Page 1
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2015-16
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
General Instructions:-
1. The Marking scheme provides general guidelines to reduce subjectivity in the marking. The answers for theory questions given in the
marking scheme are suggested answers. The content is thus indicative. If a student has given any other answer which is different from
the one given in the marking scheme but conveys the same meaning, such answers should be given full weightage.
2. 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.
3. 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.
4. 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.
5. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
6. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
7. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
8. 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.
9. In theory questions, credit is to be given for the content and not for the format.
10. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
11. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
12. In compliance to the judgment of the Hon’ble Supreme Court of India, Board has decided to provide photocopy of the answer
book(s) to the candidates who will apply for it along with the requisite fee from 2012 examination. Therefore, it is all the more
important that the evaluation is done strictly as per the value points given in the marking scheme so that the Board could be in a
position to defend the evaluation at any forum.
13. In the light of the above judgment instructions have been incorporated in the guidelines for Centre Superintendents to ensure that the
answer books of all the appeared candidates have been sent to the Board’s office and in the Guidelines for spot evaluation for the
Examiners that they have to evaluate the answer books strictly in accordance with the value points given in the marking scheme and
the correct set of the question paper. The examiner(s) shall also have to certify this.
14. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
15. In the past it has been observed that the following are the common types of errors committed by the Examiners-.
? 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.
16. 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.
17. 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.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual
evaluation.
19. 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 -2015-16
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
General Instructions:-
1. The Marking scheme provides general guidelines to reduce subjectivity in the marking. The answers for theory questions given in the
marking scheme are suggested answers. The content is thus indicative. If a student has given any other answer which is different from
the one given in the marking scheme but conveys the same meaning, such answers should be given full weightage.
2. 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.
3. 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.
4. 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.
5. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
6. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
7. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
8. 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.
9. In theory questions, credit is to be given for the content and not for the format.
10. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
11. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
12. In compliance to the judgment of the Hon’ble Supreme Court of India, Board has decided to provide photocopy of the answer
book(s) to the candidates who will apply for it along with the requisite fee from 2012 examination. Therefore, it is all the more
important that the evaluation is done strictly as per the value points given in the marking scheme so that the Board could be in a
position to defend the evaluation at any forum.
13. In the light of the above judgment instructions have been incorporated in the guidelines for Centre Superintendents to ensure that the
answer books of all the appeared candidates have been sent to the Board’s office and in the Guidelines for spot evaluation for the
Examiners that they have to evaluate the answer books strictly in accordance with the value points given in the marking scheme and
the correct set of the question paper. The examiner(s) shall also have to certify this.
14. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
15. In the past it has been observed that the following are the common types of errors committed by the Examiners-.
? 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.
16. 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.
17. 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.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual
evaluation.
19. 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 2015-16
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 5 6 Q. A group........................it is given.
Ans.
? Maximum number of partners : 50
? The Companies Act, 2013
½
½
=1 Mark
2 6 5 Q. P, Q and R................... R and S.
Ans.
P’s share = 3/6 – 1/16 = 21/48
Q’s share = 2/6 – 1/ 16 = 13/48 ½
R’s share = 1/6 x 8/8 = 8/48
S’s share = 1/8 x 6/6 = 6/48
Thus, the New Profit sharing ratio for P, Q, R and S will be 21:13:8:6 ½
=
1 Mark
3 1 4 Q. On 28.2.2016 the first call.................................books of the company.
Ans.
Kumar Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Feb 28
2016
Bank A/c Dr.
Calls in Arrears A/c Dr.
To Equity Share first call A/c
To Calls in advance A/c
( Being call money received except on
1,000 shares and received advance on 750
shares)
1,01,000
2,000
1,00,000
3,000
1 Mark
4 2 3 Q. Distinguish between.................Economic relationship.
Ans.
Basis Dissolution of partnership Dissolution of partnership
firm
Economic relationship Economic relationship
between the partners
continues though in a
changed form.
Economic relationship
between the partners
comes to an end.
1 Mark
5 3 2 Q. State the...........................Redemption Reserve.
