Marking Scheme March -2016-17 | Crash Course of Accountancy - Class 12 - Commerce PDF Download

 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