Marking Scheme July -2017-18 | Crash Course of Accountancy - Class 12 - Commerce PDF Download

 Page 1


	
  
 
1	
  
	
  
 
- -Strictly Confidential : (For Internal and Restricted Use Only) 
Senior School Certificate Examination 
July -2017-18 
Marking Scheme - Accountancy Compartment 67/1-2-3 
 
General Instructions:- 
 
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own 
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed. 
 
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been 
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given 
only after ensuring that there is no significant variation in the marking of individual evaluators. 
 
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the question 
should then be totalled up and written in the left hand margin and encircled. 
 
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled. 
 
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer 
scored out.  
 
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once. 
 
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given 
the narrations. 
 
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it. 
 
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts. 
 
10.  In theory questions, credit is to be given for the content and not for the format. 
 
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books. 
 
12. Avoid the following common types of errors committed by the Examiners in the past-. 
Ø? Leaving answer or part thereof unassessed  in an answer script 
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme. 
Ø? Wrong transference of marks from the inside pages of the answer book to the title page. 
Ø? Wrong question wise totaling on the title page. 
Ø? Wrong totaling of marks of the two columns on the title page 
Ø? Wrong grand total 
Ø? Marks in words and figures not tallying 
Ø? Wrong transference to marks from the answer book to award list 
Ø? Answers marked as correct but marks not awarded. 
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded. 
 
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded zero(0) 
Marks. 
 
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage the 
prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of all 
concerned, It is again reiterated that the instructions be followed meticulously and judiciously. 
 
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual 
evaluation. 
 
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and 
written in figures and words	
  
 
 
	
  
Page 2


	
  
 
1	
  
	
  
 
- -Strictly Confidential : (For Internal and Restricted Use Only) 
Senior School Certificate Examination 
July -2017-18 
Marking Scheme - Accountancy Compartment 67/1-2-3 
 
General Instructions:- 
 
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own 
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed. 
 
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been 
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given 
only after ensuring that there is no significant variation in the marking of individual evaluators. 
 
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the question 
should then be totalled up and written in the left hand margin and encircled. 
 
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled. 
 
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer 
scored out.  
 
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once. 
 
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given 
the narrations. 
 
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it. 
 
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts. 
 
10.  In theory questions, credit is to be given for the content and not for the format. 
 
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books. 
 
12. Avoid the following common types of errors committed by the Examiners in the past-. 
Ø? Leaving answer or part thereof unassessed  in an answer script 
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme. 
Ø? Wrong transference of marks from the inside pages of the answer book to the title page. 
Ø? Wrong question wise totaling on the title page. 
Ø? Wrong totaling of marks of the two columns on the title page 
Ø? Wrong grand total 
Ø? Marks in words and figures not tallying 
Ø? Wrong transference to marks from the answer book to award list 
Ø? Answers marked as correct but marks not awarded. 
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded. 
 
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded zero(0) 
Marks. 
 
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage the 
prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of all 
concerned, It is again reiterated that the instructions be followed meticulously and judiciously. 
 
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual 
evaluation. 
 
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and 
written in figures and words	
  
 
 
	
  
	
  
 
2	
  
	
  
Q.	
  Set	
  	
  No.	
   Marking	
  Scheme	
  Compartment	
  2017-­-18	
  
Accountancy	
  (055)	
  
	
   	
   	
   Delhi	
  –	
  67/1-­-2-­-3	
  
Expected	
  Answers	
  /	
  Value	
  points	
  
Distribution	
  
of	
  marks	
  
67/1	
   67/2	
   67/3	
  
1	
   4	
   6	
   Q.	
  Vinay	
  and	
  Naman................................goodwill?	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Amt.(`)	
  	
  	
  	
  	
  	
  	
  	
  
	
  Total	
  Capital	
  of	
  the	
  new	
  firm	
  (on	
  the	
  basis	
  of	
  Prateek’s	
  capital)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3,00,000	
  
Less:	
  Actual	
  Total	
  Capital	
  of	
  the	
  firm	
  	
  	
  	
  	
  (Vinay+Naman+Prateek)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,60,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Goodwill	
  of	
  the	
  firm	
   	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  40,000	
  
	
  
	
  
	
  
1	
  Mark	
  
2	
   6	
   4	
   Q.	
  	
  In	
  which	
  ratio.......................................deceased	
  partner?	
  
Ans.	
  The	
  remaining	
  partners	
  will	
  acquire	
  the	
  share	
  of	
  the	
  deceased	
  partner	
  in	
  Gaining	
  ratio.	
  
	
  
	
  
1	
  Mark	
  
3	
   5	
   2	
   Q.	
  	
  Give	
  the	
  ................................................partnership	
  firm.	
  	
  
Ans.	
  	
  .	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
	
   Partner’s	
  Capital	
  A/c	
  	
  	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  To	
  	
  Partner’s	
  Loan	
  A/c	
  
[Asset	
  side	
  loan	
  of	
  partner	
  transferred	
  to	
  
his	
  capital	
  account	
  on	
  dissolution	
  of	
  firm]	
  
	
   	
   	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
4	
   2	
   1	
   Q.	
  	
  Aman,Yatin............................................................Aman	
  and	
  Yatin.	
  
Ans.	
  	
  	
  Aman’s	
  Gain	
  =	
  5/8X	
  2/10=	
  5/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Yatin’s	
  Gain	
  =	
  	
  3/8	
  X	
  2/10=	
  3/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Gaining	
  Ratio	
  =	
  5:3	
  
	
  Note	
  :	
  	
  In	
  case	
  an	
  examinee	
  has	
  not	
  	
  shown	
  the	
  calculation	
  but	
  has	
  given	
  the	
  correct	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  answer,	
  full	
  credit	
  may	
  be	
  given.	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
5	
   3	
   5	
   Q.	
  	
  Give	
  two	
  items..............................................	
  Current	
  Account.	
  
Ans.	
  	
  	
  (any	
  two)	
  
1.	
  Drawings	
  
2.	
  Interest	
  on	
  drawings.	
  
3.	
  Share	
  of	
  loss	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  	
  
=1	
  Mark	
  
6	
   1	
   3	
   Q.	
  	
