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CPT-MODEL TEST PAPER

SOLUTIONS VOL I &VOL II
BY PANKAJ SIR
[Type the author name]
14
ACCOUNTS CLASSES BY PANKAJ SIR
TABLE OF CONTENTS
CPT-MODULE-VOLUME I-MODLE TEST PAPER 1 .............................................................................................................................. 3

MODEL TEST PAPER 2 ....................................................................................................................................................................... 5
MODEL TEST PAPER 3 ....................................................................................................................................................................... 7
MODEL TEST PAPER 4 ....................................................................................................................................................................... 9
MODEL TEST PAPER-5 ..................................................................................................................................................................... 10
MODEL TEST PAPER-6 ..................................................................................................................................................................... 12
MODEL TEST PAPER-7 ..................................................................................................................................................................... 13
MODEL TEST PAPER 8 ..................................................................................................................................................................... 15
MODEL TEST PAPER 9 ..................................................................................................................................................................... 17
MODEL TEST PAPER 10 ................................................................................................................................................................... 20
MODEL TEST PAPER 11 ................................................................................................................................................................ 20
MODEL TEST PAPER 12 ................................................................................................................................................................ 21
MODEL TEST PAPER 13 ................................................................................................................................................................... 23
MODEL TEST PAPER 14 ................................................................................................................................................................ 24
MODEL TEST PAPER 15 ................................................................................................................................................................ 28
MODEL TEST PAPER 16 ................................................................................................................................................................ 33
MODEL TEST PAPER 17 ................................................................................................................................................................ 36
MODEL TEST PAPER 18 ................................................................................................................................................................ 40
MODEL TEST PAPER 19 ................................................................................................................................................................ 43
MODEL TEST PAPER - 20 ................................................................................................................................................................. 48
VOLUME II ....................................................................................................................................................................................... 51
MODEL TEST PAPER 1 ..................................................................................................................................................................... 51
MODEL TEST PAPER 2 ..................................................................................................................................................................... 53
MODEL TEST PAPER 3 ..................................................................................................................................................................... 55
MODEL TEST PAPER 4 ..................................................................................................................................................................... 57
MODEL TEST PAPER 5 ..................................................................................................................................................................... 58
MODEL TEST PAPER 6 ..................................................................................................................................................................... 60
MODEL TEST PAPER 7 ..................................................................................................................................................................... 62
MODEL TEST PAPER 8 ..................................................................................................................................................................... 63
MODEL TEST PAPER-9 ..................................................................................................................................................................... 64
MODEL TEST PAPER 10 ................................................................................................................................................................... 66
All rights reserved with Author
9811860116
Page 2

CPT-MODULE-VOLUME I-MODLE TEST PAPER 1
Q 23:-COGS = O/STOCK+ PURCHASES+ DIRECT EXPENSES-C/STOCK;80,700 = 5,800+X-6,000;80,900/-(X = Purchases)
Q24:- SLM:Depreciation = (Cost-Salvage)/N = (126000-6000)/6 = 20000 PA
Q 25:TRADING A/C
PURCHASES
90,000
SALES
120,000
CARRIAGE INWARD
6,000
C/S
12,000
GP
36,000
132,000
132,000
Q 26 Abnormal Loss= (Cost of goods:300,000+ expenses:5,000)*1/10-3,000 = 30,500-3,000=27,500/Q 27
JV
A-10,000
15,000-V
A-1,000
2,000-V
V-1,000
Profit:5,000
Q 28
B/R
20,000
BANK 19,900
TO X 20,000
DISCOUNT100
TO B/R 20,000
DISHONOUR
X
20,000
TO BANK
20,000(ANS IS 20000)
Q 29 3500(CP)-800(CP)=2,700
Q30 Interest on Capital(IOC)
A
B
PROFIT 7,800(Interest not subtracted as profit is after interest)
PROFIT
4680 3,120
3/5
2/5
Q 31
A
5/8
7/16
3/16
Q 32
Q33
Q34
B
3/8
5/16
1/16
500-100-50-125+400=1,625=PASS BOOK
OR-OLD RATIO
NR-NEW RATIO
4/16
SR-SACRIFICING RATIO
3:1
CASH BOOK( O/D)
(GOD)
AS PER COST CONCEPT
*10000+1000+500+1200=12,700(second hand so, all expenses added)
CORRECT T/B
WRONG
PURCHASE RETURN 84
SALES RETURN 84
SUPP 84
SUPP 84
168 DEBIT MORE THAN CREDIT
35
CORRECT TB
SALES
15000
PURCHASE
10000
EXP
2500
*SALARIES
2500
WRONG PLACING OF SALARIES A/C IS ANS
36 GW = 29600+28700+28900+24000+26800 X 3 = 82,800;D SHARE =4/16*82,800=20,700
5
9811860116
Page 3

37
Share Capital 2000X9= 18000(ANS IS D)

TO Share Forfeiture 2000X5
TO CALL IN ARREAR 2000X4
38 CAPITAL REDEMPTION RESERVE= FV OF PREF SHARE CAPITAL -NEW ISSUE =2000X100-1500X100= 50000
39
20000X10X20/100
= 40000 ; LOSS; N=5; LOSS =8000 PA = 40000/5 =8000/40
12500 = Abnormal Loss; Invoice Price X1/10 = 12500; Invoice Price = 125000
41
Purchase Consideration/issue Price=200000/80 = 2500 shares; Value =2500*100=2,50,000
42
Share Capital 30X6
TO Share Forfeiture
30X2
TO Share Allotment
30X3
TO DISCOUNT 30X1
30
43 (51000+20000+25000)*3/16 = 18000
44 A+B = 45000;45000 = X-1/5X;45000=4/5X ; X = 45000X5/4;X= 45000X5/4;X= 56250 X C SHARE;56250X1/5=11250
45
C 35000X1/3 11667
TO A
5833
TO B
5834
THUS, NO VALUE OF GW AS ADJUSTED THROUGH PARTNER CAPITAL A/CS
46
INTEREST ON LOAN
4800
6000 By Profit
To Profit to Partners1200
X
Y
Z
400
400
400
+ INTEREST ON LOAN + 4800
X
Y
Z
400
5200
400
47 STOCK (COST) 200X100-1/5=16000
48 35000 less 35000X2/100;34300;30000 through bill ,thus;4300 in CASH
49 STOCK(COST) 100000=100000+25%=125000(expenses not added as not old typewriter)
50
45000
LOSS(10%)
54000 =2/3 sold i.e. 36000 at 20% so, 36000+7200=43200
CP
+ 1/3(15000)=60000
6000
51 1.10.08
1200
1600
300
900
400
31.12.10
30.9.09
1200
30.9.10
31.12.09
1300/52
53
9811860116
05-06,06-07,07-08,08-09,09-10, thus total five years, thus 1+2+3+4+5=15, so 1/15*300000=20000

average stock=(O/S+C/S)/2 = 12000;O/S+C/S = 24000; X+X+3000 = 24000 2X=21000;X=10500, C/S= 13500
Page 4

54 C/S = 45-32=13;AS FIFO;13;
10
6 march
55
57
58
59
60
3
4 march
10X460+3X450 = 5950
CB
PB
INSAAN
GOD
1500
50+50
- 100 + 150= 1550
100
1650
expenses means which will be in P and L, so, 25000+5000 = 30000(extension and improvement not to be considered)
DEBTOR-MOHAN 3500,CASH
2100
TO MOHAN(a/C RECIVABLE)
2100
Share Capital 2000X9=18000
30000X4/5 = 6000X2
2/3 8000
= 12000
1/3 4000
MODEL TEST PAPER 2

23 (D) 20000810*20%=40000;40000/5 = 8000PA
24 (A) CAPITAL REDEMPTION RESERVE= FV OF PREF SHARE CAPITAL -NEW ISSUE = 2000X100-1500X100 = 50000
25 (A) 750000/100+25= 6000 SHARES
26 (D) (500000-40000)15% = 69000(Called Less Arrears)
27 (A) NO OF SHARES 80L/100 = 80000 SHARES, Amount PAID ON -77500, so,NOT PAID on2500 ,thus,62500/2500=25 per
share
28 (B) 20% PROFIT ON SALES=25% PROFIT ON COST
29 (C) 3/10X30000 = 9000
30 (A)
Loan account 70820 B/D
50000
RESERVE
15000X2/5 = 6000
GW
= 30000X2/5 = 12000
Revaluation
7050X2/5 = 820
31 (C)
A
B
C
B/D
50000
30000
GR
9000
6000
59000
36000
25000
C= 25000X6= 150000;GW= 30000X1/6= 5000 ;
GW 5000
25000
20000
32 (A)
P
Q
R
GW
9000
4500
2/3
1/3
3000
1500
33 (D)
OR
A
B
C
9811860116
Page 5
SR
NR
5/8
3/8
1/5
1/10
(25-8)/40
(30-8)/80
34:22:24 = 17:11:12
5000 GW;
*1/4*total GW=5000;40,000
A
B
C
10000
20000
12000
C = 12000X4 = 48000
HIDDEN = 48000-42000=6000
36 (A)
A
B
C
OR
5/8
3/8
NR
1/6
5/16
4/16
SR
3/16
1/16
3:1
37 (A)3/5 4680 (7800 is divided)
3/10
34 (B)
35 (A)
= 42000
2/5 3120
38 (A) 200X100 1/5 = 16,000
39 (B) 16/6________30 DAYS_________16/7 +3 DAYS= 19/7 = 18 JULY
40 (A) 1.11.09________________15.11.09________________4/1 DISHONOURED 25000X50/100 = 12500
41 (A) 8000-4000 = 4000X12/100X3/12 = 120
42 (A) 35000-2%(700) = 34300-30000= 4300
43 (A) 50000X12/100X3/12 = 1500 = 48500/2 = 24250
44 1LX20% = 20000 ,3/5*20000=12000
45 (C)
R-100000
M-200000
R-1000
M-5000
R-5000
M-10000
PROFIT-80000
46 (A)
JV
A_200000
B-250000
82000
B-32000
47 (B) 15000
48 (A)
2/100X70000+X = 1400+X;= 2833,X IS CALCULATED BELOW:
X= 20/100[70000-(1400+X)-3/5X100000]
X= 1/5(70000-1400-X-60000);5X = 8600-X;6X =8600;X = 1433
49 *
TRADING
1000X100
BY GOODS SENT
50 (A)
CONSIGNMENT
GOODS-200000
CASH SALES-100000
CONSIGNOR EXP-5000
CREDIT SALES-110000
CONSIGNEE EXP-2000
STOCK-40000
-COMMISION-3000
DEL CREDERE-2000
PROFIT-38000
9811860116
Page 6

51 (B)
52 (B)
500X200+5000=105000X1/5 = 21000
COGS 310000
400000-SALES
GP 90000
53 (C) SALES= 2000;SALES-GP= COGS;2000-1/5X2000 = 1600
54 (A) (120000+10000)X10%= 13000
55 (B) MACHINERY
1.4.2009 B/D 60000
31.3.10 BY DEPRECIATION 12000
1.4.2010 48000
BY DEP 4800(6)
BY BANK 30000
BY P/L 13200
56 (C)
COGS 1200000
SALES 1300000
GP 325000
C/S 225000
57 (B)
B/D 180000
COGS = 420000+25%=
PURCHASES 330000 525000 SALES
C/D = 90000
MODEL TEST PAPER 3

