ANNUAL EXAMINATION – FEBRUARY 2024

SUBJECT: ACCOUNTANCY

Date- 12-02-2024 Marking Scheme

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S.No Answers Marks

1 c)When they are earned 1
2 b) expense 1
3 b) Error of Commission OR a) 4500 1
4 b)1-D, II-B, III-A, IV-C 1
5 b)256000 Or b) 1,00,000 1
6 a) 360000 Or b) 2,10,000 1
7 B)Assertion and Reason are correct and the Reason is the 1
correct explanation of Assertion.

8 b) Secret Reserve 1
9 a) Or d) 1
10 a 1
11 d 1
12 b 1
13 d 1
14 a Or c 1
15 b 1
16 B 1
17 LF (Dr.) (Cr.)
Date Particulars
2023 Cash A/c Dr. 50,000
Feb 1
Bank A/c Dr. 2,00,000

To Capital A/c 2,50,000

[Capital introduced in
Cash ₹ 50,000 and
balance by cheque)]

Feb 7 Purchase A/c Dr. 30,000

To Cash 29400

Page 1 of 9
 To Discount 600
Received

[Purchase of goods of ₹
30,000, received cash
discount @ 2%]
Feb 9
Cash A/c Dr. 3600

Bad Debt A/c Dr. 2400

To Mehul A/c 6,000

[Received dividend of 60
paise in a rupee from the
Official Receiver of Mehul]
or
Date Particulars LF (Dr.)
(Cr.)
i) Cash a/c Dr. 475
Discount Allowed A/c Dr 25
To Krishna 500

ii) Rent A/c Dr 5000

Drawings A/c Dr 10000
To Cash A/c 15,000

iii) Depreciation A/c Dr. 30,000

To Furnitures A/c 30,000

18 Trial Balance as on March 31, 2023

Debit Credit
S.No. List of Items Balances Balances
1 Building 60,000
2 Machinery 16,500
3 Fixtures 7,600
4 Debtors 14,000
5 Sales Return 2,500
6 Purchase Returns 1,600
7 Creditors 15,000
8 Discount Received 3,500
9 Sales 40,000

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 10 Purchase 35,600
11 Stock 7,000
12 Capital 83,100
Total 1,43,200 1,43,200
19 Date Particulars LF (Dr.) 3
(Cr.)
i) Suspense A/c Dr 70
To Creditor a/c 70

ii) Suspense A/c Dr 2,000

To Nitin 2,000

iii) Suspense A/c Dr. 500

To Purchase A/c 500

20 Any 3 difference (1 Mark each) 3

21 Assets = Liabilities + Capital 4
S.
Accrued Outstanding
No. Cash + Stock + =
Interest Rent
(i) +2,00,00 +50000 +2,50,000
0
2,00,000 50000 = 2,50,000
(ii) +20,000 _18,000 2000
+2,20,00 + 32000 = + 2,52,000
0
(iii) _500 200 -700
2,19,500 + 32,000 + = 200 + 2,51,300
(iv) 700 +700
2,19,500 + 32,000 + 700 = 200 + 2,52,000
(1 mark for each Transaction)
22 Bank Reconciliation statement as on 30th September,2023 6
Particulars Plus Minus
Balance as per cash book (Dr) 8250
Add
Cheques issued but not presented 2200
Direct deposit by the customer 3500
Interest Credited by bank 320
Less
Cheques sent for collection but not 1900
credited by bank
Debit side of cash book overcast 100
Rent paid by bank 800
Bank charges 40
Balance as per Pass Boo Cr 11430
14270 14270
OR
Bank Reconciliation statement as on 30th September,2023

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 Particulars Plus Minus
Balance as per Pass book (Dr) 5220
Add
Cheques dishonoured 800
Cheques deposited but not credited by
ban 6000
Bank Charges 50
Less
Cheques issued but not presented 400
Interest on Overdraft 200
Wrong credit by bank to the account 900
Balance as per Cash Book Dr 130
6850 6850
(1x6= 6)
23 Date Particular Cash bank Ban Particular Cash bank
s k s
201 April By bal 1320
7 To bal 1650 1 b/d 0
Apri c/d 0
l1
5 To sales 1700 7 By 1200
0 Purchase 0
18 To cash 7000 9 By 1000
furniture 0
25 To sales 2300 10 By rohit 5000
0
30 To 2500 16 By 500
interest interest
on
overdraft
18 By bank 7000
20 By 600
telephone
exp
29 By 1000
drawings
30 By Bal 1050 6200
0
3800 3250 3800 3250
0 0 0 0
24 Purchases Book
Detail Amoun
Date Particulars LF
s t
2022
April 07 Akshaya & Co;
10 Chairs @ Rs 4,000 each 40,000
1 Table @ Rs 12,000 12000
52,000

