Series EF1GH/4 SET~3

D
Q.P. Code 67/4/3
Roll No.

Candidates must write the Q.P. Code on :

:the title page of the answer-book.

ACCOUNTANCY

HfersAH 3Je5:80
Time allowed : 3 hours Maximum Marks: 80

/NOTE:

Please check that this question paper contains 39 printed pages.

()
the title:
Q.P. Code given on the right hand side of the question paper should be written on
pageof the answer-book by the candidate.

Please check that this question paper contains 34 questions.

answer-book before:
Please write down the serial number of the question in the
attempting it.

question paper will be:

15 minute time has been allotted to read this question paper. The
the students will read the:
distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m.,
answer-book during this period.
question paper only and will not write any answer on the
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67/4/3 Page 1
 GeneralInstructions :
strictly follow them :
eda the following instructions verycarefully and
(i) This question paper contains 34 questions. Allquestons are compulsory,
(i) Part A and Part B.
This question paper is divided into two parts
(ii) Part A is compulsory for allcandidates.
(iv) Part B has two options i.e. () Analysis of Financial Statements, and
(2) Computerised Accounting. Candidates must attempt only one of the given
options as per the subject opted in Part B.
(v) Questions no. Ito 16 and 27 to 30 carry Inark each.
(vi) Questions no. 17 to 20, 31 and 32 carry 3 marks each.
(viü) Questions no. 21, 22and 33 carry 4marks each.
(vii) Questions no. 23 to 26 and 34 carry6 marks each.
(ix) There is no overall choice. However, an internal choice has been provided in
7questions of one mark, 2 questions of three marks, l question of four marks
and 2 questions ofsix marks.

PART A
(Accounting for Partnership Firms and Companies)

1. Sujata Ltd. issued 5,000, 7% Debentures of 100 each at a premium of

10%.According to the terms of issue,40% of the amount was payable on
application and the balance on allotment. The issue was fully subscribed
and all amounts were duly received. The amounts received on application
1
and allotment respectively were :
(a) 2,50,000 and 3,00,000
(b) F 2,00,000 and 3,00,000
(c) 7 2,00,000 and 3,50,000
(d) 2,00,000 and 2,50,000

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 and losses
2. (i) Ria and Surbhi were partners in a firm sharing profits
in the ratio of 3: 2. With effect from 1s April, 2022, they agreed to
was valued at
share profits equally. The goodwill of the firm
which of the following
F 3.00,000. The adjustment will be done by
transaction ?
Debiting Surbhi's account by 30,000 and crediting Ria's
(a)
account by 30,000.
Surbhi's
(b) Debiting Ria's account by 30,000 and crediting
account by 30,000.
crediting Ria's
(c) Debiting Surbhi's account by 3,000 and
account by 3,000.
Surbhis
(d) Debiting Ria's account by 3,000 and crediting
account by 3,000.
OR
a firm sharing profits
(i1) Naman, Suman and Mohit were partners in
April, 2022, they decided
in the ratio 8:5:3. With effect from 1st
profits in the ratio 5: 6 : 5.
that in future, they will share the
partners due to change in
Identify the gain or sacrifice by the 1
profit sharing ratio, from the following: 1 2
3 Suman's sacrifice Mohit's sacrifice
(a) Naman's gain 16 16
16
3 1
Naman's sacrifice ,Suman's gain Mohit's gain 16
(b) 16 16
2 1
3 Mohit's gain
(c) Naman's sacrifice Suman's gain 16 16
16
2 1
Mohit's sacrifice
(d) Naman's gain Suman's sacrifiçe 16 16
16

can be called up only at the time of

3. Part of the uncalled share capital that
winding up of the company is called :
(a) Issued capital
(b) Paid-up capital
(c) Reserve capital
(d) Un-issued capital
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67/4/3
 in the Balance
firm, furniture appearing by a partner
partnership over
4. On dissolution of a the furniture was taken the book value.
2,00,000. 50% of less than
Sheet was
50% was sold at 20%o
at 65,000 and balance :
bank account was
The anmount debited to F 80,000
(b)
(a) 1,45,000 1,85,000
(c) T 65,000 (d)

