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North Point School

First Preliminary Examination 2023 – 2024
Subject : ACCOUNTS

Class: XII Time : 3 hrs.

Date: 28.11.2023 Marks : 80
________________________________________________

(Candidates are allowed additional 15 minutes for only reading

the paper. They must NOT start writing during this time)

• The Question Paper contains three sections.

• Section A is compulsory for all candidates.
• Candidates have to attempt all questions from either Section
B or Section C.
• There are internal choices given in each section.
• The intended marks for questions or part of question are
given in brackets [ ]
• All calculations shall be shown clearly.
• All working, including rough work, should be done on the
same page as, and adjacent to the rest of the answer.

• This question paper consists of 17 printed pages.

____________________________________________________________
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SECTION A [60 Marks]

[Attempt all the questions]
Q.1] In subparts (i) to (iv) choose the correct options and in subparts (v) to (x)
answer the questions as instructed.
i) Navya and Krisha are partners sharing profits in the ratio of 2:1. They admit [01]
Bhumika for 1/5th Share in future profits. On the date of admission, Navya’s
capital was Rs.1,02,000/- and Krishna’s capital was Rs.73,000/- Bhumika
brings Rs.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
Bhumika.
a) Rs.43,750
b) Rs.37,500
c) Rs. 50,000
d) Rs.40,000

ii) At the time of Dissolution of a firm Creditors are Rs.70,000/- firm’s capital is [01]
Rs.1,20,000/-; Cash balance is Rs.10,000/- . Other assets realized
Rs.1,50,000/-. Gain/loss (profit/loss) in the realization account will be :
a) Rs.30,000 (gain)
b) Rs.40,000 (gain)
c) Rs.40,000 (loss)
d) Rs.30,000 (loss)

iii) On 1.4.2021, Sunrise ltd issued 4000, 8% Debentures of Rs.100 each to be [01]
redeemed in four equal annual installments beginning from 31st March
2023. The interest on these debentures was payable half yearly, on 30th
September and 31st March every year.
What is the Journal entry to close the Interest on Debentures A/c as on
31.3.2024?
a) Debit Statement of Profit & loss A/c Rs.32,000; Credit Interest on Debentures
A/c 32,000/-.
b) Debit Statement of Profit & loss A/c Rs.16,000/- ; Credit Interest on
Debenture A/c Rs.16,000/-
c) Debit Statement of Profit & loss A/c Rs.24000/-; Credit Interest on
Debentures A/c Rs.24,000/-
d) Debit Statement of Profit & loss A/c Rs.8000/- ; Credit Interest on Debentures
A/c Rs.8000/-
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iv) Dev Ltd. purchased Machinery and issued fully paid equity shares for [01]
Consideration other than cash. These shares will be shown in Notes to
Accounts to share capital as:
a) Issued capital
b) Subscribed but not fully paid
c) Subscribed & Fully paid
d) Forfeited shares.

v) Pratham , Varun, Aryan and Dhruv were partners in a firm sharing profits [01]
and losses in the ratio of 1:2:3:4. On 31.3.2023, Aryan retired from the firm
and his share was acquired by Pratham and Varun in the ratio of 3:2.
Calculate the New Profit Sharing ratio of Pratham , Varun and Dhruv.

vi) Assertion (A) [01]

Asian Cables Ltd. issued for subscription 2,00,000 equity shares of Rs.10
each → payable Rs.3 on application. It received Rs.5,40,000 as application
money. Full allotment was made to each applicant.
Reason (R)
In this case, there is under subscription of shares. However, since minimum
subscription of 90% has been received, full allotment will be made to each
applicant.
In the context of the above two statements, which of the following is
correct?
a) Both (A) and (R) are True , but (R) is not the correct explanation of (A)
b) Both (A) and (R) are True and (R) is the correct explanation of (A)
c) Both (A) and (R) are False.
d) (A) is False, but (R) is True.

vii) At the time of dissolution of a partnership firm, the amount of Sundry Assets [01]
transferred to Realisation A/c is Rs.1,00,000/-.
These assets are as follows:

• 40% of the assets realized 120% of their book value.

• 25% of the remaining were sold at a discount of 20%.
• Remaining were taken over by Ravi (a partner) at their book value.