Page 4 of 9
 Less: 10% Trade Discount 5,200 46,800
(1)
April 16 Modern Furniture & Co., Delhi
5 Chairs @ Rs 180 each 1,800 1,800
(1)
June 30 Purchases A/c 48,600
(½ )

Date Particulars L.F. Details Amount

SALES BOOK
2022
April Supreme Furniture Co;
10
2 Almirahs @ Rs 40,000 each 80,000
Less: 15% Trade Discount 12,000 68,000
(1)
April Morning Star, Delhi
25
2 Dining Tables @ Rs 12,000 each 24,000
Less: 10% Trade Discount 2,400 21,600
(1)
April Sales A/C (½) 89,600
30

Note: Purchases book records only the credit purchase of goods, so

transaction dated April 15 (being purchase of goods for cash) will not be
recorded. ( ½ )
Sales book records only the credit sales of goods, so transaction dated
April 12 (being cash sales) will not be recorded. (½)
April 26 transaction will be recorded in Journal Proper.
25 MACHINERY ACCOUNT
Date Particulars ₹ Date Particulars ₹
2021 2022
April To bank 120000 Mar 31 By Dep 18000
1 Mar 31 By bal c/d 102000

120000 120000
2022 2023
Apr 1 To bal b/d 102000 Mar 31 By Dep 16800
Sep30 To bank 20000 (15300+1500)
By bal c/d 105200
122000 122000
2023 2023
Apr 1 To bal b/d 105200 June 30 By bank 80000
Jun30 To bank 8000 By Dep M1 3251
By Loss 3449

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 2024
Mar 31 By Dep 3675
(2775 +900)
By Bal 22825

113200 113200
OR
Machinery A/C
Dat Particulars ₹ Date Particulars ₹
e
1-4- To bal b/d 160000 1-4-22 By bank 400000
22 0
By Pro 180000
31-3- By Loss 20000
23 By bal c/d 1000000
160000 1600000
0
Provision For Depreciation Account
Date Particulars ₹ Date Particulars ₹
1-4- To Machinery 18000 1-4- By bal c/d 640000
22 0 22
31-3- To Balance 31-3- By Depreciation
23 c/d 46000 23 100000
0
64000 640000
0
26 a) 5250 OR a) 7,00,000 1
27 b) 30,000 1
28 d)Dual Aspect Concept 1
29 1
c) 36000 or c )3000
30 3
A) Capital Expenditure

B) Revenue Expenditure

C) Revenue Expenditure
31 3
Loss by Fire a/c dr 28000

To purchase a/c 28000 (1)

In trading account deduct 28000 from Purchase and in balance sheet show
28000 in Asset as Innsrance Co (2)
32 4

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 Statement of Affairs

Liability Amount Asset Amount

Creditor 160000 Cash 60000

Capital B/F 1310000 Bank 140000

Debtors 240000

Machinery 400000

Stock 480000

Furniture 150000

1470000 1470000

Statement of P/L

Particulars Amount

Closing capital 1310000

Less Additional Cap 300000

Add drawings 180000

Less opening Cap 1000000

Profit 190000
33 (a) Salary a/c …Dr 6,000 4
To Outstanding salary a/c 6,000 (1 Marks each )
(b) Prepaid insurance a/c ..Dr 2,500
To Insurance a/c 2,500
(C) Accrued Commission ac…Dr 500
To Commission a/c 500
(d) Rent a/c …Dr 5,000
To Pre paid rent a/c 5,000
OR
Gross Profit Rs 20,000 (2 Marks each)
Cost of goods sold Rs 80,000

34
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 Trading, Profit & Loss Account for the year ended 31st March, 2023

Particulars Particulars
To Opening Stock 10,000 By Sales 70,000
Less Returns 2,000 68,000
To Purchases 36,000 By Closing Stock 12,000
Less: Returns 1,000 35,000

To Wages 10,000
Add O/S 2,000 12,000
To Gross Profit c/d 23,000 23,000
80,000 80,000
To Repairs 2,000 By Gross profit c/d 23,000
To Rent 1,000
To Bad debts 2,400
Add FBD 500
Add New Provision 575
3,475
Less Old provision 700 2,775
To Interest on Loan 800
Add O/s interest 700 1,500
To Depreciation on machinery 2,500
To Net profit 20,425
30,200 30,200

Balance Sheet as at 31st March, 2018

LIABILITIES ASSETS
O/s Wages 2,000 Cash in hand 16,000
Loan from Bank 15,000
Add Interest 700 15,700 Closing Stock 12,000
Creditors 15,300 Sundry Debtors 12,000
Less FBD 500
11,500
Less New Provision 575 10,925
Capital 43,000 Machinery 50,000
Add N/P 20,425 63,425 Less depn. 2,500 47,500
Vehicles 10,000
96,425 96,425

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