Page 1
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2016-17
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
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-.
? Leaving answer or part thereof unassessed in an answer script
? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
? Wrong transference of marks from the inside pages of the answer book to the title page.
? Wrong question wise totaling on the title page.
? Wrong totaling of marks of the two columns on the title page
? Wrong grand total
? Marks in words and figures not tallying
? Wrong transference to marks from the answer book to award list
? Answers marked as correct but marks not awarded.
? 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
March -2016-17
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
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-.
? Leaving answer or part thereof unassessed in an answer script
? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
? Wrong transference of marks from the inside pages of the answer book to the title page.
? Wrong question wise totaling on the title page.
? Wrong totaling of marks of the two columns on the title page
? Wrong grand total
? Marks in words and figures not tallying
? Wrong transference to marks from the answer book to award list
? Answers marked as correct but marks not awarded.
? 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 2016-17
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 6 5 Q. Distinguish between...................credit balance.
Ans. Fixed Capital Accounts always show a credit balance while fluctuating capital accounts
may show credit or debit balance.
=1 Mark
2 5 6 Q. A and B.........................B’s sacrifice.
Ans. A’s Old Share = 5/8
A’s Sacrifice = 1/5 of 5/8 = 1/8
C’s Share = 3/8
B’s Sacrifice = C’s share – A’s sacrifice = 3/8 – 1/8 = 2/8
OR
B’s Old Share = 3/8
B’s new share = 2/8
B’s Sacrifice = 3/8 – 2/8 = 1/8
=1 Mark
3 4 1 Q. P and Q were........................rectify the error.
Ans.
Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
April 1
P’s Current A/c Dr.
To Q’s current A/c
( Being the adjustment of interest on
capital omitted in previous year)
6,000
6,000
=1 Mark
4 3 2 Q. X Ltd. invited............................with applicants.
Ans. Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
Jan 1
Bank A/c Dr.
To 12% Debenture Application & Allotment A/c
( Being application money received for 600
debentures @ ` 95 each)
57,000
57,000
2016
Jan 1
12% Debenture Application & Allotment A/cDr.
Discount on Issue of Debentures A/c Dr.
To 12 % Debentures A/c
To Bank A/c
(Being 500, 12% debentures allotted on
pro-rata basis)
57,000
2,500
50,000
9,500
½
½
=1 Mark
=1 Mark
6 1 4 Q. Durga and Naresh.......................by them.
Ans. Any two of the following:
? Persons of unsound mind / Lunatics
? Insolvent persons
? Any other individual who have been disqualified by law
½ x 2
=1 Mark
7 10 10 Q. BPL Ltd.............................. equity shares.
Ans.
5 2 3 Q. Z Ltd..................................... can be re-issued.
Ans. The maximum amount of discount at which these shares can be re-issued is `5 per
share or ` 5000.
Page 3
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2016-17
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
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-.
? Leaving answer or part thereof unassessed in an answer script
? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
? Wrong transference of marks from the inside pages of the answer book to the title page.
? Wrong question wise totaling on the title page.
? Wrong totaling of marks of the two columns on the title page
? Wrong grand total
? Marks in words and figures not tallying
? Wrong transference to marks from the answer book to award list
? Answers marked as correct but marks not awarded.
? 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 2016-17
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 6 5 Q. Distinguish between...................credit balance.
Ans. Fixed Capital Accounts always show a credit balance while fluctuating capital accounts
may show credit or debit balance.
=1 Mark
2 5 6 Q. A and B.........................B’s sacrifice.
Ans. A’s Old Share = 5/8
A’s Sacrifice = 1/5 of 5/8 = 1/8
C’s Share = 3/8
B’s Sacrifice = C’s share – A’s sacrifice = 3/8 – 1/8 = 2/8
OR
B’s Old Share = 3/8
B’s new share = 2/8
B’s Sacrifice = 3/8 – 2/8 = 1/8
=1 Mark
3 4 1 Q. P and Q were........................rectify the error.
Ans.
Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
April 1
P’s Current A/c Dr.
To Q’s current A/c
( Being the adjustment of interest on
capital omitted in previous year)
6,000
6,000
=1 Mark
4 3 2 Q. X Ltd. invited............................with applicants.
