Series : WYXZ7 SET ~ 2

Q.P. Code 67/7/2

Roll No.

Candidates must write the Q.P. Code on

the title page of the answer-book.

(I) 39
Please check that this question paper contains 39 printed pages.
(II)

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.
(III) 34
Please check that this question paper contains 34 questions.
(IV) ,
Please write down the Serial Number of the question in the
answer-book at the given place before attempting it.
(V) 15
10.15 10.15 10.30

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 candidates will read the question paper only and will not
# write any answer on the answer-book during this period.

ACCOUNTANCY
3 80
Time allowed : 3 hours Maximum Marks : 80

67/7/2 #1# P.T.O.

(i) 34
(ii)
(iii)
(iv)
I:
II :
(v) 1 16 27 30
1
(vi) 17 20 31 32
3
(vii) 21, 22 33 I
4
(viii) 23 26 34 II
6
(ix) ,

1. ( ) 1 , 2024 100 6,000, 11% 10%

10%
1
(A) 1,20,000 (B) 60,000
(C) 6,00,000 (D) 6,60,000

( ) 100 8,000, 10% 98

10% 1
(A) 9,80,000 (B) 10,00,000
(C) 7,84,000 (D) 8,00,000
67/7/2 #2#
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) On 1st October, 2024, Nirmal Ltd. issued 6,000, 11% Debentures of
100 each at a premium of 10%, redeemable at a premium of 10%.
1
(A) 1,20,000 (B) 60,000
(C) 6,00,000 (D) 6,60,000
OR
(b) Raja Ltd. issued 8,000, 10% Debentures of 100 each at 98 per
debenture. 10% Debentures Account will be credited by : 1
(A) 9,80,000 (B) 10,00,000
(C) 7,84,000 (D) 8,00,000

67/7/2 #3# P.T.O.

2. ( ) 3:5
31 , 2024
80,000
5,000
? 1
(A) 75,000 (B) 85,000
(C) 80,000 (D) 90,000

( ) ,
31 , 2024 10,000
15,000
2,000

1
(A) 10,000 10,000
(B) 10,000 10,000
(C) 13,000 13,000
(D) 13,000 13,000

3. ( ) ? 1
(A)
(B)
(C)

(D)

( ) ? 1
(A)
(B)
(C)
(D)
67/7/2 #4#
2. (a) Sandhya and Suman were partners in a firm sharing profits and
losses in the ratio of 3 : 5. They decided to dissolve the firm on
31st March, 2024. On the date of dissolution, the Balance Sheet of
the firm showed a balance of 80,000 in sundry debtors and a
balance of 5,000 in provision for bad debts account. How much
amount will be transferred to Realisation Account to close Sundry
Debtors Account ? 1
(A) 75,000 (B) 85,000
(C) 80,000 (D) 90,000
OR
(b) Dev, Bhudev and Shamdev were partners in a firm sharing profits
equally. On 31st March, 2024, their firm was dissolved. On this date
the bank account showed a credit balance of 10,000 and there was
a debit balance of 15,000 in the cash account. All payments were
settled by cheque. Ravi, a creditor of 2,000 was not having any
bank account, therefore he was paid in cash. Afterwards the cash
account was closed by depositing the balance of cash into the bank.
The journal entry for closing cash account will be : 1
(A) Debit Cash A/c by 10,000 and Credit Bank account by
10,000
(B) Credit Cash A/c by 10,000 and Debit Bank account by
10,000
(C) Debit Bank A/c by 13,000 and Credit Cash account by
13,000
(D) Debit Cash A/c by 13,000 and Credit Bank account by
13,000

3. (a) Which of the following will not result in compulsory dissolution of a

partnership firm ? 1
(A) When all partners or all but one partner become insolvent.
(B) When the business of the firm becomes illegal.
(C) When some event has taken place which makes it unlawful
for the partners to carry on the business of the firm in
partnership.
(D) When a partner dies.
OR
(b) Which of the following will result in dissolution of a partnership
firm ? 1
(A) Death of a partner.
(B) Insolvency of a partner.
(C) When the business of the firm becomes illegal.
(D) Expiry of the period of partnership.
67/7/2 #5# P.T.O.
4. 3:2
31 , 2024 1,50,000 10,000
32,000 31 , 2024
50,000 1 , 2023 1
(A) 1,30,000 (B) 2,02,000
(C) 1,08,000 (D) 98,000

