के न्द्रीयविद्यालयसंगठन ,कोलकातासंभाग

KENDRIYA VIDYALAYA SANGATHAN, KOLKATA REGION

प्री -बोडडपरीक्षा / PRE-BOARD EXAM. : 2024-25

कक्षा /CLASS: XII अविकतम अंक /MAX MARKS: 80

विषय /SUB: ACCOUNTANCY (055) समय/TIME- 03घंटे/ Hours

MARKING SCHEME

1 D. ₹80,000 1

2. C. A is incorrect but R is correct. 1

3 (I) B) called up share capital

OR 1
3 (II) C) Debited by Rs. 20,00,000

4 (I) A A) Working Note: Old share = new share + sacrificed share – gained share
Shiva’s = 17/40 + 1/5= 25/40
1
Kannan’s = 11/40 + 1/10 = 15/40
New ratio = 25:15 (or) 5:3 ( ½ mark for working and ½ for the correcrt answer, full
mark will be given if the student writes the correct option)

4 (II) C OR

C - Gain ₹ 16,000, ₹ 2,00,000 ( ½*2=1)

1
5. (A) Rs.1,25,000
Explanation- Normal Profit = Capital Employed x Normal Rate/100 Capital Employed
= A’s Capital + B’s Capital = 3,00,000 + 2,00,000 = Rs. 5,00,000. Normal Profit =
5,00,000 x 15/100 = Rs.75,000 Goodwill = Super Profit x No of Purchase Years
1,00,000 = Super Profit x 2 1,00,000/2 = Super Profit Super Profit = Rs. 50,000 Super
Profit = Average Profit – Normal Profit 50,000 = Average Profit – 75,000 50,000 +
75,000 = Average profit Average Profit = Rs. 1.25,000

6 (i) B Ans.(B)₹10,000 1
Or

6 (ii) B B-₹ 12,000

1
7 (B) 25,000 1

8 (i) C Rs11400
Or Or 1
8 (ii) A - Realisation Account will be credited by ₹ 60,000

9. B–Tulip willbe creditedby ₹4,200 1

10 Ranjit’s Capital A/c Dr 320000

Bank A/c Dr 208000 1
To Realisation A/C 528000
(Being the plant and machinery, whose book values were Rs 4,00,000 were taken over
by Ranjit for Rs 3,20,000 and the plant and machinery whose book values were Rs
1,60,000 were sold for Rs 2,08,000)
1
11 C-Rs. 1500
1
12 D- ESOP

13 A- NIL 1

14 C. Dr. A by Rs. 50,000; Cr. C by Rs. 50,000 1

15 (I) B -RS 45000

OR 1
15 (II) B – RS 67500

16 (B) 42:26:7
1
17 A. Realisation A/c Dr 40000
To Cash A/c 40000
(being creditors worth Rs 85,000 settled with Rs 40000 cash and investment worth 1*3-3
43000)
B. No entry will be passed as Liability is settled against asset without any cash
transfer

C. Cash A/c Dr 30000

To Realisation A/c 30000
(creditors worth Rs 90,000 accepted building worth Rs 1,20,000 and paid back
Rs 30,000 in cash after settlement of the claim)

2
18 Date Particulars LF Debit Credit
2
Kavi’sCapitalA/cDr. 81000
To, Ravi’s Capital A/cTo 18000
Kumar ’s Capital 18000
A/cToGuru‘scapitalA/c 45000
(goodwilltransferred)

Sacrifice/gainingratio
Kavi – 9/40 (gain) 1
Ravi-2/40(sacrifice)
Kumar– 2/40( sacrifice)
Or

1*3=3
Date Particulars L.F. Dr.(Rs.) Cr.(Rs.)

Rohit’sCapitalA/c Dr. 90,000

Mohit’sCapitalA/c Dr.
60,000
ToGoodwillA/c
(Goodwill appearing in books written 1,50,000
offinoldratio3:2)

BankA/c Dr. 4,70,000

ToRahul’sCapitalA/c
4,00,000
ToPremiumforGoodwillA/c
(Capital and part of premium 70,000
forGoodwillbroughtinbyRahul)

PremiumforGoodwillA/c Dr. 70,000

Rahul’sCurrentA/c Dr
30,000
ToRohit’sCapitalA/c
ToMohit’sCapitalA/c 60000
(Premiumforgoodwillcreditedtooldpartnersi 40000
nsacrificingratioof3:2)

3
19 Date Particulars L.F. Dr.(Rs.) Cr.(Rs.)