Ans. Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
Jan 1
Bank A/c Dr.
To 12% Debenture Application & Allotment A/c
( Being application money received for 600
debentures @ ` 95 each)
57,000
57,000
2016
Jan 1
12% Debenture Application & Allotment A/cDr.
Discount on Issue of Debentures A/c Dr.
To 12 % Debentures A/c
To Bank A/c
(Being 500, 12% debentures allotted on
pro-rata basis)
57,000
2,500
50,000
9,500
½
½
=1 Mark
=1 Mark
6 1 4 Q. Durga and Naresh.......................by them.
Ans. Any two of the following:
? Persons of unsound mind / Lunatics
? Insolvent persons
? Any other individual who have been disqualified by law
½ x 2
=1 Mark
7 10 10 Q. BPL Ltd.............................. equity shares.
Ans.
5 2 3 Q. Z Ltd..................................... can be re-issued.
Ans. The maximum amount of discount at which these shares can be re-issued is `5 per
share or ` 5000.
3
BPL Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
9% Debentures A/c Dr.
To Debenture holders A/c
To Discount on issue of debentures A/c
(Being amount payable to debenture holders
on conversion)
50,000
47,000
3,000
Debenture holders A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being 9% debentures converted into equity
shares)
47,000
37,600
9,400
Working Notes:
Number of equity shares to be issued = 47000/125 = 376 shares
1
1
1
=
3 Marks
8 9 7 Q. Kavi, Ravi, Kumar ........................ Guru’s retirement.
Ans.
Books of the firm
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
2017
Jan 31
Kavi’s Capital A/c Dr.
To Ravi’s Capital A/c
To Kumar’s Capital A/c
To Guru’s Capital A/c
(Being adjustment of Goodwill on Guru’s
retirement)
81,000
18,000
18,000
45,000
Working Notes:
1. Calculation of Gaining Ratio:
Kavi Ravi Kumar Guru
New Ratio 3/5 1/5 1/5 -
Old Ratio 3/8 2/8 2/8 1/8
9/40 (Gain) 2/40 (Sacrifice) 2/40 (Sacrifice) 1/8 (Sacrifice)
2
1
=
3 Marks
9 8 8 Q. Disha Ltd. Purchased.........................Nisha Ltd.
Ans.
Disha Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
(i) Machinery A/c Dr.
To Nisha Ltd.
(Being machinery purchased from Nisha Ltd.)
1,78,000
1,78,000
(ii) Nisha Ltd. Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
( Being 10,000 equity shares of ` 10 each
issued at 10% premium)
1,10,000
1,00,000
10,000
½
1
Page 4
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2016-17
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
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-.
? Leaving answer or part thereof unassessed in an answer script
? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
? Wrong transference of marks from the inside pages of the answer book to the title page.
? Wrong question wise totaling on the title page.
? Wrong totaling of marks of the two columns on the title page
? Wrong grand total
? Marks in words and figures not tallying
? Wrong transference to marks from the answer book to award list
? Answers marked as correct but marks not awarded.
? 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 2016-17
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 6 5 Q. Distinguish between...................credit balance.
Ans. Fixed Capital Accounts always show a credit balance while fluctuating capital accounts
may show credit or debit balance.
=1 Mark
2 5 6 Q. A and B.........................B’s sacrifice.
Ans. A’s Old Share = 5/8
A’s Sacrifice = 1/5 of 5/8 = 1/8
C’s Share = 3/8
B’s Sacrifice = C’s share – A’s sacrifice = 3/8 – 1/8 = 2/8
OR
B’s Old Share = 3/8
B’s new share = 2/8
B’s Sacrifice = 3/8 – 2/8 = 1/8
=1 Mark
3 4 1 Q. P and Q were........................rectify the error.
Ans.
Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
April 1
P’s Current A/c Dr.
To Q’s current A/c
( Being the adjustment of interest on
capital omitted in previous year)
6,000
6,000
=1 Mark
4 3 2 Q. X Ltd. invited............................with applicants.
Ans. Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
Jan 1
Bank A/c Dr.