You are required to pass the necessary Journal Entry to record the
realization of Sundry Assets.
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viii) Jupiter Ltd. , (Unlisted Non NBFC) has to redeem 3000, 10% Debentures of [01]
Rs.100 each out of its outstanding 10000, 10% Debentures. The Redemption
due on 31st March 2023.
As per the provisions of the Companies Act 2013 what amount should the
company transfer to Debenture Redemption Reserve before the
Redemption of debentures?

ix) Give one difference between Revaluation A/c and Realisation A/c. [01]

x) Sunstar Ltd. (an unlisted construction company) redeems its 14,000, 10% [01]
Debentures of Rs.100 each in installments as follows:

Date of Redemption Debentures to be redeemed.

31st March , 2022 4000
31st March , 2023 6000
31st March , 2024 4000

How much will the Company transfer from Debentures Redemption Reserve
to General Reserve on 31st March 2024?

Q.2]A] Leena, Rohit and Manoj were three partners sharing profits in the ratio of [03]
𝟓 𝟑 𝟐
, and respectively. The Balance Sheet of their firm as at 31st March.
𝟏𝟎 𝟏𝟎 𝟏𝟎
2022 was as follows:
Balance Sheet of Leena, Rohit and Manoj
As at 31st March, 2022
Liabilities Rs. Assets Rs.
Sundry Creditors 63,000 Furniture 18,000
Employees Provident Fund 7,000 Investments (M.V. Rs. 40,000) 35,000
Investment Fluctuation Fund 10,000 Stock 22,000
Workmen Compensation Reserve 3,000 Books Debts 45,000
Less Prov. For
Capital Accounts doubtful debts (5000) 40,000
Leena 20,000 Cash at Bank 16,000
Rohit 12,745
Manoj 15,255 48,000
TOTAL 1,31,000 TOTAL 1,31,000
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Rohit retired on 1st April 2022, on the following terms:

a) Goodwill of the firm was to be valued at Rs.15,000.
b) The value of stock was found to be overvalued by 10% of the cost price. It
was to be brought into the books at its Cost price.
c) The value of furniture was found to be undervalued by 10% of the book
value. It was to be brought into the book at its Book value.
d) Bad debts of Rs. 2,000/- to be written off.
e) Provision for doubtful debts to be maintained at 5% of the book debts.
f) Liability of Rs.3000/- on account of Workmen Companies Claim to be
discharged.

Rohit to be paid Rs.4000/- on retirement and the remaining amount in two

equal annual installments together with interest @10% p.a. on the
outstanding balance. The first installment of Rohit’s loan to be paid on
31.3.2023.

You are required to prepare:

i) Rohit’s Capital A/c
ii) Rohit’s Loan A/c till it is finally closed.

OR

Q.2]B] Following is the Balance Sheet of Navin, Kavita, Vishesh who are sharing [03]
profits in 2:1:2 as at March 31, 2023:
Liabilities Rs Assets Rs.
Creditors 38,000 Goodwill 40,000
Employee’s Provident 7,000 Furniture 50,000
Fund
Freehold Property 1,50,000
General Reserve 60,000 Stock 70,000
Capital: Debtors 35,000 30,000
Less: PDD (5000)
Navin 1,20,000 Cash at Bank 65,000
Kavita 80,000
Vishesh 1,00,000 3,00,000
TOTAL 4,05,000 TOTAL 4,05,000
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Navin dies on June 30th , 2023. According to Partnership deed, the executors
are entitled to :
i. His capital as per Balance Sheet;
ii. Interest on capital @8% p.a. upto the date of death.
iii. His share of profit upto the date of death on the basis of average
profits for the past 3 years.
iv. His share of goodwill valued on the basis of two times the average
profits of the past 3 years.
v. Assets were to be revalued :
a) Stock at Rs.65,000
b) PDD no longer required as all debtors are good.
vi. Profits for the past three years were Rs.30,000; Rs.70,000 and
Rs.80,000 respectively.
vii. Kavita and Vishesh acquired Navin’s share in the ratio of 1:5.

Half the amount was immediately paid to the Legal Executor of Navin, by
taking a loan from firm’s banker on the security of freehold property, and the
balance transferred to Executor’s Loan A/C carrying interest @ 6% p.a.

Prepare Navin’s Capital A/c to ascertain the amount due to be rendered to

his Legal Executor A/c also prepare Navin’s Legal Executor’s A/c.