Ans.
According to the provisions of the Companies Act, 2013, the companies are required to
create Debenture Redemption Reserve of at least 25% of the face value of debentures before
the redemption of debentures commences.
1 Mark
6 4 1 Q. Tom and Harry..........................................were fluctuating.
Ans.
Journal
Date Particulars LF Dr (R) Cr (R)
2015
Mar 31
Tom’s Capital A/c Dr.
To Interest on Drawings A/c
(Being Interest on drawings charged)
2,000
2,000
1 Mark
7 10 9 Q. On 2.3.2016........................at 6% premium.
Ans.
(a)
Page 3
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2015-16
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
General Instructions:-
1. The Marking scheme provides general guidelines to reduce subjectivity in the marking. The answers for theory questions given in the
marking scheme are suggested answers. The content is thus indicative. If a student has given any other answer which is different from
the one given in the marking scheme but conveys the same meaning, such answers should be given full weightage.
2. 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.
3. 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.
4. 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.
5. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
6. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
7. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
8. 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.
9. In theory questions, credit is to be given for the content and not for the format.
10. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
11. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
12. In compliance to the judgment of the Hon’ble Supreme Court of India, Board has decided to provide photocopy of the answer
book(s) to the candidates who will apply for it along with the requisite fee from 2012 examination. Therefore, it is all the more
important that the evaluation is done strictly as per the value points given in the marking scheme so that the Board could be in a
position to defend the evaluation at any forum.
13. In the light of the above judgment instructions have been incorporated in the guidelines for Centre Superintendents to ensure that the
answer books of all the appeared candidates have been sent to the Board’s office and in the Guidelines for spot evaluation for the
Examiners that they have to evaluate the answer books strictly in accordance with the value points given in the marking scheme and
the correct set of the question paper. The examiner(s) shall also have to certify this.
14. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
15. In the past it has been observed that the following are the common types of errors committed by the Examiners-.
? 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.
16. 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.
17. 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.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual
evaluation.
19. 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 2015-16
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 5 6 Q. A group........................it is given.
Ans.
? Maximum number of partners : 50
? The Companies Act, 2013
½
½
=1 Mark
2 6 5 Q. P, Q and R................... R and S.
Ans.
P’s share = 3/6 – 1/16 = 21/48
Q’s share = 2/6 – 1/ 16 = 13/48 ½
R’s share = 1/6 x 8/8 = 8/48
S’s share = 1/8 x 6/6 = 6/48
Thus, the New Profit sharing ratio for P, Q, R and S will be 21:13:8:6 ½
=
1 Mark
3 1 4 Q. On 28.2.2016 the first call.................................books of the company.
Ans.
Kumar Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Feb 28
2016
Bank A/c Dr.
Calls in Arrears A/c Dr.
To Equity Share first call A/c
To Calls in advance A/c
( Being call money received except on
1,000 shares and received advance on 750
shares)
1,01,000
2,000
1,00,000
3,000
1 Mark
4 2 3 Q. Distinguish between.................Economic relationship.
Ans.
Basis Dissolution of partnership Dissolution of partnership
firm
Economic relationship Economic relationship
between the partners
continues though in a
changed form.
Economic relationship
between the partners
comes to an end.
1 Mark
5 3 2 Q. State the...........................Redemption Reserve.
Ans.
According to the provisions of the Companies Act, 2013, the companies are required to
create Debenture Redemption Reserve of at least 25% of the face value of debentures before
the redemption of debentures commences.
1 Mark
6 4 1 Q. Tom and Harry..........................................were fluctuating.
Ans.
Journal
Date Particulars LF Dr (R) Cr (R)
2015
Mar 31
Tom’s Capital A/c Dr.
To Interest on Drawings A/c
(Being Interest on drawings charged)
2,000
2,000
1 Mark
7 10 9 Q. On 2.3.2016........................at 6% premium.
Ans.
(a)
3
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,01,625
3,01,625
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at a discount of 5%,
but redeemable at premium of 10%)
OR
9% Debenture Application & Allotment A/c Dr.
