[T hi s q ue s ti o n pa pe r co t . s 16 pr in te d pa ge s.

]
n a 1n
... ... ... ... .
Y ou r R ol l N o ...

. C
Sr. N o. o f Q u es n on P ap er 26 2A

Un iqu e p ap er C o d e 22 41 11 01

nt in g
N am e o f th e p ap er Fi na nc ia l A cc ou

N am e o f th e C o ur se B .C om . (H on s)

S em es te r I
: 55
M ax im um Mar ks
D u1· at 1·o n : 3 H ou rs

r C an d id at es
In st ru ct io n s fo er.
re ce ip t o f th is qu es ti on pa p
ed ia te ly on
1. y o u r R o ll N o. on th e top im m
W ri te
qu es ti on s.
2. A tt em p t al l th e
rl y.
ki ng no te s cl ea
3. S h o w y o u r w or
.
a si m p le ca lc ul at or is al lo w ed
4. U se o f sh ou ld
H in di ; bu t th e sa m e m ed iu m
E ng li sh or
er s m ay be w ri tt en ei th er in
5. A n sw
h o u t th e p ap er .
b e u se d th ro u g

1.

2.

3.

4. ~
c f i~ ~ ~ /~ ~~q)f~~tt
7:T f ~ f c f im 1 [
:f c f iT " 3 m ~
5. " f f l~ - T f :

~I
PTO
 2
262 A B asi s and Ac cru a l Ba si s of
bet we en Cash (5)
I. (a) Ex pla in th e dif fer enc e
Accounting.
fjrom the boo
ks of Mr. An kit as at
· ext
• l ba1anc e 1s rac te d (1 O)
(b) The fol low ing tna
31 s1 Ma rch , 202 2:

Cr.
Dr. Particulars Ba lan ce
Particulars (Rs.)
Balance
(Rs.) 95,000
I
17,000 Capital 15,000
/ Openin g Stock
55,000 Creditors 10, 000
I Purchases
5,000 J 0% Ban k Loa n
Sales Returns (raised on 1-10-2021) 1, 10, 000
1,500 Sales 8,0 00
Carriag e Inwards
1
2,000 Purchase Ret urn s 2,0 00
/ Carriag e Outwards
10,000 Wages Outstanding 3,0 00
I Wages
18,000 Salaries Outstanding 2,5 00
Salaries
20,000 Discount Rec eiv ed
Furniture
70, 000
I Machinery
10,000
/ Cash in hand and Ba nk
'Debtors 18,000
3,2 00
Rent, Rat es and Taxes
2,0 00
Ins ura nce
1,000
Ba d debts
7,8 00
Dra win gs
3,0 00
Sun dry expenses
2,0 00
Discount Allowed 2,45,500
2,45,500
I

Ad dit ion al inf orm ati on :

(i) Closing stock as at 31st March

, 2022 was Rs. 11,000.

Goods withdrawn by the pro pri eto r Rs. 1,000 , not yet adjusted.
(ii)

500.
(iii) Insurance prepaid at the end Rs.
the end Rs. 290.
(iv) Sundry expenses outstanding at

on machinery @ 10% per annum.

(v) Charge depreciation on furniture and
262A 3

(vi) \.\Trite off further bad debts Rs . 1000 .

(vii) Create provisi on for bad and doubtfu l debts @ 3% of the debtor s.

Prepare Trading and Profit and Loss Accoun t for the yea r ended 31st March.
2022 an d Balanc e Sheet as on that date.

OR

(a) Explai n Conven tion of F ull Di sclosur e and Conven tion of Materia lity. (5)

(b) From the followi ng Receip ts and Paymen ts Accoun t of Haryan a Club, prepare
the 10 Income and Expen diture Accou nt for the year ended 31st March ,
2022 : (10)

Receip ts Amoun t Payme nts Amoun t

(Rs.) (Rs.)
To balance bid By Salaries 15,000
Cash 2,000 By Repairs 1,000
Bank 18,000 20,000 By Purchas e of Furnitu re 10,000
To Donatio n 5,000 By Purchase of Investments 10,000
To Subscri ptions 40,000 By Insuran ce Premiu m 600
To Entranc e Fee 2,000 By Printing and Station ery 400
To Interes t on Investm ents 600 By Billiard s Table 20,000
To Sale of Old 200 By Miscell aneous 1,000
Newsp apers Expens es
By Balanc e
Cash 1,800
Bank 8,000 9,800
67,800 67,800

Addit ional Information :

(i) Subscription in arrear for the year 2021-22 Rs. 2,000 and subscription
received in advance for the year 2022-23 Rs. 1,200.

