topper sample paper 3 - wordpress.com · q 11. on 31.03.03 g ltd. had rs.8,00,000 9% debentures due...

222 223Accounts–XII TOPPER Sample Papers222 223Accounts–XII TOPPER Sample Papers

TOPPER SAMPLE PAPER 3

ACCOUNTANCY XII

Time Allowed - 3 Hrs. Max. Marks - 80

General Instructions:-1. This question paper contains two parts A & B only.2. All parts of questions should be attempted at one place.3. There is internal choice in some questions.

Part – A

Q 1. State the nature of Receipts & Payment A/c. (1)

Q 2. Outgoing partner is compensated for parting with firms future profits by the remaining partners. In what ratio do the remaining partners contribute to such compensation amount? (1)

Q 3. List any two items that may appear on the credit side of a partner’s fluctuating capital account. (1)

Q 4. Mention any one difference between premium on issue of debentures and premium on redemption of debentures. (1)

Q 5. Calculate interest on drawings of X @ 10% p.a. for the year ended 31.12.08 if he withdrew Rs.6,000 in the beginning of each quarter. (1)

Q 6. How will you deal with the following items while preparing the final accounts of not for profit organisation for the year ending 31.03.08

Tournament Fund on 1.04.07 Rs.4,800

9% Tournament Fund Investment Rs.4,800

Donation received for tournament during the year Rs.15,000

Expenses incurred during the year on conducting Tournament Rs.18,000 (3)

Q 7. Y Ltd. forfeited 700 shares of Rs.100 each, issued at a premium of Rs.5 per share for the non payment of allotment of Rs.35 per share and first call of Rs.20 per share. The second & final call of Rs.20 has not yet been called. 500 of these shares were reissued as Rs.80 paid up for Rs.92 per share. (3)

Q 8. S Ltd. took over assets of Rs.8,50,000 and liabilities of Rs.1,50,000 of C Ltd. at an agreed price of Rs.7,20,000. The purchase consideration was discharged by issuing 12% Debentures of Rs.100 each at a premium of 20%. Journalise. (3)

Q 9. P & Q were partners in a firm sharing profits in the ratio of 7:3. Their fixed capital were P- Rs.5,00,000 and Q – Rs.8,00,000. For the year ended 2007, interest on capital was credited @ 12% instead of 10%. Show the necessary adjusting entry with workings. (3)

Q 10. Following is the Balance Sheet of A & B who were sharing profits & losses as 3:2.

Liabilities Amount(Rs.)

Assets Amount(Rs.)

Sundry Creditors 20,000 Cash 30,000

Reserves 30,000 Stock 1,00,000

A’s capital 90,000 Debtors 50,000


B’s capital 60,000 Furniture 20,000

2,00,000 2,00,000

B died on 1.05.02. His heirs would be entitled to :

(a) Capital to his credits at the date of last Balance Sheet

(b) His share of reserve.

(c) His share of profit to the date of death based on the average profit of the last 3 year.

(d) By way of goodwill his share of total profits for the preceding three years.

Profits were- 1999 – Rs.41,800; 2000 – Rs.39,200; 2001 – Rs.45,000

Prepare B’s capital A/c. (4)

Q 11. On 31.03.03 G Ltd. had Rs.8,00,000 9% debentures due for redemption. The company had a balance of Rs.3,40,000 in its Debenture Redemption Reserve Account. Pass necessary journal entries for redemption of debentures. (4)

Q 12. (a) M Ltd. invited application for issue of 2,00,000, 9% debentures of Rs.100 each at par on 25.01.09, redeemable at 5% premium after 3 years. The amount was payable on application and the debentures were issued on 25.01.09. Pass journal entries for the issue of debentures.

(b) Rs.95,000, 14% debentures of Rs.100 each issued at par and redeemable at 10% premium were converted into equity shares of Rs.10 each issued at premium of 25%. Journalise. (2+2)

Q 13. A, B & C were partners in a firm sharing profits in 3:2:1. On 31.03.01, B retired and the balance in his capital account was Rs.34,000. The other assets & liabilities were as follows:

Cash Rs.10,000; Building Rs.1,00,000; Plant Rs.40,000; Stock Rs.20,000 ; Debtors Rs.20,000; Investment Rs.30,000. The following was agreed between the partners on B’s retirement:

(i) Building to be appreciated by 20%.

