CBSE Class 12 Financial Accounting Question Paper 2019

SET-4
Series BVM H$moS> Z§.
Code No. 304
amob Z§. narjmWu H$moS >H$mo CÎma-nwpñVH$m Ho$ _wI-n¥ð
Roll No. >na Adí` {bIo§ &
Candidates must write the Code on the
title page of the answer-book.

 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _o§ _w{ÐV n¥ð> 15 h¢ &
 àíZ-nÌ _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Zå~a H$mo N>mÌ CÎma -nwpñVH$m Ho$ _wI-n¥>ð> na
{bI| &
 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _| >36 àíZ h¢ &
 H¥$n`m àíZ H$m CÎma {bIZm ewê$ H$aZo go nhbo, àíZ H$m H«$_m§H$ Adí` {bI| &
 Bg àíZ-nÌ H$mo n‹T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h¡ & àíZ-nÌ H$m {dVaU nydm©•
_| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>mÌ Ho$db àíZ-nÌ H$mo n‹T>|Jo
Am¡a Bg Ad{Y Ho$ Xm¡amZ do CÎma-nwpñVH$m na H$moB© CÎma Zht {bI|Jo &
 Please check that this question paper contains 15 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 36 questions.
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attempting it.
 15 minute time has been allotted to read this question paper. The question
paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the
students will read the question paper only and will not write any answer on
the answer-book during this period.

{dÎmr` boIm§H$Z
FINANCIAL ACCOUNTING

{ZYm©[aV g_` : 3 KÊQ>o A{YH$V_ A§H$ : 80
Time allowed : 3 hours Maximum Marks : 80

304 1 P.T.O.

gm_mÝ` {ZX}e :
(i) Bg àíZ-nÌ ‘| VrZ IÊS> - H$, I, Am¡a J h¢ & g^r IÊS> A{Zdm¶© h¢ O~{H$ AmÝV[aH$
{dH$ënm| H$m C„oI ZrMo {H$¶m J¶m h¡ &
(ii) EH$ àíZ Ho$ g^r ^mJm| Ho$ CÎma EH$ hr ñWmZ na {bIo OmZo Mm{hE &
IÊS> H$
 EH$ –EH$ A§H$ Ho$ 10 àíZ = 10 A§H$ (12 àíZm| ‘| go H$moB© Xg àíZ H$s{OE &)
 Xmo –Xmo A§H$ Ho$ 5 àíZ = 10 A§H$ (7 àíZm| ‘| go H$moB© nm±M àíZ H$s{OE &)
 VrZ –VrZ A§H$ Ho$ 5 àíZ = 15 A§H$ (7 àíZm| ‘| go H$moB© nm±M àíZ H$s{OE &)
IÊS> I
 nm±M –nm±M A§H$ Ho$ 5 àíZ = 25 A§H$ (7 àíZm| ‘| go H$moB© nm±M àíZ H$s{OE &)
IÊS> J
 Xg –Xg A§H$ Ho$ 2 àíZ = 20 A§H$ (3 àíZm| ‘| go H$moB© Xmo àíZ H$s{OE &)
General Instructions :

(i) This question paper contains three sections namely Section – A, B and C.
All sections are compulsory whereas internal choices are mentioned below.

(ii) All parts of a question should be attempted at one place.

SECTION A
 1 Mark  10 Questions = 10 Marks (Out of 12 Questions attempt
any ten questions)
 2 Marks  5 Questions = 10 Marks (Out of 7 Questions attempt
any five questions)
 3 Marks  5 Questions = 15 Marks (Out of 7 Questions attempt
any five questions)

SECTION B
 5 Marks  5 Questions = 25 Marks (Out of 7 Questions attempt
any five questions)

SECTION C
 10 Marks  2 Questions = 20 Marks (Out of 3 Questions attempt
any two questions)

304 2

IÊS> H$
SECTION A

{ZåZ{b{IV ~mah àíZm| ‘| go {H$Ýht Xg Ho$ CÎma Xr{OE & 110=10
Answer any ten out of the following twelve questions :

1. ¶{X H$moB© g‘Pm¡Vm Z hmo, Vmo gmPoXmam| Ho$ ~rM bm^ Ed§ hm{Z H$m {d^mOZ ________
AZwnmV ‘| hmoVm h¡ & ([a³V ñWmZ ^[aE &) 1

The profit and loss is distributed among the partners in ________ ratio if
there is no agreement. (Fill in the blank.)

