March – 2024

Scheme of Valuation

Subject : accountancy

Code : 30 Version : E

Qn.
Marks
No.
PART – A

I. 1. (b) Measurement 1

2. (a) Primary books of accounts 1

3. (d) Petty cash book 1

4. (d) After posting to ledger is complete and accounts have been balanced 1

5. (a) Trading account 1

II. 6. Business Entity Concept 1

7. More 1

8. Debit 1

9. Credit 1

10. Depreciation 1

III. 11. a) – ii) 5×1=5

b) – i)

c) – iv)

d) – iii)

e) – vi)

IV. 12. Goods and service tax 1

P.T.O.
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Qn.
Marks
No.
1) Opening Entries

2) Adjusting Entries
13. 1
3) Rectification Entries

4) Purchase and sale of items other than goods on credit (any one)
Provision Reserve
14. 1
1) It is charge against profit i) It is an appropriation of profit
15. Purchase of fixed assets 1

16. True 1

PART – B
1) Management

2) Creditors
V. 17. 2
3) Investors

4) Tax Authority (any two)

The system of recording two aspects (ie debit and credit) of every
18. 2
transaction in the books of accounts is known as double entry system.

Pass book is a copy of customers account as it appears in the ledger

19. 2
of the bank. Bank gives it to the customer.

1) Amount spent for the purchase of building.

20. 2
2) Amount spent for the purchase of machinery.

Wages A/c _____________ Dr 5,000

21. 2
To outstanding wages A/c 5,000
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Qn.
Marks
No.
PART – C
Assets Liabilities

Furniture A/c Outstanding rent A/c

Interest receivable A/c Rent received in advance A/c
Prepaid salary A/c Bills payable A/c
VI. 22. Investment A/c 6
Stock A/c
Capital Expenses/Losses Revenue/Gains
Capital Bad debts A/c Interest received A/c
Rent A/c
(For each right answer ½ marks)
Purchase Book (of Umadevi Traders)
Date Inward Invoice No. Particulars LF Amount (Rs.)
2023 Mr. Baskar 50,000
Jan. 01
Jan. 10 Mr. Raghavendra 36,000
23. (40,000 – 10%) 6
Jan. 12 Umesh Traders 10,000
Jan. 28 Santhosh (30,000 – 5%) 28,500
Total 1,24,500
Note : Transaction Jan. 20 will appear in Journal proper
(Each transaction 1 mark and for total 1 mark)
 -4- 30

Qn.
Marks
No.

Analytical petty cash book

Amt. Date Particulars Amt. stationery travelling Cartage Postage
Received 2020 paid
1000 Jan.01 Cash – – – – –
Jan.15 Stationery 200 200 – – –
Jan.16 Bus fare 24 – 24 – –
Jan.20 Cartage 80 – – 80 –
24. Jan.25 Taxi fare 160 – 160 – – 6
Jan.28 Postage 160 – – – 160
Total 624 200 184 80 160
Jan.31 Balance c/d 376
1,000 1,000
376 Feb.01 Balance b/d
624 Feb.01 Cash
(One mark for each entry)

Trial Balance as on 31-03-2022

Sl. Name of the Accounts LF Debit Credit

No. Rs. Rs.
1. Purchases 95,000 –
2. Sales – 1,36,000
3. Bank loan – 20,000
4. Machinery 50,000 –
25. 5. Cash 46,000 – 6
6. Capital – 1,00,000
7. Debtors 80,000 –
8. Creditors – 17,000
9. Bills receivable 4,000 –
10. Bills payable – 2,000
Total 2,75,000 2,75,000
(Half mark for each item and one mark for total)
 -5- 30

Qn.
Marks
No.
Balance Sheet as on 31-03-2022
Liabilities Amt. Assets Amt.
Rs. Rs.
Capital 1,00,000 Cash in hand 30,000
Add : N.P. 40,000 Stock 40,000
26. 1,40,000 6
Less : Drawings 20,0000 1,20,000 Debtors 20,000
Creditors 25,000 Investment 60,000
B.O.D. 10,000 Bills receivable 5,000
1,55,000 1,55,000
(One mark for each item, one mark for total and 2 marks for capital)

