Q.

In The Books of M/S Unitech

V-1
Machinery A/c
Cr.
Rs.
Date
Particular
Rs.
76000 6/30/1991 By Depreciation a/c
4000
4000
6/30/1991 By Balance C/d
76000
80000
80000
7/1/1991 To Balance b/d
76000 6/30/1992 By Depreciation a/c
11000
7/1/1991 To Bank A/c
30000 6/30/1992 By Balance C/d
95000
106000
106000

Dr.
Date
Particular
1/1/1991 To Bank A/c
1/1/1991 To Cash A/c
(Erection Chgs)

7/1/1992 To Balance b/d

6/30/1993 To Bank A/c

7/1/1993 To Balance b/d

95000
28000
123000
106000

6/30/1993 By Cash A/c

6000
6/30/1993 By Depreciation A/c
11000
6/30/1993 By Balance C/d
106000
123000

Dr.
Depreciation A/c
Date
Particular
Rs.
Date
6/30/1991 To Machinery A/c
4000 6/30/1991
4000
6/30/1992 To Machinery A/c
11000 6/30/1992
11000
6/30/1993 To Machinery A/c
11000 6/30/1993
11000

Cr.
Particular
Rs.
By Profit & Loss A/c
4000
4000
By Profit & Loss A/c 11000
11000
By Profit & Loss A/c 11000
11000

Q.2

Journal Of Kamlesh

Date
Particular
A)
Shanti A/c
To Nanda A/c
B) i) Ashok A/c .. DR
To Bills Receivable A/c
ii) Ashok A/c .. DR
To Interest A/c
iii) Cash A/c . DR
To Ashok A/c
iv) Bills Receivable A/c . DR
To Ashok A/c
C)
Cash A/c . .. DR
Rebate / Discount A/c .. DR
To Bills Receivable A/c
D) i) Sudhakar A/c .DR
To Bank A/c
E)
Bank A/c . DR
ii) Bank Charges A/c . DR
To Bills Sent for Collection A/c

Dr.
4100

Cr.

Marks

4100

4100
4100
99
99
800
800
3399
3399
11900
100

1
1
1
1
2

12000
4080
4080

2000

Particulars
To Sagar A/c
To Sagar A/c
Insurance 700
Freight
5300

In The Books of Aakash

Joint Venture A/c
Rs
Particulars
225000 By Badal A/c

To Cash A/c
To Cash A/c
Insurance 400
Other Exp. 500
To Badal A/c
Exp.
19600
Comm.
16800
To Profit on venture
Sagar A/c 70850
P & L A/c 70850

Rs
560000

6000
150000

900

36400

141700
560000

560000

1960
40

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal

Particulars
To Cash a/c
To Cash A/c
Final Settelement

Particulars
To Joint Venture A/c

Sagar A/c
Rs
Particulars
50000 By Joint Venture
By Joint Venture
251850 By Joint Venture
( Profit )
301850
Badal A/c
Rs
Particulars
560000 By Joint Venture a/c
By Sagar A/c
By Bills Receivable A/c
560000

Rs
225000
6000
70850
301850
Rs
36400
200000
323600
560000

Q.2
Journal Of Kamlesh
Date
Particular
Dr.
A)
Shanti A/c
4100
To Nanda A/c
B) i) Ashok A/c .. DR
4100
To Bills Receivable A/c
ii) Ashok A/c .. DR
To Interest A/c
iii) Cash A/c . DR
To Ashok A/c

Cr.
4100
4100

99
99
800
800

iv) Bills Receivable A/c . DR

3399
To Ashok A/c
3399
C)
Cash A/c . .. DR
11900
Rebate / Discount A/c .. DR
100
To Bills Receivable A/c
12000
D) i) Sudhakar A/c .DR
4080
To Bank A/c
4080
E)
Bank A/c . DR
1960
ii) Bank Charges A/c . DR
40
To Bills Sent for Collection A/c
2000
Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

Marks
2
1

1
2

Paper : A
Q.1

Paper B
Q.1

Journal Of Maharaja

Journal Of Prem

Date

B)

Particular
Sadashiv A/c
To Ayub A/c

Dr
2050

Pankaj
i)
A/c .. DR
To Bills Receivable A/c

1200

ii) Pankaj A/c .. DR

To Interest A/c
iii) Cash A/c . DR
To Pankaj A/c
iv)

C)

d)

Cr

Marks SR
A)
2050
2
B)i)
1200

1.5

24

1.5

400

1.5

824

1.5

24

ii)

400

Bills Receivable A/c . DR

To Pankaj A/c

824

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

5940
60

Bank A/c .. DR
To Bills Sent for Collection A/c

2000

iii)

iv)

C)
2
6000
D)
2000

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal

i)

Particular
Romeo A/c . DR
To Salim A/c

Dr
4080

Sunil A/c .. DR
To Bills Receivable A/c

3200

Sunil A/c Dr
To Interest A/c

60

Cash A/c . DR
To Sunil A/c

1260

Bills Receivable A/c . DR

To Sunil A/c

2000

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

7920
80

Kusum A/c
To Bank A/c

5030

Cr

Marks

4080

3200

1.5

60

1.5

1260

1.5

2000

1.5

2
8000

5030

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal

Paper : B
Q.1

Q.2

Journal Of Deepali
Date
Particular
Bills Receivable A/c . DR
To Rupali A/c

Dr
2000

Cr

Journal Of Amit
Particular
Sanjay A/c . DR
To Sumit A/c

SR
A)

2000

Bank A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

1900
100

Rupali A/c .. DR
To Bank
A/c

2000

B)

i)

Cr
24500

Bills Sent for Collection A/c

To Bills Receivable A/c

20000

Prakash A/c .. DR
To Bills Sent for Collection A/c

20000

Niraj A/c .. DR
To Bills Receivable A/c

10000

20000

2000
ii)

20000

2000
C)

Rupali A/c Dr
To Interest A/c

Dr
24500

i)

15

10000

15
ii)

Cash A/c . DR
To Rupali A/c

1015

Bills Receivable A/c . DR

1000

Niraj A/c Dr
To Interest A/c

150

Cash A/c . DR
To Niraj A/c

4000

150

1015
iii)

4000

To Rupali A/c

1000
iv)

Rupali A/c .. DR
To Bills Receivable A/c

1000

6150

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

3900
100

6150

1000
D)

Cash A/c .. Dr
Bad Debt A/c Dr
To Rupali A/c

Bills Receivable A/c . DR

To Niraj A/c

400
600

4000

1000

1.5 Marks for Each Correct entry

Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

1.5 Marks for Each Correct entry

Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

Paper : C
Q.1

Q.2

Journal Of Chandani
Date
Particular
Bills Receivable A/c . DR
To Suraj A/c

Dr
12000

Cr

Journal Of Suresh
Particular
Ramesh A/c . DR
To Sharada A/c

SR
A)

12000

Bank A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

11700
300

Suraj A/c .. DR
To Bank
A/c

12000

B)

i)

Sundar A/c .. DR
To Bills Receivable A/c

Dr
7600

Cr

Marks

7600

3400

1.5

50

1.5

850

1.5

2600

1.5

3400

12000
Sundar A/c Dr
To Interest A/c

ii)

50

12000
Cash A/c . DR
To Sundar A/c

iii)
Suraj A/c Dr
To Interest A/c

300

Cash A/c . DR
To Suraj A/c

3300

Bills Receivable A/c . DR

To Suraj A/c

9000

Suraj A/c .. DR
To Bills Receivable A/c

9000

Cash A/c .. Dr
Bad Debt A/c Dr
To Suraj A/c

3600
5400

850

300
iv)

Bills Receivable A/c . DR

To Sundar A/c

2600

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

13720
280

Gangadhar A/c .. DR
To Bank
A/c

3080

3300
C)
9000
D)
9000

1.5 Marks for Each Correct entry

Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

i)

9000

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal

2
14000

3080

Paper : D
Q.1

Q.2

Journal Of Aakash
Date
Particular
Bills Receivable A/c . DR
To Sagar A/c

Dr
30000

Cr

SR
A)

i)

30000

Bank A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

29500
500

Sagar A/c .. DR
To Bank
A/c

30000

Anju A/c Dr
To Interest A/c

ii)

Dr
4000

Cr

Marks

4000

20
20

1.5

2000

1.5

2020

1.5

8040

1.5

30000
iii)

Cash A/c . DR
To Anju A/c

2000

Bills Receivable A/c . DR

To Anju A/c

2020

Viju

8040

30000
iv)

