No. of pages - 16 (E)
MARKING SCHEME
MID-TERM EXAMINATION (2022-23)
CLASS : XII
SUBJECT : ACCOUNTANCY (055)
Time Allowed : 3 hours Maximum Marks : 80
1. (a) (i) Gaining (ii) Sacrificing 1
2. (a) ` 32,000 1
3. (c) ` 7 per share 1
4. (d) No Limit 1
5. (b) Both (A) and (R) are true and (R) is a correct explanation of (A) 1
6. (d) 26:19:15 1
7. (b) debited by ` 665 1
8. (d) Both (A) and (R) are wrong 1
9. (d) ` 4,00,000 1
10. (c) Credit side of realisation account 1
11. (a) Recorded on Credit side of partners capital account 1
12. (b) ` 30,000 1
13. (d) Interest on capital allowed to partners 1
14. (b) ` 9,000 1
15. (c) ` 1,02,400 1
16. (d) Writing off preliminary expenses 1
1 XII-ACCOUNTANCY-E
,17. Journal in the books of Tanu Ltd.
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 32,000
Securities Premium Reserve A/c Dr. 8,000
To Share Forfeiture A/c 8,000
To Calls in Arrears A/c 32,000
(Shares forfeited)
OR
Share Capital A/c Dr. 32,000
Securities Premium Reserve A/c Dr. 8,000
To Share Forfeiture A/c 8,000
To Share allotment A/c 20,000
To Share First Call A/c 12,000
(Shares forfeited)
Bank A/c Dr. 16,800
Share Forfeiture A/c Dr. 2,400
To Share Capital A/c 19,200
(shares reissued)
Share Forfeiture A/c Dr. 2,400
To Capital Reserve A/c 2,400
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
OR
2 XII-ACCOUNTANCY-E
, Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 9,000
To Share Forfeiture A/c 6,000
To Calls in Arrears/Share First Call A/c 3,000
(Shares forfeited)
Bank A/c Dr. 9,600
To Share Capital A/c 8,000
To Securities Premium Reserve A/c 1,600
(Shares reissued)
Share Forfeiture A/c Dr. 4,800
To Capital Reserve A/c 4,800
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
18.
Date Particulars L.F. Dr. ` Cr. `
Meena’s Capital A/c Dr. 90,000
To Leena’s Capital A/c 30,000
To Veena’s Capital A/c 60,000
(Being adjustment entry made for general
reserve)
3
3 XII-ACCOUNTANCY-E
MARKING SCHEME
MID-TERM EXAMINATION (2022-23)
CLASS : XII
SUBJECT : ACCOUNTANCY (055)
Time Allowed : 3 hours Maximum Marks : 80
1. (a) (i) Gaining (ii) Sacrificing 1
2. (a) ` 32,000 1
3. (c) ` 7 per share 1
4. (d) No Limit 1
5. (b) Both (A) and (R) are true and (R) is a correct explanation of (A) 1
6. (d) 26:19:15 1
7. (b) debited by ` 665 1
8. (d) Both (A) and (R) are wrong 1
9. (d) ` 4,00,000 1
10. (c) Credit side of realisation account 1
11. (a) Recorded on Credit side of partners capital account 1
12. (b) ` 30,000 1
13. (d) Interest on capital allowed to partners 1
14. (b) ` 9,000 1
15. (c) ` 1,02,400 1
16. (d) Writing off preliminary expenses 1
1 XII-ACCOUNTANCY-E
,17. Journal in the books of Tanu Ltd.
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 32,000
Securities Premium Reserve A/c Dr. 8,000
To Share Forfeiture A/c 8,000
To Calls in Arrears A/c 32,000
(Shares forfeited)
OR
Share Capital A/c Dr. 32,000
Securities Premium Reserve A/c Dr. 8,000
To Share Forfeiture A/c 8,000
To Share allotment A/c 20,000
To Share First Call A/c 12,000
(Shares forfeited)
Bank A/c Dr. 16,800
Share Forfeiture A/c Dr. 2,400
To Share Capital A/c 19,200
(shares reissued)
Share Forfeiture A/c Dr. 2,400
To Capital Reserve A/c 2,400
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
OR
2 XII-ACCOUNTANCY-E
, Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 9,000
To Share Forfeiture A/c 6,000
To Calls in Arrears/Share First Call A/c 3,000
(Shares forfeited)
Bank A/c Dr. 9,600
To Share Capital A/c 8,000
To Securities Premium Reserve A/c 1,600
(Shares reissued)
Share Forfeiture A/c Dr. 4,800
To Capital Reserve A/c 4,800
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
18.
Date Particulars L.F. Dr. ` Cr. `
Meena’s Capital A/c Dr. 90,000
To Leena’s Capital A/c 30,000
To Veena’s Capital A/c 60,000
(Being adjustment entry made for general
reserve)
3
3 XII-ACCOUNTANCY-E
