No. of pages - 16 (M)
MARKING SCHEME
MID-TERM EXAMINATION (2022-23)
CLASS : XII
SUBJECT : ACCOUNTANCY (055)
Time Allowed : 3 hours Maximum Marks : 80
1. (b) Loss of existing partners 1
2. (c) ` 12,000 1
3. (b) Only (ii) 1
4. (b) ` 1,200 1
5. (b) Both (A) and (R) are true and (R) is correct explanation of (A) 1
6. (c) 11:7:6 1
7. (c) ` 40,000 1
8. (a) Both (A) and (R) are true and (R) is correct explanation of (A) 1
9. (c) ` 10,000, ` 8,000, ` 6,000 1
10. (a) Debit side of realisation account 1
11. (d) Recorded on debit side of partners capital account 1
12. (a) ` 36,000 1
13. (a) Writing off capital losses 1
14. (d) ` 5,000 1
15. (c) ` 51,200 1
16. (a) ` 20,000 1
1 XII-ACCOUNTANCY-M
,17. 3
Date Particulars L.F. Dr. ` Cr. `
Mohit’s Capital A/c Dr. 45,000
To Rohit’s Capital A/c 15,000
To Vinit’s Capital A/c 30,000
(Being adjustment entry made for general
reserve)
Gaining share Rohit 1/10 (Sacrifice), Mohit 3/10 (Gain), Vinit 2/10 (Sacrifice)
18. Journal in the books of Sanju Ltd.
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 8,000
Securities Premium Reserve A/c Dr. 2,000
To Share Forfeiture A/c 2,000
To Calls in Arrears A/c 8,000
(Shares forfeited)
OR
Share Capital A/c Dr. 8,000
Securities Premium Reserve A/c Dr. 2,000
To Share Forfeiture A/c 2,000
To Share allotment A/c 5,000
To Share First Call A/c 3,000
(Shares forfeited)
Bank A/c Dr. 4,200
Share Forfeiture A/c 600
To Share Capital A/c 4,800
(shares reissued)
Share Forfeiture A/c Dr. 600
To Capital Reserve A/c 600
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
2 XII-ACCOUNTANCY-M
, OR
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 9,000
To Share Forfeiture A/c 6,500
To Calls in Arrears/Share First Call A/c 2,500
(Shares forfeited)
Bank A/c Dr. 8,800
To Share Capital A/c 8,000
To Securities Premium Reserve A/c 800
(Shares reissued)
Share Forfeiture A/c Dr. 5,200
To Capital Reserve A/c 5,200
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
19. (i) (c) A : 6/60 (Sacrifice), B : (1/60 (Gain), C :5/60 (Gain)
(ii) (d) ` 6,000
(iii) (b) ` debited by ` 500
(iv) (c) Loss of ` 30,000
(One mark for each correct entry) (1x4=4)
20. (i) (a) Nil
(ii) (d) ` 3,000
(iii) (c) ` 1:1
(iv) (d) Credited by ` 28,500
(One mark for each correct entry) (1x4=4)
3 XII-ACCOUNTANCY-M
MARKING SCHEME
MID-TERM EXAMINATION (2022-23)
CLASS : XII
SUBJECT : ACCOUNTANCY (055)
Time Allowed : 3 hours Maximum Marks : 80
1. (b) Loss of existing partners 1
2. (c) ` 12,000 1
3. (b) Only (ii) 1
4. (b) ` 1,200 1
5. (b) Both (A) and (R) are true and (R) is correct explanation of (A) 1
6. (c) 11:7:6 1
7. (c) ` 40,000 1
8. (a) Both (A) and (R) are true and (R) is correct explanation of (A) 1
9. (c) ` 10,000, ` 8,000, ` 6,000 1
10. (a) Debit side of realisation account 1
11. (d) Recorded on debit side of partners capital account 1
12. (a) ` 36,000 1
13. (a) Writing off capital losses 1
14. (d) ` 5,000 1
15. (c) ` 51,200 1
16. (a) ` 20,000 1
1 XII-ACCOUNTANCY-M
,17. 3
Date Particulars L.F. Dr. ` Cr. `
Mohit’s Capital A/c Dr. 45,000
To Rohit’s Capital A/c 15,000
To Vinit’s Capital A/c 30,000
(Being adjustment entry made for general
reserve)
Gaining share Rohit 1/10 (Sacrifice), Mohit 3/10 (Gain), Vinit 2/10 (Sacrifice)
18. Journal in the books of Sanju Ltd.
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 8,000
Securities Premium Reserve A/c Dr. 2,000
To Share Forfeiture A/c 2,000
To Calls in Arrears A/c 8,000
(Shares forfeited)
OR
Share Capital A/c Dr. 8,000
Securities Premium Reserve A/c Dr. 2,000
To Share Forfeiture A/c 2,000
To Share allotment A/c 5,000
To Share First Call A/c 3,000
(Shares forfeited)
Bank A/c Dr. 4,200
Share Forfeiture A/c 600
To Share Capital A/c 4,800
(shares reissued)
Share Forfeiture A/c Dr. 600
To Capital Reserve A/c 600
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
2 XII-ACCOUNTANCY-M
, OR
Date Particulars L.F. Dr. ` Cr. `
Share Capital A/c Dr. 9,000
To Share Forfeiture A/c 6,500
To Calls in Arrears/Share First Call A/c 2,500
(Shares forfeited)
Bank A/c Dr. 8,800
To Share Capital A/c 8,000
To Securities Premium Reserve A/c 800
(Shares reissued)
Share Forfeiture A/c Dr. 5,200
To Capital Reserve A/c 5,200
(Profit on reissue transferred to capital reserve)
(One mark for each correct entry) (1x3=3)
19. (i) (c) A : 6/60 (Sacrifice), B : (1/60 (Gain), C :5/60 (Gain)
(ii) (d) ` 6,000
(iii) (b) ` debited by ` 500
(iv) (c) Loss of ` 30,000
(One mark for each correct entry) (1x4=4)
20. (i) (a) Nil
(ii) (d) ` 3,000
(iii) (c) ` 1:1
(iv) (d) Credited by ` 28,500
(One mark for each correct entry) (1x4=4)
3 XII-ACCOUNTANCY-M