Discount on Issue of Debentures A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 5% discount but
redeemable at premium of 10%)
3,01,625
47,625
3,01,625
15,875
31,750
3,17,500
31,750
3,17,500
31,750
(b)
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,55,600
3,55,600
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Securities Premium Reserve A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 12% premium but
redeemable at premium of 6%)
3,55,600
19,050
3,17,500
38,100
19,050
½
1
½
1
=
3 Marks
8 9 10 Q. State any three..................may arise.
Ans.
In addition to the stated circumstances, the need for the valuation of goodwill in partnership
arises in the following circumstances:
? Change in the profit sharing ratio amongst the existing partners.
? Dissolution of a firm involving sale of business as a going concern
? Amalgamation of partnership firms.
1 x 3
=
3 Marks
9 8 7 Q. K Ltd.......................... books of K Ltd.
Ans.
Page 4
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2015-16
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
General Instructions:-
1. The Marking scheme provides general guidelines to reduce subjectivity in the marking. The answers for theory questions given in the
marking scheme are suggested answers. The content is thus indicative. If a student has given any other answer which is different from
the one given in the marking scheme but conveys the same meaning, such answers should be given full weightage.
2. 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.
3. 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.
4. 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.
5. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
6. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
7. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
8. 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.
9. In theory questions, credit is to be given for the content and not for the format.
10. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
11. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
12. In compliance to the judgment of the Hon’ble Supreme Court of India, Board has decided to provide photocopy of the answer
book(s) to the candidates who will apply for it along with the requisite fee from 2012 examination. Therefore, it is all the more
important that the evaluation is done strictly as per the value points given in the marking scheme so that the Board could be in a
position to defend the evaluation at any forum.
13. In the light of the above judgment instructions have been incorporated in the guidelines for Centre Superintendents to ensure that the
answer books of all the appeared candidates have been sent to the Board’s office and in the Guidelines for spot evaluation for the
Examiners that they have to evaluate the answer books strictly in accordance with the value points given in the marking scheme and
the correct set of the question paper. The examiner(s) shall also have to certify this.
14. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
15. In the past it has been observed that the following are the common types of errors committed by the Examiners-.
? 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.
16. 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.
17. 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.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual
evaluation.
19. 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 2015-16
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 5 6 Q. A group........................it is given.
Ans.
? Maximum number of partners : 50
? The Companies Act, 2013
½
½
=1 Mark
2 6 5 Q. P, Q and R................... R and S.
Ans.
P’s share = 3/6 – 1/16 = 21/48
Q’s share = 2/6 – 1/ 16 = 13/48 ½
R’s share = 1/6 x 8/8 = 8/48
S’s share = 1/8 x 6/6 = 6/48
Thus, the New Profit sharing ratio for P, Q, R and S will be 21:13:8:6 ½
=
1 Mark
3 1 4 Q. On 28.2.2016 the first call.................................books of the company.
Ans.
Kumar Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Feb 28
2016
Bank A/c Dr.
Calls in Arrears A/c Dr.
To Equity Share first call A/c
To Calls in advance A/c
( Being call money received except on
1,000 shares and received advance on 750
shares)
1,01,000
2,000
1,00,000
3,000
1 Mark
4 2 3 Q. Distinguish between.................Economic relationship.
Ans.
Basis Dissolution of partnership Dissolution of partnership
firm
Economic relationship Economic relationship
between the partners
continues though in a
changed form.
Economic relationship
between the partners
comes to an end.
1 Mark
5 3 2 Q. State the...........................Redemption Reserve.
Ans.
According to the provisions of the Companies Act, 2013, the companies are required to
create Debenture Redemption Reserve of at least 25% of the face value of debentures before
the redemption of debentures commences.
1 Mark
6 4 1 Q. Tom and Harry..........................................were fluctuating.
Ans.
Journal
Date Particulars LF Dr (R) Cr (R)
2015
Mar 31
Tom’s Capital A/c Dr.
