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R HSEIIKROXIR
T
45024-A
E ACCOUNTANCY
Time: 3 Hours 1 5 Minutes xtra te read the question paper
Maximum Marks: 80
L
Note: Part 'A' is compuisorHor all students, in addition, student
should opt for either(Part "B or Part
"C and mark the C
selected part on the answer-sheet.
O
(Long Answeviype Questions) M
1. Calculate the amount to be posted in income and expenditure
on 31-3200/
account lor the year endec
P Rs. P
Stock of stationery on 1A2006 8,000 A
3,000
Creditors for stalionery on1-4-2006 R
carried
Advance paid for stationey
900 R
forward from last yedr
A March, 2007
37s 800
Stock of slationery on

on 31 March, 2007 1,200

Advance paid for statione
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Or

Give difference betwcenACU Lapital Account

R
and
R
Capital Account.
Fluctuating
2 On Ist April 2014 an existing firm had assets of Rs. 70,000
excluding cash of RS. >,000. 1ne
parer s capital accounts showed
balance of Rs. 60,000 and
reserve constituted the If the
rest.
normal rate of return 1s 1020 and the
epodwill of the firm is valued
at Rs. 24,000 at 4 years purchase or L
spPer profits. Find the average
profits ot the firm.
E
Or C
A firm had total assets worth Rs. 4 p 0 and extetnal liabilities
Rs. 1,00,000. The normal rate of retun js 12% Phe actual profits
M
carned by the firm amount to Rs. 50,900.hd out the value of M
goodwill under

(Super profit method number o r s purchased 2 P

(b) Capitalisation of average cnrdfit méthod. A
X, Y and Z are partners sharing profin the ratio of 4 : 3:1
R
retiress/selling his share
Y profit of to X and Z for
respectively.
Rs. 16,200, Rs. 7.200 being paid by and Rs. 9,000 being paid R
by Z. The
profity of the firm after YAretirement are Rs. 21,000.
A
DIstribute thesabove profits between a n d Z. Showing how you

Y Y
aTive at the såme.

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A, B and c are
partners in:2 1 ratio B retires.
They had a
policy of Rs. 3,00,O00 on
jojp names, the surtender value of which
is Rs. 80,000. There was
joint life policy reserve account with
cqua
amounts. It was decided.

(a) Not to show these accodumts in the books E

(6) To
surrender the
policy C
Pass journal entries O
X , Y and Z Ltd. made an islbél of 20,000 equitthares of Rs. 100 M
each. Payable Rs. 20 on application, Rs, 49on aliotmert and Rs.
40 on call. All the shares arBubcnbouand amounts duly received
P
100 sha
ss journal entries to give effect
except final call on
A
of these.
R R
R
10 cach in Kawa Shoes Company.
Rahim applied foa000 sharesof A
aloument
The amount,hahg payable Rs. 3 on application; Rs. 5 on

shares. Excess money

Y
caii. He ws allotted 1,500
and Rson rinai

enthes.
retainea 1or Tuture. Pass necessary Journal
Was

P
P Turn Over
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(Short Answer Typpuestions)
cach
s W h y Revaluation Account is prepared ?

6. Under what circumstances a partner m retire from a firm ?

L i s t the grounds on which court mafdissolve a firm.

8. What do mean by Realisation

you Account
9 Differentiate between Share and
Debetures.
10. What are the various sources for
redkmption of debentureS
(Very Short Answer 1kpe Questions each
. What do you mean by partnership dNd ?
12. What is Fixed Capital Account ?

3. Define Goodwill. P
4 What is oversibscription of shares 2A

15. What is meant by Eauity Shares R

16. List any two differepces between Fixta charge and Floating
charge
debertures. A A
Name any wo methods of redemptiok of debentures. Y
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l8. In the
Objective Type Questions) R
absence of
ratio. agreement. profits ate shurce . * * * *********
*

19. Partners are

20. A
collectively called.
company is an
Artiticial
21.
Shareholders person (True/False) L
are the owner of
22. Preference shareholders
the company. (TrueFalse)
get divicdeid at a fixed rate.
23. Debentures which capnot be (True/False) C
urarksfared by mere delivery.at called
****** .. debentures.

24. Debenturelholders are

M M
(a) Creditorsu
P
(6) Owners P
(c) Customers of the A A
company
(d) None of these R R
25. Proiit on cancellation oEAWn deentures is transferred to R
(a) Capital Reserve A A
Y
(b) Dividend,EqTalisation Fundy
(c) Profinard Loss Account
(d) None of thesSe
P
P O
Tur Over
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(Long Answer Type

Part-R A
Questions) each R
26. X Ltd. has a current rado ot 2
and quick ratio of 1
:5*1
Its current liabilities are Rs.
60.00 Calculate the value of stock. T
Or
L E
A business has current
ratio of 3 and a
quick ratio of.2: 1.

If the working capital is Rs.

1,80.000, calculate the curremt liabilitues
and stock.
C
O
(Short Answer TW Qucstons) 3 cach M
27. What is Debt-Equity Ratio

28. Describe three

P P
ratios based
on Briidity.
29. Give three
A A
uses of CashGOw Statement.
R R
(Verv. Short
Answerype Questions) each
R
30. What is cash. bquivalent ?
A
31. What are Financing Activities ?