(ii) Insurance premium prepaid Rs. 200 on 31st March , 2022 . .·

(iii) Miscellaneous expenses outstanding on 31st March , 2022 Rs. 200 .

(iv) Entrance fee is to be treated as revenue income .

 4
. fi . •wre at JS% and on billianJs tabl e at 1()!1/,
262A . ·atwn on urn1 ,,
Charge dep1 eci t March 2022 R s . 3,000 .
(v )
d . . on 31 s ,
. Salaries outstan ing
(vi) ' b.l 1st March 2022 Rs . 2,400 .
. b1·11 aya e on 3 '
(vii) Electricity P

d-hand machinery on 1-1-2020 for Rs. 80,000

Raman purchased a secon .
2. (a) . for its overhaul mg. On 31-3-2020, Raman paid
and also paid Rs. 11- ,000 .
th installation which was completed on that date . The
Rs. 8,000 towar ds e .
. d · operations immediately with effect from 1-4-2020.
machme was use m
·d depreciation on its machinery at 20% p.a. on diminishing
Raman prov1 es st
balance method from the date it was put to use and closes its books on 31
December every year. On 1-10-2021, a repair work was carried out on the
machine and Rs. 5,000 were paid for the same.

The machine was sold on 31-10-2022 for a sum of Rs. 21 ,000 and an
amount of Rs . 2,000 was paid as dismantling charges.

Prepare Machinery Ale and provision for Depreciation on Machinery Al e

from 2020 to 2022. (7)

(b) Give any three points of differences between FIFO and LIFO . (3)

OR

(a) The following are the details of material in respect of a certain item of Modi
Enterprises : (7 )

I
1-1-2022 Purchases 600 units ((4 Rs . 20 each
1-2-2022 Purchases 200 units ((4 Rs . 24 each
I 15-2-2022 Sales 200 units (aJ Rs . 30 each
1-4-2022 Purchases 300 units ((4 Rs. 30 each
15-4-2022 Sales 400 units ~ Rs. 40 each
1-6-2022 Purchases 300 units @ Rs. 40 each
'
15-6-2022 Sales 350 units (aJ, Rs . 50 each

Using perpetual inventory system, find out the cost of cl osing stock as on
30-6-2022 according to : ~
 262 A 5

(i) F irst- in-f irs t-ou t basi s and

(ii) Wei ghte d aver age pric e bas is

ed) re lati n g t o Dep reci ati o n . (3)

(b) Exp lain sali ent feat ures of AS- IO ( R evis

Goo d s are so ld o n hire purc hase

3. (a) Vid hya has a hire pur cha se d e part m e nt.
p arti cu lars , prep are Sho p Sto ck
at cos t plus 33½ % . Fro m the foll owi ng
k Acc oun t and H .P. Adj u stm ent
Acc oun t, H.P . Deb tors Acc oun t, H .P. Stoc
(7)
Acc oun t:
Am oun t (Rs. )
1-4- 202 1
4 ,000
Stock out with H.P. customers at S.P. 500
Stock at shop at cost 300
Installments due
1-4-2021 to 31-3-2022 8,00 0
Cash received from customers
valued at Rs.
Goo ds repossessed (instalment due Rs. 2,000)
in Sho p Stock)
500 (This has been included in closing bala nce
31-3 -202 022 500
Inst alm ents due (customers payi ng) 1,20 0 \
sed)
Stoc k at shop at cost (including goods reposses 4 ,600 \
tock out with H .P. cust ome rs at S.P .
I
I

(3)
(b) Wh at are the ind icat ors of Fin anc e Lea se?

OR

ent fo r 4 yea rs to AB C Ltd . The

(a) On Apr il I , 202 0, XY Z Ltd. leas es equ ipm
a use ful life of 10 years. The
cos t of the equ ipm ent is Rs. 15, 00,000 and has
foll ow s : (7)
leas e pay me nts are to be ma de as

Year Amount (Rs.)