Q.3] Amay Ltd. has share capital of Rs.80,00,000 divided into shares of Rs.100 [03]
each and 20,000, 8% Debentures of Rs.100 each as part of Capital Employed.

The company needed additional funds of Rs.55,00,000 for which they

decided:
• To issue Debentures in such a way that they got required funds after
issuing debentures of the same class as earlier, at 10% premium.
• These debentures were to be redeemed at 20% premium after 4 years.
• These debentures were issued on 1st October 2021.

You are required to

a) Pass entries for Issue of Debentures.
b) Pass entries for Interest on Debentures on March 31, 2022 assuming
Interest is payable on 30 September and 31st March every year.
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Q.4]A] On 1st April 2018, Daniel Pvt. Ltd. (unlisted manufacturing company) issued [03]
Rs.30,00,000 , 8% Debentures of Rs.100 each. The terms of issue stated that
the debentures were to be redeemed at a premium of 5% on 31.3.2023. The
company transferred out of profits Rs.2,00,000 to Debentures Redemption
Reserve on 31st March 2022 and the balance on 31st March 2023 and invested
the required amount as per the provisions of the Companies Act 2013, in a
fixed deposit of a scheduled bank earning interest @ 7% per annum.

You are required to :

i) Pass necessary Journal entries for Redemption of Debentures
including Interest on Investment. (ignore interest on debentures)in
the books of the company ONLY for the year 31st March 2022 – 2023
OR
Q.4]B] Dow ltd. (an unlisted company) issued 25,000, 10% Debentures of Rs.100 [03]
each on 1st April 2020, redeemable @ premium of 5% in two yearly
installments by draw of lots as follows:

31st March 2023 10,000 debentures

31st March 2024 15,000 debentures

The company complied with the legal requirement with respect to Debenture
Redemption Investment and Debenture Redemption Reserve.

You are required t prepare:

i) Debentures Redemption Investment A/c only for the year 2023 –
2024
ii) Debenture holders A/c ONLY for the year 2023 – 2024.

Q.5] Ayub and Amit are partners in a firm and they admit Jaspal into partnership [03]
with effect from 1st April 2023. They agreed to value goodwill at 3 year’s
purchase by Super Profit Method for which they decided to average profit of
last 5 years.
The profits for the last 5 years were:
31st March Profits 2019, Profits Rs.1,50,000
31st March Profit 2020, Profit Rs.1,80,000
31st March Profit 2021, Profit Rs.1,00,000 (including abnormal loss due to fire
of Rs.1,30,000 and a Insurance Claim received of Rs.30,000 from the
Insurance Company. )
31st March Profit 2022, Profit Rs.2,60,000 (including abnormal gain of
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Rs.40,000)
31st March Profit 2023 , Profit Rs.2,40,000
The firm has Total Assets of Rs.20,00,000 and Outside Liabilities of
Rs.5,00,000 as on that date. Normal Rate of Return in similar business is 10%.
You are required to calculate value of goodwill of the firm.

Q.6] Prepare the Balance Sheet of XYZ ltd as at 31.3.2023. according to the [06]
Revised Schedule III of the Companies Act, 2013 from the following
particulars:
Rs Rs.
Share Capital 10,00,000 General Reserve 1,60,000
(50000 shares of Rs..20 each)

12% bank Loan 6,00,000 Balance in (20,000)

Statements of P/L
Unclaimed Dividend 20,000 Creditors 2,00,000
Investment in ABC Ltd. 4,00,000 Land & Building 12,00,000
Loose Tools 50,000 Stores & Spare parts 3,00,000
Licenses and Franchises 50,000 Cash Credit 40,000

Q.7]A] Mohit and Azeem are partners in a firm sharing profits and losses in the ratio [06]
of 6:1. They admit Sunil for 1/3 share in the profits on 1.4.2023.
On the date of sunil’s admission:
a) The Capitals of Mohit and Azeem are: 60,000 and Rs.10,000
respectively.
b) Profit and Loss Account has a credit balance of Rs. 3500
c) General Reserve shows a balance of Rs.63,000 which is not to be
disturbed.
d) Goodwill of the firm is valued at Rs.42,000/-.
e) The cash at Bank is Rs.30,000.
f) Sunil brings in Proportionate Capital and his share of Goodwill in cash.

