{"id":22248,"date":"2018-11-23T17:44:09","date_gmt":"2018-11-23T12:14:09","guid":{"rendered":"http:\/\/mycbseguide.com\/blog\/?p=22248"},"modified":"2018-12-17T14:14:21","modified_gmt":"2018-12-17T08:44:21","slug":"cbse-question-paper-2016-class-12-accountancy","status":"publish","type":"post","link":"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/","title":{"rendered":"CBSE Question Paper 2016 class 12 Accountancy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Class_12_Accountancy_list_of_chapters\" >Class 12 Accountancy list of chapters<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Accountancy_Part_I\" >Accountancy Part I<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Accountancy_Part_II\" >Accountancy Part II<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#CBSE_Question_Paper_2016_class_12_Accountancy\" >CBSE Question Paper 2016 class 12 Accountancy<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#General_Instructions\" >General Instructions:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Section_A\" >Section A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Section_B\" >Section B<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Section_A-2\" >Section A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#OR\" >OR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#OR-2\" >OR<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Last_Year_Question_Paper_Class_12_Accountancy_2016\" >Last Year Question Paper Class 12\u00a0Accountancy 2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2016-class-12-accountancy\/#Previous_Year_Question_Paper_for_class_12_in_PDF\" >Previous Year Question Paper for class 12 in PDF<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>CBSE Question Paper 2016 class 12 Accountancy<\/strong>\u00a0conducted by Central Board of Secondary Education, New Delhi in the month of March 2016. CBSE previous year question papers with solution are available in myCBSEguide mobile app and cbse guide website. The Best CBSE App for students and teachers is myCBSEguide which provides complete study material and practice papers to cbse schools in India and abroad.<\/p>\n<p style=\"text-align: center;\"><strong>CBSE Question Paper 2016 class 12 Accountancy<\/strong><\/p>\n<p style=\"text-align: center;\"><strong><a class=\"button\" href=\"https:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-last-year-papers\/3\/\">Download as PDF<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/media-mycbseguide.s3.ap-south-1.amazonaws.com\/images\/blog\/Class%2012%20Accountancy%20Book%27\" alt=\"CBSE Question Paper 2016 class 12 Accountancy\" width=\"116\" height=\"154\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Class_12_Accountancy_list_of_chapters\"><\/span>Class 12 Accountancy list of chapters<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Accountancy_Part_I\"><\/span><strong>Accountancy Part I<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Accounting for Not-for-Profit Organisation<\/li>\n<li>Accounting for Partnership: Basic Concepts<\/li>\n<li>Reconstitution of a Partnership Firm \u2013 Admission of a Partner<\/li>\n<li>Reconstitution of Partnership Firm \u2013 Retirement\/Death of a Partner<\/li>\n<li>Dissolution of Partnership Firm<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Accountancy_Part_II\"><\/span><strong>Accountancy Part II<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Accounting for Share Capital<\/li>\n<li>Issue and Redemption of Debentures<\/li>\n<li>Financial Statements of a Company<\/li>\n<li>Analysis of Financial Statements<\/li>\n<li>Accounting Ratios<\/li>\n<li>Cash Flow Statement<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"CBSE_Question_Paper_2016_class_12_Accountancy\"><\/span>CBSE Question Paper 2016 class 12 Accountancy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"General_Instructions\"><\/span><strong>General Instructions:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>1) This question paper contains two parts A and B.<br \/>\n2) Part A is compulsory for all.<br \/>\n3) Part B has two options-Option-I\u00a0Analysis of Financial Statements and Option-II Computerized Accounting.<br \/>\n4) Attempt only one option of Part B.<br \/>\n5) All parts of a question should be attempted at one place.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Section_A\"><\/span><strong>Section A<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>(i) This section consists of 17questions.<br \/>\n(ii) All the questions are compulsory.<br \/>\n(iii) Question Nos. 1 to 6 are very short-answer questions carrying 1 mark each.<br \/>\n(iv) Question Nos. 7 to 10 carry 3 marks each.<br \/>\n(v)\u00a0Question Nos. 11 and 12 carry 4 marks each.<br \/>\n(vi)\u00a0Question Nos. 13 to 15 carry 6 marks each.<br \/>\n(vii)\u00a0Question Nos. 16 and 17 carry 8 marks each.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Section_B\"><\/span><strong>Section B<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>(i)\u00a0This section consists of 6questions.<br \/>\n(ii)\u00a0All questions are compulsory<br \/>\n(iii)\u00a0Question Nos. 18 and 19 are very short-answer questions carrying 1 mark each.<br \/>\n(iv)\u00a0Question Nos. 20 to 22 carry 4 marks.