Sagar A/c Dr
To Interest A/c

225

Cash A/c . DR
To Priti A/c

20225

Bills Receivable A/c . DR

To Sagar A/c

10000

Sagar A/c .. DR
To Bills Receivable A/c

10000

225
B)

A/c . DR
To Sujata A/c

20225
C)

Cash A/c .. Dr
Bad Debt A/c Dr
To Sagar A/c

Journal Of Manju
Particular
Anju A/c .. DR
To Bills Receivable A/c

10000
D)
10000

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

1180
20

Dubey A/c .. DR
To Bank
A/c

3000

6000
4000

1.5 Marks for Each Correct entry

Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

10000

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal

2
1200

3000

R-1
In the Books of Joint Venture
Joint Venture A/c
Particulars
Rs
Rs
Particular
To Joint Bank A/c
By Amar A/c
Pur. Of Material
650000
(Material Taken over)
Wages
195000
By Akbar A/c
Other Charges
25000 870000 (Mixed Takenover)
To Amar A/c (Arch. Fees)
20000 By Anthony A/c
To Akbar ( Machinery )
60000 (Truck )
To Anthony Truck)
50000 By Joint Bank A/c
(C.P.Recd. In Cash)
To Profit On Venture
By Shares in Abc A/c
Amar
322500
(C.P.Recd. In Deb.)
Akbar
215000
By Shares in Abc A/c
Anthony
107500 645000
(prem on Shares)
3:2:1

Paper- A

Q.1

1645000
Q.2
Particular
Joint Bank A/c Dr
To Asha A/c
To Nirasha A/c
Initial Contribution
Joint Venture A/c. Dr
To Asha A/c
Material Supplied
Joint Venture A/c. Dr
To Nirasha A/c
Architect Fees paid
Joint Venture A/c. Dr
To Joint Bank A/c
Material, Wages, Mixer
Joint Bank A/c Dr
To Joint Venture A/c
C.P.Recd in Cash
Nirasha A/c Dr.
To Joint Venture A/c
Material takenover
Joint Bank A/c Dr
To Joint Venture A/c
Mixer sold
Joint Venture A/c. Dr
To Asha A/c
To Nirasha A/c
Profit Transfer
Asha A/c . Dr.
Nirasha A/c Dr.
To Joint Bank A/c
Final Settlement

Journal Of Joint Venture

Dr.
Cr.
400000
225000
175000

30000
20000
1200000
300000
60000

Co-Venturer's A/c
Amar
Akbar
Anthony Particulars
Amar
35000
By Joint Bank A/c
560000
30000
By Joint Venture A/c
20000
20000 By Joint Venture A/c
360000
By Joint Venture A/c
507500 525000 277500 By Joint Venture A/c
322500
Profit on Venture
902500 555000 297500
902500
Joint Bank A/c
Particulars
Rs
Particular
Rs
To Amar A/c
560000 By Joint Venture A/c
870000
To Akbar A/c
280000 By Amar A/c
507500
To Anthony A/c
140000 By Akbar A/c
525000
To Joint Venture A/c 1200000 By Anthony A/c
277500
2180000
2180000

1645000

Marks
1 Mark

35000
35000

Rs
35000

Particulars
To Joint Venture
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Marking Scheme for Q.1

Joint Venture A/c
other amt 10 amt
Profit
total Mark

each amt
0.5 Mark
1 mark

total
5 marks
1 marks
6 marks

1 Mark

20000
20000

1 Mark

400000

2 Mark

500000

1 Mark

15000

1 Mark

400000

Co venture A/c
16 amt
0.25 marks 4 mark
Joint Bank A/c
8 amt
0.25 2 mark
instructions
0 marks for without question no.
0 marks if name of account is not written

500000

15000

Instruction for Q.2

15000

1 Mark
15000

90000
54000
36000
314000
216000

2 Mark

2 Mark
530000

Deduct 1/2 marks if narration is not written.

0 marks for without question no.

Akbar Anthony
280000 140000
60000
215000

50000
107500

555000

297500

R-1
In the Books of Joint Venture
Joint Venture A/c
Particulars
Rs
Rs
Particular
To Anand A/c (Material)
35000 By Devanand A/c
To Devanand ( Architect )
20000 (Material Taken over)
To Joint Bank A/c
By Joint Bank A/c
Pur. Of Material
280000
(C.P.Recd. In Cash)
Wages
120000 400000 By Shares in Abc A/c
(C.P.Recd. In Deb.)
To Profit On Venture
By Shares in Abc A/c
Anand
40000
(prem on Shares)
Devanand
40000
80000
( Equally )
535000

Paper - B

Q.2

Journal Of Joint Venture

Particular
Dr.
Cr.
Joint Bank A/c Dr
900000
To Raja A/c
540000
To Pradhan A/c
360000
Initial Contribution
Joint Venture A/c. Dr
565000
To Joint Bank A/c
565000
Material, Wages, Architect
Joint Venture A/c. Dr
60000
To Raja A/c
60000
Machinery Supplied
Joint Venture A/c. Dr
50000
To Pradhan A/c
50000
Architect Fees paid
Raja A/c Dr.
55000
To Joint Venture A/c
55000

Rs
15000
400000

Particulars
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

100000
20000

Particulars
To Anand A/c
To Devanand A/c
To Joint Venture A/c

535000

Co-Venturer's A/c
Devanand
Particulars
15000 By Joint Bank A/c
120000
By Joint Venture A/c
180000 220000 By Joint Venture A/c
By Joint Venture A/c
Profit on Venture
300000 235000
Joint Bank A/c
Rs
Particular
225000 By Joint Venture A/c
175000 By Anand A/c
400000 By Devanand A/c
800000

Anand

Q.1

Marks
1 Mark

2 Mark

Marking Scheme for Q.2

Joint Venture A/c
8 Amt X 1 Mark

8 marks

Co venture A/c
10 amt X 0.25 Mark 2.5 marks
Joint Bank A/c
6 amt X 0.25 Mark 1.5 Marks

1 Mark

1 Mark

Total
12 marks
instructions
0 marks for without question no.
0 marks if name of account is not written

1 Mark

Material & Machnery takenover

Pradhan A/c Dr
To Joint Venture A/c
Truck sold
Joint Bank A/c Dr
To Joint Venture A/c
C.P.Recd in Cash
Joint Venture A/c. Dr
To Asha A/c
To Nirasha A/c
Profit Transfer
Asha A/c . Dr.
Nirasha A/c Dr.
To Joint Bank A/c
Final Settlement

20000

1 Mark

Instruction for Q.1

20000
Deduct 1/2 marks if narration is not written.
0 marks for without question no.

1100000
1100000

1 Mark

300000
200000

2 Mark

500000

845000
590000

2 Mark
1435000
Total 12 Mark

Anand
Devanand
225000 175000
35000
20000
40000
40000
300000
Rs
400000
180000
220000
800000

235000

V-1
Q.1

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
To Joint Bank A/c
By Suresh A/c
Pur. Of Material
550000
(Material Taken over)
Wages
289000 839000 By Ramesh A/c
To Suresh A/c (Arch. Fees)
20000 (Mixed Takenover)
To Ramesh ( Machinery )
90000 By Umesh A/c
To Umesh Truck)
80000 (Truck )
Discount on Deb
By Joint Bank A/c
To Profit On Venture
(C.P.Recd. In Cash)
Suresh
158000
By Shares in CISCO A/c
Ramesh
105333
(C.P.Recd. In Deb.)
Umesh
52667 316000 By Shares in CISCO A/c
3:2:1
(prem on Shares)
1345000

Rs
35000
30000
20000

Particulars
To Joint Venture
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

900000
300000
60000
1345000

Paper - B
Q.1

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
To Joint Bank A/c
By Ena A/c
Pur. Of Material
350000
(Material Taken over)
Pur. Of. Plant
170000
By Mina A/c
Wages
67000
(Mixed Takenover)
Other Charges
15000 602000 By Joint Bank A/c
To Ena A/c (Truck)
40000 (Truck Sold)
To Mina ( Material )
55000
To Dika (Mixer)
50000 By Joint Bank A/c
(C.P.Recd. In Cash)
By Debentures A/c
(C.P.Recd. In Deb.)
To Profit On Venture
By Debentures A/c
Ena
130800
Profit on Deb
Mina
130800
Dika
65400 327000
2:2:1
1074000