  What	
  is	
  meant......................................	
  Shares’?	
  
Ans.	
  	
  Private	
  placement	
  of	
  shares	
  means	
  any	
  offer	
  of	
  securities	
  or	
  invitation	
  by	
  a	
  company	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  to	
  subscribe	
  for	
  securities	
  to	
  some	
  selected	
  individuals	
  and	
  institutional	
  investors.	
  
	
  
	
  
	
  
1	
  Mark	
  
7	
   10	
   9	
   Q.	
  Amit	
  and	
  Kartik.............................	
  share	
  of	
  goodwill.	
  
	
  
Ans.	
  	
  	
  	
  Normal	
  profits	
  =	
  12	
  	
  	
  X	
  	
  1,60,000	
  =	
  `19,200	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  100	
  
Average	
  profit	
  =	
  `	
  30,000	
  
Super	
  profit	
  =	
  ` 30,000	
  - `	
  19,200	
  =	
  ` 10,800	
  
	
  
Goodwill	
  =	
  `10,800	
  x	
  4	
  =	
  `43,200	
  
Saurabh	
  Share	
  of	
  Goodwill	
  =	
  `	
  43,200	
  x	
  1/3	
  =	
  `	
  14,400	
  
	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
=	
  
3marks	
  
8	
   7	
   7	
   Q.	
  	
  Navnirman	
  Ltd.......................................	
  these	
  entries.	
  
	
  
	
  
	
  
	
  
	
  
Page 3


	
  
 
1	
  
	
  
 
- -Strictly Confidential : (For Internal and Restricted Use Only) 
Senior School Certificate Examination 
July -2017-18 
Marking Scheme - Accountancy Compartment 67/1-2-3 
 
General Instructions:- 
 
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own 
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed. 
 
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been 
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given 
only after ensuring that there is no significant variation in the marking of individual evaluators. 
 
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the question 
should then be totalled up and written in the left hand margin and encircled. 
 
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled. 
 
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer 
scored out.  
 
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once. 
 
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given 
the narrations. 
 
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it. 
 
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts. 
 
10.  In theory questions, credit is to be given for the content and not for the format. 
 
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books. 
 
12. Avoid the following common types of errors committed by the Examiners in the past-. 
Ø? Leaving answer or part thereof unassessed  in an answer script 
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme. 
Ø? Wrong transference of marks from the inside pages of the answer book to the title page. 
Ø? Wrong question wise totaling on the title page. 
Ø? Wrong totaling of marks of the two columns on the title page 
Ø? Wrong grand total 
Ø? Marks in words and figures not tallying 
Ø? Wrong transference to marks from the answer book to award list 
Ø? Answers marked as correct but marks not awarded. 
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded. 
 
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded zero(0) 
Marks. 
 
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage the 
prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of all 
concerned, It is again reiterated that the instructions be followed meticulously and judiciously. 
 
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual 
evaluation. 
 
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and 
written in figures and words	
  
 
 
	
  
	
  
 
2	
  
	
  
Q.	
  Set	
  	
  No.	
   Marking	
  Scheme	
  Compartment	
  2017-­-18	
  
Accountancy	
  (055)	
  
	
   	
   	
   Delhi	
  –	
  67/1-­-2-­-3	
  
Expected	
  Answers	
  /	
  Value	
  points	
  
Distribution	
  
of	
  marks	
  
67/1	
   67/2	
   67/3	
  
1	
   4	
   6	
   Q.	
  Vinay	
  and	
  Naman................................goodwill?	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Amt.(`)	
  	
  	
  	
  	
  	
  	
  	
  
	
  Total	
  Capital	
  of	
  the	
  new	
  firm	
  (on	
  the	
  basis	
  of	
  Prateek’s	
  capital)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3,00,000	
  
Less:	
  Actual	
  Total	
  Capital	
  of	
  the	
  firm	
  	
  	
  	
  	
  (Vinay+Naman+Prateek)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,60,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Goodwill	
  of	
  the	
  firm	
   	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  40,000	
  
	
  
	
  
	
  
1	
  Mark	
  
2	
   6	
   4	
   Q.	
  	
  In	
  which	
  ratio.......................................deceased	
  partner?	
  
Ans.	
  The	
  remaining	
  partners	
  will	
  acquire	
  the	
  share	
  of	
  the	
  deceased	
  partner	
  in	
  Gaining	
  ratio.	
  
	
  
	
  
1	
  Mark	
  
3	
   5	
   2	
   Q.	
  	
  Give	
  the	
  ................................................partnership	
  firm.	
  	
  
Ans.	
  	
  .	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
	
   Partner’s	
  Capital	
  A/c	
  	
  	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  To	
  	
  Partner’s	
  Loan	
  A/c	
  
[Asset	
  side	
  loan	
  of	
  partner	
  transferred	
  to	
  
his	
  capital	
  account	
  on	
  dissolution	
  of	
  firm]	
  
	
   	
   	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
4	
   2	
   1	
   Q.	
  	
  Aman,Yatin............................................................Aman	
  and	
  Yatin.	
  
Ans.	
  	
  	
  Aman’s	
  Gain	
  =	
  5/8X	
  2/10=	
  5/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Yatin’s	
  Gain	
  =	
  	
  3/8	
  X	
  2/10=	
  3/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Gaining	
  Ratio	
  =	
  5:3	
  
	
  Note	
  :	
  	
  In	
  case	
  an	
  examinee	
  has	
  not	
  	
  shown	
  the	
  calculation	
  but	
  has	
  given	
  the	
  correct	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  answer,	
  full	
  credit	
  may	
  be	
  given.	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
5	
   3	
   5	
   Q.	
  	
  Give	
  two	
  items..............................................	
  Current	
  Account.	
  
Ans.	
  	
  	
  (any	
  two)	
  
1.	
  Drawings	
  
2.	
  Interest	
  on	
  drawings.	
  
3.	
  Share	
  of	
  loss	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  	
  
=1	
  Mark	
  
6	
   1	
   3	
   Q.	
  	
  What	
  is	
  meant......................................	
  Shares’?	
  
Ans.	
  	