<br \/>\n(v)\u00a0Question No. 23 carries 6marks.<\/p>\n<hr \/>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Section_A-2\"><\/span><strong>Section A<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Q1 A and B were partners in a firm sharing profits in the ratio of 4:5. During the year ended 31-3-2015 A withdrew Rs 19,000. Interest on A\u2019s drawings was Rs 700.<\/p>\n<p>Pass necessary Journal entry for charging interest on A\u2019s drawings assuming that the capitals of the partners were fixed.<\/p>\n<p>Q2 On 15-1-2016 the first call of Rs 4 per share became due on 10,000 equity shares issued by New India Ltd. Aman a holder of 500 shares did not pay the first call money. Shanti a shareholder holding 600 shares paid the second and final call of Rs 3 per share along with the first call.<br \/>\nPass the necessary journal entry for the amount received by opening \u2018Calls-in-arrears\u2019 and \u2018Calls-in-advance\u2019 account in the books of the company.<\/p>\n<p>Q3 State the provisions of the Companies Act, 2013 for the creation of &#8216;Debenture Redemption\u00a0Reserve&#8217;.<\/p>\n<p>Q4 Distinguish between \u2018Dissolution of partnership\u2019 and \u2018Dissolution of partnership firm\u2019 on the basis of court\u2019s intervention.<\/p>\n<p>Q5 Ram, Mohan and Sohan were partners in a firm sharing profits in the ratio of 5:3:2. They admitted Hari as a new partner for <img decoding=\"async\" style=\"height: 45px; width: 23px;\" src=\"https:\/\/media-mycbseguide.s3.amazonaws.com\/images\/static\/lyp\/12\/accountancy\/2016\/set1\/image001.png\" \/>share in the profit which he acquired from Ram and Mohan in the ratio of 3:2. Calculate, the new profit sharing ratio of Ram, Mohan, Sohan and Hari.<\/p>\n<p>Q6 Name the Act that provides for the maximum number of partners in a partnership firm.What is the maximum number of partners that a partnership firm can have?<\/p>\n<p>Q7 To provide employment to the youth and to develop a backward area of Jharkhand which is near one of the coal mines, Thermal Power Energies Ltd. decided to set-up a Thermal Power Plant of 500 mega watt capacities. The company decided to issue 10,00,000 equity shares of Rs 10 each at a premium of 70% to finance the project.<br \/>\nApplications for 17,00,000 shares were received. Applications for 5,00,000 shares were rejected and money refunded. Shares were allotted on pro-rata basis to the remaining applicants. The whole of share money was payable on application.<br \/>\nPass necessary journal entries for the above transactions in the books of the company and identify any two values which the company wants to convey to the society.<\/p>\n<p>Q8 B\u2019 Ltd. took over the assets of Rs 14,00,000 and liabilities of Rs 4,00,000 of C Ltd. for a purchase consideration of Rs 9,19,000. Rs 17,000 were paid by a bank draft in favour of C Ltd. and the balance was paid by issue of equity shares of Rs 10 each at a premium of 10% in favour of C Ltd.Pass necessary journal entries for the above transactions in the books of B Ltd.<\/p>\n<p>Q9 List the circumstances under which need for valuation of goodwill of the firm may arise.<a>\u00a0<\/a><\/p>\n<p>Q10 TRK Ltd. issued 767,9% debentures of Rs 100 each on 1-1-2016. Pass necessary journal entries for the issue of debentures in the following situations:<\/p>\n<p>(a) When debentures were issued at a discount of 3% and were redeemable at a premium of 7%.<\/p>\n<p>(b) When debentures were issued at a premium of 4% and were redeemable at a premium of 9%.<\/p>\n<p>Q11 Usha and Uma were partners in a firm sharing profits in the ratio of 3:2. On 1-4-2014 they admitted Urmila as a new partner with 1\/5<sup>th<\/sup> share in the profits with a guaranteed profit of Rs 30,000. The new profit sharing ratio between Usha and Uma will remain the same but they agreed to bear any deficiency on account of guarantee to Urmila in the ratio of 7:3. The profit of the firm for\u00a0 the year ended 31-3-2015 was Rs 1,35,000.<\/p>\n<p>Prepare Profit and Loss Appropriation Account of Usha, Uma and Urmila for the year ended 31-3-2015.<\/p>\n<p>Q12 Vivek, Viney and Vijay were partners in a firm sharing profits in the ratio of 2:1:2. The firm closes its books on 31<sup>st<\/sup> March every year. On 31-12-2014 Viney died. On that date his capital account showed a debit balance of Rs 10,000 and Goodwill of the firm was valued at Rs 2,40,000. There was a debit balance of Rs 7,000 in the profit and loss account. Viney\u2019s share of profit in the year of his death will be calculated on the basis of average profit of last 5 years which was Rs 90,000.<br \/>\nPass necessary journal entries in the books of the firm on Viney\u2019s death.<\/p>\n<p>Q13 R and L were partners in a firm sharing profits in the ratio of 13:7. On 4-3-2016 their firm was dissolved. After transferring assets (other than cash) and outsiders liabilities to the realization account, you are given the following information:<br \/>\n(a) Subh, a creditor for Rs 4,90,000 accepted building at Rs 6,50,000 and paid the balance to the firm by a cheque.<br \/>\n(b) Sudha, a second creditor for Rs 1,80,000 accepted machinery of the book value of Rs 1,80,000 at Rs 1,76,000 in full settlement of his claim.