Senior Secondary School Curriculum 2023-24

Class XI-XII

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March 2023, CBSE, Delhi

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Published by : Central Board of Secondary Education,

Academic Unit, Shiksha Sadan, 17, Rouse Avenue,
New Delhi-110002

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1. PRINCIPLES OF THE CBSE CURRICULUM

1.1 CBSE Curriculum

The curriculum in broad term reflects nation’s shared vision of education encompassing local, national
and global needs and expectations. Empirically, it may be regarded as the sum total of a planned set
of educational experiences provided to a learner by a school to attain stipulated competencies using
specified content, pedagogical practices and assessment guidelines etc. CBSE’s curriculum strives to
provide opportunities for students to achieve excellence in learning as envisioned in the National
Education Policy-2020.

1.2 Salient Features of the CBSE Secondary School Curriculum

The Curriculum prescribed by CBSE strives to:

i. provide ample scope for holistic i.e., physical, intellectual and social development of students;
ii. emphasize constructivist rather than rote learning by highlighting the importance of hands-
on experience;
iii. enlist general and specific teaching and assessment objectives to make learning competency-
based and attain mastery over laid down competencies;
iv. encourage the application of knowledge and skills in real-life problem-solving scenarios;
v. uphold the ‘Constitutional Values’ by encouraging values-based learning activities;
vi. promote 21st Century Skills, Life Skills, Financial Literacy, Digital Literacy, Health and Wellness,
Road Safety, Citizenship Education, Disaster Management and multilingualism;
vii. integrate innovations in pedagogy such as experiential, activity centered, joyful learning, Sport
and Art-Integrated Learning, toy-based pedagogy, storytelling, gamification etc. with
technological innovations (ICT integration) to keep pace with the global trends in various
disciplines;
viii. promote inclusive practices as an overriding consideration in all educational activities;
ix. enhance and support learning by different types of assessments; and
x. strengthen knowledge and attitude related to livelihood skills;
xi. foster multilingual and multicultural learning and national understanding in an
interdependent society;
xii. integrate environmental education in various disciplines from classes I- XII.

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 1.3 Curriculum Areas at Senior Secondary Level

For the purpose of fostering competences in learners, the curriculum encompasses seven major
learning areas, which are: Languages, Humanities, Mathematics, Sciences, Skill Subjects, General
Studies and Health and Physical Education. These areas are broadly divided into electives and
compulsory areas as detailed below: -

Language 1 Hindi Elective or Hindi Core or English Elective or English Core

Language 2/Subject 2 Any one Language OR Any one Academic Elective
Subject 3
Any three compulsory Electives from a pool of Academic and
Subject 4
Skill subjects
Subject 5
Any optional Elective from a pool of Languages, Academic
Language 3/Subject 6
and Skill subjects
Health and Physical Education
Work Experience Compulsory subjects having only internal assessment
General Studies

1.3.1 Elective Areas:

i. Languages include Hindi, English and other 34 languages. The curricula in languages focus on
listening, speaking, reading and writing skills for developing effective communicative proficiency
as learners use language to comprehend, acquire and communicate ideas.
ii. Humanities and Social Sciences- Geography, History, Economics, Home Science, Sociology, Fine
Arts, Political Science, and related subjects promote the learning of history and culture,
geographical environment, global institutions, constitutional values and norms, politics, economy,
interpersonal and societal interactions, civic responsibilities and the interplay of all these. Learners
appreciate and value every human’s right to feel respected and safe, and, in this regard, also
understand their Fundamental Rights and Duties and behave responsibly. Learners learn to be
tolerant and empathetic towards others through the study of these subjects.
iii. Sciences: Biology, Chemistry, Physics, Computer Science, and Informatics Practices help in making
students perceptive about matter and energy, nature, the environment, technological
breakthroughs in science. The focus is on knowledge and skills to develop a scientific attitude and
to use and apply such knowledge for improving the quality of life. The Curriculum promotes the
ability to engage with science related issues, and with the ideas of science, as a reflective citizen
by being able to explain phenomena scientifically, evaluate and design scientific enquiry, and
interpret data and evidence scientifically. Students understand the importance of to apply scientific

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 knowledge in the context of real-life situations and gain competencies that enable them to
participate effectively and productively in life.
iv. Mathematics includes acquiring the concepts related to numbers, operations, computation,
measurement, geometry, probability and statistics, the skill to calculate and organize and the
ability to apply this knowledge and acquired skills in their daily life. It also includes understanding
of the principles of reasoning and problem solving. Learners identify, integrate and apply numerical
and spatial concepts and techniques. They have clarity of concepts and are able to connect them
to the real world. Learners rationalize and reason about pre-defined arrangements, norms and
relationships in order to comprehend, decode, validate and develop relevant patterns.
v. Business and commerce-based electives- Business Studies, Accountancy, Entrepreneurship,
Economics and related subjects help in gaining understanding about core business disciplines. They
understand the concept like, the exchange of items of value or products between persons or
companies and the meaning / relevance/ significance of any such exchange of money for a product,
service, or information.
vi. Visual; Performing and Creative Arts- Subjects like Dance, Drama, Music, Heritage Crafts, Fine Arts,
Sculpture and related subjects aim to help learners cultivate an interest and appreciation for arts
and encourage them to enthusiastically participate in related activities, thus, promoting abilities
such as imagination, creativity, value arts, and the cultural heritage.
vii. Skill Electives help in development of professional competencies, which are analytical, applied and
outcome based. Undergoing skills training in schools can help students learn about a trade
progressively to create a product and also to become a problem solver in real life. At present many
Skill electives are being offered by the Board in the fields of Hospitality and Tourism, emerging
technology like Artificial Intelligence, Geospatial Technology, Finance, Business, and Retail and
Insurance etc. Students can also choose subject from diverse areas such as Fashion Design,
Agriculture, Banking, Mass-Media Healthcare and many more students.
viii. Health and Physical Education focuses on holistic development, both mental and physical,
understanding the importance of physical fitness, health, well-being and the factors that contribute
to them. Focus of this area is on helping learners develop a positive attitude and commitment to
lifelong, healthy active living and the capacity to live satisfying, productive lives with the help of
health management, indigenous sports, yoga, NCC, self-defense, fitness and lifestyle choices.

These learning areas are to be integrated with each other in terms of knowledge, skills (life and
livelihood), comprehension, values and attitudes. Learners should get opportunities to think
laterally, critically, identify opportunity, challenge their potential and be open to challenges.
Learner value and engage in practices that promote physical, cognitive, emotional and social

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 development and wellbeing. This enables learners to connect different areas of knowledge,
application and values with their own lives and the world around them. The holistic nature of
human learning and knowledge should be brought forth throughout.
ix. General Studies: The purpose of orienting students to General Studies is to develop in them an
appreciation for the holistic nature of knowledge. In contemporary times, familiarity with General
Studies is indispensable because at the senior school stage there is an element of specialization
due to which the students do not get exposed to some vital disciplines/areas of study that are not
covered in their specialized field. The documents with details of Health and Physical Education and
General Studies are available on www.cbseacademic.nic.in

2. IMPLEMENTATION OF CURRICULUM

2.1 School Curriculum Committee

The Board mandates that all schools must setup a School Curriculum Committee comprising teachers
from each curricular area. The School Curriculum Committee would define activities for pedagogical
practices, evolve a plan of assessment and mechanism of feedback and reflection and ensure its
implementation. The committee would also ensure that the textbooks/ reference materials are age
appropriate, incorporate inclusive principles, gender sensitive, have valid content and do not contain
any material which may hurt the sentiments of any community. The committee will then send the list
of books to the principal to take action as per para 2.4.7 (b) of the Affiliation Byelaws, 2018.The
committee would also ensure that the reference materials reflect conformity with the underlying
principles of the Constitution of India and are compliant with NCF-2005. Issues of gender, social,
cultural and regional disparities must be taken care of in the curriculum transaction.

2.2 Pedagogical Leadership

Principals have a crucial role in the evolution of the teaching- learning ecosystem as pedagogical leader
of their schools. As pedagogical leaders, they are expected to undertake the following:

i. Lead, Guide and Support the teaching and learning processes in the school by focusing on
classroom specific requirements for transacting the curriculum, so that both teachers and
students perform at their best.
ii. Direct the entire focus of all school activities towards the students’ learning and acquiring of
necessary competencies. Every activity taken up by the school, therefore, should be mapped for
the competencies, and for life skills, values, etc., being acquired by the students.
iii. Prepare Annual Pedagogical Plan of the school by designing and developing annual plan for the
school by giving equal importance to elective and compulsory areas.

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 iv. Promote innovative pedagogy, with special focus on integrating art, sports and ICT (Information
and Communication Technology) with education, and use active and experiential learning
methods in the classrooms.
v. Ensure joyful learning at all levels through use of such innovative pedagogy.
vi. Develop school specific resources for teaching and learning, in the form of lesson plans, e-
content, use of mathematics and science kits developed by NCERT, etc.
vii. Ensure proper in-house training of teachers in the school to enable them to unleash their own
unique capabilities and creativity in their classrooms.
viii. To be up to date with all new ideas and tools, etc. being used in education at the global level and
constantly innovate the pedagogy of the school.
ix. To make efforts to learn from the best practices of other schools, by arranging for discussions
with Principals of such schools, or through observation visits of teachers to other schools.

Respecting the autonomy of every school, the Board has not laid down the structure or format of the
annual pedagogical plan. A school needs to prepare its unique, implementable and innovative annual
plan. This plan must be with realistic timelines that should include administrative inputs and detailed
pedagogical aspects.

2.3 Pedagogical Practices by Teachers

The pedagogical practices should be learner centric. It is expected of a teacher to ensure an

atmosphere for students to feel free to ask questions. They would promote active learning among
students with a focus on reflections, connecting with the world around them, creating and
constructing knowledge. The role of a teacher should be that of a facilitator who would encourage
collaborative learning and development of multiple skills through the generous use of resources via
diverse approaches for transacting the curriculum.

Teachers should follow inclusive principles and not label children as ‘slow learners’ or ‘bright students’,
or ‘problem children’. They should instead attend to the individual difference of students by
diagnosing and modifying their pedagogic planning. As far as possible, Arts should be integrated in
teaching, especially while teaching the concept which students find difficult to understand.

2.4 Competency based Learning:

To face the challenges of 21st Century, education should be competency based and Principals as
Pedagogical Leaders must create conducive environment for development of competencies among
the students. Competency based Learning focuses on the student’s demonstration of desired learning
outcomes as central to the learning process. Learning outcomes are statements of abilities that are
expected students will gain as a result of learning the activity. Learning outcomes are, thus, statements

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of what a learner is expected to know, understand and/or be able to demonstrate after completion of
a process of learning. Therefore, the focus is on measuring learning through attainment of prescribed
learning outcomes, rather than on measuring time. Experiential and active learning are the
recommend pedagogies for Competency Based Learning. Experiential Learning promotes critical
thinking, creativity and effective study skills among students. Learning Outcomes suggested by NCERT
must be adopted by all the schools and teaching-learning process may be changed in the light of these
outcomes. The schools are expected to have well-defined Learning objectives mapped with the
stipulated learning outcomes for every grade that are observable and measurable, and empower
learners to focus on mastery of valuable skills and knowledge. It is expected that teachers will provide
meaningful and joyful learning experiences to the students by adopting variety of innovative
pedagogies or instructional activities and go beyond textbooks. Schools are expected to track the
attainment of Learning Outcomes in each learner and ensure that no child is left behind.

2.5 Lesson/ Unit Plan

Specific Lesson Plans for the topics are to be prepared by the teachers.

These plans may have the following parts:

2.6 Classroom and School Environment

School environment should be conducive for holistic development of the students. The school should
focus on health and hygiene by adopting inclusive practices. As part of the policy the school should
adopt practices which will promote mental health. In this direction, the schools may follow the
guidelines issued by the Board on making the school a No-Anger Zone or Anger Free Zone. The board
has developed school health manuals which are available on www.cbseacademic.nic.in. The time table

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in the school should take care of proper rest and intake of healthy foods and the children learn subjects
with relaxation. School must also ensure that Children avoid the intake of junk food and should ban it
around school premises. Intake of the healthy foods should be encouraged with activities described
in circular issued by CBSE.

The surroundings and daily life activities and situations are the best experiential teachers for the
students. Teachers must make efforts to draw examples and group activities from daily life
observations within the classroom/within the school and surroundings, and encourage presentations
and reflection by the students once the activity is completed, to develop the skills of critical thinking
and communication.

Children learn a lot through peer learning. To promote peer learning, flexible seating arrangements
may be made available during the classroom transactions. The seating should also take care of the
needs of the students with disabilities as well. Learning should focus on individual differences and
promote collaborative learning. The classroom activities must be connected to the immediate
environment of children. The school should maintain connection with the parents and the progress of
children should be communicated to the parents, and, if needed remedial measures be taken up for
improving the learning outcomes.

2.7 Creating Cross-Curricular Linkages

Creating cross-curricular linkages are vital to learning as they help to connect prior knowledge with
new information. For example, Mathematical data handling and interpretation can be effectively
applied in geography and science. Children can write better-framed answers in history, geography and
science when they have learnt how to write explanations/ short descriptions in a language. Similarly,
Life Skills like empathy, problem solving and interpersonal communications can be easily integrated
with the study of literature and other areas. Universal Values, Life Skills and Constitutional Values with
emphasis on realization of Fundamental Duties may be incorporated depending upon context in
almost all the subjects.

2.8 Special emphasis on Integrating Arts in education:

All disciplines being pursued by students at all stages require creative thinking and problem-solving
abilities. Therefore, when Art is integrated with education, it helps the child apply art-based enquiry,
investigation and exploration, critical thinking and creativity for a deeper understanding of the
concepts/topics. Secondly, Art Integrated learning is a strong contender for experiential learning, as it
enables the student to derive meaning and understanding, directly from the learning experience.
Thirdly, this kind of integration not only makes the teaching and learning process joyful, it also has a
positive impact on the development of certain life skills, such as, communication skills, reflection and

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enquiry skills, un-conditioning of the mind leading to higher confidence levels and self-esteem,
appreciation for aesthetics and creativity, etc. Fourthly, this kind of integration broadens the mind of
the student, and enables him/her to see the multi-disciplinary links between subjects, topics, and real
life. Schools are, thus, required to take up the integration of Art with the teaching learning process.

It must be understood that Art Education and Art Integrated Education may be mutually exclusive, but
they build upon each other and strengthen each other. Art Education is not only relevant for
developing creativity and appreciation of art among students, but is also necessary for inculcating art
based enquiry skills in the students. Art Education is a necessary precursor for the adoption of Art
Integrated learning.

2.8.1 Art Education and Art Integration:

The following two-pronged approach is followed during a session:

i. Art education continues to be an integral part of the curriculum, as a compulsory area at

Secondary level. The schools may also promote and offer Visual and Performing Arts based
subjects at the Secondary and Senior Secondary level.
ii. Art needs to be integrated with the teaching and learning process of all subjects from classes 1
to 12, to promote active and experiential learning for “connecting knowledge to life outside the
school, ensuring that learning shifts away from rote methods and for enriching the curriculum, so
that it goes beyond textbooks.”

2.8.2 Art Integrated Pedagogy:

While preparing its annual pedagogical plan under the leadership of the principal of the school, the
school must plan out in detail the Art Education to be imparted at various levels, and how that Art can
be integrated with classroom learning of various subjects. The focus must be on mutually reinforcing
Art as a subject and Art as a tool for learning, with efforts towards seamless integration. Team teaching
(combination of subject teachers and Art teachers) would also strengthen the integration.

For implementing this in classrooms, the subject teacher picks the topic/ concept/idea that she wants
to teach by integrating art. The teacher can do this jointly with the Art teacher too. Then, the subject
teacher collaborates with the Art teacher to align the pedagogy. Next, the teacher teaches the
topic/concept/idea ensuring active learning and ensuring that both the subject and Art are integrated
well and there is learning in both areas. Finally, the teacher prepares a rubric to assess the student in
both the areas – that is, the topic taught and the Art used.