6 (D)
ASSETS = LIABILITIES +CAPITAL

5L-1L
4L
Assets AND Liability INCREASE BY 4L
23 (B) 90000+115000+265000+100000+200000 = 770000
24 (D)
6
___________ X126000 = 12/42X126000 = 2X18000 = 36000/6(6+1)/2
25 (B) SALES-COGS = 90000
26 (C)
100000
80000
GP 25% of sales=20000
40000(bal)
27
20000
60000
40000
28 40% OF 50000 = 20000
29 (D) 12000 = (O/S+C/S)/2 = O/S+C/S = 24000=X+X+3000 = 24000;2X = 21000, X= 10500, C/S = 13500
30 (C) 12L/15%-8L = 80,00,000 8,00,0000=72L
31 (A)
A
B
C
OR
5/8
3/8
NR
7/16
5/16
4/16
SR
3/16
1/16
3:1
32 (C)
OD Cash Book 1500-275+400 = 1625
33 (D)
12700 ( 10000+1500+1200) COST CONCEPT
34 (C)
22000
25000
110000
9811860116
Page 7

COGS = 107000; SALES = 107000+107000*=133750
36 (B) 85000+90000+70000+100000+80000 X 3 =255000
5
37 (A)
Stock 80000
Purchases 160000
GP 50000
Sales 200000
30000-LOSS
60000 C/S
290000
290000
38 (D)
Stock 20000
Sales 140700
purchases85800
Stock 18000
carriage 2300
GP 50600
39
7,50,000/125 = 6000 SHARES
40 (B) 12500X10 = 125000
41 (B) 4L/(100-20) = 5L
42 (C) 5000X100X20% = 1L/10 = 10000/43 (C) 4500X6 = 27000
44 (B) (42000+39000+45000)/3X2= 84000
45 (A) 280000X3/12 = 70000
46 (A)
Purchases
200000
Sales 250000
Commission on purchases
2000
Commission on sales
12500
PROFIT
35500
47 (D)
(130000-5000)/5 = 25000
48 35000-30000-2% *35000=4300
49
STOCK = (1000X200+2000+3000)*1/5
50 (A) 55000X2 = 110000
51 (C)
3_____________________9________________________3
1.10.08
2400
1800
800
31.12.08
1.10.09
31.12.09
320
2600
52 (B) 2L+1/5*200000 = 240000
53 (B) 240000X3/12X4/16 = 24000/16 = 1500
54 (A) _____________________________________________
2L
4/5
160000- SOLD 176000
2% OF 160000 + 10% 16000(176000-160000)
3200+1600 = 4800
55 (D)
CB
1500
BANK (GOD)
-100
50
+150
50
9811860116
Page 8

1550
100
1650
57 (C)
58 (A)
6L
3L
B/R
15100
CASH 5000
TO L 20000
TOINT
100
60 (B)
180000
120000
12000(30000X2/5)
8000
4000
MODEL TEST PAPER 4

23 (D)
24 (B)
25 (C)
26 (A)
27 (D)
29 (D)
30 (B)
31 (B)
32 (A)
33 (D)
34 (C)
35 (A)
36 (B)
37 (C)
38 (C)
39 (B)
40 (C)
41 (B)
42 (B)
43 (B)
9811860116
NIL AS BUSINESS STARTED

DEBTORS
55200-200 = 55000*5%= 2750
40000X.230975 = 9239
72900/72.9X100 = 100000 (s=c(1-d)^n);72900=c(1-.1)^3
280000X11/12 = 256,667
420X10000/14000 = 300 ALLOTED SHARES
SC 8X200 = 1600-CALLED UP
R
J
D
7/16
5/16
4/16
24000X4/12X3/12 = 1500
55000X2 = 110000
12700
12000+20 = 12020
40000(CP)________________50000(SP) = 10000/40000 = OF COST
2500(LEFT)+1/4625 = 3125
200X5.5X5/100 = 55
M
S
5/8
3/8
GW = 1.5 X (18000-8500+30000+16500) / 4 = 21000
SF- 100X6 = 600
BAL AS PER CB(INSAAN) 5000+2000-1500-20 = 5480
6%/100X30000 = 1800X3/12=450
DR -30000-3000=27000
10%-----------------2700
___________________________
A
B
1000
500
= 1500X6.5X10% = 975
A
B
3/5
2/5
IOC 2000
Profit 3900
A-1250
B-650
Page 9

45 (A)
46 (B)
47 (C)
48 (C)
8000-2000 = 6000X18%X3/12 = 270 ; =6270

(56000-6000)/10 = 5000/6/10X120 = 720
A
B
40000
50000
10%
4000/2
5000/2; 4500
49 (A) GW = SP-AP;= 60000-12.5/100X4L;
= (6000-50000)X2
= 20000
50 (B) 1 JAN 2009-2,00,000-20%*200000=160000-20%*160000*6/12=144000;SALE 160000;PROFIT 16000
51(C)
A
=
L
+
C
50000
50000
20000
20000
-3000
+3600
600
_______
70600
20000 +
50600
52 (C) 31/3___________________________15/4;3L+ 80000-50000-330000
SELLS(1L-20%)
53 (D)
RADIO-1L
SALES 120000
EXPENSES 5000
STOCK 5250(105000/100*5)
PROFIT 20250
55 (A) _________________________________________________
4/3
900
900X5
5/3
600X5
300X5
10/3
400
300X5 + 400X5.5
12/3
400X5.5
300x5=1500
56 (C) 10000+1/4=12500 AS OLD NOT WRITTEN SO EXP ARE NOT ADDED
57 (B) 1L-5000 = 95000
MODEL TEST PAPER-5

23 (D)
24 (D)
25 (A)
26 (A)
(5L-40000)15% = 69000;
ALLOTED SHARES = 420X14000/10000 = 300
60%*2000X(100+45) = 174000
CB(CORRECT)
B/D
CASH/BANK
10000
1870
(CB)WRONG
INCREASE BY 90
B/D
10000
BANK
1780
8220
27 * 1000X275/100 = 2750+5% =2887.5+50; 2937.5/-,FOR 1 PIECE;2937.5/1000=2.9375
28 (B)
CP 50000-30% 18000;IP 60000-70% 42000
_____________________________
5%
2%
3%
3000
360
300 = 3660
9811860116
Page 10

29 (D)
30 (D)
31 (A)
32 (B)
33
34 (C)
35 (A)
36 (B)
37 (D)
38 (D)
39 (C)
40(A)
41 (B)
42 (C)
43 (A)
44 (D)
45 (b)
46 (c)
2000+1000+5000+9000/12+27000/6 = 13250
10000+NC = 10200;
120000-80000= 40000X100/125 = 32000
A
B
C
IT HAS TO BE EQUAL,SO 50000 EACH
2L+25000+5000+2000
= 232000
A
Y
P
100000
75000
50000
PROFIT 250000; 6% ON 20000 = 1200
240000 -160000=80000 LEFT + ;PROFIT = (240000-160000)/160000= ;THUS 80000+40000= 120000
FV-APPLICATION-ALLOTMENT-FIRST CALL-DISCOUNT;10-2-4-1-1=2 RS PER SHARE
75000/3X3/12 = 6250
AS PREMIUM RECEIVED AT THE TIME OF ALLOTMENT;SO NOTHING WILL BE DEBITED
6%
25000X10 = 250000
5L/80 = 6250X100
PROFIT= AMOUNT RECIVED LESS LOSS ON REISSUE=3000-1X2000 = 1000
SLM
WDV
2000
2000
2000
1600
4000
3600 ;SO, 400 EXCESS
25000-3000-440(2%*22000)-215.6 1%*(22000-440) = 21344.4
2/10 = 20000
2000x12
36000
47 (D)
48 (C)
49 (B)
50 (B)
51
52 (D)
53 (D)
55
60000
12000 12000 12000

+24000
(10000X100)/(100-5) = 1L/95 = 10526
30000X1/2 = 15000
120000 = 120000+1/4 = 150000(EXP ADDED ONLY IF OLD TYPEWRITER)
5000X10 = 50000(DEBENTURE PREMIUM SEC 78)
CRR = FY-NI;= 100000-0;= 1L
I CALL; 25000X2 LESS ADVANCE BY ARCHIT= 50000-1000X2 = 48000
20000
1200 ____10%/6 MONTH----- 60[1140+500 = 1640-82 =1558
18800 1880 = 16920+1558=18478
CB
PB
(INSAAN)
(GOD)
1500-100+150 = 1550
50+50 = 100
1650
57 (C)
9811860116
Page 11

COST OF GOODS AVAILBLE
FOR SALE 12L
GP 325000;1/4
58 (B)
59 (C)
13L
225000
7000-1800-200-2850-150 = 2000;(1800/90% = 2000-1800 = 200 DISCOUNT);2850/95% = 3000

PROFIT 44000/(100+10) = 40000;COMM4000
MODEL TEST PAPER-6

23(B)
24 (B)
25 (D)
26 (C)
A
OR
3/5
SR
2/10
NR
4/10
(40000+50000+60000+50000)/4X3 = 150000
75000/15 = 5000
A
B
3/5
22/5 150000X1/6 = 25000
B
2/5
1/10
3/10
3/10 = 4:3:3
27 (A)
28 (B)-
30000-5000 =
40000-5000
10000
FURNITURE
1.4
10000
1000
1.10
5000
1000
5000X6/12*10% = 250
1000+250=1250
29 (B)
100X100 + 1000 X 10 = 1100
100
30 (C)
SHARE FORFEITURE = 1000X3.5 = 3500
31 (C)
60 LAKHS/120 = 5000
32 (C)
1LX100 X (4%+6%) = 10L
33 (B)
O
J
J
OR
5/10
3/10
2/10
NR
GR
2/10
3/10
2/10X25000
3/10X25000;
10000
15000
34
11 October
35 (C)
07-08-10000;08-09-10000;09-10;5000;SALE-89000;WDV;100000-25000=75000;SO PRFOIT IS 14000
36 (B)
400*10+300*9=6700
42 (D)
10000 MACHINE
10%------------ 250
20000 FURNITURE
5%--------------- 250
30000
500
44 (C)
45 (C)
46 (D)
480000X125/100 = 6L, 120000

(150+75)X500; = 225X500 = 112500
75000
9811860116
90000
Page 12
47 (B)
48 (D)
49 (C)
50 (C)
10950
2700
6750
(10000-4000)X1/12X15/100 = 60000X1/4X15/100 = 15X15 = 225
23/12/09__________________________25/1
AS 26 JAN PUBLIC HOLIDAY
DISCOUNT = 20000X2/12X15/100 = 500
X
Y
Z(NEW)
2/3
1/3
76000-25000=51000 AMONG X AND Y IN 2:1

51000
34000
17000
25000
51 (A)
D
G
DEEPAK
5L
5L
HIDDEN = 8LX4-8L-5L-5L;
= 14L
52 (D)
20000X10X20%= 40000
54 (D)
10000X100 = 10L
55 (C)
CRR = 9000X10-NIX9;=10000
56 (C) 15000___________________sold ________________BAL (35000-30000)X10 = 50000
1/4
+20000
30000
5000 = OLD
12/57 (D) 50000+2000+1000+1000+500+200+400+100 = 55200
58 (C) 100000X12/100 = 12000
59 (B) 120000X1/4 = 30000 LOADING
60 (D)
PROV
500
1600
1100
MODEL TEST PAPER-7