5. 1 , 2023 100 9,000, 12% 10%

4 10% 31 , 2024
1
(A) 9,90,000 (B) 9,00,000
(C) 1,08,000 (D) 1,18,800

6. , , 5:3:1:1
1 , 2024 ,
,
1
(A) 7:4:4 (B) 15 : 8 : 7
(C) 1:1:1 (D) 16 : 7 : 7

7. ,
1 , 2024
4:3
2,10,000

? 1
(A) 70,000 , 50,000
20,000
(B) 50,000 , 20,000 70,000

(C) , 70,000
2,10,000
(D) 1,20,000 , 90,000
2,10,000

67/7/2 #6#
4. Saloni and Mohini were partners in a firm sharing profits and losses in the
ratio of 3 : 2. On 31st 1,50,000. During
the year, she withdrew 10,000 and introduced additional capital of
32,000. For the year ended 31st March, 2024, the firm earned a profit of
st April, 2023, was : 1
(A) 1,30,000 (B) 2,02,000
(C) 1,08,000 (D) 98,000

5. On 1st April, 2023, Mudra Ltd. issued 9,000, 12% Debentures of 100 each
at 10% premium, redeemable at a premium of 10% after 4 years. The
interest due on debentures for the year ended 31st March, 2024
was : 1
(A) 9,90,000 (B) 9,00,000
(C) 1,08,000 (D) 1,18,800

6. Hari, Chander, Prakash and Govind were partners in a firm sharing

profits and losses in the ratio of 5 : 3 : 1 : 1. On 1stApril, 2024, Hari retired
and his share was acquired equally by Chander, Prakash and Govind. The
new profit sharing ratio of Chander, Prakash and Govind will be : 1
(A) 7:4:4 (B) 15 : 8 : 7
(C) 1:1:1 (D) 16 : 7 : 7

7. Vimal, Bose and Ghosh were partners in a firm sharing profits and losses
equally. On 1stApril, 2024, Bose retired from the firm and the new profit

retirement, the goodwill of the firm was valued at 2,10,000. It was decided
to treat goodwill without opening goodwill account. By what amount will

1
(A) 70,000, Credit Vimal and Ghosh by 50,000
and 20,000, respectively.
(B) Debit Vimal by 50,000, Debit Ghosh by 20,000 and Credit Bose
by 70,000.
(C) Credit Vimal, Bose and Ghosh by 70,000 each and Debit Goodwill
A/c by 2,10,000.
(D) Debit Vimal by 1,20,000, Debit Ghosh by
A/c by 2,10,000.
67/7/2 #7# P.T.O.
8.
1 , 2024 1/5
,
45,000
? 1
(A) 22,500 45,000

(B) 18,000 , 9,000

45,000
(C) 45,000 22,500
(D) 45,000 22,500

9. 31 , 2024
12%
________ 1
(A) 3 (B) 6
(C) (D)

10.
, 1
(A) (B)
(C) (D)

11. (A) (R) : 1

(A) :

(R) :

(A) (A) , (R)

(B) (A) , (R)
(C) (A) (R) , (R), (A)

(D) (A) (R) (R), (A)

67/7/2 #8#
8. Jim and Joy were partners in a firm sharing profits and losses equally. On
1st April, 2024, they admitted John as a new partner for 1/5th share in the

Jim and Joy showed a debit balance of 45,000 in Profit and Loss Account.
From the following, what will be the accounting treatment for this balance
1
(A) Debit Jim and Joy by 22,500 each and Credit Profit and Loss
Account by 45,000.
(B) Debit Jim and Joy by 18,000 each, Debit John by 9,000 and Credit
Profit and Loss Account by 45,000.
(C) Debit John by 45,000 and Credit Jim and Joy by 22,500 each.
(D) Debit Profit and Loss Account by 45,000 and Credit Jim and Joy
by 22,500 each.

9. Radha and Rohit were partners in a firm. Radha withdrew a fixed amount
at the beginning of every quarter for the year ended 31st March, 2024.

was charged for _____ months. 1

(A) 3 (B) 6
(C) (D)

10. The amount of share capital which a company is authorised to issue by its
Memorandum of Association is known as : 1
(A) Issued Capital (B) Reserve Capital
(C) Nominal Capital/Registered Capital (D) Subscribed Capital

11. There are two statements Assertion (A) and Reason (R) : 1
Assertion (A) : Private assets of a partner can also be used for paying off

Reason (R) : Liability of a partner for acts of the firm is limited.