Assets A/c Dr 4000000

1.5*2=3
To Liabilties A/c 650000
To Raj Ltd A/c 3200000
To Capital Reseve A/c 150000
( being Business taken over and capital reserve
recorded)
Raj Ltd Dr 3200000
Loss on issue of Debentures A/c Dr 450000
3000000
To 8% Debenture Ac
150000
To Premium on redemption of Debenture A/s
500000
To Bank A/c
( Being purchase consideration discharged)
Or

Date Particulars L.F. Dr.(Rs.) Cr.(Rs.)

Share Capital A/c Dr 56000

To Share Forfeiture A/c
To Calls in Arrear A/c 40000
( Being Share forfeited) 16000

Bank A/c Dr 10000

Share Forfeiture A.c Dr 25000
To Share Capital A/c 350000
( Being the reissue of forfeited shares)

20 Date Particulars L.F Dr.Rs Cr.Rs

X’sCapitala/c Dr 15,000 -
Y’sCapitala/c Dr 75,000 -90,000 2
ToZ’sCapitala/c
(Z’s share of goodwill credited to
Zand debited to the gaining partners
in their gaining ratio)

4
 WORKINGNOTES
1
Calculation of hidden Goodwill:
Amount agreed to be paid to Z in fullsettlement of his claim 4,50,000
less: Z’sCapital (after all
adjustments) (3,60,000)
HiddenGoodwill(forZ’sShare) 90,000
Calculation of gaining Ratio
Gain of a partner =New profit share – old profit share
X’sGain=1/4 -1/6= 3/12- 2/12 = 1/12;
Y’sGain 3/4- 2/ 6= 9/12- 4/12 = 5/ 12
Gaining Ratio of X and Y= 1/ 12 :5/12= 1 :5

21 Name of the Company : Rickle Ltd.

Balance Sheet as at ……………….

Particulars Notenumber Amount

Equityandliabilitiesshareholdersfunds. 1
Share capital 1 2,79,600

Particulars Amount

1.Share 5,00,000
capitalauthorized ½
capital
50,000equitysharesofrupees10each

Issuedcapital 3,00,000
30,000 equitysharesofrupees10each 1/2

Subscribed 2,78,000 ½
CapitalSubscribedandfullyp
aidup
27,800equitysharesofrupees10each.
Subscribedbutnotfullypaidup
200equity sharesofRs.10each 2000 1600
Less:Calls-in-Arrears (200X2) 400
½
½
2,79,600
½
Noteto accounts:

5
22 White’sExecutorA/c

Date Particulars Amount Date Particulars Amount

2019 2019
May1 ToCashA/c 4,000 May1 Bybalanceb/d 44,000
To White’s Executor 40,000 1
Loan A/c
44,000 44,000

White’sExecutor’s LoanA/c

Date Particulars Amount Date Particulars Amount

2019 2019
Nov.1 ToCashA/c 22,400 May1 ByWhite’sExecutor 40,000
3
(20,000+2,400) Oct31 A/c 2,400
2020 ByInterest
Mar.31 ToBalancec/d 21000 40000*12*6
2020 100*12
31st
March By Interset on loan 1,000
------------ ( 20000*12/100*5/12)
43400 43400

2020 By balance B/d

1st April 21000
2020 1st May By Interst on loan
1st May To Bank A/c 210
( 21000*12%*1/12)
21210
( 20000+1000+210)

-------------- ------------
21210 21210

6
23
JOURNALOFYASHLTD.
Particulars LF DEBIT CREDIT

Bank a/c (1,20,000X3) Dr. 3,60,000 1/2

To equity shares application 3,60,000
A/c(Applicationmoneyreceived)

Equity Shares ApplicationA/c Dr. 3,60,000

To equity share capital 1,50,000
A/c(50,000X3) 1
To Equity Shares Allotment A/c(50,000 × 3)To 1,50,000
BankA/c (20,000 ×3) 60,000
(Applicationmoneyadjusted)

EquitySharesAllotmentA/c(( Dr. 1,50,000

(50,000X3)
To Equity Share Capital 1,00,000
1/2
A/c(50,000X2)
To Securities Premium 50,000
A/c(50,000X1)
(Allotmentmoneydue)

Equity Shares First and Final Call A/c 2,50,000

Dr.(50,000X5) 1/2
To Equity Share Capital 2,50,000
A/c(Callmoneydue)

BankA/c Dr. 2,37,500

Calls-in-ArrearsA/c(2500X5) Dr. 12,500 1
ToEquitySharesFirstandFinalCall A/c
(Callmoney receivedexcepton2,500shares)