(ii) Plant & Machinery to be depreciated by 10%

(iii) A provision of 5% on debtors to be created for doubtful debts.

(iv) Stock was to be valued at Rs.18,000 and investment at Rs.35,000.

(v) A old photo copier previously written off was sold for Rs.2,000.

(vi) Partners had to pay Rs.5,000 to the family of an employee who died in an accident.

(vii) B was paid Rs.7,500 in cash and the balance in three equal yearly installment with interest @ 10% p.a.

Prepare Revaluation A/c , B’s capital A/c and B’s loan A/c till it is finally paid. The books are closed on 31 st March every year. (6)

Q 14. Prepare an Income & Expenditure Account from the following particulars for the year ended 31.03.08 (6)

Receipts & Payment Account

Receipts Amount(Rs.)

Payments Amount(Rs.)

Balance b/d 18,000 Salaries 1,20,000

Subscription Printing 9,820

2006-2007 8,100 Electricity & water 2,000


2007-2008 2,10,000 Sundry Expenses 4,190

2008-2009 2,500 2,20,600 Entertainment material(including Rs.2,000 for 06-07)

58,200

Donation for Buildings 42,000 Office Expenses 7,820

Miscellaneous receipts 17,190 Mobile phone bills 2,600

Sale of Old Furniture( book value Rs.4,000)

6,000 10% Investments(face value Rs.12,500, Purchased on 1.10.07)

10,000

Legacies 7,200 Advance for construction ofBuilding

15,000

Receipts from charity show 55,000 Internal Charges 1,200

Balance c/d 1,35,160

3,65,990 3,65,990

Balance Sheet as at 31.03.07


Assets Amount(Rs.)

Creditors for entertainmentmaterial

5,000 Cash 18,000

Subscription received in advance

2,100 Outstanding Subscription 16,000

Building Fund 50,000 10% Investments(face value Rs.1,50,000)

1,10,000

Capital Fund 2,52,100 Mobile phones 17,000

Musical Instrument 12,200

Computers & printers 56,000

Furniture 80,000

3,09,200 3,09,200

(6)

Q 15. R Ltd. invited applications for issuing 2,00,000 equity shares of Rs.10 each at a discount of Re.1 payable:

On application Rs.2 per share, On allotment Rs.3 per share, on first & final call Rs.4 per share.

Application were received for 3,00,000 shares and pro-rata allotment was made to all applicants as follows:

Applicants for 1,60,000 shares were allotted 1,20,000 shares.

Applicants for 1,40,000 shares were allotted 80,000 shares.

Ekta to whom 1,200 shares were allotted out of the group applying for 1,60,000 shares, failed to pay the allotment money. Her shares were forfeited immediately after allotment. Manisha who had applied for 2,800 shares out of the group applying for 1,40,000 shares failed to pay the first & final call. Her shares were also forfeited. All the forfeited shares were reissued @ Rs.8 per share, as fully paid up. Journalise.

OR


S Ltd. invited applications for issuing 2,00,000 equity shares of RS.100 each at a premium of Rs.10 per share. The amount was payable as follows:

On application Rs.40 per share( including premium), On allotment Rs.30 per share, on first & final call balance.

Application were received for 3,00,000 shares. Applications for 40,000 shares were rejected and pro-rata allotment was made to remaining applicants.

Manoj who was allotted 2,000 shares failed to pay the allotment and first call money. His shares were forfeited. The forfeited shares were reissued at Rs.90 per share fully paid up. Journalise. (8)

Q 16. A, B and C are partners sharing profits & losses in the ratio of 2:2:1.

Balance Sheet as on 31.03.09


Assets Amount(Rs.)

Bills Payable 40,000 Cash 10,000

Sundry Creditors 1,50,000 Stock 40,00

Outstanding Expenses 10,000 Debtors 51,000Less: P/D/D 1,000

50,000

A’s capital 2,00,000 Plant & Machinery 2,00,000

B’s capital 2,00,000 Land & Buildings 4,00,000

C’s capital 1,00,000

7,00,000 7,00,000

The firm was dissolved on 31.03.09 on the following terms

(i) Stock was taken over by one of the creditors at a discount of 10%.

(ii) The remaining creditors were paid at a discount of 5%.

(iii) Debtors realized Rs.49,000: Plant & Machinery Rs.1,00,000 and Land & Buildings Rs.3,00,000.

(iv) Bills payable were discharged at a discount of 2% and the outstanding expenses were paid in full.