PART – D
Journal Entries in the books of Sree Vijay Kumar
Date Particulars LF Debit Credit
2022 Rs. Rs.
Jan.01 Cash A/c Dr 90,000 –
Kanaka A/c Dr 10,000 –
To capital A/c – 1,00,000
(Commence business with cash and drs)
Jan.03 Priya A/c Dr 20,000 –
To sales A/c 20,000
(Sold goods to Priya)
Jan. 05 Sales returns A/c Dr 5,000 –
To Priya A/c – 5,000
Jan.12 Cash A/c Dr 15,000 –
To Priya A/c – 15,000
VII. 27. Jan.15 Cash A/c Dr 7,000 – 12
To Manjula A/c – 7,000
Jan.20 Cash A/c Dr 10,000 –
To Kanaka A/c – 10,000
Jan.25 Keertana A/c Dr 20,000 –
To cash A/c – 20,000
Jan.29 Keertana A/c Dr 15,000 –
To Bank A/c – 15,000
Jan.30 Drawings A/c Dr 8,000 –
To cash A/c – 5,000
To Purchases A/c – 3,000
Jan.31 General expenses A/c Dr 1,000 –
To cash A/c – 1,000
Total 2,01,000 2,01,000
(One mark for simple entry, 2 marks for compounds entry)
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Qn.
Marks
No.
Cash Book
Date Receipts Cash Bank Date Payments Cash Bank
Rs. Rs. Rs. Rs.
2020 2020
Dec.1 Balance b/d 22,500 10,000 Dec.2 purchases 4,000
Dec.9 Cash C 5,000 Dec.5 Insurance 2,000
Dec.13 Sales 12,000 Dec.9 Bank C 5,000
28. Dec.18 Joseph 3,000 Dec.24 Bank C 3,000 12
Dec.24 Cash C 3,000 Dec.30 Drawings 1,000
Dec.31 Balance c/d 24,500 16,000
37,500 18,000 37,500 18,000
2021
Jan.1 Balance b/d 24,500 16,000
(One mark for each entry and one mark for balance)
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Qn.
Marks
No.
Purchase Book
Date Inward Particulars LF Amt.
Invoice no. Rs.
2021
Dec.01 Prem (20,000 – 5%) 19,000
Dec.10 Mohan (15,000 – 10%) 13,500
Dec.25 Naveen 20,000
Dec.30 Ajay 6,500
Total 59,000
Purchases Returns Book
Date debit Particulars LF Amt (Rs.)
Note no.
2021
Dec.20 Prem 5,000
Dec.28 Mohan 3,000
Dec.31 Ajay 50
Total 8,050
Sales Book
Date Outward Particulars LF Amt (Rs.)
29. 12
Invoice no.
2021
Dec.05 Suresh 12,000
Dec.08 Kavana (35,000 – 10%) 31,500
Dec.13 Sundar 30,000
Dec.31 Bimal 2,000
Total 75,500
Sales Returns Book
Date Credit Particulars LF Amt.(Rs.)
Note No.
2021
Dec.17 Sundar 5,000
Total 5,000
Cash Book
Date Receipts Amt. Date Payments Amt. (Rs.)
(Rs.) 2021
Dec.03 Purchases 15,000
15,000 15,000
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Qn.
Marks
No.
Journal Proper
Date Particulars LF Debit Credit
Rs. Rs.
2021
Dec.22 Thamas A/c Dr 200
To sale of old news papers 200
(3 marks for purchase Book, 2 marks for purchase return, 4 marks for
sales book, 1 mark sales return, one mark cash book and one mark
for Journal proper)
Bank Reconciliation Statement as on
Particulars Amt. Amt.
Rs. Rs.
Bank balance as per cash book 7,800
Add : 1) Cheque issued but not yet
presented for payment 1,500
2) Bank interest credited by the bank 400
3) Direct deposited into Bank by
30. a customer 4,000 5,900 12
13,700
Less : 1) Cheque deposited in bank
but not credited 3,000
2) Insurance premium paid
by the bank 2,000
3) Bank charges 100 5,100
Bank balance as per passbook 8,600
(Two marks for each transaction)
Machinery Account
Date Particulars Amt. Date Particulars Amt.
Rs. Rs.
1/1/14 Bank A/c 80,000 31/3/14 Depreciation 2000
31. A/c 12

(80, 000 × 100 12 )

10 × 3

31/3/14 Balance c/d 78,000

80,000 80,000
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Qn.
Marks
No.
1/4/14 Balance b/d 78,000 31/3/15 Depreciation A/c 8,000
(
80, 000 × 10
100 )
Balance c/d 70,000
78,000 78,000
1/4/15 Balance b/d 70,000 31/3/16 Depreciation A/c 8,000
(80, 000 × 10
100)
Balance c/d 62,000
70,000 70,000
1/4/16 Balance b/d 62,000 1/7/16 Bank A/c 60,000
1/7/16 Bank A/c 20,000 1/7/16 Depreciation 2,000
( 80, 000 × 10 × 3
100 12 )
31/3/17 Depreciation 1,500
31/3/17 Balance c/d 18,500
82,000 82,000
Depreciation Account
Date Particulars Amt. Date Particulars Amt.
Rs. Rs.
31/3/14 Machinery A/c 2,000 31/3/14 P&L A/c 2,000
31/3/15 Machinery A/c 8,000 31/3/15 P&L A/c 8,000
31/3/16 Machinery A/c 8,000 31/3/16 P&L A/c 8,000
1/7/16 Machinery A/c 2,000 31/3/17 P&L A/c 3,500
31/3/17 Machinery A/c 1,500
3,500 3,500
(Eight marks for machinery A/c and 4 marks for Depreciation A/c)
Trading and P&L A/c for the year ended 31/3/2017
Expenses Amt. Revenue Amt
Rs. Rs.
Opening stock 20,000 Sales 1,60,000
Purchases 80,000 Less : Returns 400 1,59,600
32. Less : Returns 1,200 78,800 12
Wages 12,000 Closing stock 4,000
Gross profit c/d 52,800
1,63,600 1,63,600
 -10- 30

Qn.
Marks
No.
Salary 9,000 By Gross profit b/d 52,800
Add : o/s 1,000 10,000 Miscellaneous income 12,000
Depreciation on Rent 6,000
Furniture 2,380

(23, 800 × 100

10
)
Depreciation on building

(86, 000 × 15
100 ) 12,900
Bad debts 500
Net profit 45,020
70,800 70,800
Balance sheet as on 31/3/2017
Liabilities Rs. Assets Rs.
Capital 80,000 Debtors 12,000
Add : N/P 45,020 Less : Bad debts 500 11,500
1,25,020 Cash 6,000
Less : Drawing 4,000
1,21,020 Investments 20,000
Creditors 14,000 Buildings 86,000
O/S salary 1,000 Less : Deprn. 12,900 73,100
Furniture 23,800
Less : Deprn. 2,380 21,420
Closing stock 4,000
1,36,020 1,36,020
(Eight marks for trading and P&L A/c and four marks for Balance Sheet)