2. gmPoXmar g§boI EH$ ________ h¡ & 1

(i) ‘m¡{IH$ g‘Pm¡Vm
(ii) {b{IV g‘Pm¡Vm
(iii) enW-nÌ
(ghr {dH$ën Mw{ZE &)
Partnership deed is

(i) an oral agreement

(ii) a written agreement

(iii) an affidavit
(Choose the correct option.)

3. ~¢qH$J ì¶dgm¶ Ho$ A{V[a³V Aݶ ì¶dgm¶ H$aZo dmbr EH$ ’$‘© ‘| gmPoXmam| H$s A{YH$V‘
g§»¶m ~VmBE & 1

State maximum number of partners in a firm doing business other than
banking business.

4. EH$ gmPoXma Ho$ AdH$me J«hU na A{Ybm^ AZwnmV H$s JUZm H$aZo H$m gyÌ {b{IE & 1

Write the formula to calculate gaining ratio at the retirement of a
partner.

304 3 P.T.O.

5. EH$ gmd©O{ZH$ {b{_Q>oS> H$ånZr Amaå^ H$aZo Ho$ {bE Amdí¶H$ gXñ¶m| H$s ݶyZV‘ g§»¶m
~VmBE & 1

State minimum number of members required to start a Public Limited
Company.

6. A§em| Ho$ ‘ݶyZV‘ A{^XmZ’ H$m ³¶m AW© h¡ ? 1

What is meant by the term ‘Minimum Subscription’ of shares ?

7. EH$ H$ånZr Ho$ VwbZ nÌ ‘| AMb n[agån{Îm¶m| Ho$ erf©H$ Ho$ AÝVJ©V {H$gr EH$ Cn-erf©H$
H$m C„oI H$s{OE & 1
Mention any one subhead under the head Non-current Assets in the
Balance Sheet of a company.

8. EH$ ì¶dgm¶ J¥h Ho$ {dÎmr¶ {ddaUm| Ho$ {díbofU ‘| é{M aIZo dmbo {H$Ýht Xmo njH$mam| Ho$
Zm‘ Xr{OE & 1
Name any two parties interested in analysis of financial statements of a
business house.

9. Eogr {H$Ýht Xmo VH$ZrH$m| H$m C„oI H$s{OE {OZH$m à¶moJ {dÎmr¶ {ddaUm| Ho$ {díbofU _|
{H$¶m OmVm h¡ & 1

Mention any two techniques which are used in analysis of financial
statements.

10. {dÎmr¶ {ddaU H$s H$moB© EH$ gr‘m {b{IE & 1

Write any one limitation of financial statement.

11. amoH$‹S> àdmh {ddaU AmYm[aV h¡ : 1

(i) boIm§H$Z Ho$ CnmO©Z AmYma na
(ii) boIm§H$Z Ho$ amoH$‹S> AmYma na
(iii) boIm§H$Z g‘rH$aU na

304 4

Cash flow statement is based upon :

(i) Accrual basis of accounting

(ii) Cash basis of accounting

(iii) Accounting equation

12. {Z{Y àdmh {ddaU ‘| ‘{Z{Y’ H$m AW© ~VmBE & 1

State the meaning of term ‘Funds’ in Funds Flow Statement.

{ZåZ{b{IV gmV àíZm| ‘| go {H$Ýht nm±M Ho$ CÎma Xr{OE & 25=10

Answer any five out of the following seven questions :

13. gmPoXmam| Ho$ ñWm`r ny±Or ImVo Am¡a Mmby (M‹T>Vo-KQ>Vo) ny±Or ImVo Ho$ ~rM {H$Ýht Xmo AÝVam|
H$mo {b{IE & 2

Write any two differences between Partners’ Fixed capital account and
Fluctuating capital account.

14. EH$ gmPoXma Ho$ ny±Or ImVo Ho$ Zm‘ nj Ho$ H$moB© Xmo ‘X Am¡a O‘m nj Ho$ H$moB© Xmo ‘X ¶h
‘mZVo hþE {H$ ny±Or ApñWa h¢, ~VmBE & 2
Mention any two items on the debit side and two items on the credit side
of capital account of a partner assuming capitals are fluctuating.