(v) Realisation expenses of Rs.5,000 were paid by B.

(vi) The firm had a JLP which was surrendered for RS.50,000.

Prepare Realisation A/c, partners’ capital A/c and Cash A/c.

OR

P and Q are partners in a firm sharing profits & losses in the ratio of 3:1. Their Balance Sheet as on 31.03.09 was as follows:


Assets Amount(Rs.)

Sundry Creditors 75,000 Cash 5,000


Reserves 8,000 Bank 40,000

P’s capital 60,000 Stock 40,000

Q’s capital 32,000 Debtors 32,000

Furniture 2,000

Buildings 50,000

Profit & Loss A/c 6,000

1,75,000 1,75,000

They admit R as a partner for 1/5th share in profits on the following terms:

(i) Goodwill of the firm valued at Rs.40,000 and R brings his share og goodwill in cash.

(ii) The value of stock and Furniture be reduced by 10%.

(iii) A provision for Doubtful debts be created @ 5% on debtors.

(iv) Building be appreciated by 20%.

(v) The total capital of the new firm was fixed at Rs.2,50,000, which will be shared by the partners in their new profit sharing ratio.

Prepare Revaluation A/c, Partners’ capital A/c and Balance Sheet of the new firm. (8)

PART – B

Q 17. What is the impact of a purchase of a fixed assets on a current ratio? (1)

Q 18. Dividend received by a financing company will be classified under which activity? (1)

Q 19. Explain the term Cash Equivalent. (1)

Q 20. List any three items that can be shown under the heading ‘Reserves & Surplus’ in a company’s Balance Sheet. (3)

Q 21. With the help of following information prepare a comparative income statement:

Particulars 2007(Rs.) 2008(Rs.)

Sales 50,000 80,000

Cost of goods sold 60% of sales 70% of sales

Indirect expenses 10% of G.P 10% of G.P

Rate of income tax 50% of N.P 50% of N.P

(4)

Q 22. Calculate the following ratio from the details given below:

(i) Current Ratio

(ii) Liquid Ratio

(iii) Operating Ratio

(iv) Gross Profit Ratio

Details: Current assets Rs.70,000; Sales Rs.1,40,000; Cost of goods sold Rs.68,000; Net working capital Rs.30,000; Inventories Rs.30,000 (4)


Q 23. Prepare a Cash Flow Statement from the given Balance Sheets:

Liabilities 2007 2008 Assets 2007 2008

Share capitalReservesProfit & Loss A/cBank LoanCreditorsBills PayableProv. For Tax

4,00,0001,00,000 61,0001,40,0002,80,000 20,000 60,000

5,00,0001,20,000 61,200 ---2,60,000 10,400 70,000

MachineryDebtorsBusiness PremisesStock Cash

3,00,0002,00,0004,00,0001,60,000 1,000

3,38,0001,48,0003,80,0001,28,400 27,200

10,61,000 10,21,600 10,61,000 10,21,600

Additional information:

1. Dividend paid during the year Rs.46,000.

2. Depreciation on Machinery Rs.28,000.

3. Provision for tax was made Rs.66,000. (6)

1. Real accounts (1)

2. Gaining Ratio (1)

3. (i) Interest on partners’ capital

(ii) Partners’ share of profit (1/2 x 2)

4. Premium on issue of debentures is a capital profit whereas premium on redemption of debentures is a capital loss. (1)

5. Interest on X’s drawings = (6,000 x 4) x 10/100 x 7.5/12

= Rs.1,500 (1)

6. Balance Sheet

Liabilities Rs. Assets Rs.

Tournament fund 4,800 Add: Donation received for Tournament fund 15,000 Add: Accrued Interest 432Less: Expenses (18,000)

2,232

Tournament fund InvestmentAccrued interest on Tournament fund investment

4,800432

(1/2 x 6 = 3)

7. Journal Entries

Date Particulars L.F. Rs.(Dr.) Rs.(Cr.)

Share Capital A/c Dr.Securities premium A/c Dr. To Share Forfeited A/c To Calls in Arrears A/c (being 700 shares forfeited)

56,0003,500

21,00038,500


Bank A/c Dr. To Share Capital A/c To Securities premium A/c (being 500 shares reissued)

46,00040,0006,000

Share Forfeited A/c Dr. To Capital Reserve A/c (being balance of shares forfeited A/c transferred to capital reserve A/c )

15,00015,000

(1x3=3)

8. Journal Entries


Assets A/c Dr.Goodwill A/c Dr. To Liabilities A/c To C Ltd. (Being S ltd. took over the assets & liabilities of C ltd.)