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32. (Objective Type Questions)
Payment of
dividend leads to
cach R
33. The oulow of cash.
principal amount is (True/False)
interest paid shall be
treatednder Financing
Activity wnie
shown
under
(Long Answer
Part-E
6. What is
T0 Questions cach
database
management Cstem ? How it
accounting ? isS.kseful in

M M
Or

Explain application of DBMS in

generadiok shareholders record.
(Short Answer
P
Txpe Questions) each
7. What are features of
A
comDuternsed AccOuntingSystem
R
28. Explain use of electronie spread sheet in accounting.
R
29. Explain petty cashregister.
A
(Verv Short
Answef Type Questions) 2 cach

30. What is-buisy ? Explain.

Y

31. What is electronic depreciation schedule ? P

P O
Turöver
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97977: S8-7006197006

32. Define field.

A
(Objective TypRQuestions) 1 each

33.
MS-Excel is an
electronic spread skeet.
(True/False)

A RT E

ARTE

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XIIRKN:6-11026-Y
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7006 735558
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7006

h vHod enrs
ISEued
enturg Is 1sSLed
s
at
A 100 rapayatle at
A
R Face value a . 105 Rs. 0.

required).
of the
debenture Rs. repayabe at S.
100
100. (issue
entries oni
R
M Ltd.
Or
issued 5,000, 8% T
an., 2,000 at
par but debejtures of Rs. 100 each on 1st T
of
protits. Cive journal
entriss
redeemahle at a
premium of 1070
Ou
redemption. at the time of issue and E
(short Answer L
.
Calculate the amount that TYpe Questions)
expenditure account v be posted to income E
of M.
club a the year and
ending 31.03.2007.
8704.2000S 31.03.2007 C
Stock of Stationery O Rs.) (Rs.)
M 850
Credit on for
stationery 5,020 19,200 M
Advance paid for stationeryy
20 970
Amount paid for
stationery during 2006-07. was Rs. 25,800.3
5. F Sport club received Rs.
year 2006-2007 out of
25p80 as subscription during the P
year i.e.
whichRs. 1,000 relates to previous
R 2005-06 and Fs. T0) for next year i.e.. 2007-088 A
Suoscripuon in arrears at tne
d ot tha year
R were As. 2,000. Galcuiate ne anount of Subscription
19. 2005-0
to be R
translerred to income and oxRnditure account.
A T. Digtinguish betiween 11X9
R
arieeuating capitals.
Y 3. A a 3 are parrers siarn OE in ti9 ra:o 3f 2. A
Y Y
P
P P
R O
R
A
 LECOM
979773
7006197006*
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A A
The
Balance Sheet R
Canita of A, B
Liabilte S On 31.03andC whose
200nose share
rie
Creditors Rd share
P
es as under
profits
im
Capital Rs.
Capital
C's Capital
80 o ng 1.08
EO DOn
Sto
General Reserve Debtors 8,000
20 Less Provisinn 20,000 L
19.000
Cas 1.000
On the above 2,01.
folowing terms date B decided to 14,000
2,01.000
(a) retire from the firm C
Building to be O on tne
(D)
Provisions to appretiated ibv 20%. O
(C)
Machinery to besinereAVP t0,
be 15%.
()Captal deirëciated by 20%
of M
new
Prepare Revaluatioh firiis fixed at Rs. 1,20,000
.
Riza Ltd.
ot
accounpnd Capital account of new firm.
invited. aeplications
Hs. 100
each at for issuing 10,000 5
P
prerAim ot Rs. 20. perequity
a
whole amount shares
was
fuly subscribed. Passpayable on application. The share. The

Anu Ltd.
necepary jOurnal entries.
issue was A
R
forfeited 100 shards of Rs. 25
up, for each Rs. 20
non-payment
These shares of
alloent money Rs. 10 per called
R
were
journal entries. reissuéd at Rs. 18 share.
per share. Pass A
Journalise the Y
transaction given
() A below Y
debenture is issued at Rs. 95
(1) A
debenture is issued repayable at Rs. 100.
Rs.
P
95
repayable at Rs. 105.
P
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RRoll No. ****************
E-26-Y
Total No. of Questios (1-25)+(26-33)F(26-33) T
of Printed P'ages8
Eolal No. E
XIIRKN16 L
11026-Y E
ACCOUNTANCY C C
[Maximiim Marks : 80
Time: 3 Hours]
O O
student
for allhgstudents, itiaddition,
Note Part 'A' is compulsory M
Part B "or PartC and mark the
should opt for either

selected Part on the answer-sheet.

Part-P each
P
(Long Answer TxbQuestions)

ratio of 3:2 with

1. A and B are partners. Shati próf+ts in the
of Rs. 50,000 Rs. RO00 respectively.
Interest on R
capitals
allowed annual salary of
capital is agreed (@ 6%p.a. B is
te an

calculation
R
the fim prior to
Duringean15, the profits of
Rs. 2.500.
B's salary
amounted to A
of interest orrapital but after chkrging
maintained
is to be
Rs. 12,504A provision
of 5%o of he profits
Prepare
oI ruture contingencies before any appropriation.
in respea

allocation of Profits and Partner's Capital

an account showing
Accounts. P
-Teth over
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