Marking Scheme
Joint Venture a/c
Co-Venturer A/c
Joint Bank A/c

6 Marks
4 Marks
2 Marks

Total

12 Marks

Rs
5000
27000

Particulars
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Co-Venturer's A/c
Suresh RameshUmesh Particulars
Suresh
35000
By Joint Bank A/c
480000
30000
By Joint Venture A/c
20000
20000 By Joint Venture A/c
360000
By Joint Venture A/c
263000 485333 272667 By Joint Venture A/c
158000
Profit on Venture
658000 515333 292667
658000
Joint Bank A/c
Particulars
Rs
Particular
Rs
To Suresh A/c
480000 By Joint Venture A/c
839000
To Ramesh A/c
320000 By Suresh A/c
263000
To Umesh A/c
160000 By Ramesh A/c
485333
To Joint Venture A/c900000 By Umesh A/c
272667
1860000
1860000

RameshUmesh
320000 160000
90000
105333

80000
52667

515333 292667

Co-Venturer's A/c
Dika Particulars
By Joint Bank A/c
27000
By Joint Venture A/c
220000 By Joint Venture A/c
By Joint Venture A/c
565800 558800
95400 By Joint Venture A/c
Profit on Venture

Ena
Mina
Dika
400000 400000 200000
40000
55000
50000
130800 130800 65400

570800 585800

570800 585800 315400

Ena
5000

Mina

22000

800000
200000
20000

1074000

315400

Joint Bank A/c

Particulars
Rs
Particular
Rs
To Ena A/c
400000 By Joint Venture A/c
602000
To Mina A/c
400000 By Ena A/c
565800
To Dika A/c
200000 By Mina A/c
558800
To Joint Venture A/c22000 By Dika A/c
95400
To Joint Venture A/c800000
1822000

1822000

Q.1
In The Books of Ambika Sports Club
Income & Expenditure A/c For the year ended 31.03.2006
Expenditure
Rs.
Rs.
Income
To Loss on Sale of Furniture
500 BY Locker Rent
To Rent
1300
By Hire of Ground
Less: Prepaid Rent
100
1200 By Subscription
To Municipal Tax
500 Add : O/S Sub
To Insurance
900
By Interest on Invest
Less: Prepaid Insurance
450
450
To Stationery
300
To Wages
1400
Less: O/s of Last year
400
1000
To News paper
600
To Telephone Charges
500
To Furniture Repairs
400
To Depreciation
On Land & Building
700
On Furniture
330
1030
To Excess of income over
Expenditure ( Surplus)

Liabilities
Capital Fund
Add: Entrance Fees Cap.
Add :Surplus

Tournament fund
Add: Tournament fund Receipt
Advance Subscription

Q.2
Rs.

12500
1500

11020
17500

14000
1800

17500

Balance Sheet as on 31.03.2006

Rs.
Rs.
Assets
20000
Land & Building
Less:Depreciation
500
11020
31520 Furniture
Less: Sale of Furniture
2000
1000

Rs.
1000
700

Add: Purchase of Furniture

3000
Less: Depreciation
300 Investment
Add: Invest. Purchase
O/s Subscription
2004-05 ( L.Y.)
2005-06 (C.Y.)
Prepaid Rent
Prepaid Insurance
Cash on hand
34820

Rs.
14000
700
3000
1500
1500
5100
6600
330
4000
6000
200
1500

Rs.
13300

6270
10000

1700
100
450
3000
34820

In The Books of Mumbai Cricket Association

Balance Sheet as on 1.1.1998
Liabilities
Rs.
Rs.
Assets
Capital Fund
66830 Cash Balance
(Bal. Figure)
O/s Subscription
Stock of Stationery
Bank Overdraft
7000 Premises
O/s Salaries
200 Investment
Furniture
74030
Income & Expenditure A/c For the year ended 31.12.1998
Expenditure
Rs.
Rs.
Income
To Op. Stock of Stationery
180
By Subscription
Add: Pur. of Print & Stationery
Add: O/s Sub.
1780
1960
By Proceeds from Drama
Less: Cl. Stock of Stationery
200 1760 By Entrance Fees
To Salaries
10200
By Interest on Sec.
Less: O/s Sal. Of L.Y
200
10000
Add: O/s Sal. Of C.Y.
800 10800
To Postage & Telegram
2200
To Sundry Expenses
2800
To Depreciation on
Premises
5000
Furniture
1760
Sport Equipment
700 7460
To Excess of income over
Expenditure ( Surplus)
16730
41750
Balance Sheet as on 31.12.1998
Liabilities
Rs.
Rs.
Assets
Capital Fund
66830
Premises
Add :Entrance Fees cap.
Less: Depreciation
670
Add :Surplus
16730 84230 Furniture
Less: Sale of Furniture
Advance Subscription
O/s Salaries

300 Add: Pur. of Furniture

800
Less: Depreciation
Sports Equipment
Less: Depreciation
Investment
Add: Purchase of Invest
O/s Subscription
1997
1998
Cl. Stock of Stationery
Cash Balance
Bank Balance
85330

Rs.

Rs.
5000
850
180
50000
12000
6000
74030

Rs.
32400
3600

Rs.
36000
4080
670
1000

41750
Rs.
50000
5000
6000
200
5800
3000
8800
1760
3500
700
12000
6800
250
3600

Rs.
45000

7040
2800
18800

3850
200
640
7000
85330

Q.1

In The Books of Chembur Sports Club

Balance Sheet as on 1.4.1981
Liabilities
Rs.
Rs.
Assets
Capital Fund
74700 Cash Balance
(Bal. Figure)
Land & Building
Investment
Bank Overdraft
6000 Furniture
O/S Subscription
Stock of Stationery
80700

Q.2

Rs.

Income & Expenditure A/c For the year ended 31.03.1982

Expenditure
Rs.
Rs.
Income
Rs.
To Op. Stock of Stationery
500
By Subscription
36400
Add: Pur. of Print & Stationery
Add: O/s Sub.
1700
3000
2200
By Income from Drama
Less: Cl. Stock of Stationery
150
2050 By Entrance Fees
To Salaries & Wages
15200
By Interest on Sec.
Add: O/s Sal. Of C.Y.
500
15700
To Insurance
300
To Cost of Standing Drama
3000
To General Expenses
3000
To Depreciation on
Land & Building
3000
Furniture
300
3300
To Excess of income over
Expenditure ( Surplus)
20450
47800
Balance Sheet as on 31.03.1982
Liabilities
Rs.
Rs.
Assets
Rs.
Capital Fund
74700
Land & Building
60000
Add :Surplus
20450
95150 Less: Depreciation
3000
Furniture
6000
Less: Sale of Furniture
300
5700
Advance Subscription
400 Add: Pur. of Furniture
3200
O/s Salaries
500
8900
Less: Depreciation
300

Rs.
3200
60000
10000
6000
1000
500
80700

Rs.
39400
6000
1400
1000

47800
Rs.

In The Books of Vikas Vidya Mandir

Income & Expenditure A/c For the year ended 31.12.1999
Expenditure
Rs.
Rs.
Income
To Office Expenses
5200 By Tution Fees
To Salaries
14000
Less : O/s Tution Fees of L.Y.
Less: O/s Salaries of L.Y.
1000
13000
Add : O/S Tution fees of C.Y.
Add: O/s salaries of C.Y.
5000
18000 By Term Fees
To Rent
2700
By Government Grant
Add: Prepaid Rent as on L.Y.
500
3200 By Misc. Receipt
To Sundry Expenses
4900 By profit on sale of furniture
To Stationery
2400
By Interest on Investment
Less:Closing Stk of Stationery
600
1800 Add: o/s Interest on Investment
To Annual Gathering Exp.
2000
To Insurance
3250
Less: Prepaid Insurance
1625
1625
To Depreciation on
Furniture
Laboratory
Library
To Excess of income over
Expenditure ( Surplus)

Liabilities
Capital Fund
Add :Surplus

96050

10000
8000
200
3000

33435
77000

Balance Sheet as on 31.12.1999

Rs.
Rs.
Assets
50900
Furniture
33435
84335 Less: Sale of Furniture

8600

18000

3200
150
9100
96050

3000
15000

53000
12000
8000
1100
500
2400

77000

Add: Pur. of Furniture

Building Fund
Add: Donation for
Building Fund

1000
1400

Rs.

6840

57000

O/s Salaries of C.Y.

