No.

of pages - 19 (E)
MARKING SCHEME
MID-TERM EXAMINATION (2024-25)
CLASS : XII
SUBJECT : ACCOUNTANCY (055)
Time Allowed : 3 hours Maximum Marks : 80
le; % 3 ?kaVs vf/dre vad %80

1. (c) Partner’s Loan Account 1

2. (a) Debit side of Realisation A/c 1

OR
(a) Nominal Account

3. (d) 4:6:5 1

OR
(a) 1:1

4. (d) ` 10,000 1

5. (b) ` 1,75000 1

OR
(a) 1:1

6. (c) Assertion (A) is correct, but Reason (R) is incorrect. 1

7. (b) 5.5 months 1

OR

(d) No interest allowed

1 XII-ACCOUNTANCY-E
8. (b) ` 25,000 1

9. (a) Subscribed Capital 1

OR

(d) No limit

10. (a) Both Assertion (A) and Reason (R) are correct and (R) is the correct

explanation of (A). 1

11. (a) ` 90,000 1

12. (d) ` 1,600 1

13. (b) Profit and Loss Account 1

14. (d) ` 900 1

OR

(d) Distribution of dividend

15. (c) ` 10,000 1

16. (a) ` 2,40,000; ` 3,60,000; ` 3,00,000 1

OR

(a) Debited to Revaluation A/c

17. (b) ` 30,000 1

18. (c) Amount received from sale of Assets 1

2 XII-ACCOUNTANCY-E
19. (c) ` 75,000 1

20. (c) Credit side of Revaluation A/c by ` 4,000. 1

21.

Profit and Loss Appropriation A/c for the year ended 31st March, 2021

Dr. Cr.

Particulars ` Particulars `

To Naveen Capital A/c 2,50,000 By Profit & Loss A/c 5,00,000

Less: Deficiency 31,250 2,18,750

To Kailash Capital A/c 1,50,000

Less: Deficiency 18,750 1,31,250

To Manu Capital A/c 1,00,000

Add: Recovery

(31250+18750) 50,000
1,50,000

5,00,000 5,00,000

3 XII-ACCOUNTANCY-E
 OR

Profit and Loss Appropriation A/c for the year ended 31st March, 2024

Dr. Cr.

Particulars ` Particulars `

To Interest on capital By Profit & Loss A/c 20,000

Janki 12,000

Prabha 8,000 20,000

20,000 20,000

Interest on capital 15,000 : 10,000

3 : 2

3
Janki share  20,000 12,000
5

2
Prabha share =  20,000 8,000
5

4 XII-ACCOUNTANCY-E
 JOURNAL

Date Particulars LF Dr. (`) Cr. (`)

(a) Assets Dr. 25,00,000

Goodwill A/c (B/f) Dr. 12,00,000

To Liabilities 7,00,000

To Rahul Co. Ltd. 30,00,000

(b) Rahul Ltd. Dr. 30,00,000

To Share Capital A/c 25,00,000

To Securities Premium A/c 5,00,000

1½+1½

23. Profit and Suspense a/c Dr. 15,000

To Sita’s capital A/c 15,000 1

60,000
Profit %  100 25% 1
2, 40,000

25 2
Sita share of profit =  1,50,000  ` 15,000 1
100 5

5 XII-ACCOUNTANCY-E
24.
JOURNAL

Date Particulars LF Dr. (`) Cr. (`)

(a) Revaluation A/c Dr. 10,000

To Building A/c 10,000

(b) Revaluation A/c Dr. 32,000

To Furniture A/c 32,000

(c) Land A/c Dr. 5,00,000

To Revaluation A/c 5,00,000

1+1+1

50,000  60,000 1,30,000

25. Average Profit =  ` 80,000 2
3

Goodwill = 80,000 × 2 = ` 1,60,000 1

OR

8
Normal Profit =  20,00,000 ` 1,60,000 1
100

Super profit = 2,00,000 – 1,60,000 = ` 40,000 1

Goodwill = 40,000 × 3 = ` 1,20,000 1

6 XII-ACCOUNTANCY-E
26. `

General reserve 5,00,000

Contingency reserve 3,00,000

Profit and Loss 4,00,000

Advertisement suspense A/c (3,00,000)

9,00,000 1

Gaining ratio :

