D4.

Krihan Pnakus k

(2B00 7
CHENNAI SAHODAYA SCHOOLS COMPLEX

(General Instructions)
1. Please check that this question paper contains 34 questions.
2. Question from 1 to 16 and 27 to 30 carries one
mark each.
3. Question from 17 to &
20and 31 32 carries 3 marks each.
4. Questions from 21, 22 and 33 carries 4 marks each.
5. Questions from 23 to 26 and 34 carries 6 marks
each.
6. There is no overall choice. However, an internal chojce has been provided in 7
questions of one mark, 2 questions of three marks, I question of four marks
and 2 questions of six marks
7. Please write down the serial number of the question before attempting

it.
8. Reading time of 1 Sminutes is given to read the question paper alone. No Writing during this time.

COMMON EXAMINATION
Class-12

(Accountancy - 055)
Roll No.: Maximum Marks:80

Date: 03/01/2025 SET Time allowed: 3hours

1
Part A
(Accounting for Partnership Firms and Companies)
[Link] QUESTIONS Marks
Meena and Heena are partners sharing profits in the ratio of
1
1. Teena,
[Link]. Teena is guaranteed minimum profit of Rs. 80,000 per annum.
Net profit for the year ended 31" March ,2023 is Rss50,000
How much will be debited to Heena's capital account?
A.Rs20,000
B.Rs10,000

C.Rs50,000

D.Rs80,000
(A): Goodwill is valued on the basis of Normal business 1

2. Assertion
is determined by adding abnormal
profit. Normal business profit

abnormal gains
losses and deducting
from
of Machinery is not deducted
Reason (R):Profit or loss on sale
or Joss
net profit because it is asset of the firm, Profit
or added to the
profit or loss.
on is not an abnormal
on sale there
(R) is not the correct
A. Both (A) and (R)are
true, but

explanation
of ( A) of (A)
[Link] (A)and (R) are true and (R) is a correct explanation

[Link] (A) and (R) are false.

true but
(R) is false. a discount
D. (A) is act does not allow shares
at 1

3. Section 53 ofthe companies

54 allows
issue of shares at a discount , when they

However section
are issued as

A .Equity shares
B. Preference shares shares
and preference
C. Both Equity
equity shares.
D. Sweat (OR)
a discount of
at
of Rsl00 each
50,000 Debentures
Shiney Ltd issued Loss on issue of debentures
at a premium.
loss ale
10% and redeemable was written off from the
profit and

Rs.10. 00,000
which will be redeemed.
debentures
at which each
The amount
A.Rs105
[Link] 110
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55/1
CHENNAISAHODAYA SCHO0LS COMPLEX
[Link] 115
[Link] 120
4)
Karan and Vikas were partners in a firm sharing profits and losses

1
in

the ratio of 1:2. Their fixed capitals were Rs2,

00,000 and
Rs. 3, 00,000 respectively.
On lst April 2021,Kishan was admitted as a new partner for Vath

share in the profits .Kishan's share of goodwill is Rs.25,000 find out

total goodwill of the firm.
[Link] 3,00,000
[Link] 5,00,000
[Link] 1,00,000
[Link] 7,00,000

(OR)
Purab and Arab are partners sharing profits and losses equally. They
decided to admit Avanti into partnership for 1/6th share which was
contributed equally. On revaluation of assets and liabilities, the share

in loss of Purab was Rs.60,000 after debiting bad debts of Rs.20,000

and crediting land & building Rs.20,000 which was undervalued by

20%.
appeared at Rs.4,20,000 and provision for bad and doubtful
Debtors
debts appeared at 10% in the balance sheet. The revised value of
debtors and landand building in the reconstituted balance sheet will
be :
A. Debtors Rs.4,00,000 and Land Building Rs.1,00,000 &
B. Debtors Rs.3,98,000 and Land & Building Rs.80,000
C. Debtors Rs.3,58,000 and Land & Building Rs. 1,00,000
D. Debtors Rs.3,78,000 and Land Building Rs.1,00,000 &
5. The average profit earned by thefimis Rs.80,000 which includes 1

overvaluation of closing stock of Rs. 5,000 on an average basis. The

goodwill based on the basis of 5 years of the super profits

Rs1, 55,000the normal rate of return is 7% calculate super profits,

normal profits and capital employed.

