CBSE Class-12 Marking Scheme for IOP/Comptt Examination 2017 : Accountancy
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CBSE Class-12 Marking Scheme for IOP/Comptt Examination 2017 :
Accountancy
CBSE Class-12 Marking Scheme for IOP/Comptt Examination 2017 : Accountancy (Delhi)
July -2016-17
Compartment Marking Scheme - Accountancy (Delhi) 67/1/1, 67/1/2, 67/1/3
Q. Set No. |
Marking Scheme Compartment 2016-‐17 Accountancy (055) Delhi – 67/1/1 Expected Answers / Value points |
Distribution of marks |
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67/ 1/1 |
67/ 1/2 |
67/ 1/3 |
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1 |
3 |
5 |
Q. Why should................................admission? Ans. A new partner should contribute towards the goodwill so as to compensate the existing partners for the sacrifice they make in favour of the new partner.
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1 Mark |
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2 |
4 |
6 |
Q. X,Y and Z.......................................date of Z’s retirement. Ans. Books of the X,Y,Z Journal |
1 Mark |
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Date |
Particulars |
LF |
Dr (` ) |
Cr (` ) |
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Z’s Capital A/c .........................................Dr. To Cash / Bank A/c To Z’s Loan A/c [Amount due to Z on his retirement transferred to his loan A/c after payment of Rs.5,000] |
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85,0000 |
5,000 80,000 |
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3 |
5 |
1 |
Q. State any................................................court’s orders. <--break-->Ans. The court may order a partnership firm to be dissolved on any of the following grounds: (any one of the following) (a) when a partner becomes insane; (b) when a partner becomes permanently incapable of performing his duties as a partner; (c) when a partner is guilty of misconduct which is likely to adversely affect the business of the firm; (d) when a partner persistently commits breach of partnership agreement; (e) when a partner has transferred the whole of his interest in the firm to a third party; (f) when the business of the firm cannot be carried on except at a loss; or (g) when, on any ground, the court regards dissolution to be just and equitable. |
1 Mark |
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4 |
6 |
2 |
Q. Change in ...............................................................of your answer. Ans. Change in Profit Sharing Ratio amounts to Dissolution of partnership and not dissolution of firm as the existing agreement comes to an end and the firm continues under the new agreement. |
½ ½ =1 Mark |
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5 |
1 |
3 |
Q. In which ratio.............................................. retiring partner? Ans. Remaining partners acquire the share of profit of the retiring partner in Gaining ratio. |
1 Mark |
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6 |
2 |
4 |
Q. What is meant...................................... Option Plan’? Ans. Employee Stock Option Plan means option granted by the company to its employees and employee directors to subscribe the shares of the company at a price that is lower than the market price. But it is not an obligation on the employee to subscribe for it. |
1 Mark |
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7 |
9 |
8 |
Q. The total capital............................. goodwill of the firm. Ans. Goodwill = Super Profits x No. of years’ purchase ; Super Profits = Average Profits – Normal Profits ; Normal Profits = Capital employed x Normal rate of Return 100 i.e. 1,00,000 x 15/100 = 15,000 Average Profits = 30,000 + 36,000 + 42,000 = 36,000
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1
1
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Super Profits = 36,000 -‐15,000 = 21,000 Goodwill = 21,000 x 2 = 42,000 |
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8 |
-‐ |
-‐ |
Q. Madhur Ltd. took over ........................................... of Madhur Ltd. Ans. Books of the Madhur Ltd. Journal |
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Date |
Particulars |
LF |
Dr. Amt. (` ) |
Cr. Amt. (` ) |
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(i) Assets A/c .......................................Dr. Goodwill A/c ..................................Dr. To Liabilities A/c To Rasova Ltd. [Assets and Liabilities of Rasova Ltd. taken over] |
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3,90,000 50,000 |
40,000 4,00,000
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(ii) Rasova Ltd. ....................................Dr. To Bank a/c To Equity share Capital A/c To Securities Premium Reserve A/c [ 20% Payment made to Rasova Ltd. by cheque and balance settled by issue of equity shares at a premium of 60%] OR Rasova Ltd. ....................................Dr. To Bank a/c (20% payment made to Rasova Ltd. By cheque) Rasova Ltd. Dr. To Equity Share Capital A/c To Securities Premium Reserve A/c (Balance due to Rasova Ltd. settled by issue of equity shares at a premium of 60%) |
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4,00,000
80,000
3,20,000 |
80,000 2,00,000 1,20,000
80,000
2,00,000 1,20,000 |
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9 |
-‐ |
-‐ |
Q. Xansa Ltd. offered ......................................................., prepare ‘ Notes to Accounts’. Ans. Balance Sheet of Xansa Ltd. As at ....................(As per revised schedule VI) Notes to Accounts : |
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Particulars |
( ` ) |
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(1) Share Capital Authorised Capital : .................equity shares of ` 100 each Issued Capital 22,000 equity shares of ` 100 each Subscribed Capital Subscribed and fully paid |
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22,00,000
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