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2.9 21st Century Skills:

There is an increased awareness among the educators of the need to integrate what are called as 21st
Century skills in educational systems. There are three key 21st century skills i.e. Learning Skills, Literacy
Skills and Life Skills.

Learning skills include:

Literacy skills include:

Life skills include:

Schools must focus on enhancing the skills required for a successful adult life in 21st Century. It is
important that the students are able to think scientifically, mathematically or artistically to face the
real-life challenges in an information and technology driven world and enhance their inherent
potential. CBSE has published a handbook on 21st century skills available at its website. Schools may
further refer to it.

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2.10 Inclusive Education:
Inclusive approach in education is a prerequisite for ensuring full participation of all students with
equal opportunity in all areas without any discrimination. Inclusive attitude in all staff and faculty
members is crucial for successful inclusive education. Therefore, all the members of teaching and non-
teaching staff should be sensitized on the issues of inclusive education. Students without disabilities
should also be sensitized.

Schools must organize these sensitization programmes with the support of experts from respective
field of disabilities. Capacity Building Programmes on Inclusive Education may be organized in
collaboration with the CBSE Centres of Excellence. Board has made the appointment of special
educator mandatory to all the schools affiliated to the CBSE. Special Educators must possess the
qualification as prescribed by the Rehabilitation Council of India. (CBSE Circular No. 31/2015). CBSE
has published a handbook on Inclusive Education available at its website.

3. SCHEME OF STUDIES

Class XI and XII is a composite course. Students need to take only those subjects in class XI which
he/she intends to continue in class-XII. Students can offer a minimum of 5 or more subjects in class XI.
They need to continue the same subjects in class XII.

3.1 Combination of Subjects: Subjects can be offered as under:

Subject Name of Subjects

Hindi Elective or Hindi Core or English Elective
Subject 1
or English Core
Any one Language from Group – L not opted as
Subject 1
Subject 2
OR
Compulsory Any one Elective from the Group – A
Any three electives either from Group – A Or
Subject 3 Group-S
Subject 4, and OR
Subject 5 Any three from Combination of Group – A and
Group – S
Additional Any one elective or Language from any subject
Subject 6
Subject Optional group

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 Subjects of Subject 7 to 9 (to be
Health and Physical Education, Work
Internal taken by all Regular
Experience, General Studies
Assessment Candidates)

Explanation

i. Hindi or English must be one of the two languages to be studied in class XI and XII. Hindi and
English can also be offered simultaneously. In Hindi and English, two courses have been
provided for class XI and XII keeping in view the varying backgrounds of the students and a
student may either opt Hindi Elective (Code 002) or Hindi Core (Code 302) or English Elective
(Code-001) or English Core (Code-301). The same language cannot be offered both at Core
and Elective levels. In addition to above, the following combinations cannot be taken together;
a) Business Studies (Code 054) and Business Administration (Code 833)
b) Out of three Computer Science/IT related subjects i.e., Informatics Practices (065),
Computer Science (Code 083), Information Technology (Code 802), a candidate can
opt only for one subject.
c) Mathematics (Code 041) and Applied Mathematics (Code 241)
ii. The first 5 subjects in the chronological order of filling the subjects in the online registration
system/ Mark Sheet are considered as Main subjects.
iii. A candidate can also offer an additional elective which may either be a language at elective
level or, any other elective subject.
iv. While transacting the Curriculum, due emphasis should be laid on National Identity, 21st
Century Skills and Values Education. Schools are expected to draw their own programmes in
this area in accordance with the guidelines given from time to time by the Board. Likewise,
programmes in General Studies and Health and Physical Education be planned in accordance
with the guidelines brought out by the Board.
Board issues mark sheet cum certificate indicating marks obtained in each subject separately.
No aggregate score/percentage is mentioned by the Board. Candidates who take 6/7 subjects
and pass in all 6/7 subjects, the percentage is to be calculated according to the norms of
college/institution in which the candidate is seeking admission.
v. If a student has taken 6th subjects, and if he/she fails in any one of first five subjects, the same
will be replaced by the 6th subject provided the candidate satisfies the scheme of studies i.e.,
after replacement either Hindi or English remains as one of the main five subjects.
vi. Skill electives can be offered along with any subject, as per the scheme of studies.

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vii. Board is extending several exemptions/concessions to candidates with disabilities as defined
in the “THE RIGHTS OF PERSONS WITH DISABILITIES ACT 2016”. Exemptions/Concessions
extended to Persons with Benchmark Disabilities for Classes XI and XII Examinations
conducted by schools and the Board and the Standard Operating Procedure for availing these
concessions are available on:
https://www.cbse.gov.in/cbsenew/Examination_Circular/2019/5_ CIRCULAR.pdf Schools
and candidates may also refer to the circulars issued by the Board from time to time on this
matter.
viii. For Regional Languages, the Board prescribes the textbooks being followed in classes XI and
XII in the respective State Boards where the language is taught. Schools are also advised to
bring to the notice of CBSE the changes in the textbooks, if any, brought out by the respective
State Boards at the commencement of the session. Schools are also directed to strictly follow
the textbooks prescribed by CBSE in its curriculum. Changes, if any, can be adopted only when
CBSE notifies them. School will be responsible for any issue arising out of School not following
Boards’ directives.

LIST OF SUBJECTS
Languages (Group – L)
Sl no. CODE Name Theory Practical IA
001 English Elective 080 ---- 020
1 Any One
301 English Core 080 ---- 020
002 Hindi Elective 080 ---- 020
2 Any One
302 Hindi Core 080 ---- 020
003 Urdu Elective 080 ---- 020
3 Any One
303 Urdu Core 080 ---- 020
022 Sanskrit Elective 080 ---- 020
4 Any One
322 Sanskrit Core 080 ---- 020
5 104 Punjabi 080 ---- 020
6 105 Bengali 080 ---- 020
7 106 Tamil 080 ---- 020
107 Telugu 080 ---- 020
8 Any One
189 Telugu Telangana 080 ---- 020
9 108 Sindhi 080 ---- 020
10 109 Marathi 080 ---- 020

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11 110 Gujarati 080 ---- 020
12 111 Manipuri 080 ---- 020
13 112 Malayalam 080 ---- 020
14 113 Odia 080 ---- 020
15 114 Assamese 080 ---- 020
16 115 Kannada 080 ---- 020
17 116 Arabic 080 ---- 020
18 117 Tibetan 080 ---- 020
19 118 French 080 ---- 020
20 120 German 080 ---- 020
21 121 Russian 080 ---- 020
22 123 Persian 080 ---- 020
23 124 Nepali 080 ---- 020
24 125 Limboo 080 ---- 020
25 126 Lepcha 080 ---- 020
26 188 Bhoti 080 ---- 020
27 191 Kokborok 080 ---- 020
28 192 Bodo 080 ---- 020
29 193 Tanghkhul 080 ---- 020
30 194 Japanese 080 ---- 020
31 195 Bhutia 080 ---- 020
32 196 Spanish 080 ---- 020
33 197 Kashmiri 080 ---- 020
34 198 Mizo 080 ---- 020
Academics Electives (Group-A)
S.NO. Code Name Theory Practical IA
1 027 History 080 -- 020
2 028 Political Science 080 -- 020
3 029 Geography 070 030 --
4 030 Economics 080 -- 020
031 Carnatic Music Vocal 030 050 020
5 032 Carnatic Per. Mer. Ins. Any One 030 050 020
033 Carnatic Per. Ins. Mridangam 030 050 020

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 034 Hindustani Music Vocal 030 050 020
035 Hindustani Music Mel. Ins. 030 050 020
036 Hindustani Per. Ins. 030 050 020
6 037 Psychology 070 030 ---
7 039 Sociology 080 -- 020
8 041 Mathematics 080 -- 020
Any One
214* Applied Mathematics 080 -- 020
9 042 Physics 070 030 --
10 043 Chemistry 070 030 --
11 044 Biology 070 030 --
12 045 Biotechnology 070 030 --
13 046 Engineering Graphics 070 030 --
14 048 Physical Education 070 030 --
15 049 Painting 030 070 --
050 Graphics 030 070 --
Any One
051 Sculpture 030 070 --
052 Applied/Commercial Art 030 070 --
16 054 Business Studies 080 -- 020
17 055 Accountancy 080 -- 020
056 Kathak-Dance 030 070 --
057 Bharatnatyam Dance 030 070 --
058 Kuchipudi-Dance 030 070 --
18 Any One
059 Odissi – Dance 030 070 --
060 Manipuri – Dance 030 070 --
061 Kathakali – Dance 030 070 --
19 064 Home Science 070 030 --
065 Informatics Practices 070 030 --
20 Any One
083 Computer Science 070 030 --
21 066 Entrepreneurship 070 -- 030
22 073 Knowledge Tradition and Practices of India 070 -- 030
23 074 Legal Studies 080 -- 020
24 076 National Cadet Corps (NCC) 070 030 --

Skills Elective (Group – S)

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 S Sub. Marks Distribution
Course Name Job Roles
No. Code Theory Practical
1 801 Retail Sales Associate 60 40
2 802 Information Technology IT Help Desk Assistant 60 40
3 803 Web Application Web Developer 60 40
Automotive Service
4 804 Automotive 60 40
Technician
Financial Markets Equity Dealer/Mutual Fund
5 805 60 40
Management Agent
6 806 Tourism Tour Guide 60 40
7 807 Beauty and Wellness Beauty Therapist 60 40
Agriculture Extension
8 808 Agriculture 60 40
Worker
9 809 Food Production Trainee Commie 60 40
10 810 Front Office operations Counter Sales Executive 60 40
Sales Executive (Banking
11 811 Banking 60 40
Product)
12 812 Marketing Marketing Executive 60 40
13 813 Health Care General Duty Assistant 60 40
14 814 Insurance Sales Executive (Insurance) 60 40
Floriculturist
15 816 Horticulture 60 40
(Protected)/Entrepreneur
Typography and
16 817 Executive Assistant 60 40
Computer Application
17 818 Geospatial Technology GIS Operator 60 40
Field Technician – Other
18 819 Electrical Technology 60 40
Home
19 820 Electronic Technology Installation Technician 60 40
20 821 Multi-media Animator 50 50
Assistant Tax
21 822 Taxation Consultant/GST Accounts 60 40
Assistant
22 823 Cost Accounting JR. Accountant 60 40

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 Office Procedures and
23 824 Executive Assistant 60 40
Practices
24 825 Shorthand (English) Stenographer 60 40
25 826 Shorthand (Hindi) Stenographer 60 40
Air-Conditioning and
26 827 Services Technician 60 40
Refrigeration
27 828 Medical Diagnostics Medical Lab Technician 60 40
Design Assistant (Apparel /
28 829 Textile Design 60 40
Textile)
29 830 Design Assistant Designer 50 50
30 831 Salesmanship Sales Executive 60 40
Business
31 833 Business Executive 60 40
Administration
Food Nutrition and
32 834 Assistant Dietician 60 40
Dietetics
33 835 Mass Media Studies Media Assistant 60 40
Library and Information
34 836 Library Assistant 60 40
Science
35 837 Fashion Studies Assistant Fashion Designer 60 40
36 841 Yoga Yoga Instructor 50 50
Early Childhood Care
37 842 Early Childhood Educator 50 50
and Education
Artificial Intelligence
38 843 50 50
(New)
39 844 Data Science 50 50
Physical Activity Trainer Primary Years Physical
40 845 50 50
(NEW) Activity Facilitator
Land Transportation Land Transportation
41 846 50 50
Associate (NEW) Associate
Electronics and Installation Technician –
42 847 60 40
Hardware (NEW) Computing and Peripherals
Design Thinking and
43 848 50 50
Innovation (NEW)

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The curriculum and the study material for the Skill Electives are available on the CBSE academic
website under the tab ‘Skill Education’ and can be accessed through the link:
http://cbseacademic.nic.in/skill-education.html.

3.2 Medium of Instruction

The medium of instruction in general in all the schools affiliated with the Board shall either be Hindi
or English.

4. STRUCTURE OF ASSESSMENT SCHEME

The Assessment scheme will have theory, internal assessment, or practical components as per syllabus
given for each subject. Board shall conduct Annual examinations for class XII

As the Board is progressively allowing more space to 'learning outcome based' assessment in place of
textbook driven assessment, question papers of Board examinations will have more questions based
on real-life situations requiring students to apply, analyse, evaluate and synthesize information as per
the stipulated outcomes. The core-competencies to be assessed in all questions, however, will be from
the prescribed syllabus and textbooks recommended therein. This will eliminate predictability and
rote learning to a large extent.

4.1 Annual Examination:

For Class XII

The Board Examination will cover the entire syllabus of Class-XII as per syllabus for each subject.
Grades shall be awarded on the basis of 9-point grading system in each elective subject. For awarding
the grades, the Board will put all the passed students in a rank order and will award the grades as
follows:

A-1 Top 1/8th of the passed candidates

A-2 Next 1/8th of the passed candidates
B-1 Next 1/8th of the passed candidates
B-2 Next 1/8th of the passed candidates
C-1 Next 1/8th of the passed candidates
C-2 Next 1/8th of the passed candidates
D-1 Next 1/8th of the passed candidates
D-2 Next 1/8th of the passed candidates
E* *Essential Repeat

Notes: -

21
 i. Minor variations in proportion of candidates to adjust ties will be made.
ii. In case of a tie, all the students getting the same score will get the same grade. If the number
of students at a score point needs to be divided into two segments, the smaller segment will
go with the larger.
iii. Method of grading will be used in subjects where the number of candidates who have passed
is more than 500.
iv. In respect of subjects where the total number of candidates passing as subject is less than 500,
the grading would be adopted on the pattern of grading and distribution in other similar
subjects.

For Class XI:

The assessment scheme will be similar to class XII Board examination and shall be carried out at school
level. However, the grading in class XI will be as follows:

Grading Scale for Elective Areas (Class-XI)

(School will award grades as per the following grading scale)
MARK RANGE GRADE
91-100 A1
81-90 A2
71-80 B1
61-70 B2
51-60 C1
41-50 C2
33-40 D
32 and below *Essential Repeat

Absolute grading is suggested for class XI keeping in view the number of students appearing from any
particular school as against positional grading used for class XII.

4.2 Internal Assessment:

Internal Assessment in different subjects will be as per details given in the syllabus for each subject.

4.3 Assessment of Compulsory Areas

Assessment of compulsory Areas may be continuously done by collecting information, reflecting on

and using that information to review children’s progress and to plan future learning experiences. The

22
documented data, after interpretation, should be reflected in the Report Card of the children in the
form of grades.

In the existing scheme of assessment, these activities will be graded on a 8-point grading scale (A1 to
E) for classes XI –XII and will have no descriptive indicators. The students shall be assessed on three
areas i.e., Health and Physical Education with Work Experience and General Studies. Work Experience
is subsumed in the Health and Physical Education. No up scaling of grades will be done.

The concerned teacher would make an objective assessment of the level of performance/
participation demonstrated by a student throughout the academic year and finally assign grades.

4.3.1 Parameters of Assessment -

Marks and grades on the basis of 9-point grading system may be awarded in each compulsory area
(General Studies, Health and Physical Education) for classes XI and XII as detailed below:

Grading for General Studies:

Grade Octile
A1 Top1/8th of the passed candidates
A2 Next 1/8th of the passed candidates
B1 Next 1/8th of the passed candidates
B2 Next 1/8th of the passed candidates
C1 Next 1/8th of the passed candidates
C2 Next 1/8th of the passed candidates
D1 Next 1/8th of the passed candidates
D2 Next 1/8th of the passed candidates
E

Distribution of Periods/ Grades for Internal Assessment in Health and Physical Education (with Work
Experience subsumed in it)

Stand Period (Approx.) Grades*

1. GAMES
a) Athletics/ Swimming
b) Team Games
c) Individual Games/ Activity
d) d) Adventure Sports
While filling online data, following
grades may be filled against HPE
90 Periods
Class XI-XII: Grade (A-E) on 9-point
scale

23
 (A1,A2,B1,B2,C1,C2,D1,D2,E)
2. Health and Fitness 50 Periods
While filling online data, following
grades of SEWA shall be filled against
Work Education
/ Work Experience:
3. SEWA 50 Periods
Class XI-XII: Grade (A-E) on 9-point
scale

(A1, A2, B1,B2,C1,C2,D1,D2,E)

4. Health and Activity Card 10 Periods - Enclosed Separately
200 Periods
Total -
(Approx.)

* Refer the detailed HPE guidelines available on www.cbseacademic.nic.in with the amendment given
above.