To 12% Debenture Application & Allotment A/c
( Being application money received for 600
debentures @ ` 95 each)
57,000
57,000
2016
Jan 1
12% Debenture Application & Allotment A/cDr.
Discount on Issue of Debentures A/c Dr.
To 12 % Debentures A/c
To Bank A/c
(Being 500, 12% debentures allotted on
pro-rata basis)
57,000
2,500
50,000
9,500
½
½
=1 Mark
=1 Mark
6 1 4 Q. Durga and Naresh.......................by them.
Ans. Any two of the following:
? Persons of unsound mind / Lunatics
? Insolvent persons
? Any other individual who have been disqualified by law
½ x 2
=1 Mark
7 10 10 Q. BPL Ltd.............................. equity shares.
Ans.
5 2 3 Q. Z Ltd..................................... can be re-issued.
Ans. The maximum amount of discount at which these shares can be re-issued is `5 per
share or ` 5000.
3
BPL Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
9% Debentures A/c Dr.
To Debenture holders A/c
To Discount on issue of debentures A/c
(Being amount payable to debenture holders
on conversion)
50,000
47,000
3,000
Debenture holders A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being 9% debentures converted into equity
shares)
47,000
37,600
9,400
Working Notes:
Number of equity shares to be issued = 47000/125 = 376 shares
1
1
1
=
3 Marks
8 9 7 Q. Kavi, Ravi, Kumar ........................ Guru’s retirement.
Ans.
Books of the firm
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
2017
Jan 31
Kavi’s Capital A/c Dr.
To Ravi’s Capital A/c
To Kumar’s Capital A/c
To Guru’s Capital A/c
(Being adjustment of Goodwill on Guru’s
retirement)
81,000
18,000
18,000
45,000
Working Notes:
1. Calculation of Gaining Ratio:
Kavi Ravi Kumar Guru
New Ratio 3/5 1/5 1/5 -
Old Ratio 3/8 2/8 2/8 1/8
9/40 (Gain) 2/40 (Sacrifice) 2/40 (Sacrifice) 1/8 (Sacrifice)
2
1
=
3 Marks
9 8 8 Q. Disha Ltd. Purchased.........................Nisha Ltd.
Ans.
Disha Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
(i) Machinery A/c Dr.
To Nisha Ltd.
(Being machinery purchased from Nisha Ltd.)
1,78,000
1,78,000
(ii) Nisha Ltd. Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
( Being 10,000 equity shares of ` 10 each
issued at 10% premium)
1,10,000
1,00,000
10,000
½
1
4
(iii) Nisha Ltd. Dr.
Discount on Issue of Debentures A/c Dr.
To 9% Debentures A/c
(Being 200 9% debentures of ` 100 each issued
at 10% discount)
18,000
2,000
20,000
(iv) Nisha Ltd. Dr.
To Bills Payable A/c
(Being balance payment made by accepting
one month bill of exchange)
50,000
50,000
OR
Disha Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
(i) Machinery A/c Dr.
To Nisha Ltd.
(Being machinery purchased from Nisha Ltd.)
1,78,000
1,78,000
(ii) Nisha Ltd. Dr.
Discount on Issue of Debentures A/c Dr.
To Equity Share Capital A/c
To 9% Debentures A/c
To Bills Payable A/c
To Securities Premium Reserve A/c
(Being payment made to Nisha Ltd.)
1,78,000
2,000
1,00,000
20,000
50,000
10,000
Working Notes:
Purchase Consideration = 1,10,000 + 18,000 + 50,000 = ` 1,78,000
1
½
½
2 ½
=
3 Marks
10 7 9 Q. Ganesh Ltd. Is.......................... to propagate.
Ans.
Balance Sheet of Ganesh 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
6,09,96,000
Notes to Accounts :
Particulars (`)
(1) Share Capital
Authorised Capital :
1,00,00,000 equity shares of `10 each
Issued Capital
61,00,000 equity shares of ` 10 each
Subscribed Capital
Subscribed and fully paid
60,98,000 shares of `10 each 6,09,80,000
Subscribed but not fully paid
2,000 equity shares of 10 each 20,000
Less: Calls in arrears ( 2,000 X 2) 4,000 16,000
10,00,00,000
6,10,00,000
6,09,96,000
½
½
½
½
Page 5
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2016-17
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
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-.
