AHSEC HS 2nd Year Question Paper 2019 Accountancy

Total number of pages—20
29T ACOU

2019

ACCOUNTANCY

Full Marks : 100

Pass Marks : 30

Time : Three hours

The figures in the margin indicate full marks
for the questions.

Q. No. 1 carries 1 mark each
1 (a) 1×4 = 4
1 (b) 1×2 = 2
1 (c) 1×2 = 2

Q. Nos. 2–6 carry 2 marks each 2×5 = 10

Q. Nos. 7–11 carry 3 marks each 3×5 = 15

Q. Nos. 12–18 carry 5 marks each 5×7 = 35

Q. Nos. 19–22 carry 8 marks each 8×4 = 32

Total = 100

Contd.

1. (a) Fill in the blanks with appropriate word/words : 1×4=4
ά◊¬Û˚≈Mê√ ˙sÀ1 ‡±˘œÍ¬±˝◊√ ¬Û”1Ì fl¡1± –
(i) The liability of every shareholder of a company is ___________.
1
¤È¬± Œfl¬±•Û±Úœ1 √õ∂ÀÓ¬…fl¬ ’—˙¬ÛS Ò±1fl¬1 ŒÚ±1 ¬Ûø1˜±Ì __________º

(ii) Outstanding Subscription is shown on the ___________ side of
the Balance Sheet. 1
¬Û±¬ı˘·œ˚˛± ¬ı1„øÚ Î¬◊¬Z‘M ¬ ÛS1 __________ ¬Ûé¬Ó¬ Œ‡≈›ª± ˝˚˛º

(iii) If a partner takes over a liability of the firm, that partner’s
capital account is ___________. 1
˚ø ¤ÊÚ ’—˙œ±À1 ’—˙œ±1œ √õ∂øӬᬱÚ1 ¤È¬± Ÿ¬Ì ’øÒ¢∂˝ Ì fl¬À1, ŒÓ¬ÀôL√
’—˙œ±1 ÊÚ1 ˜”˘ÒÚ ø˝‰¬±¬Û ˝í¬ı __________º

(iv) Current ratio is the relationship between ___________ assets
and current liabilities. 1
‰¬ø˘Ó¬ ’Ú≈¬Û±ÀÓ¬ __________ ¸•ÛøM ’±1n∏ ‰¬ø˘Ó¬ ŒÚ±1 ¸•Ûfl«¬ fl¬ ¸”‰¬±˚˛º

(b) Choose the correct alternative : 1×2=2
qX ά◊M√1ÀȬ± ¬ı±Â√øÚ fl¡1± –
(i) Annual Report is issued by a company to its :
¤È¬± Œfl¬±•Û±ÚœÀ˚˛ ¬ı±ø¯∏«fl¬ √õ∂øÓ¬À¬ıÚ ø¬ıø˘ fl¬À1 –
(1) Directors
¸=±˘fl¬¸fl¬˘fl¬
(2) Auditors
ø˝‰¬±¬Û ¬Û1œé¬fl¬¸fl¬˘fl¬

29T ACOU [2]

(3) Shareholders
’—˙¬ÛSÒ±1fl¬¸fl¬˘fl¬
(4) Management.
¬Ûø1‰¬±˘Ú±˜G˘œfl¬º
(ii) Financial statements of a company include : 1
¤È¬± Œfl¬±•Û±Úœ1 ø¬ıMœ˚˛ ø¬ı¬ı‘øÓ¬À¬ı±11 ˜±ÊÓ¬ ’ôL√ˆ≈¬«Mê Δ˝ ’±ÀÂ√ –
(1) Only Cash Flow Statement
Œfl¬ª˘ Ú·ÒÚ1 √õ∂ª±˝ √õ∂øÓ¬À¬ıÚ
(2) Only Profit and Loss Account

Œfl¬ª˘ ˘±ˆ¬-Œ˘±fl¬‰¬±Ú ø˝‰¬±¬Û
(3) Only Balance Sheet
Œfl¬ª˘ ά◊ ¬Z‘M ¬ÛS
(4) All of the above.
›¬Û11 Œ·±ÀȬ˝◊Àfl¬˝◊Ȭ±º
(c) State whether the following statements are “True” or “False” :
Ó¬˘1 ¬ı±fl¡… Œfl¡˝◊√Ù¬±øfl¡ qX ŒÚ ’qX ø˘‡± –
(i) The deceased partner is entitled to a share of profit for the
period upto his death. 1
˜‘Ó≈¬… Œ˝±ª± øÚÕ˘Àfl¬ Œ˝±ª± ˘±ˆ¬1 ’—˙ ˜‘Ó¬ ’—˙œ±1ÊÚ1 √õ∂±¬Û…º
(ii) Profit or Loss on revaluation of assets and liabilities is
distributed among old partners in sacrificing ratio. 1
¸•ÛøM ’±1n∏ ŒÚ±1 ¬Û≈Ú1 ˜”˘…±˚˛Ú1 ¬Û1± Œ˝±ª± ˘±ˆ¬ ¬ı± Œ˘±fl¬‰¬±Ú ¬Û≈1∏øÌ ’—˙œ±1
¸fl¬˘1 ˜±ÊÓ¬ Ó¬…±·1 ’Ú≈¬Û±Ó¬Ó¬ ø¬ıÓ¬1Ì fl¬1± ˝˚˛º
29T ACOU [3] Contd.