I 1,00,000
2 1,40,000
3 1,60,000
4 2,00,000
Total 6,00,000
 6
262 A How would this lease be accc
erating lease. . . >uritcq
'I'I e lease is classified as op d 1 ssee? Show it by passmg Journal entr"
for in the books oft he 1essor an
l
e
h 2021 and 2022, as per AS - 19.· Leases.ie~ l
. . the year ended 31st Marc .' ble at the end of each year. Char l
f or tal is paya
is given that the lease r~n straight line basis @ 10% p.a. Leasge
.
depreciat10n for t·he eq uipment on e
Equalisation needs to be done.

(b) Distinguish between Hue . Purchase Sy stem and Instalment Purchase

(J)
System.

( ) Hosiery Ltd. has its branches m . b la and Ludhiana to whom goods

4. a . . Am a . . . .
are invoiced at cost p1us 25 o/co. The following mformatton 1s available
d. 31 t M
of the transactions at Amba 1a Branc h fior the year en mg s arch
'
2022 : 7
( )

/ Particulars Amount (Rs.)

/ Balance at 1st April, 2021
I Stoc k at invo ice price
20,000
Debtors 6,000
Petty Cash
475
Transactions during 2021-2022
Goods sent to branch at invoice price
2,40,000
Goods returned to HO at invoice price
7,500
Cash Sales
60,000
Credit Sales (Sold at cost+ 50%)
90,000
Normal loss at invoice price
300
Goods pilfered at invoice price
1,500
Goods lost in fire at invoice price
3,000
Insurance Co. paid to HO for loss by fire at Ambala
2,000
Cash sent for petty expenses
16,000
Goods transferred to Ludhiana branch under instructio
ns from 6,000
HO at invoice price
Insurance charges paid by HO
1,000
Goods returned by debtors
Cash received from debtors 500
Balance on 31st March, 2023 89,500
Petty cash
Debtors 425
Stock 5,500
?
262 A 7

Pre p are .

(i) B ran c h <;j 1<1ck /\LC OUi ll ,

,
(ii) Hr<.111 cli /\ dju -, tm (;n t /\c u 1urH

(iii) Bra JJ c h P rofi t & / ,o ','> /\u(

)un t

(i v ) B nrn ch I kb to n, Acc <Ju

nt ;

(v) Go och ,;c nl l o Bra nch Acc o unt

onm ent (Jf l!Xp c n '> t ; .

(b) Lxp /ain any thre e ba~cs of app orti

OR
3 l -·
to Del hi branch fo r the'_; ear end ing
(a) Fro m the fo ll owi ng detai ls relating
, and Goo ds se nt to Bra nch Ac cou nt
Ma rch 2022 , Pre pare Bran ch Ac co unt c:-)
boo ks of Hea d Off ice . Sho w you r wo rkin gs cle arly :
in th e

Amount (in RJ.)

25 ,000
Stock on 1-4-2021 10,000
Debtors on 1-4-202 1 6,000
Furniture on 1-4-2021 l,00 0
Petty Cash on 1-4-20 21 300
Insurance prepaid on 1-4-2021 4,000
Salaries outstanding on 1-4-202 1 2,00,000
Goods sent during the year 2021-22 2,70,000
Cash sales during the year 3,50,000
Total Sales 65,000
Cash received from Debtors 5,000
Cash paid by Debtors direct to HO 2,000
Goods returned by branch 1,000
Goods returned by Debtors
Cash sent to branch for expenses
9,600
Rent (aJ Rs . 800 p.m.
48,000
Salary ~ Rs. 4,000 p.m .
2,000
Petty Cash 60,800
2 1,200
Insurance (for 12 months) up to June 202 2,200
Petty Cash expenses 500
Discount allowed to debtors 15,000
Stock on 31-3-2022
 26 2A

the claim .
r ;
·)
of De pen den t B rnn c,hc-,.
(b) Gi ve sal ien t featu res

? : L. : : · •;-; _
pa rtn ers sha rin g pro fit s an d loss-e 5 in r~e :~~JO ,, f
5. A, Ba nd C we re / ' r

s as fo IJo ;
· / s:
lan ce Sh eet v1a
31 s, Ma rch , 20 22 , the ir Ba

Ba lan ce Sh ee t

Am ,m nt
I
Am ou nt A. um
Liabilities {R. ! . )