23 (A)
24 (B)
25 (C)
26 (B)
27 (d)
28 (A)
29 (D)
30(C)
31 (C)
9811860116
600000
A 5/10 ---------300000
B 3/10 --------180000
C2/10-----------120000
40000 allotted AS SUBSCRIBED
5000X100 = 5L
FV
CRR = PSC-NI = 1L-50000 = 50000
4000X100X9/100X10/12 = 30000
EX 300000-15000 = 20%*285000 =57000
Share Forfeiture-LOSS on reissue-= 5000/3000*1800(3000)-1800 = 1200
allotted-1000,applied 1200, so excess money 200*2=400,so, allotment due 100083=30000 less already
paid 400 so,
2600 NOT PEND
300000 (TOTAL)X2/10 = 60000
Page 13
32 (A)
18000X3/6
9000
12000X1/2 = 6000
6000X1/2 = 3000
Rohit
4/12
3/7X1/4
47:37
3/6
__________
Sumit-RETIRE
3/12
2/6
2/3
1/6
1/3
2/6
1/6
33 (B)
OR
GR
Amit
5/12
4/7X1/4
34 (C)
35 (D)
36 (C)
37 (A)
1:1:1
12/15%=80,00,000-80,00,000 = NIL
MODULE SALE OF GOOD
5000
6000--------------------1/2 WILL be sent 3000
4850
5700
38 (B)
39
40 (D)
41 (D)
42 (A)
70% OF 10000 = 7000

23750, exp will not be added in cost as units not given
GODOWN + SELLS EXP = 1300
NO INTEREST
20000
100000
2000
GP 53000
43
SUSPENSE
150 Undercast
1000 overcast so reverse
1/7+5/12 = A-----47/84
3/28+4/12 = R 37/84
150000
25000
1500
44(B)
45 (A)
46 (D)
9811860116
CAPITAL
COMPUTER 25000
AC
1L
FD
2L
SALARY
3L
FEES EXP
150000
RENT
240000
CASH
80000
O/D
HC
1000X3.25 = 3250
4L
12L
95000
NRV
(4.25-.35)X1000 = 3900
500000/300000X11L = 183333
Page 14
120000 CONSIGNEE so not in our books

48 (D)
280000
25000 has value 5000/

135000
So, total stock is 135000+5000=140000
49 (A)
51 (B)
52 (C)
53 (B)
1LX.282012 = 28201
160000/80% = 2L, ORIGINAL = 2L/80% = 250000
120000X1/5 = 24000
III-----------HOME
II------------OFFICE
I-------------OFFICE
GF----------STORE
54 (C)
55 (C)
56 (A)
57 (D)
59
80000X3/4 = 60000
+ SALES250000 + 500000-150000 = 230000

-1/5(50000)
(6%+5%)1,40,00,000*100 = 15,40,00,000
12000-10000 = 2000X90 = 180000
CRR = 10000X100-NI;1L/10 = 10000;NIL
NIL AS CALLS IN ARREARS
MODEL TEST PAPER 8

23(B)
24
25(B)
26 (C)
27
28 (C)
29 (A)
9811860116
CB BALANCE = 100000-10000 = 90000

SALES-GP
=
125000-10000 = 25000
JV
20000
22000
40000
39000
50000
2000
65000
2000 (LOSS)
{2000-6/100X2000X3/12}X1/2 = 1790X1/2 = 985/10000 AS IT IS COST
P&L APPROPRIATION
2000
6000
4000
S
R
40000
80000
DR
CR
S
3000
2000
R
3000
4000
DR
1000
A
3/6
A
6/15
CR
1000
B
2/6
B
4/15
S-1000
C
1/6
C
D
1/6
1/6
Page 15
31 (A)
32 (C)33 (B)
34 (C)
35 (C)
36 (D)
37
38 (C)
39 (B)
40 (A)
41 (D)
42 (C)
43 (C)
44 (A)
45 (B)
46 (A)
47 (A)
49 (B)
12:8:5:5
1-C-D = 1-1/6-1/6 = 2/3 A-2/3X3/6
B-2/6X2/3
A-L = 1100000-100000 = 1000000;PROFIT/10% = 110000/10%
=1100000
11L
10L
1L GW
______________________________10/4
1/4/10
120000-PUR10000+1000+10000COG = 121000
10 OR 11, 5/4, 2/2;10X2+4X10 + 2X2 = 64
2008
40000-5000 = 35000
2009 50000+10000= 60000; 95000/2 = 47500
100000X2/12/100X3/12 = 3000
NIDHI
5000
45000
14000
2000
43000
15000
DEDUCTED AS DRAWING
To Bad debts 10000
15000 b/d
20000c/d
15000
P&L
16000+1000 =
17000
SALARY A/C
DR
TO EMPLOYEE PF
(50000+6000-6000)/10 = 5000
364800/12 = 30400X10 = 304000
SF-LOSS = 2.5X200 100 (5X200-900) = 400
5X1000 = 5000
1600-1/5X1600 = 1280; CLAIM-50% 1640
22000/11 = 2000, SO O/S FOR 1 MONTH IS 2000
50000X10/100X1 = 5000
OD CASHBOOK (GOOD) 50000+20000+500 = 70500
1020000-20000 =
10L
50 (D)
51 (B)
52 (A)
53 (B)
9811860116
SALES 10L X 25/100 = 250000-10000

TB
20000
10000
10000 SUPSENSE
SUSPANCE
RO
10000
TO SUSPANCE
100
= 10100
3L+50000-24000+20000 = 346000
10000+25% = 125000
A
BC
=
4000X6/12X2/4 = 6000
Page 16

54 (D)
A
5L-1L
=
=
L+C
4L
55 (D)
56 (B)
57(D)
58
1000
2000
200
3200
CP = 10000_______10%_______IP;
11000-5% = 10450
CASH A/C
DR
TO BAD DEBTS RECOVERED
10000X12 = SALARY = PREPAID SALARY A/C SHOULD BE DEBITED
MODEL TEST PAPER 9

5 (A)
23 (D)
24
25 (C)
26 (A)
28 (D)
29 (A)
30
31 (A)
32 (A)
33 (A)
34 (A)
9811860116
10/8___________SEPT____ OCT________MAR + 3 = 13/4

CASH A/C
10000
10000 PURCHASE
5000
15000 CR
35000 FROM DRS
3000
2400
900
4000
1000
8000
NONE
50000-5000 = 45000
100000 OS
35000 FROM DR
SALES-COGS = 5L-310000 = 190000
B/R
ARUN
B/R
TO ARON
TO B/P
B/P
TO ARUN
5200-(4000-500)-420-150 = 1130
600-1/6X600 = 500 COST
48000-6000 = 42000X5/105 = 2000
5/100X42000 = 2100 (A)
16000-16000X60/160 = 16000+6000X3/8 = 10000
ON SALE = 1/(4-1) = 1/3 ON COST
40000+1/4 = 50000
COMMISSION = 5/100X5000 = 2500
TRADING
16500
63500+-450
46850
18210
-110
250
850
GP 14670
P/L
Page 17
35 (A)
36
37
38 (A)
200
4670 GP
1110
190
3710
800
8660
200000+2000-3000-12750 = 6250 LOSS
ODCB (GOD)
4500+6225-10250 = 475
25000-2500 = 22500
TB
2983
733
1200
2155
829
10923
330
314
2520
2418
1175
25580
39
200
1654
4591
1637
252
16882
364
25580
274-730+477
500 IN CASH+15
40 (B)
1000----900
1.10.04
500+12/100X500X3/12
500-------60% = 300
41 (A)
42 (B)
(1000X80+1000X45)/1000X1000 = 8104.50
(200X300+500+200+100)X50/200 = 15200
43 (D)
JY
EXP 4500
80000
43500
2000
250
7500
3750
1500
2500
6850
44 (A)
9811860116
188500
40000X1/10 = 4000 C SHARE

5000 GUARANTEED
Page 18

DEFICIENCY
1000
A
500
B
500
45 (A)
1%
R
R
M
46 (A)
DR
1200
900
600
DR
CR
300
300
A
B
3/6
2/6
(A) REMAINING
CR
900
900
900
3/6X5/6
47 (A)
48
49 (A)
50 (B)
51 (A)
52 (A)
C
1/6
1-1/6 = 5/6
D
1/6
2/6X5/6
1/6X5/6
15:10:5:6
A 4/5
B1/5
OR
4/5X1/4
1/5X1/2
SR
4/20:1/10 = 4:2 = 2:1
(40000+10000+60000+80000-20000)X3/5 = 34000X3 = 102000
72000/10%-570000
720000-570000 = 150000
A
B
C
4/9
3/9
2/9
OR
2/8
2/8
2/8
NR
32-18/72
24-18/72
16-18/72
_________________
A AND B
A+B = 24000+16000 = 40000X5/4 = 50000
C1/5X50000 = 10000
120000
X
3/5
54000
Y
2/5
NEW CAPITAL -75000X3 = 225000
90000
60000
750000
X
30000
C/D
90000
53 (A)
9811860116
120000
PROFIT-LOSS = 400X8-0 = 3200

Page 19

54 (A)
55 (D)
56
57 (A)
58
59
800X3X500/800 500X0 = 1500

90000/90 = 10000
(4L-130000)/90 = 270000/90 = 3000 DEB
LOSS =( 21+5%) X 2000X100 = 14000
(10L-10000)X15/100 = 148500
P&L APPN
PREFDIV 18000
ED 40000X7.5
40000X.5
GR 5000
BAL 10000
60 , 7500 AT COST PRICE
B/D 31000
NP 52000
MODEL TEST PAPER 10

1 (A)-
20000 CASH
50000/30000 O/S
23 (B)
CAPITAL ; 7L-5000=695000
MACHINERY 500000
CASH 200000-5000= 195000
24
25 (A)
26
27
PURCHASE 50000 SALES 60000 (B) revenue

SALES-COGS = 4L-310000 = 90000
CB(INSAAN) + 3500(5000-1500) (D)
30000
60000
30000
40000 (40 % OF 100000)
28
MODEL TEST PAPER 11

23 COGS = 20800 + 3700 2500 = 22000
25000 1000
2400
10
25 CB assured 10,000 1050 = 8950;PB 10,000 1050 1050 = 7900so add in PB
26 50,000 6000 5800 + 4000 = 44200(Apprentice premium is income)
27
TB
Sales
70,000
Pur
50,000
Creditors.
15,000
Debtors
. 25,000
Exp.
17,000
Machine
10,000
Supplier for machine 2000
Cash
5,000
Stock
11,000
118,000
28
16900+5800-2000-15200=4500 profit
24
9811860116
Page 20

1
32
33
34
47.
90,000 = 72,000;72,000 = Purchase C/S;72,000 = 1,00,000 cls, cls = 28,000

5
Cash to bad deht recovered, so mohan a/c will not be used
Drawing a/c dr.
To cash
60,000 + 5,000 + 5,000, so, repair NiL as old machine
20,000 + 10,000 5,000 = 25,000
45 32 = 13 units, so 10 460 + 3 450 = 5950
15000+1000+500+1200 = 17700/-
48.
(102000+73000) =
49.
50.
52.
53.
15000-660+2150 = 16490/-;
(Insaan)
3000+ 1/5 = 33000+6600 =39600
BOOK QUESTION OF JV
A
B
50000
30000
3000
1800
2500
Profit = 4339
2926
A
B
29
30
31
54.
Sales profit = 90,000-
OR
SR
NR
4
*
5
x;175000* 5/4 = x
5
8
1
10
42
80
3
8
1
10
22
80
=>
175000
5 1
= 43750/4 5
12500 Profit
- 4800 IOC
7700
385
7315
C
1
5
42 : 22 : 16;
21 : 11 : 8
MODEL TEST PAPER 12

23
O/S + purchases + direct expenses C/S

8500 + 30700 + 4800 9000 = 35000
24
01/01/07
Cost
25
26
3 Years
Trading
19500
25000
400
12000
1000
GP 16100
TB
Dr.
COGS 150000
Stock 40000
Debtor 60000
FA
50000
Exp
20000
Sales
Capital
Cr
______
320000
9811860116
100
01/01/10
=> 147390
147390
61.41
240000/-;147390=C(1-15%)^3
Cr.
200000
90000
30000
320000
Page 21