Choose the correct alternative from the following :
(A) Assertion (A) is incorrect, but Reason (R) is correct.
(B) Assertion (A) is correct, but Reason (R) is incorrect.
(C) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not
the correct explanation of Assertion (A).
(D) Both Assertion (A) and Reason (R) are correct and Reason (R) is the
correct explanation of Assertion (A).
67/7/2 #9# P.T.O.
12. 2:1
1 , 2023 1/4
1,20,000
31 2024 3,60,000
: 1

(A) 20,000 (B) 1,20,000

(C) 10,000 (D) 1,60,000

13. 10 200 1,400

,
? 1

(A) 1 (B) 7

(C) 3 (D) 4

14. 1/3
3,00,000
24,000
10%
? 1

() ()
(A) 30,000
30,000
(B) 6,000
6,000

(C) 2,000
2,000
(D) 2,000
2,000
2,000
6,000

67/7/2 # 10 #
12. Pooja and Kumari were partners in a firm sharing profits and losses in the
ratio of 2 : 1. On 1st April, 2023, Noori was admitted for a new partner 1/4th
share in the profits of the firm. Noori was guaranteed a minimum profit of
1,20,000. Any deficiency on this account was to be borne by Pooja and
Kumari in their profit sharing ratio. During the year ended 31 st March,
2024, the firm earned a net profit of 3,60,000. The amount of deficiency
borne by Pooja will be : 1
(A) 20,000 (B) 1,20,000
(C) 10,000 (D) 1,60,000

13. LN Ltd. forfeited 200 shares of 10 each. The amount forfeited was
1,400. What will be the maximum amount of discount per share at which
these shares can be reissued ? 1
(A) 1 (B) 7
(C) 3 (D) 4

14. Nandan and Abhinandan were partners in a firm. They admitted

rd
Govindan as a new partner for 1/3
admission, the Balance Sheet of the firm showed sundry debtors at
3,00,000 and a provision for bad debts at 24,000. It was decided to
maintain the provision for bad debts at 10% of the debtors.
Which of the following journal entries will show the correct accounting
treatment for the above transactions ? 1
Journal
Dr. Amount Cr. Amount
Particulars
() ()
(A) Revaluation A/c Dr. 30,000
To Provision for Bad Debts 30,000
(B) Revaluation A/c Dr. 6,000
To Provision for Bad Debts 6,000
(C) 2,000
To Provision for Bad Debts 2,000
(D) 2,000
2,000
2,000
To Provision for Bad Debts 6,000

67/7/2 # 11 # P.T.O.
15. ( ) , 3:2:1
1 , 2024 5:3:2
6,00,000

? 1
(A) 6,00,000 6,00,000

(B) 6,000 6,000

(C) 20,000 20,000

(D) 20,000 20,000

( ) , 4:3:2
1 , 2024 2:4:3

1
(A) 1/9, 1/9, 2/9
(B) 1/9, 1/9, 2/9
(C) 2/9, 1/9, 1/9
(D) 2/9, 1/9, 1/9

16. ( ) X 100 100 15 5

50

1
(A) 4,500 (B) 1,500
(C) 10,000 (D) 5,000

( ) 10 500 2
300 12
1
(A) 2,400 (B) 3,000
(C) 4,000 (D) 5,000

67/7/2 # 12 #
15. (a) Jayant, Vijayant and Anant were partners in a firm sharing profits
and losses in the ratio of 3 : 2 : 1. With effect from 1st April, 2024,
they decided to share the profits in the ratio of 5 : 3 : 2. For this
purpose, the goodwill of the firm was valued at 6,00,000.
The partners decided to treat goodwill without opening goodwill

credited ? 1
(A) Debit Anant by 6,00,000 and Credit Vijayant by 6,00,000.
(B) Debit Vijayant by 6,000 and Credit Anant by 6,000.
(C) Debit Vijayant by 20,000 and Credit Anant by 20,000.
(D) Debit Anant by 20,000 and Credit Vijayant by 20,000.

OR
(b) Akshay, Reet and Manya were partners in a firm sharing profits and
losses in the ratio of 4 : 3 : 2. With effect from 1st April, 2024, they
decided that in future, they will share the profits and losses in the
ratio of 2 : 4 : 3. Identify the gain or sacrifice by the partners due to
change in the profit sharing ratio from the following : 1
(A)
(B)
(C)
(D)

16. (a) X Ltd. forfeited 100 shares of 100 each for non-payment of the
allotment money of 15 per share (including premium 5). The first
and final call of 50 per share was not yet made. The amount that
was debited to share capital account was : 1
(A) 4,500 (B) 1,500
(C) 10,000 (D) 5,000
OR
(b) Raman Ltd. forfeited 500 shares of 10 each for non-payment of
final call of 2 per share. Out of the forfeited shares, 300 shares
were re-issued at 12 per share fully paid-up. The amount that was
transferred to Capital Reserve Account was : 1
(A) 2,400 (B) 3,000
(C) 4,000 (D) 5,000