I
/ Su ndry Creditors
(Rs .)
30,00 0 Cash at Bank
Sto ck
9, YX,1
: 5~5rh
5,0 00 32 //; f;
/ Bil ls Pa yable 6,0 00 Sun dry De bto rs
/ A' s Loan 5// /)
12,000 Fu rni tur e
/ Re ser ve fund Plant 2 1,(XJ(J
6,000
/ Pr ofi t and Lo ss Al e 4 ,(fj (J
A's Drawings
Capital Accounts I' CJ()(;
20,000 B s Drawings
1

A 6/J(J(;
15,000 C's Capital Al e
B 94 ,000
94,000

ws :
firm was dissolved on that date. Assets realised as follo
The
00.
De bto rs Rs . 30 ,10 0 an d Furniture realised Rs . 4,2
Stock Rs. 12,200;
A at Rs . 18 ,00 0. A co nti ng en t lia bi lit y for bil l
Plant was taken over by
. 600 .
ttl ed at Rs. 60 0. Re ali sa tio n expenses am ou nt ed to Rs
discounted is se
. 1,9 00 co uld be rec ov ere d from bis pr iv ate estate.
C is insolvent and only Rs
Gamer
Le dg er Ac co un ts to clo se the books of the firm. Apply
Prepare necessary
vs. Murray.

OR
 f.

I 262.A 9

es in tbe pro por t ic,n •)f • .·_<; · \ .

T lwir Bnb ih 'c I 0
A. B a nd C 5-harc pro fits and lvss " -.
2 wa s ns r1.., Ill,w s : t_\O )
She e t as 1Jn J I <; t D cce m be r, ::?O::?

Bal anc e She et

I
Lia bili ties Am o unt Ass ets Am oun t
(Rs .) - - ~ (Rs.) -
- --- -- -
15.0 00 Cas h 3,000
A ' s Cap ital A/ c
12.0 00 Oth er Ass e ts )6,0 00
_O 's C~apital ;\ / c -- -

C 's Cap ita l Ale 3,0 00

A 's Loan 6,0 00 -- - - -- -
/ B 's Loa n 3,0 00 - - - - -- -- - - - -
Reserve Fund 6_000
Creditors 10,0 00 - -- - - ---- --
--
Conting ent Reserve 4,0 00
59,000
59,000

the ass e ts rea li sed are as follows :

Th e par tne rsh ip is di sso lved and

Rs . .10,000
' Fir st Realisation Rs . 20, 000
Sec ond Realisation Rs . 17,000 1

I Third Rea lisa tion

dis sol uti on, the re wa s a con tin gen t liab ilit y of Rs. 1,0 00 aga ins t
On the dat e of
lisa tion
at the time of sec ond realisation. Rea
the firm wh ich was set tled at Rs. 700
C too k sto ck
ens e est im ate d at Rs. 2,0 00 but act ual ly cam e at Rs. 1,5 00 .
exp
rea lisa tio n.
wo rth Rs. 500 at the tim e of thi rd

the dis trib uti on sho uld be ma de.

Pre par e a sta tem ent , sho win g how

(s)
cfi' ~ ~ tcrl'ic chlful~I
1.
(31) ~ 3ITTW 3W c4<q(cfi'1 cf1 3411lfi anUR

f, 202 2 "cfi1' ~ ~ cfi1' ~ ~ HA ~R qa ~~ Hcfii(-11 ~ :