2. Give two distinctions between a not-for-profit organisation and a trading
organisation. 2

˘±ˆ¬ ŒÚ±À˘±ª± õ∂øÓ¬á¬±Ú ’±1n∏ ¬ı…ª¸±ø˚˛fl¬ √õ∂øӬᬱÚ1 ˜±ÊÓ¬ Ôfl¬± ≈Ȭ± ¬Û±Ô«fl¬… ø˘‡±º

3. A and B are two partners sharing profits and losses in the ratio of 3 : 2.
3 2
C is admitted as a new partner for th share which he acquires th
10 10
1
from A and th from B. Calculate new profit sharing ratio. 2
10
A ’±1n∏ B ≈ÊÚ ’—˙œ±1 ’±1n∏ ŒÓ¬›“À˘±Àfl¬ 3 : 2 ’Ú≈¬Û±Ó¬Ó¬ ˘±ˆ¬-Œ˘±fl¬‰¬±Ú ¬ı∞I◊Ú fl¬ø1øÂ√ ˘º
3
ŒÓ¬›“À˘±Àfl¬ C-fl¬ ÚÓ≈¬Ú ’—˙œ±1 ø˝‰¬±À¬Û ˘íÀ˘º C-Œ˚˛ ˘±ˆ¬1 ’—˙ ¬Û±¬ıº ¤˝◊ ’—˙ ŒÓ¬›“
10
2 1
A1 ¬Û1± ’—˙ ’±1n∏ B 1 ¬Û1± ’—˙ ˘íÀ˘º ÚÓ≈¬Ú ˘±ˆ¬ ¬ı∞I◊Ú1 ’Ú≈¬Û±Ó¬ øÚÌ«˚˛ fl¬1±º
10 10

Give two conditions under which a partnership firm is dissolved.

’—˙œ±1œ ¬ı…ª¸±˚˛ ˆ¬—· ˝í¬ı ¬Û1± ≈Ȭ± øˆ¬øM ø˘‡±º

4. Mention any two features of a debenture. 2

Ÿ¬Ì¬ÛS1 ø˚Àfl¡±ÀÚ± ≈√Ȭ± Δ¬ıø˙©Ü… ά◊À~‡ fl¡1±º

5. What is the meaning of Cash Flow from Investing Activities ? 2

ìø¬ıøÚÀ˚˛±· fl¬±˚«…Sê˜1 ¬Û1± Œ˝±ª± Ú· ÒÚ1 √õ∂ª±˝î 1 ’Ô« ø˘‡±º

6. What is meant by “super profit” in relation to valuation of goodwill ?
2
¸≈Ú±˜ ˜”˘…±˚˛Ú ¸•Ûfl«¬Ó¬ ì’øÓ¬˘±ˆ¬î ˜±ÀÚ øfl¬ ¬ı≈ʱ∑

7. Mention three objectives of preparing financial statements. 3

ø¬ıMœ˚˛ √õ∂øÓ¬À¬ıÚ √õ∂dÓ¬fl¬1Ì1 øÓ¬øÚȬ± ά◊ÀV˙… ά◊À~‡ fl¬1±º

29T ACOU [4]

8. Calculate liquid ratio from the following information : 3

Ó¬˘Ó¬ ø˚˛± Ó¬Ô…1¬Û1± Ó¬1˘ ’Ú≈¬Û±Ó¬ øÚÌ«˚˛ fl¬1± –

Stock (˜Ê≈Ó¬ ¬ÛÌ…) = $ 50,000/-

Debtors (ŒÚ±±1) = $ 80,000/-

Bills Receivable (√õ∂±¬Û… ø¬ı˘) = $ 10,000/-

Advance Tax (’ø¢∂˜√õ∂M fl¬1) = $ 4,000/-

Cash (Ú·) = $ 30,000/-

Creditors (¬Û±›Ú±±1) = $ 60,000/-

Bills Payable (√õ∂À˚˛ ø¬ı˘) = $ 40,000/-

Machinery (˚La¬Û±øÓ¬) = $ 50,000/-

Bank Overdraft (Œ¬ı—fl¬ ’ˆ¬±1E±Ùƒ¬È¬) = $ 4,000/-

Debentures (Ÿ¬Ì¬ÛS) = $ 70,000/-

What is Comparative Statement ? Mention two objectives of preparing
Comparative Statement. 1+2=3

Ó≈¬˘Ú±˜”˘fl¬ ø¬ı¬ı‘øÓ¬ ˜±ÀÚ øfl¬∑ Ó≈¬˘Ú±˜”˘fl¬ ø¬ı¬ı‘øÓ¬ √õ∂dÓ¬fl¬1Ì1 ≈Ȭ± ά◊ÀV˙… ά◊À~‡ fl¬1±º

9. What are contingent liabilities ? Mention any two items. 1+2=3

¸y√√±¬ı… ŒÚ± ˜±ÀÚ øfl¬ ¬ı≈ʱ∑ ø˚Àfl¬±ÀÚ± ≈ø¬ıÒ1 Ú±˜ ά◊À~‡ fl¬1±º

Explain the average profit method of valuation of goodwill. 3

¸≈Ú±˜ ˜”˘…±˚˛Ú1 ·Î¬ˇ ˜≈Ú±Ù¬± ¬ÛXøÓ¬ ¬ı…±‡…± fl¬1±º

29T ACOU [5] Contd.

10. Calculate amount of medicines consumed to be shown in the Income and
Expenditure A/c for the year ended 31-12-2018 : 3

31-12-2018 Ó¬±ø1À‡ ’ôL√¬Û1± ¬ı¯∏«1 ’±˚˛-¬ı…˚˛ ø˝‰¬±¬ÛÓ¬ Œ‡≈ª±¬ı˘·œ˚˛± fi¯∏Ò1 ¬ı…ª˝±11 ¬Ûø1˜±Ì
øÚÌ«˚˛ fl¬1± :
01-01-2018 31-12-2018
(Rs.) (Rs.)