To Interest on Drawings A/c
(Being Interest on drawings charged)
2,000
2,000
1 Mark
7 10 9 Q. On 2.3.2016........................at 6% premium.
Ans.
(a)
3
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,01,625
3,01,625
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at a discount of 5%,
but redeemable at premium of 10%)
OR
9% Debenture Application & Allotment A/c Dr.
Discount on Issue of Debentures A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 5% discount but
redeemable at premium of 10%)
3,01,625
47,625
3,01,625
15,875
31,750
3,17,500
31,750
3,17,500
31,750
(b)
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,55,600
3,55,600
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Securities Premium Reserve A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 12% premium but
redeemable at premium of 6%)
3,55,600
19,050
3,17,500
38,100
19,050
½
1
½
1
=
3 Marks
8 9 10 Q. State any three..................may arise.
Ans.
In addition to the stated circumstances, the need for the valuation of goodwill in partnership
arises in the following circumstances:
? Change in the profit sharing ratio amongst the existing partners.
? Dissolution of a firm involving sale of business as a going concern
? Amalgamation of partnership firms.
1 x 3
=
3 Marks
9 8 7 Q. K Ltd.......................... books of K Ltd.
Ans.
4
K Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
(i) Sundry Assets A/c Dr.
Goodwill A/c Dr.
To Sundry liabilities A/c
To P Ltd. A/c
( Being Assets & Liabilities acquired)
15,00,000
3,68,500
5,00,000
13,68,500
(ii) P Ltd. A/c Dr.
To Bills Payable A/c
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being draft accepted and equity shares issued at
a premium of 25%)
OR
P Ltd. A/c Dr.
To Bills Payable A/c
(Being draft accepted)
P Ltd. A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being equity shares issued at a premium of
25%)
13,68,500
25,500
13,43,000
25,500
10,74,400
2,68,600
25,500
10,74,400
2,68,600
1 ½
1 ½
=
3 Marks
10 7 8 Q. To provide employment..............to propagate.
Ans.
Jyoti Power Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Bank A/c Dr.
To Equity Share Application and allotment A/c
(Being application & allotment money received
for 20,00,000 shares)
2,60,00,000
2,60,00,000
Equity Share Application and Allotment A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
To Bank A/c
(Being share application and allotment money
adjusted)
2,60,00,000
85,00,000
25,50,000
1,49,50,000
Values ( Any Two):
1. Providing employment opportunities
2. Development of backward areas
3. Helping the young people to undertake developmental activities and
promoting peace and harmony.
(Or Any other correct value)
½
½
2
=
3 Marks
11 12 11 Q. Vikas and Vivek...........................year ended 31-3-2015.
Ans.
Page 5
1
- -Strictly Confidential : (For Internal and Restricted Use Only)
Senior School Certificate Examination
March -2015-16
Marking Scheme - Accountancy (Outside Delhi) 67/1, 67/2, 67/3
General Instructions:-
1. The Marking scheme provides general guidelines to reduce subjectivity in the marking. The answers for theory questions given in the
marking scheme are suggested answers. The content is thus indicative. If a student has given any other answer which is different from
the one given in the marking scheme but conveys the same meaning, such answers should be given full weightage.
2. 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.
3. 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.
4. 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.
5. If a question does not have any parts, marks must be awarded in the left hand margin and encircled.
6. If a student has attempted an extra question, answer of the question deserving more marks should be retained and other answer
scored out.
7. No marks to be deducted for the cumulative effect of an error. It should be penalized only once.
8. 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.
9. In theory questions, credit is to be given for the content and not for the format.
10. A full scale of marks 1-80 has to be used. Please do not hesitate to award full marks if the answer deserves it.
11. No marks are to be deducted or awarded for writing / not writing ‘TO and BY’ while preparing Journal and Ledger accounts.
12. In compliance to the judgment of the Hon’ble Supreme Court of India, Board has decided to provide photocopy of the answer
book(s) to the candidates who will apply for it along with the requisite fee from 2012 examination. Therefore, it is all the more
important that the evaluation is done strictly as per the value points given in the marking scheme so that the Board could be in a
position to defend the evaluation at any forum.