15. EH$ ‘{ZOr H$ånZr’ H$m ³¶m AW© h¡ ? 2
What is meant by a ‘Private Company’ ?

16. EH$ g§¶w³V ñH§$Y H$ånZr H$s H$moB© Xmo {deofVmE± ~VmBE & 2
State any two characteristics of a Joint Stock Company.

17. Omo A§e ~Å>o na {ZJ©{‘V {H$E JE h¢ CZHo$ haU {H$E OmZo H$s amoµOZm‘Mm à{dpîQ> {b{IE & 2

Write journal entry for forfeiture of shares which are issued at discount.

304 5 P.T.O.

18. emoܶ G$UnÌm| VWm Aemoܶ G$UnÌm| Ho$ ~rM AÝVa Ho$ Xmo {~ÝXþAm| H$m C„oI H$s{OE & 2

Mention two points of difference between Redeemable debentures and
Irredeemable debentures.

19. ‘amoH$‹S> AÝVdm©h (BZâbmo)’ VWm ‘amoH$‹S> ~{hJ©‘Z (AmCQ>âbmo)’ Ho$ AW© à˶oH$ H$m
H$‘-go-H$‘ EH$ CXmhaU XoVo hþE ~VmBE & 2

State the meaning of ‘Cash inflow’ and ‘Cash outflow’ by giving at least
one example of each.

{ZåZ{b{IV gmV àíZm| ‘| go {H$Ýht nm±M Ho$ CÎma Xr{OE & 35=15

Answer any five out of the following seven questions :

20. gmPoXmar H$m ³¶m AW© h¡ ? Eogo H$moB© VrZ àmdYmZ/dm³¶ ~VmBE {OÝh| Amn AnZr ’$‘© Ho$
gmPoXmar g§boI ‘| aIZm Mmh|Jo & 3

What is meant by Partnership ? State any three provisions/clauses you
would like to have in the Partnership deed of your firm.

21. ZrMo Xr JB© am{e¶m| go, Am¡gV bm^ Ho$ ny±OrH$aU H$s {d{Y Ho$ AZwgma »¶m{V H$s JUZm
H$s{OE : 3
(i) dmñV{dH$ Am¡gV bm^ = < 90,000
(ii) gm_mÝ` à{V\$b Xa = 15%
(iii) n[agån{Îm¶m± = < 9,70,000
(iv) Xo¶VmE± = < 5,50,000

From the figures given below, calculate goodwill according to the
capitalization of average profits method :
(i) Actual Average Profits = < 90,000

(ii) Normal Rate of Return = 15%
(iii) Assets = < 9,70,000
(iv) Liabilities = < 5,50,000

304 6

22. gmPoXmar Ho$ {dKQ>Z H$m AW© ~VmBE & Eogr H$moB© Xmo n[apñW{V¶m± ~VmBE {OZ‘| EH$ gmPoXmar
H$m {dKQ>Z hmo OmVm h¡ & 3
State the meaning of Dissolution of Partnership. Mention any two
circumstances when a partnership is dissolved.

23. g§¶w³V ñH§$Y H$ånZr VWm gmPoXmar Ho$ ~rM {H$Ýht VrZ {^ÞVmAm| H$mo ~VmBE & 3
Write any three differences between Joint Stock Company and
Partnership.

24. ‘àr{‘¶‘ na A§em| Ho$ {ZJ©‘Z’ H$m ³¶m AW© h¡ ? ³¶m A§em| Ho$ {ZJ©_Z na àmßV àr{‘¶‘ H$mo
Am¶JV (aodoݶy) bm^ H$s Vah {b¶m Om gH$Vm h¡ ? Cg ImVo H$m Zm‘ ~VmBE {Og‘|
{dÎmr¶ df© Ho$ AÝV ‘| A§em| Ho$ {ZJ©_Z na àr{‘¶‘ H$mo hñVm§V[aV H$a {X¶m OmVm h¡ & 3
What is meant by ‘Issue of Shares at Premium’ ? Is Premium revenue on
issue of shares treated as revenue profit ? Name the account to which
premium on issue of shares is transferred at the end of the financial year.

25. EH$ H$ånZr Ho$ VwbZ nÌ H$m àmê$n Cg‘| Ho$db ‘w»¶ erf©H$ XoVo hþE, ~ZmBE & 3
Draw a format of a company’s Balance Sheet giving therein the major
heads only.

