USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS

CONTACT 77107-11722

ULTIMATE BOOK OF ACCOUNTANCY PRESENTS

SAMPLE PAPER : 2024-25
Class: XII
Subject: Accountancy
Time: 3 hrs. Max Marks: 80
General Instructions:
(i) This question paper contains 34 Questions and 12 pages.
(ii) All parts of the questions should be attempted at one place.
(iii) Use of calculator is prohibited.
(iv) 15-minutes time has been allotted to read this question paper.

1. One third of old Furniture is taken over by a partner at Rs.27,000 (being 10% less) and [1]
remaining was valued at Rs.52,000. A debtor whose dues of Rs.13,000 were written off as bad
last year, paid Rs.10,000. If there are two equal partners, how much revaluation gain/loss to be
shared by one partner.
(a) Rs. 2,000 (b) Rs. 8,000
(c) Rs. 10,000 (d) Rs. 1,000

2. There are two statements given below, one is Assertion and second is Reason. Read the [1]
statements carefully and find the correct option:
Assertion (A):
Reconstitution of a partnership firm always leads to change in profit sharing ratio among
the partners and it leads to dissolution of partnership and not dissolution of the firm.

Reason (R):
The existing partnership agreement ends, and new agreement comes into effect.
Choose the correct option:
(a) Both A and R are correct, and R is the correct explanation of A.
(b) Both A and R are correct, but R is not the correct explanation of A.
(c) A is correct but R is incorrect.
(d) A is incorrect but R is correct.

3. VK Ltd. forfeited 1200 shares of Rs.50 each issued at for non-payment of Rs.12,000 on final [1]
call. Out of the forfeited shares some were reissued at Rs.45 each and received Rs.40500 and
Gain on reissue Rs.31,500 was transferred to the Capital Reserve.
Share Forfeiture Account debited at the time of Reissue:

Page 1 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
(a) Rs.6,500 (b) Rs.3,500
(c) Rs. 4,500 (d) Rs. 2,500
OR
On 1st April 2022, Galaxy ltd. had a balance of Rs. 8,00,000 in Securities Premium account.
During the year company issued 20,000 Equity shares of Rs.10 each as bonus shares and used
the balance amount to write off Loss on issue of Debenture on account of issue of 2,00,000, 9%
Debentures of Rs.100 each at a discount of 10% redeemable @ 5% Premium. The amount to
be charged to Statement of P&L for the year for Loss on issue of Debentures would be:
(a) Rs.24,00,000 (b) Rs.22,00,000
(c) Rs.30,00,000 (d) Rs.20,00,000
4. GH and DH are partners in a firm sharing profits and losses in the ratio of ___ : ___. With [1]
effect from 1st April 2024 they decided to share profits/losses equally. On that date, their
Balance Sheet showed:
(i) Profit & Loss A/c (Cr.) ……………………..3,45,000
(ii) Advertisement Suspense Account ………..… 45,000
They decided to show these balance as it is and made adjustment entry as follows:
Date Particulars L.F. Debit Credit
GH’s Capital A/c Dr. 50,000
To DH’s Capital A/c 50,000
(Being adjustment made)

The old ratio of GH and DH _____

(a) 3:2 (b) 5:3
(c) 4:3 (d) 2:1
OR

Yogi and Modi are partners sharing profits in the ratio of 4:1. Their Extracted Balance Sheet
as at 31st March 2024, shows:

Liabilities Amount Assets Amount

Debtors
9400 9,000
Less: Provision for Doubtful
Debts 400
All Debtors are good.

Impact on Revaluation Account ______

(a) No Impact on Revaluation Account (b) Revaluation Gain Rs. 400
(c) Revaluation Loss Rs. 400 (d) Revaluation Loss Rs. 800

Page 2 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
5. On 1st October 2024, Vinod, a partner, to whom firm advanced a loan of Rs.1,20,000. In the [1]
absence of Partnership Deed, the amount of interest on loan to be paid by Vinod on 31st March
2025 will be ___
(a) Rs.3,600 (b) Rs.7,200
(c) Rs.6,000 (d) Nil

6. Hawai Ltd. issued 80,000, 10% Debentures of Rs.100 each at certain rate of discount and were [1]
to be redeemed at 10% premium. At the time of writing off Loss on Issue of Debentures,
Statement of Profit and Loss was debited with Rs.2,00,000. At what rate of premium these
debentures were issued?
(a) 5% (b) 10%
(c) 15% (d) 25%
OR
Which of the following statement is not true with respect of Debentures?
(a) Debentures can be issued at Premium of more than 50%.
(b) Debentures can be issued as collateral security.
(c) Debenture is a borrowing of the company.
(d) Debentures cannot be issued at Discount.