13. In the light of the above judgment instructions have been incorporated in the guidelines for Centre Superintendents to ensure that the
answer books of all the appeared candidates have been sent to the Board’s office and in the Guidelines for spot evaluation for the
Examiners that they have to evaluate the answer books strictly in accordance with the value points given in the marking scheme and
the correct set of the question paper. The examiner(s) shall also have to certify this.
14. Every Examiner should stay up to sufficiently reasonable time normally 5-6 hours every day and evaluate 20-25 answer books.
15. In the past it has been observed that the following are the common types of errors committed by the Examiners-.
? 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.
16. 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.
17. 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.
18. The Examiners should acquaint themselves with the guidelines given in the Guidelines for Spot Evaluation before starting the actual
evaluation.
19. 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 2015-16
Accountancy (055)
Outside Delhi – 67/1
Expected Answers / Value points
Distribution
of marks
67/
1
67/
2
67/
3
1 5 6 Q. A group........................it is given.
Ans.
? Maximum number of partners : 50
? The Companies Act, 2013
½
½
=1 Mark
2 6 5 Q. P, Q and R................... R and S.
Ans.
P’s share = 3/6 – 1/16 = 21/48
Q’s share = 2/6 – 1/ 16 = 13/48 ½
R’s share = 1/6 x 8/8 = 8/48
S’s share = 1/8 x 6/6 = 6/48
Thus, the New Profit sharing ratio for P, Q, R and S will be 21:13:8:6 ½
=
1 Mark
3 1 4 Q. On 28.2.2016 the first call.................................books of the company.
Ans.
Kumar Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Feb 28
2016
Bank A/c Dr.
Calls in Arrears A/c Dr.
To Equity Share first call A/c
To Calls in advance A/c
( Being call money received except on
1,000 shares and received advance on 750
shares)
1,01,000
2,000
1,00,000
3,000
1 Mark
4 2 3 Q. Distinguish between.................Economic relationship.
Ans.
Basis Dissolution of partnership Dissolution of partnership
firm
Economic relationship Economic relationship
between the partners
continues though in a
changed form.
Economic relationship
between the partners
comes to an end.
1 Mark
5 3 2 Q. State the...........................Redemption Reserve.
Ans.
According to the provisions of the Companies Act, 2013, the companies are required to
create Debenture Redemption Reserve of at least 25% of the face value of debentures before
the redemption of debentures commences.
1 Mark
6 4 1 Q. Tom and Harry..........................................were fluctuating.
Ans.
Journal
Date Particulars LF Dr (R) Cr (R)
2015
Mar 31
Tom’s Capital A/c Dr.
To Interest on Drawings A/c
(Being Interest on drawings charged)
2,000
2,000
1 Mark
7 10 9 Q. On 2.3.2016........................at 6% premium.
Ans.
(a)
3
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,01,625
3,01,625
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at a discount of 5%,
but redeemable at premium of 10%)
OR
9% Debenture Application & Allotment A/c Dr.
Discount on Issue of Debentures A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 5% discount but
redeemable at premium of 10%)
3,01,625
47,625
3,01,625
15,875
31,750
3,17,500
31,750
3,17,500
31,750
(b)
L & B Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
2016
Mar 2
Bank A/c Dr.
To 9% Debenture Application & Allotment A/c
(Being application money received)
3,55,600
3,55,600
2016
Mar 2
9% Debenture Application & Allotment A/c Dr.
Loss on Issue of Debentures A/c Dr.
To 9 % Debentures A/c
To Securities Premium Reserve A/c
To Premium on Redemption of Debentures A/c
(Being transfer of application money to
debenture account issued at 12% premium but
redeemable at premium of 6%)
3,55,600
19,050
3,17,500
38,100
19,050
½
1
½
1
=
3 Marks
8 9 10 Q. State any three..................may arise.
Ans.
In addition to the stated circumstances, the need for the valuation of goodwill in partnership
arises in the following circumstances:
? Change in the profit sharing ratio amongst the existing partners.