67/7/2 # 13 # P.T.O.
17. 5:2
31 , 2024

(i) 50,000 , 70%

(ii) 21,000
(iii) 78,000 65,000
3
18. ( ) 1 , 2024 12,00,000
20,00,000 3,00,000
35,00,000 2,00,000
100 11% 10%

( ) 1,98,000
100 8% 10%
(i)
(ii) 3
19. ( ) 4:1
1/4
4,00,000 2,00,000
60,000
50,000

( ) 4:3
1/5

80,000 2,00,000
10% 3

67/7/2 # 14 #
17. Piyush and Mita were partners in a firm sharing profits and losses in the
ratio of 5 : 2. On 31st March, 2024, the firm was dissolved. After
transferring various assets (other than cash) and third-party liabilities to
Realisation Account, the following transactions took place.
(i) Investments whose book value was 50,000 were realised at 70%.
(ii) Unrecorded liabilities of 21,000 were paid.
(iii) Piyush took over stock worth 78,000 at 65,000.
Pass necessary journal entries for the above transactions in the books of
Piyush and Mita. 3
18. (a) On 1st April, 2024, Varsha Ltd. purchased from Rama Ltd.,
furniture at 12,00,000 and machinery at 20,00,000. It also took
over its liabilities amounting to 3,00,000. The purchase
consideration of 35,00,000 was paid by issuing a bank draft of
2,00,000 and the balance by issue of 11% Debentures of 100 each,
at a premium of 10%.
Pass necessary journal entries for the above transactions in the
books of Varsha Ltd. 3
OR
(b) Roshni Ltd. purchased machinery worth 1,98,000 from Prakash
Ltd. The purchase consideration was paid by issue of 8% debentures
of 100 each at 10% discount.
(i) Calculate the number of debentures issued.
(ii) Pass necessary journal entries for purchase of machinery and
issue of debentures. 3
19. (a) Bharat and Ishu were partners in a firm sharing profits and losses
in the ratio of 4 : 1. Rishab was admitted into partnership for 1/4 th
share in the profits of the firm. Goodwill of the firm was valued at
4,00,000. Rishab brought 2,00,000 as his capital and 60,000 out

admission, goodwill was appearing in the books of the firm at

50,000.
Pass necessary journal entries for the above transactions in the
3
OR
(b) Sana and Rajesh were partners in a firm sharing profits and losses
in the ratio of 4 : 3. They admitted Sonu into partnership for 1/5 th
share in the profits of the firm. Goodwill of the firm was to be valued
-profits. Average net profit of the
firm was 80,000. Capital employed in the business was
2,00,000 and normal rate of return was 10%. Calculate the amount
of goodwill premium brought by Sonu. 3

67/7/2 # 15 # P.T.O.
20. , 2:2:1
1 , 2024 ,

2,64,000
3,00,000

21.
4
(i) 100 1,000, 10% 5%
5 10%
(ii) 100 5,000, 10% 10%
5

22. , 3:2:1
31 1 , 2024

(i)
(ii) 12%
(iii)
(iv)

( ) 1 , 2024 4,00,000
90,000
( ) 60,000
() 2,00,000, 2,20,000, 1,20,000
1,80,000
4

67/7/2 # 16 #
20. Amar, Ali and Ajay were partners in a firm sharing profits and losses in
the ratio of 2 : 2 : 1. On 1st April, 2024, Ajay decided to retire from the firm.
On that day, the balance in his capital account after making necessary
adjustments on account of reserves, revaluation of assets and
reassessment of liabilities was 2,64,000. Amar and Ali agreed to pay him
3,00,000 in full settlement of his claim.

the same. 3

21. Pass necessary journal entries for the issue of debentures in the books of
RN Ltd. for the following transactions : 4
(i) Issued 1,000, 10% Debentures of 100 each at 5% premium,
redeemable at a premium of 10% after 5 years.
(ii) Issued 5,000, 10% Debentures of 100 each at a premium of 10%,
redeemable at par after 5 years.