28
29
31
33
40000 + 1000 2400 53600 = 41000 56000

O/B
C/B
= 15000 Profit
Sales G.P = 80000 20% = 64000 COGS; Purchases = 100000;C/S = 100000 64000 = 36000
5%(460000 7500) = DIVIDEND = 22625
900000
= 7200 Shares
125
34
Share Capital => Called Up => (3+2+2)*100=
700/35
CR = Paid Up Loss On Reissue;= 500 6 500 1; = 2500
Share Forfeited With Paid Up; 5600 = 3000
5000 500
450
38
= 450 =>
= 9%
100 ;
5000
10
100
39
16000
= 10000
160
100
40
34200
= 45600
7500
41
CP = 40000
100
SP = 40000
= 50000
80
5
Commission
50000 = 2500
100
5
1
42
(48000-6000) =
42000 = 2000
105
21
45
4200-(3000-400)+420+30
= 4200-(3050) = 1150
46
Purchase = COGS+C/S-O/S
= 158600+25400-44000
= 140000
47
Capital A/C
550
5000
650
2770
120
500
6950
48
Trading
9600
24900
11850
3500
200
6750
49
Provision For Balance
To Bad Debt
2500
1870
370
1000
51
Consignment
7500
600
52
10500
7500 600 1200

100
20 1860
1200
775
2285
400000 310000 = 90000
9811860116
Page 22
53
54
56
57
58
59
60
10950 4950
6000
Balance;= 2000 Instalment

3
6000 + 360 2000 + 360 = 4000;LAst Will be 2000 + 120 = 2120
A
B
C
D
3
2
1
OR
6
6
6
4
8
SR
12
12
5
4
2
1
NR
12
12
12
12
A:B:C
1:0:0
Trading
1200000
1300000
225000
G.P 325000
DR.
10200
30400 +28400
37900
2700
Cash sales
Credit
1200 +37900
Sales
13800 66300
20% on Sales => 25% on Cost
9900000
= 9000000; Premium =990000-900000= 900000
110
10
5000100 = 50000/100
MODEL TEST PAPER 13

20
700000+100000-150002 = 770000
21
140000 CPIL
=> Above Cost 40000 capital;
25
TB
Cash
Bank
Purchases
Rent
(a)
26
A
B
C
3180
6900
725
150
Dr
7200
7200
3600
2:2:1
Wrong
27
10955
Statement Showing Diff
Cr
Dr
Cr
6000 1200
6000 1200
6000
2400
1:1:1
Correct
A 1200
B 1200
To C 2400
B/S
B/P
Cr
Loan
32
WDV 40000;60000 Revenue;Profit Of 100000
5000
400
800
1500
4000+2000 = 24000,
Stock 2400
Cash 1800
Plant 1000
Drs
500
Investments 2000
30000+3000 = 33000
Sales C/S
= 9000 Profit (a)
9811860116
Page 23

33
Credit Sales60000
-25000=
34
2430+1390+260-1710
PB Insaan= 2370
23.
Bill drawn for 45 days

Date of drawing
25 Jan. 2011
+ Days
45 days
35000 (a)
MODEL TEST PAPER 14

th
th
11 March 2011
+ 3 days of grace
3 days
th
14 March 2011
Hence Ans. (a)
24.
Amt. = 5000;Renew for = 1 month

NTM: So int will be charged for 1 month always calculate the int for the period for which bill is renewed
New amount will be = initial amount + interest for 1 month;= 5000 + 5000
1
12
25.
12
= 5000 + 50 = 5050 Ans (b)
100
Date of acceptance = 05.02.2010 (DOA);Date of retirement = 13.03.2010 (DOR)

No of day for which Rebate will be calculated = 90 day (DOR - DOA)
= 90 (13.03.2010 05.02.2010)= 90 (36) = 54 days
Rebate =
54
360
12
10,000 = 180
100
NTM: Here ignore no of days of grace

26.
Dr. Consignment Account

To goods sent (WN1)
80,000 By Consignee A/c (Sales)
1,50,000
on consignment
To Consignees A/c
40,000 By Stock at cost (WN1)
To Profit
38,000
1,58,000
1,58,000
8,000
WNI
NTM: Important table for exam
IP = 1,00,000 (Invoice price)
100% on cost = 50% on IP
Profit = 25% on cost = 20% on IP
50% on cost = 33.33% on IP
Cost price = IP profit
33.33% on cost = 25% on IP
1,00,000 20y (1,00,000)
25% on cost = 20% on IP
1,00,000 20,000 = 80,000
20% on cost = 16.66% on IP
Similarly (WN2)
IP = 10,000
9811860116
Page 24

IP = IP Profit = 10,000 20% (10,000) = 8,000
NTm: Just remove profit from op bal, purchase and closing stock.
27.
Cost of 1000 pkts @ 300` =

+ freight & insurance for 100 pkts
30,000
500
Total lost for 100 pkts
30500
Costly damage = lost of 15 kpts =30,500
15
= 4575`
100
28.
29.
30000+500/100*30+1300/85*30, SO ANS NONE OF THE ABOVE

Good supplied + expense
Total
By large 2500 + 200
2700
By elder 2000 + 150
2150
Total
4850
+ Commission (6000 5%)
300
Cost
5150
Profit of venture
30.
31.
= SP cost; = 6000 5150 = 850
Share capital A/c Dr by 100 10 (FV); = 1000 since all Money is called up
Contract price
2,00,000
Add value of cl stock
6,000
Less paid wages
(60,000)
Less
32.
(1,62,000)
= 16,000 loss
Old Ratio of J and R = ||;Loan = Premium for good will = 8,000

Which is to be credited to J and R in the ratio of their sacrifice ie
3 1 1 3 1
- = ||
4 2 2 4 2
ie 4,000 and 4,000

entry will be u a/c 8,000
TOJ 4,000
TOR 4,000
33.
Anil, Rohit and Sumit old Ratio = 543

Amit
Old share
+ Share gained
12
12
3 4

12 7
47
New share
84
34.
9811860116
Old
Rohit
3 3

12 7
37
4737
84
Sac
Gain
New
Page 25
Rachna
Sapna
Ashana
111
Profits doingyear
10 Capital
Rate of Return
12,00,000
=
- 8,00,000 = Nil
15%
35.
Good will =
36.
Profit = Sales Lost of Goods sold

= (40,000 30,000) = 10,000
NTM: Closing stock, opening stock and purchases are adjusted in cost of good sold
37.
Balance os per cash book

Less: cheque deposit but not cr.
(13,500)
(3,000)
Add cheque issued but not presented

Overdraft as per bank statement
6,000
(10,500)
38.
Sundry Creditors A/c Dr.

To P & L A/c
50,000
50,000
39.
Salary A/c dr. 50,000

To cash
45,000
To income tax
1,000
To professional tax
40.
2000
To Recovery of loon
1700
To Staff welfare fund
100
To dividend income A/c

41.
200
To EPF
Cash A/c dr.

TDS A/c dr.
in liability dr.
in income cr.
9,200
800
10,000
As capital A/c Dr. 20,000 (share of)

Bs capital A/c Dr. 20,000 (profit s)
(s capital A/c Dr. 20,000 (So capital s)
To sundry creditor A/c 60,000 (Liability a)
42.
43.
Because concerned with daily to day recurring expenses to be revenue.

Suspense a/c dr.
720
To opening stock
720
9811860116
Page 26

44.
GW = Aug profits No. of years of purchase

40,000 50,000 60,000 50,000
=
3 = 1,50,000
4
45.
No of share issued =
Purchase consideration
1,50,000
Issue price
46.
Cost 10,000
st
Less dep. for 1 year
@ 25
Less dep. for 2
(10 5)
= 10,000 shares
(2,500)
7,500
nd
year
1875
5,625
rd
Less dep. for 3 year
1,406.25
4,218.75
Less sale
1000
3,218.75
47.
Let lost on 01.01.2006 be

Less dep. for 2006 @ 15% p.a.
100x
(15x)
85x
(12.75x)
72.25
(10,8375)
61.4125
(9.211875)
52.200625
By following unitary method.

Loss on 04.01.2006 = 1,47,390 = 2,82,352.94
Ans. Given in module is incorrect.
48.
49.
50.
51.
52.
54.
Commission = NP be for change comm.
Rate
= 22,000
10
= 2,000
100 Rate
100 10
Loss on issue of debenture= Discount on issue of debt. + premium redemption
= 6% + 4% = 10% on (100 1,00,000)= 10,00,000
Product method
3,00,000 6% = 18,000
(5% 8,000) + (10% 80,000) + (5 2,00,000) = 18,400
Misprint in module = Final in place of first
Called up FV = 10
Entry will be (i) SC 1000
Less non paid call
To forfeited shares 800
8
To call in arrears 200
9811860116
Page 27
Less discount
(10 - 7)
5
On reissue per share to be transferred to capital reserves.;On 100 share @ 5 = 500 Rs. + CR.
Discount on issue of debtors 15,000
55.
Entry Plant & Machinery Rs. 2,00,000

To cash
65,000
To 6% debtors
1,50,000
Discount = No of debentures issued discount per debentures=
(2,00,000- 65,000)
100 = 15,000
(1000 - 100)
56.
Unrecorded investment A/c Rs. 5,000 (in asset Dr.)

To revaluation a/c A/c 5,000 (in income Cr.)
NTM: Revaluation is income/nominal account
57.
th
Discount = Discount Amt o/s at 5 years sum of amount o/s at all the years
To be written Amount
=
1,00,000
100
20,000
= 400
20,000 40,000 60,000 80,000 1,00,000
58.
Amount forfeited on = 250 (10 3 - 4)= 750

Amount to of CR = Share forfeited Discount on reissue750 (250 10 - 2000) = 250
59.
Loss on issue of debentures = Discount on issue of deb+ Premium on red of debentures

= 5% (2,00,000) + 10% (2,00,000) = 30,000
60.
Liability dr 10,000 ( in liability of firm)

To As capital 10,000 ( in capital of a)
23.
Cost of consignment
Add: packing and loading
MODEL TEST PAPER 15

1,00,000
5,000
Add: transportation
10,000
Add: insurance
5,000
T cost
Abnormal loss =
1,20,000
1
10
24.
25.
32.
of total cost of consignment=
(1,20,000) = 12,000
10
BOOK QUESTION DONE IN CLASS

Originalcost - Salvagevalue
26,000 - 6,000
Depreciation =
=
= 20,000
6
Useful life
Balance Sheet
Liabilities
Amount Assets
Capital (bal fig)
Owing to 2 ltd.
Interest received
9811860116
Amount
1,85,000 Cash in hand
10,00
3750 Cash at bank
5,000
250 Stock
20,000
Page 28

In advance
Land and building
1,00,000
Plant & Machinery`
50,000
Owing prom max
12,500
Prepaid incomes
500
1,89,000
33.
1,89,000
Corrected Trial Balance

Dr.
Sen Guptas capital
1,556
Sen Guptas drawings
564
Tea bold dermises
750
Sale
2,750
Dues from customers
34.
530
Purchases
264
Loan from bank
256
Godless
528
Trade expenses
Cash at bank
700
226
Bills payable
100
Salaries and wages
600
Opening stock
264
Rent and tanes
463
Sales Return
98
5,454
35.
36.
NIL
BIR A/c Dr.
To Rajesh
10,000
10,000
Dinesh Dr.
10,500
To BIR
10,000
To discount received
39.
Cr.
5,454
in the book of ritesh.
500
Cost of goods sold = opening stock + purchases + Direct expenses Closing stock
80,700 = 5,800 + purchases + 0 6,000;80,900 = purchases
NTM: Adjusted purchase = op stock + purchase closing stock
40.
41.
Cogs = op stock + purchases + direct expenses close stock= 8,500 + 30,700 + 4,800 9,000 = 35,000
GP=SalesCogs=1,30,20070,800=59,400
42.
Dr.
Opening stock
9811860116
Trading Acc
2,400 Sales
Cr.
20,860
Page 29