Stock of Medicines [fi¯∏Ò1 ˜Ê≈Ó¬] 3,000 500

Creditors for Medicines [fi¯∏Ò1 ¬ı±À¬ı ¬Û±›Ú±±1] 2,000 1,300

Amount paid for medicines during 2018 was Rs. 10,800/-.

2018 ¬ı¯∏«1 øˆ¬Ó¬1Ó¬ fi¯∏Ò1 ¬ı±À¬ı 10,800 Ȭfl¬± ¬Ûø1À˙±Ò fl¬1± Δ˝øÂ√˘º

Mention any three distinctions between Receipts and Payments A/c and
Income and Expenditure A/c. 3

ʘ±‡1‰¬ ø˝‰¬±¬Û ’±1n∏ ’±˚˛-¬ı…˚˛ ø˝‰¬±¬Û1 ˜±ÊÓ¬ Ôfl¬± ø˚Àfl¬±ÀÚ± øÓ¬øÚȬ± ¬Û±Ô«fl¬… ά◊À~‡ fl¬1±º

11. Mention any three limitations of Financial Statements. 3

ø¬ıMœ˚˛ √õ∂øÓ¬À¬ıÚ1 ø˚Àfl¬±ÀÚ± øÓ¬øÚȬ± ¸œ˜±¬ıXÓ¬± ά◊À~‡ fl¬1±º

Write three objectives of preparing Realisation Account. 3

˜”˘…±±˚˛fl¬1Ì ø˝‰¬±¬Û √õ∂dÓ¬ fl¬1±1 øÓ¬øÚȬ± ά◊ÀV˙… ø˘‡±º

29T ACOU [6]

12. North East Club had a Cash balance of $ 20,000/- and Bank balance of
$ 35,000/- respectively on 01/04/2017. From the following details prepare
a Receipts and Payments Account for the year ended 31/3/2018 : 5
ÚÔ« ˝◊©Ü flv¬±¬ı1 ˝◊— 01/04/2017 Ó¬±ø1‡Ó¬ Ú· ÒÚ ’±øÂ√˘ 20,000 Ȭfl¬± ’±1n∏ Œ¬ı—fl¬Ó¬ ʘ±
’±øÂ√˘ 35,000 Ȭfl¬±º Ó¬˘1 Ó¬Ô…1¬ Û1± 31/03/2018 Ó¬±ø1À‡ ’ôL√ ¬Û1± ¬ıÂ√ 1ÀȬ±1 ¬ı±À¬ı ʘ±
‡1‰¬ ø˝‰¬±¬Û √õ∂dÓ¬ fl¬1± .
Subscription Received [√õ∂±5 ¬ı1„øÚ] – (Rs.) (Rs.)
2016-17 30,000
2017-18 2,25,000
2018-19 10,000 2,65,000

Donation for Building [ˆ¬ªÚ1 ¬ı±À¬ı √õ∂±5 ±Ú] 60,000

Entrance Fee [√õ∂±5 √õ∂Àª˙ ˜±‰≈¬˘] 23,000

Life Membership Fee [’±ÊœªÚ ¸ˆ¬… ˜±‰≈¬˘] 20,000

Printing and Stationery [Â√¬Û± ’±1n∏ ˜ÀÚ±˝±1œ] 38,750

Lighting Expenses [ø¬ı≈…Ó¬1 ‡1‰¬] 26,250

Rent and Taxes Paid [ˆ¬±Î¬ˇ± ’±1n∏ fl¬1 ¬Ûø1À˙±Ò] 17,000

Telephone Charges [ŒÈ¬ø˘ÀÙ¬±Ú1 ‡1‰¬] 2,600

Postage [ά±fl¬] 2,000

Salaries [1˜˝±] 88,000

Insurance [¬ıœ˜±] 15,000

Interest Received [√õ∂±5 ¸≈Ó¬] 18,000

Locker Rent Received [˘fl¬±11 ˆ¬±Î¬ˇ± √õ∂±ø5] 42,000

Purchase of Furniture [’±‰¬¬ı±¬ı Sê˚˛] 2,00,000

Cash in hand as on 31-03-2018 23,400

( 31-03-2018 Ó¬±ø1‡Ó¬ Ú· ʘ± )

29T ACOU [7] Contd.

Explain in brief the treatment of the following items in preparation of
Income and Expenditure Account : 5
’±˚˛-¬ı…˚˛ ø˝‰¬±¬Û √õ∂dÓ¬ fl¬À1±ÀÓ¬ Ó¬˘Ó¬ ø˚˛± ¬Û¸˜”˝ 1 ø˝‰¬±¬Û ¸•Ûfl«¬œ˚˛ ¬ı…ª¶ö± ‰¬˜≈Õfl¬ ¬ı…±‡…± fl¬1± –
(i) Subscription [¬ı1„øÚ]

(ii) Life Membership Fee [’±ÊœªÚ ¸ˆ¬… ˜±‰≈¬˘√]
(iii) General Donation [¸±Ò±1Ì ±Ú]
(iv) Specific Donation [ø¬ıÀ˙¯∏ ±Ú]

(v) Legacy [ø˘À·øÂ√]

13. What is Cash Flow Statement ? Explain its three limitations. 2+3=5

Ú·ÒÚ1 √õ∂ª±˝ √õ∂øÓ¬À¬ıÚ ˜±ÀÚ øfl¬∑ ¤˝◊ √õ∂øÓ¬À¬ıÚ1 øÓ¬øÚȬ± ¸œ˜±¬ıXÓ¬± ¬ı…±‡…± fl¬1±º