22. Hans, Sohan and Kishore were partners in a firm sharing profits and
losses in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every
year. On 1st August, 2024, Kishore died. The partnership deed provided
that on the death of a partner, his executors will be entitled for :
(i) Balance in his capital account less drawings.
(ii) Interest on capital @ 12% p.a.
(iii) His share of goodwill.
(iv) His share in the profits of the firm till the date of his death
calculated on the basis of average profit of the previous four years.
The following information was obtained from the books of the firm on the

(a) Balance in his capital account on 1st April, 2024 was 4,00,000 and
he had withdrawn 90,000 till that date for his treatment.
(b) 60,000.
(c) Profits of the firm for the last four completed years were :
2,00,000, 2,20,000, 1,20,000 and 1,80,000.
4

67/7/2 # 17 # P.T.O.
23. , 2:2:1
31 , 2024
31 , 2024 ,

() ()
: 9,00,000
3,00,000 6,00,000
4,00,000 1,20,000
5,00,000 12,00,000 80,000
:
8,000 72,000
1,60,000 18,000
80,000 1,00,000
3,00,000 1,30,000
1,90,000
10,000

19,40,000 19,40,000

(i) 20,00,000
(ii) 40,000

(iii) 90,000
(iv) 60% 90% 44,000

(v)
(vi) 10,000
(vii) 8,000
6

67/7/2 # 18 #
23. Raja, Rajan and Rajani were partners in a firm sharing profits and losses
in the ratio of 2 : 2 : 1. On 31st March, 2024, their Balance Sheet was as
follows :
Balance Sheet of Raja, Rajan and Rajani as at
31st March, 2024
Amount Amount
Liabilities Assets
( ) ( )
Capitals : Land and Building 9,00,000
Raja 3,00,000 Plant and Machinery 6,00,000
Rajan 4,00,000
Furniture 1,20,000
Rajani 5,00,000 12,00,000
Debtors 80,000
Less :
General Reserve 1,60,000
Provision for
doubtful debts 8,000 72,000
Creditors 80,000 Bills Receivable 18,000
R 3,00,000 Stock 1,00,000
M 1,90,000 Bank 1,30,000
Outstanding
10,000
Wages
19,40,000 19,40,000
On the above date, the firm was dissolved. Assets were realised and
liabilities were paid off as follows :
(i) Land and Building was sold for 20,00,000.
(ii) Plant and Machinery realised 40,000 less than their book value
and furniture was taken over by the creditors in full settlement of
their account.
(iii) Debtors and Bills Receivable realised 90,000.
(iv) 60% of the stock was taken over by Raja at 90% of the book value
and the remaining stock realised at 44,000.
(v) Outstanding wages were paid in full.
(vi) 10,000.
(vii) Realisation expenses were 8,000.
Prepare Realisation Account. 6

67/7/2 # 19 # P.T.O.
24. ( ) 100 70,000

20
40
20

1,00,000

, 1,000
,
1,400

( )

(i) 10 500 , 2
, 5
3
11
,
(ii) 10 800 3
2
400 7 , 8
6

67/7/2 # 20 #
24. (a) Mayank Ltd. invited applications for issuing 70,000 equity shares of
100 each. The amount was payable as follows :
On Application 20 per share
On Allotment 40 per share
On First call 20 per share
On Second and Final Call Balance
Applications for 1,00,000 shares were received and allotment was
made to all the applicants on pro-rata basis. Excess application
money received with application was adjusted towards sums due on
allotment. Jay, a shareholder who had applied for 1,000 shares,
failed to pay the allotment money and his shares were forfeited
immediately after the allotment. Afterwards the first call was made.
Meenakshi, the shareholder of 1,400 shares, failed to pay the first
call money and her shares were forfeited just after the first call. The
second and final call has not been made.
Pass necessary journal entries in the books of the company for the
above transactions. 6

OR

(b) Pass necessary journal entries for forfeiture and re-issue of shares for
the following transactions :
(i) Sierra Ltd. forfeited 500 shares of 10 each, issued at a
premium of 2 per share (payable with allotment) for
non-payment of allotment money of 5 per share (including
premium). The first and final call of 3 per share was not
made. All the forfeited shares were reissued at 11 per share,
fully paid-up.
(ii) Mahira Ltd. forfeited 800 shares of 10 each on which first
call of 3 per share was not received. The second and final
call of 2 per share was not yet called. Out of these, 400
shares were reissued as 8 paid-up for 7 per share. 6

67/7/2 # 21 # P.T.O.
25. ( ) 2:3
31 , 2024
31 , 2024

() ()
: 10,00,000
5,00,000 1,00,000
7,50,000 12,50,000 80,000
:
50,000
5,000 75,000
75,000 40,000
25,000 1,95,000
10,000
14,10,000 14,10,000