Purchases
15,205
Less return outward
185
Less return inward
860
20,000
15,020
Carriage inward
524
Manufacturing wages
2,800 Closing stock
Manufacturing wages o/s
3,840
96 Add. Loss due to fire
UP
1,000
4,840
4,000 (Abnormal loss)

24,840
43.
Cr.
Liabilities
24,840
B/s
Amount Assets
Capital + NP (26 + 96,000)
Dr.
Amount
2,06,000 Cash in hand
Accounts payable
68,000 Prepaid expenses
Long tern loan
30,000 Cash at bank
Wages payable
1,24,000
2,000
2,90,000
1,20,000 Inventories
16,000
Investments
2,000
Bills Receivables
80,000
5,14,000
44.
Cost
Less acc dep.
58,000
11,600
BV at begin
46,400
Less dep @
(9280)
20%
37,120
(46,400
20
5,14,000
) = 9,280
10
45.
Opening provisions for baddebts

Less bad debts
= 1250 Cr.
= (300) Dr.
Less provision to be maintained
= (500) Dr.
500 Amount of provision gendered to p & L

10,000
100
46.
Annual =
Depreciable Amount
= 450 Cr.
Annual Production Unit During 1-3
TotalProductionDuringUseful Life
Depreciation for 1-3 years=
11,00,000
5,00,000 = 183333.332
30,00,000
47.
Sale
Less cost
2,50,000
(2,02,000)
(2,00,000 + 2,000)
9811860116
Page 30

Less Discounting charges
(5,000)
Less selling expenses
(3,000)
Less commission to B
(25,000)
Less into capital
(12,000)
`
3,000
48.
49.
50.
Negative balance as per pass book

Less chaques drawn but not record in cash book
(10,000)
(100)
Less cheques drawer out not pressured for payment
(6,000)
Less bank charges recorded tense in cash book
(30)
Overdraft (Negative) balance as per cash book

51.
(00)
(16,130)
Profit before interest and capital

Less: out on capital (WNI)
8,848
(2,000)
Less: salary to Karan 250 12
(3,000)
Add: Inton drawings wn2 (64 + 88)
152
Divisible profit
4,000
WNI
Int to Ratan (15,000 8%)
1,200
Int to Karan (10,000 8%)
800
2,000
WN2 Amount
Date
Mouths
Product
Ratan
Karan
Ratan
Karan
Ratan
Karan
June 30
600
800
5,400
7,200
Sept. 30
500
700
3,000
4,200
Dec. 31
400
600
1,200
1,800
9,600
13,200
Total
Ratan
Lat 9,600
Karan
8%
13,200
12
64
52.
X
88
Old
5
9811860116
8%
12
Gain
Sacrifice
New
5
Page 31
521
53.
Total capital to be employed = 14,000
= 70,000
5
Hidden G.W. = Total capital to be employed total capital actually employed by all purchases.
70,000 (18,000 + 12,000 + 14,000) = 26,000
54.
(Old New)
Old
A
Gain
Corifice
New
2
9
Sacrifice Ratio of A, B and C = 110

So A and B equally
55.
Old
5
New
0
Sacrifice
5
9
Y
Gain
18
18
Gaining Ratio = 37
56.
57.
(6% 10)` = 0.6 paisa

ESC 100 100 = 10,000
To discount (bal fig)
10,000
To share forefeet ace (40 100)
4,000
To call in arrears (50 100)
5,000
58.
TotalDiscount
59.
No of years of term of debehture
9811860116
2000
= 400
Page 32

60.
NTM: Proposed dividend if nothing mention is given on only paid up share capital.
Call up
4,60,000
Less call in arrears
7500
Proposed
4,52,500
Dividend @ 5% = 4,52,000 5% = 22625
MODEL TEST PAPER 16

24.
Cash sales
Add: cash collected from Drs.
50,000
1,30,000
Add: Bad debts doing year
25.
5,000
Less debtors at beginning
(10,000)
Sales
1,75,000
Depreciable Value
Depreciation per year as per SLM =
No of useful life years

= 2,000 per years;Rate of depreciation =
2,000
Lost Residual Value
100 = ie
Opening stock
Purchases
13,816
Less Purchase
(390)
Import changes
1650
Gross profit
2958
Ref per years
10
100 = 8%
Cost
15,248
Less SR
524
13,426 Closing stock
23,604
27.
25,000 - 5,000
No. of Useful life Years
25,000
TRADING ACCOUNT
5,570 Sales
26.
14,724
8,880
23,604
Salary
To Purchases
7,500
7,500
NTM: Goods taken up by employer is not considered as sales.

28.
COGS = OPENING STOCK + PURCHASES CLOSING STOCK;1,00,000 = 5,000 + Purchases 10,000

Purchases = 1,05,000
29.
Rent paid= 55,000;O/s rent for month of march =
55,000
1=5000/
11
30.
Opening capital
Add additional capital
3,00,000
50,000
Less drawings 2,000 12
(24,000)
Add profit
20,000
Less int on drawing

12 2,000
6.5
12
32.
5
100
(650)
3,45,350
Sales
50,000
Add: Good to taken over A 4,000
9811860116
Page 33

Less Cost of good
(42,500)
Profit
33.
11,500
Cost of march in
Less Residual value
1,35,000
5,000
Depreciable value 1,30,000;Useful life-10;Depreciation per year = 13,000

st
th
Depreciation for 1 to 5 years = 13,000 5 = 65,000

Depreciable value after = 1,30,000 65,000 = 65,000
65,000
65,000
Revised useful life

34.
Old
Mohan
1
Krishana
1
Sacrifice
= 8125
Ram
0
1
4
Gain
New
35.
=3:3:2
Indirect expenses will be excluded.

Godown rent
800
Selling expenses
1,000
18,00
36.
OLD
4
NEW
5
9
C
37.
13
72
3
9
11
72
Loss on reissue = paid up value Received amount on reissue;= 60 45 = 15 per share;

Amount transfer to CR = no of shares reissued (amount received loss on reissue per share)
= 20 (20 - 15) = 100`
38.
Let his commission be = x + 25 per unit of sale.Gross sale proceeds per unit =
73,800
= 164 per unit
450
His commission per unit=
(Gross proceeds prunit rate of 125` - Commissioner)
(164 125 x - 25) x = 2.8
9811860116
Page 34

X = 2.8 commission per unit = 25 + 2.8 = 27.8 ;So his total commission = 27.8 450 = 12,510
40.
Loss ou issue of debentures = Discount on issue + Previon on redemption

(5% + 10%) of 1,00,000 = 15,000`
42.
Amount received on 250 shares which were reissued = 250 3 = 750

Loss on reissue = 250 10 2,000 = 500` ;Amount transfer to capital reserve = 750 500 = 250`
43.
Discount on issue of debentures = 1,00,000
= 6,000
100
Amountout standingin fifth year
Discount to be written off fifth years;=
Discount + Amount
some of all the out standingamount

20,000
st
In all the years ie from 1 to fifth year;=
44.
47.
(1,00,000 80,000 60,000 40,000 20,000)
6,000 = 400`
NTM: If nothing mention about future profit share ratio, gaining and Sacrificing ration, then old ratio will become the
sacrificing ratio become all the partners will sacrifice in their old ratio.
Profit for the year
1,60,000
Less interest on partners capital
(3,00,000 + 2,00,000 + 1,50,000) 5%
32,500
1,27,500
Share of profit to
Ratio
51,000
38,250
38,250
Guaranteed profit
40,000
To C by A
Less profit Distributed
38,250
Sacrifice made by A to C
48.
A
1750
Old
6
New
5
Sacrifice
1
10
10
10
10
10
10
1:1
49.
50.
52.
JE on forfeiter
Share capital (100 100) 10,000
To share forfeited bal fig
6,500
To discount on issue 10 100
1,000
To call in arrears 25 100
2,500
Answer already given in question. Acquiring ratio is the gaining ratio ic 6 : 4 or 3 : 2

Dr. balance as per cash book
3,000
9811860116
Page 35

Add cheque issued but not presented
500
Add int collected by bank
400
Add direct depositing by customer
250
Balance as per pass book

53.
4,150
GW = Avg profit No. of years of purchase;=
(2,000 18,000 9,000 - 2,000 - 5,000)
1.5= 12,000
5
54.
Opening
Add cash sale
10,0000
5,000
Add Collection from dr.
35,000
(Cr. Sales Drs alter and)(45,000 10,000)

Cash bal at end
55.
50,000
400
8,000
100
10
Depreciation on plant & machinery

8,000 8,000
10
Depreciation on furniture
Depreciation on building
2,00,000
100
10,000
Total dep.
56.
57.
18,400
Book yalue of machine = exchange value of march= loss on exchange = 5,000 800 = 4,200`
Sales value
= 600
Less profit 20% on cost ie 16.66% on sales
= (100)
(16.66% on 600)
500
Closing stock will increase by 500 NTM: always take opening and closing stock at cost ie logs values.
MODEL TEST PAPER 17

23.
Cost - Residual Value
= Depreciation per year
5,000 - 500
Cost
25.
Cash account
10,000 By purchase
1,10,000
Gross profit
Less carriage outwards
51,000
(5,800)
Less rent paid
(6,400)
Less bad debts
(2,600)
Add apprentice prem
(1000)
Net profit
36,700
9811860116
100
1500
Less Printing & stationery
To capital
Depreciation per year
10
usefull life
450
=
100 = 9%
5000
24.
= 450`Rate =
Page 36

To sales
5,000 By expenses
To Debtors
19,300
35,000 By creditors
15,000
By bal cld.
26.
28.
Interest on capital = 2000 12

Cost of goods
Add profit 33.33% on cost
Sales
29.
6.5
25% on sale = 33.33% on cost
10,000
TRADING A/C
Amount Purchases
To opening stock
Less purchase return
10% = 1300
12
7,500
2,500
Dr.
Purchases
Purchase
5,700
Cr.
Amount
80,000 Sales
3,00,000
4,10,000
2,94,000 Less sales return
(6,000)
Closing stock
Carriage & freight
4,000
Wages
8,000
Gross profit
60,000
62,000
4,60,000
Purchase
4,60,000
Dr.
60,000
Cr.
Reserve fund
20,000
Sales
1,00,000
Purchase return
Sale return
1,000
2,000
Opening stock
30,000
Sanding expenses
20,000
O/s exp.
2,000
Cash at bank
5,000
Fixed assets
50,000
Debtors
80,000
Creditor
30,000
Capital
94,000
2,47,000
31.
Over draft as per cash book

Less cheque deposit but not cleared
9811860116
4,00,000
12,000
Duty & clearing charge
30.
(10,000)
2,47,000
(2,500)
(1,000)
Page 37
33.
Add cheque issued but not cashed
1,400
Over draft balance as per bank statement
2,100
Dr.
Liabilities
Capital
Less drawings
Balance Sheet
Amount Assets
70,000
Cash
3,000
(12,000)
Stock
40,000
Add net profit + 18,000
76,000 Debtors
40,000
Bills payable
3,000 Cash at bank
8,000
Depreciation provision
4,000 Bill Receivable
5,000
Liability for expenses
3,000 Machinery
Creditors
37.
Cr.
Amount
20,000
30,000
1,16,000
1,16,000
Amount paid on Share forfeit per share = 20`;Loss on reissue per share = 60-45 = 15
Amount transfer to CR = No of share reissued (Paid per share loss ion reissue per share)= 30 (20 - 15) = 150`
38.
Equity share capital called up

Less calls in arrear
Equity share capital paid up
10,00,000
40,000
9,60,000
Proposed dividend 5% on 9,60,000 = 48,000