eguity shares of 10 each issued at a

Ghavi Ltd. forfeited 5.000 4
first and final call of ?
5.
non-payment of
Poum of < 5 per share for Account' will be credited by :
Forfeiture
per share. On forfeiture, Share
(b) 30,000
(a) 20,000
(c) T 50,000 (d) 55,000
questions numbe
Kead the following hypothetical situation and answer
6 and 7 on the basis of the given information :
Keshav, Krishna and Murari were in partnership sharing profits and
losses in the ratio of 3:2: 1. Their fixed capitals were : 12,00,000,
? 10,00,000 and 8,00,000 respectively. It was agreed that interest on
capital will be allowed at 10% per annum. Partners were emtitled to
salaries as follows :
Keshav 5,000per month and Krishna 3,000 per quarter.
Profit of the firm for the year énded 31st March, 2022 was 6,72,000.
6. Amount credited to the Partners' Current Accounts on account of interest
on capital' and 'salary' was 1
(a) Keshav 120,000, Krishna 1,00,000 and Murari 80,000
(b) Keshav 1,80,000, Krishna 1,12,000 and Murari 80,000
(c) Keshav 60,000, Krishna 12,000 and Murari Nil
(d) Keshav 3,30,000, Krishna 2,12,000 and Murari 1,30,000
7. Amount of profit transferred to Partners' Current Accounts was :
(a) Keshav 1,00,000, Krishna 1,50,000 and Murari 50,000
(b) Keshav 50,000, Krishna 1,50,000 and Murari 1,00,000
(c) Keshav 1,50,000, Krishna 1,00,000 and Murari 50,000
(d) Keshav 1,51,500, Krishna 1,01,000 and Murari 50,500
67/4/3 Page 7 P.T.0.
 the
firn sharing profits in
partners in a Sonu
Monu and Sonu were January, 2022. Anu and 1
Monu died on 1st
8. (i) Anu,
5: 3: 2.
ratio of
Monu's share in the ratio of:
willacquire (b) 3:2

(a) 1:1 (d) 5:2

(c) 5:3
OR firm sharing profits in
partners in a up
Sumit and Mita were entire share was taken 1
Vidit, and her
(iü)
of 4 :3:1. Mita died Vidit and Sumit will be :
the ratio ratio of
The new profit sharing
by Vidit. (b) 5:3
(a) 1:1
(d) 5:2
3:5
(c)
The partnership agreement
are partners in a firm. annum. Which of the
Vijay and Ajay @ 12% per drawings to.
9.
for interest on drawings transfer interest on 1
provides
account will be debited to
following A/c ?
Appropriation
Profit and Loss Account
(a) Interest on Drawings
Bank Account
(b) Partners' Current Account
(c) Partners' Capital Account
(d)
applications for issuing 50,000 equity
(i) Manmohan Ltd. invited The amount payable per share was as
10.
shares of 10 each at par.
and final
follows: 4 and on first
On application 3; on allotment
call 3.
1,45,000 equity shares. Applications
Applications were received for
shares were rejected and remaining applicants
for 20,000equity pro-rata basis. Excess application money
were allotted shares on a towards sums due on
was adjusted
received with application final call.
Amount credited to
allotment and first and
calls-in-advance acçount was:
(b) F 25,000
(a) 2,25,000
(d) Nil
(c) 1,75,000
OR
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Page 9
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 subscribed
regarding
correct
statement is company is
following which a
(i)
Which of the share
capital Association.
capital? amount of Memorandum of actuallyissued
is the 'byits which is
(a) Itauthorisedtoissue authorised capital actually
that part ofsubscription. which has been
(b) It is publicfor issued capital
tothe part ofthe been
It is that public. capital which has
(c) subscribed by the the called-up
that part of shareholders.
(d) It is received from
actually each at a
debentures of 100
issued 2.00.000,7% 5%. Discount on issue
()
Anuradha Ltd. redeemable at a premium of through 'Loss on
11. for
discount of 5% redemptionwere accounteddebentures, Loss on
on On issue of
and premium
Debentures Account.'
Issue of Account' will be:
Issue of Debentures
Credited by 10,00,000
(a)
Debited by 10,00,000
(b)
Debited by 20,00,000
(c)
Credited by 20,00,000
(d)
OR Debentures of 100 each at a
4.000, 9% Discount on Issue of
(ii) Diksha Ltd. issued a premium.
redeemable at were
discount of 10%,
on Redemption of Debentures'
Debentures' and Premium Issue of Debentures Account'. If the
Loss on 60,000,
accounted for through Account' was
of Loss on Issue of Debentures 1
amount redemption was :
premium on
then the amount of
(b) 40,000
(a) 60,000
(d) F 80,000
(c) F 20,000
Naresh had
of Ramesh, Suresh and Naresh,
On dissolution of the
firm paid 14,500.
12. realisation expenses for which he was
agreed to bear all amounted to 11,000 which were paid by
realisation
Actual expenses on capital account will be:
Naresh's
1
Náresh. The amount to be credited to
(b) 3,500
(a) 11,000
(d) F 25,500
(c) F 14,500
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 partner, advanced a loan of
13. (i) On 1st October 2020, Amit, a
absence of partnership deed, the
? 1,20,000 to the firm. In the 1
of interest on loan to be paid on 31st March, 2021 will be :
amount
(b) 7,200
(a) 7 3,600
(d) 6,000
(c) 7 12,000
OR
profits and
and Sanjay are partners in a firm sharing
(ii) Vijay, Ajay His
ratio of 7:5:8. Sanjay died on 28th August, 2021.
losses in the death was
profits of the firm till the date of his
share in the following
which ofthe
determined at 75,000. It will be debited to
accounts ?
Account
(a) Profit and Loss Suspense
(b) Profit and Loss Account
Account
(c) Profit and Loss Appropriation
Account
(d) Profit and Loss Adjustment