4.4 Design of the Question Paper for Board examination:

To ensure flexibility in the assessment at Board examination, the detailed design of the paper is not
included in the curriculum document. The details of design of the Q.P shall be subsequently notified
with the sample question paper. However, the Board examination shall test as per weightage allocated
to each area or unit given in the respective subject.

4.5 Development of competencies through Student Enrichment activities:

In the recent pas board has been organizing various activities for promoting various 21st century skills.
Following are some such activities introduced with the intention of enhancement of the skills and
values.

Sl. No. Student Enrichment Activity Skills/Values to be Enhanced

1 Story Telling Competition • Thinking Skills: Creative, Analytical,
2 Reading Week Evaluative
• Communication Skills
3 Fastest Reading Contest
• Linguistic Skills

24
 • Reasoning Abilities
• Problem Solving Skills
• Critical thinking
4 Aryabhata Ganit Challenge • Analytical thinking
• Ability to manipulate precise and intricate
ideas
• Ability to construct logical arguments
• Values of respect for diversity and
tolerance
• Awareness about preserving Indian
5 CBSE Heritage India Quiz heritage and monuments
• Critical thinking skills
• Appreciation for rich heritage and diversity
of the country
6 Science Exhibition • Critical and Creative Thinking Skills
• Problem Solving Skills
7 Science Literacy Promotion Test • Scientific Temperament
• Connecting Science to day to day life
• Creative Thinking Skills
8 Expression Series
• Communication Skills
9 Eco-Club Activities • Awareness about Environmental
Conservation and Protection
10 Swachhta Abhiyan
• Cleanliness Habits
11 Ek Bharat Shrestha Bharat
• Spirit of Patriotism and Unity
12 Rashtriya Ekta Diwas
• Creative Skills
13 Inter School Band Competition
14 Fit India School Week • Healthy life style
CBSE Inter-School Sports and Games
15 • Attention and concentration powers
Competitions
16 International Day of Yoga
• Awareness of Linguistic and Cultural
17 Matri Bhasha Diwas traditions
• Values of Tolerance and Dialogue

25
 • Communication Skills
Addition in the last table in both the Senior secondary and Secondary Curriculum
• Importance of Constitution, its history,
structure and implications to citizens
orientation to composite culture and
18 The Constitution Day
diversity of our nation awareness of
Fundamental Rights and Duties as
enshrined in the Indian Constitution.

Schools are encouraged to participate in these activities of the Board for making students future ready.

4.5.1 Rules regarding Admission and Examination

Regarding eligibility for Admission, Eligibility for Examination, Scheme of Examination and related
information, please see the Examination Bye-Laws of CBSE available on www.cbse.nic.in

*********

26
 ACCOUNTANCY (Code No. 055)

Rationale

The course in accountancy is introduced at plus two stage of senior second of school education,
as the formal commerce education is provided after ten years of schooling. With the fast
changing economic scenario, accounting as a source of financial information has carved out a
place for itself at the senior secondary stage. Its syllabus content provide students a firm
foundation in basic accounting concepts and methodology and also acquaint them with the
changes taking place in the preparation and presentation of financial statements in accordance
to the applicable accounting standards and the Companies Act 2013.

The course in accounting put emphasis on developing basic understanding about accounting as
an information system. The emphasis in Class XI is placed on basic concepts and process of
accounting leading to the preparation of accounts for a sole proprietorship firm. The students
are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the
business transactions. The accounting treatment of GST is confined to the syllabus of class XI.

The increased role of ICT in all walks of life cannot be overemphasized and is becoming an
integral part of business operations. The learners of accounting are introduced to Computerized
Accounting System at class XI and XII. Computerized Accounting System is a compulsory
component which is to be studied by all students of commerce in class XI; whereas in class XII
it is offered as an optional subject to Company Accounts and Analysis of Financial Statements.
This course is developed to impart skills for designing need based accounting database for
maintaining book of accounts.

The complete course of Accountancy at the senior secondary stage introduces the learners to
the world of business and emphasize on strengthening the fundamentals of the subject.

Objectives:
1. To familiarize students with new and emerging areas in the preparation and presentation
of financial statements.
2. To acquaint students with basic accounting concepts and accounting standards.
3. To develop the skills of designing need based accounting database.
4. To appreciate the role of ICT in business operations.
5. To develop an understanding about recording of business transactions and preparation
of financial statements.
6. To enable students with accounting for Not-for-Profit organizations, accounting for
Partnership Firms and company accounts.
 Accountancy (Code No.055)
Course Structure
Class-XI (2023-24)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Periods Marks
Part A: Financial Accounting-1
Unit-1: Theoretical Framework 25 12
Unit-2: Accounting Process 115 44
Part B: Financial Accounting-II
Unit-3: Financial Statements of Sole Proprietorship 60 24

Part C: Project Work 20 20

PART A: FINANCIAL ACCOUNTING - I

Unit-1: Theoretical Frame Work

Units/Topics
Introduction to Accounting
 Accounting- concept, meaning, as a source
of information, objectives, advantages and
limitations, types of accounting information;
users of accounting information and their
needs. Qualitative Characteristics of
Accounting Information. Role of Accounting in
Business.
 Basic Accounting Terms- Entity, Business
Transaction, Capital, Drawings. Liabilities
(Non Current and Current). Assets (Non
Current, Current); Expenditure (Capital and
Revenue), Expense, Revenue, Income,
Profit, Gain, Loss, Purchase, Sales, Goods,
Stock, Debtor, Creditor, Voucher, Discount
(Trade discount and Cash Discount)
Theory Base of Accounting
 Fundamental accounting assumptions:
GAAP: Concept
 Basic Accounting Concept : Business Entity,
Learning Outcomes
After going through this Unit, the students will be
able to:
 describe the meaning, significance,
objectives, advantages and limitations of
accounting in the modem economic
environment with varied types of business
and non-business economic entities.
 identify / recognise the individual(s) and
entities that use accounting information for
serving their needs of decision making.
 explain the various terms used in accounting
and differentiate between different related
terms like current and non-current, capital
and revenue.
 give examples of terms like business
transaction, liabilities, assets, expenditure
and purchases.
 explain that sales/purchases include both
cash and credit sales/purchases relating to
the accounting year.
 Money Measurement, Going Concern,
Accounting Period, Cost Concept, Dual
Aspect, Revenue Recognition, Matching, Full
Disclosure, Consistency, Conservatism,
 Materiality and Objectivity
 System of Accounting. Basis of Accounting:
cash basis and accrual basis
 Accounting Standards: Applicability of
Accounting Standards (AS) and Indian
Accounting Standards (IndAS)
 Goods and Services Tax (GST):
Characteristics and Advantages.
Unit-2: Accounting Process
Units/Topics
Recording of Business Transactions
 Voucher and Transactions: Source
documents and Vouchers, Preparation of
Vouchers, Accounting Equation Approach:
Meaning and Analysis, Rules of Debit and
Credit.
 Recording of Transactions: Books of Original
Entry- Journal
 Special Purpose books:
 Cash Book: Simple, cash book with bank
column and petty cashbook
 differentiate among income, profits and gains.
 state the meaning of fundamental accounting
assumptions and their relevance in
accounting.
 describe the meaning of accounting
assumptions and the situation in which an
assumption is applied during the accounting
process.
 explain the meaning, applicability, objectives,
advantages and limitations of accounting
standards.
 appreciate that various accounting standards
developed nationally and globally are in
practice for bringing parity in the accounting
treatment of different items.
 acknowledge the fact that recording of
accounting transactions follows double entry
system.
 explain the bases of recording accounting
transaction and to appreciate that accrual
basis is a better basis for depicting the
correct financial position of an enterprise.
 Explain the meaning, advantages and
characteristic of GST.
Learning Outcomes
After going through this Unit, the students will be
able to:
 explain the concept of accounting equation
and appreciate that every transaction affects
either both the sides of the equation or a
positive effect on one item and a negative
effect on another item on the same side of
accounting equation.
 explain the effect of a transaction (increase or
decrease) on the assets, liabilities, capital,
revenue and expenses.
  Purchases book
 Sales book
 Purchases return book
 Sales return book
 Journal proper
Note: Including trade discount, freight and cartage
expenses for simple GST calculation.
 Ledger: Format, Posting from journal and
subsidiary books, Balancing of accounts
Bank Reconciliation Statement:
 Need and preparation, Bank Reconciliation
Statement
Depreciation, Provisions and Reserves
 Depreciation: Meaning, Features, Need,
Causes, factors
 Other similar terms: Depletion and
Amortisation
 Methods of Depreciation:
i. Straight Line Method (SLM)
ii. Written Down Value Method (WDV)
Note: Excluding change of method
 Difference between SLM and WDV;
Advantages of SLM and WDV
 Method of recoding depreciation
i. Charging to asset account
ii. Creating provision for
depreciation/accumulated depreciation
account
 Treatment of disposal of asset
 Provisions, Reserves, Difference Between
Provisions and Reserves.
 Types of Reserves:
i. Revenue reserve
ii. Capital reserve
iii. General reserve
iv. Specific reserve
v. Secret Reserve
 Difference between capital and revenue
reserve
 appreciate that on the basis of source
documents, accounting vouchers are
prepared for recording transaction in the
books of accounts.
 develop the understanding of recording of
transactions in journal and the skill of
calculating GST.
 explain the purpose of maintaining a Cash
Book and develop the skill of preparing the
format of different types of cash books and
the method of recording cash transactions in
Cash book.
 describe the method of recording
transactions other than cash transactions as
per their nature in different subsidiary books .
 appreciate that at times bank balance as
indicated by cash book is different from the
bank balance as shown by the pass book /
bank statement and to reconcile both the
balances, bank reconciliation statement is
prepared.
 develop understanding of preparing bank
reconciliation statement.
 appreciate that for ascertaining the position of
individual accounts, transactions are posted
from subsidiary books and journal proper into
the concerned accounts in the ledger and
develop the skill of ledger posting.
 explain the necessity of providing
depreciation and develop the skill of using
different methods for computing depreciation.
 understand the accounting treatment of
providing depreciation directly to the
concerned asset account or by creating
provision for depreciation account.
 appreciate the method of asset disposal
through the concerned asset account or by
preparing asset disposal account.
 appreciate the need for creating reserves and
Trial balance and Rectification of Errors
 Trial balance: objectives, meaning and
preparation
(Scope: Trial balance with balance method only)
 Errors: classification-errors of omission,
commission, principles, and compensating;
their effect on Trial Balance.
 Detection and rectification of errors;
(i) Errors which do not affect trial balance
(ii) Errors which affect trial balance
 preparation of suspense account.
Part B: Financial Accounting - II
Unit 3: Financial Statements of Sole Proprietorship
Units/Topics
Financial Statements
Meaning, objectives and importance; Revenue and
Capital Receipts; Revenue and Capital Expenditure;
Deferred Revenue expenditure. Opening journal
entry. Trading and Profit and Loss Account: Gross
Profit, Operating profit and Net profit. Preparation.
Balance Sheet: need, grouping and marshalling of
assets and liabilities. Preparation. Adjustments in
preparation of financial statements with respect to
closing stock, outstanding expenses, prepaid
expenses, accrued income, income received in
advance, depreciation, bad debts, provision for
doubtful debts, provision for discount on debtors,
Abnormal loss, Goods taken for personal use/staff
welfare, interest on capital and managers
commission. Preparation of Trading and Profit and
Loss account and Balance Sheet of a sole
proprietorship with adjustments.
also making provisions for events which may
belong to the current year but may happen in
next year.
 appreciate the difference between reserve
and reserve fund.
 state the need and objectives of preparing
trial balance and develop the skill of
preparing trial balance.
 appreciate that errors may be committed
during the process of accounting.
 understand the meaning of different types of
errors and their effect on trial balance.
 develop the skill of identification and location
of errors and their rectification and
preparation of suspense account.
Learning Outcomes
After going through this Unit, the students will be
able to:
 state the meaning of financial statements the
 purpose of preparing financial statements.
 state the meaning of gross profit, operating
profit and net profit and develop the skill of
preparing trading and profit and loss account.
 explain the need for preparing balance sheet.
 understand the technique of grouping and
marshalling of assets and liabilities.
 appreciate that there may be certain items
other than those shown in trial balance which
may need adjustments while preparing
financial statements.
 develop the understanding and skill to do
adjustments for items and their presentation
in financial statements like depreciation,
closing stock, provisions, abnormal loss etc.
 develop the skill of preparation of trading and
profit and loss account and balance sheet.
Incomplete Records
Features, reasons and limitations.
Ascertainment of Profit/Loss by Statement of Affairs
method. (excluding conversion method)

Part C: Project Work (Any One)

1. Collection of source documents, preparation of vouchers, recording of transactions with the help of vouchers.
2. Preparation of Bank Reconciliation Statement with the given cash book and the pass book with twenty to
twenty-five transactions.
3. Comprehensive project of any sole proprietorship business. This may state with journal entries and their
ledgering, preparation of Trial balance. Trading and Profit and Loss Account and Balance Sheet. Expenses,
incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram. This may
include simple GST related transactions.
 PROJECT WORK

It is suggested to undertake this project after completing the unit on preparation of financial statements. The
student(s) will be allowed to select any business of their choice or develop the transaction of imaginary
business. The project is to run through the chapters and make the project an interesting process. The amounts
should emerge as more realistic and closer to reality.

Specific Guidelines for Teachers

Give a list of options to the students to select a business form. You can add to the given list:
1. A beauty parlour 10. Men's wear 19. A coffee shop
2. Men's saloon 11. Ladies wear 20. A music shop
3. A tailoring shop 12. Kiddies wear 21. A juice shop
4. A canteen 13. A Saree shop 22. A school canteen
5. A cake shop 14. Artificial jewellery shop 23. An ice cream parlour
6. A confectionery shop 15. A small restaurant 24. A sandwich shop
7. A chocolate shop 16. A sweet shop 25. A flower shop
8. A dry cleaner 17. A grocery shop
9. A stationery shop 18. A shoe shop

After selection, advise the student(s) to visit a shop in the locality (this will help them to settle on a realistic
amounts different items. The student(s) would be able to see the things as they need to invest in furniture,
decor, lights, machines, computers etc.

A suggested list of different item is given below.

1. Rent 19. Wages and Salary
2. Advance rent [approximately three months] 20. Newspaper and magazines
3. Electricity deposit 21. Petty expenses
4. Electricity bill 22. Tea expenses
5. Electricity fitting 23. Packaging expenses
6. Water bill 24. Transport
7. Water connection security deposit 25. Delivery cycle or a vehicle purchased
8. Water fittings 26. Registration
9. Telephone bill 27. Insurance
10. Telephone security deposit 28. Auditors fee
11. Telephone instrument 29. Repairs & Maintenance
12. Furniture 30. Depreciations
13. Computers 31. Air conditioners
14. Internet connection 32. Fans and lights
15. Stationery 33. Interior decorations
16. Advertisements 34. Refrigerators
17. Glow sign 35. Purchase and sales
18. Rates and Taxes

At this stage, performas of bulk of originality and ledger may be provided to the students and they may be
asked to complete the same.

In the next step the students are expected to prepare the trial balance and the financial statements.
 Suggested Question Paper Design
Accountancy (Code No. 055)
Class XI (2023-24)
Theory: 80 Marks 3 hrs.
Project: 20 Marks

S
N Typology of Questions Marks Percentage
1 Remembering and Understanding:
Exhibit memory of previously learned material by recalling facts, terms, basic concepts,
and answers.
44 55%
Demonstrate understanding of facts and ideas by organizing, comparing, translating,
interpreting, giving descriptions, and stating main ideas

3 Applying: Solve problems to new situations by applying acquired knowledge, facts,

techniques and rules in a different way. 19 23.75%

4
Analysing, Evaluating and Creating:
Examine and break information into parts by identifying motives or causes. Make
inferences and find evidence to support generalizations.
Present and defend opinions by making judgments about information, validity of ideas, or
17 21.25%
quality of work based on a set of criteria.
Compile information together in a different way by combining elements in a new pattern
or proposing alternative solutions.