  Private	
  placement	
  of	
  shares	
  means	
  any	
  offer	
  of	
  securities	
  or	
  invitation	
  by	
  a	
  company	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  to	
  subscribe	
  for	
  securities	
  to	
  some	
  selected	
  individuals	
  and	
  institutional	
  investors.	
  
	
  
	
  
	
  
1	
  Mark	
  
7	
   10	
   9	
   Q.	
  Amit	
  and	
  Kartik.............................	
  share	
  of	
  goodwill.	
  
	
  
Ans.	
  	
  	
  	
  Normal	
  profits	
  =	
  12	
  	
  	
  X	
  	
  1,60,000	
  =	
  `19,200	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  100	
  
Average	
  profit	
  =	
  `	
  30,000	
  
Super	
  profit	
  =	
  ` 30,000	
  - `	
  19,200	
  =	
  ` 10,800	
  
	
  
Goodwill	
  =	
  `10,800	
  x	
  4	
  =	
  `43,200	
  
Saurabh	
  Share	
  of	
  Goodwill	
  =	
  `	
  43,200	
  x	
  1/3	
  =	
  `	
  14,400	
  
	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
=	
  
3marks	
  
8	
   7	
   7	
   Q.	
  	
  Navnirman	
  Ltd.......................................	
  these	
  entries.	
  
	
  
	
  
	
  
	
  
	
  
	
  
 
3	
  
	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  the	
  Madhur	
  Ltd.	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  
(`)	
  
Cr.	
  Amt.	
  	
  
(`	
  )	
  
	
  
	
  
	
  
	
  
(i)	
  	
  	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  ................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[First	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  2	
  per	
  
share]	
  
	
   8,00,000	
  
	
  
	
  
8,00,000	
  
	
   (ii)	
  	
  	
  Bank	
  A/c	
  .................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Arrear	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  advance	
  A/c	
  
	
  [	
  First	
  call	
  money	
  received	
  on	
  3,99,300	
  
shares	
  	
  along	
  with	
  final	
  call	
  on	
  6,000	
  shares	
  ]	
  
	
   8,16,600	
  
1,400	
  
	
  
	
  
8,00,000	
  
18,000	
  
	
   (iii)	
  	
  	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  	
  Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[	
  Final	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  3	
  per	
  
share]	
  
	
   12,00,000	
  
	
  
	
  
12,00,000	
  
	
   (iv)	
  	
  	
  Bank	
  A/c	
  ..........................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Advance	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  Arrear	
  A/c	
  
	
  [	
  Final	
  call	
  received	
  along	
  with	
  arrears	
  of	
  first	
  	
  	
  	
  	
  
	
  	
  	
  Call	
  and	
  calls	
  in	
  advance	
  adjusted]	
  	
  
	
   11,83,400	
  
18,000	
  
	
  
	
  
	
  
	
  
12,00,000	
  
1,400	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
1	
  
	
  
=	
  3	
  
marks	
  	
  	
  
9	
   8	
   10	
   Q.	
  	
  Janta	
  Ltd.	
  .......................................................notes	
  to	
  accounts.	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Balance	
  Sheet	
  of	
  	
  Janta	
  Ltd.	
  
As	
  at	
  ....................(As	
  per	
  revised	
  schedule	
  VI)	
  
Particulars	
  
Note	
  No.	
   Amount	
  (`)	
  
Current	
  year	
  
Amount	
  (`)	
  
Previous	
  year	
  
EQUITY	
  &	
  LIABILITIES	
  
I	
  	
  Shareholder’s	
  funds	
  :	
  
a) Share	
  Capital	
  
	
  
	
  
1	
  
	
  
	
  
5,79,600	
  
	
  
	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  -­--­--­--­--­--­--­--­-	
  
Notes	
  to	
  Accounts	
  :	
  
Particulars	
   (`)	
  
(1) Share	
  Capital	
  
Authorised	
  Capital	
  :	
  
2,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Issued	
  Capital	
  
1,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Subscribed	
  Capital	
  
Subscribed	
  but	
  not	
  fully	
  paid	
  	
  
96,400	
  shares	
  of	
  `	
  10	
  each,	
  `	
  6	
  called-­-up	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  Add	
  :	
  Forfeited	
  shares	
  A/c	
  
	
  
	
  
	
  
20,00,000	
  
	
  
	
  
10,00,000	
  
	
  
5,78,400	
  
1,200	
  
5,79,600	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  	
  
	
  
	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  
	
  
=3	
  
Marks	
  
Page 4


	
  
 
1	
  
	
  
 
- -Strictly Confidential : (For Internal and Restricted Use Only) 
Senior School Certificate Examination 
July -2017-18 
Marking Scheme - Accountancy Compartment 67/1-2-3 
 
General Instructions:- 
 
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own 
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed. 
 
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been 
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given 
only after ensuring that there is no significant variation in the marking of individual evaluators. 
 
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the question 
should then be totalled up and written in the left hand margin and encircled. 
 
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled. 
 
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer 
scored out.  
 
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once. 
 
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given 
the narrations. 
 
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it. 
 
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts. 
 
10.  In theory questions, credit is to be given for the content and not for the format. 
 
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books. 
 
12. Avoid the following common types of errors committed by the Examiners in the past-. 
Ø? Leaving answer or part thereof unassessed  in an answer script 
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme. 
Ø? Wrong transference of marks from the inside pages of the answer book to the title page. 
Ø? Wrong question wise totaling on the title page. 
Ø? Wrong totaling of marks of the two columns on the title page 
Ø? Wrong grand total 
Ø? Marks in words and figures not tallying 
Ø? Wrong transference to marks from the answer book to award list 
Ø? Answers marked as correct but marks not awarded. 
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded. 
 
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded zero(0) 
Marks. 
 
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage the 
prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of all 
concerned, It is again reiterated that the instructions be followed meticulously and judiciously. 
 
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual 
evaluation. 
 