a
the value of liabilities on reconstitution of
Assertion (A): Increase in
14.
Revaluation Account.
firm is debited to
a loss.
the value of liabilities is
Reason (R): Increase in
from the following :
Select the correct alternative
wrong.
(a) Assertion (A) is correct, but Reason (R) is
is correct.
(b) Assertion (A) is wrong,but Reason (R)
is
ASsertion (A) and Reason (R) are correct and Reason (R)
(c) Both
Assertion (A).
the correct explanation of
(d) Both Assertion (A) and Reason (R) are wrong.
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67/4/3 Page 13
 basis of 3years purchase of
15. The goodwill of a firnm was valued on the
four years
average profits for the last four years. The profits of last
ending 31st March were as follows:
Year Profit/LOSs (T)
2018 - 19 (14,500)
2019 - 20 15,400
2020 - 21 32,900
2021 - 22 16,800
The value of goodwill of the firm was: 1

(a) 8,885
(b) 737,950
(c) 58,950
(d) 20,690

16. Niva, Naman and Nityam were partners sharing profits in the ratio of
1
4:3: 2. Niva and Naman each give from their share to Nityam on
9
reconstitution of the firm. The new profit sharing ratio among Niva,
Naman and Nityam will be:
(a) 3:4:2
(b) 2:3:4
(c) 4:2:3
(d) .3:2:4
17. Mahesh and Suresh were partners in a firm sharing profits and losses in
the ratio of 2: 1. They decided to admit Nita into partnership with 1th
4
share in the profits. Nita brought 2,00,000 for her capital and the
requisite amount of goodwill premium in cash. The goodwillof the firm is
valued at 12,00,000. The new profit sharing ratio of the partners is

2:1:1. Mahesh and Suresh withdraw their share of goodwill.

firm for the above
Pass necessary journal entries in the books of the 3
transactions.
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67/4/3 Page 15
18. (a) On 1s April, 2021, Hitesh Ltd.
took over assets of 8,00,000 and
liabilities of 40,000 of Pranjal Ltd. at an agreed
? 8,30,000. Hitesh Ltd. paid the value of
amount to Pranjal Ltd. as
follows :
(i) Gave an acceptance payable after 3 months for 2,00,000,
and