TOTAL 80 100%
 Accountancy (Code No. 055)
Class-XII (2023-24)

Theory: 80 Marks 3 Hours

Project: 20 Marks

Units Periods Marks

Part A Accounting for Partnership Firms and Companies

Unit 1. Accounting for Partnership Firms 105 36

Unit 2. Accounting for Companies 45 24
150 60
Part B Financial Statement Analysis
Unit 3. Analysis of Financial Statements 30 12
Unit 4. Cash Flow Statement 20 8
50 20
Part C Project Work 20 20
Project work will include:

Project File 12 Marks

Viva Voce 8 Marks

Or
Part B Computerized Accounting

Unit 4. Computerized Accounting 50 20

Part C Practical Work 20 20
Practical work will include:

Practical File 12 Marks

Viva Voce 8 Marks

Part A: Accounting for Partnership Firms and Companies
Unit 1: Accounting for Partnership Firms
Units/Topics
 Partnership: features, Partnership Deed.
 Provisions of the Indian Partnership Act 1932
in the absence of partnership deed.
 Fixed v/s fluctuating capital accounts.
Preparation of Profit and Loss Appropriation
account- division of profit among partners,
guarantee of profits.
 Past adjustments (relating to interest on
capital, interest on drawing, salary and profit
sharing ratio).
 Goodwill: meaning, nature, factors affecting
and methods of valuation - average profit,
super profit and capitalization.
Note: Interest on partner's loan is to be treated as a
charge against profits.
Goodwill: meaning, factors affecting, need for
valuation, methods for calculation (average profits,
super profits and capitalization), adjusted through
partners capital/ current account.
Accounting for Partnership firms - Reconstitution
and Dissolution.
 Change in the Profit Sharing Ratio among
the existing partners - sacrificing ratio,
gaining ratio, accounting for revaluation of
assets and reassessment of liabilities and
treatment of reserves, accumulated profits
and losses. Preparation of revaluation
account and balance sheet.
 Admission of a partner - effect of admission
of a partner on change in the profit sharing
ratio, treatment of goodwill (as per AS 26),
treatment for revaluation of assets and re-
assessment of liabilities, treatment of
reserves, accumulated profits and losses,
Learning Outcomes
After going through this Unit, the students will be
able to:
 state the meaning of partnership, partnership
firm and partnership deed.
 describe the characteristic features of
partnership and the contents of partnership
deed.
 discuss the significance of provision of
Partnership Act in the absence of partnership
deed.
 differentiate between fixed and fluctuating
capital, outline the process and develop the
understanding and skill of preparation of
Profit and Loss Appropriation Account.
 develop the understanding and skill of
preparation profit and loss appropriation
account involving guarantee of profits.
 develop the understanding and skill of
making past adjustments.
 state the meaning, nature and factors
affecting goodwill
 develop the understanding and skill of
valuation of goodwill using different methods.
 state the meaning of sacrificing ratio, gaining
ratio and the change in profit sharing ratio
among existing partners.
 develop the understanding of accounting
treatment of revaluation assets and
reassessment of liabilities and treatment of
reserves and accumulated profits by
preparing revaluation account and balance
sheet.
 explain the effect of change in profit sharing
ratio on admission of a new partner.
 develop the understanding and skill of
 adjustment of capital accounts and
preparation of capital, current account and
balance sheet.
 Retirement and death of a partner: effect of
retirement / death of a partner on change in
profit sharing ratio, treatment of goodwill (as
per AS 26), treatment for revaluation of
assets and reassessment of liabilities,
adjustment of accumulated profits, losses
and reserves, adjustment of capital accounts
and preparation of capital, current account
and balance sheet. Preparation of loan
account of the retiring partner.
 Calculation of deceased partner’s share of
profit till the date of death. Preparation of
deceased partner’s capital account and his
executor’s account.
 Dissolution of a partnership firm: meaning
of dissolution of partnership and partnership
firm, types of dissolution of a firm. Settlement
of accounts - preparation of realization
account, and other related accounts: capital
accounts of partners and cash/bank a/c
(excluding piecemeal distribution, sale to a
company and insolvency of partner(s)).
Note:
(i) If the realized value of tangible assets is not given it
should be considered as realized at book value itself.
(ii) If the realized value of intangible assets is not
given it should be considered as nil (zero value).
(ii) In case, the realization expenses are borne by a
partner, clear indication should be given regarding the
payment thereof.
Unit-3 Accounting for Companies
Units/Topics
Accounting for Share Capital
 Features and types of companies.
 Share and share capital: nature and types.
treatment of goodwill as per AS-26, treatment
of revaluation of assets and re-assessment of
liabilities, treatment of reserves and
accumulated profits, adjustment of capital
accounts and preparation of capital, current
account and balance sheet of the new firm.
 explain the effect of retirement / death of a
partner on change in profit sharing ratio.
 develop the understanding of accounting
treatment of goodwill, revaluation of assets
and re-assessment of liabilities and
adjustment of accumulated profits, losses
and reserves on retirement / death of a
partner and capital adjustment.
 develop the skill of calculation of deceased
partner's share till the time of his death and
prepare deceased partner's and executor's
account.
 discuss the preparation of the capital
accounts of the remaining partners and the
balance sheet of the firm after retirement /
death of a partner.
 understand the situations under which a
partnership firm can be dissolved.
 develop the understanding of preparation of
realisation account and other related
accounts.
Learning Outcomes
After going through this Unit, the students will be
able to:
 state the meaning of share and share capital
  Accounting for share capital: issue and
allotment of equity and preferences shares.
Public subscription of shares - over
subscription and under subscription of
shares; issue at par and at premium, calls in
advance and arrears (excluding interest),
issue of shares for consideration other than
cash.
 Concept of Private Placement and Employee
Stock Option Plan (ESOP), Sweat Equity.
 Accounting treatment of forfeiture and re-
issue of shares.
 Disclosure of share capital in the Balance
Sheet of a company.
Accounting for Debentures
 Debentures: Meaning, types, Issue of
debentures at par, at a premium and at a
discount. Issue of debentures for
consideration other than cash; Issue of
debentures with terms of redemption;
debentures as collateral security-concept,
interest on debentures (concept of TDS is
excluded). Writing off discount / loss on issue
of debentures.
Note: Discount or loss on issue of debentures to be
written off in the year debentures are allotted from
Security Premium Reserve (if it exists) and then from
Statement of Profit and Loss as Financial Cost (AS
16)
Part B: Financial Statement Analysis
Unit 4: Analysis of Financial Statements
Units/Topics
Financial statements of a Company:
Meaning, Nature, Uses and importance of financial
Statement.
Statement of Profit and Loss and Balance Sheet in
and differentiate between equity shares and
preference shares and different types of
share capital.
 understand the meaning of private placement
of shares and Employee Stock Option Plan.
 explain the accounting treatment of share
capital transactions regarding issue of
shares.
 develop the understanding of accounting
treatment of forfeiture and re-issue of
forfeited shares.
 describe the presentation of share capital in
the balance sheet of the company as per
schedule III part I of the Companies Act
2013.
 explain the accounting treatment of different
categories of transactions related to issue of
debentures.
 develop the understanding and skill of writing
of discount / loss on issue of debentures.
 understand the concept of collateral security
and its presentation in balance sheet.
 develop the skill of calculating interest on
debentures and its accounting treatment.
 state the meaning of redemption of
debentures.
Learning Outcomes
After going through this Unit, the students will be
able to:
 develop the understanding of major headings
and sub-headings (as per Schedule III to the
prescribed form with major headings and sub
headings (as per Schedule III to the Companies Act,
2013)
Note: Exceptional items, extraordinary items and
profit (loss) from discontinued operations are
excluded.
 Financial Statement Analysis: Meaning,
Significance Objectives, importance and
limitations.
 Tools for Financial Statement Analysis:
Comparative statements, common size
statements, Ratio analysis, Cash flow
analysis.
 Accounting Ratios: Meaning, Objectives,
Advantages, classification and computation.
 Liquidity Ratios: Current ratio and Quick
ratio.
 Solvency Ratios: Debt to Equity Ratio, Total
Asset to Debt Ratio, Proprietary Ratio and
Interest Coverage Ratio. Debt to Capital
Employed Ratio.
 Activity Ratios: Inventory Turnover Ratio,
Trade Receivables Turnover Ratio, Trade
Payables Turnover Ratio, Fixed Asset
Turnover Ratio, Net Asset Turnover Ratio
and Working Capital Turnover Ratio.
 Profitability Ratios: Gross Profit Ratio,
Operating Ratio, Operating Profit Ratio, Net
Profit Ratio and Return on Investment.
Note: Net Profit Ratio is to be calculated on the basis of profit before and after tax.
Unit 5: Cash Flow Statement
Units/Topics
 Meaning, objectives Benefits, Cash and Cash
Equivalents, Classification of Activities and
preparation (as per AS 3 (Revised) (Indirect
Method only)
Companies Act, 2013) of balance sheet as
per the prescribed norms / formats.
 state the meaning, objectives and limitations
of financial statement analysis.
 discuss the meaning of different tools of
'financial statements analysis'.
 develop the skill of preparation of preparation
of comparative and common size statement,
understand their uses and difference
between the two.
 state the meaning, objectives and
significance of different types of ratios.
 develop the understanding of computation of
current ratio and quick ratio.
 develop the skill of computation of debt equity
ratio, total asset to debt ratio, proprietary ratio
and interest coverage ratio.
 develop the skill of computation of inventory
turnover ratio, trade receivables and trade
payables ratio and working capital turnover
ratio and others.
 develop the skill of computation of gross
profit ratio, operating ratio, operating profit
ratio, net profit ratio and return on investment.
Learning Outcomes
After going through this Unit, the students will
be able to:
 state the meaning and objectives of cash flow
statement.
  develop the understanding of preparation of
Note: Cash Flow Statement using indirect method
(i) Adjustments relating to depreciation and as per AS 3 with given adjustments.
amortization, profit or loss on sale of assets including
investments, dividend (both final and interim) and tax.
(ii) Bank overdraft and cash credit to be treated as
short term borrowings.
(iii) Current Investments to be taken as Marketable
securities unless otherwise specified.

Note: Previous years’ Proposed Dividend to be given effect, as prescribed in AS-4, Events occurring after the
Balance Sheet date. Current years’ Proposed Dividend will be accounted for in the next year after it is declared
by the shareholders.
Project Work

One specific project based on financial statement analysis of a company covering any two aspects from the
following:

1. Comparative and common size financial statements

2. Accounting Ratios
3. Segment Reports
4. Cash Flow Statements

OR

Part B: Computerised Accounting

Unit 4: Computerised Accounting

Overview of Computerised Accounting System

 Introduction: Application in Accounting.
 Features of Computerised Accounting System.
 Structure of CAS.
 Software Packages: Generic; Specific; Tailored.

Accounting Application of Electronic Spreadsheet.

 Concept of electronic spreadsheet.
 Features offered by electronic spreadsheet.
 Application in generating accounting information - bank reconciliation statement; asset accounting;
loan repayment of loan schedule, ratio analysis
 Data representation- graphs, charts and diagrams.

Using Computerized Accounting System.

 Steps in installation of CAS, codification and Hierarchy of account heads, creation of accounts.
 Data: Entry, validation and verification.
 Adjusting entries, preparation of balance sheet, profit and loss account with closing entries and
opening entries.
 Need and security features of the system.

Part C: Practical Work

Prescribed Books:
Financial Accounting -I Class XI NCERT Publication
Accountancy -II Class XI NCERT Publication
Accountancy -I Class XII NCERT Publication
Accountancy -II Class XII NCERT Publication
Accountancy – Computerised Accounting System Class XII NCERT Publication
 Suggested Question Paper Design
Accountancy (Code No. 055)
Class XII (2023-24)
Theory: 80 Marks 3 hrs.
Project: 20 Marks

S
N Typology of Questions Marks Percentage
1 Remembering and Understanding:
Exhibit memory of previously learned material by recalling facts, terms, basic concepts,
and answers.
44 55%
Demonstrate understanding of facts and ideas by organizing, comparing, translating,
interpreting, giving descriptions, and stating main ideas

3 Applying: Solve problems to new situations by applying acquired knowledge, facts,

techniques and rules in a different way. 19 23.75%

4
Analysing, Evaluating and Creating:
Examine and break information into parts by identifying motives or causes. Make
inferences and find evidence to support generalizations.
Present and defend opinions by making judgments about information, validity of ideas, or
17 21.25%
quality of work based on a set of criteria.
Compile information together in a different way by combining elements in a new pattern
or proposing alternative solutions.

TOTAL 80 100%
 SAMPLE QUESTION PAPER
SUBJECT- ACCOUNTANCY (055)
CLASS XII (2023-24)
TIME 3 HOURS MAX. MARKS 80

GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for all the candidates.
4. Part - B has two options i.e. (i) Analysis of Financial Statements and
(ii) Computerised Accounting.
Students must attempt only one of the given options as per the subject opted.
5. Question Nos.1 to 16 and 27 to 30 carries 1 mark each.
6. Questions Nos. 17 to 20, 31and 32 carries 3 marks each.
7. Questions Nos. from 21 ,22 and 33 carries 4 marks each
8. Questions Nos. from 23 to 26 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions
of one mark, 2 questions of three marks, 1 question of four marks and 2 questions of
six marks.

Q. PART A Marks
N0.
(Accounting for Partnership Firms and Companies)
1 A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which 1
₹30,000 and ₹10,000 are credited as a premium for goodwill to A and B respectively. The new profit-
sharing ratio of A:B:C will be:
a) 3:2:1
b) 12:8:5
c) 9:6:5
d) 33:27:20
2 Assertion: Batman, a partner in a firm with four partners has advanced a loan of ₹50,000 to the firm for 1
last six months of the financial year without any agreement. He claims an interest on loan of
₹3,000 despite the firm being in loss for the year.

Reasoning: In the absence of any agreement / provision in the partnership deed, provisions of Indian
Partnership Act, 1932 would apply.

a) Both A and R are correct, and R is the correct explanation of A.

b) Both A and R are correct, but R is not the correct explanation of A.
c) A is correct but R is incorrect.
d) A is incorrect but R is correct.
3 If 10,000 shares of ₹10 each were forfeited for non-payment of final call money of ₹3 per share and 1
only 7,000 of these shares were re-issued @₹ 11 per share as fully paid up, then what is the minimum
amount that company must collect at the time of re-issue of the remaining 3,000 shares?
a) ₹ 21,000
b) ₹ 9,000
c) ₹ 16,000
d) ₹ 30,000
OR

On 1st April 2022, Galaxy ltd. had a balance of ₹8,00,000 in Securities Premium account. During the
year company issued 20,000 Equity shares of ₹10 each as bonus shares and used the balance amount to
 write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of ₹100 each at a
discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P&L for the
year for Loss on issue of Debentures would be:

a) ₹30,00,000.
b) ₹22,00,000.
c) ₹24,00,000.
d) ₹20,00,000.