Equity Share Capital A/c Dr.(2500X10) 25,000

To Calls-in-arrears A/c ( 2500X5)
To Forfeited Shares A/c(2500X5) 12,500
(Forfeiture of 2500 shares for non payment of call 12,500 1
money)

7
 BankA/c Dr. 60,000
To share capitalA/c(2500X10) 25,000
TosecuritiespremiumA/c(2500X14) 35,000 1/2
(2500sharesreissuedforRs.60,000fullypaid-up)

ForfeitedSharesA/c Dr. 12,500 1

ToCapitalReserveA/c 12,500
( Gain on reissue of 2500 shares transferred
toCapitalReserve)

23 A
Or
23A Date Particulars Debit Credit
A(i) BankA/c Dr 90,000
ToDebentureApplicationandallotmentA/c 90,000 2
(Beingapplicationsreceived)

DebentureApplicationandallotmentA/c Dr 90000
Lossonissueof DebnturesA/c Dr 15,000
To12%DebenturesA/c 100000
ToPremiumredemptionofdebentures 5000
(Being Debentures issued at
discountredeemableat premium)

Date Particulars Debit Credit

A(ii) BankA/c Dr 96,000
ToDebentureApplicationandallotmentA/c 96,000
(Beingapplicationsreceived)
2
DebentureApplicationandallotmentA/c Dr 96000
Lossonissueof DebnturesA/c Dr 8,000
To12%DebenturesA/c 80000
ToPremiumredemptionofdebentures 8000
To Securities Premium A/c 16000
(Being Debentures issued at
premiumredeemableat premium)

8
23 B Particulars LF Amount(Dr) Amount(Cr
BankA/C Dr 1,20,000
ToBank LoanA/c 1,20,000
(Loan taken from bank secured by 2
primarysecurity Worth Rs.2,00,000 and
Rs.1,40,0008%debentures asCollateral
security)
DebentureSuspenseA/c 1,40,000
Dr 1,40,000
To8%Debentures A/c
Revaluation A/c

Reval
Particulars Amount Particulars Amount
24 (I) uatio
ProvisionforDoubtful 4,000 Building 40,000
A/c
Debts 20,000
Machinery
Profittransferredto 8,000 2
A’sCapital 4,000
B’sCapital 4,000
C’sCapital 40,000 40,000

Partners Capital A/c

Particulars A B C Particulars A B C
B Capital 24,000 12,000 Balanceb/d 1,60,000 40,000 40,000
4
B’sLoan 90,000 A Capital 24,000
Balancec/d 1,60,000 80,000 C Capital 12,000
General
Reserve 10,000 10,000 10,000
Revaluation 8,000 4,000 4,000
Cash(bal.fig.) 6,000 38,000
1,84,000 90,000 92,000 1,84,000 90,000 92,000

9
 AdjustmentTable
24 OR Particulars ‘A’(Rs.) ‘B’(Rs.) ‘C’(Rs.) Firm(Rs.)
Profit Already (-)60,000 (-)1,20,000 (-)1,80,000 (+)3,60,000
Distributed(1:2:3)
InterestonCapitals (+)5,000 (+)10,000 (+)15,000 (-)30,000 4
SalaryTo‘A’5,000x12 (+)60,000 (-)60,000
Commission (+)16,500 (-)16,500
ProfittobeDistributed (+)50,700 (+)76,050 (+)1,26,750 (-)2,53,500
(2:3:5)
(+)55,700 (-)33,950 (-)21,750 Nil

CapitalRatioofProfit=1,00,000:2,00,000:3,00,000(OR)1:2:3CalculationOf
Commissionto “C”
TotalofProfitofthefirm
Rs.3,60,000(
-)InterestonCapitalToA,B,&C
(Rs.30,000)B
alanceAmount=3,30,000
Commissionto“C”=3,30,000x5/100=16,500
AdjustmentEntry
Date Particulars L.F. Dr.(Rs.) Cr.(Rs.)