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and 
written in figures and words	
  
 
 
	
  
	
  
 
2	
  
	
  
Q.	
  Set	
  	
  No.	
   Marking	
  Scheme	
  Compartment	
  2017-­-18	
  
Accountancy	
  (055)	
  
	
   	
   	
   Delhi	
  –	
  67/1-­-2-­-3	
  
Expected	
  Answers	
  /	
  Value	
  points	
  
Distribution	
  
of	
  marks	
  
67/1	
   67/2	
   67/3	
  
1	
   4	
   6	
   Q.	
  Vinay	
  and	
  Naman................................goodwill?	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Amt.(`)	
  	
  	
  	
  	
  	
  	
  	
  
	
  Total	
  Capital	
  of	
  the	
  new	
  firm	
  (on	
  the	
  basis	
  of	
  Prateek’s	
  capital)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3,00,000	
  
Less:	
  Actual	
  Total	
  Capital	
  of	
  the	
  firm	
  	
  	
  	
  	
  (Vinay+Naman+Prateek)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,60,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Goodwill	
  of	
  the	
  firm	
   	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  40,000	
  
	
  
	
  
	
  
1	
  Mark	
  
2	
   6	
   4	
   Q.	
  	
  In	
  which	
  ratio.......................................deceased	
  partner?	
  
Ans.	
  The	
  remaining	
  partners	
  will	
  acquire	
  the	
  share	
  of	
  the	
  deceased	
  partner	
  in	
  Gaining	
  ratio.	
  
	
  
	
  
1	
  Mark	
  
3	
   5	
   2	
   Q.	
  	
  Give	
  the	
  ................................................partnership	
  firm.	
  	
  
Ans.	
  	
  .	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
	
   Partner’s	
  Capital	
  A/c	
  	
  	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  To	
  	
  Partner’s	
  Loan	
  A/c	
  
[Asset	
  side	
  loan	
  of	
  partner	
  transferred	
  to	
  
his	
  capital	
  account	
  on	
  dissolution	
  of	
  firm]	
  
	
   	
   	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
4	
   2	
   1	
   Q.	
  	
  Aman,Yatin............................................................Aman	
  and	
  Yatin.	
  
Ans.	
  	
  	
  Aman’s	
  Gain	
  =	
  5/8X	
  2/10=	
  5/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Yatin’s	
  Gain	
  =	
  	
  3/8	
  X	
  2/10=	
  3/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Gaining	
  Ratio	
  =	
  5:3	
  
	
  Note	
  :	
  	
  In	
  case	
  an	
  examinee	
  has	
  not	
  	
  shown	
  the	
  calculation	
  but	
  has	
  given	
  the	
  correct	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  answer,	
  full	
  credit	
  may	
  be	
  given.	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
5	
   3	
   5	
   Q.	
  	
  Give	
  two	
  items..............................................	
  Current	
  Account.	
  
Ans.	
  	
  	
  (any	
  two)	
  
1.	
  Drawings	
  
2.	
  Interest	
  on	
  drawings.	
  
3.	
  Share	
  of	
  loss	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  	
  
=1	
  Mark	
  
6	
   1	
   3	
   Q.	
  	
  What	
  is	
  meant......................................	
  Shares’?	
  
Ans.	
  	
  Private	
  placement	
  of	
  shares	
  means	
  any	
  offer	
  of	
  securities	
  or	
  invitation	
  by	
  a	
  company	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  to	
  subscribe	
  for	
  securities	
  to	
  some	
  selected	
  individuals	
  and	
  institutional	
  investors.	
  
	
  
	
  
	
  
1	
  Mark	
  
7	
   10	
   9	
   Q.	
  Amit	
  and	
  Kartik.............................	
  share	
  of	
  goodwill.	
  
	
  
Ans.	
  	
  	
  	
  Normal	
  profits	
  =	
  12	
  	
  	
  X	
  	
  1,60,000	
  =	
  `19,200	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  100	
  
Average	
  profit	
  =	
  `	
  30,000	
  
Super	
  profit	
  =	
  ` 30,000	
  - `	
  19,200	
  =	
  ` 10,800	
  
	
  
Goodwill	
  =	
  `10,800	
  x	
  4	
  =	
  `43,200	
  
Saurabh	
  Share	
  of	
  Goodwill	
  =	
  `	
  43,200	
  x	
  1/3	
  =	
  `	
  14,400	
  
	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
=	
  
3marks	
  
8	
   7	
   7	
   Q.	
  	
  Navnirman	
  Ltd.......................................	
  these	
  entries.	
  
	
  
	
  
	
  
	
  
	
  
	
  
 
3	
  
	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  the	
  Madhur	
  Ltd.	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  
(`)	
  
Cr.	
  Amt.	
  	
  
(`	
  )	
  
	
  
	
  
	
  
	
  
(i)	
  	
  	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  ................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[First	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  2	
  per	
  
share]	
  
	
   8,00,000	
  
	
  
	
  
8,00,000	
  
	
   (ii)	
  	
  	
  Bank	
  A/c	
  .................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Arrear	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  advance	
  A/c	
  
	
  [	
  First	
  call	
  money	
  received	
  on	
  3,99,300	
  
shares	
  	
  along	
  with	
  final	
  call	
  on	
  6,000	
  shares	
  ]	
  
	
   8,16,600	
  
1,400	
  
	
  
	
  
8,00,000	
  
18,000	
  
	
   (iii)	
  	
  	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  	
  Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[	
  Final	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  3	
  per	
  
share]	
  
	
   12,00,000	
  
	
  
	
  
12,00,000	
  
	
   (iv)	
  	
  	
  Bank	
  A/c	
  ..........................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Advance	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  Arrear	
  A/c	
  
	
  [	
  Final	
  call	
  received	
  along	
  with	
  arrears	
  of	
  first	
  	
  	
  	
  	
  
	
  	
  	
  Call	
  and	
  calls	
  in	
  advance	
  adjusted]	
  	
  
	
   11,83,400	
  
18,000	
  
	
  
	
  
	
  
	
  
12,00,000	
  
1,400	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
1	
  
	
  
=	
  3	
  
marks	
  	
  	
  
9	
   8	
   10	
   Q.	
  	
  Janta	
  Ltd.	
  .......................................................notes	
  to	
  accounts.	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Balance	
  Sheet	
  of	
  	
  Janta	
  Ltd.	
  