4 A, B and C who were sharing profits and losses in the ratio of 4:3:2 decided to share the future profits 1
and losses in the ratio to 2:3:4 with effect from 1st April 2023. An extract of their Balance Sheet as at
31st March 2023 is:

Liabilities Amount(₹) Assets Amount(₹)

Workmen Compensation 65,000
Reserve

At the time of reconstitution, a certain amount of Claim on workmen compensation was determined for
which B’s share of loss amounted to₹5,000. The Claim for workmen compensation would be:

a) ₹15,000
b) ₹70,000
c) ₹50,000
d) ₹80,000
OR
A, B and C are in partnership business. A used ₹2,00,000 belonging to the firm without the information
to other partners and made a profit of ₹35,000 by using this amount. Which decision should be taken
by the firm to rectify this situation?

a) A need to return only ₹2,00,000 to the firm.

b) A is required to return ₹35,000 to the firm.
c) A is required to pay back ₹35,000 only equally to B and C.
d) A need to return ₹2,35,000 to the firm.
5 Interest on Partner’s loan is credited to: 1
a) Partner’s Fixed capital account.
b) Partner’s Current account.
c) Partner’s Loan Account.
d) Partner’s Drawings Account.
6 Alexa Ltd. purchased building from Siri Ltd for ₹8,00,000. The consideration was paid by issue of 1
6%debentures of ₹100 each at a discount of 20%. The 6% Debentures account is credited with:
a) ₹10,40,000
b) ₹10,00,000
c) ₹9,60,000
d) ₹6,40,000
OR

Which of the following statements is incorrect about debentures?

a) Interest on debentures is an appropriation of profits.
b) Debenture holders are the creditors of a company.
c) Debentures can be issued to vendors at discount.
d) Interest is not paid on Debentures issued as Collateral Security.
7 Assertion (A) :- A Company is Registered with an authorised Capital of 5,00,000 Equity Shares of ₹10 1
each of which 2,00,000 Equity shares were issued and subscribed. All the money had been called up
except ₹2 per share which was declared as ‘Reserve Capital’. The Share Capital reflected in balance
sheet as ‘Subscribed and Fully paid up’ will be Zero.

Reason ( R ) :- Reserve Capital can be called up only at the time of winding up of the company.

(a) Both Assertion (A) and Reason (R) are Correct and Reason (R) is the correct explanation
of Assertion (A)
(b) Both Assertion (A) and Reason (R) are Correct, but Reason (R) is not the correct explanation
of Assertion (A)
(c) Assertion (A) is incorrect, but Reason (R) is Correct.
(d) Assertion (A) is correct, but Reason (R) is incorrect
8 G, S and T were partners sharing profits in the ratio 3:2:1. G retired and his dues towards the firm 1
including Capital balance, Accumulated profits and losses share, Revaluation Gain amounted to ₹
5,80,000. G was being paid ₹ 7,00,000 in full settlement. For giving that additional amount of ₹
1,20,000, S was debited for ₹ 40,000. Determine goodwill of the firm.
a). ₹ 1,20,000
b). ₹80,000
c). ₹2,40,000
d). ₹ 3,60,000

OR
Annu, Banu and Chanu are partners, Chanu has been given a guarantee of minimum profit of ₹8,000 by
the firm. Firm suffered a loss of ₹5,000 during the year. Capital account ofBanu will be ________
by₹_________.
a) Credited, ₹6,500.
b) Debited, ₹6,500.
c) Credited, ₹1,500.
d) Debited, ₹1,500.

Read the following hypothetical situation, answer question no. 9 and 10.

Richa and Anmol are partners sharing profits in the ratio of 3:2 with capitals of ₹2,50,000 and
₹1,50,000 respectively. Interest on capital is agreed @ 6% p.a. Anmol is to be allowed an annual salary
of 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest
on capital but after charging Anmol’s salary amounted to ₹62,000.A provision of 5% of this profit is to
be made in respect of manager’s commission.

Following is their Profit & Loss Appropriation Account

Particulars (₹) Particulars (₹)
To Interest on Capital By Profit & loss ___(2)___
Richa --------- account (After
Anmol --------- manager’s
commission)
To Anmol’s Salary a/c 12,500

To Profit transferred to:

Richa’s Capital A/C (1) __(1)___

Anmol’s Capital A/c -----------

----------- ----------
9 The amount to bereflected in blank (1) will be: 1
a) ₹37,200
b) ₹44,700
c) ₹22,800
d) ₹20,940
10 The amount to be reflected in blank (2) will be: 1
a) ₹62,000.
b) ₹74,500.
c) ₹71,400.
d) ₹70,775.
11 In the absence of an agreement, partners are entitled to: 1
i) Profit share in capital ratio.
ii) Commission for making additional sale.
iii) Interest on Loan & Advances by them to the firm.
iv) Salary for working extra hours.
v) Interest on Capital.
Choose the correct option:
a) Only i), iv) and v).
b) Only ii) and iii).
c) Only iii).
d) Only i) and iii).
12 Rancho Ltd. took over assets worth ₹ 20,00,000 from PK Ltd. by paying 30% through bank draft and 1
balance by issue of shares of ₹ 100 each at a premium of 10%. The entry to be passed by Rancho Ltd
for settlement will be :-
A. PK Ltd. Dr. 20,00,000
To Share Capital A/c 12,72,700
To Securities Premium A/c 1,27,270
To Bank A/c 6,00,000
To Statement of P&L 30
(Being settlement of amount due to
vendors)
B. PK Ltd. Dr. 20,00,000
To Share Capital A/c 12,72,700
To Securities Premium A/c 1,27,270
To Bank A/c 6,00,030
(Being settlement of amount due to
vendors)
C. PK Ltd. Dr. 20,00,000
To Share Capital A/c 12,72,700
To Securities Premium A/c 1,27,300
To BankA/c 6,00,000
(Being settlement of amount due to
vendors)
D. PK Ltd. Dr. 20,00,000
To Share Capital A/c 12,73,000
To Securities Premium A/c 1,27,300
To Bank A/c 5,99,700
(Being settlement of amount due to
vendors)
13 A company forfeited 3,000 shares of ₹10 each, on which only ₹5 per share (including ₹1 premium) has 1
been paid. Out of these few shares were re-issued at a discount of ₹1 per share were and ₹6,000 were
transferred to Capital Reserve. How many shares were re-issued?
a) 3,000 shares
b) 1,000 shares
c) 2,000 shares
d) 1,500 shares

14 X and Y are partners in a firm with capital of ₹18,000 and ₹20,000. Z brings ₹10,000 for his share of 1
goodwill and he is required to bring proportionate capital for 1/3rdshare in profits. The capital
contribution of Z will be:
a) ₹24,000.
b) ₹19,000.
c) ₹12,667.
d) ₹14,000.

15 A and B are partners. B draws a fixed amount at the end of every quarter. Interest on drawings is 1
charged @15% p.a. At the end of the year interest on B’s drawings amounted to ₹9,000. Drawings of B
were:
a) ₹24,000 per quarter.
b) ₹40,000 per quarter
c) ₹30,000 per quarter
d) ₹80,000 per quarter

OR

Shyam, Gopal & Arjun are partners carrying on garment business. Shyam withdrew ₹ 10,000 in the
beginning of each quarter. Gopal, withdrew garments amounting to ₹ 15,000 to distribute it to flood
victims, and Arjun withdrew ₹ 20,000 from his capital account. The partnership deed provides for
interest on drawings @ 10% p.a. The interest on drawing charged from Shyam, Gopal & Arjun at the
end of the year will be
a) Shyam- ₹ 4,800; Gopal- ₹ 1,000; Arjun- ₹ 2,000.
b) Shyam- ₹ 4,800; Gopal- ₹ 1,000; Arjun- ₹ 2,000.
c) Shyam- ₹ 2,500; Gopal- ₹ 750; Arjun- Nil.
d) Shyam- ₹ 4,800; Gopal- Nil; Arjun- Nil.

16 On the day of dissolution of the firm ‘Roop Brothers’ had partner’s capital amounting to ₹1,50,000 , 1
external liabilities ₹35,000, Cash balance ₹8,000 and P&LA/c(Dr.) ₹7,000. If Realisation expense and
loss on Realisation amounted to₹5,000 and ₹25,000 respectively, the amount realised by sale of assets
is:
a) ₹1,64,000
b) ₹1,45,000
c) ₹1,57,000
d) ₹1,50,000
17 Anshul, Babita and Chander were partners in a firm running a successful business of car accessories. 3
They had agreed to share profits and losses in the ratio of 1/2 : 1/3 : 1/6 respectively. After running
business successfully and without any disputes for 10 years,Babita decided to retire due to old age and
the Anshul and Chander decided to share future profits and losses in the ratio of 3 : 2. The accountant
passed the following journal entry for Babita share of goodwill and missed some information. Fill in
the missing figures in the following Journal entry and calculate the gaining ratio.
Date Particulars L.F Dr Cr
Anshul’s Capital A/c Dr ----------
Chander’s Capital A/c Dr 21,000
To Babita’s Capital A/c ------------
(Chander’s share of Goodwill
debited to the amounts of continuing
partners in their gaining ratio)

18 P, Q and R were partners with fixed capital of ₹ 40,000, ₹32,000and ₹24,000.After distributing the 3
profit of ₹48,000 for the year ended 31st March 2022 in their agreed ratio of 3 : 1 : 1it was observed
that:
(1) Interest on capital was provided at 10% p.a. instead of 8% p.a.
(2) Salary of ₹ 12,000 was credited to P instead of Q.
You are required to pass a single journal entry in the beginning of the next year to rectify the above
omissions.
OR
Cheese and Slice are equal partners. Their capitals as on April 01, 2022 were Rs. 50,000 and Rs.
1,00,000 respectively. After the accounts for the financialyear ending March 31, 2023 have been
prepared, it is observed that interest on capital @ 6% per annum and salary to Cheese @ ₹5,000 per
annum, as provided in the partnership deed has notbeen credited to the partners’ capital accounts before
distribution of profits.
You are required to give necessary rectifying entries using P&L adjustment account.
19 Pioneer Fitness Ltd. took over the running business of Healthy World Ltd. having assets of ₹10,00,000 3
and liabilities of ₹ 1,70,000 by:
a) Issuing 8,000 8% Debentures of ₹ 100 each at 5% premium redeemable after 6 years @ ₹ 110;
and
b) Cheque for ₹ 50,000.
Pass the Journal entries in the books of Pioneer Fitness Ltd.
OR
Lilly Ltd. forfeited 100 shares of ₹10 each issued at10% premium (₹8 called up ) on which a
shareholder did not pay ₹3 of allotment (including premium) and first call of ₹2. Out of these 60 shares
were reissued to Ram as fully paid for ₹8 per share and 20 shares to Suraj as fully paid up @ ₹12 per
share at different intervals of time.
Prepare Share Forfeiture account.
20 Calculate goodwill of a firm on the basis of three years purchases of the Weighted Average Profits of 3
the last four years. The profits of the last four years were:

Years (ending 31st march) 2020 2021 2022 2023

Amount 28,000 27,000 46,900 53,810

 a) On 1st April, 2020 a major plant repair was undertaken for ₹10,000 which was charged to
revenue. The said sum is to be capitalized for goodwill calculation subject to adjustment of
depreciation of 10% on reducing balance method.
b) For the purpose of calculating Goodwill the company decided that the years ending 31.03.2020
and 31.03.2021 be weighted as 1 each (being COVID affected) and for year ending 31.03.2022
and 31.03.2023 weights be taken as 2 and 3 respectively.

21 Atishyokti Ltd. company was registered with an authorized capital of ₹ 20,00,000 divided into 4
2,00,000 Equity Shares of ₹ 10 each, payable ₹ 3 on application, ₹ 6 on allotment (including ₹ 1
premium) and balance on call. The company offered 80,000 shares for public subscription. All the
money has been duly called and received except allotment and call money on 5,000 shares held by
Manish and call money on 4,000 shares held by Alok. Manish’s shares were forfeited and out of these
3,000 shares were re-issued ₹ 9 per share as fully paid up. Show share capital in the books of the
company. Also prepare notes to accounts.

22 Sun and Kiran are partners sharing profits and losses equally. They decided to dissolve their firm. 4
Assets and Liabilities have been transferred to Realisation Account. Pass necessary Journal entries for
the following:

a) All partners are agreed that the process of realisation at the time dissolution will be
accomplished by Sun for which he will be paid ₹10,000 along with the amount of expense
which amounted to 2% of total value realised from the Assets on dissolution. Some assets were
sold for Cash at a cumulative Value of ₹12,00,000 and the remaining were taken over by
creditors at a valuation of ₹3,00,000.
b) Deferred Advertisement Expenditure A/c appeared in the books at ₹28,000.
c) Out of the Stock of ₹1,20,000; Kiran (a partner) took over 1/3 of the stock at a discount of 25%
and 50% of remaining stock was took over by a Creditor of ₹30,000 in full settlement of his
claim. Balance amount of stock realized at ₹25,000.
d) An outstanding bill for repairs and renewal of₹3,000 was settled through an unrecorded asset
which was valued at ₹10,000. Balance being settled in Cash.

23 The Directors of Rockstar Ltd. invited applications for 2,00,000 Shares of ₹ 10 each, issued at 20% 6
premium. Share was payable as ₹ 5 on application, ₹ 4 (including premium) on allotment and balance
on call. Public had applied for 3,20,000 shares out of which applications for 20,000 shares were
rejected and remaining were alloted on pro-rata basis.
Simba, an applicant of 15,000 shares failed to pay allotment and call money. His shares were forfeited
and out of these 6,000 shares were reissued at a discount of ₹2 per share.
Journalise.

OR

Shaktimaan Ltd. invited applications for issuing 1,00,000 Shares of ₹ 10 each at a premium of ₹2 per
share. The amount was payable as₹ 4 on application (including premium); ₹ 5 on Allotment and
balance on call. Applications were received shares for 1,80,000 of which Applications for 30,000
shares were rejected and remaining applicants were allotted on pro-rata basis.
Manthan, holding 5,000 shares failed to pay call money and his shares were forfeited. Out of these
2,000 shares were re-issued at premium of ₹ 3 per share.
Prepare Cash Book and pass necessary entries.

24 Rajinder and Vijay were partners in a firm sharing profits in the ratio 3:2. On 31st March 2023 their 6
balance sheet was as follows:

Liabilities Amount (₹) Assets Amount(₹)

Capital A/cs: Fixed Assets (Tangible) 3,60,000
Rajinder 3,00,000 Goodwill 50,000
Vijay 1,50,000 4,50,000 Investments 40,000
Current A/cs: Stock 74,000
Rajinder 50,000 Debtors 1,00,000
Less:Provision for Doubtful
Vijay 10,000 60,000 Debts4,000 96,000

Creditors 75,000 Bank 25,000

General Reserve 60,000

6,45,000 6,45,000

With an aim to expand business it is decided to admit Ranvijay as a partner on 1st April 2023 on the
following terms:
a) Provision for doubtful debts is to be increased to 6% of debtors.
b) An outstanding bill for repairs ₹ 50,000 to be accounted in the books
c) An unaccounted interest accrued of ₹ 7500 be provided for .
d) Investment were sold at book value.
e) Half of stock was taken by Rajinder at ₹42,000 and remaining stock was also to be revalued at
the same rate.
f) New profit-sharing ratio of partners will be 5:3:2.
g) Ranvijay will bring ₹ 1,00,000 as capital and his share of goodwill which was valued at twice
the average profit of the last three years ended 31st March 2023, 2022 and 2021 were ₹
1,50,000, ₹ 1,30,000 and ₹ 1,70,000 respectively.
Pass necessary journal entries.
OR
L, M and N were partners in a firm sharing profit & losses in the ratio of 2:2:3 . On 31st March 2023,
their Balance Sheet was as follows:
Liabilities Amount(₹) Assets Amount(₹)
Creditors 80,000 Land and Building 5,00,000
Bank overdraft 22,000 Machinery 2,50,000
Long term debts 2,00,000 Furniture 3,50,000
Capital A/C s: Investments 1,00,000
L-6,25,000
M -4,00,000
N -5,25,000 15,50,000
Employees provident fund 38,000 Stock 4,00,000
Debtors 2,00,000
Bank 20,000
Deferred Advertisement 70,000
Expenditure
18,90,000 18,90,000
On 31st March 2023 , M retired from the firm and remaining partners decided to carry on business. It
was decided to revalue assets and liabilities as under :
a) Land and Building be appreciated by₹ 2,40,000 and Machinery be depreciated 10%.
b) 50% of investments were taken by the retiring partner at book value.
c) Provision for doubtful debts was to be made at5% on debtors.
 d) Stock will be valued at market price which is ₹1,00,000 less than the book value.
e) Goodwill of the firm be valued at ₹5,60,000. L and N decided to share future profits and losses
in the ratio of 2:3.
f) The total capital of the new firm will be ₹32,00,000 which will be in proportion of profit -
sharing ratio of L and N.
g) Gain on revaluation account amounted to ₹1,05,000.