(i) , 2:3:5

(ii) 10,00,000
2,00,000

(iii) 2,00,000

(iv) 10%

(v) 3,000
5%

(vi)

67/7/2 # 22 #
25. (a) Uma and Umesh were partners in a firm sharing profits and losses
in the ratio of 2 : 3. On 31st March, 2024, their Balance Sheet was
as follows :

Balance Sheet of Uma and Umesh as at 31st March, 2024

Amount Amount
Liabilities ( ) Assets ( )
Capitals : Land and Building 10,00,000
Uma 5,00,000 Furniture 1,00,000
Umesh 7,50,000 12,50,000 Debtors 80,000
Less :
Creditors 50,000 Provision for
doubtful debts 5,000 75,000
General Reserve 75,000 Stock 40,000
Workmen
Bank 1,95,000
Compensation Fund 25,000
Outstanding
Electricity Bill 10,000
14,10,000 14,10,000
On the above date, Daya was admitted as a new partner on the
following terms :
(i) The new profit sharing ratio of Uma, Umesh and Daya will
be 2 : 3 : 5.
(ii) Daya will bring 10,00,000 as her capital and 2,00,000 as
her share of goodwill premium.
(iii) The value of Land and Building will be increased by
2,00,000.
(iv) Furniture will be depreciated by 10%.
(v) 3,000 bad debts will be written off and a provision for bad
and doubtful debts be created @ 5% of debtors.
(vi) Outstanding electricity bill will be paid off.
Pass necessary journal entries for the above
admission. 6
OR

67/7/2 # 23 # P.T.O.
 , 3:5:2
31 , 2024
31 , 2024 ,

() ()
: 9,50,000

2,00,000 2,00,000

3,00,000 50,000
5,00,000 10,00,000

80,000 70,000
2,00,000 95,000
:
5,000 90,000
1,50,000
70,000

14,30,000 14,30,000

(i) 1,20,000

(ii) 50,000

(iii) 10%

(iv) ,
(v) 65,000

(vi)

67/7/2 # 24 #
 (b) Naval, Nyaya and Nritya were partners in a firm sharing profits
and losses in the ratio of 3 : 5 : 2. On 31st March, 2024, their Balance
Sheet was as follows :

Balance Sheet of Naval, Nyaya and Nritya as at

31st March, 2024

Amount Amount
Liabilities Assets
( ) ( )

Capitals : Land and Building 9,50,000

Naval 2,00,000 Plant and Machinery 2,00,000

Nyaya 3,00,000 Furniture 50,000
Nritya 5,00,000 10,00,000 Stock 70,000
Debtors 95,000
Less :
General Reserve 80,000
Provision for
doubtful debts 5,000 90,000
M 2,00,000 Bank 70,000

Creditors 1,50,000

14,30,000 14,30,000

On the above date, Nyaya retired from the firm on the following
terms :
(i) Goodwill of the firm was valued at
share of the same was to be adjusted through the capital
accounts of remaining partners.
(ii) Land and Building was to be increased by 50,000.
(iii) Plant and Machinery will be depreciated by 10%.
(iv) All debtors were found to be good, hence provision for bad
debts was not required.
(v) Investments of 65,000 were unrecorded.
(vi) Amount payable to Nyaya was transferred to his loan
account.

6
67/7/2 # 25 # P.T.O.
26. 10 2,00,00,000
2,00,000 2
1,95,000
, 5,000 2

(i) 1
(A) 19,50,000 (B) 19,40,000
(C) 20,00,000 (D) 2,00,00,000
(ii) 1
(A) 19,00,000 (B) 19,40,000
(C) 20,00,000 (D)
(iii) 1
(A) 20,00,000 (B) 2,00,00,000
(C) 19,50,000 (D) 19,40,000
(iv) 1
(A) 20,00,000 (B) 9,50,000
(C) 1,00,00,000 (D) 9,40,000
(v) : 1
(A) 19,50,000 (B) 19,40,000
(C) 19,00,000 (D) 1,90,000
(vi) 1
(A) 10,000 (B) 40,000
(C) 5,000 (D) 50,000

27. 2:1
? 1
(A)
(B)
(C)
(D)