<br \/>\n(c) Sudhir, a third creditor for Rs 2,00,000 accepted investments of Rs 1,20,000 and a bank draft of Rs 79,000 in full settlement of his claim.<br \/>\n(d) Loss on dissolution was Rs 30,000.<br \/>\nPass necessary journal entries for the above transactions in the books of the firm.<\/p>\n<p>Q14 On 1-4-2013 NK Ltd. had 15,000, 9% Debentures of Rs 100 each outstanding.<br \/>\n(i) On 1-4-2014 the company purchased from the open market 5,000 of its own debentures for Rs 102 each and cancelled the same immediately.<br \/>\n(ii) On 1-4-2015 company redeemed at par debentures of Rs 3,00,000 by draw of lot.<br \/>\n(iii) On 17-2-2016 the remaining debentures were purchased for immediate cancellation for Rs 5,99,500.<br \/>\nIgnoring debenture redemption reserve and interest on debentures, pass necessary journal entries for the above transactions in the books of the company.<a>\u00a0<\/a><\/p>\n<p>Q15 Ajay, Aman and Anand were partners in a firm sharing profits in the ratio of 5:1:4. Their Balance Sheet as on 31-3-2015 was as follows:<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 364.5pt;\" colspan=\"5\">Balance Sheet of Ajay, Aman and Anand<\/p>\n<p><em>as on 31-3-2015<\/em><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\">Liabilities<\/td>\n<td style=\"width: 48.75pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 146.25pt;\">Assets<\/td>\n<td style=\"width: 65.65pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\">Creditors<\/td>\n<td style=\"width: 48.75pt;\">1,47,000<\/td>\n<td style=\"width: 146.25pt;\">Land<\/td>\n<td style=\"width: 65.65pt;\">5,40,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\">Bills Payable<\/td>\n<td style=\"width: 48.75pt;\">33,000<\/td>\n<td style=\"width: 146.25pt;\">Building<\/td>\n<td style=\"width: 65.65pt;\">2,70,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\">General reserve<\/td>\n<td style=\"width: 48.75pt;\">2,10,000<\/td>\n<td style=\"width: 146.25pt;\">Plant<\/td>\n<td style=\"width: 65.65pt;\">1,90,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\">Capitals:<\/td>\n<td style=\"width: 48.75pt;\"><\/td>\n<td style=\"width: 146.25pt;\">Stock<\/td>\n<td style=\"width: 65.65pt;\">75,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 58.0pt;\">Ajay<\/td>\n<td style=\"width: 45.85pt;\">5,00,000<\/td>\n<td style=\"width: 48.75pt;\"><\/td>\n<td style=\"width: 146.25pt;\">Debtor<\/td>\n<td style=\"width: 65.65pt;\">60,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 58.0pt;\">Aman<\/td>\n<td style=\"width: 45.85pt;\">1,00,000<\/td>\n<td style=\"width: 48.75pt;\"><\/td>\n<td style=\"width: 146.25pt;\">Bank<\/td>\n<td style=\"width: 65.65pt;\">15,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 58.0pt;\">Anand<\/td>\n<td style=\"width: 45.85pt;\">1,60,000<\/td>\n<td style=\"width: 48.75pt;\">7,60,000<\/td>\n<td style=\"width: 146.25pt;\"><\/td>\n<td style=\"width: 65.65pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 103.85pt;\" colspan=\"2\"><\/td>\n<td style=\"width: 48.75pt;\">11,50,000<\/td>\n<td style=\"width: 146.25pt;\"><\/td>\n<td style=\"width: 65.65pt;\">11,50,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>From 1-4-2015 Ajay, Aman and Anand decided to share future profits equally. For this it was agreed that:<br \/>\n(i) Goodwill of the firm be valued at Rs 1,80,000.<br \/>\n(ii) Land be revalued at Rs 6,00,000 and building be depreciated by 10%.<br \/>\n(iii) Creditors of Rs 15,000 were not likely to be claimed and hence be written-off.<br \/>\nPrepare Revaluation Account, Partners\u2019 Capital Accounts and the Balance Sheet of the reconstituted firm.<\/p>\n<p>Q16 P, Q and R were partners in a firm sharing profit in the ratio of 3:2:1. On 31-3-2015 their Balance Sheet was as follows:<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 454.25pt;\" colspan=\"5\">Balance Sheet of P, Q and R as on 31-3-2015<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Liabilities<\/td>\n<td style=\"width: 54.0pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 184.5pt;\">Assets<\/td>\n<td style=\"width: 52.85pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Creditors<\/td>\n<td style=\"width: 54.0pt;\">2,52,000<\/td>\n<td style=\"width: 184.5pt;\">Bank<\/td>\n<td style=\"width: 52.85pt;\">51,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">General Reserve<\/td>\n<td style=\"width: 54.0pt;\">63,000<\/td>\n<td style=\"width: 184.5pt;\">Debtors<\/td>\n<td style=\"width: 52.85pt;\">69,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Capitals:<\/td>\n<td style=\"width: 54.0pt;\"><\/td>\n<td style=\"width: 184.5pt;\">Stock<\/td>\n<td style=\"width: 52.85pt;\">3,30,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 P<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">1,80,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\"><\/td>\n<td style=\"height: 12.6pt; width: 184.5pt;\">Investments<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\">90,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 Q<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">1,20,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\"><\/td>\n<td style=\"height: 12.6pt; width: 184.5pt;\">Furniture<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\">30,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 R<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">60,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\">3,60,000<\/td>\n<td style=\"height: 12.6pt; width: 184.5pt;\">Machinery<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\">1,05,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\"><\/td>\n<td style=\"width: 54.0pt;\">6,75,000<\/td>\n<td style=\"width: 184.5pt;\"><\/td>\n<td style=\"width: 52.85pt;\">6,75,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>On the above date S was admitted as a new partner and it was decided that:<br \/>\n(i) The new profit sharing ratio between P, Q, R and S will be 2:2:1:1.