NTM: Dividend is paid on paid up capital excluding calls in advance.
40.
41.
Discount on reissue = 200 1 = 200`

Depreciation as per WDV:
Cost
20,000
Less depreciation for 2006
3000
17,000
2,550
14,450
2,167.5
12,282.5
Depreciation as per WDV = 3000 + 22,550 + 2,167.5 = 7,717.5

Depreciation as per installment = 3,000 3 = 9,000
42.
Less depreciation as per WDV
7,717.5
= unabsorbed depreciation
1,282.5
Debtors
Less bad debts written off
1,95,000
4,200
1,90,800
9811860116
Page 38
Provision on debtors @ 4.5 = 1,90,800
= 7,632
100
Less provision of the beginning
43.
(6,500)
Add bad debts
4,200
Amount of net provision debited to p & l A/c
5,332
Dr.
Particulars
TRADING A/C
Amount Particulars
To purchases
60,000
Less purchase return
10,000
Sales
80,000
50,000 Less sales return
To gross profit
44.
Cr.
Amount
(10,000)
70,000
20,000
70,000
70,000
Goodwill = Avg. profit No. of years of purchases; Goodwill =
40,000 50,000 60,000 50,000
3 = 1,50,000
4
46.
Interest on loan 10,000
600
100
47.
Less Int dr.
300
interest payable & outstanding
300
Cost
20,000
Less: Depreciation for 3
years @ 10% ie from 1 july 2006 + 31 Dec. 2009
(7,000)
2
(20,000 3.5
10
) by =
13,000
100
Sales consideration
15,000
Less BV
13,000
Profit on sale
48.
2,000
Cost price of machine

Add Forwarding
10,000
2000
Add import Duty
7,000
Add installation expenses
1,000
st
BV as on start of 1 year
20,000
Less dep @ 10%
(2,000)
st
BV as on end of 1 year
18,000
Less dep @ 10%
(1,800)
BV as at end of 2
nd
year
Less dep. @ 10%

rd
BV as at end of 3 year
9811860116
16,200
1620
14,580
Page 39
52.
No of shares =
Purchase - Paymentby cheque
1,15,000- 10,000
Issue price
= 10,000 shares
10.5
Securities premium = (10.5 - 10) 10,000 = 5,000`

53.
Let the commission be = x + 500

2000 - x
15,000 - 12,500 - x - 500
Commission per television =
X = 400
X + 500 =
4
4
Commission per television = 400 + 500 = 900;Total commission on 50 + television = 900 50 = 45,000
55.
Sale
Less material purchased
1,12,000
(65,000)
Less wages paid
(6,000)
Less Admin expenses
(3,000)
Less selling exp.
(6,170)
Less expenses by A
(1,630)
Add closing stock
6,200
Profit
57.
36,400
Closing capital
Less opening capital
16,900
(15,200)
Add drawing
4,800
Less additional capital introduced
(2,000)
= Net profit during the year
4,500
MODEL TEST PAPER 18

23.
Let the cost of machine on jan. 2007 be

100 x
(10x)
90x
(9x)
81x
(81x)
Balance as on 1 Jan 2010
72.9x
By following unitary method; Cost of machine on1 jan. 2007 =
1,45,800
100= 2,00,000`
72.9
24.
Particular
Dr.
TRADING ACCOUNT
Amount Particular
To opening stock
To purchases
3,00,000
Less purchase returns (6,000)
9811860116
Cr.
Amount
80,000 By sales
4,10,000
Less SR
(10,000)
2,94,000 Closing stock
4,00,000
60,000
Page 40
25.
Carriage amount
12,000
To Gross profit
62,000
4,60,000
4,60,000
Trial Balance
Particular
Cash
Dr.
5,700
Expenses
19,300
Furniture
2,000
Debtors
10,000
Creditors
5,000
Sales
Purchases
Capital
27.
Cost price
Add repairing expenses
Add miscellaneous expenses
Total cost
Cr.
50,000
30,000
.
12,000
67,000
67,000
10,000
1,000
500
11,5000
Add profit 20% on SP
30.
i.e 25% on cost
2,875
(11,500 25%)
14,375
Purchase cost
Add repairs
10,000
1,000
Add legal expenses

Add commission to broker
Amount debit to car A/c
500
1,200
12,700
NTM: Repairs on second hand assets to get than ready for use are to capitalized ie added in lost of accusation.
31.
33.
34.
Apply Product method

Total expenses
Freight
3,000
Add int on loan of 50,000 @ 18%
750
Add int on loan of 1,50,000 @ 18%
4500
Add selling expenses
5,000
Total
13,250
Purchases cost
10,000
9811860116
Page 41

Shipping charges
2,000
Import duty
7,000
Amount dr. boiler a/c

35.
19,000
Call of value of closing stock

Closing stock uni is (300 - 200) = 100 mt.
Cost @ 250
75,000
Carriage & freight
1,500
Transit Insurance
900
Unloading charges
400
Octroi
600
Carriage
800
Total cost of 300 units
79,200;
Cost of 100 units of closing stock =
79,200
100 = 26,400
300
36.
Original cost
st
Less depreciation for 1 year
80,000
(8,000)
72,000
Less dep. for 2
nd
years
(7,200)
64,800
rd
Less dep. for 3 years
8,480
58,320
th
Less dep for 4 years

39.
(5,832)
Cost of goods sold

Profit 32.33% on loss
= 52,488
7,500
2,500
(7,500 33.33%)
10,000
40.
Date of acceptance ie sight = 2

th
= 5 may 2010.
42.
Old
New
B
43.
PSR = 4 : 2 : 1
Profit = 31,500
Profit as per ratio
9811860116
nd
after 2010;Date of maturity = 2
nd
after 2010 + 1 month + 3 days of grace
Sacrifice
10
10
10
10
ie 1 : 1
18,000
9,000
4,500
Page 42

Sacrifice by A to C
(3,000)
3,000
15,000
44.
Good will of C = 60,000
45.
Good will =
9,000
75,000
= 12,000
5
Actoalprofit - Normal proift
20,000 - (1,50,000 10%)
49.
= 50,000
Rate of Return
10%
Discount is written off: 5 : 4 : 3 : 2 : 1
Because initially the amount of loan O/S is grater and then reduces by equal amount.
52.
Forfeited amount per share = 20;Loss on reissue given = (paid up received on reissue)= (60 - 45) = 15 per share
Amount transferred to Cr. = no of shares reissue (forfeited amount Loss on reissue)= 15 (20 15) = 75
53.
No of debentures issued =
54.
55.
Loss on issue of departures = Discount on issue + premium on redemption = (5% + 10%) of 1,00,000 = 15,000
Dr.
DEBTORS
Cr.
To bal bld
20,000 By cash
20,000
2,00,000- 65,000
1,35,000
= 150 Debentures
Issue price
(1,000 - 10%)
Discount amount = Discount per debenture No of debentures issue= 100 150 = 15,000
To sales (cr.)
70,000 By bad debts
3,000
By return inward
1,000
By bills receivable
10,000
By bal cld
56,000
90,000
56.
58.
59.
90,000
Invoice value = cost + 25%= 10,00,000 + 25% = 12,50,000

Salaries = (10 1,000) + 20% = 12,000
Purchase cost
10,00,000
Add installation charger
1,00,000
11,00,000
Less depreciation @ 20% on SLM
2,20,000
60.
Under sum of digits method. Depreciation for four the year=
23.
Dr.
Particular
3
6 5 4 3 2 1
12,60,000= 18,000
MODEL TEST PAPER 19
To capital
To sales
To debtors
Cash Account
Amount Particular
10,000 By purchases
10,000
5,000 By creditor
15,000
35,000 By salaries
3,000
By rent
9811860116
Cr.
Amount
2,400
By stationery
900
By Drawings
4,000
By miscellaneous exp.
1,000
Page 43

By machine
8,000
. By bal cld.
5,700
57,000
50,000
Wrong amount in nodule

24.
26.
Gross profit = Sales revenue cost of goods sold = 5,00,000 3,10,000 = 1,90,000
Sale consideration
5,200
Less B.V. of machinery
(3,500)
(4,000 - 500)
28.
29.
30.
31.
32.
33.
34.
Less commission paid
(420)
Less Charges to remove cash
(150)
Profit on sale of machinery
1130
Invoice value of good and on approval = 600Less margins
100
Note: 20% on cost = 16.66% on sale

600
Net profit before commission = Gross profit Expense (indirect)= 48,000 6,000 = 42,000
42,000
Net Profit Before Commission
Commission =
=
5% = 2,000
rate 100
100 5%
Commission = NP Rate= (48,000 6,000) 5%;42,000 5% = 2,100
16,000
Let cost be x;Sale = cost + 60%= x + 60% of x= 106x = 16,000X =
= 10,000 = cost
1.6
0.25x
Profit
Let sale be x;Profit = 25% of x;= 0.25x;Cost=x 0.25x =0.75;% of profit on cost =
100 =
Cost
Profit = 20% on sales ie 25% on cost;= 25% of 40,000 = 10,000;Sales = cost + profit
= 40,000 + 10,000 = 50,000;Commission = 5% of 50,000 = 2,500
Dr.
Particular
TRADING AND P & L A/C

Amount Particular
To opening stock
Purchases
Less returns
Carriage inward
16,500 Sales
46,850
Sales returns
(110)
46,740 Closing stock
Cr.
Amount
63,500
450
63,050
18,210
850
Wages
2,500
To CP
14,670
81,260
81,260
General expenses
Rent paid
800 By GP
190
Salaries
140
9811860116
14,670
3,710
Electric charges
Discount allowed
100 = 33.33%
0.75x
2,000
Page 44

To net profit
35.
36.
8,660
14,670
14,670
Closing capital
Less capital in the beginning
12,750
20,000
Less additional capital
2,000
Add. drawing 250 12
3,000
Loss during year
6,250
Overdraft as per cash book

Less cheque sent for collection but not credited by bank
4,500
6,225
Add cheque drawn but not presented
10,250
Overdraft as pass book
475
38.
Provision for doubt full debtor
Dr.
Cr.
200
Bank over draft
1,654
Capital
4,591
Creditors
1,637
Debtors
2,983
Discount received
Discount allowed
252
733
Drawings
1,200
Office furniture
2,155
General expenses
Purchases
829
10,923
Return inward
330
Rat and Rates
314
Salaries
2,520
Sales
Stock
2,418
Stationery
1,175
Provision for depreciation

Total
39.
10,882
Balance as per cash book

Add cheque issued, not presented
Less cheque deposited but balance nt collected
9811860116
364
25,580
25,580
274
730
(477)
Page 45

40.
527
Amount receivable was

Less cash paid
1,000
(500)
Balance of B/R
500
Less 40% received
(200)
Bad debts
41.
300
Cost @ 80 (80 1,000)

Add freight
80,000
1,000
Add cartage
45
81,045
Abnormal loss =
81,045
100 = 81,045
1,000
42.
Cost @ 300
Freight
60,000
500
Insurance
200
Cartage
100
60,800
Closing stock = 50 units (200 - 150);Value of closing stock =
60,800
50 = 15,200
200
43.
Sale
Less purchase cost
1,88,500
80,000
Less reconditioning exp.
43,500
Commissions @ 2%
2,000
Miscellaneous exp.
250
Freight
75,000
Octroi
3,750
Insurance
1,500
Garage Rent
2,500
Brokerage
6,850
Other expenses
4,500
Profit
44.
Profit as per ratio
Guaranteed profit to c
9811860116
36,150
A
20,000
B
16,000
C
4,000
(500)
500
1,000
19,500
15,500
5,000
Page 46

