il P U C PREPARATORI[ E&)fflffiifif{I#, JI,N-?

IO, 6 @
Time:3.15 Hours ACCOI.INTANCY - 30 Max. Marks: 100

Section - A
l. Answer any SEVEN questions. Each carrying Two marks. 7x2=14
1. What is depreciation?
2. What is fixed capital system?
3. What is Sacrifice ratio?
4. Write the Journal entry to close revaluation account. When there is profit.
5. What is Realization Account?
6. State any two types of Shares.
7. Write any two assets which are shown in fixed assets.
B. Write any two types of ratios.
9. What are non-profit organizations?
10. Give the meaning of data processing.

Section - B
ll.
Answer any four questions. Each carrying Five marks. 4x5=20
11. Hamsini and Vatsalya are partner sharing profits and iosses in the ratio of 3:2. On 1-4-2014 they had capitals
of Rs. 30,000 and Rs. 20,000 respectivety.
According to their parlnership deed they are entitled to the following :-
a) lnterest on capital al 6/" P.a.
b) lnterest on Drawings at 5% P.a.
c) Vastalya is allowed a salary ol Rs. 500 PM for lirst 6 months and for the remaining period Rs. 1000 P.M.
d) Theirdrawings during the year Hamsini Rs.8000 and Vatsalya Rs. 10,000. lnterest on the same Rs.400
and Rs. 500 respectively.
The Profit for the year before making the above adjustrnents-was Rs. 24,600.
Prepare P&L appropriation alc tor the year ending 31-3-2015.
12. X and Y are padners in a firm sharing Profits and losses in the ratio of 3:2. They admit Z into partnership. The
new profit sharing ratio is 4:3:3. calculate the sacrifice ratib of X and y.
13. A B and C are partners sharing profits and losses in the ratio of 2:2:1. Their capitals on 01-04-2015 were Rs,
50,000, Rs.30,000 and Rs. 25,000 respectivety
'A'died on 01-10-2015 and the partnership deed provided the tollowing:
a) Salary to'A'at Hs. 500 P.M.
b) lnterest on capital at 5% P.a.
c) His share of goodwilt. The Goodwill of the firm is valued at Rs. 2s,000.
d) His share in accrued profit upto the date of death amounted to Rs. 5,000
Prepare A's Capital Account.
14. Rajesh Company Ltd. issued 10,000, 10% debentures of Hs. '100 each at a discount of Rs.10 per debenture
payable as follows :-
a) Rs. 20 on application
b) Rs. 40 on allotment
c) Rs. 30 on first and final call.
All the debentures were subscribed and the money duly received upto the stage of allotment.
Pass the Journal Entries in the books of the company upto the stage allotment.
15. lndian Co. Ltd. had the following on 31-3-2015.
Current Assets { 4,B0,OOO
Current Liabilities < 1,20,000
Quick Assets < 2,4O,OOO
Calculate :- i) Current Batio ii) euick Ratio (p.T.o.)

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16. From the folowing tedger balances prepare R";p1;"d Payments Account of Cauvery Charitable Trust.
Cash in hand < 12,000
Periodicals Cos { 1,200
Furniture bought { 40,000

Postage t 500
Subscriptions Received { 24,000
Bent Paid < 10,000
Salary paid < 8,000
Electricity Charges t 1,000
17. Explain five qualities of information.
Section - C
lll. Answer any FOUR questions. Each carrying Fourteen marks. 4x14=56
18. From the following information prepare Machinery Account and Depreciation Account for four years ending
31-3-2015 under Diminishing balance method. Depreciation is being 1O"/" per annum.
a) Machine X was purchased on 01-04-2011 for Rs. 1,00,000
b) Machine Y was purchased on 01-10-2013 for Rs. 1,50,000
c) Machine X was sold on 01-'10-2014 for Rs.70,000
1g. P.Q. and R are partners sharing prolits and losses in the ratio of 5:3:2. respectively. Their Balance Sheet as
on 31-3-2015 was as under
Balance Sheet as on 31-3-2015
Liabilities Rs. Assets Rs.
Creditors 15,000 Cash at Bank 16,000
Bills payable 9,000 Bills Receivable 5,000
Reserve Fund 20,000 Debtors 30,000
Capitals Less : PBD 1.000 29,000
P - 50,000 Stock 20,000
Q - 30,000 Machinery 50,000
R - 20,000 1,00,000 Motor Car 14,000
P and L A/c 10,000
1,44,000 1,44,000
Mr.Q retired. The following adjustments are to be made
a) Stock is revalued at Rs. 28,000
b) Provision for doubtful debts to be brought upto 10olo oo debtors.
'107" respectively.
c) Machinery and motor car depreciated by 5% and
d) Outstanding rent to be provided for Rs. 1,200
e) Goodwill of the firm was raised for Rs. 50,000 and it has to be retained in the book.
Prepare :- a) Revaluation Account b) Partners Capital Account c) New Balance Sheet of the firm
zo. Chirag and Chintan are partners sharing profits and losses in the ratio of 3:2. They dissolved their firm on 31-
03-2015.
Balance Sheet as on 31-3-2015
Liabilities Rs. Assets Rs.
Creditor 20,000 Bank 21,000
Bills payable 17,000 Debtors 25,000
Chirag's Loan 21,000 (-) PBD l ooo 24,O00
Reserve Fund 10,000 lnvestments 10,000
P&LA/c 12,000 Stock 14,000
Capitals : Furniture 16,000
Chirag 50,000 Motor Car 30,000
Chintan 40,000 90,000 Computer 25,000
Buildings 30,000.
1,70,000 1,70,OOO