1 4 3 8  5
Shiv =    1
6 9 18 18

2 3
Naresh    0
6 9

3 2 9 4 5
Narender =   
6 9 18 18

Narender’s capital A/c Dr. 2,50,000 1

To Shiv Capital A/c 2,50,000

7 XII-ACCOUNTANCY-E
27.
Balance Sheet (Extract)
Particulars Note No. `

I. EQUITY AND LIABILITIES

(1) Shareholder’s funds

(a) Share capital 1 5,85,000

1
Notes to Accounts:
Particulars Details `

1. Share Capital

Authorised Capital

1,00,000 equity share of ` 10 each 10,00,000

Issued capital

90,000 equity shares of ` 10 each 9,00,000

Subscribed capital

Subscribed but not fully paid up

80,000 equity shares of ` 7 each 5,60,000

Add: Share forfeited A/c (5,000×5) 25,000

5,85,000

1+1+1

8 XII-ACCOUNTANCY-E
 OR

Reserve Capital Capital Reserve

(a) It is the part of uncalled capital which It is that part of reserve which is not free

is called in the event of winding up for distribution as dividend.

It is a reserve set aside out of capital

profits.

1+1

Over-subscription shares Under subscription of shares

(b) Number of shares applied more than Number of shares applied less than shares

the shares offered for subscription. offered for subscription. As all the

Excess application adjusted towards application are accepted, there is no

allotment and calls. excess money to be refunded.

1+1

(or any other)

9 XII-ACCOUNTANCY-E
28.
JOURNAL
Date Particulars LF Dr. (`) Cr. (`)

(a) Bank A/c Dr. 9,80,000

To Realisation A/c 9,80,000

(b) Realisation A/c Dr. 57,000

To Bank A/c 57,000

(c) Realisation A/c Dr. 15,000

To Bank A/c 15,000

(d) Dvij Capital A/c Dr. 20,000

To Realisation A/c 20,000

1x4=4

29. Adjustment Table

Particulars Sharmila Usha Nisha Firm

Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.

Commission -- 18,000 -- -- -- 18,000 36,000 --

Salary to Usha -- -- -- 12,000 -- -- 12,000 --

Loss to be debited 24,000 -- 18,000 -- 6,000 -- -- 48,000

24,000 18,000 18,000 12,000 6,000 18,000 48,000 48,000

6,000 6,000 12,000

(Dr.) (Dr.) (Cr.)

10 XII-ACCOUNTANCY-E
 Sharmila Capital A/c Dr. 6,000

Usha Capital A/c Dr. 6000

To Nisha Capital A/c 12,000 1

30.
Vinay Capital A/c
Dr. Cr.
Particulars ` Particulars `

To Drawing 9,000 By Balance b/d 1,20,000

To Interest on drawing 113 By Profit & Loss Suspense A/c 8,000

To Advertisement Suspense A/c 12,000 By Lalu Capital A/c 26,667

To Legal Representative A/c 1,99,687 By Vijay Capital A/c 13,333

By General Reserve 32,000

By Interest on capital A/c 4,800

By Profit & Loss A/c 16,000

2,20,800 2,20,800

11 XII-ACCOUNTANCY-E
31.
Profit & Loss Appropriation A/c for the year ended 31st March, 2024
Dr. Cr.
Particulars ` Particulars `

To Interest on capital By Profit and Loss A/c 6,00,000

Mili 20,000

Maharaj 12,500 32,500

To Mili salary 1,20,000

To Maharaj commission 30,000

To General Reserve 60,000

To Profit :

Mili 1,78,750

Maharaj 1,78,750 3,57,500

6,00,000 6,00,000

3+3

12 XII-ACCOUNTANCY-E
 Partner’s Capital A/c
Dr. Cr.
Particulars Mili Maharaj Particulars Mili Maharaj

By Balance b/d 4,00,000 2,50,000

By Interest on capital 20,000 12,500

By Salary 1,20,000 --

By Commission -- 30,000

By Profit & Loss a/c 1,78,750 1,78,750

To Balance c/d 7,18,750 4,71,250

7,18,750 4,71,250 7,18,750 4,71,250

3
32.
JOURNAL
Date Particulars LF Dr. (`) Cr. (`)

(i) Share Capital A/c Dr. 80,000

To Share Final Call A/c 32,000

To Share Forfeiture A/c 48,000

(ii) Bank A/c Dr. 64,000

Share Forfeiture A/c 16,000

To Share Capital A/c 80,000

(iii) Share Forfeiture A/c Dr. 32,000

To Capital Reserve A/c 32,000

13 XII-ACCOUNTANCY-E
 Dr. Share Furniture A/c Cr.
Particulars ` Particulars `

To Share Capital A/c 16,000 By Share Capital A/c 48,000

To Capital Reserve A/c 32,000

48,000 48,000

3
33.
JOURNAL
Date Particulars LF Dr. (`) Cr. (`)

