6 months (B) 4.5 months
(C) 7.5 months (D) 3 months
3. Pawan, Kavita and Gaurav were partners in a firm. The firm was dissolved.
Creditors took over furniture of book value of ₹ 60,000 at 10% less than the book
value in part settlement of their amount of ₹ 60,000. The balance amount was
paid to them through cheque. The amount paid through cheque will be : 1
(A) ₹ 5,000 (B) ₹ 6,000
(C) ₹ 54,000 (D) Nil
4. Kamini, Lata and Meera were partners in a firm sharing profits and losses equally.
Neel was admitted as a new partner for an equal share in the profits of the firm.
Neel brought his share of capital and premium for goodwill in cash. On the date of
admission of Neel, goodwill appeared in the books at ₹ 1,20,000. The existing
goodwill is to be written off among : 1
(A) Old partners in old ratio.
(B) New partners in new ratio.
(C) Sacrificing partners in sacrificing ratio.
(D) Old partners in sacrificing ratio.

5. Arjun, Babita and Charlie were partners in a firm sharing profits in the ratio of
2 : 2 : 1. They admitted Dheeraj for 1 th share in the profits of the firm. He has to
5
contribute proportionate capital to acquire 1 th share in future profits. On the date
5
of admission, the capitals after all adjustments relating to goodwill and
revaluation of assets and liabilities, were : Arjun ₹ 62,000, Babita ₹ 52,000 and
Charlie ₹ 36,000. The capital brought by Dheeraj will be : 1
(A) ₹ 37,500 (B) ₹ 30,000
(C) ₹ 32,500 (D) ₹ 35,000
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6. There are two statements Assertion (A) and Reason (R) : 1
Assertion (A) : The maximum number of partners in a partnership firm are 50.
Reason (R) : The maximum number of partners are prescribed by the
Partnership Act, 1932.
Choose the correct option from the following :
(A) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the
correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct and Reason (R) is the
correct explanation of Assertion (A).
(C) Assertion (A) is correct, but Reason (R) is incorrect.
(D) Assertion (A) is incorrect, but Reason (R) is correct.

Read the following hypothetical situation and answer questions No. 7 and 8 on the basis
of the given information :
Daksh and Ekansh are partners in a firm sharing profits and losses in the ratio of
3 : 1. Their capitals were ₹ 1,60,000 and ₹ 1,00,000 respectively. As per
partnership deed, they were entitled to interest on capital @ 10% p.a.. The firm
earned a profit of ₹ 13,000 for the year ended 31st March, 2023.
7. Daksh’s interest on capital will be : 1
(A) ₹ 5,000 (B) ₹ 8,000
(C) ₹ 16,000 (D) ₹ 10,000
8. Ekansh’s share of profit/loss will be : 1
(A) Nil (B) ₹ 9,750 (Loss)
(C) ₹ 3,250 (Loss) (D) ₹ 9,750 (Profit)
9. Beeta Ltd. offered for subscription 1,00,000 equity shares of ₹ 10 each at a
premium of 100% payable entirely on application. Applications were received for
5,00,000 equity shares. The company decided to allot the shares on pro-rata basis
to all the applicants. The amount received by the company on application was : 1
(A) ₹ 1,00,00,000 (B) ₹ 20,00,000
(C) ₹ 1,20,00,000 (D) ₹ 80,00,000
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10. The amount of share capital which a company is authorised to issue by its
Memorandum of Association is called : 1
(A) Issued capital (B) Subscribed capital
(C) Reserve capital (D) Nominal capital

11. Sinoy Ltd. issued 20,000 shares of ₹ 10 each at a premium of ₹ 6. The amount was
payable as follows :
On Application – ₹ 7 per share (Including Premium ₹ 1 per share)
On Allotment – ₹ 5 per share (Including Premium ₹ 2 per share)
On First and Final call – Balance
The issue was fully subscribed. All the money was duly received except the
allotment and first and final call on 1,000 shares. These shares were forfeited. On
forfeiture of these shares, the ‘Securities Premium Account’ will be debited by : 1
(A) ₹ 2,000 (B) ₹ 3,000
(C) ₹ 5,000 (D) ₹ 20,000