You are required to prepare:

i. Partners’ Capital Accounts
ii. Cash at Bank Account of the reconstituted firm on the date of
Sunil’s’ admission.
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OR
Q.7]B] Asha and Rakhi were partners in a firm sharing profits and losses in the [06]
ratio 3:1 on 31.3.2023 .Their Balance sheet was as follows:
Liabilities Rs. Assets Rs.
Creditors 1,10,000 Cash at Bank 60,000
General Reserve 40,000 Debtors 40,000
Workmen’s 50,000 Stock 45,000
Compensation Reserve
Furniture 1,55,000
Capitals:
Asha 4,00,000 Land & Building 5,00,000
Rakhi 2,00,000 6,00,000
8,00,000 8,00,000

On 1st April 2023, they admitted Vihaan as a new partner for 1/5th share in
the profits of the firm on the following terms:
a) Vihaan brought Rs.1,00,000 as his capital and the capitals of Asha and
Rakhi were to be adjusted on the basis of Vihaan’s capital; any surplus of
deficiency was to be adjusted by opening current accounts.
b) Goodwill of the firm was valued at Rs.4,00,000. Vihaan brought the
necessary amount in cash for his share of goodwill premium, half of which
was withdrawn by the old partners.
c) Liability on account of Workmen’s Compensation amounted to
Rs.80,000/-.
d) Asha took over stock at 35,000.
e) Land & building was to be appreciated by 20%.
Prepare :
i. Revaluation A/c
ii. Partner’s Capital A/c’s.

Q.8] Michael, Jackson and John were partners in a firm sharing profits in the ratio [06]
3:1:1. On 31st March 2023 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 Realisation A/c.
a) Creditors to whom the firm owed Rs.16,000/- accepted stock of Rs.
15,000 at a discount of 5% and the balance in cash.
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b) Michael was allowed to retain accrued commission Rs.10,000 as his

remuneration for services rendered by him in the course of dissolution
of the firm.
c) The firm had Fixed assets of Rs.34,000. Jackson took over some of the
Fixed Assets at Rs. 28,800/- (being 10% less than Book value) John took
over the remaining Fixed Assets at 90% of the book value.
d) There was a bill for Rs. 2400/- under discount. The bill was received
from Soham who proved insolvent and first and final dividend of 25%
received from his estate.
e) Profit & loss a/c had Debit balance of Rs.15,000/-.

Q.9]A] Priya, Neha and Vani are in partnership since the last four years. Their [10]
accounts showed:
Particulars Priya (Rs.) Neha (Rs.) Vani (Rs.)
Capitals (1.4.22) Rs. Rs. Rs.
3,00,000(Cr.) 2,50,000 (Cr.) 4,50,000(Cr.)
Current A/c (1.4.22) Rs. Rs. Rs.
2,40,000(Cr.) 2,50,000(Cr.) 40,000(Cr.)
Loan to the firm - - Rs.1,50,000
(on 31.3.23)
PSR 2 1 1
Drawings (2022-23) Rs.30,000 Rs.40,000 Rs.50,000
Details regarding Uniform On the last day On the 1st day
drawings throughout / of the of the
during the accounting year accounting year
year
Interest on capital per 10% 10% 10%
annum (as per
partnership deed)
Interest on drawings per 20% 20% 20%
annum (as per
partnership deed)
Commission (as per On Net On sales @1% Amount → 50%
partnership deed) purchase of total
@2% commission
earned by Priya
&Neha
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Additional Information :

➢ Priya is entitled to a rent of Rs.1000 per month for the use of her
premises by the firm. (as per partnership deed)
➢ The Credit balance of the Profit & Loss A/c for the accounting year April
2022 – 2023, (before any interest and rent on Priya’s premises) is
Rs.2,50,000
➢ The sales are 3 times the Correct Net Profit of the year and the Net
Purchases are Rs.5,00,000
➢ By mutual agreement, Rs. 1,50,000 each, from the Current Account of
Priya and Neha was transferred to their respective Capital Accounts on
1.4.2022, to help them earn their fair share of Interest on Capital.

You are required to prepare :-

(i) Profit & Loss Appropriation A/c
(ii) Partners’ Capital A/c’s.
OR
Q.9]B] Shreya, Zoya and Manushree were in partnership sharing profits and Losses [10]
in the ratio of 1:2:2. Their Capital balances on 1.4.2022 were:
Shreya Rs.3,00,000 (Cr.)
Zoya Rs. 4,50,000 (Cr.)
Manushree Rs. 10,00,000 (Cr.)