Prepare Partner’s Capital accounts and Balance sheet of firm after M’s retirement.

25 Sandeep, Maheep and Amandeep were partners in a firm sharing profits in the ratio of 2: 2: 1. The firm 6
closes its books on 31st March every year. On 30th June, 2020Maheepdied. The partnership deed
provided that on the death of a partner his executors will be entitled to the following:
a) Balance in his capital account which amounted to ₹1,15,000and interest on capital till date of
death which amounted to ₹5,000.
b) His share in the profits of the firm till the date of his death amounted to ₹20,000.
c) His share in the goodwill of the firm. The goodwill of the firm on Maheep’s death was valued at
₹ 1,50,000.
d) Loan to Maheep amounted ₹ 20,000.
It was agreed that the amount will be paid to his executor in three equal yearly instalments with interest
@10% p.a. The first instalment was to be paid on 30.06.2021.

Calculate the amount to be transferred to Maheep’s executors Account and prepare the
executor’s account till it is finally settled.
26 On July 01, 2022, Panther Ltd. issued 20,000, 9% Debentures of ₹ 100 each at 8% premium and 6
redeemable at a premium of 15% in four equal instalments starting from the end of the third year. The
balance in Securities Premium on the date of issue of debentures was ₹ 80,000. Interest on debentures
was to be paid on March 31 every year.
Pass Journal entries for the financial year 2022-23. Also prepare Loss on Issue of Debentures account.

PART B
Option - I
(Analysis of Financial Statements)
27 ‘Freedom to Choose of method of depreciation’ refers to which limitation of financial statement 1
analysis.
a) Historical analysis.
b) Qualitative aspect ignored.
c) Not free from bias.
d) Ignore Price level Changes.
OR
. ............ is included in current assets while preparing balance sheet as per revised Schedule III but
excluded from current assets while calculating Current Ratio
a) Debtors.
b) Cash and Cash Equivalent.
c) Loose tools and Stores and spares.
d) Prepaid Expense.
28 Debt-Equity Ratio of Dhamaka Ltd is 3 : 1. Which of the following will result in decrease in this ratio? 1
a) Issue of Debentures for Cash of ₹2,00,000.
b) Issue of Debentures of ₹3,00,000 to Vendors from whom Machinery was purchased.
c) Goods purchased on Credit of ₹1,00,000.
d) Issue of Equity Shares of ₹2,00,000.
29 Statement I:- Sale of Marketable Securities will result in no flow of Cash. 1
 Statement II:- Debentures issued as collateral security will result in inflow of cash.

A. Both Statements are correct. B. Both Statements are incorrect.

C. Statement I is correct and Statement II D. Statement I is incorrect and Statement
is incorrect. I is correct.
OR
What will be the effect of issue of Bonus shares on Cash Flow Statement?
A. No effect B. Inflow in Financing Activity
C. Inflow in Operating activity D. Inflow in Investing Activity
30 Aditya Sunrise Ltd. provides you the following information: 1
Particulars 31.3.2023(₹) 31.3.2022(₹)
10% Bank Loan Nil 1,00,000

Additional Information:
1. Equity Share Capital raised during the year ₹3,00,000;
2. 10% Bank Loan was repaid on 01.04.2022.
3. Dividend received during the year was ₹20,000.
4. Dividend Proposed for the year 2021-22 was ₹50,000 but only ₹20,000 was approved by the
Shareholders.
Find out the cash flow from Financing Activities.
a) ₹ 1,50,000
b) ₹ 2,00,000
c) ₹ 1,70,000
d) ₹ 1,80,000

31 Classify the following items under Major heads and Sub heads (If any) in the balance sheet of a 3
Company as per schedule III of the Companies Act 2013.
i. Loose Tools ii. Loan repayable on demand
iii. Provision for Retirement benefits iv. Pre-paid Insurance
v. Capital advances vi. Shares in Listed Companies
32 a) A company had a liquid ratio of 1.5 and current ratio of 2 and inventory turnover ratio 6 times. 3
It had total current assets of ₹8,00,000. Find out annual sales if goods are sold at 25% profit on
cost.
b) Calculate debt to capital employed ratio from the following information.
Shareholder funds ₹ 15,00,000
8% Debenture ₹ 7,50,000
Current liabilities ₹ 2,50,000
Non -current Assets ₹ 17,50,000
Current Assets ₹7,50,000
33 From the information extracted from the statement of Profit & Loss of Zee Ltd for the year ended 31st 4
March 2022 and 31st March 2023,prepare a common size statement of profit & loss:

Particulars Note No. 2022-23(₹) 2021-22(₹)

Revenue from operations 8,00,000 10,00,000
Gross Profit 60% 70%
Other Expenses 2,20,000 2,60,000
Tax Rate 50% 50%

OR

From the following information , prepare comparative statement ofProfit & Loss
 Particulars Note No. 2022-23(₹) 2021-22(₹)
Revenue from operations 10,00,000 8,00,000
Other Income 2,20,000 1,50,000
Cost of materials consumed 4,00,000 3,00,000
Change in inventories of finished goods 2,00,000 1,00,000
and work in progress
Other Expenses(% of cost of Revenue from 15% 10%
Operations
Tax Rate 30% 30%
34 Prepare a Cash Flow Statement from the following Balance Sheets of Arya Ltd.: 6
Particulars Note 31.3.2023(₹) 31.3.2022(₹)
I. Equity and Liabilities:
(1) Shareholders’ Funds:
a) Share Capital 1 10,00,000 8,00,000
b) Reserves and Surplus 2 6,40,000 5,40,000
(2) Non-Current Liabilities:
Long-term Borrowings 1,50,000 1,00,000
(3) Current Liabilities:
a)Trade Payables 3 30,000 12,000
b) Short-term Provisions 30,000 28,000
Total 18,50,000 14,80,000
II. Assets:
(1) Non-Current Assets:
a) Property, Plant and
equipment and intangible
assets:
Property, Plant and Equipment 4 7,75,000 4,90,000
b)Non-current Investments 90,000 50,000
(2) Current Assets
a) Inventory 6,20,000 4,13,000
b) Trade receivables 3,20,000 4,94,000
c) Cash & Cash Equivalents 45,000 33,000
Total 18,50,000 14,80,000
Notes to Accounts:
Particulars 31.3.2023 31.3.2022
1. Reserves & Surplus:
General Reserve 5,00,000 4,30,000
Capital Reserve 60,000 50,000
Surplus ie balance in statement of profit and 80,000 60,000
loss
6,40,000 5,40,000
2. Long-term Borrowings:
10% Debentures 1,50,000 1,00,000

3. Short-term Provisions:
Provision for tax 30,000 28,000

4. Tangible Assets:
Plant and Machinery 7,75,000 4,90,000

Additional Information:
1. Tax provided during the year is ₹17,000.
 2. Depreciation charged on plant and Machinery during the year amounted to ₹1,20,000.
3. Non-current Investments costing ₹ 30,000 were sold for ₹ 40,000 during the year. Gain on sale of
Investments was credited to Capital Reserve.
4. Additional Debentures were issued on 31.03.2023.
PART B
Option – II
(Computerised Accounting)

27 Which formulae would result in TRUE if C3 is less than 14 and D4 is less than 200? 1
(a)=AND(C3>14,D4>20)
(b)=AND(C3>14,C4<200)
(c)=AND(C3>14, D4<20)
(d)=AND(C3<14,D4,200)
28 When navigating in a work book, which command is used to move to the beginning of the current 1
row?
(a) [Ctrl]+[Home]
(b) [Page Up]
(c) [Home]
(d) [Ctrl]+[Backspace]
Or
Which function results can be displayed in Auto Calculate?
(a) SUM and AVERAGE
(b) MAX and LOOK
(c) LABEL and AVERAGE
(d) MIN and BLANK

29 What category of functions is used in this formula:=PMT(D11/15,D12,D 12,5) 1

(a) Logical
(b) Financial
(c) Payment
(d) Statistical

30 The syntax of PMT Function is 1

(a) PMT(rate,pv,nper, [fv],[type])
(b) PMT(rate,nper,pv,[fv],[type])
(c) PMT(rate,pv,nper,[type],[fv])
(d) PMT(rate,nper,pv,[type],[fv])

Or

In Excel, the chart tools provide three different options , and

for formatting.

(a) Layout, Format, Data Maker

(b) Design, Layout, Format
(c) Format, Layout, Label
(d) Design, Data Maker, Layout

31 State any three requirements which should be considered before making an investing decision to 3
choose between ‘Desktop database’or ‘Server database’.

32 ‘Accounting Vouchers used for entry in Tally software’ 3

 Define any three types of vouchers which form the basis of entry in Tally software.

33 Explain the use of ‘Conditional Formatting’. 4

Or
State the features of Computerized Accounting system.

34 Describe two basic methods of charging depreciation. Differentiate between both of them. 6
 Marking Scheme – Accountancy XII (SQP 2023-24)
1 d) 33:27:20 1
2 a) A is incorrect but R is correct 1
3 b) ₹ 9,000 1
or
c) ₹ 24,00,000
4 d) ₹ 80,000 1
or
d) A need to return ₹2,35,000 to the firm.
5 c) Partner’s Loan Account 1
6 b) ₹ 10,00,000 1
or
a).Interest on debentures is an appropriation of profits.
7 a) Both Assertion (A) and Reason (R) are Correct and Reason (R) is the correct explanation of 1
Assertion (A)
8 c) ₹ 2,40,000 1
or
b) Debited, ₹6,500.
9 d). ₹20,940. 1
10 c). ₹71,400. 1

11 c). Only (iii) 1

12 B. PK Ltd. Dr. 20,00,000 1
To Share Capital A/c 12,72,700
To Securities Premium A/c 1,27,270
To Bank A/c 6,00,030
(Being settlement of amount due to
vendors)
13 c). 2,000 Shares 1
14 a). ₹24,000. 1
15 b). ₹40,000. 1
Or
c). Shyam - ₹ 2,500; Gopal- ₹ 750; Arjun- Nil.
16 d). ₹1,50,000 1
17 Date Particulars L.F Dr (₹) Cr (₹) 3
Anshul’s Capital A/c Dr 9,000
Chander’s Capital A/c Dr 21,000
To Babita’s Capital A/c 30,000
(Chander’s share of Goodwill
debited to the amounts of continuing
partners in their gaining ratio)

Gaining Ratio is 3:7

18 Partners Interest on Salary Paid Payable Salary Excess / 3

Capital Paid (wrong credit) Payable Deficiency
(2%) (ii) (iii) (iv)
(i)
P 800 12,000 1152 ---- 11,648
(Excess)
Q 640 ---- 384 12,000 11,744
(Deficiency)
 R 480 ---- 384 ---- 96
(excess)

Date Particulars L.F Dr (₹) Cr (₹)

P’s Capital A/c Dr 11,648
R’s Capital A/c Dr 96
To Q’s Capital A/c 11,744
(Being entry passed for adjustment of
interest on capital and salary)

Or

Date Particulars L.F Dr (₹) Cr (₹)

P&L Adjustment A/c Dr. 9,000
To Cheese Capital A/c 3,000
To Slice Capital A/c 6,000
(Being Interest on capital omitted
earlier now provided)

P&L Adjustment A/c Dr. 5,000

To Cheese Capital A/c 5,000
(Being salary omitted earlier now
provided)

Cheese Capital A/c Dr. 7,000

Slice Capital A/c Dr. 7,000
To P&L Adjustment A/c 14,000
(Being Loss on Adjustment
transferred to partners)

19 Date Particulars L.F Dr (₹) Cr (₹) 3

Assets A/c Dr. 10,00,000
Goodwill A/c Dr. 60,000
To Liabilities A/c 1,70,000
To Healthy World ltd. 8,90,000
(Being assets and liability taken
over)

Healthy World Ltd. Dr. 8,90,000

Loss on issue of Debentures A/c Dr. 80,000
To 8% Debentures A/c 8,00,000
To Securities Premium A/c 40,000
To Premium on redemption A/c 80,000
To Bank A/c 50,000
(Being Purchase consideration
discharged by issue of Debentures
and in Cash)

Or
 Share Forfeiture A/c

Particulars Amt(₹) Particulars Amt(₹)

To Share Capital A/c 120 By Share Capital A/c 400
To Capital Reserve A/c 120
To Capital Reserve A/c 80
To Balance c/d 80
400 400

20 Years (ending 31st Adjusted Profit (₹) Weights Product (₹) 3

March)
2020 28,000 1 28,000
2021 36,000 1 36,000
2022 46,000 2 92,000
2023 53,000 3 1,59,000
Total 7 3,15,000

Adjusted Profits 2020 2021 2022 2023

Given Profits 28,000 27,000 46,900 53810
Add Capital Expenditure
Charged to Revenue 10,000
Less: Unprovided Depreciation (1,000) (900) (810)

Adjusted Profits 28,000 36,000 46,000 53,000

Weighted Average Profit = 3,15,000/7
=₹45,000
Goodwill = 45,000 × 3 = ₹1,35,000

Notes to Solution
(i) Depreciation of 2021= 10% of 10,000
= 10,000 × 10/100 =₹1,000
(ii) Depreciation of 2022 = 10% of 9000
= 9,000x10/100= ₹900
(iii) Depreciation of 2022 = 10% of 8,100
= ₹8,100
21 Balance Sheet (Extract) as at 4

Particulars Note No Amount

I. EQUITY AND LIABILITIES
(1) Shareholder’s Funds
(a) Share Capital 1 7,78,000

Notes to Accounts
Note 1:
Particulars Details Amount
1. Share Capital
Authorised Capital
2,00,000 Equity shares of Rs.10 each 20,00,000
Issued Capital
80000 Equity shares of 10 each 8,00,000
Subscribed capital
 Subscribed and fully paid up
74,000 equity shares of 10 each 7,40,000
Subscribed but not fully paid-up
4,000 equity shares of 10 each 40,000 32,000
Less: calls in arrears (4,000x2) (8,000)
Add Forfeited Shares
2,000 equity shares@3 6,000
7,78,000

22 Journal 4
Date Particulars LF Dr. (₹) Cr. (₹)
a) Realisation A/c Dr 40,000
To Sun’s Capital A/c 40,000
(Being Remuneration and expenses payable to
Sun)
b) Sun’s Capital A/c Dr 14,000
Kiran’s Capital A/c Dr 14,000
To Deferred Advertisement Suspense A/c
(Being Advertisement Suspense A/c has been 28,000
debited in partner’s capital account in their profit
sharing ratio)
c)(1) Kiran’s Capital A/c Dr 30,000
To Realisation A/c 30,000
(Being 1/3 of Stock has been taken over by Kiran
at 25% discount))
c)(2) No Entry
c)(3) Bank A/c Dr 25,000
To Realisation A/c 25,000
(Being Stock Realised)
d) Cash/Bank A/c Dr 7,000
To Realisation A/c 7,000
(Being amount realised from unrecorded assets
after payment of outstanding bill)