12. There are two statements Assertion (A) and Reason (R) : 1
Assertion (A) : Court does not intervene in case of dissolution of partnership.
Reason (R) : Dissolution of partnership takes place by mutual agreement
among partners.
Choose the correct option from the following :
(A) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the
correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct and Reason (R) is the
correct explanation of Assertion (A).
(C) Assertion (A) is correct, but Reason (R) is incorrect.
(D) Assertion (A) is incorrect, but Reason (R) is correct.
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13. (a) Money not received from shareholders on allotment or calls is : 1
(A) debited to calls in advance account.
(B) credited to calls in advance account.
(C) debited to calls in arrears account.
(D) credited to calls in arrears account.
OR
(b) Those debentures where a charge is created on the assets of the company
for the purpose of payment in case of default are known as : 1
(A) Secured Debentures
(B) Registered Debentures
(C) Specific Coupon Rate Debentures
(D) Redeemable Debentures
14. (a) Nagar Ltd. issued 6,000, 11% Debentures of ₹ 100 each at a discount of
10% redeemable at a premium. ‘Discount on issue of debentures’ and
‘Premium on redemption of debentures’ were accounted for through ‘Loss
on issue of debentures account’. If the amount of ‘Loss on issue of
debentures’ was ₹ 90,000, then the amount of premium on redemption of
debentures was : 1
(A) ₹ 60,000 (B) ₹ 90,000
(C) ₹ 1,20,000 (D) ₹ 30,000
OR
(b) On 1 st April, 2022 Surya Ltd. issued 10,000, 12% Debentures of ₹ 100
each at a premium of 5%. The total amount of interest on debentures for
the year ended 31st March, 2023 will be : 1
(A) ₹ 1,20,000 (B) ₹ 50,000
(C) ₹ 1,00,000 (D) ₹ 1,26,000
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15. (a) Deepa, Elton and Frank were partners in a firm sharing profits in the ratio
of 2 : 2 : 1. With effect from 1 st April, 2023 they decided to change their
profit sharing ratio as 1 : 2 : 2. There existed a Debit Balance of Profit and
Loss Account of ₹ 50,000 in the books of the firm on the date of change in
profit sharing ratio. The partners decided to retain the Debit Balance of
Profit and Loss Account in the books. The adjustment entry will be : 1
Journal
Particulars Dr. Amount Cr. Amount
(₹) (₹)
(A) Deepa’s Capital A/c Dr. 10,000
To Frank’s Capital A/c 10,000
(B) Deepa’s Capital A/c Dr. 5,000
To Frank’s Capital A/c 5,000
(C) Frank’s Capital A/c Dr. 10,000
To Deepa’s Capital A/c 10,000
(D) Frank’s Capital A/c Dr. 5,000
To Deepa’s Capital A/c 5,000
OR
(b) Som, Pam and Ron were partners in a firm sharing profits in the ratio of
7 : 2 : 1. With effect from 1st April, 2023 they decided to change their profit
sharing ratio to 1 : 2 : 7. There existed a Credit Balance in the Profit and
Loss Account of ₹ 1,00,000 on the date of change in profit sharing ratio in
the books of the firm. The partners decided to retain the Credit Balance in
Profit and Loss Account in the books. The adjustment entry will be : 1
Journal
Particulars Dr. Amount Cr. Amount
(₹) (₹)
(A) Ron’s Capital A/c Dr. 20,000
To Som’s Capital A/c 20,000
(B) Ron’s Capital A/c Dr. 60,000
To Som’s Capital A/c 60,000
(C) Som’s Capital A/c Dr. 20,000
To Ron’s Capital A/c 20,000
(D) Som’s Capital A/c Dr. 60,000
To Ron’s Capital A/c 60,000
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16. (a) Anu, Bina and Roy were partners in a firm sharing profits and losses in the
ratio of 3 : 2 : 1. Roy retired and his share was acquired by Anu. The new
profit sharing ratio between Anu and Bina after Roy’s retirement will be : 1
(A) 3 : 2 (B) 3 : 1
(C) 1 : 1 (D) 2 : 1
OR