8,50,00020,000

1,50,0007,20,000

C Ltd. Dr. To 12% Debentures A/c To Securities Premium A/c(Being 600 debentures issued to C Ltd. at premium)

7,00,0006,00,0001,20,000

(2+1)

9. Adjustment Table

P Q Total

Amt. already credited(2%)Amt to be credited (7:3)

10,00018,200

16,000 7,800

26,00026,000

Difference 8,200 8,200 ---

Journal Entry

Particulars L.F Dr. (Rs.) Cr. (Rs.)

Q’s Current A/c Dr. To P’s Current A/c

8,2008,200

(2+1)

10. B’s Capital A/c

Particulars Rs. Particulars Rs.

To B’s executor A/c 1,28,000 By balance b/dBy A’s capital A/cBy Reserves By P & L Suspense A/c

60,00050,40012,0005,600

1,28,000 1,28,000

(1x4 = 4)

11. Journal Entries



Profit & Loss Appropriation A/c Dr. To Debenture Redemption Reserve A/c(being Debenture Redemption Reserve created)

60,00060,000

9% Debentures A/c Dr. To Debentures holders A/c(Being debentures redeemed)

8,00,0008,00,000

Debentures holders A/c Dr. To Bank A/c(Being Debentures holders paid)

8,00,0008,00,000

Debenture Redemption Reserve A/c To general reserve(Being D.R.R. transferred to general reserve)

4,00,0004,00,000

(1x4=4)

12. (a)


Bank A/c Dr. To Debenture application & allotment A/c(Being Debenture application money received)

2,00,00,0002,00,00,000

Debenture application & allotment A/c Dr.Loss on issue of debenture A/c Dr. To 9% Debentures A/c To Premium on Redemption A/c(Being application money transferred to Debenture A/c.)

2,00,00,00010,00,000

2,00,00,00010,00,000

(b)

Date Particulars L.F. Rs.(Dr.) Rs.(Dr.)

14% Debentures A/c Dr.Premium on redemption A/c Dr.To Debentures holders A/c (Being amt. due to Debentures holders on conversion)

95,0009,500

1,04,500

Debentures holders A/c Dr. To Equity share capital A/c To Securities premium A/c (Being issue of 8,360 equity shares at a premium of 25%)

1,04,50083,60020,900

(1 x 4 = 4)

13. Revaluation A/c


To Plant & MachineryTo Provision for doubtful debtsTo StockTo Liability for compensation To profit (b/fig)

4,0001,0002,0005,000

15,000

By BuildingsBy InvestmentsBy Photo Copier

20,0005,0002,000

27,000 27,000


B’s Capital A/c

Particulars C Particulars A

To CashTo B’s loan A/c

7,50031,500

By balance b/dBy Revaluation profit

34,000 5,000

39,000 39,000

B’s Loan A/c

Date Particulars Amt. Date Particulars Amt.

31.03.02

31.03.03

31.03.04

To bank A/cTo Balance c/d

To bank A/cTo Balance c/d

To bank A/c

13,65021,00034,650

12,60010,50023,10011,550

11,550

1.04.0131.03.02

1.04.0231.03.03

1.04.0331.03.04

By B’s capitalBy interest

By Balance b/dBy Interest

By Balance b/dBy Interest

31,5003,150

34,65021,0002,100

23,100

10,5001,050

11,550

(2+1+3)

14. Income & Expenditure A/c

For the year ending 31.03.08


To PrintingTo salariesTo Electricity & water To Sundry expensesTo Entertainment material To Office expensesTo Mobile phone billsTo Internal chargesTo Surplus

9,8201,20,000

2,0004,190

56,2007,8202,6001,200

98,085

By Subscription 2,10,000Add: Advance subs. 2,100By Miscellaneous receiptsBy profit on sale of furnitureBy Receipts from charity showBy interest on invest. 15,000Add: Accrued interest 625

2,12,100

17,1902,000

55,000

15,625

3,01,915 3,01,915

(1/2 x 12 = 6)

15. Journal Entries

Date Particulars L.F. Rs.(Dr.) Rs.(Cr.) marks

Bank A/c Dr. To Share application A/c(Being share application money received on 3,00,000 shares)