23 Journal Entries in the Books of Rockstar Ltd. 6

Date Particulars L.F Debit (₹ Credit (₹)
i) Bank A/c Dr. 16,00,000
To Share Application A/c 16,00,000
(Being Application money received)
ii) Share Application A/c Dr. 16,00,000
To Share Capital A/c 10,00,000
To Share Allotment A/c 5,00,000
To Bank A/c 1,00,000
(Being Application money utilised)
iii) Share Allotment A/c Dr. 8,00,000
To Share Capital A/c 4,00,000
To Securities Premium A/c 4,00,000
(Being allotment due with premium)
iv) Bank A/c Dr. 2,85,000
Calls in Arrears A/c Dr. 15,000
To Share Allotment A/c 3,00,000
(Being allotment received except of Simba)
v) Share First and Final Call A/c Dr. 6,00,000
 To Share Capital A/c 6,00,000
(Being call money due)
vi) Bank A/c Dr. 5,70,000
Calls in Arrears A/c Dr. 30,000
To Share First and Final Call A/c 6,00,000
(Being call money received except of Simba)
vii) Share Capital A/c Dr. 1,00,000
Securities Premium A/c Dr. 15,000
To Share Forfeited A/c 70,000
To Calls in Arrears A/c 45,000
(Being Simba’s shares forfeited)
viii) Bank A/c Dr. 48,000
Share Forfeited A/c Dr. 12,000
To Share Capital A/c 60,000
(Being forfeited shares re-issued)
ix) Share Forfeited A/c Dr. 30,000
To Capital Reserve A/c 30,000
(Being gain on re-issue transferred to Capital Reserve)
Or
Journal Entries in the Books of Shaktimaan Ltd.
Date Particulars L.F Debit (₹) Credit (₹)
i) Share Application A/c Dr. 6,00,000
To Share Capital A/c 2,00,000
To Securities Premium A/c 2,00,000
To Share Allotment A/c 2,00,000
(Being Application money utilised)
ii) Share Allotment A/c Dr. 5,00,000
To Share Capital A/c 5,00,000
(Being allotment due with premium)
iii) Share First and Final Call A/c Dr. 3,00,000
To Share Capital A/c 3,00,000
(Being call money due)
iv) Calls in Arrears A/c Dr. 15,000
To Share First and Final Call A/c 15,000
(Being call money received except of Simba)
v) Share Capital A/c Dr. 50,000
To Share Forfeited A/c 35,000
To Calls in Arrears A/c 15,000
(Being Simba’s shares forfeited)
vi) Share Forfeited A/c Dr. 14,000
To Capital Reserve A/c 14,000
(Being gain on re-issue transferred to Capital Reserve)

Cash Book (with Bank Column only)

Date Particulars LF Amount Date Particulars LF Amount
(₹) (₹)
i) To Share Application A/c 7,20,000 ii) By Share Application A/c 1,20,000
iii) To Share Allotment A/c 3,00,000
iv) To Share First and Final 2,85,000
Call A/c
v) To Share Capital A/c 20,000 vi) By Balance c/d 12,11,000
To Securities Premium 6,000
A/c
 13,31,000 13,31,000

24 Journal Entries in the Books of Rajinder, Vijay and Ranvijay 6

Date Particulars L.F Debit (₹ Credit (₹)
i) Revaluation A/c Dr. 52,000
To Prov. For Doubtful Debts A/c 2,000
To Outstanding Bill for Repairs A/c 50,000
(Being increase in PDD and O/S bill accounted)
ii) Accrued Interest A/c Dr. 7,500
Stock A/c Dr. 8,000
To Revaluation A/c 15,500
(Being increase in Stock and Accrued Interest
accounted)
iii) Rajinder’s Current A/c Dr 21,900
Vijay’s Current A/c Dr 14,600
To Revaluation A/c 36,500
(Being loss on revaluation transferred to partner’s
current A/c)
iv) Bank A/c Dr. 40,000
To Investment A/c 40,000
(Being Investment sold at book value)
v) Rajinder’s Current A/c Dr. 42,000
To Stock A/c 42,000
(Being stock taken over by Rajinder)
vi) General Reserve A/c Dr. 60,000
To Rajinder’s Current A/c 36,000
To Vijay’s Current A/c 24,000
(Being General Reserve distributed)
vii) Rajinder’s Current A/c Dr. 30,000
Vijay’s Current A/c Dr. 20,000
To Goodwill A/c 50,000
(Being Goodwill written off)
viii) Bank A/c Dr. 1,60,000
To Ranvijay’s Capital A/c 1,00,000
To Premium for Goodwill A/c 60,000
(Being new partner brings capital and share of
goodwill)
ix) Premium for Goodwill A/c Dr. 60,000
To Rajinder’s Current A/c 30,000
To Vijay’s Current A/c 30,000
(Being premium distributed in Sacrificing Ratio)
OR
Partner’s Capital A/c
Particulars L M N Particulars L M N
Def. Rev. Exp.A/c 20,000 20,000 30,000 Balance b/d 6,25,000 4,00,000 5,25,000
Investments A/c 50,000 Revaluation A/c 30,000 30,000 45,000
M’s Capital A/c 64,000 96,000 L’s Capital A/c 64,000
M’s Loan A/c 5,20,000 N’s Capital A/c 96,000
Balance c/d 12,80,000 19,20,000 Bank A/c 7,09,000 14,76,000
13,64,000 5,90,000 20,46,000 13,64,000 5,90,000 20,46,000
 Balance Sheet of Reconstituted Firm as at March 31,2023
Liabilities Amount(₹) Assets Amount(₹)
Creditors 80,000 Land and Building 7,40,000
Bank overdraft 22,000 Machinery 2,25,000
Long term debts 2,00,000 Furniture 3,50,000
Capital A/C s: Investments 50,000
L- 12,80,000 Stock 3,00,000
N - 19,20,000 32,00,000 Debtors 2,00,000
Employees provident fund 38,000 Less: prov. (10,000) 1,90,000
M’s Loan A/c 5,20,000 Bank 22,05,000
40,60,000 40,60,000

25 Maheep dues to be transferred to executors = 1,15,000 + 5,000 + 20,000 + 60,000 – 20,000 = 1,80,000 6

Maheep’s Executors Account

Date Particulars LF Amount Date Particulars LF Amount
(₹) (₹)
31/03/21 To Balance c/d 1,93,500 30/06/20 By Maheep’s Cap. A/c 1,80,000
31/03/21 Interest (9 months) 13,500
1,93,500 1,93,500
30/06/21 To Bank (I Instalment) 78,000 01/04/21 By Balance b/d 1,93,500
31/03/22 To Balance c/d 1,29,000 30/06/21 By Interest (3 months) 4,500
31/03/22 By Interest (9 months) 9,000
2,07,000 2,07,000
30/06/22 To Bank (II Instalment) 72,000 01/04/22 By Balance b/d 1,29,000
31/03/23 To Balance c/d 64,500 30/06/22 By Interest (3 months) 3,000
31/03/23 By Interest (9 months) 4,500
1,36,500 1,36,500
30/06/23 To Bank (III Instalment) 66,000 01/04/23 By Balance b/d 64,500
30/06/23 By Interest (3 months) 1,500
66,000 66,000

26 Journal Entries in the Books of Panther Ltd. 6

Date Particulars L.F Debit (₹ Credit (₹)
July 1 Bank A/c Dr. 21,60,000
2022 To Debenture Application and Allotment A/c 21,60,000
(Being Application money received)
July 1 Debenture Application and Allotment Dr. 21,60,000
2022 Loss on Issue of Debentures A/c Dr. 3,00,000
To 9% Debentures A/c 20,00,000
To Securities Premium A/c 1,60,000
To Premium on Redemption of Debentures A/c 3,00,000
(Being Debentures issued)
Mar. 31 Debenture Interest A/c Dr. 1,35,000
2022 To Debenture holders A/c 1,35,000
(Being Interest due on debentures)
Mar. 31 Debenture holders A/c Dr. 1,35,000
2022 To Bank A/c 1,35,000
(Being interest paid to debenture holders)
Mar. 31 Statement of Profit and Loss Dr. 1,35,000
2022 To Debenture Interest A/c 1,35,000
(Interest on Debentures charged from Statement of Pnl)
Mar. 31 Securities Premium A/c Dr. 2,40,000
2022 Statement of Profit and Loss Dr. 60,000
 To Loss on Issue of Debentures A/c 3,00,000
(Loss on Issue of Debentures written off)

Loss on Issue of Debentures A/c

Date Particulars Amount Date Particulars Amount
(₹) (₹)
01 July To Premium on Redemption 3,00,000 31 Mar. By Securities Premium A/c 2,40,000
2022 of Debentures A/c 2023 By Statement of Profit and Loss 60,000
3,00,000 3,00,000

Part – B (Analysis of Financial Statements)

27 c). Not Free from Bias 1

OR
c). Loose Tools and Stores and Spares
28 d) Issue of Equity Shares 1
29 c) Statement I is correct, and Statement II is incorrect 1
Or
A. No effect
30 d) ₹ 1,80,000 1
31 S.No. Item Heading Sub-heading 3
i. Loose Tools Current Assets Inventories
ii. Loan repayable on demand Current Liabilities Short Term Borrowings
iii. Provision for Retirement Non-Current Long Term Provisions
benefits Liabilities
iv. Pre-paid Insurance Current Assets Other Current Assets
v. Capital advances Non-Current Assets Long Term Loans and
Advances
vi. Shares in Listed Companies Non-Current Assets Non-Current Investments

32 (a).Current Ratio = Current Assets / Current Liabilities 3

2 = 8,00,000 / Current Liabilities

So, Current Liabilities = ₹ 4,00,000

Liquid Ratio = Liquid Assets / Current Liabilities

1.5 = Liquid Assets / 4,00,000

So, Liquid Assets = ₹ 6,00,000

Inventory = Current Assets - Liquid Assets
Inventory = 8,00,000 – 6,00,000 = ₹ 2,00,000
Inventory Turnover Ratio = Cost of Revenue From Operations / Average Inventory
6 = Cost of Revenue from Operations / 2,00,000

Cost of Revenue from Operations = ₹ 12,00,000

Gross Profit = 25% of Cost i.e ₹ 3,00,000

Revenue From Operations = Cost of Revenue from Operations + Gross Profit = 12,00,000 + 3,00,000
Revenue From Operations = ₹ 15,00,000

(a) Debt to Capital employed ratio = Debt / Capital Employed

 Debt to Capital employed ratio = 7,50,000 / (7,50,000 + 15,00,000) = 7,50,000 / 22,50,000

Debt to Capital employed ratio = 1/3 = 0.33 : 1

33 Common Size Statement of Profit & Loss 4
Particulars 2022-23(₹) 2021-22(₹) % on revenue from % on revenue from
operations (2021-22) operations (2022-23)

Revenue from operations 8,00,000 10,00,000 100 100

Less :- Expenses
Cost of revenue 3,20,000 3,00,000 40 30
Other Expenses 2,20,000 2,60,000 27.5 26
Total Expenses 5,40,000 5,60,000 67.5 56
Profit Before Tax 2,60,000 4,40,000 32.5 44
Less:- Tax 1,30,000 2,20,000 16.25 22
Profits after Tax 1,30,000 2,20,000 16.25 22

OR
Comparative Statement of Profit & Loss
Particulars 2021-22 2022-23 Absolute Proportionate
(₹) (₹) Change (in ₹) Change (in %)
A. Revenue from operations 8,00,000 10,00,000 2,00,000 25
B. Add: Other Income 1,50,000 2,20,000 70,000 46.67
C. Total Revenue (A+B) 9,50,000 12,20,000 2,70,000 28.42
D. Less: Cost of materials 3,00,000 4,00,000 1,00,000 33.33
consumed
Change in inventories of 1,00,000 2,00,000 1,00,000 100
finished goods and work
in progress
Other Expenses 80,000 1,50,000 70,000 87.5
Total Expenses 4,80,000 7,50,000 2,70,000 56.25
E. Profits before Tax (C-D) 4,70,000 4,70,000 -- --
F. Tax Rate 1,41,000 1,41,000 -- --
G. Profits after Tax (E-F) 3,29,000 3,29,000 -- --

34 6
Cash Flow Statement for the year ended March 31, 2023
Particulars Details Amount (₹)
Cash from Operating Activities
Profits before Tax and Extraordinary Activities 1,07,000
Add :- Non-Cash and Non-Operating Expenses
Depreciation on Plant and Machinery 1,20,000
Interest on Debentures 10,000
Cash from Operating Activities before working capital changes 2,37,000
Increase in Trade Payables 18,000
Decrease in Trade Receivable 1,74,000
Increase in Inventory (2,07,000)
Cash from Operations 2,22,000
Less :- Tax Paid (15,000)
Cash from Operating Activities (A) 2,07,000
Cash from Investing Activities
Sale of Investments 40,000
 Purchase of Investments (70,000)
Purchase of Plant and Machinery (4,05,000)
Cash from Investing Activities (B) (4,35,000)
Cash from Financing Activities
Issue of Shares 2,00,000
Issue of Debentures 50,000
Interest on Debentures (10,000)
Cash from Financing Activities (C) 2,40,000
Net Cash Flow during the year (A+B+C) 12,000
Add :- Opening Cash and Cash Equivalents 33,000
Closing Cash and Cash Equivalents 45,000

Working Notes :-
Plant and Machinery Account
Particulars Amount (₹) Particulars Amount (₹)

Balance b/d 4,90,000 Depreciation A/c 1,20,000

Bank (Purchase) 4,05,000 Balance c/d 7,75,000
8,95,000 8,95,000

Investments Account
Particulars Amount (₹) Particulars Amount (₹)
Balance b/d 50,000 Bank A/c (sale) 40,000
Gain on Sale (Capital Reserve) 10,000 Balance c/d 90,000
Bank (Purchase) 70,000
1,30,000 1,30,000

Provision for Tax Account

Particulars Amount (₹) Particulars Amount (₹)
Bank (Paid) 15,000 Balance b/d 28,000
Balance c/d 30,000 Statement of Profit and Loss 17,000
45,000 45,000

Net Profits after Tax and Extraordinary Items = 20,000

+ Transfer to General Reserve = 70,000
+ Provision for Tax = 17,000
= Net Profits before Tax and Extraordinary Items = 1,07,000

Computerised Accounting
27 d) =AND (C3<10, D4,200) 1
28 c) [Home] 1
Or
a) SUM and AVERAGE
29 (b) Financial 1
30 a). PMT (rate, nper, pv, [fv], [type]) 1
Or
b) Design, Layout, Format
31 The points to be considered before making investment in a database: (any three) 3
(i) What all data is to be stored in the database?
(ii) Who will capture or modify the data, and how frequently the data will be modified?
(iii) Who will be using the database, and what all tasks will they perform?
(iv) Will the database ( backend) be used by any other frontend application?
(v) Will access to database be given over LAN/ Internet, and for what purposes?
 (vi) What level of hardware and operating system is available?
32 Types of Accounting Vouchers 3
(i) Contra Vouchers
(ii) Payments Vouchers
(iii) Receipt Vouchers
33 Uses of conditional formatting: 4
(i) It helps in making needed information highlighted.
(ii) It changes the appearance of cells ranges.
(iii) Color scale may be used to highlight cells.
(iv) useful in making decision making.
Or
Features of computerized accounting system:
(i) Simple and integrated.
(ii) Transparency and control.
(iii) Accuracy and speed.
(iv) Scalability.
(v) Reliability.
34 Two basic methods of charging depreciation are: 6
Straight line method: This method calculates fixed amount of depreciation every year which is
calculated keeping in view the useful life of assets and its salvage value at the end of its useful life.
Written down value method: This method uses current book value of the asset for computing the
amount of depreciation for the next period. It is also known as declining balance method.
Differences:
1. Equal amount of depreciation is charged in straight line method. Amount of depreciation
goes on decreasing every year in written down value method.
2. Depreciation is charged on original cost in straight line method. The amount is calculated
on the book value every year.
3. In straight line method the value of asset can come to zero but in written down value
method this can never be zero.
4. Generally rate of depreciation is low in case of straight line method but it is kept high in
case of written down value method.
5. It is suitable for assets in which repair charges are less and the possibility of obsolescence is
less. It is suitable for the assets which become obsolete due to changes in technology.
 Class -XII
SUBJECT: ACCOUNTANCY
CASE STUDY 1
Read the following hypothetical text and answer the given questions:
Amit and Mahesh were partners in a fast-food corner sharing profits and losses in ratio 3:2. They
sold fast food items across the counter and did home delivery too. Their initial fixed capital
contribution was ₹1,20,000 and ₹80,000 respectively.

At the end of first year their profit was ₹ 1,20,000 before allowing the remuneration of ₹.3,000
per quarter to Amit and ₹.2,000 per half year to Mahesh. Such a promising performance for first
year was encouraging, therefore, they decided to expand the area of operations.

For this purpose, they needed a delivery van, a few Scotties and an additional person to support.
Six months into the accounting year they decided to admit Sundaram as a new partner and offered
him 20% as a share of profits along with monthly remuneration of ₹ 2,500. Sundaram was asked
to introduce ₹1,30,000 for capital and ₹.70,000 for premium for goodwill. Besides this Sundaram
was required to provide Rs.1,00,000 as loan for two years.