(b) Asha, Yug and Zubin were partners in a firm sharing profits and losses in
the ratio of 4 : 3 : 2. Zubin retired. Zubin’s share was acquired equally by
Asha and Yug. The new profit sharing ratio between Asha and Yug after
Zubin’s retirement was : 1
(A) 3 : 2 (B) 5 : 4
(C) 4 : 3 (D) 2 : 1
17. Gita, Hina and Isha were partners in a firm sharing profits and losses in the ratio
of 3 : 3 : 2. Gita died. Hina and Isha decided to share profits and losses in the
future, equally. On the day of Gita’s death, goodwill of the firm was valued at
₹ 8,00,000. Calculate gaining ratio and pass necessary journal entry to record
treatment of goodwill on Gita’s death. 3
18. Asha and Babita were partners in a firm. Their capitals were ₹ 1 ,00,000 and
₹ 10,00,000 respectively. The normal rate of return was 1 %.
The profits of the last four years were :
₹
2019 – 20 2,50,000
2020 – 21 (50,000)
2021 – 22 8,00,000
2022 – 23 5,00,000
The closing stock for the year 2022 – 23 was undervalued by ₹ 1,00,000. Goodwill
is to be valued at two years purchase of the last four years’ average super profits.
Calculate the value of goodwill. 3
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19. (a) Sheetal Ltd. purchased building worth ₹ 2, 0,000, plant and machinery
worth ₹ 2,00,000, furniture worth ₹ 40,000 and took over liabilities of
₹ 30,000 from Poonam Ltd. for a purchase consideration of ₹ 4,40,000. The
purchase consideration was paid by issuing 12% Debentures of ₹ 100 each
at a premium of 10%.
Pass the necessary journal entries in books of Sheetal Ltd. to record the
above transactions. 3
OR
(b) On 1st April, 2023, Simple Ltd. took over assets of ₹ ,00,000 and
liabilities of ₹ 1,00,000 from Temur Ltd. at an agreed value of ₹ 16,00,000.
Simple Ltd. paid the amount to Temur Ltd. as follows :
(i) Issued a bank draft of ₹ 1,00,000.
(ii) Issued 8% Debentures of ₹ 100 each at a premium of 50% in
satisfaction of the balance amount of purchase consideration.
Pass the necessary journal entries in the books of Simple Ltd. to record the
above transactions. 3
20. (a) Jatin, Keshav and Lalit were partners in a firm with fixed capitals of
₹ 1,20,000, ₹ 1,00,000 and ₹ 80,000 respectively. As per the partnership
deed, there was a provision for allowing interest on capitals @ 10% p.a.,
but entries for the same had not been made for the last two years.
The profit sharing ratio during the last two years was as follows :
Year Jatin Keshav Lalit
2021 – 22 5 3 2
2022 – 23 1 1 1
Pass an adjustment entry of the beginning of the third year, i.e., on
1st April, 2023. 3
OR
(b) Meera, Neena and Ojas were partners in a firm sharing profits and losses in
the ratio of 5 : 3 : 2. The partnership deed provided for charging interest on
drawings @ 10% p.a. The drawings of Meera, Neena and Ojas during the
year ended 31st March, 2023 amounted to ₹ 60,000, ₹ 0,000 and ₹ 40,000
respectively. After the final accounts had been prepared, it was discovered
that interest on drawings had not been taking into consideration.
Pass the necessary adjustment entry. 3
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21. Shringar Ltd. was registered with an authorised capital of ₹ 5,00,000 divided into
equity shares of ₹ 10 each. The company issued a prospectus inviting applications
for 20,000 equity shares. The amount was payable as follows :
On Application – ₹ 3 per share
On Allotment – ₹ 5 per share
On First and Final call – Balance
Applications were received for 19,000 equity shares and allotment was made to all
the applicants. All the amounts were duly received except the first and final call
on 5,000 shares.
Present the share capital in the Company’s Balance Sheet as per Schedule III,
Part I of Companies Act, 2013. Also prepare ‘Notes to Accounts’ for the same. 4