7. MG Group Ltd. took over the assets and liabilities of Bunty Ltd. for a purchase consideration [1]
of Rs.13,68,500. Some amount was payable through a Promissory Note in favour of Bunty Ltd.
payable after two months and balance was paid by issue of Equity Shares of Rs.100 each at a
premium of 25%. Securities Premium Account was credited with Rs.2,68,600.
How much amount is payable through Promissory Note?
(a) Rs. 26,960 (b) Rs. 26,860
(c) Rs. 25,500 (d) Rs. 28,500

8. At the time of Dissolution of partnership firm, Mr. Gujju (a partner) accepts an unrecorded [1]
asset valued at Rs.60,000 against his loan to the firm of Rs.50,000.
Identify the correct entry for the above transaction:

(a) Loan by Gujju 60,000

To Realisation A/c 60,000

(b) Realisation A/c 50,000

To Loan by Gujju 50,000

(c) Loan by Gujju 60,000

To Realisation A/c 50,000
To Cash/Bank A/c 10,000

(d) Loan by Gujju 50,000

To Realisation A/c 50,000

OR

Page 3 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
Mukul, Shourya and Anuj were partners in a firm sharing profits in the ratio of 3:2:1. Anuj
retired and goodwill of the firm was valued Rs.60,000. Following adjustment entry was made
for the adjustment of goodwill on his retirement:
Date Particulars L.F. Debit Credit
Shourya’s Capital A/c Dr. 20,000
To Mukul’s Capital A/c 10,000
To Anuj’s Capital A/c 10,000
(Being adjustment made)
New Profit sharing ratio between Mukul and Shourya ______
(a) 2:1 (b) 1:2
(c) 3:2 (d) 2:3

9. Vinod, Suraj and Satish were partners sharing profits equally. Suraj withdrew Rs.48,000 during [1]
the year for his personal use. Interest on drawings @6% p.a. was charged whereas the
partnership deed was silent about interest on drawings.
After rectifying the error, identify the correct option from the following
(a) Satish’s Capital Account Dr. 960
(b) Suraj’s Capital Account Dr. 480
(c) Vinod’s Capital Account Cr. 960
(d) Suraj’s Capital Account Cr. 960

10. X, Y and Z are sharing profits/losses in the ratio of 1:2:3. At the time of Dissolution of their [1]
partnership firm Sundry Assets were Rs.4,00,000, Creditors were Rs.50,000. Assets were
realized for 3,90,000 and expenses of realization were paid by the firm Rs.8,000.
How much Realisation Gain or loss to be shown in Z’s Capital Account?
(a) Z’s Capital Account Debited with Rs.9,000
(b) Z’s Capital Account Credited with Rs.9,000
(c) Z’s Capital Account Debited with Rs.6,000
(d) Z’s Capital Account Credited with Rs.3,000

11. Akbar and Birbal were partners in a firm sharing profits in the ratio 3:2. At the end of the year [1]
31st March 2024 their fixed capitals were Rs.1,50,000 and Rs.1,90,000 respectively, Divisible
loss for the year ended 31st March 2024 was Rs. 50,000. Interest on capital was also provided
@10% p.a. in accordance with partnership deed. Determine interest on Akbar’s Capital for
the year ended. 31.03.2024:
(a) Rs. 18,000 (b) Rs. 12,000
(c) Rs. 15,000 (d) Rs. 13,000

12. Brics Ltd. invited applications for 2,00,000 shares of Rs. 10 each payable Rs. 5 on application, [1]
Rs. 3 on allotment and Rs. 2 on call. Public has applied for 3,80,000 shares. Pro-rata allotment
was made in the ratio 7:4. Determine the amount to be refunded by the company at the time of
allotment of shares.
(a) Rs. 3,00,000 (b) Rs. 9,00,000
(c) Rs. 1,50,000 (d) Rs. 7,50,000