Investment
Add: Purchase of Invest
O/s Subscription
1980-81
1981-82
Cl. Stock of Stationery
Cash Balance

3640
2000
1200

Rs.
50000
2000
48000
5000

Less: Depreciation 10%

Laboratory
18000 Less : Depreciation 20%
Library
Less : Depreciation 10%
5000
10 % Investment
Add: 8% Investment purchased
( on 1.7.1999)
O/s Interest on Investment
O/s Tution Fees of C.Y
Closing Stock of Stationery
Prepaid Insurance
Closing Cash Balance

107335

Rs.
8400
2000
6400
30000
36400
3640
10000
2000
12000
1200
20000
10000

Rs.

32760
8000
10800

30000
1400
5000
600
1625
17150
107335

Q.4 Final Account

Trading a/c for the year ended 31.03.2007
Particulars
Rs.
Rs.
Particulars
To Opening Stock
20000 by sales
to purchase
25000 by closing stock
to wages
5000
by goods destroyed
add: o/s wages
1000
6000
by fire
to power & fule
3000
to gross profit
66000
120000
Profit & Loss a/c for the year ended 31.03.2007
to salaries
8000
By Gross profit
add : o/s salaries
2000
10000 by commission
To advertisement
6000
by disc
less: prepaid advt
4000
2000
to insurance
2000
to RBDD A/c
new bad debt
2000
add : new RDD
550
2550
to interest on shriram
loan
1200
To Depreciation
Building
1500
P&M
1500
3000
To Loss by fire
2000
to interest on capital
Shriram
2000
Shridhar
1500
3500
To net profit trfr a/c
shriram
shridhar
45250
71500

Liabilities
Capital a/c
Shriram
shridhar
Creditors
Shriram's Loan
add: interest on loan
o/s Rent
o/s wages
o/s salaries

Balance Sheet as on 31.03.2007

Rs
Rs.
Assets
Land & Building
Less Dep @ 5 %
62625
51125
113750 plant &Machinery
Less Dep @ 10 %
21000 Furniture
Bills Receivable
20000
Debtors
1200
21200 Less : New Bad debt
1000 Less: New RDD
1000 Prepaid advertisement
2000 cash in hand
cash at bank
closing stock
insurance claim
159950

V-3
Rs.

Rs.
60000
50000
10000

120000
66000
5000
500

71500

Rs.
30000
1500
25000
1500

13000
2000
11000
550

Rs.
28500
23500
16000
8000

10450
4000
10000
1500
50000
8000
159950

Q.1
Dr.
Date
Particular
4/1/2001 To Bank A/c
4/1/2001 To Cash A/c
(Erection Chgs)
4/1/2002 To Balance b/d
10/1/2002 To Bank A/c

4/1/2003 To Balance b/d

4/1/2004 To Balance b/d

In The Books of M/S Samsung

R-2
Machinery A/c
Rs.
Date
Particular
572000 3/31/2002 By Depreciation a/c
28000
3/31/2002 By Balance C/d
600000
540000 3/31/2003 By Depreciation a/c
250000 3/31/2003 By Balance C/d
790000
723500

7/1/2003
7/1/2003
3/31/2004
3/31/2004

By Cash A/c
By Profit & Loss A/c
By Depreciation A/c
By Balance C/d

723500
505350

Cr.
Rs.
60000
540000
600000
66500
723500
790000

B)

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
To Joint Bank A/c
Pur. Of Material
370000
Wages
30000
Pur. Of. Plant
35000
Truck
70000
505000
To Sandhya A/c (Brick)
15000
To Ranjana (Sundry Exp.)
10000
To Kalpana Frieght)
5000

iii) Cash A/c . DR

To Sunder A/c

Cr

Marks

7600

3400

1.5

60

1.5

1000

1.5

2460

1.5

3400

60

1000

Bills Receivable A/c . DR

To Sunder A/c

2460

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

13720
280

Cr.
Particular
By Profit & Loss A/c
By Profit & Loss A/c
By Profit & Loss A/c

Rs.
60000
60000
66500
66500
60200
60200

C)

d)

Gangadhar A/c
To Bank A/c

2
14000

3080
3080

Deduct 1/2 Marks for Entry without Narration

Give 0 Marks for Incorrect name of Journal
Particular
Rs
By Sandhya A/c
10000
(Material Taken over)
By Ranjana A/c
15000
(Plant Takenover)
By Joint Bank A/c
40000
(Truck Sold)

By Joint Bank A/c

500000
(C.P.Recd. In Cash)
30000 By Debentures A/c
300000
(C.P.Recd. In Deb.)

300000
865000

Sunder
i)
A/c .. DR
To Bills Receivable A/c
ii) Sunder A/c .. DR
To Interest A/c

150000
7950
60200
505350
723500

Q.3

150000
100000
50000

Journal Of Suresh
Date
Particular
Dr
A)
Ramesh A/c
7600
To Sharada A/c

iv)

Dr.
Depreciation A/c
Date
Particular
Rs.
Date
3/31/2002 To Machinery A/c
60000 3/31/2002
60000
3/31/2003 To Machinery A/c
66500 3/31/2003
66500
3/31/2004 To Machinery A/c
60200 3/31/2004
60200

To Debentures A/c
Discount on Deb
To Profit On Venture
Sandhya
Ranjana
Kalpana
3:2:1

Q.2

865000

Particulars
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Particulars
To Sandhya A/c
To Ranjana A/c
To Kalpana A/c
To Joint Venture A/c
To Joint Venture A/c
To Kalpana A/c

Co-Venturer's A/c
Sandhya Ranjana
KalpanaParticulars
10000
By Joint Bank A/c
15000
By Joint Venture A/c
3E+05 By Joint Venture A/c
By Joint Venture A/c
455000
345000
By Joint Venture A/c
Profit on Venture
By Joint Bank A/c
465000
360000 3E+05
Joint Bank A/c
Rs
300000
250000
200000
40000
500000
15000
1305000

Particular
By Joint Venture A/c
By Sandhya A/c
By Ranjana A/c

Sandhya RanjanaKalpana
300000 250000
200000
15000
10000
5000
150000 100000
50000

465000 360000

Rs
505000
455000
345000

1305000

15000
270000

Date
1

Journal Of Giridhar
Particular
Bills Receivable A/c .Dr
To Shridhar A/c

Dr.
24000

Cr.

In The Books of Sun

Joint Venture A/c
Rs
Particulars
180000 By Joint Venture A/c
1900
276000
2100

Mark

24000

1.5 Marks

24000

1.5 Marks

24000

1.5 Marks

(Being Bill Drawn and acceptance

Received)
2

Murlidhar A/c .. Dr.

To Bills Receivable A/c

24000

Being Bill Endorsed

3

Shridhar A/c .Dr

To Murlidhar A/c

24000

(Being Endorsed bill cancelled for Renewal)

4

Shridhar A/c .Dr

To Interest A/c
Bank A/c ..Dr
To Shridhar A/c

19000

To Profit on venture
P&L A/c
48400
Moon A/c
72600
(2:3)

121000
600000

Rs
600000

200
200

1.5 Marks

12000

1.5 Marks

12200

1.5 Marks

(Being Interest charged )

5

Particulars
To Cash A/c
To Cash A/c
To Moon A/c
To Moon A/c
To Aakash A/c
Godown Rent 2000
Advt. Exp.
5000
Comm.
12000

12000

600000

(Being Part payment received by chq)

6

Bills Receivable A/c .Dr

To Shridhar A/c

12200
Particulars
To Aakash A/c
To Aakash A/c
To Cash A/c
Final Settelement

(Being new Bill Drawn and acceptance

Received for Balance incl interest)
7

Bill Sent for Collection A/c . Dr

12200

To Bills Receivable A/c

12200

1.5 Marks

(Being bill sent for collection)

8

Bank A/c ..Dr

Bank Charges A/c Dr
To Bill Sent for Collection A/c

12100
100
12200

Particulars
To Joint Venture A/c

1.5 Marks

(being Bill honoured and bank chgs

debited by Bank

Moon A/c
Rs
Particulars
150000 By Joint Venture
95000 By Joint Venture
105700 By Joint Venture
( Profit )
350700
Aakash A/c
Rs
Particulars
600000 By Moon A/c
By Joint Venture a/c
By Moon A/c
By Bills ReceivableA/c

Journal ( In the Books of Joint Venture)