22. Sonia and Rohit were partners in a firm sharing profits and losses in the ratio of
3 : 2. On 31st March, 2023 their Balance Sheet was as follows :
Balance Sheet of Sonia and Rohit as at 31st March, 2023
Amount Amount
Liabilities Assets
(₹) (₹)
Capitals : Building 2,00,000
Sonia 70,000 Machinery 1,40,000
Rohit 90,000 1,60,000 Furniture 80,000
General Reserve 80,000 Debtors 1,20,000
Sonia’s Loan 1,30,000 Stock 60,000
Bank Loan 2,20,000 Cash at Bank 60,000
Creditors 70,000
6,60,000 6,60,000
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The firm was dissolved on the above date on the following terms :
(i) Building, machinery and furniture realised ₹ 3,44,000.
(ii) Debtors realised 90% only.
(iii) Creditors took away half of the stock in full settlement of their account.
(iv) Remaining stock realised ₹ 72,000.
(v) Realisation expenses amounting to ₹ 14,000 were paid by Rohit.
Prepare Realisation Account. 4
23. Pankaj, Rajat and Samay were partners in a firm sharing profits and losses in the
ratio of 7 : 2 : 1. Their Balance Sheet as at 31st March, 2023 was as follows :
Balance Sheet of Pankaj, Rajat and Samay as at 31st March, 2023
Amount Amount
Liabilities Assets
(₹) (₹)
Capitals : Machinery 2,10,000
Pankaj 3,00,000 Furniture 1,00,000
Rajat 2,00,000 Stock 1,50,000
Samay 1,00,000 6,00,000 Debtors 1,60,000
General Reserve 1,00,000 Bank 2,50,000
Creditors 1,70,000
8,70,000 8,70,000
Rajat died on 30th June, 2023. It was agreed between his executors and remaining
partners that :
(i) Goodwill be valued at two years purchase of average profits of the
previous four years which were ₹ 5,00,000.
(ii) Share of profit up to the date of death will be on the calculated on the basis
of average profits of the past four years. Rajat’s share of profit amounted
to ₹ 25,000.
(iii) Interest on capital is to be provided @ 10% p.a.
(iv) Half the amount due to Rajat is to be paid immediately.
Prepare Rajat’s Capital Account and Rajat’s Executor’s Account as on
30th June, 2023. 6
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24. On 1st April, 2022, Ardhaan Ltd. issued 10,000, 9% Debentures of ₹ 100 each at
a discount of 5%, redeemable at a premium of 10% after five years. The company
had a balance of ₹ 80,000 in Securities Premium Account.
(a) Pass necessary journal entries for issue of debentures and for writing off
‘Loss on Issue of Debentures’ utilising Securities Premium Account at the
end of first year itself.
(b) Prepare ‘Loss on Issue of Debentures Account’ for the year ended
31st March, 2023. 6