(ii) Issued 10% Debentures of 100 each at a discount of 10%

to Pranjal Ltd. in satisfaction of the balance amount of
purchase consideration.
Pass the necessary journal entries to record the above transaction
in the books of Hitesh Ltd.
OR

(b) Disha Ltd. forfeited 500 shares of 100 each issued at 10%
premium, 90 called up, on which the shareholders did not pay
7 30 per share on allotment (including premium) and first call of
20 per share. Out of these, 300 shares were reissued for 80
per share, fully paid up.
Pass necessary journal entries for forfeiture and reissue of shares. 3

19. (a) Monika, Bhoomika and Kamolika are partners sharing profits in
the ratio of 6:4:1. Kamolika isguaranteed a minimum amount of
3,00,000as her share in profits. The firm earned anet profit of
22,00,000 for the year ended 31st March 2022.
Prepare Profit and Loss Appropriation Account of the firm for the
year ended 31st March, 2022. 3

OR

67/4/3 Page 17 P.T.O.

 capitals
(b) Ananya, Bhavi and Chandni were partners in a firm with
of 3,00,000, 2,00,000 and 1,00,000 respectively.
According to the provisions of the partnership deed:
(1) Ananya and Chandni were each entitled to a monthly salary
of 1,500.
(ii) Bhaviwas entitled to a salary of 4,000 per annum.
The profit for the year ended 31st March, 2022, 80,000 was
divided between the partners in their profit sharing ratio of 3: 3 :2
without providing for the above adjustments.
Pass the necessary adjustment entry to rectify the above omissions
in the books of the firm. Show your working notes clearly. 3

20. Aditi, Bobby and Krish were partners in a firm sharing profits and losses
in the ratio of 5:3: 2. Their capitals were 5,00,000, 4,00,000 and
* 2,00,000 respectively. The partnership deed provided for the following :
(a) Interest on capital @ 10% per annum.
(6) Interest on drawings @6% per annum.
(c) Interest on partner's loan to the firmn @ 9% per annum.

During the year, Aditi had withdrawn 60,000 and Bobby 50,000.
On 1S September, 2021, Krish had given a loan of T 40,000 to the firm.
Pass necessary journal entries in the books of the firm for the following
transactions for the year ended 318t March, 2022:
(i) Allowing interest on Bobby's capital.
(ii) Charging interest on Aditi's drawings.
(iii) Providing interest on Krish's loan to the firm.
Also pass transfer entries in the Profit and ILoss Account/Profit and Loss
Appropriation Account, as the case may be.

67/4/3 Page 19 P.T.0.

21.
Prakash, Aakash and Vikas were partners in a business sharing
in the
profits
ratio of 2:2:1. Their Balance Sheet as at 31st March, 2022 was as
follows:

Balance Sheet of Prakash, Aakash and Vikas as at 31st March, 2022

Amount Amount
Liabilities Assets

Creditors 2,00,000 Bank 40,000

General Reserve 1,00,000 Stock 60,000
Debtors 1,60,000
Investments 1,40,000
Capitals :
Prakash 1,20,000 Furniture 70,000
Aakash 2,00,000 Building 2,30,000
Vikas 80,000 4,00,000
7,00,000 7,00,000

of a partner the
Vikas died on 30th September, 2022. On the death
partnership deed provided for the following:
profit up to the
(i) Deceased partner will be entitled to his share of
year's profit.
date of death calculated on the basis of previous
calculated on the basis of
(ii) His share in the Goodwill of the firm,
profits of last four years. Profits for
3years purchase of average
were as follows :
last four years ended 31st March
21, * 80,000
2018 19, 1,60,000; 2019 20, 7 1,00,000; 2020
and 2021 - 22, 60,000.
to the date of death were
(iii) Drawings of the deceased partner up
20,000.
annum.
(iv) Interest on capital was allowed@ 12% per
4
rendered to hisexecutors.
Prepare Vikas's Capital account to be
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67/4/3
 of 20,00,000 divided into equity
capital
22. Sunstar Ld. has an authorised applications for issuing 60,000
company invited
shares of 10cach. The
Applications were received for 58,000 shares.
shares.
were duly received except the final callof3
All calls were made and forfeited.
These shares were
per share on 2,000shares.
Balance Sheet of the Company as per
Present the 'Share Capital' in the
2013. AlsO prepare Notes to
Schedule III, Part Iof the Companies Act, 4
Accounts' for the same.