As	
  at	
  ....................(As	
  per	
  revised	
  schedule	
  VI)	
  
Particulars	
  
Note	
  No.	
   Amount	
  (`)	
  
Current	
  year	
  
Amount	
  (`)	
  
Previous	
  year	
  
EQUITY	
  &	
  LIABILITIES	
  
I	
  	
  Shareholder’s	
  funds	
  :	
  
a) Share	
  Capital	
  
	
  
	
  
1	
  
	
  
	
  
5,79,600	
  
	
  
	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  -­--­--­--­--­--­--­--­-	
  
Notes	
  to	
  Accounts	
  :	
  
Particulars	
   (`)	
  
(1) Share	
  Capital	
  
Authorised	
  Capital	
  :	
  
2,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Issued	
  Capital	
  
1,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Subscribed	
  Capital	
  
Subscribed	
  but	
  not	
  fully	
  paid	
  	
  
96,400	
  shares	
  of	
  `	
  10	
  each,	
  `	
  6	
  called-­-up	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  Add	
  :	
  Forfeited	
  shares	
  A/c	
  
	
  
	
  
	
  
20,00,000	
  
	
  
	
  
10,00,000	
  
	
  
5,78,400	
  
1,200	
  
5,79,600	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  	
  
	
  
	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  
	
  
=3	
  
Marks	
  
	
  
 
4	
  
	
  
10	
   9	
   8	
   Q.	
  	
  Ajay,	
  Bhawna	
  and	
  Shreya.....................................	
  above	
  para.	
  
Ans.	
  	
  (a)	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (i)	
  	
  	
  Shreya’s	
  share	
  of	
  profit	
  =	
  	
  1,40,000	
  X	
  20/100	
  X1/5	
  =	
  ` 5,600	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (ii)	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  	
  	
  Ajay,	
  Bhawna	
  and	
  Shreya	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
July	
  1	
  
2017	
  
	
  	
  
(b)	
  	
  Profit	
  &	
  Loss	
  Suspense	
  A/c	
  ...............Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Shreya’s	
  Capital	
  A/c	
  
[	
  Shreya’s	
  share	
  of	
  profits	
  till	
  her	
  death	
  	
  	
  
	
  	
  	
  credited	
  to	
  her	
  A/c]	
  
	
   5,600	
   	
  
5,600	
  
	
  
(b)	
  Value	
  (any	
  one)	
  
(i) Empathy	
  
(ii) Concern	
  for	
  the	
  specially	
  abled	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (Or	
  any	
  other	
  suitable	
  value)	
  
	
  
	
  
1	
  	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
1	
  	
  
=3	
  
Marks	
  
	
  
11	
   12	
   11	
   Q.	
  	
  Rajiv	
  and	
  Sanjeev.......................................	
  clearly.	
  
Ans.	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  the	
  Rajiv	
  and	
  Sanjeev	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Date	
   Particulars	
   LF	
   	
  	
  Dr	
  (`)	
   	
  	
  Cr	
  (`)	
  
2017	
  
Apr	
  1	
  
Rajiv’s	
  Capital	
  A/c.........................	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Sanjeev’s	
  Capital	
  A/c	
  
[	
  Being	
  interest	
  on	
  Capital	
  omitted,	
  now	
  
rectified	
  ]	
  
	
   2,760	
   	
  
2,760	
  
Working:	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Past	
  Adjustment	
  Table	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Particulars	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Rajiv	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Sanjeev	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Total	
  
	
  	
  	
  Omission	
  of	
  IOC	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  5,400	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  4,800	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  10,200	
  (Dr.)	
  
	
  	
  	
  Profits	
  wrongly	
  distributed	
  	
  	
  	
  	
  	
  	
  52,000	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  8,000	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  60,000	
  (Cr.)	
  
	
  	
  	
  Profits	
  correctly	
  distributed	
  	
  	
  	
  	
  43,840	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  5,960	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  49,800	
  (Dr.)	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Net	
  Effect	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,760	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,760	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  00	
  	
  	
  	
  	
  	
  	
  	
  
	
  
In	
  case	
  a	
  student	
  has	
  presented	
  correct	
  working	
  in	
  any	
  other	
  form,	
  full	
  credit	
  may	
  be	
  given	
  
	
  
	
  
	
  
	
  
	
  
	
  
2	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
2	
  
	
  
=	
  
4	
  Marks	
  
12	
   11	
   12	
   Q	
  Venus	
  Ltd............................	
  by	
  	
  Venus	
  Ltd.	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  	
  Venus	
  Ltd	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr	
  (`)	
   Cr	
  (`)	
  
	
   (i)	
  Assets	
  A/c	
  ...............................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Liabilities	
  A/c	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Cayns	
  Ltd.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Capital	
  Reserve	
  A/c	
  
[	
  Business	
  purchased	
  from	
  Cayns	
  Ltd.]	
  
	
   10,00,000	
   	
  
1,80,000	
  
7,60,000	
  
60,000	
  
	
   (ii)	
  Cayns	
  Ltd............................................Dr.	
  
	
  	
  	
  	
  	
  	
  Discount	
  on	
  issue	
  of	
  Debentures	
  A/c.Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  9%	
  Debentures	
  A/c	
  
[	
  `8,00,000,	
  9%	
  Debentures	
  issued	
  at	
  a	
  
discount	
  of	
  5%]	
  
	
   7,60,000	
  
40,000	
  
	
  
	
  
8,00,000	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1½	
  
	
  
	
  
	
  
	
  
	
  
1½	
  
	
  
	
  
Page 5


	
  
 
1	
  
	
  
 
- -Strictly Confidential : (For Internal and Restricted Use Only) 
Senior School Certificate Examination 
July -2017-18 
Marking Scheme - Accountancy Compartment 67/1-2-3 
 
General Instructions:- 
 
1. Evaluation is to be done as per instructions provided in the Marking Scheme. It should not be done according to one's own 
interpretation or any other consideration. Marking-Scheme should be strictly adhered to and religiously followed. 
 
2. The Head-Examiner has to go through the first five answer scripts evaluated by each evaluator to ensure that evaluation has been 
carried out as per the instructions given in the Marking Scheme. The remaining answer scripts meant for evaluation shall be given 
only after ensuring that there is no significant variation in the marking of individual evaluators. 
 
3. If a question has parts, please award marks on the right hand side for each part. Marks awarded for different parts of the question 
should then be totalled up and written in the left hand margin and encircled. 
 