67/7/2 # 26 #
26. Neera Ltd. is registered with an authorised capital of 2,00,00,000 divided
into equity shares of 10 each. The company invited applications for
issuing 2,00,000 equity shares at a premium of 2 per share. Applications
were received for 1,95,000 shares and allotment was made to all the
applicants. All calls were made and duly received except the final call of
2 per share on 5,000 shares. The company forfeited these shares.
Answer the following questions :
(i)
1
(A) 19,50,000 (B) 19,40,000
(C) 20,00,000 (D) 2,00,00,000
(ii)
1
(A) 19,00,000 (B) 19,40,000
(C) 20,00,000 (D) Nil
(iii)
1
(A) 20,00,000 (B) 2,00,00,000
(C) 19,50,000 (D) 19,40,000
(iv)
will be : 1
(A) 20,00,000 (B) 9,50,000
(C) 1,00,00,000 (D) 9,40,000
(v)
1
(A) 19,50,000 (B) 19,40,000
(C) 19,00,000 (D) 1,90,000
(vi)
will be : 1
(A) 10,000 (B) 40,000
(C) 5,000 (D) 50,000

PART B
Option I
(Analysis of Financial Statements)
27. The Current Ratio of Manas Ltd. is 2 : 1. Which of the following
transactions will reduce the current ratio ? 1
(A) Payment to trade payables
(B) Issue of shares
(C) Sale of inventory at a loss
(D) Cash collected from trade receivables

67/7/2 # 27 # P.T.O.
28. ( ) ? 1
(A) (B)
(C) (D)

( ) 1
(A)
(B)
(C)
(D)

29. ( ) 28% ,
___________ 1
(A) 100% (B) 72%
(C) 28% (D) 128%

( )
, ___________ 1
(A)
(B)
(C)
(D)

30. I:

II :
1

(A)
(B)
(C) I II
(D) I II

67/7/2 # 28 #
28. (a)
1
(A) Purchase of Inventory (B) Payment of Dividend
(C) Purchase of Property (D) Issue of Debentures
OR
(b) 1
(A) Cash outflows from investing activities
(B) Cash inflows from investing activities
(C) Cash inflows from financing activities
(D) Cash inflows from operating activities

29. (a) If the operating ratio of Sana Ltd. is 28%, its operating profit ratio
will be ___________. 1
(A) 100% (B) 72%
(C) 28% (D) 128%
OR
(b) The statement which expresses all items of a financial statement as
a percentage of some common base is __________. 1
(A) Comparative Statement
(B) Common Size Statement
(C) Statement of Profit and Loss
(D) Position Statement

30. Statement I : Sale of marketable securities will result in flow of cash.

Statement II : Cash flow implies movement of cash in and out due to some
non-cash items. 1
Choose the correct option from the following :
(A) Both the statements are true.
(B) Both the statements are false.
(C) Statement I is true, Statement II is false.
(D) Statement I is false, Statement II is true.

67/7/2 # 29 # P.T.O.
31. 2013 III, I
? 3
(i)
(ii)
(iii)

32. 31 , 2024
3

31.3.2024 31.3.2023
< <
I :
1.
27,00,000 18,00,000

2.
9,00,000 6,00,000

3.
3,00,000 2,00,000
39,00,000 26,00,000
II :
1.

33,00,000 20,00,000
2.

( 3,00,000 2,00,000

( 3,00,000 4,00,000

39,00,000 26,00,000

67/7/2 # 30 #
31. Under which major heads and sub-heads (if any) will the following items be
shown in the Balance Sheet of the company as per Schedule III, Part I of
the Companies Act, 2013 ? 3
(i) Unclaimed dividend
(ii) Public Deposits
(iii) Patents

32. Prepare a Comparative Balance Sheet of Tushar Ltd. as at 31st March,

2024, from the following information. 3

Note 31.3.2024 31.3.2023

Particulars
No. < <
I Equity and Liabilities :

1.
Share Capital 27,00,000 18,00,000

2. Non-Current Liabilities
Long-term Borrowings 9,00,000 6,00,000

3. Current Liabilities
Trade Payables 3,00,000 2,00,000
Total 39,00,000 26,00,000
II Assets :

1. Non-Current Assets
Property, Plant and
Equipment and
Intangible Assets 33,00,000 20,00,000

2. Current Assets
(a) Inventory 3,00,000 2,00,000
(b) Cash and Cash
3,00,000 4,00,000
Equivalents
Total 39,00,000 26,00,000

67/7/2 # 31 # P.T.O.
33. ( ) 4

2,50,000
3,40,000
10,00,000
12% 20,00,000
9,60,000
6,00,000

(i)
(ii)

( )
4
= 0 75 : 1
= 6,00,000
4,00,000
20%
=4
40,000

34. ( )

1,95,000 :