[Link] 31,000, Rs49,000, Rs7,00,000

[Link] 49,000. Rs30,000, Rs7,50,000

C,Rs 31,000, Rs.54,000, Rs7,71,428

[Link] 80,000, Rs3 1,000, Rs5,60,000
6. P. S Ltd forfeited 500shares Rs.100 each for the non-payment of
of
first call of Rs.30 per share. The final call of Rs. 10 per share was not
made. The forfeited shares were issued for Rs.65,000 fully paid -up .

Amount of capital reserve will be ----

[Link] 45,000
[Link] 15,000
[Link] 65,000

[Link] 30,000
(OR)
Mittu Ltd. forfeited 10,000 Equity Shares of Rs. 10 each for non

payment of first and final call of Rs. 4 per share. Out of these, 5000
Equity were reissued at Rs. 7per share as fully paid
shares

What will be the minimum price at which the remaining Equity

Shares can be issued?
A.Rs40,000 .R34
B. Rs30,000
C. Rs50,000
[Link] 20,000
7. Casecade Ltd. issued, 50,000, 10 % Debentures of Rs50each at a 1

certain rate of premium and to be redeemed at 10 % [Link] the

time of writing off Loss on issue of debentures statement of profit
and was debited with Rs. 1,00,000. Ascertain the rate of premium
Joss
at which these debentures were issued?

A, 3%
B. 5%

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CHENNAI SAHDAYA SCHOOLS COMPLEX
C.6%
D. 10%
8. Janaki, a partner agreed to look the dissolution work

1
after for a
commission of Rs.5,000. Janaki agreed to bear the dissolution

expenses. Actual dissolution expenses Rs.5,500 were paid by Mohan,

another partner, on behalf of Janaki. How will it affect the books of
accounts at the time of dissolution.
A. Realisation account will be debited by Rs500
B Realisation account will be credited by Rs500
C Realisation account will be credited by Rs5,500
D. No effect on realisation account.

(OR)
A partner, Kavita, agreed to look after dissolution process for a
commission of Rs. 9,000. She also agreed to bear the dissolution
expenses. Kavita took over furniture ofRs. 9,000 for her

commission. Furniture had already been transferred to realisation

account. While passing journals which account will be debited or
credited?

A. Realiastion account will be debited by Rs.9,000

B .Kavitha's capital will be credited Rs.9,000
C. Kavitha's capital will be debited by Rs.9,000
D. No entry
9. Z have been sharing
X, Y,and profits in the ratio of [Link]
1

respectively. Z wants that he should be given equal share in profits

with X and Y and he further wants that the change in the profits

should come into effect retrospectively for the last three years. X and
Y no objections to this. The profit for last three years were Rs52,000;
Rs44,200; and Rss1,610
How much will be credited to Z 's capital a/c?

A Rs19,708
[Link] 49,270
[Link] 9,854
D. Rs59,124
10. Balance sheet of Angad and Ram as on 31st December 2022
Rs. Assets
Rs
Liabilities
Debtors 29,000
Creditors 38,000
following was
The firm was dissolved on 31st December 2022and
Other assets and liabilities were realised and paid off except
found.
realised from debtors
Debtors and Creditors, calculate the amount
taking in to account the following
:
and amount paid to creditors by
falling due on lst
November 2023 were realised at a
1) Debtors
of 6 % p.a.
discount
due on 31st January 2023 were paid @6%
2)Creditors falling

discount p.a.