Particular
Dr.
Cr.
Joint Bank A/c Dr
400000
To Sagar A/c
225000
To Pankaj A/c
175000
Initial Contribution
Joint Venture A/c. Dr
35000
To Sagar A/c
35000
Material Supplied
Joint Venture A/c. Dr
20000
To Pankaj A/c
20000
Architect Fees paid
Joint Venture A/c. Dr
400000
To Joint Bank A/c
400000
Material, Wages,
Joint Bank A/c ... Dr
400000
Shares in Patil & Co. A.c .Dr
100000
To Joint Venture A/c
500000
C.P.Recd in Cash & Shares
Sagar A/c . Dr
100000
To Shares in Patil & Co. A/c
100000

600000

Date
Particular
A)
Sadashiv A/c
To Ayub A/c

1 Mark

Cr
2050

Marks
2 marks

2050

B) i) Pankaj A/c .. DR
To Bills Receivable A/c

1200

1.5 marks

1200

(Being Bill cancelled for renewal)

1 Mark

ii)

Pankaj A/c .. DR
To Interest A/c

24
24

1.5 marks

400

1.5 marks

824

1.5 marks

(Being Interest charged )

2 Mark

iii)

Cash A/c . DR
To Pankaj A/c

400

(Being Part payment received by cash)

iv) Bills Receivable A/c . DR

To Pankaj A/c

2 Mark

824

(Being new Bill Drawn and acceptance

1 Mark

Received for Balance incl interest)

C)

2 Mark

2 Mark

400000

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

Bank A/c ..Dr

Bank Charges A/c Dr
To Bill Sent for Collection A/c
(being Bill honoured and bank chgs

12 Mark

5940
60
6000

2 marks

(Being Bill retired before one month

(Discount Allowed 12% p.a.)

debited by Bank
Total

Dr

(Being Endorsed bill dishonour & N.C )

D)
190000
210000

Rs
150000
19000
95000
336000
600000

Journal Of Maharaja
2 Mark

60000
30000
30000

350700

Marks

Shares taken over by sagar at par value

Joint Venture A/c. Dr

To Sagar A/c
To Pankaj A/c
Profit Transfer
Sagar A/c . Dr.
Pankaj A/c Dr.
To Joint Bank A/c
Final Settlement

Rs
276000
2100
72600

1960
40

2 marks

2000

Q.1

In The Books of Jalaram Mill

( Paper A )
Machinery A/c
Cr.
Rs.
Date
Particular
32000 3/31/2002 By Depreciation a/c
15000
1000 3/31/2003 By Balance C/d
48000
To Balance b/d
43200 3/31/2003 By Depreciation a/c
To Bank A/c
20000 3/31/2004 By Balance C/d
63200
To Balance b/d
57600
1/1/2004 By Cash A/c
1/1/2004 By Profit & Loss A/c
1/1/2004 By Depreciation A/c
3/31/2005 By Depreciation A/c
3/31/2005 By Balance C/d
57600
To Balance b/d
38000

Dr.
Date
Particular
4/1/2001 To Balance b/d
10/1/2001 To Bank A/c
10/1/2001 To Cash A/c
4/1/2002
3/31/2003
4/1/2004

4/1/2005

Dr.
Date
Particular
3/31/2002 To Machinery A/c
3/31/2003 To Machinery A/c
1/1/2004 To Machinery A/c
3/31/2004 To Machinery A/c

Q.2
Date
A)
B)

C) i)
ii)
iii)
iv)
D) i)
ii)

Depreciation A/c
Rs.
Date
4800 3/31/2002
4800
5600 3/31/2003
5600
1200
6000 3/31/2004
7200

Journal Of Rajesh
Particular
Dr.
Mohan A/c
16400
To Suresh A/c
Cash A/c . .. DR
5800
Discount A/c .. DR
200
To Bills Receivable A/c
Vinod A/c .. DR
15000
To Bills Receivable A/c
Vinod A/c .. DR
250
To Interest A/c
Cash A/c . DR
5000
To Vinod A/c
Bills Receivable A/c . DR
10250
To Vinod A/c
Bill Sent for Collection A/c Dr.
12000
To Bills Receivable A/c
Mukesh
A/c .. DR
12200
To Bills Sent for Collection A/c
Deduct 1/2 Marks for Entry without Narration
Give 0 Marks for Incorrect name of Journal

Cr.

By Profit & Loss A/c

2
3

6000
15000
250
5000
10250

Rs.
4800
43200
48000
5600
57600
63200
12000
400
1200
6000
38000
57600

Cr.
Particular
Rs.
By Profit & Loss A/c
4800
4800
By Profit & Loss A/c
5600
5600

Marks

16400

Q.3

1
1
1
1

12000

1.5

12200

1.5

7200
7200

In The Books Of Joint Venture

Journal
Date
Particulars
Dr.
Joint Bank A/c .
DR
400000
1
To Sagar A/c
To Pankaj A/c
Contribution
Joint Venture A/c DR
35000
2
To Sagar A/c
Supplied Materials
Joint Venture A/c DR
20000
3
To Pankaj A/c
Paid for Architect Fess
Joint Venture A/c DR
400000
4
To Joint Bank A/c
Paid for Materials, wages, plant
Joint Bank A/c .
DR
400000
5
Shares in Patil & Co. A/c..DR
100000
To Joint Venture A/c
C. P. Received in Cash & Shares
Sagar A/c. Dr
130000
6
To Shares in Patil & Co. A/c
Shares taken over
Shares in Patil & Co. A/c..DR
30000
7
To Joint Venture A/c
Profit on Shares
Pankaj A/c ..Dr
15000
8
To Joint Venture A/c
Material takenover
Joint Bank A/c ..Dr
50000
9
To Joint Venture A/c
Plant Sold
Joint Venture A/c
140000
10
To Sagar A/c
To Pankaj A/c
Profit Transfer
Sagar A/c Dr
200000
11 Pankaj A/c .. Dr
250000
To Joint Bank A/c
Final Settlement

Cr.

Marks.

225000
175000

1 Mark

35000

1 Mark

20000

1 Mark

400000

1 Mark

500000

1 Mark

130000

1 Mark

30000

1 Mark

15000

1 Mark

50000

1 Mark

70000
1.5 marks
70000

1.5 marks
450000

V-2
Q.2

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
To Apple A/c (Material)
45000 By Orange A/c
To Orange ( Architect )
10000 (Material Taken over)
To Joint Bank A/c
By Joint Bank A/c
Pur. Of Material
180000
(C.P.Recd. In Cash)
Plant
100000
By Shares in Abc A/c
Wages
120000
400000 (C.P.Recd. In Deb.)
To Profit On Venture
By Shares in Abc A/c
Apple
180000
(prem on Shares)
Orange
270000
450000 By Joint Bank A/c
( Equally )
( Plant sold)
905000

Rs
15000
700000

Particulars
To Joint Venture
To Shares of Co. A/c
To Joint Bank A/c
( Final Settlement)

100000
30000
60000
905000

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
Rs
To Joint Bank A/c
By Sun A/c
5000
Pur. Of Material
180000
(Material Taken over)
Pur. Of. Plant
45000
By Moon A/c
27000
Wages
73000
(Mixed Takenover)
Other Charges
11000
309000 By Joint Bank A/c
22000
To Sun A/c (Truck)
40000 (Truck Sold)
To Moon ( Material )
55000
To Neptune (Mixer)
10000 By Joint Bank A/c
600000
(C.P.Recd. In Cash)
To Shares of Co A/c
20000 By Shares of Co A/c
200000
(C.P.Recd. In Sh.)
To Profit On Venture
Sun
168000
Moon
168000
Neptune
84000
420000
2:2:1
854000
854000

Particulars
To Apple A/c
To Orange A/c
To Joint Venture A/c
To Joint Venture A/c

Paper - A
Co-Venturer's A/c
ParticularsApple
Orange
15000 By Joint Bank A/c
225000
175000
130000
By Joint Venture A/c
45000
320000
440000 By Joint Venture A/c
10000
By Joint Venture A/c 180000
270000
Profit on Venture
450000
455000
450000
455000
Joint Bank A/c
Rs
Particular
Rs
225000 By Joint Venture A/c
400000
175000 By Apple A/c
320000
700000 By Orange A/c
440000
60000
1160000
1160000

Apple

Orange

Q.1

Particulars
To Joint Venture
To Joint Venture
To Shares of Co.A/c
To Joint Bank A/c
Final Settlement

In the Books of Joint Venture

180000
323000

508000

Moon

Co-Venturer's A/c
Neptune Particulars
By Joint Bank A/c
27000
By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
396000
194000 By Joint Venture A/c
Profit on Venture
423000