following transactions on the

23. Pass necessary journal entries for the
cash) and outside
dissolution of a firm after various assets (other than
6
liabilities have been transferred to Realisation Account :
paid
(i) Realisation expenses of the firm amounting to 2,600 were
by partner, Aman.
(iü) A creditor of 4,500 took over stock valued at 5,200 in full
settlement.
(iii) An unrecorded asset realised 3,500.
(iv) Remaining creditors amounting to 20,000 were paid at a
discount of 5%.
(v) Remaining stock of 30,000 was taken over by Bimal, a partner,
at a discount of 20%.
Investment whose face value was 10,000 was realised at 40%.
(vi)

debentures in the
24. Pass the necessary journal entries for the issue of
books of Amrit Ltd. for the following transactions :
of
(i) Issued 10,00,000, 9% Debentures of 100 each at a discount
10%, redeemable at a premium of 5% after three years.
Issued 30,00,000, 8% Debentures of 100 each at par,
(ii)
redeemable at a premium of 5%.

(iii) Issued 6,000, 9% Debentures of 100 each at a premium of 10%,

6
redeemable at a premium of 5%.
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67/4/3 Page.23
25. (a) Bhumi and Chavi were partners in a firm
sharing profits and
losses in the ratio of 5 : 3. They admitted Aditi in the firm on
1st April, 2022. On that date their Balance Sheet was as follows :
Balance Sheet of Bhumi and Chavi as at 1st April, 2022
Amount Amount
Liabilities Assets

Capitals : Machinery 3,80,000

Bhumi 3,20,000 Furniture 50,000
Chavi 3,40,000 6,60,000 Debtors 2,30,000
80,000 Stock 1,50,000
General Reserve
50,000
Bank loan 60,000 Cash
Creditors 60,000

8,60,000
8,60,000

1
firm with share in profits on the
Aditi was admitted in the 3

following terms :

Aditi willbring 3,00,000 as her capital.

(i)
cash.
of goodwill premium in
(ii) Aditi will bring her share two years
valued on the basis of
Goodwill of the firm was
Average
of average profits of the last three years.
purchase
years were 60,000.
profits of the last three
4,60,000.
(iii) Machinery was revalued at
on the basis
Bhumi and Chavi were adjusted
(iv) Thecapitals of
capital by opening current accounts.
of Aditi's 6
Accounts.
Account and Partners' Capital
Prepare Revaluation
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67/4/3
 (b) partners sharing profits and losses in
Anna, Bina and Teena were
on 31S. March, 2022 was
the ratio of 5:3:2. Their Balance Sheet
as follows:

2022
Balance Sheet offAnna, Bina and Teena as at 31st March,
Amount
Amount
Liabilities Assets

Creditors 66,000 Furniture 1,12,000

Bills Payable 59,000 Stock 1,77,000
Debtors 2,80,000
Capitals: Less - provision for
Anna 2,00,000 bad debts 7,000 2,73,000
Bina 2,00,000 Cash 63,000
Teena 1,00,000 5,00,000
6,25,000 6,25,000

On the above date, Anna retired on the following terms:

(i) Goodwill of the firm was valued at 60,000 and Anna's share of
goodwill was adjusted through the capital accounts of remaining
partners.

(ii) Furniture was depreciated by 10,000.

(iii) Anna was to be paid through cash brought in by Bina and Teena in
such a way as to make their capitals proportionate to their new
profit sharing ratio of 1:1.
Prepare Revaluation and Partners' Capital Accounts. 6

67/4/3 Page 27 P.T.0.