Page 4 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722

13. What will the correct sequence of events? [1]

(i) Reissue of Forfeited Shares (ii) Transfer to Capital Reserve
(iii) Default on calls (iv) Forfeiture of Shares
Choose correct option:
(a) (iii), (ii), (i), (iv) (b) (iii), (iv), (i), (ii)
(c) (ii), (iv), (i), (iii) (d) (iii), (iv), (ii), (i)

14. Benny, Kevin and David were partners sharing profits/losses in the ratio of 2:3:5. They decided [1]
to share future profits/losses in the ratio of 5:3:2. The Balance Sheet has following balances:
Contingency Reserve ……………….. Rs. 1,80,000
Profit and Loss A/c …………………. Rs. 90,000 (Dr.)
Identify the correct statement
(a) Net Positive impact on Benny’s capital account Rs. 36,000
(b) Negative impact on Benny’s capital account Rs. 18,000
(c) Net Positive impact on Benny’s capital account Rs. 18,000
(d) Negative impact on Benny’s capital account Rs. 36,000

15. John and David were sharing profits and losses in the ratio of 2:1. They admit Harry into [1]
partnership for 1/5th share. At the time of his admission, Furniture (Book Value Rs. 3,00,000)
was reduced by 30% and Machinery (Book value Rs. 2,00,000) was reduced to 70%.
Impact on David’s Capital Account for the above will be
(a) Debit his account by Rs. 63,333.33
(b) Credit his account by Rs. 63,333.33
(c) Debit his account by Rs. 50,000
(d) Credit his account by Rs. 50,000

16. At the time of admission of a partner, Revaluation Gain/Loss appearing in the Balance Sheet [1]
of the firm is transferred to the Capital Account of the following:
(a) Old partners in new profit sharing ratio
(b) All the partners in new profit sharing ratio
(c) Old partners in sacrificing ratio
(d) Old partners in old profit sharing ratio

17. Ratan and Mukesh were partners sharing profits/losses in the ratio of 5:3. The firm was [3]
dissolved and following items were given in Balance Sheet:
Furniture 60,000
Creditors 55,000
Profit and Loss A/c (Dr.) 16,000
Advertisement Suspense 8,000
Workmen Compensation Reserve 24,000
Furniture was taken over by the creditors in full settlement. Give entries

Page 5 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722

18. Mogly and Tiger were partners sharing profits/losses in the ratio of 1:1. Tiger died on 30th June [3]
2021. After all the necessary adjustments (except his share of profit), his capital account showed
a Debit Balance of Rs. 28,000. His share of profit was calculated Rs.1,11,000. His executor was
paid Rs.23,000 through a cheque and balance in three equal yearly instalments starting from
30th June 2022 with interest @10% p.a. on the unpaid amount. The firm closes its books on 31st
March every year.
Prepare Tiger’s Executor’s Account till the amount is finally paid.
OR
A partnership firm has provided the following information at the time of reconstitution:
Year 2019-20 2020-21 2021-22 2022-23 2023-24
Profits 2,50,000 3,50,000 6,00,000 8,50,000 9,50,000
Capital Employed 8,00,000 11,00,000 15,00,000 22,00,000 26,00,000
The Normal Rate of profit is 10% in a similar business. Calculate the value of Goodwill of the
firm by Super Profit method if the goodwill is valued at 2½ year’s purchase of super profits.

19. Vinod Ltd. invited applications for 5,000, 9% Debentures of Rs.100 each at a discount of 6%. [3]
Applications for 6,000 debentures were received. Pro rata allotment was made to all the
applicants.
Give entries assuming whole amount is payable with application and an old balance of
Securities Premium A/c Rs. 22,000 has appeared in the Company’s Balance Sheet.
OR
Vinod Ltd. forfeited 10,000 shares of Rs.10 each issued at a premium of Rs.1 per share, for
non-payment of second & final call of Rs.2 per share. Out of these, 60% of the forfeited shares
were reissued at Rs.7 per share fully paid up.
Pass necessary entries for forfeiture and reissue.

20. M, N, O and P were partners in a firm sharing profits and losses as follows: [3]
M N O P
30% 20% 10% 40%
M decided to retire from the firm and his share is acquired by N and O in the ratio of 3:2 as per
the agreement. Find out the New Profit-Sharing Ratio and Gain Ratio of the partners.