25. (a) Diamond Ltd. issued a prospectus inviting applications for 20,000 shares
of ₹ 10 each. The amount was payable as follows :
On Application – ₹ 4 per share
On Allotment – ₹ 4 per share
On First and Final call – Balance
Applications for 45,000 shares were received and allotment was made as
follows :
Category (i) – Applicants for 35,000 shares were allotted 15,000 shares.
Category (ii) – Applicants for 10,000 shares were allotted 5,000 shares.
It was decided that excess money received on application be adjusted
towards sum due on allotment and calls.
Amar, an applicant of Category (ii), who was allotted 500 shares, failed to
pay the first and final call. His shares were forfeited and subsequently
reissued at ₹ 2 per share as fully paid up.
Pass necessary journal entries to record the above transactions in the books
of Diamond Ltd. 6
OR

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(b) Pearl Ltd. issued a prospectus inviting applications for 40,000 shares of
₹ 10 each at a premium of 20%. The amount was payable as follows :
On Application – ₹ 5 per share
On Allotment – ₹ 5 per share (Including Premium)
On First and Final call – Balance
Applications for 60,000 shares were received and allotment was made on a
pro-rata basis to all the applicants. Excess money received on application
was adjusted towards the amount due on allotment.
Sameer who had applied for 1,200 shares failed to pay the allotment
money. His shares were forfeited immediately after allotment. All the
forfeited shares were reissued at ₹ 7 per share as ₹ 8 paid up. First and final
call was not yet made.
Pass necessary journal entries to record the above transactions in the book
of Pearl Ltd. Open ‘Calls in Arrears Account’ wherever necessary. 6

26. (a) Anshu and Vihu were partners in a firm sharing profits and losses in the
ratio of 3 : 2. Their Balance Sheet as at 31st March, 2023 was as follows :
Balance Sheet of Anshu and Vihu as at 31st March, 2023
Amount Amount
Liabilities Assets
(₹) (₹)
Creditors 80,000 Cash 40,000
General Reserve 50,000 Debtors 36,000
Investment Fluctuation Less Provision for
10,000
Fund Doubtful debts 2,000 34,000
Capitals : Stock 30,000
Anshu 1,44,000 Investments 40,000
Vihu 80,000 2,24,000 Plant and Machinery 2,20,000
3,64,000 3,64,000

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On 1st April, 2023, Mani was admitted into partnership for 1 th share in
5
the profits of the firm on the following terms :
(i) Mani brought ₹ 20,000 as her share of goodwill and proportionate
capital.
(ii) Provision for doubtful debts was to be maintained at 10% on
debtors.
(iii) Market value of investments was ₹ 35,000.
(iv) The value of Plant and Machinery be increased by ₹ 6,600.
Prepare Revaluation Account and Partners’ Capital Accounts. 6
OR
(b) Trisha, Urvi and Varsha were partners in a firm sharing profits and losses
in the ratio of 5 : 4 : 1. Their Balance Sheet as at 31 st March, 2023 was as
follows :
Balance Sheet of Trisha, Urvi and Varsha as at 31 st March, 2023
Liabilities Amount Assets Amount
(₹) (₹)
Capitals : Fixed Assets 4,00,000
Trisha 2,00,000 Stock 1,00,000
Urvi 1,30,000 Debtors 1,50,000
Varsha 1,00,000 4,30,000 Cash 2,00,000
General Reserve 1,50,000
Creditors 2,70,000
8,50,000 8,50,000
Trisha retired on 1st April, 2023 and the partners agreed to the following
terms :
(i) Fixed Assets were found overvalued by ₹ 80,000.
(ii) Stock was taken over by Trisha at ₹ 80,000.
(iii) Goodwill of the firm was valued at ₹ 1,00,000 on Trisha’s
retirement and Trisha’s share by goodwill was adjusted through the
Capital Accounts of remaining partners.
(iv) New profit sharing ratio between the remaining partners was agreed
at 2 : 3.
(v) Trisha was paid ₹ 50,000 on retirement and the balance was
transferred to her loan account.
Pass necessary journal entries in the books of the firm on Trisha’s
retirement. 6
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PART B
Option – I
(Analysis of Financial Statements)
27. The Quick Ratio of a company is 1 : 1. Which of the following transactions will
result in increase of this ratio ? 1
(A) Purchase of inventory ₹ 1,50,000 through cheque
(B) Sold inventory on credit ₹ 50,000
(C) Outstanding expenses of ₹ 40,000 paid
(D) Machinery purchased for cash ₹ 50,000
28. Which of the following transactions will result in cash outflow from operating
activities ? 1
(A) Payment to creditors
(B) Proceeds from sale of investments
(C) Dividend received by a non-finance company
(D) Depreciation charged on furniture
29. (a) Which of the following is not a limitation of ‘Analysis of Financial
Statements’ ? 1
(A) It is just a study of the reports of the company.
(B) It does not consider price level changes.
(C) It ascertains the relative importance of different components of the
financial position of the firm.
(D) It may be misleading without the knowledge of the changes in
accounting procedures followed by a firm.
OR
(b) Ratios that are calculated for measuring the efficiency of operations of
business based on effective utilisation of resources are known as : 1
(A) Liquidity ratios
(B) Turnover ratios
(C) Solvency ratios
(D) Profitability ratios
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30. (a) Sale of patents of ₹ 50,00,000 will result in : 1
(A) Cash inflow of ₹ 50,00,000 from financing activities
(B) Cash outflow of ₹ 50,00,000 from financing activities
(C) Cash outflow of ₹ 50,00,000 from investing activities
(D) Cash inflow of ₹ 50,00,000 from investing activities
OR
(b) Income tax paid is classified under : 1
(A) Operating activities
(B) Investing activities
(C) Financing activities
(D) Cash and cash equivalents