Joint Bank A/c

Rs
300000
200000
100000
22000
600000
1222000

Particulars
To Sun A/c
To Moon A/c
To Neptune A/c
To Joint Venture A/c
To Joint Venture A/c

V-2
Q.2

Sun
5000

Sun
300000
40000

168000

168000

508000

423000

Rs
309000
323000
396000
194000
1222000

Paper - A
Co-Venturer's A/c

200000
55000

194000

Particular
By Joint Venture A/c
By Sun A/c
By Moon A/c
By Neptune A/c

Moon

Particulars
To Sun A/c (Material)
To Moon ( Architect )
To Joint Bank A/c
Pur. Of Material
Plant
Wages
To Profit On Venture
Sun
Moon
( Equally )

Joint Venture A/c

Rs
Rs
Particular
35000 By Moon A/c
20000 (Material Taken over)
By Joint Bank A/c
180000
(C.P.Recd. In Cash)
100000
By Shares in Abc A/c
120000
400000 (C.P.Recd. In Deb.)
By Shares in Abc A/c
96000
(prem on Shares)
144000
240000 By Joint Bank A/c
( Plant sold)
695000

Rs
15000
500000

Particulars
To Joint Venture
To Shares of Co. A/c
To Joint Bank A/c
( Final Settlement)

100000
20000
60000
695000

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
Rs
To Joint Bank A/c
By Tina A/c
5000
Pur. Of Material
250000
(Material Taken over)
Pur. Of. Plant
45000
By Mina A/c
27000
Wages
73000
(Mixed Takenover)
Other Charges
11000
379000 By Joint Bank A/c
22000
To Tina A/c (Truck)
40000 (Truck Sold)
To Mina ( Material )
55000
To Jina (Mixer)
10000 By Joint Bank A/c
800000
(C.P.Recd. In Cash)
To Shares of Co A/c
30000 By Shares of Co A/c
200000
(C.P.Recd. In Sh.)
To Profit On Venture
Tina
216000
Mina
216000
Jina
108000
540000
2:2:1
1054000
1054000

Particulars
To Sun A/c
To Moon A/c
To Joint Venture A/c
To Joint Venture A/c

Sun

Moon

ParticularsSun
Moon
15000 By Joint Bank A/c
250000
175000
120000
By Joint Venture A/c
35000
261000
324000 By Joint Venture A/c
20000
By Joint Venture A/c
96000
144000
Profit on Venture
381000
339000
381000
339000
Joint Bank A/c
Rs
Particular
Rs
250000 By Joint Venture A/c
400000
175000 By Sun A/c
261000
500000 By Moon A/c
324000
60000
985000
985000

Q.1

Particulars
To Joint Venture
To Joint Venture
To Shares of Co.A/c
To Joint Bank A/c
Final Settlement

Tina
5000
170000
381000

556000

Particulars
To Tina A/c
To Mina A/c
To Jina A/c
To Joint Venture A/c
To Joint Venture A/c

Mina

Co-Venturer's A/c
Jina
Particulars
By Joint Bank A/c
27000
By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
444000
218000 By Joint Venture A/c
Profit on Venture
471000

Joint Bank A/c

Rs
300000
200000
100000
22000
800000
1422000

Tina
300000
40000

200000
55000

218000

Particular
By Joint Venture A/c
By Tina A/c
By Mina A/c
By Jina A/c

Mina

216000

216000

556000

471000

Rs
379000
381000
444000
218000
1422000

Q.3

In the Books of Joint Venture of NANA,MAMA,CHACHA

Paper B
Joint Venture A/c
Particulars
Rs
Rs
Particular
To Joint Bank A/c
By NANA A/c
20000
Pur. Of Material
370000
(Material Taken over)
Wages
30000
By MAMA A/c
15000
Pur. Of. Plant
35000
(Plant Takenover)
Truck
70000
505000 By Joint Bank A/c
50000
To NANA A/c (Brick)
15000 (Truck Sold)
To MAMA (Sundry Exp.)
10000
To CHACHA Frieght)
5000 By Joint Bank A/c
500000
(C.P.Recd. In Cash)
To Debentures A/c
30000 By Debentures A/c
300000
Discount on Deb
(C.P.Recd. In Deb.)
To Profit On Venture
NANA
128000
MAMA
128000
CHACHA
64000
320000
2:2:1
885000
885000

In The Books of Shalu

Joint Venture A/c
Particulars
Rs
Rs
To Cash A/c
480000 By J/V A/c
To Cash A/c
10000
To Ms.Malu A/c
200000
To Ms.Malu A/c
Frieght
7000
Insurance
1000
8000
To Ms.Chalu A/c
Exp.
15000
Comm.
30000
45000
To Profit on venture
P&L A/c
128500
Ms.Malu A/c
128500
257000
Equally
1000000

Particular
1000000

Give 0 Marks for Incorrect name of account

Particulars
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Particulars
To NANA A/c
To MAMA A/c
To CHACHA A/c
To Joint Venture A/c
To Joint Venture A/c

Particulars
To Ms.Chalu A/c

Particulars
To Joint Venture A/c

1000000

Co-Venturer's A/c
NANA
MAMA
CHACHA
20000
15000
270000
523000

373000

543000

388000
Joint Bank A/c
Rs
400000
250000
300000
50000
500000
1500000

Ms.Malu A/c
Rs
Particulars
655000 By Joint Venture
By Joint Venture
By Cash
By Joint Venture
( Profit )
By Cash
655000
Ms.Chalu A/c
Rs
Particulars
1000000 By Joint Vent A/c
By Bank A/c
By Ms.Malu A/c
1000000

Particulars
By Joint Bank A/c
By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
99000 By Joint Venture A/c
Profit on Venture

369000

Particulars
By Joint Venture A/c
By NANA A/c
By MAMA A/c
BY CHACHA A/c

Rs
200000
8000
20000
128500
298500
356500
Rs
45000
300000
655000
1000000

Q.1

In the Books of Joint Venture of ENA,MINA,DIKA

Paper A
Joint Venture A/c
Particulars
Rs
Rs
Particular
To ENA A/c (Blue print)
5000 By ENA A/c
15000
To MINA (plant & Equip.)
60000 (Material Taken over)
To DIKA (Vehicle)
22000 By Joint Bank A/c
50000
To Joint Bank A/c
(plant Sold)
Pur. Of Material
400000
By Dika A/c
12000
Wages
30000
(vehicle takenover)
Pur. Of. Plant
35000
other charges
2000
467000 By Joint Bank A/c
400000
(C.P.Recd. In Cash)
To Debentures A/c
45000 By Debentures A/c
300000
Discount on Deb
(C.P.Recd. In Deb.)
To Profit On Venture
ENA
71200
MINA
71200
DIKA
35600
178000
2:2:1
777000
777000

Give 0 Marks for Incorrect name of account

Particulars
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Particulars
To ENA A/c
To MINA A/c
To DIKA A/c
To Joint Venture A/c
To Joint Venture A/c

ENA
MINA
15000

Co-Venturer's A/c
DIKA

255000
461200

126200

476200

381200
Joint Bank A/c
Rs
400000
250000
300000
50000
400000
1400000

Particulars
By Joint Bank A/c
12000 By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
345600 By Joint Venture A/c
Profit on Venture
357600

Particulars
By Joint Venture A/c
By ENA A/c
By MINA A/c
BY DIKA A/c

Q.2
In The Books of MALU
Joint Venture A/c
Particulars
Rs
Rs
To Shalu A/c
480000 By J/V A/c
To Shalu A/c
10000
To Cash A/c
200000
To Cash A/c
Freight
7000
Insurance
1000
8000
To Ms.Chalu A/c
Exp.
15000
Comm.
30000
45000
To Profit on venture
Ms.shalu A/c
128500
P&L A/c
128500
257000
Equally
1000000

Particular
1000000

Particulars
To Cash A/c
To Ms.Chalu A/c
To Cash

Particulars
To Joint Venture A/c

1000000

Ms.Shalu A/c
Rs
Particulars
20000 By Joint Venture
300000 By Joint Venture
By Joint Venture
298500
( Profit )
618500
Ms.Chalu A/c
Rs
Particulars
1000000 By Joint Vent A/c
By Shalu A/c
By Bank A/c
1000000