21. Sanora Ltd. took over the complete running business of Grove Ltd. which includes assets of [4]
Rs.45,00,000 and liabilities of Rs.15,00,000 for a purchase consideration of Rs.41,05,500. An
amount of Rs.76,500 was paid by issuing a promissory note in favour of Grove Ltd. payable
after two months and the balance was paid by issue of equity shares of Rs.100 each at a premium
of 25%. Give necessary entries for the above in the books of Sanora Ltd.

Page 6 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
22. Sony, Rony and Tony were partners in a firm sharing profits and losses in the ratio of 2:2:1. [4]
The firm closes its books on 31st March every year. Rony died on 24th June 2024. Rony’s share
in the profits of the firm till the date of death from the last balance sheet was to be calculated
on the basis of sales.
Sales during the year 2023-24 was Rs. 25,00,000 and profit earned during the year was
Rs.5,00,000. Sales from 1st April 2024 to 24th June 2024 were Rs. 4,00,000. On Rony’s death
goodwill of the firm was valued Rs.1,20,000. The total amount payable to Rony’s executors on
his death was Rs. 3,60,000. This amount was paid on 15th July 2024.
Give necessary entries for the above in the books of the firm.

23. Shri Ram Ltd. invited applications for offering 2,00,000 Equity Shares of Rs.50 each. The [6]
amount was payable as follows:
On Application ……………………………. 30% of the face value
On Allotment ……………………………….20% of the face value
On First and Final Call ……………………..Balance
Excess applications were received and adjusted as follows:
Category No. of Shares Applied No. of Shares Allotted
I 2,00,000 75% of the offer made
II 1,00,000 25% of the offer made
Excess money received was adjusted towards allotment and calls. Nobita, a shareholder of
Category I, holding 3,000 shares failed to pay the allotment money. His shares were forfeited
immediately after allotment. Mogli, a shareholder of Category II, who had applied for 1,000
shares failed to pay the first and final call. His shares were also forfeited. All the forfeited
shares were reissued at Rs.60 per share fully paid-up.
Give necessary entries and prepare cash book for the above.
OR
Vinod Ltd. forfeited 4700 Equity Shares of Rs.20 each issued at a premium of Rs.3 per share
for the non-payment of allotment money of Rs.8 (including premium Rs.3) and first call of
Rs.5 per share. Final call of Rs.5 per share was not made. Out of these, 2350 shares were
reissued at Rs.19 each fully paid.
Give entries for the above in the books of Vinod Ltd.

24. The fixed capital accounts of Sonu, Ankit and Aman, sharing profits and losses in the ratio of [6]
2:2:1, stood at Rs.4,00,000, Rs.6,00,000 and Rs.2,00,000 respectively.
The accounts for the year ended 31st March 2024, were drawn up and closed and the Current
Account balances of the partners were determined to be ; Sonu Rs.35,000, Ankit Rs.40,000 and
Aman Rs.25,000.
Subsequently the following errors were discovered on 1st April 2024:
(i) Interest on capital @10% per annum had been allowed to the partners, although there was
no provision for it in the partnership deed.
(ii) Salary of Rs.16,000 per annum to Sonu and Rs.20,000 per annum to Ankit was not allowed
to them, despite a provision for salary in the partnership deed.
(iii) Commission of Rs.24,000 was not allowed to Aman, despite a provision for commission
in the partnership deed.

Page 7 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
You are required to prepare the adjusted current accounts of the partners on 1st April 2024 to
rectify the lapse in accounting.
OR
Nonu, David and Ankit are partners sharing profits in the ratio of 5:3:7. Nonu retired from the
firm. David and Ankit decided to share profits in the ratio of 2:3.
The adjusted capital accounts of David and Ankit at the time of Nonu’s retirement showed the
balances of Rs.33,000 and Rs.70,500 respectively.
The total amount to be paid to Nonu is Rs.90,500 which is paid in cash immediately by the
firm., the cash being contributed by David and Ankit in such a way that their capitals become
proportionate to their new profit sharing ratio and the firm maintains a minimum cash balance
of Rs.5,000 from its existing balance of Rs.20,000.
You are required to pass journal entries to record the:
(i) Payment made to the retiring partner
(ii) Cash brought in by the remaining partners to pay off the Nonu.