From the following information calculate the cash from operating
activities :
Ó¬˘Ó¬ ø˚˛± Ó¬Ô…À¬ı±11 ¬Û1± ¬ı…ª¸±ø˚˛fl¬ fl¬±˚«Sê˜1 ¬Û1± Ú·ÒÚ1 √õ∂ª±˝1 ¬Ûø1˜±Ì øÚÌ«˚˛ fl¬1± .
2016 (Rs.) 2017 (Rs.)
Profit and Loss A/c [˘±ˆ¬ Œ˘±fl¬‰¬±Ú ø˝‰¬±¬Û] 3,00,000 2,50,000
Bills Receivable [√õ∂±¬Û… ø¬ı˘] 20,000 18,000
Provision for Depreciation [’ªé¬˚˛1 ¬ı±À¬ı ¸ø=Ó¬] 60,000 80,000
Outstanding Wages [ø¬ı˘·œ˚˛± ˜Ê≈ø1] 18,000 15,000
Prepaid Insurance [’ø¢∂˜ √õ∂M ¬ıœ˜±] 6,000 9,000
Goodwill [¸≈Ú±˜] 40,000 32,000
Provision for Doubtful Debts 10,000 14,000
[¸Àμ˝ÊÚfl¬ Ÿ¬Ì1 ¬ı±À¬ı ˆ¬ø¬ı¯∏…» ¬ı…ª¶ö±]
Debtors [ŒÚ±±1] 1,20,000 80,000
Cash and Bank Balance [Ú· ’±1n∏ Œ¬ı—fl¬1 ά◊¬Z‘M] 30,000 25,000

29T ACOU [8]

14. A business has a current ratio of 3:1 and a quick ratio of 1·2:1. If the
Working Capital is $ 1,80,000, calculate current assets and stock. 5

¤È¬± ¬ı…ª¸±˚˛1 ‰¬ø˘Ó¬ ’Ú≈¬Û±Ó¬ 3:1 ’±1n∏ Ó¬±1˘… ’Ú≈¬Û±Ó¬ 1·2:1 º ˚ø fl¬±˚«…fl¬1œ ˜”˘ÒÚ 1,80,000
Ȭfl¬± ˝˚˛, ŒÓ¬ÀôL√ ‰¬ø˘Ó¬ ¸•ÛøM ’±1n∏ ˜Ê≈Ó¬ ¬ÛÌ…1 ˜±Ú øÚÌ«˚˛ fl¬1±º

What are profitability ratios ? What is the significance of gross profit and
operating profit ratio ? 3+2=5

˘±ˆ¬ÊÚfl¬Ó¬± ’Ú≈¬Û±Ó¬À¬ı±1 øfl¬ øfl¬ ∑ ¸¬ı«˜≈ͬ ˘±ˆ¬ ’±1n∏ ¬ı…ª¸±ø˚˛fl¬ ˘±ˆ¬1 ’Ú≈¬Û±Ó¬1 &1n∏Q øfl¬ ∑

15. A, B and C were partners sharing profits in the ratio of 3:2:1 respectively.
Balance Sheet of the firm as at 31st March, 2017 stood as follows : 5

A, B ’±1n∏ C øÓ¬øÚÊÚ ’—˙œ±À1 ¤fl¬±øSêÀ˜ 3:2:1 ’Ú≈¬Û±Ó¬Ó¬ ˘±ˆ¬ ¬ıKÈ¬Ú ¬fl¬ø1øÂ√˘º 31 ˜±‰«¬,
2017 Ó¬±ø1À‡ ŒÓ¬›“À˘±fl¬1 √õ∂øӬᬱÚ1 ά◊¬Z‘M ¬ÛS‡Ú Ó¬˘Ó¬ ø˚˛± À1 ’±øÂ√˘ .
Balance Sheet [ά◊ Z‘M√¬ ÛS]
Liabilities [Œ√Ú±] [$] Assets [¸•ÛøM√√] [$]
Sundry Creditors 16,000 Building [ˆ¬ªÚ] 23,000
ø¬ıø¬ıÒ ¬Û±›Ú±√±1
Debtors [Œ√Ú±√±1] 7,000
Capital :
[˜”˘ÒÚ] – Stock [˜Ê≈√Ó¬ ¬ÛÌ…] 12,000
A : 20,000/-
Patent [Œ¬ÛÀȬKȬ¬] 8,000
B : 7,500/-
C : 12,500/- 40,000 Bank [Œ¬ı—fl¬] 6,000

56,000 56,000

29T ACOU [9] Contd.

"B" retired on the above date on the following terms :

Ó¬˘Ó¬ ø˚˛± ‰¬Ó«¬ ’Ú≈¸ø1, ά◊ ÛÀ1±Mê√ Ó¬±ø1À‡ B-Œ˚˛ ’ª¸1 ¬¢∂˝ Ì fl¬ø1À˘ .

i) Building to be appreciated by $ 8,800.

ˆ¬ªÚ1 ˜”˘… 8,800 Ȭfl¬±À1 ¬ı‘øX ¬Û±¬ıº

ii) Provision for doubtful debts be made @ 5% on debtors.

ŒÚ±±11 ›¬Û1Ó¬ 5% ˝±À1 ¸Àμ˝ÊÚfl¬ Ÿ¬Ì1 ¬ı±¬ı ˆ¬øª¯∏…Ó¬ ¬ı…ª¶ö± Ò±˚« fl¬ø1¬ı ˘±À·º

iii) Goodwill of the firm be valued at $ 9,000.

√õ∂øӬᬱÚ1 ¸≈Ú±˜1 9,000 Ȭfl¬±Ó¬ ˜”˘…±˚˛Ú fl¬1± ˝˚˛º

Pass necessary Journal Entries.

√õ∂À˚˛±ÊÚœ˚˛ ʱÀ¬ı± √õ∂ø¬ıø©Ü ø˚˛±º

What is share forfeiture ? State the procedure of forfeiture of shares.