Rs38,000
A.Rs28,000;
10
B. Rs27,550;Rs 37,8
[Link] 38,000; Rs28,000
D. Rs37,810:Rs28,000 on lst April2023.
into the partnership
11. Tinku andPinku entered of Rs.5,00,000 and
capitals
Partnership deed, they introduced
without gave loan to
November 2023. Tinku
respectively. On lst
Rs3.00,000 interest, Pinku
of Rs.2,00,000 without any agreement as to
the firm was also
of Rs1,00,000 on Ist November 2023,which
took loan
interest.
without agreementas to before interest on Ioan
31st March 2024,
Profit for the year ended
could not agree
on the rate of interest
was Rs.4,30,000. The partners of division of profit
or charged and the basis
on loan to be allowed will be debited to
Profit and
the journals how much
while passing
account?
loss Appropriation

[Link] 4,25,000

[Link] 4,30,000
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55/1
CHENNAISAHODAYA SCHOOLS COMPLEX
C. Rs4,20,000
D. Rs4,40,000
1
12. money Rs2 per
Application money is Rs.3 and allotment is share,

when the journal entry is passed which

Tace value of a share is Rs10,

will be credited, the following situation when the excess

.
in
account
application money is adjusted
2000 shares but allotted only 600 shares
Arul who has applied

A Share capital a/c and allotment a/c

[Link] capital ac and bank alc

C. Share capital a/c, allotment alc, bank alc

D. Share allotment alc , bank alc
13. Rs.20 each at a
Santosh Ltd issued 1.00.000 equity shares of

were received for 98,000

premium of Rs.2 per share. Applications
all were allotted, The company received all application
shares and

and allotment money except on 5000 shares who failed to pay

but paid with call and another shareholder

allotment of Rs.5 per share
holding 3000 shares paid the call money of Rs.3 along with

allotment. Call was made and 2000 shares failed

to pay the call

money. What is the amount received at the time of call?

A.Rs2,88,000

B.RS3,13,000
C.Rs3,04,000
D Rs2,79,000
A, B and
1
14 were partners in a firm sharing profits in the ratio of
C
[Link].From lst April2023, They decided to share profit in the ratio

[Link] For this purpose it was agreed that :

be appreciated by Rs.1,00,000. Machinery should be

Land should

depreciated by Rs.15,000.

Creditors amounting to Rs5000 were not to be paid.

You are required to record necessary journal entries

When partners do not want to alter the value of assets and liabilities

in the books.

Select the correct option

Date Particulars L.f Debit Rs Credit Rs
A) C's capital alc Dr 27,000

To A's capital a/c 21,000

To B's capital alc 6,000

B Revaluation a/c Dr 90,000

ToA's capital a/c 36,000

To B's capital a/c Dr 36,000
ToC's capital a/c 18,000

C) A's capital alc Dr 21,000

B's capital alc Dr 6,000

To C's capital a/c 27,000
D C's capital a/c Dr 36,000
To A's capital a/c 36,000

15. Raghu, Shamu,and Ramu were partners sharing profits and losses in
the ratio of [Link]. Shamu retired and his dues after accumulated
profits and losses and goodwill treatment, but before any revaluation
effect came out
be Rs.4,85,000. His account was being settled by
to
oiving him unrecorded assets of Rs50,000 and balance to be brought
in by Raghu and Ramu equally, What amount will be brought in by

Raghu?
A.Rs2,17,500

B.Rs2,50,000

C.Rs2,10,000

D Rs2,25,000 (OR)
were partners
in the ratio of their capital contribution
R
P, Q and Rs. 4, 00,000; Rs.5,00,000
Rs.6, 00,000; respectively
which were :March every year. P dies on 31t
on 31st
are closed
.Their books
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55/1
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CHENNAI SAHODAYA SCHOOLS COMPLEX

August 2022, Under the partnership deed, deceased partner is entitled

to his shareof profits /losses to the date of death
based on the
average profits of preceding three years .Profits
were 2022 Rs60,000
:Rs2021 Rs 30,000 :2020 RsI,20,000( loss) 2019 Rs 50,000. P's
share of profits /loss will be
A. Profit of Rs.4,667
B. Loss of Rs.9,333
C. Profit of Rs.49,000
D. Loss of Rs.7,000
16. Luck and Motive were partners in a firm sharing profits in the ratio
of 4:3 .They admitted Happy in to the partnership for 20 % of share
in the pro fits. Happy acquires his share of profits in the ratio of 1:2
from Luck and Motive, Calculate the new ratio.
A.[Link]
B.[Link]

C.[Link]

D,[Link]
17. Pass journals 3
1)A debtor Ramith for Rs.20,000 agreed to pay the dissolution
expenses which were Rs19,000 in full settlement of his debt

2)Vinoth, a partner, paid Realisation expenses of Rs20,000 and these

were to be borne by him
3) Sudha, a partner was allowed a remuneration Rs.10,000 to carry
of
out dissolution of the firm .She was to bear all expenses of realisation

which amounted to Rs.16,000 were paid bythe firm.