(~) 31 "1TR

P. T. C
262A 10

Particulars Cr.
P1u•ticulars Dr.
Balance Balance
(Rs.) (Rs.)
17,000 Ca pital 95,000
Opening Stock 15 ,000
Purchases 55 ,000 Creditors 10,000
Sales Returns 5,000 10% Bank Loan 1 )
(raised on 1-10-202 1, 10,000
Carriag e Inwards 1, 500 Sales 8,000
turns
2, 000 Purchase Re 2,000
Carriag e Outwards standin g
Wag es 10,000 Wages Out 3,000
utstandin g
18,000 Salaries O 2, 500
Salaries ceived
20,000 Discount Re
Furniture
70,000
Machinery
an k 10,000
Cash in hand and B 18,000
Debtors 3,200
xes
Re nt, Rates and Ta 2, 000
Insurance 1, 000
B ad debts 7, 800
Drawings 3, 000
Su ndry ex penses 2, 00 0 2,45,500 -
D is co un t Al lo w ed 2, 45 ,5 00
I

ljf Rtf&a \J'f j,rf cf> ,,fl :

cfil aTffi1f ~ 11,00 0 ff l 2JTI
(i) 31 ~ , 20 22
"inT A -acfi" tl+ii<nfu:ta- --=iml
7flrr llTH" 1,0 00
ff l cfiT 2JTI
(ii) ~ ~ HctilHI

50 0 ff ll
(iii) affi ~ ~ R
fi ~ 29 0 ff ll
(iv) ~ ~ ~ af
'j_c-4~jij ~ c:hlfu
lQI
10 % m?I" cft:f cfil ~
'ij
(v) ~ 3& '1iil-ifl TR

aik ~ aik m#r rcm:rr aw

~ ~
- ~ m;t ~ qr f cfi" ~
oqrw
311Wtf, 2022 cn1 (10)
c fl ~ ~ w w w ~ ,
J6 l:\ 11

~,
(5)

~i m "f f ~1ftt:l ,ni ~p1tt1..:r ·{arn ·{) ~1 ,,Fi<t, 202 2 t~nn,,T"~, ~,:.r ,n~
(«r) ~ 'UTT ~ ~
~~~ 31Tlr ~~ "&llf ~@ r ~F ( tf~ ~(! :

Amount Pnym cnf s Ammm t.

Receipts
(lb .) (Rs.)
- 1\0 00
To balance b/d By Sn lnries - -

-- By ll cpairs 1,000
Cas h
Bank
To Donat ion
2,000
18,000 I 20,000
5,000
-
Uy l~urc~ase of" Fi 11~ tu re- _ 10~ 0.Q
By l' 11rc l111 sc or 111 1',:S ill llJ IIIS 10,000
- 600
To Subsc ri pti o~1s 40,000 _Qy~ sura ncc Pre mi111n -- -
400
To Entran ce Fee 2,000 By Prinl ing and Sta tionery
20,000
Bv Bi lli ards Table
To Intere st on Investments 600
1,000
200 By Mi sce llan eous
To Sal e of Old
g__x ~nses -- -
Newspapers
By Bal ance
Cas h 1,800
8,0 00 9,800
Bank
67 ,800
67 ,800

(i) cfTf 20 21 -22 c f i ~ ~ ~ 2 , o

o o m ~q tif 2022-23 cf i~ 3ITTf+f
~~ mta" ff~f!.lal 1,200 -m t1
31 ~ , 2022 cfil" ~ Sfl~ll'1 ~~ 2001
(ii)

(iii) 31 "1fftf, 20 22 cfil" ~ AAt1" o!Fl -m 200 I

l1 fR Tt l
. ) ·~ c fi l" ~ an!f cf i'm ~~
(IV --=>

(vi) 31 ~ ' 2022 cfiT ~ ~ ~- 3,0001

cfiT ~ ~ ~ ~-
214001
(vii) 31 ~ ' 20 22

P.T C
 Ill'
12

( a,J ~ ;;j- H - 2020 'li7 ao ,ooo <"

lit '! T1'lt ~ i<rtIB aJR wtt J11~<mt;:i-,r ,it f.11?
<'Ff ;;j- "I\ "f'llllFlT ,j} f.r1
/ 8 ,000 ;ii)
,000 vqit <l>T ~ ,jt
12 fili'!r 31 - 3 - 2 0 2 0 'li7
'Jl:m17T ~ 1fllT ~.ir,
I

~ 20 20 i)- ITIB ~'tllc>H ~

~ ~ cfiT ~ garr ~, cn t 1- 4 -
tfi"ffiT t, m wf Fr m~
~ ™
~ ~ ~ w 20 % ~ cfiT i)- '1c -4@ m
ff l ~ ~ e n { ~ t, ~
qt f
"'
~
c fi r~ cfiBcfif ~
i)- a & ~ ~ 31 cfiT
1Jifr Vcf ~ tzq
~ 5 ~ ~ cITT
c fi T ~ c fi r~ cfiT ff l ~
ijf
1- 10 -2 02 1
21,000 ff l cfif 'W$
~ ~ 7-r:TT ¥TT 3fll

~ ~ 'lflrrl ~ cfiT 31 -1 0- 20 22 cfiT