26. H$ånZr A{Y{Z¶‘, 2013 H$s AZwgyMr III, ^mJ I Ho$ AZwgma {ZåZ{b{IV ‘X| {H$g erf©H$
Ed§ Cn-erf©H$ Ho$ AÝVJ©V {XI|Jo ? 3

(i) ñQ>mog© Ed§ ñno`a nmQ>©²g
(ii) Ȧm{V
(iii) AXÎm bm^m§e
Under which head and sub-head will the following items appear as per
Schedule III, Part 1 of the Companies Act, 2013 ?
(i) Stores and Spare Parts
(ii) Goodwill
(iii) Unpaid Dividend
304 7 P.T.O.

IÊS> I
SECTION B

{ZåZ{b{IV gmV àíZm| ‘| go {H$Ýht nm±M Ho$ CÎma Xr{OE & 55=25
Answer any five out of the following seven questions :

27. ahr‘ Am¡a gwbVmZ EH$ ’$‘© ‘| gmPoXma h¢ & CZH$m bm^ {d^mOZ AZwnmV 3 : 2 h¡ &
1
do bm^m| ‘| ^mJ Ho$ {bE ‘w‘VmµO H$mo àdoe XoVo h¢ & dh AnZr ny±Or Ho$ {bE
3
< 75,000 bmVr h¡ & »¶m{V ‘| CgH$m {hñgm < 30,000 h¡ naÝVw dh Ho$db < 20,000
ZJX bmVr h¡ Am¡a ‘w‘VmµO H$s »¶m{V H$m ~mH$s ~Mm eof CgHo$ Mmby ImVo ‘| hñVm§V[aV
H$a {X¶m OmVm h¡ &
’$‘© H$s nwñVH$m| ‘| Amdí¶H$ amoµOZm‘Mm à{dpîQ>¶m± H$s{OE & 5

Rahim and Sultan are partners in a firm. Their profit sharing ratio is
1 rd
3 : 2. They admit Mumtaz for share in the profits. She brought
3
< 75,000 for her capital. Her share of goodwill is < 30,000 but she brings
only < 20,000 in cash and the remaining share of Mumtaz’s goodwill is
transferred to her current account.
Record necessary journal entries in the books of the firm.

28. A Am¡a ~ H$s ’$‘© Ho$ {dKQ>Z Ho$ g‘¶ {ZåZ{b{IV Ho$ {bE amoµOZm‘Mm à{dpîQ>¶m± H$s{OE : 5

(i) ~¢H$ H$m G$U MwH$m¶m J¶m < 12,000 & (G$U H$s am{e dgybr ImVo ‘| hñVm§V[aV
H$s Om MwH$s Wr)
(ii) dgybr ImVo ‘| hñVm§V[aV {H$E Om MwHo$ < 90,000 Ho$ ñQ>m°H$ H$mo A Zo 10% ~Å>o
na bo {b¶m &
(iii) dgybr Ho$ 춶 < 1,500 ~ Ûmam MwH$mE JE &
(iv) EH$ n[agån{Îm go {OgH$m H$moB© boIm Zht Wm < 6,000 H$s dgybr hþB© &
(v) dgybr na hþB© < 14,000 H$s hm{Z A Am¡a ~ Ho$ ~rM 3 : 1 Ho$ AZwnmV ‘| ~m±Q>r
JB© &
304 8

Record journal entries for the following at the time of dissolution of the
firm of A and B :

(i) Bank loan paid < 12,000. (The loan amount was already
transferred to Realisation Account)

(ii) Stock already transferred to Realisation A/c of < 90,000 was taken
by A at 10% discount.

(iii) Expenses of realisation < 1,500 were paid by B.
(iv) An unrecorded asset realised < 6,000.

(v) Loss on realisation < 14,000 was distributed between A and B in
the ratio of 3 : 1.