25. Vinod and Mukesh were partners in a firm sharing profits and losses in the ratio of 2:3. On [6]
31st March 2024 their Balance Sheet was as follows:
Liabilities Amount Assets Amount
Creditors 80,000 Cash at Bank 20,000
Bank Overdraft 50,000 Debtors 55,000
Vinod’s Brother’s Loan 77,000 Less: Provision for
Mukesh’s Loan 28,000 Doubtful debts 2,000 53,000
Investment Fluctuation Reserve 15,000 Stock 78,000
Capitals: Vinod 1,50,000 Investment 89,000
Mukesh 1,00,000 2,50,000 Building 2,50,000
Profit and Loss Account 10,000

5,00,000 5,00,000

On the above date the firm was dissolved. The assets were realized and the liabilities were
paid off as follows:
(i) Debtors of Rs.6,000 were proved bad.
(ii) Vinod agreed to pay off his brother’s loan.
(iii) One of the Creditors for Rs.10,000 was paid only Rs.3,000 in full settlement of his
account.
(iv) Building was auctioned for Rs.1,80,000 and the auctioneer’s commission was amounted
to Rs.8,000.

Page 8 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
(v) Mukesh took over part of stock at Rs.4,000 (being 20% less than the book value) and
balance of the stock was handed over to the remaining creditors in full settlement of their
account.
(vi) Investment realized Rs.9,000 less.
(vii) Realisation Expenses amounted to Rs.17,000 were paid by Mukesh.
Prepare Realisation Account, Partners Capital Account and Bank Account.

26. Vinod Ltd. has an authorized capital of Rs.1,08,00,000 divided into Equity Shares of face value [6]
of Rs.100 each. Out of the Authorized Capital, company has decided to invite application for
50% Equity Shares at par payable as follows:
On Application ……………………….. 50% of the face value
On Allotment …………………………..10% of the face value
On First and Final Call ………………...40% of the face value
Allotment was made as follows:
Applied for 14,000 Shares ……………………. Full Allotment was made
Applied for 66,000 Shares ……………………. Remaining Shares were allotted
Excess (if any) to be adjusted on allotment and call.
Harry to whom full allotment was made of 1,200 shares, paid call money at the time of
allotment.
Sherry to whom 400 shares were allotted on pro-rata basis did not pay anything after
application. His shares were forfeited after the Call. All his forfeited shares were later on
reissued at Rs.110 per share as fully paid up.

You are required to answer the following questions:

(i) How much amount is refunded by the company?

(a) Rs. 60,000 (b) Rs. 50,000
(c) Rs. 20,000 (d) Nil

(ii) How much total amount is received (Bank A/c) on allotment after all adjustments?
(a) Rs. 2,08,000 (b) Rs.1,88,000
(c) Rs.1,50,000 (d) Rs.1,48,000

(iii) Amount due on First and Final Call _______

(a) Rs. 21,60,000 (b) Rs. 22,00,000
(c) Rs. 24,00,000 (d) Rs. 25,00,000

(iv) Total amount received on First and Final Call after all adjustments ____
(a) Rs. 12,00,000 (b) Rs. 11,98,000
(c) Rs. 12,05,000 (d) Rs. 12,60,000

Page 9 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
(v) Amount transferred to Share Forfeiture Account at the time of Forfeiture of Sherry’s
Share ___
(a) Rs. 33,000 (b) Rs. 32,000
(c) Rs. 28,000 (d) Rs. 30,000

(vi) Amount transferred to Capital Reserve at the end _______

(a) Rs. 30,000 (b) Rs. 32,000
(c) Rs. 28,000 (d) Rs. 33,000

Part – B : - Analysis of Financial Statements

27. A comparison of financial variables of an enterprise over a period of time is known as Inter- [1]
firm Comparison. It is also known as Time Series Analysis OR ___________
(a) Trend Analysis (b) Cross Sectional Analysis
(c) Goodwill Analysis (d) Cash Flow Statement Analysis

28. Current Ratio of Vinod Ltd. was 2:1. It had come to notice that a B/P was met before closing [1]
the accounts, but accountant had omitted to record same. Required rectification was done in the
books. What will be the impact on Current Ratio?
(a) Ratio will remain same (b) Ratio will improve
(c) Ratio will Decrease (d) Ratio will become 1:1

29. While preparing Cash Flow Statement which of the following is added to the Investing [1]
Activities:
(i) Loss on Sale of Asset
(ii) Dividend Received
(iii) Sale of Fixed Asset
(iv) Sale of Non-current Investment
Choose the correction option:
(a) Only (i) and (ii) (b) Only (ii) and (iv)
(c) Only (iii) and (iv) (d) Only (ii), (iii) and (iv)
OR
Which of the following statement is Correct?
(a) Decrease in Bank overdraft is part of operating activities.
(b) Interest Paid on loan is part of investing activities.
(c) Decrease in an Intangible fixed asset (without sale) is shown in operating activities.
(d) Increase in Current Asset is shown in investing activities.