<br \/>\n(ii) Goodwill of the firm was valued at Rs 2,70,000 and S will bring his share of goodwill premium in cash.<br \/>\n(iii) The market value of investments was Rs 64,000.<br \/>\n(iv) Machinery will be reduced to Rs 87,000.<br \/>\n(v) A creditor of Rs 9,000 was not likely to claim the amount and hence to be written-off.<br \/>\n(vi) S will bring proportionate capital so as to give him 1\/6<sup>th<\/sup> share in the profits of the firm.<br \/>\nPrepare Revaluation Account, Partners\u2019 Capital Accounts and the Balance Sheet of P, Q, R and S.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"OR\"><\/span>OR<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A, B and C were partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 31-3-2015 their Balance Sheet was as follows:<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 454.25pt;\" colspan=\"6\">Balance Sheet of A, B and C as on 31-3-2015<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Liabilities<\/td>\n<td style=\"width: 54.0pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Assets<\/td>\n<td style=\"width: 52.85pt;\">Amount<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Creditors<\/td>\n<td style=\"width: 54.0pt;\">63,000<\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Land and Building<\/td>\n<td style=\"width: 52.85pt;\">1,86,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Investment<\/td>\n<td style=\"width: 54.0pt;\"><\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Motor Vans<\/td>\n<td style=\"width: 52.85pt;\">60,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Fluctuation Fund<\/td>\n<td style=\"width: 54.0pt;\">30,000<\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Investments<\/td>\n<td style=\"width: 52.85pt;\">57,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">P &amp; L Account<\/td>\n<td style=\"width: 54.0pt;\">1,20,000<\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Machinery<\/td>\n<td style=\"width: 52.85pt;\">36,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\">Capitals:<\/td>\n<td style=\"width: 54.0pt;\"><\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\">Stock<\/td>\n<td style=\"width: 52.85pt;\">45,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 A<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">1,50,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\"><\/td>\n<td style=\"height: 12.6pt; width: 135.0pt;\">Debtors<\/td>\n<td style=\"height: 12.6pt; width: 49.5pt;\">1,20,000<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 B<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">1,20,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\"><\/td>\n<td style=\"height: 12.6pt; width: 135.0pt;\">\u00a0 <em>Less<\/em>: Provision<\/td>\n<td style=\"height: 12.6pt; width: 49.5pt;\">9,000<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\">1,11,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 12.6pt; width: 81.45pt;\">\u00a0 C<\/td>\n<td style=\"height: 12.6pt; width: 81.45pt;\">60,000<\/td>\n<td style=\"height: 12.6pt; width: 54.0pt;\">3,30,000<\/td>\n<td style=\"height: 12.6pt; width: 184.5pt;\" colspan=\"2\">Cash<\/td>\n<td style=\"height: 12.6pt; width: 52.85pt;\">48,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 162.9pt;\" colspan=\"2\"><\/td>\n<td style=\"width: 54.0pt;\">5,43,000<\/td>\n<td style=\"width: 184.5pt;\" colspan=\"2\"><\/td>\n<td style=\"width: 52.85pt;\">5,43,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>On the above date B retired and A and C agreed to continue the business on the following terms:<br \/>\n(1) Goodwill of the firm was valued at Rs 1,53,000.<br \/>\n(2) Provision for bad debts was to be reduced by Rs 3,000.<br \/>\n(3) There was a claim of Rs 12,000 for workmen compensation.<br \/>\n(4) B will be paid Rs 24,600 in cash and the balance will be transferred to his loan account which will be paid in four equal yearly instalments together with interest @ 10% p.a.<br \/>\n(5) The new profit sharing ratio between A and C will be 3:2 and their capital will be in their new profit sharing ratio. The capital adjustments will be done by opening current accounts.<br \/>\nPrepare Revaluation Account, Partners\u2019 Capital Accounts and the Balance Sheet of A and C.<\/p>\n<p>Q17 JS Ltd. invited applications for issuing 80,000 equity shares of Rs 10 each at a premium of Rs 6 per share. The amount was payable as follows:<br \/>\nOn application \u2013 Rs 4 per share (including premium Rs 1 per share)<br \/>\nOn Allotment \u2013 Rs 6 per share (including premium Rs 3 per share)<br \/>\nOn First and Final Call \u2013 Balance.