50,000
30,000
10,000
1,05,000
2,00,000 10,000

67/7/2 # 32 #
33. (a) The following information has been obtained from the books of
Gama Ltd. : 4
Particulars Amount ( )
Inventory 2,50,000
Total Current Assets 3,40,000
10,00,000
12% Debentures 20,00,000
Net Profit Before Tax 9,60,000
Cost of Revenue from Operations 6,00,000
Calculate :
(i) Debt Equity Ratio
(ii) Interest Coverage Ratio
OR
(b) Calculate Current Assets and Quick Assets of Beeta Ltd. from the
following information : 4
Quick Ratio = 0 75 : 1
Current Liabilities = 6,00,000
Revenue from Operations are 4,00,000
Gross Profit ratio is 20% of revenue from operations
Inventory turnover ratio = 4 times
Inventory at the end is 40,000 more than inventory at the
beginning.

34. (a) From the following information extracted from the books of Kant

Profit earned during the year is 1,95,000 after considering the

following items :

Particulars Amount ( )
Depreciation on Machinery 50,000
Goodwill written off 30,000
Loss on Sale of Machinery 10,000
Transfer to General Reserve 1,05,000

At the end of the year, Trade Receivables showed an increase of

2,00,000 and Trade Payables a decrease of 10,000.

67/7/2 # 33 # P.T.O.
 ( )

31.3.2023 31.3.2024
( ) ( )
24,00,000 28,00,000

(2,00,000) (3,00,000)
22,00,000 25,00,000

8,00,000 40,000 ,
5,00,000 6

II

27.
1
(A) Correct #DIV/0! Error
(B) Correct #NUM! Error
(C) Correct #N/A Error
(D) Correct #Name Error

28. ( )
? 1
(A) Home + Page down
(B) Home + Down arrow ( )
(C) End + Down arrow ( )
(D) CTRL + Down arrow ( )

67/7/2 # 34 #
 (b) From the following information extracted from the books of
Vandana Ltd., calculate Cash Flows from Investing Activities.

31.3.2023 31.3.2024
Particulars ( ) ( )

Machinery 24,00,000 28,00,000

Accumulated Depreciation
(2,00,000) (3,00,000)
on Machinery
22,00,000 25,00,000
Additional Information :
A piece of machinery costing 8,00,000 on which accumulated
depreciation was 40,000, was sold for 5,00,000. 6

PART B
Option II
(Computerised Accounting)

27. Identify the error which will be displayed on the screen when the value is
not available to a function or formula : 1
(A) Correct #DIV/0! Error
(B) Correct #NUM! Error
(C) Correct #N/A Error
(D) Correct #Name Error

28. (a) How is navigation conducted from first to last cell in a cluster of data
in a column by skipping all the cells in between ? 1
(A) Home + Page down
(B) Home + Down arrow ( )
(C) End + Down arrow ( )
(D) CTRL + Down arrow ( ) successively
OR

67/7/2 # 35 # P.T.O.
 ( ) , ,
, , 1
(A)
(B)
(C)
(D)

29. ? 1
(A)
(B)
(C)
(D)

30. ( )
, , _________, __________
1

(A) ,
(B) ,
(C) ,
(D) ,

( ) ? 1

(A)

(B)

(C)

(D)

67/7/2 # 36 #
 (b) Individual values represented by bars, columns, lines, pie or various
forms plotted on a chart are known as : 1

(A) data point

(B) data label

(C) data series
(D) data markers

29. MS Excel considers which of the following group of mathematical

operations to be of equal importance ? 1
(A) Subtraction and Division
(B) Multiplication and Addition
(C) Division and Multiplication
(D) Exponents and Division

30. (a) Computerised Accounting System rests on Five Pillars :

Data, People, Procedure and ________, ________.

Identify the blank pillars from the following : 1

(A) Hardware, Software

(B) User, Customer

(C) Software, Logic

(D) Timely access, Hardware
OR
(b) Which of the following is not a limitation of Computerised
Accounting System ? 1
(A) Faster obsolescence.
(B) Economy in processing of accounting data.
(C) Data are prone to hacking.
(D) Data may be lost or corrupted due to power interruptions.

67/7/2 # 37 # P.T.O.
31. 3
(i)
(ii) -
(iii)

32. 3

33. ( ) 4

( )

34.
6

67/7/2 # 38 #
31. Explain the following : 3

(i) Memo Voucher

(ii) Post-dated Voucher

(iii) User defined Voucher

32. With the help of an example explain sequential code and block code. 3

33. (a) 4

OR

(b) .
which features of Computerised Accounting System help a business
to maintain its secrecy. 4

34.

67/7/2 # 39 # P.T.O.