? Leaving answer or part thereof unassessed in an answer script
? Giving more marks for an answer than assigned to it or deviation from the marking scheme.
? Wrong transference of marks from the inside pages of the answer book to the title page.
? Wrong question wise totaling on the title page.
? Wrong totaling of marks of the two columns on the title page
? Wrong grand total
? Marks in words and figures not tallying
? Wrong transference to marks from the answer book to award list
? Answers marked as correct but marks not awarded.
? 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 2016-17
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 6 5 Q. Distinguish between...................credit balance.
Ans. Fixed Capital Accounts always show a credit balance while fluctuating capital accounts
may show credit or debit balance.
=1 Mark
2 5 6 Q. A and B.........................B’s sacrifice.
Ans. A’s Old Share = 5/8
A’s Sacrifice = 1/5 of 5/8 = 1/8
C’s Share = 3/8
B’s Sacrifice = C’s share – A’s sacrifice = 3/8 – 1/8 = 2/8
OR
B’s Old Share = 3/8
B’s new share = 2/8
B’s Sacrifice = 3/8 – 2/8 = 1/8
=1 Mark
3 4 1 Q. P and Q were........................rectify the error.
Ans.
Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
April 1
P’s Current A/c Dr.
To Q’s current A/c
( Being the adjustment of interest on
capital omitted in previous year)
6,000
6,000
=1 Mark
4 3 2 Q. X Ltd. invited............................with applicants.
Ans. Books of the firm
Journal
Date Particulars LF Dr (`) Cr (`)
2016
Jan 1
Bank A/c Dr.
To 12% Debenture Application & Allotment A/c
( Being application money received for 600
debentures @ ` 95 each)
57,000
57,000
2016
Jan 1
12% Debenture Application & Allotment A/cDr.
Discount on Issue of Debentures A/c Dr.
To 12 % Debentures A/c
To Bank A/c
(Being 500, 12% debentures allotted on
pro-rata basis)
57,000
2,500
50,000
9,500
½
½
=1 Mark
=1 Mark
6 1 4 Q. Durga and Naresh.......................by them.
Ans. Any two of the following:
? Persons of unsound mind / Lunatics
? Insolvent persons
? Any other individual who have been disqualified by law
½ x 2
=1 Mark
7 10 10 Q. BPL Ltd.............................. equity shares.
Ans.
5 2 3 Q. Z Ltd..................................... can be re-issued.
Ans. The maximum amount of discount at which these shares can be re-issued is `5 per
share or ` 5000.
3
BPL Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
9% Debentures A/c Dr.
To Debenture holders A/c
To Discount on issue of debentures A/c
(Being amount payable to debenture holders
on conversion)
50,000
47,000
3,000
Debenture holders A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being 9% debentures converted into equity
shares)
47,000
37,600
9,400
Working Notes:
Number of equity shares to be issued = 47000/125 = 376 shares
1
1
1
=
3 Marks
8 9 7 Q. Kavi, Ravi, Kumar ........................ Guru’s retirement.
Ans.
Books of the firm
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
2017
Jan 31
Kavi’s Capital A/c Dr.
To Ravi’s Capital A/c
To Kumar’s Capital A/c
To Guru’s Capital A/c
(Being adjustment of Goodwill on Guru’s
retirement)
81,000
18,000
18,000
45,000
Working Notes:
1. Calculation of Gaining Ratio:
Kavi Ravi Kumar Guru
New Ratio 3/5 1/5 1/5 -
Old Ratio 3/8 2/8 2/8 1/8
9/40 (Gain) 2/40 (Sacrifice) 2/40 (Sacrifice) 1/8 (Sacrifice)
2
1
=
3 Marks
9 8 8 Q. Disha Ltd. Purchased.........................Nisha Ltd.
Ans.
Disha Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
(i) Machinery A/c Dr.
To Nisha Ltd.
(Being machinery purchased from Nisha Ltd.)
1,78,000
1,78,000
(ii) Nisha Ltd. Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
( Being 10,000 equity shares of ` 10 each
issued at 10% premium)
1,10,000
1,00,000
10,000
½
1
4
(iii) Nisha Ltd. Dr.