6,00,0006,00,000

½

Share Application A/c Dr. To Share Capital To Share Allotment(Being application money transferred)

6,00,0004,00,0002,00,000

½


Share Allotment A/c Dr.Discount on shares A/c Dr. To share capital A/c (Being allotment due on 2,00,000 shares )

6,00,0002,00,000

8,00,000

½

Bank A/c Dr.Calls in arrears A/c Dr. To share allotment A/c (Being allotment money received)

3,97,2002,800

4,00,000

1

Share capital A/c Dr. To Share forfeiture A/c To Calls in arrears A/c To Discount on shares A/c (Being shares forfeited)

7,2003,2001,2002,800

1

Share First & final call A/c Dr. To share capital A/c (Being share first call due)

7,95,2007,95,200

½

Bank A/c Dr.Calls in arrears A/c Dr. To share first & final call (Being call money received )

7,88,8006,400

7,95,200

1

Share capital A/c Dr. To Share forfeiture A/c To Calls in arrears A/c To Discount on shares A/c (Being shares forfeited)

16,0008,0001,6006,400

1

Bank A/c Dr.Discount on shares A/c Dr.Share forfeited A/c Dr. To Share capital A/c(Being shares reissued)

22,4002,8002,800

28,000

1

Share forfeited A/c Dr. To Capital Reserve A/c( Being share forfeited A/c transferred to capital reserve A/c)

5,2005,200

1

OR

Journal Entries


Bank A/c Dr. To Share application A/c(Being share application money received on 3,00,000 shares)

1,20,00,0001,20,00,000

½

Share Application A/c Dr. To Share Capital To Securities premium A/c To Share Allotment To Bank(Being application money transferred)

1,20,00,00060,00,00020,00,00024,00,00016,00,000

1


Share Allotment A/c Dr. To share capital A/c (Being allotment due on 2,00,000 shares )

60,00,00060,00,000

½

Bank A/c Dr.Calls in arrears A/c Dr. To share allotment A/c (Being allotment money received)

35,64,00036,000

36,00,000

1

Share First & final call A/c Dr. To share capital A/c (Being share first call due)

80,00,00080,00,000

1

Bank A/c Dr.Calls in arrears A/c Dr. To share first & final call (Being call money received )

79,20,00080,000

80,00,000

1

Share capital A/c Dr. To Share forfeiture A/c To Calls in arrears A/c(Being shares forfeited)

2,00,00084,000

1,16,000

1

Bank A/c Dr.Share forfeiture A/c Dr. To Share capital A/c(Being shares reissued)

1,80,00020,000

2,00,000

1

Share forfeited A/c Dr. To Capital Reserve A/c( Being share forfeited A/c transferred to capital reserve A/c)

64,00064,000

1

Working notes:

Manoj applied for = 2,60,000/2,00,000 x 2,000 = 2,600

Unpaid allotment by Manoj = (2,000 x 30) – 600 x 40 = 36,000

Unpaid first call = 2,000 x 40 = Rs.80,000

16. Realisation A/c


To debtorsTo stock To Plant & machineryTo Land & BuildingTo Cash Creditors 1,08,300 O/S Expenses 10,000 Bills payable 39,200 To B’s Capital (realization exp.)

40,00051,000

2,00,0004,00,000

1,57,500

5,000

By provision for bad debtsBy creditorsBy Bills payableBy O/s Expenses By Cash Debtors 49,000Plant & Mach. 1,00,000Land & Building 3,00,000JLP 50,000By Loss- A – 61,400 B – 61,400 C – 30,700

1,0001,50,000

40,00010,000

4,99,000

1,53,500

7,00,000 7,00,000


Partners’ Capital A/c

Particulars A B C Particulars A B C

To realization lossTo cash

61,400

1,38,600

61,400

1,43,600

30,700

69,300

By balance b/dBy realization

2,00,000 2,00,000 5,000

1,00,000

2,00,000 2,05,000 1,00,000 2,00,000 2,05,000 1,00,000

Cash A/c


To balance b/dTo realization

10,0004,99,000

By A’s capitalBy B’s capitalBy C’s capitalBy realization

1,57,5001,38,6001,43,600

69,300

5,09,000 5,09,000

(8)

OR

Revaluation A/c


To StockTo Provision for doubtful debtsTo Furniture To profit transferred toP- 3,150Q - 1050

