rom

.
Fromthe following
information prepare
P/L Appropriation A/c for the year ended 31/3/22
a

(a) Interest @ 10%

on Capital p.a.
b) Capital of A-750,000, B-760,000, C-70,000.
c)C is to get a salary R1,500 p.m.
(d) Net proht betore charging any item 60,000.
4

Mr. Halder who applied for 3,000 shares of Haldiram Ltd. of 710 each issued at a premium of R2 each.
Mr. Halder paid Appication money @ 73 and Allotment @ 6 (including premium) but failed to pay
the balance. Company decided to forfeit such shares and then reissue of such shares at 20% discount
Show necessary Journal entries. 4
. Mobile Ltd. issued<30,000, 9% Debentures of 7 100 each. Company pays Debenture Interest half yearly.
Rate of tax is 20%. Show necessary Journal entries. 4
4 The following is the Balance Sheet of A and B who were partners sharing profits and losses in 4:3.
Balance Sheet as on 31/3/22
Liabilities Amount R)| Assets Amount ()|
Capital A/c. Land and Building 50,000
A 60,000 Plant 25,000
B 40,000 1,00,000 Furniture 15,000
Stock 25,000
Reserve 21,000 Debtors 20,000
Creditors 18,000 ( Provision 1,000 19,000
Cash 5,000
1,39,000 1,39,000
They admit C on the Balance Sheet date on the following ternm
(a) Cwill getth share of profits.
(6) Land will increased by 20% and plant to be increased by < 6,000.
(c) Stock to be reduced by 75,000.
(a) Cneeds to introduce 735,000 as Capital and ? 10,000
as share of Goodwill However after Cs admission
newprofit sharing ratio will be 7: 8:5. 6
Pass necessary journal entries.

ABC Ltd. issued 97.000 shares of T 10 each at a premium of 73 per share in the following manner.
(including Premium 1)
On Application 73
Z5 (including premium R2)
On Allotment
On First call 2.50
2.50
On Final Call who paid all the money due
Application money and Mr. Sudip
Sandip who holds 900 shares paid only Calls-in-arrear. Show necessary Journal entries in the
u 8% on
Allotment. Company pays interest 6
books of the
Company. Ci: Calls-in-arrear,
Calls-in-advance. 2+4
ITE J p ? )
 A , Y and Z were partners in a firm sharing profits and losses in 3 2: 1 ratio. There Balance Sheet as
on
31/3/22 as follows-
Balance Sheet as on 31/03/22

Liabilities Amount () | Assets Amount ()

Capital A/cs.. Plant 4,000
Building 40,000
X 36,000
Y- 24,000 Stock 15,000
Z - 20,000 80,000 Debtors 35,000
Creditors 18,000 Cash 16,000
Reserve 12,000
1,10,000 1,10,000
On that date Y retires on the following terms:
(a) Value of Building become T48,000.
(6) Plant need to be depreciated by 10%.
C)Provision for bad debt need to be created @5%.
(d) Goodwill to be valued at,7 18,000.
(e After Y's retirement X and Z share profits and lossess in 1:1 ratio maintaining firm's Capital 7 1,00,000.
Prepare Revaluation A/c, Partner's Capital A/c and Balance Sheet as on 1/4/19. 3+4+3

1 From the following prepare a Common-size Income Statement for the year ended 31/3/19.
Particulars 31/3/21 () 31/3/22 ()
Income
Sales 4,00,000 5,00,000
Others Income 20,000 30,000
4,20,000 5,30,000
Expenses
Cost of Sales 2,50,000 3,20,000
Other operating expenses 30,000 40,000
Interest 20,000 20,000
3,00,000 3,80,000
Profits 1,20,000 1,50,0000
4,20,000 5,30,000
8.Operating activity, Investing activity Financial activity GIRI-7R
3
AR 6
1 , From the following prepare a Cash Flow Statement for the
year ended 31/3/22.
Balance Sheet of XY Ltd. as on 31/3/21 and 31/3/22
Liabilities 31/3/21 ()| 31/3/22 (7)| Assets 31/3/21 ()| 31/3/22 ()|
Share Capital 1,20,000 1,44,000 Goodwill 20,000 16,000
General Reserve 8,000 12,200 Building 96,400
76,000
P/L A/c 7,200 6,200 Investment 4,000 14,000
Creditors 28,400 36,400 Debtors
30,000 43,200
Proposed Dividend 11,200 20,200 Stock 34,000 31,200