<br \/>\nApplications for 1,60,000 shares were received. Applications for 40,000 shares were rejected and application money refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Raman holding 400 shares failed to pay the allotment money. His shares were forfeited immediately after allotment. Afterwards the final call was made. Veer who had applied for 1,200 shares failed to pay the final call. His shares were also forfeited. Out of the forfeited shares 500 shares were re-issued at Rs 8 per share fully paid-up. The re-issued shares included all the forfeited shares of Raman.<br \/>\nPass necessary journal entries for the above transactions in the books of J.S. Ltd.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"OR-2\"><\/span>OR<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"height: 22.95pt; width: 454.4pt;\" colspan=\"6\">BOOKS OF RS LTD.<\/p>\n<p>JOURNAL<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">Date<\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">Particulars<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\">L.F.<\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">Debit<\/p>\n<p>Amount<\/p>\n<p>(Rs)<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">Credit<\/p>\n<p>Amount<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">2015<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">Jan. 10<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Application money received for 35,000 shares @ Rs 5 per share)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">Jan. 16<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Transfer of share application money to share capital a\/c, securities premium a\/c, refunded for 4,000 shares for rejected applications and balance to share allotment as shares were allotted on pro-rata basis)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">Jan. 31<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Amount due on allotment @ Rs 4 per share)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">Feb. 20<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Balance amount received on allotment)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">April\u00a0 01<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(First and final call money due)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">April 20<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">Calls-in-arrears A\/c.<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Money received on first and final call except on 500 shares)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 54.4pt;\"><\/td>\n<td style=\"width: 234.95pt;\"><\/td>\n<td style=\"width: 24.85pt;\"><\/td>\n<td style=\"width: 33.0pt;\"><\/td>\n<td style=\"width: 51.0pt;\"><\/td>\n<td style=\"width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 43.05pt; width: 54.4pt;\">Aug. 27<\/td>\n<td style=\"height: 43.05pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 43.05pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 43.05pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 43.05pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 45.45pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026.<\/td>\n<td style=\"height: 45.45pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 43.05pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026.<\/td>\n<td style=\"height: 43.05pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 88.45pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 88.45pt; width: 259.8pt;\" colspan=\"2\">(Forfeited the shares on which first and final call money was not received)<\/td>\n<td style=\"height: 88.45pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 88.45pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 88.45pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 54.4pt;\"><\/td>\n<td style=\"width: 234.95pt;\"><\/td>\n<td style=\"width: 24.85pt;\"><\/td>\n<td style=\"width: 33.0pt;\"><\/td>\n<td style=\"width: 51.0pt;\"><\/td>\n<td style=\"width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 45.45pt; width: 54.4pt;\">Oct. 3<\/td>\n<td style=\"height: 45.45pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 45.45pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 45.45pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 45.45pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 43.05pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 43.05pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 43.05pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 43.05pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 43.05pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 45.45pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026\u2026\u2026.<\/td>\n<td style=\"height: 45.45pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 45.45pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(Re-issued the forfeited shares @ 8 per share fully paid-up)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\">\u2026\u2026\u2026\u2026<\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">\u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\">Dr.