ACCOUNTANCY

II-PUC
SECTION – A

1. Revenue Receipt
2. 2
3. False
4. All of the Above
5. Capital Reserve
6. Payment is Lumpsum
7. To provide information about economic resources.
8. Horizontal analysis
9. Earnings per share
10. 2:1

SECTION – B

11. Capital fund is the difference between the assets and liabilities of the not for profit
organization
12. a. Name and address of the feem
b. ___________________ all the partners
13. a. Aresage Profit
b. Super Profit Method
14. Realisation A/c Dr to Partner Capital A/c
15. When application for more shares of a company are received than the number
offered to the public
16. Do not reflect current situation Assets may not realize.
17. Better decision measuring success of the companies.
18. Study of trend in the financial position and operating performance of the business.

SECTION – C

19. DATE AMOUNT NO OF MONTHS PRODUCTS

01.05.2017 10,000 11 1,10,000
30.09.2017 8,000 6 48,000
01.11.2017 7,000 5 35,000
31.01.2018 12,000 2 24,000
2,17,000
9 1
Interest = 2,17,000 x x = 1628/-
100 12

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 3 1 2 1 1 1
20. Ankit =   Sachet  
3 5 15 3 5 15
New Share = Old Share = Share Sacrificed
3 2 92 1
Ankit =   
5 15 15 15
2 1 6 1 5
Ankit =   
5 15 15 15
1 3
Rame = 7:5:3 
5 15

21. C’S Executors A/c

By C’S Capital A/c Rs. 40,000
Reserve Fund A/c Rs. 10,000
G/w A/c Rs. 30,000
Int On Capital A/c Rs. 2,400
P & L Suspense A/c Rs. 3,000
Rs. 85,400

To balance A/c 85400

22. C. R Current Assets

Current Liabilities
= 2,40,000 = 0.8
3,00,000

Quick ratio = 1,20,000 = 0.2 / 0.4

2,40,000

23.
PARTICULARS AMOUNT PARTICULARS AMOUNT
No Partners Salary Maneesh 4800 By Profit & Loss 40000
Int on _________
Partners communication Maneesh 800
Girish (40000-480000) x 3520 Girish 700 1500
10/100

Maneesh 7000
Girish 5600 12600
Profit Transferred to
Maneesh s 10290
Girish 10290 20580

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 41500 41500

24.
RECEIPTS AMOUNT PAYMENTS AMOUNT
To Balance b/d By investment 80000
Cash hand 5000 By Rent 20000
Cash at Bank 25000 30000 By General Exp 21000
To Subscription 165000 By Postage and Telegrams 2000
To Donation 35000 By Courier Charges 1000
By Sunday Exp 2500
By Balance
Cash in Hand 12000
Cash at Bank 91000 103000
230000 230000

25.
PARTICULARS DEBIT CREDIT
Bank A/c Dr 200000
To 10% debenture Application A/c 200000
10% debenture application A/c Dr 200000
To 10% debenture A/c 200000
10% debenture allotment A/c Dr 500000
To 10% debenture A/c 500000
Bank A/c Dr 500000
To 10% debenture Allotment A/c 500000
10$ debenture first and final call A/c Dr 300000
To 10% debenture A/c 300000
Bank A/c Dr 300000
To 10% debenture First & Final call A/c 300000

26. INCOME & EXPENDITURE A/C

Expenditure Amount Income Amount
To Salary 25000 By Subscription 57000
(+) o/s Salary 5000 Entrance Fees 3000
30000 Sale of old news paper 3000
(-)o/s salary 7000 23000 Sports Fees 9500
400
Electric Charges 1600
Upkeep of ground 6500
Dep on sports material 8400
Excuse of income 32600

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 72500 72500

BALANCE SHEET AS ON 31.03.2018

LIABILITIES AMOUNT ASSETS AMOUNT
O/s Salary 5000 Cash 19500
Capital Fund 186100 Sports Materials 44600
Furniture’s 21000
Investments 15000
Land & Building 90000
O/s 1000
191100 191100

27. REVALUATION A/C

To Depn on machinery 3000 By buildings 5000
PBD 1000 Investment 5000
To Partners Capital
Raja 3600
Rani 2400 6000
10000 10000

PARTNERS CAPITAL A/C

Raja Rani Mantri Raja Rani Mantri
To P & L A/c 3000 2000 - By Balance B/d 6000 40000 -
Cash 6000 4000 - Cash - - 30000
GK 15000 10000 -
Rev A/c 3600 2400 -
To balance C/d 75600 50400 30000 G/W 6000 4000 -
84600 56400 30000 84600 56400 30000

BALANCE SHEET AS ON 01.04.2018

LIABILITIES AMOUNT ASSETS AMOUNT

Creditors 40000 Cash 35000
B/P 20000 Machinery 57000
Capital :- Stock 25000
Raja 75600 Debtors 19000
Rani 50400 Buildings 55000
Mantri 30000 156000 Investments 25000
216000 216000

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 28. REALIZATION A/C
Particulars AMOUNT Particulars AMOUNT
To Machinery 70000 By Creditors 60000
Investments 50000 B/P 20000
Stock 22000 Sonnies Capital
Debtors 103000 (Investment) 50000
Sonus Capital 2000 Tanus Capital 45000
Bank Debtors 51000
Loss transferred to
Tanus Capital 12600
Sonus Capital 8400 21600
247000 247000

PARTNERS CAPITAL A/C

Tanu Sonu Tanu Sonu
To Real A/c / Invest - 50000 By Balance B/d 90000 80000
Debtors 45000 - Reserve fund 6000 4000
To Real A/c Loss 12600 8400 Realisation Exp - 2000
Bank 38400 27600 6000 -
96000 86000 96000 86000

Bank A/c
To balance B/d 15000 By Tanus Capital A/c 38400
Realization A/c ` 51000 By Sonus Capital A/c 27600
66000 66000

29.
PARTICULARS DEBIT CREDIT
Bank A/c Dr 400000
To Share App A/c 400000
Share App A/c Dr 400000
To Share Capital A/c 400000
Share Allotment A/c Dr 1000000
To Share Capital A/c 800000
To Security Premium A/c 200000
Bank A/c Dr 1000000
To Share Allotment A/c 1000000
Share 1st Call & Final Call A/c Dr 800000

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 To Share capital A/c 800000
Bank A/c Dr 760000
To Share 1st & Final Call A/c 760000
Share Capital A/c Dr 100000
To Forfeited Shares A/c 60000
To 1st and Final Call A/c 40000
Bank A/c Dr 90000
Forfeited Share A/c Dr 10000
To Capital A/c 10000
Forfeited Shares A/c Dr 50000
To Capital reserve A/c 50000

30. Particulars 2016 % 2017 % 2018%

1. Share holders fund
Share Capital 100 125 150
Reserve & Surplus 100 150 200
2. Non Current ------
Long term loans 100 50 25
3. Current -------
Trade Payable 100 133.33 66.67
100 112.5 93.75

ASSETS
1. Non Current assets
Fixed Assets 100 125 112.5
2. Current Assets
Inventory 100 80 40
Trade Receivable 100 125 100
Cash 100 150 200
100 112.5 93.75

31. Inventory Turn over ratio = 8,00,000 = 8 times

1,00,000

Debtors Turn over ratio = 6,00,000 = 4 times

1,50,000

Creditors Turn over ratio = 5,00,000 = 2 times

2,50,000

G/P Ratio = 200000 x 100 = 90%

1000000

Operating Ratio = 900000 x 100 = 90%

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 1000000
N/P Ratio = N/P x 100 = 200000 x 100 = 10%
Net Sales 1000000

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