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1 I ~;:j. Roll No. I I I I I I I I Candidates must write the Code on. Please check that t4is question paper contains 16 printed pages.. Code number given on the right hand side of the question paper should be written on the title page of the answer-book by the candidate.. Please check that this question paper contains 23 questions.. Please write down the Serial Number of the question before attempting it.. 15 minutes time has been allotted to read this question paper. The question paper will be distributed at a.m. From a.m. to a.m., the students will read the question paper only and will not write any answer on the answer script during this period. "3"rR-~~ ACCOUNTANCY (W) ~ 1~11"t';I 67/1 1 P.T.D.

2 .. fi ', - ~ ~ ~~iqoa..) General Instructions:. (i) This question paper contains three parts A, (ii) Part A is compulsory for all candidates. (iii) Candidates can attempt only one part of the remaining parts (iv) All parts of the questions should be attempted at one place. (Accounting for Not-for-Profit Organisations, Partnership Firms and Companies) 1. What is the basis for preparing Receipt and Payment Account? 1 2. Give the average period in months for charging interest on drawings 3. State the meaning of sacrificing ratio. 1 ~~-qjtar4~1 5. Give the meaning of 'Issue of Debentures as a collateral security'. 1 '~ "SIfu'iffi ~ "{C\tT # RW ~~' -qjt ar4 ~ I

3 ~ Prize Fund as on ,000 Prize Fund donations received during the year ,000 Prizes awarded during the year , Pass necessary journal entries for the above tr~nsactions in the books of Goodluck Ltd year ended on 31st March 2009 and 31st March 2010 : 3 1"i"1I(.'1I~d q1f a premium of 25%. ~~"ii~~1 ~ ~ RYT. ~ P -q: "5Ifqfp:<if ~ I

4 1-.'. partnership deed. They introduced capitals of f 5,00,000 and f 3,00,000 amount of interest on loan to be charged and the basis of division of profits. Pass a journal entry for the distribution of the profit between the partners and prepare the Capital Afcs of both the partners and Loan Afc of 'A'. 4 follows: Years Net profit ,90, ,20, ,50,000 period has been f 4,00,000. Having regard to the risk involved, 15% is considered to be a fair return on the capital. The remuneration of all the partners during this period is estimated to be f 1,00,000 per.. annum. of super profits earned on average basis during the above mentioned 6 three years and (ii) by capitalisation method. 4 67/1 4 \

2008-2009 2,20,000 2009-2010 2,50,000 Debentures in the following cases: 4 repayable at par. Lighting expenses 5,500..,,'; 2007-2008 1,90,000 ~ ~ 'J:Jr;f ~ ~ ~ (i) ~ ~ qq1 ~ ~ ~ 1Tl:!: ~ 11.

5 ,20, ,50,000 Debentures in the following cases: 4 repayable at par. Lighting expenses 5,500..,,'; ,90,000 ~ ~ 'J:Jr;f ~ ~ ~ (i) ~ ~ qq1 ~ ~ ~ 1Tl:!: ~ 11. Pass the necessary journal entries for the issue and redemption of R~I~I(g<:1 ~~ (i) 15,000, (ii) 2,00,000, 12% ~UIY~ prepare an Income and Expenditure Account for the year ended : 6 Miscellaneous Expenses 3,000 Interest paid on loan for three months 1,200 67/1 5 P.T.D.

6 - ---!!c1i;~."; '.' Additional Information: "t' 13. Pass the necessary journal entries for the following transactions on the alld outside liabilities have been transferred to Realisation Account: 6 (ii) Debtors realised "t' 12,000. (iii) "Haider took over all investments at "t' 12,000. (v) Realisation expenses amounted to "t' 2, /1 6 'OC,," ' -

7 ~ t~jcc"" fqf4v::r ~4.Yffi<.f1 (iii) the Debentures were redeemed. Pass the necessary journal entries in the books of the Company only the Companies Act. 6 YftY~dl ~ ~ ~ ~ ~~ ~ m~ "51~ 31lq~<.fctl ~~.-jl~-ql ~, * L5. Dinesh Ltd. invited applications for issuing 10,000 Equity shares of. allotted, failed to pay the allotment money and his shares were 57/1 7 P.T.D.

8 -..,, made. Mohan to whom 50 shares were allotted failed to pay the journal entries in the books of Dinesh Ltd. 8 Moti Ltd. invited applications for -issuing 10,00,000 Equity shares of as follows: Applications for 15,00,000 shares were received. Applications for to pay the allotment and call money. His shares were forfeited. Out fully paid up. Pass necessary journa} entries in the books of Moti Ltd.

9 ~ I atm "qjt R*:r;:r ~ 2 "srfu 3t'!1J ~ ~ -q"{ ~ ~ I ~ "qjt ~ ffi "SfqjR Sundry Creditors 42,500 Debtors 20,000 Cash at Bank 20,000 2,17,500 2,17,500 (a) Goodwill be valued at 2.! year's purchase of the average profits of the last four"years, which were as follows: Years , , , ,500 9 Profits -q1-ffi fu. ~'(:JT: 3tm ~ ~ ~ ~ ~ I 3,00,000 3tm ~ ~ ~~ qj) ~ \1.-11'iI~-q1

--. (c) For the purpose of calculating Z's share of profits in the year of his death the profits in 2010-2011 should be taken to have been accrued on the same scale as in 2009-2010.

10 --. (c) For the purpose of calculating Z's share of profits in the year of his death the profits in should be taken to have been accrued on the same scale as in executors' account till the payment of instalment due on be written off as bad debts and Land and Building should be appreciated by 25%. Prepare Revaluation Account, Capital Accounts of Murari, Vohra and ~ (.q-2:~) 15,000 20,000 2,17,500 2,17,500 67/1 10 -

31.7.2010 q)) ~~~~~~?:rt: 2 2006-2007 32,500 2007-2008 30,000 t.

11 q)) ~~~~~~?:rt: , ,000 t ,000 " ,500 ~)J1-1I~~1 ~~~~i ~ ~ ~YI(1I~d 67/1 11 P.T.D. -

12 - 23. From the following Balance Sheets of Vikas ~td. as on and Share Capital 90,000 1,30,000 Fixed Assets 93,400 1,66,000 General Reserve 30,000 55,000 Stock 22,000 26,000 Preliminary Expenses 2,000 1,000 1,57,400 2,37,000 1,57,400 2,37,000 Additional Information: (i) Depreciation charged on fixed assets for the y-ear ,000 ~1~1f{Cf1. 1,57,400 2,37,000 1,57,400 2,37,000 67/1 14

13 18. What is Normalisation? 1 than a single table? What are the advantages of Computerised Accounting System? Calculate the formula on Excel for the following: 3x2=6 Dearness House 67/1 15 P.T.D. (Computerised Accounting) \WT1T 31I~ftrq; ~ ~?. 2 3 ~1(fill~1 c,~ - -

14 .-.- ;1 I-1WjI(."\I~<1 p;i!,,~~; ~I- ~:,"';:- I :CT.t:

DESIGN OF THE QUESTION PAPER

DESIGN OF THE QUESTION PAPER SUBJECT : ACCOUNTANCY MAX MARKS : 80 CLASS : XII TIME : 3 HRS. 1. Weightage to Objectives S.NO. OBJECTIVES MARKS % OF MARKS 1. Knowledge 16 20% 2. Understanding 56 70% 3. Application