18. A and B are partners in a firm sharing profits in the ratio of 7:5 .On 3
1 April 2022, they admit C as a new partner for 1/6 th share,The
new share will be [Link]. C contributed the following assets towards
his capital and for share of Goodwill; Stock Rs.60,000; Debtors Rs.

80,000; Land Rs.2,00,000 ;Plant and Machinery Rsl,20,000 .On the

date of admission [Link] goodwill of the firm was valued at

Rs.7, 50,000 Record the necessary journals in the books of the firm
on C 's admission.
(OR)
David, Ellis, Fero, Parul and Zabir were partners in a firm sharing

profits in the ratio of [Link] respectively. Unfortunately Parul and

Zabir met with an accident in which both of them died.

The goodwill of the firm was valued at Rs.1,50,000 and David, Ellis

and Fero decided to share future profits in the ratio [Link]

respectively
Give journals for Goodwill, calculate gaining and sacrificing ratio

business from Rithanya 3

19. General Fore see Ltd, purchased a running

Ltd for Rs3, 00,000 payable by 20 % by cheque and balance by the

issue of fully paid Equity shares of Rs1 00 each at premium of 20 %.

Pass Journals:
and taken over were as follows :
The assets liabilities

Particulars
Book value Rs. Agreed value Rs.

1,00,000 1,30,000
Building
75,000 50,000
Machinery
1,10,000 1,00,000
Stock
35,000 40,000
Trade payables
60,000 50,000
Furniture
(OR)
for subscription. Applications were
Raggu Ltd offered 65,000 Shares

for 1,15,000 shares and pro -rata allotment was made to all
received
had applied for 29,900 shares and Mithun
the applicants .Lalitham

was allotted 8,450 shares

, calculate :
On the basis of the above information
9
were refused allotment?
1) How many applications

2) What is the pro-rata ratio?

to Lalitham?
shares were allotted
3) How many
Page 5
55/1
CHENNAI SAHODAYA SCHOOLS COMPLEX

were applied to Mithun?

How many shares
9)
20.
Anu, Bhanu, Chandu are partners In a firm sharing profits in the

ratio of [Link].On 31M March 2022, Anu retires and Bhanu and
to share future profits in the ratio of 2:1,
Chandu decided
appeared in their books on this date :
Following balances
Profit and loss we( Dr) Rs72,000

Employee 's provident fund Rsl,50,000

Workmen's compensation reserve Rs45,000
General reserve Rsl,20,000
It is agreed that workmen'scompensation is no more required, and

25%of the General reserve is to be transferred to Investment

Fluctuation Reserve. Pass journals.
21.
A Company issued shares of Rsl0 cach, first call of Rs 4 was
10,000 4
not received on certain number of shares for which these shares have
been forfeited by the directors. Final call of Rs2 was not made, Later
these were re-issued at a discount of Rs2 per share as fully paid up.
Rs 2,000 has been transferred to capital reserve account. Pass
journals and prepare forfeiture account.
22,
P, Q and R are partners in a firm sharing profits and losses in the 4
ratio of [Link]. Q dicd on 31st August 2020,and the balance
transferred to his executors was Rs3,40,.000,As per the agreement
Rs40,000 was being paid immediately the balance
and was to be paid
in three equal instalments together with interest@ 6 % p.a. on the
following dates.
Books are closed on 315 March every year.
First instalment on 31 t March
2021
Second instalment on 31 December
2021)
Third instalment on
31St July 2022
Prepare Q's executors account till is finally paid.
it
23.
Dinakar Ltd invited applications
for 40,000 Equity shares of Rs. 10 6
each

follows
at a
: premium of Rs.2.50 per share, The amount was payable as
On application -Rs2 per share
On allotment
And on call –
- Rs4.50 per share ( including premium )
Rs6 per share
Owing to heavy
subscription ,the
basis as follows : allotment was made on pro rata

