Section B : Preparation of Financial Statements [40 Marks]

3. Preparation of Final Accounts of Profit Oriented organizations, Non-Profit

Organizations and from Incomplete Records
(i) Preparation of Financial statements of Profit Oriented organizations:
P&L Account, Balance Sheet.
(ii)

Preparation of Financial Statements of Non-Profit making

organizations: Preparation of Receipts & Payments Account, Income&
Expenditure account and Balance Sheet.

(iii) Preparation of Financial Statements from incomplete records (Single

entry)
4. Partnership Accounts
Admission, Retirement, Death, Treatment of Joint Life Policy ,Dissolution of
partnership firms including piece meal distribution, Amalgamation of
partnership firms, Conversion of partnership firm into a company and sale of
partnership firm to a company