Sundaram readily accepted the offer. The terms of the offer were duly executed and he was
admitted as a partner.
1 Remuneration will be transferred to _______________ of Amit and Mahesh at the end of the
accounting period.
a. Capital account.
b. Loan account.
c. Current account.
d. None of the above.
2 Upon the admission of Sundaram the sacrifice for providing his share of profits would be done:
(a) by Amit only.
(b) by Mahesh only.
(c) by Amit and Mahesh equally.
(d) by Amit and Mahesh in the ratio of 3:2.
3 Sundaram will be entitled to a remuneration of _____________at the end of the year.

4 While taking up the accounting procedure for this reconstitution the accountant of the firm Mr.
Suraj Marwaha faced a difficulty. Solve it be answering the following:

For the amount of loan that Sundaram has agreed to provide, he is entitled to interest thereon at
the rate of ____________.
 CASE STUDY 2
Read the following hypothetical text and answer the given questions:
Dr. Rajani Mehta a qualified M.B.B.S. doctor got voluntary retirement at the age of 50 years from a
renowned hospital. She was residing in a flat of a wide apartment which is surrounded by a slum
which is inhabited by economically weaker strata of the society. As the people in that area were not
aware about importance of health care, a widespread ailment had been persistently prevailing.
Rajani met with some of the well-off people of apartment and decided to open a dispensary named
as `LOCAL Clinic’ to provide them cost free medical assistance and make them aware about
hygienic living, physical fitness, and economic balance diet. Many of the apartment members
agreed to it. She approached health department of the town with her proposal which was accepted
and an initial one time grant of ₹.2,00,000 was sanctioned immediately for purchase of medical
equipment and test kits for pathological tests. 10 members of the apartment contributed ₹.20,000
each as lifetime subscription to the clinic. Rajni decided to charge ₹10 as one time registration fee
from patients. Apart from above Rajni made following transactions for first year:
S. No. Particulars Amount in (₹)
1 Purchased Equipment 1,20,000
2 Purchased Medicines 95,000
3 Purchased Furniture 10,000
4 Rent paid 12,000
5 Fee received for medical tests 45,000
6 Honorarium paid to Yoga teacher 35,000
7 Honorarium paid to physiotherapist and sports teacher 38,000
Rajni informed that during the first year 10,500 patients were registered for treatment and for other
services. Taking reference from the above, answer following questions.
1 Not for profit organization prepares
(i) Income and Expenditure account
(ii) Trading and Profit loss account
(iii) Receipt and Payment account
(iv) None of the above
Options:
(a) Only (ii)
(b) Only (iii)
(c) Both (i) and (ii)
(d) Both (i) and (iii)
2 Honorarium paid to Physiotherapist and sports teacher Will be posted to
(a) Debit side of Income and Expenditure Account.
(b) Debit side of Receipt and Payment Account.
(c) Debit side of Profit and Loss Account.
(d) Credit side of Income And Expenditure account
3 State whether the following statements are true or false:
“Donations received by Ms Rajani Mehta from health department should be capitalized.”
4 Lifetime subscription paid by 10 members will be posted in
(a) Expenditure side of Income and Expenditure Account
(b) Liability side of closing Balance Sheet
(c) Income side of Income and Expenditure Account
(d) Assets side of closing Balance Sheet
 CASE STUDY – 3

Read the following hypothetical text and answer the given questions on the basis of the same:
Krishika an alumni of IIM Ahemdabad initiated her startup Krishika Ltd. in 2018. The profits of
Krishika Ltd. in the year 2019-20 after all appropriations was ₹ 31,25,000. This profit was arrived
after taking into consideration the following items:-
S. No. Particulars Amount (in ₹)
1. Gain on sale of fixed tangible assets 12,50,000
2. Goodwill written off 7,80,000
3. Transfer to General Reserve 8,75,000
4. Provision for taxation 4,37,500

Additional Information:-
Particulars 31.03.2020 (in ₹) 31.03.2019 (in ₹)
Prepaid Expenses 7,50,000 5,00,000
Inventory 10,50,000 8,20,000
Trade Payables 4,50,000 3,50,000
Trade Receivables 6,20,000 5,90,000
1 Net Profit before tax will be ₹……………………………. (Choose the correct alternative)
(a)22,50,000 (b) 35,62,500 (c) 39,67,500 (d) 44,37,500
2 Operating profit before working capital changes will be ₹…………………… (Choose the correct
alternative)
(a) 52,17,500 (b) 64,67,500 (c) 39,67,500 (d) 39,69,500
3 Cash from operating activities before tax will be₹…………………… (Choose the correct alternative)
(a) 35,57,500 (b) 40,67,500 (c) 37,87,500 (d) 35,67,300
4 Cash flow from Operating Activities will be₹…………………… (Choose the correct alternative)
(a) 39,95,000 (b) 31,20,000 (c) 40,67,500 (d) 31,00,000
 CASE STUDY – 4

Read the following hypothetical extract of Rehan Limited and answer the given
questions on the basis of the same:

YEAR 2020 2019 2018

AMOUNT (IN ₹) (IN ₹) (IN ₹)
Outstanding Expenses 50,000 40,000 25,000
Prepaid Expenses 3,00,000 2,50,000 3,50,000
Trade Payables 18,00,000 16,00,000 14,00,000
Inventory 12,00,000 10,00,000 11,00,000
Trade Receivables 11,00,000 8,00,000 10,00,000
Cash in hand 17,00,000 12,00,000 15,00,000
Revenue from operations 24,00,000 18,00,000 20,00,000
Gross Profit Ratio 12% 15% 18%

1 Current Ratio for the year 2020 will be_______________ (Choose the correct
alternative)
(a) 2:1 (b) 1.8:1 (c) 2.32:1 (d) 2.4:1

2 Quick Ratio for the year 2018 will be______________(Choose the correct alternative)
(a) 1.75:1 (b) 1.8:1 (c) 0.94:1 (d) 1.25:1

3 Inventory turnover ratio for the year 2020 will be______(Choose the correct alternative)
(a) 1.62times (b) 1.82 times (c) 1.55times (d) 1.92 times

4. Cost of Revenue from Operations for the year 2020 would be _____________________
(Choose the correct alternative)

(a) ₹21,12,000 (b) ₹21,13,000 (c) ₹21,15,000 (d) ₹21,17,000

 CASE STUDY – 5

Talent sports Club is engaged in the activity of identifying and promoting sports talent
from rural and tribal areas of the country. Identifying with this Noble cause Mr Manohar
a renowned industrialist donated ₹ 50,00,000 on 1stJuly 2020, for the construction of a
new hostel and mess for upcoming sportsmen.

Besides this Mr Manohar offered the services of his personal chartered accountant,free of
charge, to streamline the account of Total Sports Club. The chartered accountant visited
the office of the NPO on 31st March 2021 and found that till date rupees 35,00,000 had
been spent on construction of hostel and mess building. he also noted that the NPO had a
capital fund of Rs.1,20,00,000 in the beginning of the year. Other important points that
he noted were that NPO had 2000 regular members each having an annual subscription
of Rs.2000 per annum.

On 1stApril 2020, 180 members had not paid for subscription of previous year and 20
members had paid for 2020-2021 in advance (out of which 5 had paid advance of2021-
2022 as well)

31st March 2021, 110 Members he had outstanding balance (hey including 50 who had
not paid for 2019-20 as well) and 25 members had paid for 2021- 2022 in advance
(including all 5 who had paid in advance in 2019-20)

Since the accountant of NPO was not clear about how to deal with all the above
information he drafted a set of questions for guidance.

Considering that you are the Chartered Accountant of Mr. Manohar answer the following
questions based on the information detailed above.

1 The amount of Rs. 50,00,000 received from Mr Manohar towards building and mess
should be transferred to
a. Capital fund
b. General fund
c. Income and Expenditure account
d. Building fund
2 The amount of Rs. 35,00,000 spent on construction of building should be:
I. reflected on debit side of income and expenditure account as an expense.
II. reflected on asset side of balance sheet.
III. reflected as a deduction from Building fund and addition to capital fund.
IV. Not be recorded till the building is complete.

On basis of given information choose which of the following stands true

a. Only IV
b. BothI and IV
c. Both II and III
d. None of these
3 The amount of subscription in arears on 1st April 2020 is:
a. ₹ 3,60,000
b. ₹ 3,00,000
c. ₹ 2,000
 d. ₹ 1,80,000
4. The amount of subscription in arears on 31st March 2021 is:
a. ₹ 2,20,000
b. ₹ 3,60,000
c. ₹ 3,20,000
d. ₹ 1,80,000
5. The amount of subscription in advance on 31st March 2021 is:
a. ₹ 40,000
b. ₹ 50,000
c. ₹ 10,000
d. None of these

6. The amount of subscription to be transferred to income and expenditure account for the
year ended 31st March 2021 is:
a. ₹ 40,00,000
b. ₹ 20,00,000
c. ₹ 43,20,000
d. ₹ 43,60,000
 CASE STUDY – 6
Nidiya limited was incorporated on 1stApril 2017 with registered office in Mumbai. The
capital clause of memorandum of Association reflected a registered capital of 8,00,000
equity shares of Rs.10 each and 1,00,000 preference shares of Rs.50 each.

Since some large investments were required for building and machinery the company in
consultation with vendors,Ms.VPS Enterprises, issued 1,00,000 equity shares and 20,000
preference shares at par to them in full consideration of assets acquired. Besides this the
company issued 2,00,000 equity shares for cash at par payable as Rs 3 on application, 2
on allotment, 3 on first call and 2 on second call.

Till date second call has not yet been made and all the shareholders have paid except Mr.
Ajay who did not pay allotment and calls on his 300 shares and Mr. Vipul who did not
pay first call on his 200 shares. Shares of Mr. Ajay were then forfeited and out of them
100 shares were reissued at Rs.12 per share.

Based on above information you are required to answer the following questions.
1 Shares issue to vendors of building and machinery, Ms. VPS Enterprises, would be
classified as:
a. Preferential Allotment
b. Employee Stock Option Plan
c. Issue for Consideration other than cash
d. Right Issue of Shares
2 How many equity shares of the company have been subscribed?
a. 3,00,000
b. 2,99,500
c. 2,99,800
d. None of these
3 What is the amount of security premium reflected in the balance sheet at the end of the
year?
a. ₹200
b. ₹600
c. ₹400
d. ₹ 1,000
4 What amount of share forfeiture would be reflected in the balance sheet?
a. ₹600
b. ₹900
c. ₹200
d. ₹ 300
 CASE STUDY – 7
Sterlingenterprises is a partnership business with Ryan, Williams and Sania as partners
engaged in production and sales of electrical items and equipment.

Their capital contributions were Rs.50,00,000, Rs.50,00,000 and Rs.80,00,000

respectively with the profit the sharing ratio of 5:5:8. As they are now looking forward to
expanding their business, it was decided that they would bring in sufficient cash to
double their respective capitals.

This was duly followed by Ryan and Williams but due to unavoidable reasons Sania
could not do so and ultimately it was agreed that to bridge the shortfall in the required
capital a new partner should be admitted who would bring in the amount that Sania could
not bring and that the new partner would get share of profits equal to half of Sania’s
share which would be sacrificed by Sania only.

Consequent to this agreement Ejaz was admitted and he brought in the required capital
and Rs.30,00,000 as premium for goodwill.

Based on the above information you are required to answer the following questions.

1 What will be the new profit-sharing ratio of Ryan, Williams, Sania and Ejaz?
(a) 1:1:1:1
(b) 5:5:8:8
(c) 5:5:4:4
(d) None of the above
2 What is the amount of capital brought in by the new partner Ejaz?
(a) Rs.50,00,000
(b) Rs.80,00,000
(c) Rs.40,00,000
(d) Rs.30,00,000
3 What is the value of the goodwill of the firm?
(a) Rs.1,35,00,000
(b) Rs.30,00,000
(c) Rs.1,50,00,000
(d) Cannot be determined from the given data.
4 What will be correct journal entry for distribution of Premium for Goodwill brought in
by Ejaz?
(i) Ejaz Capital A/c ……………...Dr. 30,00,000
To Sania’s Capital A/c 30,00,000
(Being…………………………..)

(ii) Premium for Goodwill A/c……Dr. 30,00,000

To Sania’s Capital A/c 30,00,000
(Being…………………………..)

(iii) Premium for Goodwill A/c……Dr 30,00,000

To Reyan’s Capital A/c 8,33,333
To William’s Capital A/c 8,33,333
 To Ejaz’s Capital A/c 13,33,333
(Being…………………………..)

(iv) Premium for Goodwill A/c……Dr 30,00,000

To Reyan’s Capital A/c 10,00,000
To William’s Capital A/c 10,00,000
To Ejaz’s Capital A/c 10,00,000
(Being…………………………..)
 CASE STUDY – 8
VIJAYA SHANKAR, an Ex-Indian cricketer decided to start a cricket academy to train
the young enthusiastic players of down south. With the support and guidance of his
family he started the Star cricket academy at Tirunelveli township area on 1st April 2020.

Land was donated by his grandfather worth Rs. 10,00,000 as per his will. His father
Shankar donated Rs.5,00,000 for the construction and running the academy. He spent
Rs.3,00,000 for construction of the pavilion. 200 players of Tirunelveli joined the
academy and they paid yearly subscription of Rs.1200 each. 10 players paid in advance
for the next year 2021 -22. Vijayashankar appointed well experienced coach for them,
the coach fee amounted to Rs. 1,20,000 p.a.

The maintenance expenses amounted to Rs.75,000. Bats and balls purchased during the
year amounted to Rs.15,000. Closing stock of bats and ball amount to Rs.1000.

Based on the above information you are required to answer the following question.
1 What is the Primary source of income for the academy?

2 The amount of subscription to be credited to income and expenditure account-------------

3 How will you treat the land donated by his grandfather?

4 The liability towards advance subscription amounted to:

(a) Rs. 12,000
(b) Rs.24,000
(c) Rs.1,200
(d) Rs.1,20,000

5 The amount of subscription received as per Receipts and payments Account of Star
cricket club is:

(a) Rs.2,52,000
(b) Rs.2,40,000
(c) Rs.2,50,000
(d) None of the above

6 What amount should be charged to the Income and Expenditure account for bats and
balls consumed during the year?

(a) Rs.15,000
(b) Rs.16,000
(c) Rs.14,000
(d) Rs.13,500
 Class –XII
Subject: ACCOUNTANCY
CASE STUDY 1
1 (c) Current Account
2 (d) By Amit and Mahesh in the ratio of 3:2
3 Rs.15,000
4 6% p.a.
CASE STUDY 2
1 (d) Both (i) and (iii)
2 (a) Debit side of Income and Expenditure Account.
3 True
4 (b) Liability side of closing Balance Sheet
CASE STUDY – 3

1 (d) 44,37,500
2 (c) 39,67,500
3 (a) 35,57,500
4 (b) 31,20,000

CASE STUDY – 4
1 (c) 2.32:1
2 (b) 1.75:1
3 (d) 1.92 times
4 (a) ₹21,12,000

Case Study – 5

1 (d) Building Fund

2 ( c) Both II and III
3 (a) Rs. 3,60,000
4 ( c) Rs.3,20,000
5 (b) Rs.50,000
6 (a) Rs.40,00,000
 Case Study – 6
1 ( c) Issue for consideration other than cash.
2 ( c) Rs.2,99,800
3 ( c) Rs.400
4 (a) Rs. 600

Case Study – 7
1 ( c) 5:5:4:4
2 (b) Rs.80,00,000
3 (a) Rs.1,35,00,000
4 (b) Premium for Goodwill A/c…………….Dr 30,00,000
To Sania’s Capital A/c 30,00,000

Case Study - 8

1 Subscription
2 Rs.2,40,000
3 Vijaya Shankar’s grandfather donated a land for cricket coaching which is to be treated as legacy
and is to be capitalized.
4 (a) Rs.12,000
5 (a) Rs.2,52,000
6 ( c) Rs.14,000
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