29. g‘‘yë¶ na {ZJ©{‘V < 10 à˶oH$ Ho$ 1,000 A§em| H$m < 2 à{V A§e H$s A§{V‘ ¶mMZm
H$m ^wJVmZ Z hmoZo Ho$ H$maU haU H$a {b¶m J¶m & BZ A§em| H$mo nyU© XÎm A§em| Ho$ ê$n ‘|
< 8 à{V A§e H$s Xa go nwZ{Z©J©{_V H$a {X¶m J¶m &
A§em| Ho$ nwZ{Z©J©‘Z Ed§ haU Ho$ {bE amoµOZm‘Mm à{dpîQ>¶m± H$s{OE VWm haU Ho$ ’$bñdê$n
ny±Or H$mof Ho$ JUZ H$m¶© hoVw d{Hª$J ZmoQ²>g Xr{OE & 5
1,000 shares of < 10 each issued at par were forfeited for the non
payment of the final call of < 2 per share. These shares were reissued
@ < 8 per share fully paid up.
Pass journal entries for re-issue and forfeiture of shares with working
notes for calculation of capital reserve due to forfeiture.

30. A‘¥V H$ånZr {b{‘Q>oS> Zo B§{S>¶Z Q´>oS>g© go < 2,30,000 ‘yë¶ H$s ‘erZ H«$¶ H$s &
< 2,00,000 H$m ^wJVmZ EH$ aoIm§{H$V M¡H$ Ûmam H$a {X¶m J¶m Am¡a eof am{e Ho$ {bE
< 12.50 H$s Xa go < 10 à˶oH$ dmbo nyU© XÎm g‘Vm A§e {ZJ©{‘V H$a {XE JE &
{ZJ©{‘V {H$E JE A§em| H$s g§»¶m {ZH$m{bE VWm H$ånZr Ho$ OZ©b ‘| à{dpîQ>¶m± H$s{OE & 5
Amrit Company Ltd. purchased machinery worth < 2,30,000 from Indian
Traders. Payment was made as to < 2,00,000 by a crossed cheque and
remaining amount by issue of equity shares of < 10 each fully paid at an
issue price of < 12·50 each.
Calculate number of shares issued and pass entries in the company’s
journal.
304 9 P.T.O.

31. {ZåZ{b{IV Ho$ {bE G$UnÌm| Ho$ {ZJ©‘Z Ho$ g‘¶ VWm CZHo$ emoYZ Ho$ g‘¶ H$s OmZo dmbr
amoµOZm‘Mm à{dpîQ>¶m± d{Hª$J ZmoQ²>g Ho$ gmW Xr{OE :
< 100 à˶oH$ Ho$ A§{H$V ‘yë¶ dmbo < 2,00,000 Ho$ G$UnÌ g‘‘yë¶ na {ZJ©{‘V {H$E
JE naÝVw nm±M df© ~mX 5% àr{‘¶‘ na MwH$Vm H$a {XE JE & 5

Give journal entries to be made for the following at the time of issue and
at the time of redemption of debentures with working notes :
< 2,00,000 worth of debentures with face value of < 100 each issued at
par but redeemed at a premium of 5% after 5 years.

32. EH$ ’$‘© H$m Mmby AZwnmV 3 : 1 h¡ & BgH$s {Zdb (ewÕ) H$m¶©erb ny±Or < 3,00,000 h¡ &
‘mbgyMr (BÝdoÝQ´>r) H$mo < 2,20,000 ‘mZVo hþE AmnH$mo kmV H$aZm h¡ : (i) Mmby
n[agån{Îm¶m± (ii) Mmby Xo¶VmE± Ed§ (iii) Vab n[agån{Îm¶m± & 5

A firm has a current ratio of 3 : 1. Its net working capital is < 3,00,000.
You are required to determine (i) current assets, (ii) current liabilities,
and (iii) liquid assets assuming inventory of < 2,20,000.

33. E³g {b{‘Q>oS> H$m VabVm (Eo{gS>-narjU) AZwnmV 2 : 1 h¡ & ¶{X BgH$m ñQ>m°H$ < 20,000
h¡ VWm BgH$s Hw$b Mmby Xo¶VmE± < 50,000 h¢, Vmo BgHo$ Mmby AZwnmV H$mo kmV H$s{OE & 5

X Ltd. has a liquid (acid-test) ratio 2 : 1. If its stock is < 20,000 and its
total current liabilities are < 50,000, find out its current ratio.