30. There are two statements given below, one is Assertion and second is Reason. Read the [1]
statements carefully and find the correct option:
Assertion (A):
Purchase of Debentures are not shown under Financing Activities.

Reason (R):

Page 10 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
Purchase of Debentures means investment made by the company in some other company,
thus, it is part of investing activities and not financing activities.

Choose the correct option:

(a) A is correct but R is incorrect.
(b) Both A and R are correct, but R is not the correct explanation of A.
(c) Both A and R are correct, and R is the correct explanation of A.
(d) A is incorrect but R is correct.

31. Find the heads and sub-heads under which the following items will appear in the Balance Sheet [3]
of Vinod Ltd. as per Schedule III, Part I of the Companies Act, 2013
(i) Loans repayable on Demand
(ii) Unpaid Dividend
(iii) Provision for Employees Benefits
(iv) Accrued Incomes
(v) Commission received in advance
(vi) Bank Overdraft

32. Complete the following Comparative Statement of Profit and Loss: [3]
Particulars Note 31st March 31st March Absolute % Change
No. 2024 2025 Change

I. Revenue from Operations 10,00,000 16,00,000 ? 60%

II. Expenses:

(a) Cost of Materials Consumed ? 11,20,000 ? 60%

(b) Other Expenses 50,000 ? ? 60%

7,50,000 12,00,000 4,50,000 60%

III. Profit before Tax (I – II) 2,50,000 4,00,000 1,50,000 60%

Less: Tax 50% ? ? 75,000 ?

IV. Profit after Tax ? ? 75,000 60%

Fill the blank spaces.

33. Calculate Working Capital Turnover Ratio from the following information of Vinod Ltd: [4]
Rate of Gross Profit of Vinod Ltd. is 20% of the Revenue from Operations. Gross Profit was
Rs.5,00,000.
Equity Share Capital Rs.18,00,000 and Preference Share Capital Rs.7,00,000.

Page 11 of 12
USE -- ULTIMATE BOOK OF ACCOUNTANCY – FOR BEST BOARD RESULTS
CONTACT 77107-11722
Long-term Borrowings Rs.7,50,000 and Long-term Provisions Rs.2,50,000.
Fixed Tangible Assets Rs.19,00,000 and Fixed Intangible Assets Rs.3,50,000.
OR
Find out Current Ratio and Quick Ratio from the following:

Trade Receivables (Gross) 3,00,000

Inventories (including loose tools of Rs.20,000, stores & spares Rs.30,000) 90,000
Current Investment 1,20,000
Bank overdraft 70,000
Provision for Doubtful Debts 60,000
Cash Credit 30,000
Provision for Tax 40,000
Trade Payables 50,000
Outstanding Rent 10,000
..
34. (a) From the following information, Calculate Cash Flow from Investing Activities: [6]
Particulars 31.3.2024 31.3.2023
Machinery at cost 7,00,000 4,00,000
Accumulated Depreciation 1,50,000 85,000
Equity Sh. Capital 30,00,000 25,00,000
10% Debentures 10,00,000 6,00,000
Securities Premium 92,000 --
8% p.a. Bank Loan 5,00,000 3,00,000
Additional information:
Fresh Debentures were issued on 1st April 2023. Additional Bank Loan was taken on 1st Oct.
2023. A piece of Machinery costing Rs.90,000 on which accumulated depreciation was
Rs.10,000 was sold for Rs.1,00,000.

(b) From the following particulars, calculate Cash Flow from Investing Activities:
Particulars Purchased Sold
Machinery 11,00,000 50,000
Investments 5,00,000 1,00,000
Software 2,00,000 --
Patents -- 1,00,000
Interest received on debentures held as investment Rs.80,000. Dividend received on shares
held as investment Rs.20,000. A piece of land had been purchased for investment purpose and
was let out for commercial use and Rent received was Rs.50,000.

Page 12 of 12