a)Applications for20,000
shares were allotted
b)Applications for
c)
56,000 shares were
allotted
10,000sharesAje
Applications for 48,000 14,000 shares.
It was shares were allotted
decided that excess 16,000 shares.
amount
utilised on received,on
allotment and the applications would be
surplus would be
Raghuto whom refunded.
1,000 shares
(a), failed were allotted, who
to pay belongs to
allotment money category
the call .His shares
were forfeited
after
Pass the
necessary Journal
above transactions. entries in the
books of Dinakar
Ltd for the
alOn 1st April (OR)
2022, Ashok Ltd
Rs500 each
10 % at apremium
%
of5 and
issued 7,000,
debentures of
10 %
after 5years, redeemable at a
shr payable on
according to the
terms of issue,
premium of
application, and Rs200 was
required entries balance on
issue of debenture allotment.
hMaha Ltd took a Record the
loan of
1400. 9% Rsl,20,000 from a
debentures of bank and
primary security each as Rs10 deposited
worth Rs2 collateral
lakhs security along
Rs80,000 aftertwo .Company with
months from
bank and again tookloan of
debentures of Rs100
entries, How will
the balance
sheet
each as
collateral
you show the

the
issue of
deposited
security
Record
1,000

debentures and necessary

% , ,9
of
24. company.
X, Y and Z were
partners in firm,
bankloan
in
On 31st March 2023 Y sharing
profits in the
retired,X and Z
ratio of
55/1 decided to 6
sharefuture [Link].

Page 6
A
CHENNAI
À
SAHODAYA SCHOOLS
and losses
profits
COMPLEX
stoodas
follows :in the ratio
eaually .On
this date
Balance sheet
Balance sheet
as at 31st
Liabilities March 2023
Bank loan
RS
Assets Rs
Bills 1,00,000
payable Goodwill
20,000
50,000
General Bank
reserve60,000 1,20,000
Employee Debtors 85,000
40,000
provident fund Less:
provision4,000 81,000
Workmen
30,000
compensation Inventory 1,39,000
fund

Capital a/c:
X- 5,50,000
Y- 2,50,000
Z- 2,00,000 Furniture
1,20,000
10,00,000

Plant and machinery 2,00,000

Building
6,00,000
12,80,000
12,80,000
Additional information:
1) Goodwill of the firm Rs.
40,000.
2)Depreciate furniture @5
%,plantand machinery by 10
building by Rs.40,000 %and
3) Z took away
inventory of Rs. 40,000 at
4) There was a claim by Rs.60,000 for cash.
a worker for
5) Y was to be paid 50
% immediately brought in byfor
compensation Rs.10,000.
a way so as to make their X and Z in such
capital proportionate to their new
sharing ratio. profit

Prepare revaluation account and capital accounts.

A and B are (OR)

Partners of a firm sharing profit and losses in the ratio of
3:2. Their capitals were Rs60,000 and Rs40,000 as on lst April
2020,Net profit
during the year before
charging interest and salary is
Rs30,[Link] to the deed both the
partners are entitled to
Rs1,000 per month as salaries and 5%
interest on capitals, Their
drawings were Rs12,000 and Rs8,000 and interest
there on was
Rs. 600 and Rs. 400,
prepare profit and loss
appropriation account,
capital and current accounts.
25. Ramesh, Suresh, Mahesh were partners
Following is the balance
in the ratio of [Link]. 6
sheet on the date of dissolution
|Liabilities Rs Assets Rs
Creditors
60,000 Cash at bank
29,400
Bills payable 3,900 Stock
75,000
Provision for
22,500 Machinery 1,35,000
depreciation
Capital accounts Patents
30,000
Ramesh 2,02,500 2,62,500 100shares in A 7,500
Suresh 45,000
company.
Mahesh 15,000

300 shres in B 27,000

company
Profit and loss
45,000

3,48,900
3,48,900
Following terms were also decided :
1) Ramesh takes over the stock at a 20 % less its book value and
Machinery at Rs.60,000.
2)One of the some of the
creditors took patents whose book value
was Rs.12,000 a valuation,of Rs7,200.
at Balance of the creditors
was paid at a discount of Rsl,800