304 10

IÊS> J
SECTION C

{ZåZ{b{IV VrZ àíZm| ‘| go {H$Ýht Xmo Ho$ CÎma Xr{OE & 102=20
Answer any two out of the following three questions :

34. E³g Am¡a dmB© 2 : 3 Ho$ AZwnmV ‘| bm^ {d^mOZ H$aZo dmbo gmPoXma h¢ & 31 ‘mM©, 2017
H$mo ’$‘© H$m VwbZ nÌ {ZåZ{b{IV àH$ma Wm : 10

31.3.2017 H$mo E³g Ed§ dmB© H$m VwbZ nÌ

am{e am{e
Xo`VmE± < n[agån{Îm`m± <
ny±{O`m± : ^y{‘ 5,00,000

E³g 8,00,000 ^dZ 6,00,000

dmB© 12,00,000 g§¶§Ì 8,00,000

boZXma 3,10,000 ’$ZuMa 1,20,000

AXÎm 춶 70,000 ñQ>m°H$ 1,80,000

XoZXma 1,00,000

amoH$‹S> 80,000

23,80,000 23,80,000

gmPoXmam| Zo {ZU©¶ {b¶m {H$ 1 Aà¡b, 2017 go do bm^m| H$m {d^mOZ g‘mZ AZwnmV ‘|
H$a|Jo & {ZåZ{b{IV g‘m¶moOZm| na gh‘{V ~Zr :
(i) ’$‘© H$s »¶m{V H$m ‘yë¶ < 4,00,000 bJm¶m J¶m &
(ii) ^y{‘ H$m ‘yë¶ < 8,00,000, g§¶§Ì H$m < 7,20,000 VWm ’$ZuMa H$m
< 1,00,000 Am±H$m J¶m Am¡a BÝh| VwbZ nÌ _| nwZ‘y©ë¶m§{H$V ‘yë¶m| na {XIm¶m
OmZm h¡ &
(iii) boZXmam| ‘| gpå‘{bV < 10,000 H$s Xo¶Vm CËnÞ hmoZo H$s H$moB© gå^mdZm Zht h¡ &
»¶m{V H$m boIm H$aZo Ho$ {bE amoµOZm‘Mm à{dpîQ> H$s{OE VWm nwZ‘y©ë¶m§H$Z ImVm ~ZmBE
(d{Hª$J ZmoQ²>g ^r {XImBE) &

304 11 P.T.O.

X and Y are partners sharing profits in the ratio 2 : 3. The Balance Sheet
of the firm as on 31st March, 2017 is given below :

Balance Sheet of X and Y as on 31.3.2017

Amount Amount
Liabilities < Assets <
Capitals : Land 5,00,000

X 8,00,000 Building 6,00,000

Y 12,00,000 Plant 8,00,000

Creditors 3,10,000 Furniture 1,20,000

Outstanding expenses 70,000 Stock 1,80,000

Debtors 1,00,000

Cash 80,000

23,80,000 23,80,000

Partners decided to share profits in equal ratio w.e.f. 1st April, 2017. The
following adjustments were agreed upon :

(i) The goodwill of the firm was valued at < 4,00,000.

(ii) Land was valued at < 8,00,000, plant at < 7,20,000 and furniture
at < 1,00,000 and were to appear at revalued amounts in Balance
Sheet.

(iii) A liability of < 10,000 included in creditors is not likely to arise.

Pass journal entry for treatment of goodwill and prepare Revaluation
Account (show working notes also).

304 12

35. E³g Am¡a dmB© EH$ ’$‘© ‘| 2 : 1 Ho$ AZwnmV ‘| bm^ {d^mOZ H$aVo hþE gmPoXma h¢ & bm^m|
1
‘| ^mJ Ho$ {bE O¡S> H$mo ’$‘© ‘| àdoe H$am¶m OmVm h¡ & dh ny±Or Ho$ ê$n ‘|
4
< 4,75,000 bmEJm & 31 ‘mM©, 2017 H$mo E³g Am¡a dmB© H$m VwbZ nÌ (O¡S> Ho$ àdoe Ho$
nyd©) {ZåZ{b{IV àH$ma Wm :