Their partnership deed provided for the following:

i) Shreya provides her personal office to the firm for business use charging
yearly rent of Rs.1,50,000
ii) Interest on capital was allowed @8% p.a. and Interest on drawings was
charged @ 10% p.a.
iii) Zoya was allowed a commission of 10% of Net Profit, after charging such
commission.
iv) Shreya was allowed salary @Rs.10,000 per month.
v) Manushree’s share of Profit , (including Interest on Capital) is guaranteed at
not less than Rs. 3,00,000 by the firm.
The Net profit of the firm for the year ended 31.3.2023 was Rs. 10,30,000
before making above adjustments and before accounting for outstanding
General Manager’s commission Rs. 20,000 and Prepaid Insurance of
Rs.20,000.
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You are informed that:

➢ Shreya has withdrawn Rs.5000 at the beginning of each month.
➢ Zoya has withdrawn Rs.5000 at the end of each quarter.
➢ Manushree has withdrawn Rs. 24,000 during the year.

You are require to prepare:-

i. Profit & Loss Appropriation A/c
ii. Partners’ Capital A/c

Q.10]A] Pluto Ltd. invited applications for issuing 50,000 equity shares of Rs.10 each [10]
at par. The amount was payable as follows:

On application : Rs. 2 per share

On Allotment : Rs. 4 per share
On First and Final Call : Balance Amount

The issue was oversubscribed three times. Applications for 30% shares were
rejected and money refunded. Allotment was made to the remaining
applicants as follows:

Category No. of Shares Applied No. of Shares Allotted

I 80,000 40,000
II 25,000 10,000
Excess money paid by the applicants who were allotted shares was adjusted
towards the sums due on allotment.

Deepak, a shareholder belonging to Category I, who had applied for 1,000

shares, failed to pay the allotment money. Raju a shareholder holding 100
shares, also failed to pay the allotment money. Raju belonged to Category II.
Shares of both Deepak and Raju were forfeited immediately after allotment.
Afterwards, first and final call was made was duly received. The forfeited
shares of Deepak and Raju were reissued at Rs.11 per share fully paid up.

Pass necessary Journal entries for the above transactions in the books of
the company.
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OR

Q.10]B] Sangita Limited invited applications for issuing 60,000 shares of Rs.10 each at [10]
par.
The amount was payable as follows:
On Application Rs. 2 per share
On Allotment Rs. 3 per share
On first and Final Call Rs. 5 per share
Applications were received for 92,000 shares. Allotment was made on the
following basis:

i) To applicants for 40,000 shares - Full

ii) To applicants for Rs.50,000 - 40%
iii) To applicants for 2,000 shares – Nil

Rs.1,08,000 was realized on account of allotment (excluding the amount

carried from application money) and Rs.2,50,000 on account of call.

The directors decided to forfeit shares of those applicants to whom full

allotment was made and on which allotment money was overdue.

Pass journal entries in the books of Sangita Limited to record the above
transactions:
SECTION B [20 Marks]
(Attempt all the questions)

Q.11] In subparts (i) and (ii) choose correct options and in sub parts (iii) and [01]
(iv) answer the questions as instructed.

i) The current ratio of a company is 2:1. Which of the following

transactions would decrease the ratio?

a) Purchase of goods worth Rs.80,000/- on cash.

b) Sale of furniture worth Rs.50,000/-
c) Purchase of goods worth Rs.50,000/- on credit.
d) Paid creditors Rs.40,000/-
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ii) Stakeholders of Kamal Ltd. are interested to know the speed at which [01]
activities of the business are being performed.
According to you which of the following ratios the stakeholders will
require of the company in above case.
a) Profitability ratios
b) Turnover ratios
c) Liquidity ratios
d) Solvency ratios

iii) Do you think that Bank deposit (fixed deposit) with 100 days of [01]
maturity will be involved in Cash and Cash equivalents? Give reason.

iv) Why do we add back depreciation to Net Profit while calculating cash [01]
flows from operating activities?

v) A company’s General Reserved is Rs.10,00,000/- (negative balance) in [01]

the year 2023. It became Rs.15,00,000 (positive balance) in the year
2024. What is the percentage of change?