Rs
480000
10000
128500
618500
Rs
45000
300000
655000
1000000

Neptune
100000

10000
84000

194000

Jina
100000

10000
108000

218000

NANA
MAMA CHACHA
400000 250000
300000
15000
10000
5000
128000 128000
64000

543000 388000

Rs
505000
523000
373000
99000
1500000

369000

ENA
MINA DIKA
400000 250000
300000
5000
60000
22000
71200 71200
35600

476200 381200

Rs
467000
461200
126200
345600
1400000

357600

Q.3

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
Rs
To Joint Bank A/c
By Pyarelal A/c
5000
Pur. Of Material
250000
(Material Taken over)
Pur. Of. Plant
45000
By Manilal A/c
27000
Wages
77000
(Mixed Takenover)
Other Charges
11000
383000 By Joint Bank A/c
22000
To Pyarelal A/c (Truck)
40000 (Truck Sold)
To Manilal ( Material )
55000 By Joint Bank A/c
500000
To Mohanlal (Mixer)
10000 (C.P.Recd. In Cash)
To Profit On Venture
By Shares of Co A/c
200000
Pyarelal
130400
(C.P.Recd. In Sh.)
Manilal
130400
By Shares of Co A/c
60000
Mohanlal
65200
326000
2:2:1
814000
814000

In The Books of Raymond mill

Dr.
Machinery A/c
Cr.
Date
Particular
Rs.
Date
Particular
Rs.
4/1/2001 To Balance b/d
34000 3/31/2002 By Depreciation a/c
5000
10/1/2001 To Bank A/c
31000
10/1/2001 To Cash A/c
1000 3/31/2002 By Balance C/d
61000
66000
66000
4/1/2002 To Balance b/d
61000 3/31/2003 By Depreciation a/c
6100
3/31/2003 To Bank A/c
20000 3/31/2003 By Balance C/d
74900
81000
81000
4/1/2003 To Balance b/d
74900 3/31/2004 By Cash A/c
26460
3/31/2004 To Profit & Loss A/c
1836 3/31/2004 By Depreciation A/c
7490
3/31/2004 By Balance C/d
42786
76736
76736
4/1/2004 To Balance b/d
42786

Particulars
To Joint Venture
To Joint Venture
To Shares of Co.A/c
To Joint Bank A/c
Final Settlement

Q.1

SR
1

5
Dr.
Date
Particular
3/31/2002 To Machinery A/c
3/31/2003 To Machinery A/c
3/31/2004 To Machinery A/c

Depreciation A/c
Rs.
Date
5000 3/31/2002
5000
6100 3/31/2003
6100
7490 3/31/2004
7490

Particular
By Profit & Loss A/c
By Profit & Loss A/c
By Profit & Loss A/c

Cr.
Rs.
5000
5000
6100
6100
7490
7490

Co-Venturer's A/c
Pyarelal Manilal Mohanlal Particulars
5000
By Joint Bank A/c
27000
By Joint Venture A/c
130000
130000 By Joint Venture A/c
By Joint Venture A/c
235400 358400
45200 By Joint Venture A/c
Profit on Venture

370400 385400 175200

Joint Bank A/c
Particulars
Rs
Particular Rs
To Pyarelal A/c
200000 By Joint Venture A/c
To Manilal A/c
200000 By Pyarelal A/c
To Mohanlal A/c
100000 By Manilal A/c
To Joint Venture A/c
22000 By Mohanlal A/c
To Joint Venture A/c
500000
1022000
Q.2
Journal Of Lumbuji
Particular
Dr
Cr
Tinguji A/c..Dr
4000
To Sales A/c
4000
Being goods sold on credit
Bills Receivable A/c ..Dr
4000
To Tinguji A/c
4000
Being Bill Drawn
Mr.Chotelal A/c ..Dr
4000
To Bills Receivable A/c
4000
Being Bill endorsed
Tinguji A/c..Dr
4120
To Mr.Chotelal A/c
4120
Being bill dishonoured with nc
Tinguji A/c..Dr
180
To Interest A/c
180
being interest charged
Bills Receivable A/c ..Dr
4300
To Tinguji A/c
4300
Being new Bill Drawn
Tinguji A/c..Dr
4300
To Bills Receivable A/c
4300
Being 2nd bill dishounour
Cash A/c . DR
860
Bad Debt A/c.. Dr
3440
To Tinguji A/c
4300

Pyarelal Manilal Mohanlal

200000 200000
100000
40000
55000
10000
130400 130400
65200

370400 385400

383000
235400
358400
45200
1022000

175200

Answer sheet for V-1 Bk paper A taken on 10-07

Q.3
In the Books of Joint Venture
Joint Venture A/c
Particulars
Rs
Rs
Particular
Rs
To Joint Bank A/c
By Rajesh A/c
35000
Pur. Of Material
650000
(Material Taken over)
Wages
295000
945000 By Brijesh A/c
30000
To Rajesh A/c (Arch. Fees)
20000 (Machinery Takenover)
To Brijesh ( Machinery )
60000 By Ramesh A/c
20000
To Ramesh Truck)
50000 (Truck )
To Debentrue in Co A/c
30000 By Joint Bank A/c
1200000
To Profit On Venture
(C.P.Recd. In Cash)
Rajesh
240000
By Debenture in co.A/c 300000
Brijesh
160000
(C.P.Recd. In Deb.)
Ramesh
80000
480000
3:2:1
(prem on Shares)
1585000
1585000
Q.1
In The Books of Raymond mill
Dr.
Machinery A/c
Cr.
Date
Particular
Rs.
Date
Particular
Rs.
4/1/2003 To Balance b/d
75000 3/31/2004 By Depreciation a/c
13800
7/1/2003 To Bank A/c
62000
7/1/2003 To Cash A/c
2000 3/31/2004 By Balance C/d
125200
139000
139000
4/1/2004 To Balance b/d
125200 3/31/2005 By Depreciation a/c
15400
3/31/2005 By Balance C/d
109800
125200
125200
4/1/2005 To Balance b/d
109800 10/1/2005 By Cash A/c
39000
10/1/2005 By Profit & Loss A/c
13500
10/1/2005 By Depreciation A/c
4500
3/31/2006 By Depreciation A/c
6400
10/1/2005 By Balance C/d
46400
109800
109800
10/2/2005 To Balance b/d
46400
Dr.
Date
Particular
3/31/2004 To Machinery A/c
3/31/2005 To Machinery A/c
10/1/2005 To Machinery A/c
3/31/2006 To Machinery A/c

Depreciation A/c
Rs.
Date
13800 3/31/2004
13800
15400 3/31/2005
15400
4500
6400 3/31/2006
10900

Particular
By Profit & Loss A/c
By Profit & Loss A/c

By Profit & Loss A/c

Cr.
Rs.
13800
13800
15400
15400
10900
10900

Particulars
To Joint Venture
To Joint Venture
To Joint Venture
To Debenture in co A/c
To Joint Bank A/c
Final Settlement

SR
1

Co-Venturer's A/c
Rajesh Brijesh Ramesh
35000
30000
20000
270000
495000 550000 290000

800000 580000
Joint Bank A/c
Particulars
Rs
To Rajesh A/c
540000
To Brijesh A/c
360000
To Ramesh A/c
180000
To Joint Venture A/c
1200000
2280000
Q.2
Journal Of Tina
Particular
Dr
Cr
Bills Receivable A/c ..Dr
12000
To Mina A/c
12000
Being Bill Drawn
Bank A/c. Dr
11700
Discount A/c Dr
300
To Bills Receivable A/c
12000
Being Bill Discounted
Mina A/c..Dr
12200
To Bank A/c
12200
Being bill dishonoured with nc
Mina A/c..Dr
300
To Interest A/c
300
being interest charged
Cash A/c . DR
4300
To Mina A/c
4300
Being part payment received
Bills Receivable A/c ..Dr
8000
To Mina A/c
8000
Being new Bill Drawn
Mina A/c..Dr
8000
To Bills Receivable A/c
8000
Being 2nd bill dishounour
Cash A/c . DR
4800
Bad Debt A/c.. Dr
3200
To Mina A/c
8000

Particulars
By Joint Bank A/c
By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
By Joint Venture A/c
Profit on Venture

310000
Particular
By Joint Venture A/c
By Rajesh A/c
By Brijesh A/c
By Ramesh A/c

Rajesh Brijesh Ramesh

540000 360000
180000
20000
60000
50000
240000 160000
80000
800000 580000
Rs
945000
495000
550000
290000
2280000

310000

Answer sheet for V-1 Bk paper B taken on 10-07

Journal Of Giridhar
Particular
12-Mar Bills Receivable A/c .Dr
To Shridhar A/c

Q.1
Dr.
24000

Cr.
24000

Dr.
Date
1/1/1983
1/1/1983
7/1/1983

24000

1/1/1984

(Being Bill Drawn and acceptance

Received)
12-Mar

Murlidhar A/c .. Dr.