4. If a question does not have any parts, marks must be awarded in the left hand margin and encircled. 
 
5. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer 
scored out.  
 
6. No marks to be deducted for the cumulative effect of an error. It should be penalized only once. 
 
7. Deductions up to 25% of the marks must be made if the student has not drawn formats of the Journal and Ledger and has not given 
the narrations. 
 
8. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it. 
 
9. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts. 
 
10.  In theory questions, credit is to be given for the content and not for the format. 
 
11. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books. 
 
12. Avoid the following common types of errors committed by the Examiners in the past-. 
Ø? Leaving answer or part thereof unassessed  in an answer script 
Ø? Giving more marks for an answer than assigned to it or deviation from the marking scheme. 
Ø? Wrong transference of marks from the inside pages of the answer book to the title page. 
Ø? Wrong question wise totaling on the title page. 
Ø? Wrong totaling of marks of the two columns on the title page 
Ø? Wrong grand total 
Ø? Marks in words and figures not tallying 
Ø? Wrong transference to marks from the answer book to award list 
Ø? Answers marked as correct but marks not awarded. 
Ø? Half or a part of answer marked correct and the rest as wrong but no marks awarded. 
 
13. While evaluating the answer scripts if the answer is found to be totally incorrect, it should be marked as (x) and awarded zero(0) 
Marks. 
 
14. Any unassessed portion, non-carrying over of marks to the title page or totaling error detected by the candidate shall damage the 
prestige of all the personnel engaged in the evaluation work as also of the Board. Hence in order to uphold the prestige of all 
concerned, It is again reiterated that the instructions be followed meticulously and judiciously. 
 
15. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual 
evaluation. 
 
16. Every Examiner shall also ensure that all the answers are evaluated, marks carried over to the title page, correctly totaled and 
written in figures and words	
  
 
 
	
  
	
  
 
2	
  
	
  
Q.	
  Set	
  	
  No.	
   Marking	
  Scheme	
  Compartment	
  2017-­-18	
  
Accountancy	
  (055)	
  
	
   	
   	
   Delhi	
  –	
  67/1-­-2-­-3	
  
Expected	
  Answers	
  /	
  Value	
  points	
  
Distribution	
  
of	
  marks	
  
67/1	
   67/2	
   67/3	
  
1	
   4	
   6	
   Q.	
  Vinay	
  and	
  Naman................................goodwill?	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Amt.(`)	
  	
  	
  	
  	
  	
  	
  	
  
	
  Total	
  Capital	
  of	
  the	
  new	
  firm	
  (on	
  the	
  basis	
  of	
  Prateek’s	
  capital)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3,00,000	
  
Less:	
  Actual	
  Total	
  Capital	
  of	
  the	
  firm	
  	
  	
  	
  	
  (Vinay+Naman+Prateek)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,60,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Goodwill	
  of	
  the	
  firm	
   	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  40,000	
  
	
  
	
  
	
  
1	
  Mark	
  
2	
   6	
   4	
   Q.	
  	
  In	
  which	
  ratio.......................................deceased	
  partner?	
  
Ans.	
  The	
  remaining	
  partners	
  will	
  acquire	
  the	
  share	
  of	
  the	
  deceased	
  partner	
  in	
  Gaining	
  ratio.	
  
	
  
	
  
1	
  Mark	
  
3	
   5	
   2	
   Q.	
  	
  Give	
  the	
  ................................................partnership	
  firm.	
  	
  
Ans.	
  	
  .	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
	
   Partner’s	
  Capital	
  A/c	
  	
  	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  To	
  	
  Partner’s	
  Loan	
  A/c	
  
[Asset	
  side	
  loan	
  of	
  partner	
  transferred	
  to	
  
his	
  capital	
  account	
  on	
  dissolution	
  of	
  firm]	
  
	
   	
   	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
4	
   2	
   1	
   Q.	
  	
  Aman,Yatin............................................................Aman	
  and	
  Yatin.	
  
Ans.	
  	
  	
  Aman’s	
  Gain	
  =	
  5/8X	
  2/10=	
  5/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Yatin’s	
  Gain	
  =	
  	
  3/8	
  X	
  2/10=	
  3/40	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Gaining	
  Ratio	
  =	
  5:3	
  
	
  Note	
  :	
  	
  In	
  case	
  an	
  examinee	
  has	
  not	
  	
  shown	
  the	
  calculation	
  but	
  has	
  given	
  the	
  correct	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  answer,	
  full	
  credit	
  may	
  be	
  given.	
  
	
  
	
  
	
  
	
  
	
  
1	
  Mark	
  
5	
   3	
   5	
   Q.	
  	
  Give	
  two	
  items..............................................	
  Current	
  Account.	
  
Ans.	
  	
  	
  (any	
  two)	
  
1.	
  Drawings	
  
2.	
  Interest	
  on	
  drawings.	
  
3.	
  Share	
  of	
  loss	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  	
  
=1	
  Mark	
  
6	
   1	
   3	
   Q.	
  	
  What	
  is	
  meant......................................	
  Shares’?	
  
Ans.	
  	
  Private	
  placement	
  of	
  shares	
  means	
  any	
  offer	
  of	
  securities	
  or	
  invitation	
  by	
  a	
  company	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  to	
  subscribe	
  for	
  securities	
  to	
  some	
  selected	
  individuals	
  and	
  institutional	
  investors.	
  
	
  
	
  
	
  
1	
  Mark	
  
7	
   10	
   9	
   Q.	
  Amit	
  and	
  Kartik.............................	
  share	
  of	
  goodwill.	
  
	
  
Ans.	
  	
  	
  	
  Normal	
  profits	
  =	
  12	
  	
  	
  X	
  	
  1,60,000	
  =	
  `19,200	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  100	
  
Average	
  profit	
  =	
  `	
  30,000	
  
Super	
  profit	
  =	
  ` 30,000	
  - `	
  19,200	
  =	
  ` 10,800	
  
	
  
Goodwill	
  =	
  `10,800	
  x	
  4	
  =	
  `43,200	
  
Saurabh	
  Share	
  of	
  Goodwill	
  =	
  `	
  43,200	
  x	
  1/3	
  =	
  `	
  14,400	
  
	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
=	
  
3marks	
  
8	
   7	
   7	
   Q.	
  	