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 -3-
The details available are :-
a) Assets reaiised as follows :-
Debtors T 22,000
Stock { 16,000
Furniture { 14,000
Motor Car { 25,000
Buildings { 40,000
b) lnvestment is taken over by Chirag at book value.
c) Computer is taken over by Chintan at 10% less.
d) All liabilities are paid in full.
e) Realisation Expenses T 3000
Prepare :- i) Realisation A/c ii) Partner Capital A/c iii) Bank A/c
21 . Prem Co. Ltd. issued 10,000 Equity shares at ( 100 each at a premium of Rs. 10 per share payable as follows:-
T 10 on Application
< 50 on Allotment (lncluding premium)
t 30 on First Call
t 20 on Final call
All the shares were subscribed and the money duly received except on final call f0f 500 shares. The
Directors forfeited these shares and re-issued at t 90 each fully paid.
Pass the necessary Journal Entries related to the above information.
22. From the following Trial balance of Ratna Trading Co. Ltd., Prepare the financial statements for the year
ending 31st March 2015.

Sl.No. Particulars Debit Credit

t t
1" Sale of goods 5,50,000
2. Office Rent 50,000
3. Opening inventories 35,000
A
.+. Purchase of goods 1 70,000
5. Furniture 1 85,000
6. Trade payable 85,000
7. Plant & Machinery 1 00,000
B. Trade Receivable 1 60,000
I Surplus (opening balance) 10,000
10 10% Debentures 1,00,000
11 lnterest on Debentures 10,000
12 Fixed Deposit (6 months term) 70,000
13 Staff welfare expenses 12,000
14 Equity share capital 40,000 Share of Rs 10 each 4,00,000
15 Cash in hand and at Bank 63,000
16 Buildings 90,000
17 Rates & taxes 25,000
1B Salaries 55,000
19 Goodwill 1,25,000
2. General Fleserve 5,000
11,50,000 11,50,000
Adjustments :- a) Closing inventories { 45,000
b) Create provision for taxation at 30%
c) Transfer to General Reserve ( 5,000
d) Directors proposed dividend ol 10/"
e) Provide depreciation on plant and mabhinery at 10% and Buildings at 5%
(P.r.o.)

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23. From the following -4-
Balance Sheet prepare common size Balance Sheet of KSM Co. Ltd. as on 31st March 2014
and 2015.
Liabilities 31-03-14 < 31-3-15 t Assets 31-3-14 < 31-3-2015 {
Share capital 2,00,000 2,90,000 Land & Buildings 50,000 70,000
General Reserve 40,000 43,500 Plant & Machinery 1,00,000 1,00,000
P&L a/c 16,000 14,500 Furniture 30,000 62,000
Long term loan 18,000 20,000 Stock 7.000 8,000
Creditors 5,000 5,000 Debtors 40,000 58,000
Bills payable 2,000 2900 Bills Receivable 50,000 43,500
Bank overdraft 15,000 14,500 Cash 10,000 14,500
O/S expenses 2,000 1,600 Prepaid expenses 11,000 36,000
2,98,000 3,92,000 2,98,000 3,92,000
24. Following are the Balance Sheet and Receipts and payments Account of Mandya Sports club, manday.
Balance Sheet as on 31-03-20'14
Liabilities Rs. Assets Rs.
O/S Rent 3,600 Furniture 17,600
Capital Fund 1,22,700 Sports Materials 70,000
O/s Subscriptions 1.600
Cash in hand 1 7,1 00

Cash at Bank 20,000

1,26,300 1,26,300
Receip and payments A/c for the year endin 31-03-201s
Liabilities Rs. Assets Rs.
To Cash balance 17,100 By Salary 21,000
.17,800
To Bank balance 20,000 By Rent and Taxes
To entrance fee 10,900 By Legal Charges 1,700
To Donations 27,O00 By General expenses 3,500
To Subscriptions 46,000 By Sports materials 12,000
To lnterest 1,060 By Office expenses 8,600
To Sports fee 2,400 By lnvestments 30,000
By Cash Balance 13,860
By Bank Balance 16,000
,24,460 1,24,460
Adjustments :- a) O/s Subscriptions t 3,600
b) Ols Rent t 1800 and legal charges due { 300
c) Donations are to be capitalised.
d) Depreciate sports materials by { 8000 and Furniture by 1200
Prepare :- a) lncome and expenditure Account b) Balance Sheet

.
Section -D (Practical Oriented Questions)
lV.Answer any TWO questions, each carrying Five marks. 2x5=10
25. How do you treat the following in the absence of partnership deed?
a) lnterest on capital of partners
b) lnterest on Drawings of padners
c) lnterest on loan from partners
d) Distribution of profit or loss
e) Salary or commission to partners
26. Prepare Executors loan account with imaginary figures showing the repayment in two annual equal installments
along with interest.
27. Prepare the tree diagram of hierarchical data base model.

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