2+3=5

’—˙¬ÛS1 ¬ı±ÀÊ˚˛±5fl¬1Ì ˜±ÀÚ øfl¬ ∑ ’—˙¬ÛS1 ¬ı±ÀÊ˚˛±5fl¬1Ì1 √õ∂øSê˚˛± ά◊À~‡ fl¬1±º

16. What is Partnership Deed ? Mention its four principal clauses.

1+4=5

’—˙œ±1œ ø˘˘ ˜±ÀÚ øfl¬ ∑ ’—˙œ±1œ ø˘˘1 ‰¬±ø1Ȭ± ˜≈‡… Ù¬± ά◊À~‡ fl¬1±º

29T ACOU [ 10 ]

Following is the Balance Sheet of P, Q and R as on March 31, 2018.
5
P, Q ’±1n∏ R-1 31 ˜±‰«¬, 2018 Ó¬±ø1‡1 ά◊¬Z‘M ¬ÛS‡Ú Ó¬˘Ó¬ ø˚˛± ˝í˘ ñ

Balance Sheet [ά◊ Z‘M√¬ ÛS]
Liabilities [Œ√Ú±] [$] Assets [¸•ÛøM√√] [$]
Sundry Creditors 16,000 Bills Receivable √[õ∂±¬Û… ø¬ı˘] 16,000
ø¬ıø¬ıÒ ¬Û±›Ú±√±1 Furniture [’±‰¬¬ı±¬ı] 22,600
General Reserve 16,000
¸±Ò±1Ì ¬¬Û≈“øÊ√ Stock [˜Ê≈√Ó¬ ¬ÛÌ…] 20,400
Capital Accounts : Sundry Debtors
˜”˘ÒÚ [ø¬ıø¬ıÒ ŒÚ±±1¬] 22,000
P : 30,000
Cash at Bank [Œ¬ı—fl¬Ó¬ ʘ±] 18,000
Q : 20,000
R : 20,000 70,000 Cash in Hand [Ú·¬ ʘ±] 3,000

1,02,000 1,02,000

Q died on June 30, 2018. Under the agreement the executors of the
deceased partner were entitled to :
30 Ê≈Ú, 2018 Ó¬±ø1‡Ó¬ Q-1 ˜‘Ó≈¬… ˝˚˛º ‰≈¬øMê˜ÀÓ¬ ˜‘Ó¬ ’—˙œ±11 √õ∂øÓ¬øÚøÒ ¸fl¬À˘ ¬Û±¬ı .

a) Amount standing to the credit of Partner's Capital A/c.
’—˙œ±11 ˜”˘ÒÚ ø˝‰¬±¬Û1 ŒSêøάȬӬ Ôfl¬± √õ∂±¬Û… ÒÚº
b) Interest on Capital @ 5% p.a.
¬ıÂ√ø1 5% ˝±À1 ˜”˘ÒÚ1 ›¬Û1Ó¬ ¸≈Ó¬º
c) Share of goodwill on the basis of twice the average of the past three
years' profit.
ø¬ı·Ó¬ øÓ¬øÚ¬ıÂ√ 11 ·Î¬ˇ ˘±ˆ¬1 ≈&Ì1 øˆ¬øMÓ¬ ¸≈Ú±˜1 ’—˙º

29T ACOU [ 11 ] Contd.

d) Share of profit from the closing of the last financial year to the date
of death on the basis of last year's profit (2017-18).

ø¬ı·Ó¬ ¬ıÂ√11 (2017-18) ˘±ˆ¬fl¬ øˆ¬øM ø˝‰¬±À¬Û Òø1 Δ˘ ø¬ı·Ó¬ ¬ıÂ√ 11 ¸±˜1øÌ Ó¬±ø1‡1 ¬Û1±
˜‘Ó≈¬…1 Ó¬±ø1‡Õ˘Àfl¬ ˘±ˆ¬1 ’—˙º

e) Profits for the last three years were :

ø¬ı·Ó¬ øÓ¬øÚ¬ıÂ√11 ˘±ˆ¬ ’±øÂ√ ˘ .
Year / ¬ı¯∏« Profit / ˘±ˆ¬
($)
2015 – 16 12,000/-
2016 – 17 16,000/-
2017 – 18 14,000/-

Prepare Q's capital account on the date of his death.

Q-1 ˜‘Ó≈¬…1 Ó¬±ø1‡Ó¬ ŒÓ¬›“1 ˜”˘ÒÚ ø˝‰¬±¬Û √õ∂dÓ¬ fl¬1±º

17. Distinguish between Realisation Account and Revaluation Account. 5

˜”˘…±±˚˛fl¬1Ì ø˝‰¬±¬Û ’±1n∏ ¬Û≈Ú1˜”˘…±˚˛Ú ø˝‰¬±¬Û1 ˜±ÊÓ¬ Ôfl¬± ¬Û±Ô«fl¬…À¬ı±1 ø˘‡±º

A and B are partners sharing profits equally. Balance Sheet on September
2018 was as follows : 5

A ’±1n∏ B ¸˜ ’Ú≈¬Û±Ó¬Ó¬ ˘±ˆ¬¬ ıKÈ¬Ú fl¬1± ’—˙œ±1 ’±øÂ√ ˘º Œ‰¬À5•§1, 2018 Ó¬±ø1‡Ó¬
ŒÓ¬›“À˘±fl¬1 ά◊¬Z‘M¬ ÛS‡Ú Ó¬˘Ó¬ ø˚˛± Ò1Ì1 ’±øÂ√ ˘º

29T ACOU [ 12 ]