  Navnirman	
  Ltd.......................................	
  these	
  entries.	
  
	
  
	
  
	
  
	
  
	
  
	
  
 
3	
  
	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  the	
  Madhur	
  Ltd.	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  
(`)	
  
Cr.	
  Amt.	
  	
  
(`	
  )	
  
	
  
	
  
	
  
	
  
(i)	
  	
  	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  ................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[First	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  2	
  per	
  
share]	
  
	
   8,00,000	
  
	
  
	
  
8,00,000	
  
	
   (ii)	
  	
  	
  Bank	
  A/c	
  .................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Arrear	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  first	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  advance	
  A/c	
  
	
  [	
  First	
  call	
  money	
  received	
  on	
  3,99,300	
  
shares	
  	
  along	
  with	
  final	
  call	
  on	
  6,000	
  shares	
  ]	
  
	
   8,16,600	
  
1,400	
  
	
  
	
  
8,00,000	
  
18,000	
  
	
   (iii)	
  	
  	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  	
  Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  Capital	
  A/c	
  
[	
  Final	
  call	
  due	
  on	
  4	
  ,00,000	
  shares	
  @	
  `	
  3	
  per	
  
share]	
  
	
   12,00,000	
  
	
  
	
  
12,00,000	
  
	
   (iv)	
  	
  	
  Bank	
  A/c	
  ..........................................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  Calls	
  in	
  Advance	
  A/c.........................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Equity	
  Share	
  second	
  &	
  final	
  call	
  A/c	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Calls	
  in	
  Arrear	
  A/c	
  
	
  [	
  Final	
  call	
  received	
  along	
  with	
  arrears	
  of	
  first	
  	
  	
  	
  	
  
	
  	
  	
  Call	
  and	
  calls	
  in	
  advance	
  adjusted]	
  	
  
	
   11,83,400	
  
18,000	
  
	
  
	
  
	
  
	
  
12,00,000	
  
1,400	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
1	
  
	
  
=	
  3	
  
marks	
  	
  	
  
9	
   8	
   10	
   Q.	
  	
  Janta	
  Ltd.	
  .......................................................notes	
  to	
  accounts.	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Balance	
  Sheet	
  of	
  	
  Janta	
  Ltd.	
  
As	
  at	
  ....................(As	
  per	
  revised	
  schedule	
  VI)	
  
Particulars	
  
Note	
  No.	
   Amount	
  (`)	
  
Current	
  year	
  
Amount	
  (`)	
  
Previous	
  year	
  
EQUITY	
  &	
  LIABILITIES	
  
I	
  	
  Shareholder’s	
  funds	
  :	
  
a) Share	
  Capital	
  
	
  
	
  
1	
  
	
  
	
  
5,79,600	
  
	
  
	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  -­--­--­--­--­--­--­--­-	
  
Notes	
  to	
  Accounts	
  :	
  
Particulars	
   (`)	
  
(1) Share	
  Capital	
  
Authorised	
  Capital	
  :	
  
2,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Issued	
  Capital	
  
1,00,000	
  equity	
  shares	
  of	
  `	
  10	
  each	
  
Subscribed	
  Capital	
  
Subscribed	
  but	
  not	
  fully	
  paid	
  	
  
96,400	
  shares	
  of	
  `	
  10	
  each,	
  `	
  6	
  called-­-up	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  Add	
  :	
  Forfeited	
  shares	
  A/c	
  
	
  
	
  
	
  
20,00,000	
  
	
  
	
  
10,00,000	
  
	
  
5,78,400	
  
1,200	
  
5,79,600	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  	
  
	
  
	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  	
  
	
  
	
  
½	
  +	
  ½	
  	
  
	
  
=3	
  
Marks	
  
	
  
 
4	
  
	
  
10	
   9	
   8	
   Q.	
  	
  Ajay,	
  Bhawna	
  and	
  Shreya.....................................	
  above	
  para.	
  
Ans.	
  	
  (a)	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (i)	
  	
  	
  Shreya’s	
  share	
  of	
  profit	
  =	
  	
  1,40,000	
  X	
  20/100	
  X1/5	
  =	
  ` 5,600	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (ii)	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  	
  	
  Ajay,	
  Bhawna	
  and	
  Shreya	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr.	
  Amt.	
  (`)	
   Cr.	
  Amt.	
  (`)	
  
July	
  1	
  
2017	
  
	
  	
  
(b)	
  	
  Profit	
  &	
  Loss	
  Suspense	
  A/c	
  ...............Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Shreya’s	
  Capital	
  A/c	
  
[	
  Shreya’s	
  share	
  of	
  profits	
  till	
  her	
  death	
  	
  	
  
	
  	
  	
  credited	
  to	
  her	
  A/c]	
  
	
   5,600	
   	
  
5,600	
  
	
  
(b)	
  Value	
  (any	
  one)	
  
(i) Empathy	
  
(ii) Concern	
  for	
  the	
  specially	
  abled	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (Or	
  any	
  other	
  suitable	
  value)	
  
	
  
	
  
1	
  	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
1	
  	
  
=3	
  
Marks	
  
	
  
11	
   12	
   11	
   Q.	
  	
  Rajiv	
  and	
  Sanjeev.......................................	
  clearly.	
  
Ans.	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  the	
  Rajiv	
  and	
  Sanjeev	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Journal	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
Date	
   Particulars	
   LF	
   	
  	
  Dr	
  (`)	
   	
  	
  Cr	
  (`)	
  
2017	
  
Apr	
  1	
  
Rajiv’s	
  Capital	
  A/c.........................	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Sanjeev’s	
  Capital	
  A/c	
  
[	
  Being	
  interest	
  on	
  Capital	
  omitted,	
  now	
  
rectified	
  ]	
  
	
   2,760	
   	
  
2,760	
  
Working:	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Past	
  Adjustment	
  Table	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Particulars	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Rajiv	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Sanjeev	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Total	
  
	
  	
  	
  Omission	
  of	
  IOC	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  5,400	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  4,800	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  10,200	
  (Dr.)	
  