? Dissolution of a firm involving sale of business as a going concern
? Amalgamation of partnership firms.
1 x 3
=
3 Marks
9 8 7 Q. K Ltd.......................... books of K Ltd.
Ans.
4
K Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
(i) Sundry Assets A/c Dr.
Goodwill A/c Dr.
To Sundry liabilities A/c
To P Ltd. A/c
( Being Assets & Liabilities acquired)
15,00,000
3,68,500
5,00,000
13,68,500
(ii) P Ltd. A/c Dr.
To Bills Payable A/c
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being draft accepted and equity shares issued at
a premium of 25%)
OR
P Ltd. A/c Dr.
To Bills Payable A/c
(Being draft accepted)
P Ltd. A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
(Being equity shares issued at a premium of
25%)
13,68,500
25,500
13,43,000
25,500
10,74,400
2,68,600
25,500
10,74,400
2,68,600
1 ½
1 ½
=
3 Marks
10 7 8 Q. To provide employment..............to propagate.
Ans.
Jyoti Power Ltd.
Journal
Date Particulars LF Dr (R) Cr (R)
Bank A/c Dr.
To Equity Share Application and allotment A/c
(Being application & allotment money received
for 20,00,000 shares)
2,60,00,000
2,60,00,000
Equity Share Application and Allotment A/c Dr.
To Equity Share Capital A/c
To Securities Premium Reserve A/c
To Bank A/c
(Being share application and allotment money
adjusted)
2,60,00,000
85,00,000
25,50,000
1,49,50,000
Values ( Any Two):
1. Providing employment opportunities
2. Development of backward areas
3. Helping the young people to undertake developmental activities and
promoting peace and harmony.
(Or Any other correct value)
½
½
2
=
3 Marks
11 12 11 Q. Vikas and Vivek...........................year ended 31-3-2015.
Ans.
5
Profit & Loss Appropriation A/c of Vikas, Vivek & Vandana
Dr. For the year ended 31
st
March 2015 Cr.
Particulars Amount (R) Particulars Amount (R)
To Partners’ Capital A/c:
(transfer of profit)
Vikas - 4,72,500
Less Deficiency- 22,500
Vivek- 3,15,000
Less Deficiency- 15,000
Vandana- 1,12,500
Add from Vikas 22,500
From Vivek 15,000
4,50,000
3,00,000
1,50,000
By Profit and loss A/c
(net profit)
9,00,000
9,00,000 9,00,000
Alternative Solution:
Profit & Loss Appropriation A/c of Vikas, Vivek & Vandana
Dr. For the year ended 31
st
March 2015 Cr.
Particulars Amount (R) Particulars Amount (R)
To Profit transferred to
Partners’ Capital A/c:
Vikas - 4,72,500
Less Deficiency- 15,000
Vivek- 3,15,000
Less Deficiency- 22,500
Vandana- 1,12,500
Add from Vikas 15,000
From Vivek 22,500
4,57,500
2,92,500
1,50,000
By Profit and loss A/c
(net profit)
9,00,000
9,00,000 9,00,000
=
4 Marks
12 11 12 Q. Manav, Nath and Narayan...................................Nath’s Death.
Ans.
Books of the firm
Journal
Date Particulars LF Dr (R) Cr (R)
30.09.2015 Manav’s Capital A/c Dr.
Narayan’s Capital A/c Dr.
To Nath’s Capital A/c
(Being Nath’s share of goodwill adjusted
in the capital A/c of the existing partners
in their gaining ratio i.e. 1:1)
95,000
95,000
1,90,000
30.09.2015 Nath’s Capital A/c Dr.
To Profit & Loss A/c
(Being Nath’s share in debit balance of
Profit & Loss A/c transferred)
OR
Manav’s Capital A/c Dr.
Nath’s Capital A/c Dr.
Narayan’s Capital A/c Dr.
To Profit & Loss A/c
(Being Nath’s share in debit balance of
Profit & Loss A/c transferred)
15,000
7,500
15,000
7,500
15,000
30,000
1
1
1
1
1
1
1
1
1
1
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