Marking Scheme March -2015-16 Notes | Study Crash Course of Accountancy - Class 12 - Commerce

 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