Cash in hand 18,200

10,800
1,74,800 2,19,000 1,74,800 2,19,000
 ded loan of 7 50,000 to firm 1x18=18
A partnerprovide a
for 11 months
amount of
Interest ? 13 % interest p.a. What will be the
(a) R6,750
(b) 563 (c) 6,188 (d) Nil
Net assets 10,00,000, Average proht 90,000. If the Normal Rate of Return
is 6%, calculate value of Goodwill.
(a) Nil (b) 1,00,000
(c)66,667 (d) R5,00,000
)3oICFTRA OR Accounting Standard-g ÍBs U?
()
(a) AS-2 (b) AS-26 (c) AS-3
)Interest on Partner's Capital 7 (d) AS-29
(a) R95
(b) (d) 7 a
)Revaluation loss is 10,000, A, B and C share
profits and losses in 3: 2:5 ratio. C's share will be-
(a) equal to As share (6) equal to B's share (c) equal to (A + By's share(d) None of these
(1i) Revaluation Alc-4 CrRITAI V-
(a) Assets appreciation (b) Liabilities appreciation (c) Assets
depreciation (d) All of these
(a) 4TR1 37 (b) 11 73 (c) 131 13(a) (d) 11 53
ivi) ÄTISA TI Premium for
goodwill eA iCE A RMIAT GTH?
(a) CT T7its
(ix) A, B and C share profits and losses in 3:7:5 () sqCE (d) CE
ratio. After B's retirement A and C share
ratio. Calculate Gaining Ratio. profits in 1: 1
(a) 9:5 (b) 5:9
(t) If value of goodwill is 7 1,00,000, 'C (c) 3:5 (d) 5:3
the retiring partner will get how much if A, B and C share
in5:7:3 ratio. profits
(a)x 20,000 (b) T46,667
ti) If Company planned to issue 1,00,000 (c) 33,333 (d)1,00,000
shares sfz 10 each, calculate minimum Application value share.
(a) 2.5 (b)1 ()0.5 per
(d) itaiib T
(a) Baga a1fy b) fCATRA (c) TT (d) **a
(a) IAR
(b)r (c) f1 (d) aCPANet
(a)RI b) aiCa (c) (a) or (b) (d) (a) e (b) B e fdr
(a)131 52 (b) KTAT 78
rvi) Share (c) 311 79 (d) K1s1 53
Application A/cR
(a) s fR
(c) AA (d) etaiiv 7
(a) 10% (b) 25% (c) 100% (d)
a) 10% (b) 25%
(c)
1x6=6

(d) arf fRCAT

(b) R (c)r H (d) *

(b) (d) Prita 7RIPTE

 (d) 3
(c) 4
(a) 2 (b) 516
(c) CPI-fo a (d) (a) a3R (b) ®s
(a) (b) V
(vi) P 1 f T o Forfeited shares' CRNTAI R (b) CFiTAI V
(a) Reserve & Surplus-4 (d) Foot Note-
(c) Issued and Subscribed Capital A1 A
lx8=3

1, Unrecorded liabilities-43 I TiRtfo itRi I

(v) ?

(vi) Prorata Allotment r a , 'Prorata Allotment' EA?

(vii) Security Premium-9 9T TR FTI
(vii) Calls-in-arrear ?
1x4=4
(i) Cash Flow Statement-9 Bank overdraft Putta CFNAI B? qt, 'Cash Flow Statement P ?

1 , Provision for Tax A TAEItE o TRstICA ttAi RA?