~~~~~W~ 2,0 00
l!TTI
cfiT ~ ~ 1 T l l f

fiw mcTUF f ~
20 20 "ij" 20 22 Bcfi
~ ~ ~ ~ tR '!,c-4 @m cfi'
(7)
~,
(10)

m
f.-l9R;iR'qa t:
~ ~ oo.r ~ ~ q)f fctcRur
( JT) ~ <?c<S4,~'1l111 cfit Vcfi AfNa

Purchases 600 units ~ Rs. 20 each

1-1-2022
Purchases 200 units ([_i), Rs . 24 each
1-2-2022
Sales 200 units @ Rs. 30 each
15-2-2022
Purchases 300 units (.!._!) Rs . 30 each
1-4-2022
Sales 400 units (dJ Rs. 40 each
15-4-2022
Purchases 300 uni ts ({i), Rs. 40 each
1-6-2022
Sales 350 units Cr& Rs. 50 each
15-6-2022

30 - 6 - 2022 Cfil c«11f"Gl'.11 "filcfi cfil "Rl1@'

~ ~ cfiT 3"Cfl1Pr qi'&
s\1,
~a rc ;r
"'

(i) ~an-an-~ lTI"aTI' ~ arruR tf{

(7)
(ii) ~ ~ ~ 3UUR
I
262A 13

(3f) fcm rqif ~•~ i,~m R~+ JIB 33 ½% ~~~~

I
3.
'1fIBT t, f-i1.-tR9Rc!a ~ ~, ~lfqtc:'fch \9@T, ~."llt. ~ \9@T, 'fq."llt. "fc:Tcfi
~
~ H.P. ~+11411i1'1 \9IBT ~ "cht : (7)

Amoun t (Rs.)
1-4-2021
Stock out with H.P. customers at S.P. 4,000
Stock at shop at cost 500
300
Installments due
1-4-2021 to 31-3-2022
8,000
Cash received from custom ers
Goods repossessed (instalm ent due Rs. 2,000) valued at Rs .
500 (This has been include d in closing balance in Shop Stock)
31-3-202022
500
Instalments due ( custom ers paving)
1,200
Stock at shop at cost (including goods reposse ssed)
4,600
tock out with H.P . custom ers at S.P .

(ar) 1 ~ , 2020 cir, XYZ ~ ~ ABC ~ cfTT 4 ~ ~ ~ 34cfi{OI "4t ~ ~I

34cfi(Oi cfiT' ~ 15 ,00 ,ODO ffl t 3W 10 ~ cfil 394\JTI ~ t, ~ ~

f.i.t--1,.::if
-.;,
lR M '1fRT t:
Year Amount (Rs.)
1 1,00,000
2 1,40,000
3 1,60,000
4 2,00,000
Total 6,00,000

9f~m ~~~ lf1:I T%1 ~ ~ ~ q i l " ~ ~ ~ w

"C@"cfil' 9R~r~H
cfil ~ ~ ~ ~ ? AS-19 : im ~ ~ 31 ~ , 2021 ~ 2022
cfil' ~

qtf ~ ~ ~ Sl~~Zfi wr ~ ~ , ~ wu lT1:IT t fcfi- w ~ ~ ~

~ 3@' ~ ~ rnfJ' %1 J9cfi(OI ~ ~ "ffim ffl ~ 3mlR 'tR 10% ~ ~ qil" ~ "ij"

(7)

PT.O.
 14

• -~~
,,,,~~~~
I

qtfc fi"~ ~~~~~

<S o,.;
262A ~-i¥ -,i'i.,,

, 31 ~'
''\'!~
fc;rfitzs ~~"
ctft~t 2 O2 2 q i ) - ~
(Jr) ~
~·)
4. I

.,rc;r ~ fcf;2:rr
,rllrici>l"fr ~ ff ..
A1nou1u
- - - - -- ,-- --: :
Parti cular s A ril, 2021
l~t rice
Bala nce ,.at o1ce
1---='----:--.