<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\">\u2026\u2026\u2026.<\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\">To \u2026\u2026\u2026\u2026..<\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\">\u2026\u2026\u2026.<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 259.8pt;\" colspan=\"2\">(.\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026..)<\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 22.95pt; width: 54.4pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 234.95pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 24.85pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 33.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 51.0pt;\"><\/td>\n<td style=\"height: 22.95pt; width: 56.2pt;\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Q18 &#8216;An enterprise may hold securities and loans for dealing or trading purposes in which case they are similar to inventory acquired specifically for resale.&#8217; Is the statement true? Cash flows from such activities will be classified under which type of activity while preparing &#8216;Cash flow statement&#8217;.<\/p>\n<p>Q19 L Ltd. had purchased a machinery on deferred payment basis. During the year ended 31-3-2015 the company paid an installment of Rs 4,00,000 which included interest of Rs 4,000. Under which activity or activities payment of installment will be classified while preparing Cash flow Statement.<\/p>\n<p>Q20 (a) List the four items that are shown under the heading inventories other than \u2018stock in trade\u2019 in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.<br \/>\n(b) What is meant by \u2018Financial Statements\u2019 of a company?<a>\u00a0<\/a><\/p>\n<p>Q21 (a) What is meant by solvency of business?<br \/>\n(b) From the following details obtained from the financial statements of JN Ltd. calculate &#8216;interest coverage ratio&#8217;. Net profit after tax Rs 2,00,000; 12% Long-Term Debt Rs 40,00,000; Rate of tax 40%.<\/p>\n<p>Q22 Following is the statement of Profit and Loss of DD Ltd. for the year ended 31-3-2015:<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 175.5pt;\">Particulars<\/td>\n<td style=\"width: 39.9pt;\">Note<\/p>\n<p>No.<\/td>\n<td style=\"width: 58.8pt;\">31-3-2015<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 58.8pt;\">31-3-2014<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Revenue from operations<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\">75,00,000<\/td>\n<td style=\"width: 58.8pt;\">34,00,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Other Income<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\">1,50,000<\/td>\n<td style=\"width: 58.8pt;\">3,00,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Employee benefit<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\">\u2013<\/td>\n<td style=\"width: 58.8pt;\">\u2013<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Expenses \u2013 60% of total revenue<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\">\u2013<\/td>\n<td style=\"width: 58.8pt;\">\u2013<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Other expenses \u2013 10% of employee benefit expenses<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\"><\/td>\n<td style=\"width: 58.8pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 175.5pt;\">Tax Rate<\/td>\n<td style=\"width: 39.9pt;\"><\/td>\n<td style=\"width: 58.8pt;\">40%<\/td>\n<td style=\"width: 58.8pt;\">50%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The motto of DD Ltd. is to produce and supply green energy in the rural areas of India. It has also taken up a project of constructing a road that will pass through five villages so that these villages could be connected to the nearby town. It will use the local resources and employ local people for construction of the road.<br \/>\nYou are required to prepare a comparative statement of Profit and Loss of DD Ltd. from the given statement of Profit and Loss. Also identify any two values that the company wishes to convey to the society.<\/p>\n<p>Q23 Following is the Balance Sheet of SN Ltd. as at 31-3-2015:<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 428.4pt;\" colspan=\"4\">SN Ltd. Balance Sheet as at 31-3-2015<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">Particulars<\/td>\n<td style=\"width: 36.0pt;\">Note No.<\/td>\n<td style=\"width: 67.5pt;\">31-03-2015<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 67.5pt;\">31-03-2014<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">I. Equity and Liabilities<\/p>\n<p>(1) Shareholders\u2019 Funds :<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(a) Share Capital<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\">2,50,000<\/td>\n<td style=\"width: 67.5pt;\">2,00,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 192.75pt;\">(b) Reserves and Surplus<\/td>\n<td style=\"width: 36.0pt;\">1<\/td>\n<td style=\"width: 67.5pt;\">1,00,000<\/td>\n<td style=\"width: 67.5pt;\">(25,000)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(2) Non-current Liabilities :<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">Long-term borrowings<\/td>\n<td style=\"width: 36.0pt;\">2<\/td>\n<td style=\"width: 67.5pt;\">2,25,000<\/td>\n<td style=\"width: 