Balance Sheet [ά◊ Z‘M √¬ÛS]
Liabilities [Œ√Ú±] [$] Assets [¸•ÛøM√√] [$]
Creditors [¬Û±›Ú±√±1] 11,200 Sundry Assets 59,000
ø¬ıø¬ıÒ ¸•ÛøM
Bills Payable √[õ∂À˚˛ ø¬ı˘] 1,800
Reserve Fund √[¸ø=Ó¬ ¬Û≈“øÊ] 6,000
Capitals :
˜”˘ÒÚ
A : 20,000
B : 20,000 40,000

59,000 59,000

The firm is dissolved on the above date. Assets are realised at $ 49,600.
Creditors allowed a discount of 2% and Dissolution Expenses came to $ 544.
ά◊¬ÛÀ1±Mê Ó¬±ø1‡Ó¬ √õ∂øӬᬱÚÀȬ±1 ’ª¸±Ú ‚ÀȬº ø¬ıø¬ıÒ ¸•ÛøMÀ¬ı±1 ø¬ıSê˚˛ fl¬ø1 49,600 Ȭfl¬±¬
’±±˚˛ Œ¬Û±ª± ·˘º ¬Û±›Ú±±1 ¸fl¬À˘ 2% Œ1˝±˝◊ øÀ˘ ’±1n∏ ’ª¸±˚˛Ú1 ¬ı±¬ı Œ˝±ª± ‡1‰¬1
¬Ûø1˜±Ì 544 Ȭfl¬± ˝í˘º
Give Journal Entries to close the books of the firm.
√õ∂øӬᬱÚÀȬ±1 ø˝‰¬±¬Û¬ı˝œÀ¬ı±1 ¬ıg fl¬ø1¬ı1 ¬ı±À¬ı ʱÀ¬ı± ¬√õ∂ø¬ıø©Ü ø˚˛±º

18. Discuss the process for allottment of shares of a company in case of
oversubscription. 5
’øÒfl¬ Sê˚˛¸iúøÓ¬1 Œé¬SÓ¬ Œfl¬±•Û±Úœ1 ’—˙¬ÛS ’±¬ıKȬÚ1 √õ∂øSê˚˛±ÀȬ± ’±À˘±‰¬Ú± fl¬1±º

Prepare a Comparative Income Statement from the following particulars :
5
Ó¬˘1 Ó¬Ô…1 ¬Û1± ¤‡Ú Ó≈¬˘Ú±˜”˘fl¬ ’±˚˛ √õ∂øÓ¬À¬ıÚ √õ∂dÓ¬ fl¬1± .

29T ACOU [ 13 ] Contd.

Particulars [ø¬ıª1Ì] 2017 [$] 2018 [$]
Sales 4,00,000 5,00,000
ø¬ıSê˚˛
Cost of Goods Sold 2,00,000 3,00,000
ø¬ıSê˚˛ ¸±˜¢∂œ1 Sê˚˛˜”˘…
Administrative Expenses 40,000 1,00,000
√õ∂˙±¸Ú1 ‡1‰¬
Other Income 20,000 30,000
’Ú…±Ú… ’±˚˛
Income Tax 60,000 70,000
’±˚˛fl¬1
19. Following is the Trial Balance of Rana and Raju as on 31st March, 2018 :
8
31 ˜±‰«¬, 2018 Ó¬±ø1À‡ 1±Ú±¬’±1n∏ 1±Ê≈1 ά◊¬Z‘M ø˜˘Ú ¬ÛS‡Ú Ó¬˘Ó¬ ø˚˛± Ò1Ì1 ’±øÂ√˘ .
Dr. Trial Balance [ά◊¡Z‘M√ ø˜˘Ú ÛS] Cr.
Particulars [ø¬ıª1Ì] [$] Particulars [ø¬ıª1Ì] [$]
Machinery [˚La¬Û±øÓ¬] 10,000 Capital :
Furniture [’±‰¬¬ı±¬ı] 20,860 ˜”˘ÒÚ –
Rent [‚1 ˆ¬±1±] 19,740 Rana = 65,000
1±Ú±
Salaries [1˜˝±] 9,000
Raju = 40,000 1,05,000
Debtors [Œ√Ú±√±1] 40,500
1±Ê≈
Cash in Hand [Ú·¬ ʘ±] 16,300 Creditors [¬Û±›Ú±√±1] 18,400
Cash at Bank [Œ¬ı—fl¬Ó¬ ʘ±] 45,000
Commission [dø1] 300
Drawings [’±˝√√1Ì] –
Rana [1±Ú±] = 4,000 Bank Loan [Œ¬ı—fl¬1 Ÿ¬Ì] 5,000
Raju [1±Ê≈] = 3,000 7,000 Trading Account
Closing Stock [¸±˜1øÌ ˜Ê≈Ó¬] 12,500 [Sê˚˛-ø¬ıSê˚˛ ø˝‰¬±¬Û] .
Commission √[dø1] 5,000 Gross Profit [˜≈ͬ ˘±ˆ¬] 57,200
1,85,900 1,85,900

29T ACOU [ 14 ]

Prepare the Profit & Loss Account and Profit & Loss Appropriation
Account for the year ended 31st March, 2018 and a Balance Sheet of the
Firm as on that date after taking into consideration the following
additional information :

Ó¬˘Ó¬ ø˚˛± ’øÓ¬ø1Mê ø¬ı¯∏˚˛¸˜”˝ ø¬ıÀ¬ı‰¬Ú± fl¬ø1 31 ˜±‰«¬, 2018 Ó¬±ø1À‡¬ ’ôL√¬ Û1± ¬ıÂ√ 1ÀȬ±1 ¬ı±À¬ı
˘±ˆ¬-Œ˘±fl¬‰¬±Ú ø˝‰¬±¬Û, ˘±ˆ¬-Œ˘±fl¬‰¬±Ú ά◊¬ÛÀ˚±ÊÚ ø˝‰¬±¬Û ’±1n∏ ά◊Mê Ó¬±ø1‡Ó¬ √õ∂øӬᬱÚÀȬ±1
ά◊¬Z‘M¬ ÛS √õ∂dÓ¬ fl¬1± .

i) Depreciate Machinery @ 10% p.a. and Furniture @ 20% p.a.