 27.
26.
67/4/3

(i) (b) (a)

(d) (c) (b) (a)

Which Ajanta Pass andholderamounts were
application Applications
allotment On On On The Ajanta
5,00,000 books Pass The allotment.
not wasreeeived allotted
Applications ? OnYa:h al
allot:ment
first
application 3
journal final amount forfeited
necessary
pay
refunded. pplication perpriun1 a
Z Cash of Ltd. of of Ltd.
Cheques30,000
of and the
2,00,000, (Analysis the call.1,000 equity Ltd. Yash on onshare
OR withdrawn following Open was was final Application
first invited
entries His (including
were was, issued ORLtd. shares application pro-rata were
received shares, duly made - A and of
9% calls-in-arrears shares adjusted call R3ahares
payable journal
shareholder and 10%.
20,000 received applications on 3
debentures fromOPTION-I will of for received received to - per prospectus
inviting a were final
basis first per The
Page 29
from Financial PART B were and all premium) share as of entries money was
th e
deposited result
the failed towardsExcess
applicants. money per
3
follows.:
reissued call andshare;
amount
debtors above 10 to to for
forfeited. except for money who in
issued bank in account share
-5
each for beall final on for
1,20,000
to 6,00,000 excess
in Statements) flow
transactions sums for
the applied adjusted
applicants. allotment call, was
50,000
the pay from issued and
to
50,000 of payable
vendors cash wherever per above
60,000 his of the
bank the due applications
issuingfor shares equity
Sumit, shares share at shares forsums
towards balance
? allotment
in
on
premium
a transactionsfully 6,000 The (including shares as
of necessary. due and follows
machinery the allotment. whoreceivedonand paid wereshares on sumsexcessamount.
shares of
books and was pro-rata
of up. allotment
forfeited. premium) ?
first the in due
money 10
P.T.0. of
10%. could were each
All the on
6
6
 30. 29. 28.
67/4/3
(i) (di (c) (a)
(b) company While (d) (c) (b) (a)Which
(ii)

TotalCoverage
activitypreparing Proprietary
Ratio
Interest
RatioReturnon of has An
(e) (b) (u) willbe: 1r (e)
CaahOperating
on If Investing
(a) activity
activityFinancing
the
the revenue
cOst, is mvestment
ashort
and classified Assets following Three SixThree
160% 40% 60% 100%operating 2,00,000 F * One
2,50,000 cost cash Investment months
maturity,
year months
from Cash to months more or
OR of
revenue equivalents as Debt is or normally
operations Flow or
ratio : not less
less
Ratio or
a less
of
of Statement, say,
from Solvency qualifies
Aman
Page 31 operations is
Ltd. (d) (10,00,000
b) Ratio as
'Interest from cash
is
60%, will
?
8,50,000
12,50,000 equivalent
the
its be: and received' date
operating gross
of
by acquisition. only
profit
profit a when
is
finance
ratio 25% i
P.T.0. 1
1 1
1
31.
ly he following itcms under maior
he Btlmce Sheet of a
heads and sub-heads (if any) 1n
company as per Schedule III, Part I of the
Companies Act, 2013: 3
()
l'repaid Rent
Mortgage Loan
(ii) Computer Software

32. "Thee rat ios are calculated to analyse the earning capacity of the
businenn which is the outcome of utilisation of resources employed in the
buainosH.'
(i) ldontify the types of ratios being discussed above.
above.
(iü) Explain any two ratios of the type of ratios identified in (i)
Quick Ratio of
33. (i) (a) Y Ltd. has a Current Ratio of 3-5 : 1 and
2:1. If èxcess of current assets Over
quick assets

represented by inventory is 48,000, calculate current

2+2=4
assets and current liabilities.
(b) Calculate Debt to Equity Ratio :
Shareholder Funds 2,00,000
Reserves and Surplus - 1,00,000
Total Debt P 4,00,000
Current Liabilities 1,00,000
OR
giving reasons
(ii) Tho Current Ratio of a company is 2:1. State
reduce or not
which of the following transactions would improve, 4
change the ratio :
(n) Purchase of goodsfor cash 60,000
(h) Purchase of fixed assets for cash 2,00,000
(e) Sale of goods costing 20,000 for 23,000 on credit
(d) Issue of shares 10,00,000
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Page 33
67/4/3
 answer the given question on
Ivpothetical text and
34. Roat the ollowg 2019, he formed a
Lhin ba0n : 1st April, started
nlrepreneur. On Mohan and Sohan. They
successful
Mudhav in young his friends, was a
o with ttwo of Their business
partnerahip dry fruits. business in many other
their buxinoas of xportng expand the changed the form
busineN, Now they wanted to requirements, they Sheet of
financial Ltd. The Balance
countries, lor neeting the formed Madhav
organinaion and
OT businent follows :
Madhav Ltd, aB at 313.2022 was as
at 31st March, 2022
Balanoe Sheot of MadhavLtd, as 31.3.2021
Note 31.3.2022
ParticularN No.