55/1 Page
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SCHOOLS COMPLEX
CHENNAII SAHODAYA
book value.
at % of their
70 at
was realised taken over by Suresh
3) Balance of p patents to be
were agreed
4) Shares in 'A' Company
All partners
Rs. 45 per share.
valued
Rsl8,000.

at
5) Shares in 'B'
Company were
sharing ratio.
shares in their profit not mentioned
divided these which as
of R$37.500
an old computer
O) There was worthy Rs15,000.
sheet was realised
In the Balance 6
Prepare realisation account. shares of
30,000 Equity
Ltd issued
26. April 1,2019, Sangam as follows:
On I st payable
of Rs4 per share
KST0each a premium l premium )
Rs6 on application
( including
(including I premium)
Rs2 on allotment

Rs3 on first call (

including I premium,
)
Rs3 on second call (including l premium
of which applications
for 45,000 shares,
were received Rest
Applications
rejected and their
money was refunded.
Tor 9,000 shares were basis.
were issued shares on pro-rata
of the applications allotment
were allotted, did not pay the
Hari to whom 600 shares Mohan who
forfeited, after the allotment.
money and his shares were
and his shares were
the two calls
applied for 1080 shares did not pay
forfeited.
of Rs
1200 forfeitedwere reissued as fully paid up on receipt
shares
Mohan's shares being included.
9 per shares, the whole
journals.
The company prepared cash book and passed
Answer the following questions:
book?
1)How much money will be credited in the cash
a)Rs54,000 b)Rs90,000 c) Rs45,000 d) Rs36,000

2) How many shares have been allotted to Mohan?

a) 1200b) 1000c) 900 d) 600
3) How much will be shown below the heading subscribed and fully

paid up?
a)29,700 b) 30,000 c) 38500 d) 39600
4) How much will be shown as capitalreserve?
a)Rs6000 b) Rs5000 c) Rs3000 d) Rs3,600
5) When the shares of Hari were forfeited how much would have
been debited to Equity share capital a/c?

a)Rs4000 b) Rs3,600 c) Rs6000 d) Rs5,400

6) When the shares of Hariwere forfeited pick out the correct
statement.

a) Securities premium will be debited by Rs600

b) Securities premium will be credited by Rs600

c) Securities premium will be debited by Rs480

d) Securities premium will be creditedby Rs480

PART B
(Analysis of financial statements )
27. Which analysis is considered as dynamic : 1

A)Horizontal Analysis B)Vertical Analysis

C)lnternal analysis D) External Analysis
(OR)
IfTrade receivable ratio is 7.2 times, state ,which of the following
would increase the Trade receivable turnover ratio

a)Return inwards Rs20,000

b)Credit sales Rs30,000

c)Provision for doubtful debts Rs10,000

d)Collection from debtors Rs50,000

28. While preparing cash flow statements which of the following
1
transaction (s) will result in no flow of cash
off.
A) Old furniture written
deposits in Bank
B) Short term
to
C)Discount received on making
Production expenses of Episode
payment
(Electronic Mt
sppliers
D)
Page 8
55/1
CHENNAI SAHODAYA SCHOOLS COMPLEX
1)Only (A) 2) Only (A) ,(B), (C)
3) Only (A),(B) 4) Only (D)
29.
Select the correct equation from the following :
A)Shareholder's funds = Non -current assets + Working capital
Non- current liabilities

B)Shareholders funds =Equity share capital+ Preference share capital

+ General reserve + Profit and loss Balance

C).Shareholder's funds = Equity share capital + current assets

-
current liabilities -Profit and loss (Dr)
D. Allthe above
(OR)
Select the Incorrect statements from the following :
A)A higher inventory turnover ratio indicates that inventory is being

rotated into revenue very quickly.

B) A lower working capital turnover ratio indicates

Under-utilisation

ofworking capital.
C) A higher debt- equity ratio indicates a risky financial position
from the long -term point of view.
D)A higher total- assets to debt ratio means a lower safety margin
for lenders.

30.
Statement Garments Ltd is engaged in export of ready
1: Kapil

made garments. The company purchased a machinery of Rs.