˚La¬Û±øÓ¬1 ›¬Û1Ó¬ ¬ıÂ√ø1 10% ’±1n∏ ’±‰¬¬ı±¬ı1 ›¬Û1Ó¬ ¬ıÂ√ø1 20% ’ªé¬˚˛ Ò±˚«… fl¬1±º

ii) Partners will get interest on Capital @ 5% p.a.

’—˙œ±1¸fl¬À˘ ¬ıÂ√ø1 5% ˝±À1 ˜”˘ÒÚ1 ›¬Û1Ó¬ ¸≈Ó¬ ¬Û±¬ıº

iii) Raju is entitled to a salary of $ 1,800 p.a.

1±Ê≈Àª ¬ıÂ√ø1 1,800 Ȭfl¬±Õfl¬ 1˜˝± ¬¬Û±¬ıº

iv) The Profit sharing ratio between Rana and Raju was 3 : 2 .

1±Ú± ’±1n∏ 1±Ê≈1 ˜±ÊÓ¬ ˘±ˆ¬ ¬ıKȬÚ1 ’Ú≈¬Û±Ó¬ 3 : 2 ’±øÂ√˘º

29T ACOU [ 15 ] Contd.

20. M. S. Limited issued 1,000 equity shares of Rs. 100 each payable as
follows : 8
On Application — Rs. 25 per share
On Allotment — Rs. 25 per share
On First Call — Rs. 20 per share
On Final Call — Rs. 30 per share
All the shares were duly subscribed for, called-up and paid-up, except
Mr. A holding 400 shares did not pay the final call money.
Show the entries in the Cash Book and Journal of the company for the
above transactions.
M.S. Ltd - ¤ √õ∂øÓ¬‡Ú 100/- Ȭfl¬± ˜”˘…1 1,000 ‡Ú ’—˙¬ÛS ø¬ıø˘ fl¬À1 ’±1n∏ ˝◊˚˛±fl¬ Ó¬˘Ó¬
ø˚˛± Ò1ÀÌ ¬Ûø1À˙±Ò fl¬ø1¬ı ˘±ø·¬ı .
’±À¬ıÚ1 ˘·Ó¬ ñ 25/- Ȭfl¬±
’±¬ıKȬÚ1 ˘·Ó¬ ñ 25/- Ȭfl¬±
√õ∂Ô˜ Ó¬˘¬ı1 ˘·Ó¬ ñ 20/- Ȭfl¬±
‰”¬Î¬ˇ±ôL√ Ó¬˘¬ı1 ˘·Ó¬ ñ 30/- Ȭfl¬±
’—˙¬ÛSÀ¬ı±11 ¬ı±À¬ı ¸•Û”Ì« ’±À¬ıÚ Œ¬Û±ª± ·í˘º Œ·±ÀȬ˝◊À¬ı±1 Ó¬˘¬ı fl¬1± ˝í˘ ’±1n∏
|œ˚≈Ó¬ A-1 ‰”¬Î¬ˇ±ôL√ Ó¬˘¬ı1 400 ‡Ú ’—˙¬ÛS1 ÒÚ1 ¬ı±ø˝À1 ¬ı±fl¬œ ¸fl¬À˘± ’Ô« Œ¬Û±ª± ·í˘º
Œfl¬±•Û±Úœ1 ¬ı˝œÓ¬ Ú·¬ı˝œ √õ∂dÓ¬ fl¬1± ’±1n∏ √õ∂À˚˛±ÊÚœ˚˛ ʱÀ¬ı± √õ∂ø¬ıø©Ü ø˚˛±º

Write short notes on : 3+3+2=8

‰¬˜≈ÀȬ±fl¬± ø˘‡± .

a) Redemption of Debentures
Ÿ¬Ì¬ÛS1 ¬Ûø1À˙±Ò
b) Loss on Isssue of Debentures
Ÿ¬Ì¬ÛS1 ø¬ıø˘fl¬1ÌÓ¬ Œ˝±ª± Œ˘±fl¬‰¬±Ú

29T ACOU [ 16 ]

c) Minimum Subscription.
Ú”…ÚÓ¬˜ ’±À¬ıÚº

21. S. K. Ltd. issued 1,000, 12% Debentures of Rs. 100 each. Give journal
entries for Redemption of the debentures in the books of the company
under the following conditions : 2+3+3=8
S. K. Ltd. - ¤ 100/- Ȭfl¬± ˜”˘…1 1,000 ‡Ú 12% Ÿ¬Ì¬ÛS ø¬ıø˘ fl¬ø1øÂ√˘º Ó¬˘Ó¬ ø˚˛±
’ª¶ö±¸˜”˝ 1 ¬ı±À¬ı Œfl¬±•Û±Úœ1 ¬ı˝œÓ¬ Ÿ¬Ì¬ÛS1 ¬Ûø1À˙±Ò1 ¸˜˚˛Ó¬ ˝í¬ı ¬Û1± ʱÀ¬ı± ¬√õ∂ø¬ıø©Ü ø˚˛±º
i) Issued at Par and Redeemable at par after 5 years.
¸˜˜”˘…Ó¬ ø¬ıø˘fl¬1Ì ’±1n∏ 5 ¬ıÂ√11 ø¬ÛÂ√Ó¬ ¸˜˜”˘…Ó¬ ¬Ûø1À˙±Òº
ii) Issued at Par and Redeemable at a premium of 5% after 5 years.
¸˜˜”˘…Ó¬ ø¬ıø˘fl¬1Ì ’±1n∏ 5 ¬ıÂ√ 11 ø¬ÛÂ√Ó¬ 5%¬ ’øÒ˝±1Ó¬ ¬Ûø1À˙±Òº
iii) Issued at a Premium of 5% Redeemable at Par after 5 years.
5% ’øÒ˝±1Ó¬ ø¬ıø˘fl¬1Ì ’±1n∏ 5 ¬ıÂ√ 11 ø¬ÛÂ√Ó¬ ¸˜˜”˘…Ó¬ ¬Ûø1À˙±Òº