67.5pt;\">2,50,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(3) Current liabilities :<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 14.85pt; width: 257.4pt;\">(a) Short-term borrowings<\/td>\n<td style=\"height: 14.85pt; width: 36.0pt;\">3<\/td>\n<td style=\"height: 14.85pt; width: 67.5pt;\">75,000<\/td>\n<td style=\"height: 14.85pt; width: 67.5pt;\">25,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 8.1pt; width: 257.4pt;\">(b) Short-term provisions<\/td>\n<td style=\"height: 8.1pt; width: 36.0pt;\">4<\/td>\n<td style=\"height: 8.1pt; width: 67.5pt;\">35,000<\/td>\n<td style=\"height: 8.1pt; width: 67.5pt;\">45,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">Total<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\">6,85,000<\/td>\n<td style=\"width: 67.5pt;\">4,95,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">II. Assets<\/p>\n<p>(1) Non-current Assets :<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(a) Fixed Assets<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"height: 16.2pt; width: 257.4pt;\">(i) Tangible<\/td>\n<td style=\"height: 16.2pt; width: 36.0pt;\">5<\/td>\n<td style=\"height: 16.2pt; width: 67.5pt;\">5,01,500<\/td>\n<td style=\"height: 16.2pt; width: 67.5pt;\">3,60,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(ii) Intangible<\/td>\n<td style=\"width: 36.0pt;\">6<\/td>\n<td style=\"width: 67.5pt;\">10,000<\/td>\n<td style=\"width: 67.5pt;\">15,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(b) Non-current Investments<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\">50,000<\/td>\n<td style=\"width: 67.5pt;\">37,500<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(2) Current Assets :<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<td style=\"width: 67.5pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(a) Current Investments<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\">25,000<\/td>\n<td style=\"width: 67.5pt;\">30,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 257.4pt;\">(b) Inventories<\/td>\n<td style=\"width: 36.0pt;\">7<\/td>\n<td style=\"width: 67.5pt;\">53,500<\/td>\n<td style=\"width: 67.5pt;\">22,500<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 192.75pt;\">(c) Cash and Cash Equivalents<\/td>\n<td style=\"width: 36.0pt;\"><\/td>\n<td style=\"width: 67.5pt;\">45,000<\/td>\n<td style=\"width: 67.5pt;\">30,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 2.7pt; width: 257.4pt;\">Total<\/td>\n<td style=\"height: 2.7pt; width: 36.0pt;\"><\/td>\n<td style=\"height: 2.7pt; width: 67.5pt;\">6,85,000<\/td>\n<td style=\"height: 2.7pt; width: 67.5pt;\">4,95,000<\/td>\n<\/tr>\n<tr>\n<td style=\"height: 14.0pt; width: 257.4pt;\"><\/td>\n<td style=\"height: 14.0pt; width: 36.0pt;\"><\/td>\n<td style=\"height: 14.0pt; width: 67.5pt;\"><\/td>\n<td style=\"height: 14.0pt; width: 67.5pt;\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Notes to Accounts<\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td style=\"width: 36.45pt;\">Note<\/p>\n<p>No.<\/td>\n<td style=\"width: 231.65pt;\">Particulars<\/td>\n<td style=\"width: 70.3pt;\">31-03-2015<\/p>\n<p>(Rs)<\/td>\n<td style=\"width: 72.0pt;\">31-03-2014<\/p>\n<p>(Rs)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">1<\/td>\n<td style=\"width: 231.65pt;\">Reserves and Surplus<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">(Surplus i.e. Balance in the statement of Profit and Loss)<\/td>\n<td style=\"width: 70.3pt;\">1,00,000<\/td>\n<td style=\"width: 72.0pt;\">(25,000)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">1,00,000<\/td>\n<td style=\"width: 72.0pt;\">(25,000)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">2.<\/td>\n<td style=\"width: 231.65pt;\">Long-term Borrowings :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">12% Debentures<\/td>\n<td style=\"width: 70.3pt;\">2,25,000<\/td>\n<td style=\"width: 72.0pt;\">2,50,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">2,25,000<\/td>\n<td style=\"width: 72.0pt;\">2,50,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">3.<\/td>\n<td style=\"width: 231.65pt;\">Short-term Borrowings :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Bank Overdraft<\/td>\n<td style=\"width: 70.3pt;\">75,000<\/td>\n<td style=\"width: 72.0pt;\">25,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">75,000<\/td>\n<td style=\"width: 72.0pt;\">25,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">4.<\/td>\n<td style=\"width: 231.65pt;\">Short-term Provisions :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Provision for tax<\/td>\n<td style=\"width: 70.3pt;\">35,000<\/td>\n<td style=\"width: 72.0pt;\">45,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">35,000<\/td>\n<td style=\"width: 72.0pt;\">45,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">5.<\/td>\n<td style=\"width: 231.65pt;\">Tangible Assets :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Machinery<\/td>\n<td style=\"width: 70.3pt;\">6,01,500<\/td>\n<td style=\"width: 72.0pt;\">4,10,500<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Accumulated Depreciations<\/td>\n<td style=\"width: 70.3pt;\">(1,00,000)<\/td>\n<td style=\"width: 72.0pt;\">(50,500)<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">5,01,500<\/td>\n<td style=\"width: 72.0pt;\">3,60,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">6.