I- Equity and LAabilities :

1. Shareholders' Funds
35,00,000 25,00,000
(a) Share Capital
(b) Reservesand Surplus 12,50,000 10,00,000
(Statement of P & L)
2 Non-Current Liabilities
Long-term Borrowings 12,50,000 3,50,000
(10% Debentures)
3. Current Ldabilities
(a)Short-term Borrowings 50,000 75,000
(Bank Overdraft)
2,50,000 1,50,000
(b) Trade Payables
(c) Short-term Provisions 1 1,50,000 75,000
Total 64.50,000 41,50,000

II- Assets :
1. Non-Current AsBots
Fixed Assets
40,00,000 22,50,000
(a)Tangible Aanets
(b) Intangible Assots 3,50,000 5,00,000
(Goodwil1)
2. Current AsNots
6,25,000 5,00,000
(a)Inventorion
12,50,000 7,50,000
(b)Trade Revvivablos
(c)Cash and (Cash 2,25,000 1,50,000
Equivalent 64,50,000 41,50,000
Total
P.T.0.
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67/4/3
 Notes to Accounts :
Note
No.
Particulars 31.3.2022
Amount
31.3.2021
Amount
Short term Provisions
Provision for Tax 1,50,000 75,000
Tangible Assets
Plant and Machinery 44,00,000 25,00,000
Less Accumulated Depreciation (4,00,000) (2,50,000)
40,00,000 22,50,000

Additional Information :
() Apart of the machine costing? 1,25,000 accumulated depreciation
thereon being 50,000was sold for 45,000 during the year.
(ii) Interest of 1,25,000 was paid on Debentures.
Calculate cash flows from Investing activities' and Financing activities
6
of Madhav Ltd. from the information provided above.

PART B
OPTION -II
(Computerised Accounting)

27. Which type of software package is suitable for an organization where the
volume of transactions is very low and adaptability is very high ? 1

(a) Generic (b) Specific

(c) Tailored (d) (b) and (c) both

28. (i) The need of codification is for:

(a) Generation of mnemonic codes.
(b) The encryption of data
(c) Securing the accounts, reports, etc.
(d) Easy processing of data and keeping proper records
OR
P.T.O.
67/4/3 Page 37
 purchases
lby customers for credit
Where are the amounts owed
found in books of accounts ?
(a) Accounts Receivable Journal
(b) General Ledger
(e) Accounts Receivable Subsidiary ledger
(d) Sales Journal
resources, a business :
29. (i)
T0 afeguard assets and optimise the use of
fu) Only tries toearn maximum revenue.
(b) Keeps internal controls.
(e) Only ensures accurate accounting records.
(d) Only safeguards assets.
OR
(iü) Correet ##### error appears :
(a) When anumber is divided by zero.
(b) When value is not available.
(c) Whoncolumn is not wide enough.
(d) Whenformula is not available.
30. A value' or function' or un 'arithmetic expression' is recorded in 1

(a) Row (b) Column

(c) Cell (d) Range
31. What is meant by Memo Voucher, 'Post-dated Voucher and
3
User-defined voucher' ?
32. Diferentiate betwoon 'CGonerie Software' and Tailored Software' on any 3
three basis.

Explain account group 'Current Assets'. 4

33. (a)
OR
Give the meaning of labol' and 'values' as used in spreadsheet. 4
(b)

34. Name and explain the fiuuncial function which will be used to verify the
6
total interest on a loan betwoen uny two periods.

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