Debt ors
at w v
StockCash
PettY . 2021 -202 .
• 2 nee
n' oo
--==================~F==~2~l,40,0
- - . s durJD
· e nee
Good
Tran
ssacti
t to branc
sen on HO at invo1 c
h at invoice~==·
7~,SOooo
===================~[===~~90,0o
60,0o
Good s returned to 30o
Cash Sales Jd t cost + 50%)
~ ~n2!·c~e~- - - - - - - = = = = = = i = = =1 t ,soo

t~~~l~~t
Credit Sales (S? .). , ,Ooo
Normal . ass fc ed a at rnvo1
. ·ce price ==i == =t
Goods p1J er 1~nivor1~ce~ . · e
~i ~~ ~:: rice :;; ~;; ;;~ ==
1voo1~or loss by fire at Ambala 2,0oo
Goods lost in fir~ atto11H
C P~~ x
1 .Q!~su~r~an~c:=-ez:o-::. es 16,0oo
aid fi m 6,00 0
1-Cash sent for ett ex ens
·
dhiana branch under instructwns ro

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Goods transferred to Lu

"db HO 500
Insurance charges pai Y
89,500
Goods returned b debtors
Cash received from debtors
Balance on 31st March, 2023
Pe cash 425
Debtors 5,500
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Stock

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1ITTr 2022 <fil WW<f mil- <lf.t 1'l"T <ii- fRi[ ~ ~ ~ ~ H"i
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31

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 - Amount (in Rs,)
~Stock on 1-4-2021
25,000
Debtors on 1-4-2021 10,000
Furniture on 1-4-2021 6,000
Petty Cash on 1-4-2021 1,000
Insurance prepaid on 1-4-2021 300
Salaries outstanding on 1-4-2021 4,000
Goods sent during the year 2021-22 2,00,000
Cash sales during the year 2,70,000
Total Sales 3,50,000
Cash received from Debtors 65,000
Cash paid by Debtors direct to HO 5,000
Goods returned by branch 2,000
Goods returned by Debtors 1,000
Cash sent to branch for expenses
Rent (a} Rs. 800 p.m. 9,600
Salary (a} Rs. 4,000 p.m. 48,000
Petty Cash 2,000
Insurance (for 12 months) uo to June 2022 1,200 60,800
Petty Cash expenses 2,200
Discount allowed to debtors 500
Stock on 31-3-2022 15,000

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Balance Sheet
1
Amount Assets Amount
Liabilities
I/ Sundry Creditors (Rs.)
30,000 Cash at Bank
(Rs.)
9;500 \
5,000 Stock l 5,500
I BiIIs Payable 32,000
_A. ~s Loan 6,000 Sundry Debtors
12,000 Furniture \ 5,000 \
Reserve fund 21 ,000 \
Profit and Loss Ale 6,000 Plant \
A's Drawings \ 4,000 \
/ Capital Accounts
20,000 B's Drawings \ 1,000 \
I A. \ 65)0()
IB 15,000 C's Capital Ale
t
94,000 \ . -\
94.000
'
\

T /\.
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~ ~ </. 4,2001 ~ cfiT 18,000 ~~ 'i

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P.-. .. I
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fit<;r m 3rr{ 0
1.11,
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8 a Jan ce Sh ee t Amount
-
Assets
Am ou nt (Rs.)
Liabilities
I
f A' s Capital Al e
(R s.)
15,000 Cash
Other Assets
3,0 00
56,000
12,000
f B's Capital Al e 3,0 00
I C' s Capital Ne
6,000
A 's Loan
3,0 00
B' s Loan
6,0 00
Reserve Fund
10,000
Creditors
4,0 00
Contingent Reserve 59,000
59 ,00 0
I

ws :
hip is dis so lve d an d the as se ts rea lis ed are as fo llo
The partners

Rs . 10,000
/ First Realisation Rs. 20,000
Second Realisation
Rs. 17,000
Third Realisation
~ ~ 700
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