To Bills Receivable A/c

24000

In The Books of M/s Hond

Machinery A/c
Particular
Rs.
To Bank A/c
58000
To Cash A/c
4000
To Bank A/c
20000
( Installetion Chgs.)
82000
To Balance b/d
74800

Being Bill Endorsed

12-Jun

Shridhar A/c .Dr

To Murlidhar A/c

24000
24000

(Being Endorsed bill cancelled for Renewal)

12-Jun

Shridhar A/c .Dr

To Interest A/c

1/1/1985 To Balance b/d

9/30/1985 To Cash / Bank A/c

74800
66600
15000

200
200

(Being Interest charged )

12-Jun

Bank A/c ..Dr

To Shridhar A/c

12000
12000

1/1/1986 To Balance b/d

81600
64700

(Being Part payment received by chq)

12-Jun

Bills Receivable A/c .Dr

To Shridhar A/c

12200
12200

(Being new Bill Drawn and acceptance

Received for Balance incl interest)
12-Jun

Bill Sent for Collection A/c . Dr

To Bills Receivable A/c

12200
12200

(Being bill sent for collection)

14-Aug

Bank A/c ..Dr

To Bill Sent for Collection A/c

12200
12200

(being Bill honoured on due date

Journal Of Maharaja
Particular
Sadashiv A/c
To Ayub A/c
B)

i)Pankaj A/c .. DR
To Bills Receivable A/c
ii) Pankaj A/c .. DR
To Interest A/c
iii) Cash A/c . DR
To Pankaj A/c

iv)

C)

d)

Dr
2050

Cr
2050

1200
1200
24
24
400
400

Bills Receivable A/c . DR

To Pankaj A/c

824

Cash A/c . .. DR
Discount A/c .. DR
To Bills Receivable A/c

5940
60

Bank A/c .. DR
To Bills Sent for Collection A/c

2000

824

6000

2000

Dr.
Depreciation A/c
Date
Particular
Rs.
######## To Machinery A/c
7200
7200
######## To Machinery A/c
8200
8200
9/30/1985 To Machinery A/c
900
######## To Machinery A/c
7800
8700

Q.1
Dr.
Date

In The Books
Machinery
Particular
4/1/2001 To Bank A/c
4/1/2001 To Cash A/c
(Erection Chgs)
4/1/2002 To Balance b/d
10/1/2002 To Bank A/c

4/1/2003 To Balance b/d

Paper - A
4/1/2004 To Balance b/d
Dr.

Depreciation A/c
Date
Particular
3/31/2002 To Machinery A/c
3/31/2003 To Machinery A/c
3/31/2004 To Machinery A/c

n The Books of M/s Honda Motors

Machinery A/c
Cr.
Date
Particular
Rs.
12/31/1983 By Depreciation A/c
7200
12/31/1983 By Balance C/d
12/31/1984 By Depreciation A/c
12/31/1984 By Balance C/d
9/30/1985
9/30/1985
9/30/1985
12/31/1985
12/31/1985

By Cash A/c
By Profit & Loss A/c
By Depreciation A/c
By Depreciation A/c
By Balance C/d

74800
82000
8200
66600
74800
6250
1950
900
7800
64700
81600

SR

epreciation A/c
Date
Particular
12/31/1983 By Profit & Loss A/c
12/31/1984 By Profit & Loss A/c

12/31/1985 By Profit & Loss A/c

Cr.
Rs.
7200
7200
8200
8200
8700
8700

Q.1
Journal Of Sunny
Particular
Dr
Tony A/c..Dr 3000
1
To Sales A/c
Being goods sold on credit
Bills Receivable A/c
3000
..Dr
2 To Tony A/c
Being Bill Drawn
Bony A/c ..Dr 3000
3 To Bills Receivable A/c
Being Bill endorsed
Tony A/c..Dr 3020
To Bony A/c
Being bill dishonoured with nc
Tony A/c..Dr
130
To Interest A/c
being interest charged
Bills Receivable A/c
3150
..Dr
To Tony A/c
Being new Bill Drawn
Tony A/c..Dr 3150
7 To Bills Receivable A/c
Being 2nd bill dishounour
Cash A/c . DR
630
8 Bad Debt A/c.. Dr2520
To Tony A/c

In The Books of M/S Samsung

Machinery A/c
Rs.
Date
572000
3/31/2002
28000
(Erection Chgs)
3/31/2002
600000
540000
3/31/2003
250000
3/31/2003
790000
723500

7/1/2003
7/1/2003
3/31/2004
3/31/2004

723500
505350

60000
60000
66500
66500
60200
60200

Cr.
Particular
Rs.
By Depreciation
60000
a/c
By Balance540000
C/d
600000
By Depreciation
66500
a/c
By Balance723500
C/d
790000
By Cash A/c
150000
By Profit & Loss
7950
A/c
By Depreciation
60200
A/c
By Balance505350
C/d
723500

Cr.
Date

Rs.

R-2

Particular
Rs.
3/31/2002 By Profit & Loss
60000
A/c
60000
3/31/2003 By Profit & Loss
66500
A/c
66500
3/31/2004 By Profit & Loss
60200
A/c
60200

nal Of Sunny

Q.2
Cr

SR
A) i)

3000

ds sold on credit

ii)
3000
B) i)
3000

ii)
iii)

3020
dishonoured with nc
130

3150

iv)
c)

D) i)
ii)

3150

bill dishounour

3150

Journal Of Rakesh
Particular
Dr
Cr
Bill Sent for Collection
3000 A/c .. Dr
To Bills Receivable A/c 3000
Vrushali A/c ...
3030
Dr
To Bill Sent for Collection3000
A/c
To Bank A/c
30
Surekha A/c ..
3400
DR
To Bills Receivable A/c 3400
Surekha A/c ..50
DR
To Interest A/c
50
Cash A/c . DR
850
To Surekha A/c
850
Bills Receivable A/c
2600
. DR
To Surekha A/c
2600
Cash A/c . ..
11880
DR
Rebate / Discount 120
A/c .. DR
To Bills Receivable A/c 12000
Ramanand A/c ..Dr
6000
To Bills Receivable A/c 6000
Cash A/c . DR
3600
Bad Debt A/c.. Dr2400
To Ramanand A/c
6000

Q.1

In the Books of Joint Venture

Joint Venture A/c
Particulars
Rs
Rs
Particular
To Joint Bank A/c
By Suresh A/c
Pur. Of Material
550000
(Material Taken over)
Wages
289000
839000 By Ramesh A/c
To Suresh A/c (Arch. Fees)
20000 (Mixed Takenover)
To Ramesh ( Machinery )
90000 By Umesh A/c
To Umesh Truck)
80000 (Truck )
Discount on Deb
By Joint Bank A/c
To Profit On Venture
(C.P.Recd. In Cash)
Suresh
158000
By Shares in CISCO A/c
Ramesh
105333.3333
(C.P.Recd. In Deb.)
Umesh
52667
316000 By Shares in CISCO A/c
3:2:1
(prem on Shares)
1345000

Rs
35000
30000
20000
900000
300000
60000
1345000

Particulars
To Joint Venture
To Joint Venture
To Joint Venture
To Debenture A/c
To Joint Bank A/c
Final Settlement

Co-Venturer's A/c
Apate
Ramesh Umesh
Particulars
35000
By Joint Bank A/c
30000
By Joint Venture A/c
20000 By Joint Venture A/c
360000
By Joint Venture A/c
263000 485333.3 272666.7 By Joint Venture A/c
Profit on Venture
658000 515333.3 292666.7
Joint Bank A/c
Particulars
Rs
Particular
To Suresh A/c
480000 By Joint Venture A/c
To Ramesh A/c
320000 By Suresh A/c
To Umesh A/c
160000 By Ramesh A/c
To Joint Venture A/c
900000 By Umesh A/c
1860000

Suresh
Ramesh Umesh
480000
320000
160000
20000
90000
80000
158000 105333.3 52666.67
658000 515333.3 292666.7
Rs
839000
263000
485333.3
272666.7
1860000