(a) Revaluation A/c Dr. 52,000

To Provision for doubtful debt 2,000

To Outstanding bill for repairs 50,000

(b) Accrued Interest A/c Dr. 7,500

Stock A/c Dr. 8,000

To Revaluation A/c 15,500

(c) Rajinder’s Current A/c Dr. 21,900

Vijay Current A/c Dr. 14,600

To Revaluation A/c 36,500

(d) Bank A/c Dr. 40,000

To Investment A/c 40,000

14 XII-ACCOUNTANCY-E
(e) Rajinder Current A/c Dr. 42,000

To Stock A/c 42,000

(f) General Reserve A/c Dr. 60,000

To Rajinder Current A/c 36,000

To Vijay Current A/c 24,000

(g) Rajinder Current A/c Dr. 30,000

Vijay Current A/c Dr. 20,000

To Goodwill A/c 50,000

(h) Bank A/c Dr. 1,60,000

To Ram Vijay Capital A/c 1,00,000

To Premium for goodwill A/c 60,000

(i) Premium for Goodwill A/c Dr. 60,000

To Rajinder’s Current A/c 30,000

To Vijay Current A/c 30,000

½+½+1+½+½+½+½+1+1

15 XII-ACCOUNTANCY-E
 OR
Dr. Revaluation A/c Cr.
Particulars ` Particulars `

To Stock 1,500 By PDD A/c 1,000

To Provision for 11 bill for legal 1,800 By Land & Building A/c 25,800

charges

To Gain on revaluation 23,500

26,800 26,800

2
Partner’s Capital A/c
Dr. Cr.
Particulars Arun Barun Charan Particulars Arun Barun Charan

To Barun’s 2,160 -- -- By Balance b/d 2,00,000 1,00,000 50,000

Capital A/c

To Barun’s -- 1,10,860 -- By Revaluation 9,400 4,700 9,400

Loan A/c A/c

To Bank A/c 47,240 -- -- By Arun’s -- 2,160 --

Capital A/c

To Balance c/d 1,68,000 -- 1,12,000 By IFR A/c 8,000 4,000 8,000

By Bank A/c -- -- 44,600

2,17,400 1,10,860 1,12,000 2,17,400 1,10,860 1,12,000

16 XII-ACCOUNTANCY-E
34.(i)
JOURNAL
Date Particulars LF Dr. (`) Cr. (`)

(a) Share Capital A/c Dr. 10,000

To Second & Final Call A/c 3,000

To Share Forfeited A/c 7,000

(b) Bank A/c Dr. 6,400

Share Forfeited A/c Dr. 1,600

To Share Capital A/c 8,000

(c) Share Forfeited A/c Dr. 4,000

To Capital Reserve A/c 4,000

1+1+1
(ii)
JOURNAL
Date Particulars LF Dr. (`) Cr. (`)

(a) Share Capital A/c Dr. 3,600

To Share First Call A/c 1,200

To Share Forfeited A/c 2,400

(b) Bank A/c Dr. 6,600

To Share Capital A/c 6,000

To Securities Premium A/c 600

(c) Share Forfeited A/c Dr. 2,400

To Capital Reserve A/c 2,400

1+1+1

17 XII-ACCOUNTANCY-E
 OR

JOURNAL

Date Particulars LF Dr. (`) Cr. (`)

(i) Bank A/c Dr. 2,40,000

To Share Application A/c 2,40,000

(ii) Share Application A/c Dr. 2,40,000

To Share Capital A/c 1,60,000

To Share Allotment A/c 50,000

To Bank A/c 30,000

(iii) Share Allotment D/c Dr. 2,40,000

To Share Capital A/c 2,40,000

(iv) Bank A/c Dr. 1,84,800

Calls-in-Arrear Dr. 5,200

To Share Allotment A/c 1,90,000

(v) Equity Share Capital A/c Dr. 10,000

To Calls-in-Arrear 5,200

To Share Forfeited A/c 4,800

18 XII-ACCOUNTANCY-E
(vi) Share First Call A/c Dr. 1,56,000

To Share Capital A/c 1,56,000

(vii) Bank A/c Dr. 1,55,000

Calls-in-Arrears A/c Dr. 1,000

To Share First Call A/c 1,56,000

(viii) Bank A/c Dr. 9,000

To Share Capital A/c 7,000

To Securities Premium A/c 2,000

(ix) Share Forfeited A/c Dr. 2,400

To Capital Reserve A/c 2,400

½+1+½+1+½+½+½+½+1

19 XII-ACCOUNTANCY-E