FIRST PRE BOARD – 2022-23
SUBJECT: ACCOUNTANCY(055)
Marking Scheme
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1.
(d) C’s Current A/c Dr 20.000
.
To A’s Capital A/c 15.000
To B’s Capital A/c 5.000
(1)
2. (c) A is true but R is false. (1)
3. (a) Rs 2,000 (1)
OR
(d) Non-Redeemable Debentures
4. (b) Rs. 1,000 (1)
OR
(c) 10% p.a.
5. (b) Rs 20,000 (1)
6. (a) 1,50,000 (1)
OR
(a) 10%
7. (b). 1,200 Shares (1)
8. (c) Nil (1)
OR
(c) Rs. 28,800
9. (a) Shown on Liability side of the Balance Sheet Rs. 1,50,000 (1)
10. (a) Credited to Partners Capital A/c Rs. 40,000 (1)
11. (c) Rs. 48,000 (1)
12. (b) Rs 50,000 (1)
13. (d) Rs.3,00,000 (1)
14. (c) A= Rs.11,600, B= Rs.10,500 and C= Rs.2,700 (1)
OR
, (b). Dr. A Rs. 1,200; Cr. B Rs. 800 and Cr. C Rs. 400
15. (b) Providing for Premium payable on Redemption of Debentures. (1)
16. (b) Loss Rs. 27,000 (1)
17.
Date Particulars LF Dr Amt Cr Amt
2022 Profit and Loss Suspense A/c Dr. 15,000
July 1 To Udit’s Capital A/c 15,000
(Being Udit’s share of profit
allowed till the death of his death)
Workings: Profit % to sales turnover for the year ended 31st
March,2022=1,20,000/10,00,000 X100= 12%
Estimated sales for the year ended 31st March,2022=Rs. 10,00,000+20% of Rs.
10,00,000 = Rs.
12,00,000
Estimated sales till 01st July,2022 = Rs. 12,00,000 x 3/12 = Rs. 3,00,000
Profit percentage 12-2=10%
Profit amount till 01st July, 2022 = 10% of Rs. 3,00,000 = Rs. 30,000
Udit’s share of profit till 1st July, 2022= 30,000 X 4/8 = Rs. 15,000 (1+2=3 marks)
18. Profit and Loss Appropriation Account
Particulars Amount Particulars Amount
To Net Profit to Capital a/c: By Net Profit b/d 1,40,000
Pratap 70,000 -
1,000 69,000
Ravi 42,000 –
1,000
Shyam 28,000 + 41,000
2,000
30,000
1,40,000 1,40,000
(3)
OR
Analytical Statement of Adjustment
Particular Kashyap Bharadwaj Vishwamitra Total
s Dr Cr Dr Cr Dr Cr
Profit 40,000 40,000 40,000 120,000
wrongly
given
Interest 10,800 9,600 8,400 (28,800)
SUBJECT: ACCOUNTANCY(055)
Marking Scheme
---------------------------------------------------------------------------------------------------------------------
1.
(d) C’s Current A/c Dr 20.000
.
To A’s Capital A/c 15.000
To B’s Capital A/c 5.000
(1)
2. (c) A is true but R is false. (1)
3. (a) Rs 2,000 (1)
OR
(d) Non-Redeemable Debentures
4. (b) Rs. 1,000 (1)
OR
(c) 10% p.a.
5. (b) Rs 20,000 (1)
6. (a) 1,50,000 (1)
OR
(a) 10%
7. (b). 1,200 Shares (1)
8. (c) Nil (1)
OR
(c) Rs. 28,800
9. (a) Shown on Liability side of the Balance Sheet Rs. 1,50,000 (1)
10. (a) Credited to Partners Capital A/c Rs. 40,000 (1)
11. (c) Rs. 48,000 (1)
12. (b) Rs 50,000 (1)
13. (d) Rs.3,00,000 (1)
14. (c) A= Rs.11,600, B= Rs.10,500 and C= Rs.2,700 (1)
OR
, (b). Dr. A Rs. 1,200; Cr. B Rs. 800 and Cr. C Rs. 400
15. (b) Providing for Premium payable on Redemption of Debentures. (1)
16. (b) Loss Rs. 27,000 (1)
17.
Date Particulars LF Dr Amt Cr Amt
2022 Profit and Loss Suspense A/c Dr. 15,000
July 1 To Udit’s Capital A/c 15,000
(Being Udit’s share of profit
allowed till the death of his death)
Workings: Profit % to sales turnover for the year ended 31st
March,2022=1,20,000/10,00,000 X100= 12%
Estimated sales for the year ended 31st March,2022=Rs. 10,00,000+20% of Rs.
10,00,000 = Rs.
12,00,000
Estimated sales till 01st July,2022 = Rs. 12,00,000 x 3/12 = Rs. 3,00,000
Profit percentage 12-2=10%
Profit amount till 01st July, 2022 = 10% of Rs. 3,00,000 = Rs. 30,000
Udit’s share of profit till 1st July, 2022= 30,000 X 4/8 = Rs. 15,000 (1+2=3 marks)
18. Profit and Loss Appropriation Account
Particulars Amount Particulars Amount
To Net Profit to Capital a/c: By Net Profit b/d 1,40,000
Pratap 70,000 -
1,000 69,000
Ravi 42,000 –
1,000
Shyam 28,000 + 41,000
2,000
30,000
1,40,000 1,40,000
(3)
OR
Analytical Statement of Adjustment
Particular Kashyap Bharadwaj Vishwamitra Total
s Dr Cr Dr Cr Dr Cr
Profit 40,000 40,000 40,000 120,000
wrongly
given
Interest 10,800 9,600 8,400 (28,800)