	
  	
  	
  Profits	
  wrongly	
  distributed	
  	
  	
  	
  	
  	
  	
  52,000	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  8,000	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  60,000	
  (Cr.)	
  
	
  	
  	
  Profits	
  correctly	
  distributed	
  	
  	
  	
  	
  43,840	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  5,960	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  49,800	
  (Dr.)	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Net	
  Effect	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,760	
  (Dr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2,760	
  (Cr.)	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  00	
  	
  	
  	
  	
  	
  	
  	
  
	
  
In	
  case	
  a	
  student	
  has	
  presented	
  correct	
  working	
  in	
  any	
  other	
  form,	
  full	
  credit	
  may	
  be	
  given	
  
	
  
	
  
	
  
	
  
	
  
	
  
2	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
2	
  
	
  
=	
  
4	
  Marks	
  
12	
   11	
   12	
   Q	
  Venus	
  Ltd............................	
  by	
  	
  Venus	
  Ltd.	
  
Ans.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Books	
  of	
  	
  Venus	
  Ltd	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr	
  (`)	
   Cr	
  (`)	
  
	
   (i)	
  Assets	
  A/c	
  ...............................Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Liabilities	
  A/c	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  Cayns	
  Ltd.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  Capital	
  Reserve	
  A/c	
  
[	
  Business	
  purchased	
  from	
  Cayns	
  Ltd.]	
  
	
   10,00,000	
   	
  
1,80,000	
  
7,60,000	
  
60,000	
  
	
   (ii)	
  Cayns	
  Ltd............................................Dr.	
  
	
  	
  	
  	
  	
  	
  Discount	
  on	
  issue	
  of	
  Debentures	
  A/c.Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  9%	
  Debentures	
  A/c	
  
[	
  `8,00,000,	
  9%	
  Debentures	
  issued	
  at	
  a	
  
discount	
  of	
  5%]	
  
	
   7,60,000	
  
40,000	
  
	
  
	
  
8,00,000	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1½	
  
	
  
	
  
	
  
	
  
	
  
1½	
  
	
  
	
  
	
  
 
5	
  
	
  
(b)	
  Value	
  (any	
  one)	
  
(i) Sympathy	
  towards	
  the	
  homeless	
  
(ii) Social	
  Responsibility	
  /	
  Concern	
  for	
  society	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (Or	
  any	
  other	
  suitable	
  value)	
  
	
  
	
  
1	
  	
  
=	
  
4	
  Marks	
  
	
  
13	
   14	
   15	
   Q.	
  Boots	
  Ltd...............................................	
  workings	
  clearly.	
  
Ans.	
  	
  
	
  Books	
  of	
  Boots	
  Ltd	
  	
  
Journal	
  
Date	
   Particulars	
   LF	
   Dr	
  (`)	
   Cr	
  (`)	
  
	
   Bank	
  A/c	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Dr.	
  
	
  	
  	
  	
  	
  To	
  8	
  %	
  Debenture	
  Application	
  &	
  Allotment	
  A/c	
  
	
  [Applications	
  received	
  for	
  `6,00,000	
  8%	
  	
  	
  
	
  	
  	
  debentures	
  issued	
  at	
  6%	
  discount	
  ]	
  
	
   5,64,000	
   	
  
5,64,000	
  
	
  
	
  
8%	
  Debenture	
  Application	
  &	
  Allotment	
  A/c........	
  	
  Dr.	
  
Discount	
  on	
  Issue	
  of	
  Debentures	
  A/c.....	
  Dr.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  To	
  	
  8	
  %	
  Debentures	
  A/c	
  	
  
[Allotment	
  of	
  	
  `6,00,000	
  8%	
  debentures	
  
issued	
  at	
  6%	
  discount]	
  
	
   5,64,000	
  
36,000	
  
	
  
	
  
	
  
6,00,000	
  
	
  	
  	
  
	
  Dr.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Discount	
  on	
  issue	
  of	
  Debentures	
  A/c	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Cr.	
  
Date	
   Particulars	
   Amt	
  (`)	
   Date	
   Particulars	
  	
   Amt	
  (`)	
  
	
   	
  To	
  8%	
  Debentures	
  A/c	
   36,000	
   	
   By	
  Statement	
  of	
  P&	
  L	
  
By	
  Balance	
  c/d	
  
14,400	
  
21,600	
  
	
   	
   36,000	
   	
   	
   36,000	
  
	
   	
  To	
  Balance	
  b/d	
   21,600	
   	
   By	
  Statement	
  of	
  P&	
  L	
  
By	
  Balance	
  c/d	
  
10,800	
  
10,800	
  
	
   	
   21,600	
   	
   	
   21,600	
  
	
   	
  To	
  Balance	
  b/d	
   10,800	
   	
   By	
  Statement	
  of	
  P&	
  L	
  
By	
  Balance	
  c/d	
  
7,200	
  
3,600	
  
	
   	
   10,800	
   	
   	
   10,800	
  
	
   	
  To	
  Balance	
  b/d	
   3,600	
   	
   By	
  Statement	
  of	
  P&	
  L	
  
	
  
3,600	
  
	
   	
   3,600	
   	
   	
   3,600	
  
	
  
Working:	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Calculation	
  of	
  Discount	
  to	
  be	
  written	
  off	
  
	
  
YEAR	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  DEBENTURES	
  O/S	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  RATIO	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  DISCOUNT	
  W/O	
  	
  
	
  	
  	
  1
st
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  6,00,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  4	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  36,000	
  x	
  4/10	
  =	
  14,400	
  
	
  	
  	
  2
nd
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  4,50,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  36,000	
  x	
  3/10	
  =	
  10,800	
  
	
  	
  	
  3
rd
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  3,00,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  2	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  36,000	
  x	
  2/10	
  =	
  	
  7,200	
  
	
  	
  	
  4
th
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  1,50,000	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  1	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  36,000	
  x	
  1/10	
  =	
  	
  3,600	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
1	
  
	
  
	
  
½	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
	
  
1	
  
=	
  
6	
  Marks	
  
14	
   15	
   13	
   Q.	
  	
  	
  Girija	
  and	
  Ganesh..............................................	
  Bank	
  Account.	
  
Ans.