Q.12] Following is the statement of Profit &Loss of Sun India Ltd. for the year [03]
ended 31st March 2023:
Particulars Note 31.3.2023 (Rs.) 31.3.2022 (Rs.)
No.
Revenue from operations 25,00,000 20,00,000

Other Incomes 1,00,000 5,00,000

Employee benefits expenses 60% of Total Revenue 50% of Total Revenues

Other Expenses 10% of Employee 20% of Employee

Benefits Expenses Benefits Expenses
Tax Rate 50% 40%

You are required to prepare a Comparative Statement of Profit and

Loss of Sun India Ltd. from the given statement of Profit and Loss.
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Q.13] Calculate any three ratios: [02]

i] Calculate from the following details:

LIQUID RATIO

Current Assets = Rs. 70,000

Working capital = Rs. 30,000
Inventories = Rs. 30,000
Revenue from Operations = Rs. 1,40,000
Cost of Revenue from Operations = Rs. 68,000

ii] From the following details, calculate RETURN ON INVESTMENT: [02]

Share Capital :
Equity Rs.4,00,000
Preference Rs.1,00,000
General Reserve Rs.2,70,000
10% Debentures Rs.4,00,000
Current Liabilities Rs.1,00,000
Net Profit (after Debenture interest and Income Tax) Rs.80,000
Rate of Tax 50%

iii] Calculate NET PROFIT RATIO from the following information: [02]
Revenue from Operations (Sales) Rs.20,00,000; Gross Profit Ratio 30%;
Operating Ratio 80%; Non – operating Expenses Rs.30,000; Non –
operating Income Rs.50,000.

iv] Calculate INTEREST COVERAGE RATIO from the following details [02]
obtained from financial statements of KX Ltd. for the year ended 31st
March 2023.
Net Profit after tax Rs.6,00,000
Rs. 40,00,000, 12% Debentures of Rs.100 each.
Tax Rate 40%.
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Q.14]A] From the following Balance Sheets of Surya Ltd. Find out cash from [06]
operating activities only:
Particulars Note 31.3.2023 31.3.2023
no (Rs.) (Rs.)
I] EQUITY AND LIABILITIES:
I) Shareholder’s Funds:
a) Share Capital 35,000 30,000
b) Reserve and Surplus 1 22,000 3,500
2) Non – Current Liabilities
Long – term Borrowings 2 25,000 21,000
3) Current Liabilities
Trade Payable 12,500 8,500
TOTAL 94,500 63,000
II] ASSETS:
1) Non – Current Assets:
a) Property, Plant and Equipment
and Intangible Assets
i) Property, Plant and Equipment 3 41,000 32,000
ii) Intangible Assets 4 8,000 10,000
b) Non Current Investments 5 8,000 3,000
2) Current Assets:
a) Inventory 24,500 6,000
b) Cash & Cash Equivalents 13,000 12,000
TOTAL 94,500 63,000

Notes : 1] Reserve & Surplus : 31.3.23 31.3.22

General Reserve 15,000 9,500
Profit & Loss Balance 7,000 (6,000)
22,000 3,500
2) Long – term Borrowings :
10% Debentures 25,000 21,000
3) Property, Plant and Equipment:
Machinery 54,000 41,000
Less: Provision for Depreciation 13,000 9,000
41,000 32,000
4) Intangible Assets :Goodwill 8,000 10,000
5) Rate of interest on Investments is 10% p.a.
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Additional Information :
1. Debentures were issued on 31.3.23
2. Investments were made on 31.3.23

OR

Q.14]B] The following is the statement of Profit and Loss of Bharat Gas Ltd. for [06]
the year ended March 31, 2023.
Particulars Note Amount
no.
I. Revenue from Operations (Sales) 10,00,000

II. Expenses :

Purchases 5,00,000

Changes in Inventories (opening Inventory – 50,000

Closing Inventory )(2,50,000 – 2,00,000)

Other Expenses 3,00,000

Total Expenses 8,50,000

III. Profit before Tax (I – II) 1,50,000

Additional information:

i. Trade receivable decrease by Rs.30,000 during the year.

ii. Prepaid expenses increase by Rs.5,000 during the year.
iii. Trade payables decrease by Rs.15,000 during the year.
iv. Outstanding expenses increase by Rs.3,000 during the year.
v. Other expenses included depreciation of Rs.25,000.

Compute Net cash provided by operations for the year ended March 31, 2023.

SECTION C
(NOT TO BE ATTEMPTED )
****************************************************************************************

Best of Luck !