31.3.2017 H$mo E³g Ed§ dmB© H$m VwbZ nÌ

am{e am{e
Xo`VmE± < n[agån{Îm`m± <
boZXma 20,000 ~¢H$ ‘| ZJX 30,000

Xo¶ {~b 10,000 {d{dY XoZXma 20,000

gm‘mݶ H$mof 15,000 ñQ>m°H$ 25,000

ny±{O`m± : ’$ZuMa 12,500

E³g 1,25,000 ‘erZar 62,500

dmB© 80,000 ^dZ 1,00,000

2,50,000 2,50,000

g‘Pm¡Vo H$s Aݶ eV] {ZåZ{b{IV àH$ma h¢ :
(i) O¡S> AnZr »¶m{V Ho$ {hñgo Ho$ ê$n ‘| < 30,000 amoH$‹S> bmEJm {Ogo ì¶dgm¶ ‘|
hr ahZo {X¶m OmEJm &
(ii) O¡S> Ho$ àdoe Ho$ nyd© nwZ‘©yë¶m§H$Z H$m bm^ < 6,300 ‘mZ {b¶m OmEJm &
(iii) E³g Am¡a dmB© H$s ny±{O¶m± ZE gmPoXma O¡S> H$s ny±Or Ho$ AmYma na g‘m¶mo{OV H$s
OmE±Jr, ny±Or Ho$ Am{Y³¶ AWdm ݶyZVm (H$‘r) H$mo g§~§{YV gmPoXmam| Ho$ Mmby ImVo
‘| hñVm§V[aV H$a {X¶m OmEJm &

Amdí`H$ amoµOZm‘Mm à{dpîQ>¶m± H$s{OE VWm nyao d{Hª$J ZmoQ>²g Ho$ gmW gmPoXmam| Ho$ ny±Or ImVo
{XImBE & 10

304 13 P.T.O.

X and Y are partners in a firm sharing profits in the ratio of 2 : 1.
1 th
Z is admitted into the firm for share in profits. He will bring
4
< 4,75,000 as capital. The Balance Sheet of X and Y as on
31st March, 2017 (before Z’s admission) was as under :

Balance Sheet of X and Y as on 31.3.2017
Amount Amount
Liabilities Assets
< <
Creditors 20,000 Cash at Bank 30,000

Bills Payable 10,000 Sundry Debtors 20,000

General Reserve 15,000 Stock 25,000

Capitals : Furniture 12,500

X 1,25,000 Machinery 62,500

Y 80,000 Building 1,00,000

2,50,000 2,50,000

Other terms of agreement are as under :

(i) Z will bring < 30,000 in cash as his share of goodwill which will be
retained in the business.

(ii) Profit on revaluation before Z’s admission will be taken as < 6,300,

(iii) The capitals of X and Y are to be adjusted on the basis of capital of
new partner Z, the excess or deficit of capital will be transferred to
respective partner’s current account.

Record necessary journal entries and show Capital Accounts of the
partners with complete working notes.

304 14

36. {ZåZ{b{IV go ‘àMmbZ go amoH$‹S>’ {ZH$m{bE : 10
31.3.2018 31.3.2017
< <
XoZXma 1,80,000 2,00,000
g§XohnyU© G$Um| Ho$ {bE àmdYmZ 12,000 10,000
AXÎm doVZ — 20,000
{dH«$` ¶mo½¶ à{V^y{V¶m± 60,000 40,000
boZXma 45,000 50,000
Xo¶ {~b 10,000 —
‘mbgyMr (ñQ>m°H$) 3,50,000 3,00,000
nyd©XÎm 춶 12,000 10,000
amoH$‹S> Ed§ ~¢H$ eof 1,20,000 1,00,000
àm߶ {~b 15,000 20,000
31 ‘mM©, 2018 H$mo g‘mßV hmoZo dmbo df© Ho$ {bE < 30,000 H$m _yë`õmg Ho$ {bE
àmdYmZ H$aZo Ho$ ~mX bm^ < 4,50,000 Wm &
Compute ‘cash from operations’ from the following :
31-3-2018 31-3-2017
< <
Debtors 1,80,000 2,00,000
Provision for Doubtful Debts 12,000 10,000
Outstanding Salaries — 20,000
Marketable Securities 60,000 40,000
Creditors 45,000 50,000
Bills Payable 10,000 —
Inventories (Stock) 3,50,000 3,00,000
Pre-paid Expenses 12,000 10,000
Cash and Bank Balance 1,20,000 1,00,000
Bills Receivable 15,000 20,000
Profits for the year ended 31st March, 2018 amounted to < 4,50,000 after
providing for depreciation < 30,000.

304 15 P.T.O.