31. Classify the following items under major heads and sub-heads (if any) in the
Balance Sheet of the company as per Schedule III, Part I of the Companies
Act, 2013 : 3
(a) Copyrights
(b) Interest Accrued on investments
(c) Long-term investment in shares

32. X Ltd. has a Current ratio of 3·5 : 1 and Quick ratio of 2 : 1. If excess of Current
Assets over Quick Assets is represented by inventories of ₹ 16,000 and prepaid
expenses of ₹ 8,000, calculate : 3
(a) Current Liabilities
(b) Current Assets
(c) Quick Assets
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33. (a) From the given Balance Sheet of Moonlight Ltd., prepare a Common Size
Balance Sheet : 4

Balance Sheet of Moonlight Ltd. as at 31st March, 2023

31.03.2023 31.03.2022
Particulars
(₹) (₹)
I – Equity and Liabilities :
1. Shareholders’ Funds
(a) Share Capital 12,00,000 5,00,000
2. Non-Current Liabilities
(a) Long-term Borrowings 2,00,000 3,00,000
3. Current Liabilities
(a) Trade Payables 6,00,000 2,00,000
Total 20,00,000 10,00,000
II – Assets :
1. Non-Current Assets
(a) Fixed Assets/Property,
Plant and Equipment
and Intangible Assets 14,00,000 7,00,000
2. Current Assets
(a) Trade Receivables 4,00,000 2,50,000
(b) Inventories 2,00,000 50,000
Total 20,00,000 10,00,000
OR

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(b) From the following particulars of Accent Ltd., prepare a Comparative
Statement of Profit and Loss for the year ended 31st March, 2023 : 4
Note 2022 – 23 2021 – 22
Particulars No. (₹) (₹)
Revenue from operations 25,00,000 20,00,000
Employee benefit expenses 5,00,000 4,00,000
Other expenses 2,50,000 2,00,000
Tax rate 50%

34. From the following particulars of Ruparel Ltd., calculate ‘Cash Flow from
Investing Activities’. Show your working clearly. 6

Particulars 31.03.2023 31.03.2022

(₹) (₹)
Goodwill 3,00,000 1,00,000
Patents 1,60,000 2,80,000
Machinery 12,40,000 10,20,000
10% Investments 1,60,000 60,000

Additional Information :
(i) Patents of ₹ 1,20,000 were sold at book value.
(ii) Depreciation charged during the year on machinery was ₹ 1,40,000.
A machine having a book value of ₹ 80,000 was sold for ₹ 50,000.
(iii) On 31.03.2023, 10% investments were purchased for ₹ 1,80,000
and some investments were sold at a profit of ₹ 20,000.
Interest received on investments was ₹ 6,000.

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