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Hsslive-march-2023-qn-SY-549 (Accounts With AFS) - Pages-Deleted
Hsslive-march-2023-qn-SY-549 (Accounts With AFS) - Pages-Deleted
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SY-549
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2023
Part – III
ACCOUNTANCY WITH ANALYSIS OF FINANCIAL STATEMENTS
Maximum : 80 Scores
Time : 2½ Hours
Cool-off time : 15 Minutes
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SY-549 1 P.T.O.
PART – I
(ACCOUNTANCY) (40 Scores)
I. Answer any 4 questions from 1 to 5. Each carries 1 score. (4 1 = 4)
1. Identify the written documents of a partnership.
(a) Partnership Deed (b) Articles of Association
(c) Memorandum of Association (d) Mate’s Receipts
3. Leela, Malu and Seema are partners sharing profits and losses in the ratio of 3 : 2 : 1.
Leela retires and her share is taken up by Malu and Seema in the ratio of 3 : 2.
Calculate the new profit sharing ratio.
(a) 38 : 37 (b) 19 : 11
(c) 37 : 38 (d) 11 : 19
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III. Answer any 2 questions from 8 to 10. Each carries 3 scores. (2 3 = 6)
8. State any three differences between fixed capital method and fluctuating capital
method in partnership.
9. Maneesh and Vasanth are partners sharing profits in the ratio of 5 : 3. They admitted
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Sreekumar as a new partner, share in the future profits of the firm.
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Calculate new profit sharing ratio of Maneesh, Vasanth and Sreekumar.
10. What are the differences between dissolution of partnership and dissolution of firm ?
(Any 3 points)
12. Prasad, Prakash and Praveen are partners in a firm. Prakash retires from the firm. On his
date of retirement ` 80,000 becomes due to him. Prasad and Praveen promise to pay
him in 4 installments together with interest of 10% per annum at the end of every year.
Prepare Prakash’s Loan A/c.
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14. Mane, Bale and Deppe were sharing profits and losses in the ratio of 3 : 2 : 1. Their
Balance sheet as on 31-3-2022 was as follows :
Liabilities (`) Assets (`)
Creditors 40,000 Bank 10,000
General Reserve 50,000 Cash 7,500
Bills payable 5,000 Stock 25,000
Capital : Land & Building 2,38,500
Mane 1,00,000 Debtors 40,000
Bale 75,000 Less : Provision 1,000 39,000
Deppe 50,000 2,25,000
3,20,000 3,20,000
Deppe retired from the business on 31-3-2022 as the following terms :
(a) Stock is valued at ` 30,000.
(b) Provision for doubtful debts to be increased to 10% of debtors.
(c) Prepare Revaluation A/c and Deppe’s Capital A/c.
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16. The following was the Balance sheet of Ayusha and Vidhya, who were sharing profits
2 1
and as on 31-12-2022 :
3 3
Ayusha 1,00,000
2,88,000 2,88,000
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(a) Smitha was to be given share in profit and was to bring ` 25,000 as capital
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and ` 10,000 as her share of goodwill.
(e) Investment worth ` 7,500 (not mentioned in the Balance Sheet) was taken into
account.
Prepare Revaluation A/c, Partner’s Capital A/c and the Balance Sheet of the
reconstituted firm after admission of the new partner.
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PART – II
(ANALYSIS OF FINANCIAL STATEMENTS) (40 Scores)
20. Identify the ratio which provides the information critical to the long run operation of
the firm :
(a) Liquidity ratio (b) Activity ratio
(c) Solvency ratio (d) Profitability ratio
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IX. Answer any 2 questions from 24 to 26. Each carries 3 scores. (2 3 = 6)
24. Write any three difference between Shares and Debentures.
26. Classify the following transactions into operating activities, investing activities and
financing activities of a firm.
(a) Sale of property
(b) Redemption of debenture
(c) Pay operating expenses
(d) Receipts for Royalties
(e) Purchase of furniture
(f) Procurement of loan
XI. Answer all questions from 29 to 30. Each carries 5 scores. (2 5 = 10)
29. From the following statement of Profit & Loss of Kashi Traders, prepare comparative
statement of Profit and Loss for the year ended on 31-03-2021 and 2022 :
Particulars 2020-21 2021-22
Revenue from operations 20,00,000 25,00,000
Employee benefit expenses 4,00,000 6,00,000
Other expenses 1,00,000 50,000
Tax rate @ 50%
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30. From the following information, calculate cash flow statements from financial
activities :
Particulars 1-1-2022 31-12-2022
Long term loan 3,00,000 3,50,000
During the year, the company repaid a loan of ` 1,50,000.
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SY-549 14