20,00,000 for the use in packing of such garments. To pay for the
machineryit raised Rs. 25,00,000 through Public Deposits and it has
paid interest ofRs. 1,20,000 for the same. Besides this, it earned a

The flow from Operating: investing and

profit of Rs. 8,00,000. cash
Rs. 20,00,000 and Rs. 25,00,000
financing activities are Rs. 8,00,000,

respectively.

:Non-marketablecurrent investments are to be

Statement II

considered as cash and cash equivalents while preparing Cash Flow

Statement.

A)Statement 1 is only correct

B)Statement II is only correct

C) Both land I Statements are correct.

D) Both land II Statements are incorrect.

31. Find the sub- heads under which the following item will appear in the 3
balance sheet ofa company as per schedule III part of the
I
companies act 2013?
a)Provision for provident fund b) Matured debentures

with in the operating cycle

c)Advances recoverable in cash

d) Work in progress e) Dividend receivable f) Patent being developed

by the company.
32. Complete the following commonsize profit and loss account:

Particulars Note Absolute % ofRevenue

no amounts from

Rs operations

I Revenue from 8,00,000 ?

operations
50
II Employee benefit

expenses
5
Other expenses
II. Total expenses
? ?

IV. Profit before tax

2
33. Calculate the opening and closing inventories from the following
information :
Revenue from operations; Rs.9,00,000 Gross profit on cost is 1/3;
Opening inventory is Rs20,000 more than that of closing Inventory
turnover ratio =6 times
(OR)
From the following figures pertaining to two components of A Ltd
COMPLEX
CHENNAI SAHODAYA SCHOOLS
CHI

Additi
the gross profit
perfume industry. Calculate
and B Ltd belonging to 1)Inte
company is doing better?
ratio of the two components
which
B Ltd Rs.
)12
|
Particulars A Ltd Rs.
1,10,000
3) Ta

Net profit after 75,000

Interest
15,000
Operating expenses 10,000
25,000
Interest paid on 15,000
debentures
3,80,000
Revenue from 3,30,000

operations (gross ) 20,000

Revenue from 10,000
operations (sales
returns)
34. from the following of Leela Ltd
Prepare a cash flow statement 2020
Note 2021
Particulars
no Rs. Rs.

Equity and liabilities

1)Shareholder's funds
25,00,000 20,00,000
a)Share capital
10,00,000 (2,50,000)
b)Reserves and surplus

2)Non -current liabilities

22,50,000 25,00,000
Long term Borrowings
3) Current liabilities
Short -term Borrowings 3 7,50,000 2,50,000

b)Short- term 3,50,000 4,50,000

1
provisions

Total 68,50,000 49,50,000

Assets
1)Non-current assets

a)Property. Plant and

equipment (fixed assets
)
i)Tangible assets 5 50,15,00036,00,000

ii)Intangible assets 1,00,000 1,50,000

a)Non Current investments 5,00,000 3,75,000
Current assets :
a)Current Investments 2,50,000 3,00,000
b)lnventories 7 5,35,000 2,25,000
c)Cash and Cash equivalents 4,50,000 3,00,000
Total 68,50,000 49,50,000
Note to accounts
Particulars 2021 Rs 2020 Rs
Reserves and surplus 10,00,000 (2,50,000)
Surplus i.e Balance in statement of
P& L
[Link] term borrowings 22,50,000 25,00,000
12 % Debentures
[Link] term borrowings
Cash credit 7,50,000
2,50,000
[Link]- term provisions
Provisions for tax
3,50,000 4.50,000
[Link] assets 60,15,000 41,05,000
Machineryf cost)

28. Less: Depreciation

(10,00,000) (5,05,000)
50,15,000
36,00,000
6. Intangible assets

Trade marks
1,00,000 1,50,000
[Link]
Stock -in Trade
5,35,000
[Link] and cash equivalents 2,25,000

Cash in hand
55/1 1,50,000
securities 3,00,000
Marketable 3,00,000

55/1 Page 10
CHENNAI SAHODAYA SCHOOLS COMPLEX
Additional information:
1)lnterest paid on Cash credit Rs10,000
2)12 % Debentures were redeemed on 31st March 2021
3) Tax paidRs3,50,000 during the year.

** End of the paper)

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