4,000 1,600 200

4,200

By Buildings 10,000

10,000 10,000

Partners’ Capital A/c

Particulars P Q R Particulars P Q R

To profit & lossTo balance c/d

4,5001,50,000

1,50050,000 50,000

By balance b/dBy cash A/c By premium A/c By revaluation ProfitBy ReservesBy Cash

60,000 --- 6,000 3,150

6,00079,350

32,000 ---- 2,000 1,050

2,00014,450

---50,000 ---- ---

---

1,54,500 51,500 50,000 1,54,500 51,500 50,000

Cash A/c


To balance b/dTo R’s capitalTo PremiumTo P’s capitalTo Q’s capital

5,00050,0008,000

79,35014,450

By Balance c/d 1,56,800

1,56,800 1,56,800


Balance Sheet

As on 1st April 2008

Liabilities Rs. Assets Rs.

CreditorsP’s capital Q’s capital R’s capital

75,0001,50,000

50,00050,000

CashBankDebtors 32,000Less: Provision for doubtful debts 1,600Stock FurnitureBuilding

1,56,80040,000

30,40036,0001,800

50,000

3,25,000 3,25,000

(8) PART – B

17. Current ratio will decline (1)

18. Operating Activity (1)

19. These are short term highly liquid investments that are readily convertible into known amount of cash. (1)

20. (i) Capital Reserves

(ii) Securities premium

(iii) Capital redemption reserve (1 x 3 = 3)

21. Comparative Income Statement

Particulars 2007(Rs.) 2008(Rs.) Absolute change Percentage

SalesLess: Cost of goods sold

50,00030,000

80,00056,000

30,00026,000

6086.67

Gross profitLess: Indirect expenses

20,0002,000

24,0002,400

4,000400

2020

Net profit before taxLess: Tax payable

18,0009,000

21,60010,800

3,6001,800

2020

Net profit after tax 9,000 10,800 1,800 20

(1 x 4 = 4)

22. (i) Current Ratio = Current assets/Current liabilities

Current liabilities = Current assets – Net working capital = 70,000 – 30,000 = 40,000

Current ratio = 70,000 / 40,000 = 1.75:1

(ii) Liquid Ratio = Liquid assets/Current liabilities

Liquid assets = Current assets – Inventories

= 70,000 – 30,000 = 40,000

Liquid ratio = 40,000 / 40,000 = 1:1

(iii) Operating Ratio = Cost of goods sold + Operating expenses / Sales x 100

= 68,000 / 1,40,000 x 100 = 48.57%

(iv) Gross profit ratio = Gross profit / Net sales x 100


Gross profit = Sales – cost of goods sold

= 1,40,000 – 68,000 = 72,000

Gross profit ratio = 72,000 / 1,40,000 x 100 = 51.43% (1 x 4 = 4)

23.

Calculation of Profit before tax

Profit earned during the year = Rs.200

Add: Transfer to reserve = Rs.20,000

Add: dividend paid = Rs.46,000

Add: Tax made = Rs.66,000

= Rs.1,32,200

Cash Flow Statement

Particulars Amount(Rs.) Amount(Rs.)

(A) Cash flow from Operating ActivitiesNet profit before taxAdd: Non operating expenses Depreciation 48,000Add: Decrease in stockAdd: Decrease in debtorsLess: Decrease in creditorsLess: Decrease in Bills payableOperating profit before taxLess: tax paidCash flow from Operating Activities

48,00031,60052,000

(20,000)(9,600)

1,32,200

1,02,0002,34,200

56,0001,78,200

(B) Cash Flow from Investing ActivitiesPurchase of MachineryCash used in Investing Activities

(66,000)(66,000)

(C) Cash flow from Financing Activities Issue of share capital Bank loan repaidDividend paidCash used in Financing Activities

1,00,000(1,40,000)

(46,000)(86,000)

Net increase in cash ( A+B+C)Add: Opening balance of cash & equivalentsClosing balance of cash & equivalents

26,2001,000

27,200

Provision for taxation A/c


To cash A/cTo Balance c/d

56,00070,000

By Balance b/dBy P & L A/c

60,00066,000

1,26,000 1,26,000

Machinery A/c


To Balance b/dTo Bank (pur.)

3,00,00066,000

By DepreciationBy balance c/d

28,0003,38,000

3,66,000 3,66,000

(6)

topper sample paper 3 - wordpress.com · q 11. on 31.03.03 g ltd. had rs.8,00,000 9% debentures due...

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