Discount on Issue of Debentures A/c Dr.
To 9% Debentures A/c
(Being 200 9% debentures of ` 100 each issued
at 10% discount)
18,000
2,000
20,000
(iv) Nisha Ltd. Dr.
To Bills Payable A/c
(Being balance payment made by accepting
one month bill of exchange)
50,000
50,000
OR
Disha Ltd.
Journal
Date Particulars LF Dr. Amt
(`)
Cr. Amt
(`)
(i) Machinery A/c Dr.
To Nisha Ltd.
(Being machinery purchased from Nisha Ltd.)
1,78,000
1,78,000
(ii) Nisha Ltd. Dr.
Discount on Issue of Debentures A/c Dr.
To Equity Share Capital A/c
To 9% Debentures A/c
To Bills Payable A/c
To Securities Premium Reserve A/c
(Being payment made to Nisha Ltd.)
1,78,000
2,000
1,00,000
20,000
50,000
10,000
Working Notes:
Purchase Consideration = 1,10,000 + 18,000 + 50,000 = ` 1,78,000
1
½
½
2 ½
=
3 Marks
10 7 9 Q. Ganesh Ltd. Is.......................... to propagate.
Ans.
Balance Sheet of Ganesh 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
6,09,96,000
Notes to Accounts :
Particulars (`)
(1) Share Capital
Authorised Capital :
1,00,00,000 equity shares of `10 each
Issued Capital
61,00,000 equity shares of ` 10 each
Subscribed Capital
Subscribed and fully paid
60,98,000 shares of `10 each 6,09,80,000
Subscribed but not fully paid
2,000 equity shares of 10 each 20,000
Less: Calls in arrears ( 2,000 X 2) 4,000 16,000
10,00,00,000
6,10,00,000
6,09,96,000
½
½
½
½
5
Values (Any two):
? Providing employment opportunities to the local youth.
? Promotion of development in tribal areas.
? Promotion of skill development in Arunachal Pradesh.
? Paying attention towards regions of social unrest.
(Or any other suitable value)
½ + ½
=3 Marks
11 12 11 Q. Madhu and Neha....................... premium in cash.
Ans.
(a) Calculation of Hidden Goodwill:
Tina’s share = ¼
Tina’s Capital = ` 4,00,000
(a) Total capital of the new firm = 4,00,000 X 4 = 16,00,000
(b) Existing total capital of Madhu, Neha and Tina = ` 4,00,000 + ` 6,00 000 + ` 4,00,000
= ` 14,00,000
Goodwill of the firm = 16,00,000-14,00,000 = 2,00,000
Thus, Tina’s share of goodwill = ¼ X 2,00,000 = 50,000
(b) Calculation of New Profit Sharing ratio :
Madhu’s new share = 3/8
Neha’s new share = 5/8 - 1/4 = 3/8
Tina’s share = ¼ i.e. 2/8
New Ratio = 3:3:2
(c)
Books of the firm
Dr. Journal Cr.
Date Particulars LF Dr (`) Cr (`)
2016
Apr 1
Tina’s Current A/c Dr.
To Neha’s Current A/c
(Being credit given for goodwill to Neha on
Tina’s admission)
50,000
50,000
1
1
2
=
4 Marks
12 11 12 Q. Ashok, Babu and Chetan.......................... Capital Account.
Ans.
Ashok’s Capital A/c
Dr Cr
Date Particulars Amt (`) Date Particulars Amt (`)
2016
Dec 31
Dec 31
Dec 31
To Drawings A/c
To Interest on
Drawings A/c
To Ashok’s
Executor’s A/c
15,000
1,500
3,01,600
2016
April 1
Dec 31
Dec 31
Dec 31
Dec 31
By Balance b/d
By Interest on
Capital A/c
By P & L Suspense
A/c
By Babu’s Capital
A/c
By Chetan’s Capital
A/c
90,000
8,100
40,000
90,000
90,000
3,18,100 3,18,100
½ X 8
=
4 Marks
13 - - Q. A, B, C and D.......................... reconstituted firm.
Ans.
½
½
½
½
½
½
½
½
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