Write short notes on : 2+2+2+2=8

‰¬˜≈ÀȬ±fl¬± ø˘‡± .
i) Authorised Share Capital
˜?≈1œfl‘¬Ó¬ ’—˙ ˜”˘ÒÚ
ii) Call-in-Arrear
¬ı±fl¬œ Ó¬˘¬ıœ
iii) Pro-Rata Allotment
¸˜±Ú≈¬Û±øÓ¬fl¬ ’—˙¬ÛS ’±¬ıKȬÚ
iv) Preference Share.
’¢∂±øÒfl¬±1˚≈Mê ’—˙¬ÛSº
29T ACOU [ 17 ] Contd.

22. Vimal and Nirmal are partners in a firm sharing profits and losses in the
ratio 3:2. Their Balance Sheet as on 31st December, 2018 was as under :
8
ø¬ı˜˘ ’±1n∏ øÚ˜«À˘ 3:2 ’Ú≈¬Û±Ó¬Ó¬ ˘±ˆ¬ ’±1n∏ Œ˘±fl¬‰¬±Ú ¬ıKÈ¬Ú fl¬1±1 ‰¬Ó«¬Ó¬ ’—˙œ±1 ’±øÂ√ ˘º
31 øάÀ‰¬•§1, 2018 Ó¬±ø1À‡ ŒÓ¬›“À˘±fl¬1 ά◊¬Z‘M¬ ÛS‡Ú Ó¬˘Ó¬ ø˚˛± À1 ’±øÂ√ ˘ .

Balance Sheet [ά◊ Z‘M √¬ÛS]

Liabilities [Œ√Ú±] [$] Assets [¸•ÛøM√√] [$]
Sundry Creditors 20,000 Cash √[Ú· ÒÚ] 14,000
ø¬ıø¬ıÒ ¬Û±›Ú±√±1
Capital Accounts : Debtors [ŒÚ±±1] 18,000
˜”˘ÒÚ ø˝‰¬±¬Û .
Vimal : Rs. 60,000 Machinery [˚La¬Û±øÓ¬] 50,000
Nirmal : Rs. 32,000 92,000
Stock [˜Ê≈Ó¬ ¬ÛÌ…¬] 40,000
Profit and Loss A/c 20,000
˘±ˆ¬-Œ˘±fl¬‰¬±Ú ø˝‰¬±¬Û
Goodwill [¸≈Ú±˜] 10,000

1,32,000 1,32,000

On that date Kailash was admitted as a new partner. He paid $ 40,000 as
his capital and $ 20,000 for his share of goodwill. The new profit sharing
ratio was agreed to be 2 : 1 : 1.

Pass Journal entries in the books of the firm and show the Balance Sheet
of the new firm.

ά◊¬ÛÀ1±Mê Ó¬±ø1À‡ Kailash -¤ ¤ÊÚ ÚÓ≈¬Ú ’—˙œ±1 ø˝‰¬±À¬Û øÚ˚≈øMê ¬Û±À˘º ŒÓ¬›“ øÚÊ1
˜”˘ÒÚ1 ¬ı±¬ı 40,000 Ȭfl¬± ’±1n∏ ¸≈Ú±˜1 ŒÓ¬›“1 ’—˙1 ¬ı±À¬ı 20,000 Ȭfl¬± ’±øÚÀ˘º ˘±ˆ¬ ¬ıKȬÚ1
ÚÓ≈¬Ú ’Ú≈¬Û±Ó¬ 2:1:1 ˝í¬ı ¬ı≈ø˘ ø¸X±ôL√ Œ˘±ª± ˝í˘º √õ∂øӬᬱÚ1 ¬ı˝œÓ¬ ʱÀ¬ı± √õ∂ø¬ıø©Ü ø˚˛± ’±1n∏
ÚÓ≈¬Ú √õ∂øӬᬱÚ1 ά◊¬Z‘M¬ ÛS √õ∂dÓ¬ fl¬1±º

29T ACOU [ 18 ]

What is goodwill ? Mention four factors affecting the goodwill of a firm.
Mention three conditions when valuation of goodwill becomes necessary.
1+4+3=8
¸≈”Ú±˜ ˜±ÀÚ øfl¬ ∑ √õ∂øӬᬱÚ1 ¸≈Ú±˜Ó¬ √õ∂ˆ¬±ª Œ¬Û˘±¬ı ¬Û1± ‰¬±ø1Ȭ± fl¬±1fl¬ ά◊À~‡ fl¬1±º ¸≈Ú±˜
˜”˘…±˚˛Ú1 √õ∂À˚˛±ÊÚœ˚˛Ó¬± ’±ø˝ ¬Û1± øÓ¬øÚȬ± ¬Ûø1ø¶öøÓ¬ ά◊À~‡ fl¬1±º

——— ×———

29T ACOU [ 19 ]

29T ACOU [ 20 ] 24.5+