<\/td>\n<td style=\"width: 231.65pt;\">Intangible Assets :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Goodwill<\/td>\n<td style=\"width: 70.3pt;\">10,000<\/td>\n<td style=\"width: 72.0pt;\">15,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">10,000<\/td>\n<td style=\"width: 72.0pt;\">15,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\">7.<\/td>\n<td style=\"width: 231.65pt;\">Inventories :<\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\">Stock in trade<\/td>\n<td style=\"width: 70.3pt;\">53,500<\/td>\n<td style=\"width: 72.0pt;\">22,500<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\">53,500<\/td>\n<td style=\"width: 72.0pt;\">22,500<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 36.45pt;\"><\/td>\n<td style=\"width: 231.65pt;\"><\/td>\n<td style=\"width: 70.3pt;\"><\/td>\n<td style=\"width: 72.0pt;\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Additional Information:<br \/>\n(i) 12% Debentures were redeemed on 31-3-2015.<br \/>\n(ii)\u00a0 Tax Rs 35,000 was paid during the year.<br \/>\nPrepare Cash Flow Statement.<\/p>\n<div>\n<p style=\"text-align: center;\"><strong>These are questions only. To view and download complete question paper with solution install myCBSEguide App from google play store or login to our\u00a0<a href=\"https:\/\/mycbseguide.com\/dashboard\/\">student dashboard<\/a>.<\/strong><\/p>\n<p style=\"text-align: center;\"><b><strong><a class=\"button\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.techchefs.MyCBSEGuide&amp;referrer=utm_source%3Dmycbse_bottom%26utm_medium%3Dtext%26utm_campaign%3Dmycbseads\">Download myCBSEguide App<\/a><\/strong><\/b><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Last_Year_Question_Paper_Class_12_Accountancy_2016\"><\/span>Last Year Question Paper Class 12\u00a0Accountancy 2016<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Download class 12 Accountancy question paper with solution from best CBSE App the myCBSEguide. CBSE class 12 Accountancy question paper 2016 in PDF format with solution will help you to understand the latest question paper pattern and marking scheme of the CBSE board examination. You will get to know the difficulty level of the question paper.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Previous_Year_Question_Paper_for_class_12_in_PDF\"><\/span>Previous Year Question Paper for class 12 in PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CBSE question papers 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 209, 2008, 2007, 2006, 2005 and so on for all the subjects are available under this download link. Practicing real question paper certainly helps students to get confidence and improve performance in weak areas.<\/p>\n<ul>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physics\/1251\/cbse-last-year-papers\/3\/\">Physics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-chemistry\/1267\/cbse-last-year-papers\/3\/\">Chemistry<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-mathematics\/1284\/cbse-last-year-papers\/3\/\">Mathematics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-biology\/1298\/cbse-last-year-papers\/3\/\">Biology<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-last-year-papers\/3\/\">Accountancy<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-business-studies\/1727\/cbse-last-year-papers\/3\/\">Business Studies<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-economics\/1327\/cbse-last-year-papers\/3\/\">Economics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-history\/1869\/cbse-last-year-papers\/3\/\">History<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-geography\/1863\/cbse-last-year-papers\/3\/\">Geography<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-political-science\/1879\/cbse-last-year-papers\/3\/\">Political Science<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physical-education\/1877\/cbse-last-year-papers\/3\/\">Physical Education<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-computer-science\/1851\/cbse-last-year-papers\/3\/\">Computer Science<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-informatics-practices\/1873\/cbse-last-year-papers\/3\/\">Informatics Practices<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-english-core\/1855\/cbse-last-year-papers\/3\/\">English Core<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-hindi-core\/1865\/cbse-last-year-papers\/3\/\">Hindi Core<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-hindi-elective\/1867\/cbse-last-year-papers\/3\/\">Hindi Elective<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12\/1250\/\">Other Subjects<\/a><\/li>\n<\/ul>\n<p>To download CBSE Question Paper class 12 Accountancy, Chemistry, Physics, History, Political Science, Economics, Geography, Computer Science, Home Science, Business Studies and Home Science; do check myCBSEguide app or website. myCBSEguide provides sample papers with solution, test papers for chapter-wise practice, NCERT solutions, NCERT Exemplar solutions, quick revision notes for ready reference, CBSE guess papers and CBSE important question papers. 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