2
2024 B’sCapitalA/cDr.C’sC 33,950
March apitalA/cDr. 21,750
31 ToA’sCapitalA/c 55,700
(AdjustmentEntryforInterestonCapitals,Salary,Co
mmission made)
Particulars LF Amount(Dr) Amount
(Cr)
25. (i) Ankit’A/c Dr 32,000
BankA/c Dr 52,000
ToRealisationA/c 84,000
(StockwasrealisedandtakenoverbyAn
kit) 1*6=6
(ii) Realisation A/c Dr 69,000
ToBank A/c 69,000
(Payment to creditors Rs 32,000 +
Rs37,000)

10
 (iii) RealisationA/c Dr 22,000
ToBank A/c 22,000
(Bobby’s sister’s loan paid along
withinterest)
(iv) Kartik’sloanA/cR D 12,000
ealisationA/c 500
ToBank A/c 12,500
( Being Kartik;s loan
settled)
(v) Ankit”Capitala/c Dr 4,000
Bobby‘s Capital a/c Dr 3,000
Kartik’sCapitala/c Dr 3,000
ToP&L Account 10,000
(P&Ldebitbalancedividedamongpa
rtners)
(vi) RealisationA/c Dr 5,000
ToBank A/c 5,000
(Workmen’scompensationsettled)

i. (c) Issue for consideration other than cash. 1*6=6

26 ii. b)Rs.2,99,800
iii. (c)Rs.400
iv. (a)Rs.600
v. (d). Rs.300
vi. (a) Rs 2100

27 (i)
(b)Judges’ operational efficiency
0r
27(ii) 0r 1
b)Debt will remain same and equity will increase.

28 C PurchaseofgoodsworthRs.50,000oncredit 1

29 (i)
(d)AlloftheAbove
Or 1
Or
29 (ii)
(d) Issueofbonusshares

11
30 ( c) CashflowfrominvestingactivitiesRs.34,000 1

31
Items MainHead SubHead
(i) Cheques and Bank Drafts in Hand Current Liabilities Cash&Cash
Equivalents
(ii)Loose tools Current Assets Inventory ½*6=3

(iii)Securities Premium Reserve Shareholders’Funds Reserve &Surplus

(iv)Long-Term Investments with Current Assets Current

maturity period less than six months Investments

(v) Work-in-Progress Current Assets Inventory

(vi) Mining Rights Non Current Assets Intangible Assets

Particulars note no 2022-23 2023=24 Absolute Change % change

32
I Revenue from 4,00,000 12,00,000 8,00,000 200%
½*6=3
operation
II. Expenses:
CostofMaterial 2,00,000 4,00,000 2,00,000 100%
Consumed

Other 40,000 80,000 40,000 100%

Expenses
Total 2,40,000 4,80,000 2,40,000 100%
Expenses
III.Profit 1,60,000 7,20,000 5,60,000 350%
BeforeTax
(Less)Tax (80,000) (3,60,000) 2,80,000 350%
(50%)
Profitafter ,80,000 3,60,000 2,80,000 350%
Tax

33 (I) Current Liabilities Rs.2,00,000; Liquid Assets Rs.2,00,000; StockRs.3,00,000 ( 1marks each for the 4
correct answer and 1 mark for the formulas)

OR

12
33 (II) ROI= 13.75% ( 1 marks for the formula and 3 marks for the correct explanation)

Cash Flow Statement 3+3

34
Particulars Amount (₹) Amount (₹)
I. Cash flow from operating activities:
Net profit before tax (working Note1) 2,00,000
Adjustment for non cash and non operating items:
Depreciation 30,000
Profit on sale of machinery (10,000) 20,000
2,20,000 1
Operating profit before working capital changes
Change in current assets and current liabilities:
Decrease in inventories 50,000
Increase in trade receivable (2,00,000)
Increase in trade payables 1,00,000 (50,000)
Net cash inflow from operating activities 1,70,000 1

II. Cash flow from investing activities:

Sale of plant 60,000
Purchase of plant (2,80,000)
Net cash used in investing activities (2,20,000) 1
III. Cash flow from financing activities:
Issue of share capital
1,00,000
Net cash inflow from financing activities
1,00,000 1
IV.Net increase in cash and cash equivalents
(I+II+III) 50,000 ½
V. Opening cash and cash equivalents 30,000
VI. Closing cash and cash equivalents
80,000 ½

13
 Plant and Machinery Account ( ½ Mark)

Particulars Amount Particulars Amount

To Balance b/d 3,00,000 By Bank A/c(Sale) 60,000
To Statement of P/L(Profit) 10,000 By Depreciation A/c 30,000
To Bank A/c(Purchase) 2,80,000 By Balance c/d 5,00,000

5,90,000 5,90,000

WORKING NOTE: 1 ( ½ Mark)

Calculation of Profit before Tax:
Net Profit after Tax: ( 350000-180000) = 170000
Add: Transfer to General Reserve ( 50000-20000) = 30000
------------------
200000

*********************************************

14