500 each
46.
New profit share ratio

1 3 15
A = 1
=
6 6 36
B = 1
C = 1
D=
10
=
6
6
36
=
6
36
6
6
6
36
15 : 10 : 5 : 6
47.
48.
49.
As sacrifice
;Bs sacrifice
;2 : 1
5
4
5
2
5
2
10
10
G.W. = Average profit No. of years purchase
40,000 20,000 10,000 60,000 80,000
=
3= 1,02,000
5
Good will =
Actualprofit - Normal profit
100=
72,000- 10% (9,70,000- 4,00,000)
Normal rate of return

NTM: Normal profit = Net assets Normal rate of return
51.
th
Capital of A and B = 24,000 + 16,000= 40,000 for 4 share for
= 2,5000
10%
1 th
share of C capital be brought by c 40,000
1
5
= 10,000
52.
Initial capital of
A
1,20,000
Z bring 75,000,so, total capital shall be; 75000
B
54,000
1
3
;= 2,25,000;Xs adjusted capital = 1
2,25,000 = 90,000
5
3
Cash paid to x will be = 1,20,000 90,000 = 30,000

53.
54.
55.
Share forfeited amount per share = (10-1) = 8 ; no loss is given on reissue there fore all the amount of forfeiture is
transferred to CR.;CR = 8 400 = 3200
Amount transfer to CR = 3 500 = 15,000
90,000
90,000
No of share issued =
;=
= 10,000 shares
10 - 10%
issue price
2,70,000
2,70,000- 1,30,000
10 = 30,000
Discount per share=

Issue price
90
56.
Discount on issue of debentures=
57.
58.
Loss on issue of debentures = Discount on issue premium on redemption.= (2% + 5%) of 2,000 100 = 14,000
Called up capital 1,00,000 10 =
10,00,000
Less call in Arrear
10,000
Paid up
9,90,000
Dividend is paid on paid U/o capital;= 9,90,000 15% = 1,48,500

60.
Cost price
9811860116
7,500
Page 47

(+) loading @ 25% on sales
2,500
ie. 33.33% on cost
10,000
Amount transferred to general trading A/c
MODEL TEST PAPER - 20

23.
BALANCE SHEET
Amount Assets
Liabilities
Creditors
45,000 Good will
Capital
1,55,000
Less drawing
12,000
Add NP
22,000
70,000
Pant & machinery
60,000
Investments
25,000
1,65,000
Bank old
15,000 Stock
25,000
Bills payable
10,000 Debtors
35,000
O/s expenses
5,000 Furniture
Bills receivable
. Cash
2,40,000
24.
Gross profit
25.
Dr.
To salaries
10,000
9,000
6,000
2,40,000
= Sales Cogs = 30,000 19,000 = 11,000

P&L Acc
4,000 By gross profit
To intone overdraft
26.
27.
Amount
200 By commission received
Cr.
35,000
4,000
To office expenses
5,000
To rent paid
2,000
To general expenses
5,100
To advertisement
5,000
To net profit (bal)
17,700
39,000
39,000
50000-10000-1600=38400
Debtors
Less provision
30,000
1,500
For baddebts
28,500
Less provision for discount (28,500)
= 570
100
29.
Loan @%
Interest
Less int
9811860116
10,000
900
600
Page 48

o/s inton loan
300
30.
stock on approval sale on approval profit margin5,000 20% on 5,000

= 5,000 1,000 = 4,000
31.
Dr.
To Bal b/d
Loose Tools A/c

4,320 By depriciation
To Bank
32.
Cr.
70,800
1,440 By bal c/d
4,680
5,760
5,760
st
Int on loan @ 9%;From 1 January 9 June 30;=
(15,000 + 4,000 + 5,000)
100
1,080
12
st
+ from 1 July 30 sep.

=
(15,000 + 5,000)
100
450
12
th
st
+ 15 October 31 December
=
(15,000)
100
337.5
12
1,867.5
36.
Profit after interest on capital = 7,800 i.e distributable in 3 : 2

3
Sita 7,800
=
4,680
5
Gita 7,800
3,120
5
37.
Balance as per cash book

Add cheque issue but not presented
10,000
2,300
Less cheque sent to bank bal not credited
2,000
Less BIP paid by bank not entered in cash book
800

38.
96,00
Bank overdraft as per cash book

Less cheque sent for collection not collected
10,500
8,250
Add cheque issued not presented for payment
12,000
Balance as per puss book over draft per unit

39.
6,750
Let his commission be = n + 25;Sale proceeds per units =
73,800
= 164
450
Commission per unit = (164 125 25 - x)
+ 25;X = 2.8
4
Total commission = (2.8 + 25) 450 = 12,510
40.
Cost =
Residual value =
9811860116
1,35,000
5,000
Page 49

Useful life
10 yrs.;Balance at the
th
Beginning of 6 year = 1,35,000 -
1,35,000- 5,000
5
10
th
Depreciation for 6 year = (70,000 - 5000)
= 8,125
8
44.
45.
Sale consideration
Less purchase cost
2,50,000
2,00,000
Less commission to A
2,000
Less commission to B
12,500
Profit
35,500
Closing capital
Less opening capital
16,430
12,000
Less addition capital
4,000
Add drawings
3,000
Profit
3,430
46.
A
Old
5
sacrifice
1
10
10
+ gain
Old 3
5
B
Sacrifice
3
1
5
5
Weight A of profit =
8
40
+ gain
= New
12
25
25
25
48.
11
40
5
47.
= New
21
=
40
25
25
1 43,000 2 50,000 3 52,000 4 65,000 5 85,000

1 2 3 4 5
= 65,000
Good will = 2 6,65,000 = 131,200

49.
Capital amount of mohan will be = (1,02,900 + 73,500)
5
4
50.
Sales
Less profit
= 44,100
= 2,70,000
= 54,000
Cost of goods sold= 2,16,000;Closing stock purchases Cost of goods sold;3,00,000 2,16,000 = 84,000
9811860116
Page 50

51.
52.
Amount of new bill = old bill cash payment + int;2,500 1,000 + 50 = 1,550
Excess amount = salary paid + cost price of goods salary
= 6,000 + 6,000 10,000 = 2,000
53.
Discount = 30,000
12
100
54.
= 600.
12
Cash Book
To Application (25 14,000)
3,50,000
To allotment (35 14,000)
4,90,000
st
To 1 call (35 13,800)
4,83,000
To
. By bal. C/d
13,23,000
13,23,000
55.
56.
57.
58.
59.
60.
13,23,000
Share capital A/c will be Dr. by(2.5 + 1 + 2.5 + 2) 100 = 800

Amount transferred to capital reserve;= 500 (10 - 2) (10 - 8) = 3000
PC
3,30,000
PC = 3,30,000;No of debentures =
=
= 30,000 deb.
110
Issue price
Loss on issue of debentures = discount + premium ;= (0 + 5%) 2,000 100 = 1,000
1
Amount of discount to be written off = 1,00,000 6%
= 1,200
5
1,00,000 6
th
Discount written off in 5 years;=
1 = 400
5 4 3 2 1
VOLUME II
MODEL TEST PAPER 1
22 (C)
23 (B)
24 (C)
25 (A)
26 (B)
27 (B)
AS BEFORE DUE DATE

(160000-20000+120000+100000+80000)/5 = 4,40,000/5 = 88,000 *3 = 2,64,000
800*8 = 6400
250*4 = 1000
3750 is cost so cost shall be trasnferred
P AND L A/C
16000
GP 58000
NP 42000
COMMISSION = 5/105 *42000 = 2000( AFTER )
28 (D)
29
30
SALARY
4000
GP
INT on loan
5000
INTEREST on investment
BAD DEBT
1200
NET PROFIT
16000
CLOSING BAL = 10000+3000+2200-1600 = 13600
PURCHASES 100000
SALES
GP @20%
18000 C/S (BAL FIGURE)
31
WAGES
25000
1200
26200
90000
28000
ONE SIDE ERROR

TO SUSPENSE
32 (C)
OR
9811860116
ANU
5/8
AKSHAY
3/8
ANUP
X
Page 51

SR
33
34 (A)
35
36 (D)
38 (C)
39 (B)
1/5
5/8-1/5
17/40
3/10
SO, 34:22:24=17:11:12
250000*50/100 = 125000
C SHARE = 72000*3/12*2/9 = 72000*6/108 = 4000
12/6__________________12/8 + = 15/8-1 = 14/8
CP = 240000+LOAD =I.E60000 = IP = 300000
LOSS = 40000*20/100*10 = 8000X10/8 = 10000
O/S 40000
PURCHASES 80000
GP 25000
40 (A)
41 (B)
1/8
3/8-1/10
22/80
SALES
C/S
100000
45000(BAL)
LEFT = 45000-30000 = 15000

RIYA = 1000X6.5X10/100 = 650; PIYA = 500X6.5X10/100 = 325;
100000X12/100X3/12 = 3000
97000
50%
975
50% 48500
42 (B)
OR
NR
1/2X2/3
1/3
1/2X2/3
1/3
A
X
1/3
1/3
=1:1:1
43 (C)
150000
5000
127500
1L
10000
5000
35000
44 (A)
45 (C)
46 (B)
47 (D)
48 (A)
49
50
51 (C)
9811860116
GATTU
100000 PUR
10000 FREIGHT
17500 PROFIT
JV
150000
17500
17500
(10000X100+8000)/(10000-1000)X1000 = 1008000/9000X1000 = 112000

500000+20000X10/100 = 52000
22000+2000-8000 = 16000
3+5 (8)X2000 = 16000
RAJ
5200
TO B/R 5000
TO DISC 200
5000 = CP+50%;IP = 7500;LESS-TRADE DISCOUNT 15% (1125)
= 6375
750000X100X10/100 = 75,00,000
200000/(100-20) = 200000/80 = 2500X100
Page 52

52 (A)
ISSUE 20000
APPLIED24000
-----FOR EVERY 24
6 SHARES ----5 SHARES
53 (B)
20 SHARES
P&L APPN
PROFIT 5000
INT
A-2000
B-1250
PROFIT 1750
875
875
54 (A)
PURCHASE 60000
SALES 100000
RETURNS 5000
RETURNS-7000
DUTY
6000
SALES TAX- 12000
GP
32000
(C-S)/60000X5000 = (63000-3000)/60000X5000 = 60000/12 = 5000
56 (A)
MODEL TEST PAPER 2

Q 23
Q 24
Q 25
CP 200000;
IP = 200000+1/4 = 250000 (D)
25% ON SP = ON SP; SO, ON COST = 1/(4-1) = 1/3 = 33.33 (A)
TOTAL COMMISSION = 2/100X70000+X = 1400+X
X = 20/100[70000-(1400+X)-60000];
NOTE 3/5X 100000 = 60000
X = 1/5(10000-1400-X); 5X = 8000-X = 6X = 8600, X = 1433
SO, 1400+1433 = 2833 (C)
INTEREST 10000X15/100X2/12 = 100X15/6 = 250
PURCHASE BOOK
JV
200000+82000
250000
Profit 82000
STOCK
(200000X1/5-20%)32000
10/100(240000+20000) = 26000;NOTE :- AS RATE GIVEN, SCRAP NOT RELEVANT
L = 1/6X60000 = 10000
J
K
L
30000
20000
10000
500X100-40000 = 10000 discount
SC 400X16 = 6400
TO SF 400X12
TO CALLS 400X4
Q 26 (B)
27
29 (D)
30
31 (C)
33 (B)
34 (A)
35
new provision, 10% OF 100000 =
10000
Wrong Ans in Module
37
5/105X84000 = 4000 (C)
38 (D)
100000
6000
9811860116
4000 B/D
To P and L 6000
SALES 100000
Page 53

2000
10000
6000
COMM 2000
3500
39 (C)
40 (A)
41 (A)
25000-2/1000X25000 = 24500
(I) 200000 (II) 350000 (III) 320000 (IV) 6L (V) 7L = 25,10,000
1200X2050
SALES
650X2300
1850 UNITS
42 (B)
C/S
(100000+6000+2000+10000)/1000X250
VIMAl
2/3
76000
-25000
51000
COMMISSION = 300X1850 = 555000
VISHAL
1/3
2/3
1/3
VIMAL34000 76000
VISHAL
17000
YASH 25000
43 (D)
100000
10000
10000
50000
150000
20000
44 (C)
GW =( 58000+55000+61000-50000)X3
3
= (58000-50000 ) X3
= 24000
46 (C)
50 (A)
51 (C)
52 (A)
DIVIDEND ON PAID UP CAPITAL; 12/100X(1000000-110000) = 106800

700X25 10000 = 7500 (35000-25000) = 10000
6/100X7000X100 + 5/100X7000X100 = 7000
TRADING
6000
300000
120000
OR, SALES-COGS = GP; 300000-220000 = 80000
9811860116
Page 54

53 (D)
NOT RECOVERED = 70/100X(100000+1000); = 70700
54 (B)
OR
3/6
2/6
1/6
M
N
O
P
24:14:10:12;
55 (C)
56 (A)
57 (B)
SR
1/10
1/10
NR
24/60
14/60
1/6
2/10
12:7:5:6
S = C(1-D)N
NOTE- N IS POWER, HENCE APPYING IN EACH STAGE OF
ANSWER, AS 3 IS ALSO A POWER.
= 250000(1-.05)^3;
= 216058
DEPRECIATION FOR 3 YEARS = 252000-216058 = 35941
FOR 3RD YEAR = S(N-1)-S(N);
= S(3-1)-S(N) = S2-S3 = 252000(1-.05)2 216058 = 241794-216058
400000/(100-20) = 5000X100 = 5L
50000 + 5000
CASH 5000+5000
TO SALES
50000+5000
TO ST
5000
58 (D)
JY
200000
10000
6000
180000
20000
10000
4000
SHYAM
180000
4000
20000
196000
MODEL TEST PAPER 3

Q21 (B)
A 50000
S 45000
VINEET
TO CASH
12000
C/D 30000
B/D 39000
PROFIT
18000X1/6
V 30000
22 (A)
23 (C)
{20000X10X20/100}/5 = 40000/5 = 80000
R
S
M
3:1
9811860116
OR
5/8
3/8
NR
7/16
5/16
4/16
SR
3/16
1/16
Page 55

24 (D)
25 (A)
27 (A)
28 (D)
29 (B)
30 (B)
32 (A)
33 (C)
45000_____________6000______________54000
+ 1/3 15000
1/10 LOST
2/3 SOLD 36000+20% 7200 = 43200
= 60000
BAL AS PER CB = 1500-100+150+50+50 = 1650
2000*9=18000
GW = (18000-8500+30000+16500)X1.5/4 = 56000/4X1.5 = 21000
Correct Entry-----RATNESH
TO BANK
Wrong Entry----SALES RETURN
TO BANK
Rectifying Entry-----RATNESH
TO SALES RETURN
GP = SALES-COGS = 300000-200000 = 100000
(8000-2000) + 6000X18/100X3/12 = 6000+60X4.5 = 6270
CB CORRECT
B/D 10000
BANK
ASSUMED
-1870
8130
WRONG
10000
34 (A)
35 (A)
BANK 1780
8220
INCREASE IN BANK BALANCE BY 90(8220-8130)
JLP = 100000X4/10 = 40000;rohan=100000*20%=20000
1200-DEP 60+500 = 1640-DEP10/100X6/12 = 1640-82 = 1558
20000
18800 1880 = 16920
16920+1558 = 18478(done in class)
36 (C)
37 (D)
38 (A)
39 (C)
40 (A)
41 (B)
42 (C)
43 (C)
44
45 (C)
CRR = FV-NEW ISSUE, 0=9000X10-9XN; 90000/9 = N = 10000

CP = 200000X1/4 = 50000
100000X.282012 = 28201
200000/(100-20) = 2500X100 = 250000
15000-1000+2000 = 16000
SALES-COGS = GP;110000-1/4X110000 = COGS; = 825000;O/S + PUR-C/S = 82500
200000-C/S = 82500;C/S = 117500
400000X5% = 20000-5000 = 15000
JV
12000
60000
6000
16000
3000
6000
29000
ALOK
60000
9811860116
Page 56

6000
17400
83400
46 (B)
49 (D)
50 (B)
51 (B)
52 (A)
53 (B)
54 (B)
55 (D)
56 (B)
57 (D)
58
(150000 + 100000 + 500000)X3/10 = 90000

(O/S + C/S)/2 = 20000; O/S + C/S = 40000;X+X+4000 = 40000
X= 18000, C/S = 18000+4000 = 22000
SALES-GP = 10000-1/5X10000 = 8000
COMMISSION = 2/100X150000+X = 3000+X
X = 10/100(15000-(3200+X)-120000);10X = 27000-X;11X = 27000;X = 2454, 3000+2454 = 5454
90000X2/3X3/9 = ANKIT = 20000;90000X1/3X3/9 = ANURAG = 10000
800000/(100-20) = 10000
24000
36000 SALES
1500
1500
1/3 GP 9000
500X6.5X5/100 = 5X5X6.5 = 162.5
75X200 BUT Rei SUED 150;SO, 150X25-150X10 = 2250
100000-20000 = 80000X12/100X2/12 = 1600
O/S + PUR + DE CS = COGS;12000+30000+5000-14000 = COGS = 33000
SALES-COGS = 40000-33000 = 7000/-
MODEL TEST PAPER 4

23
1500000/15 = 100000
2006-1L
2007- 1L
2008-1L
BV 2009 = 1500000-300000 = 1200000; (1200000/300000)/(15-3) = 1500000/12 = 125000 (C)
24 (A)
________________________________________
1/10X = 12500; X = 125000
50000-50000X12/100X3/12
24250
50000-1500 = 48500
25 (C)
26 (A)
27 (D)
28 (B)
29
30 (D)
24250
COGS = 2000- 1/5X2000 = 2000-400 = 1600
(42000+39000+45000)X2/3 = 84000
CORRECT - TB
SUPPOSE 1000
Purchase Return 1000
WRONG TB
Sales Return 1000
SUB 100
10000X2 = 20000
R
P
ASH
9811860116
2/3X1/2
2/3X1/2
1/3
NR
1/3
1/3
1/3
Page 57

31 (C)
32
33 (C)
34 (A)
35 (D)
36
37 (D)
38 (C)
39 (B)
40
41
42 (C)
43 (A)
44 (A)
45 (C)
46
47
48 (B)
49 (B)
50 (B)
51 (A)
(120000+10000-5000)/5 = 25000
SP =AP-NP = 6000-125/100X400000 = (60000-50000)X2 = 20000
240000-160000 = 80000 BALANCE + = 12000
RATE OF PROFIT = 80000/160000 =
18/100X100000-150000 = 3000
30000X1/2 = 15000
GP = SR-COGS = 4000000-310000 = 90000
(O/S+C/S)/2 = 12000; O/S+C/S = 24000;X+3000+X = 24000; 2X = 21000
X= 10500, C/S = 13500
200000+1/4 = 250000
CRR = FV-NEW ISSUE; 300000 = 500000-9XN; 200000/9 = N = 22223 SHARES
20000X80/100 = 16000
380000/12.5 = 30400, 30400X10 = 304000
A =L+C; 500000-100000 = 400000+C
OD+1500-100-50-125+400 = 1625
250000+19000 = 269000
35000-700 = 34300-30000 = 4300
20000X10X20/100 = 40000/5 = 8000
12500X10 = 125000
100X20
90X22
200
10X25
300
BAL
COST = (2000+200+300)/100 = 2500/100 = 25
15000
20000X12/100X2/12 = 400
1/3/09_______________8/8/09_________________7/9+3 = 10/9
______30 DAYS__________
52 (C)
53 (B)
(5000X100X20/100)/10 = 10000
55
CRR = 200000-100000 = 100000
57 (WRONG ANSWER)
12500 = X*10/100
X = 125000
75% SOLD________________100000_________________BAL 6250
93750
10 % = 9375 + 25/100X6250 =
58 (B)
45000
85000
13500
7200
5200
28500
59 (A)
60 (B)
100000X12/100 = 12000
(1000X8X+925)/(1000-150) = 8925/850 = 10.50
MODEL TEST PAPER 5

18 (C)
P&L
Subscription =1800-400
9811860116
Page 58

B/S
PREPAID 400
19 (C)
TRAVELLING CORRECT
PURCHASE 10000-2000
SALES 80000
GP 72000
TRAVELLING WRONG
21
24 (B)
29 (A)
30 (B)
31 (C)
PURCAHSE 10000
SALES 8000068500
1500 = 78500
GP WILL DECREASE BY 3500
COST CONCEPT
O/D AS PER CASH BOOK;DEDUCTED BY 1500
REPAIR + WHITEWASHES, 35000
SR
TO RAJESH 5200
SR
TO RAJESH 2500
SUSPENSE 2700
TO RAJESH 2700
DEBTOR 4000
TO B/R 4000
WRONG
DEBTOR
TO B/R 400
- B/R SHOULD BE CREDITED BY 3600
33
34 (D)
35 (a)
20000
SALES 140000
150000
C/S 65000
GP1/4 35000
COGS = 140000-35000 = 105000
300000X15/100 = 45000;255000X15/100 = 38250;216750X15/100 = 32512
20000
20000
50000
10000
Rate on cost = 1/(7-1) = 1/6;Cost = 20000+50000+10000-20000
Profit = 60000x1/6 = 10000;
Sales = 70000
36 (c)
2l
5000
3000
25000
Sales[ 4/5x(16000 + 32000 + 200000) + 1/5]

Stock 1/5x(200000+5000) = 41000
37 (B)
60000
20000
9811860116
80000
Page 59

38 (C)
39 (C)
3X(30000+150000-20000-5000)/4 = 15000
OR
2/3
1/3
M
N
O
NR
3/4X2/3
3/4X1/3
1/4
2:1:1
41 (B)
Share Capital 50X3

TO SF 5X50
TO Share ALLotment 3X50
CRR = 300000-120000 = 180000
45000X1/4 = 11250
5000X125X10/100 = 500X125 = 62500
42 (D)
43
44 (A)
46 (C)
O
P
OR
NR
5/8
3/8
SR
1/8
-1/8
P
51 (A)
52 (D)
54
TO O
50000-50000X15/100X2;= 50000-500X30;= 35000
PUR 80000
SALES 60000
GP 1/6X60000
30000
CP_____________BY______________SP = 10000 (B)
30000
18000
40000
55 (C)
56 (C)
57 (B)
58 (B)
15000
10000
25000
5000
COGS = 15000+25000+5000-10000 = 35000
(40000+5000-5000)/5 = 8000
CRR = 50000-25000 = 25000
A=L+C, 200000-160000 = 40000
MODEL TEST PAPER 6

Q 23
Q 26 (B)
Q 28
29 (A)
30
33
9811860116
BAL AS PER PB = 60000+ 20000 = 80000 (D)

4X100 = 400
180000 = COGS;GP = ON SALES = 1/3 ON COST;180000X1/3 = 60000
4/[4(4+1)]/2X(200000-20000); 2/5X180000 = 72000
S = C(1-D)^N
24 = 100(1-D)^4;24 = (1-D)^4; 4.24 = 1-D;.70 = 1-D
D = 0.3; (B)
30 %
PROVISION
B/D 4000
C/D 10000
BY P&L 6000
BAD DEBT
Page 60
34
TO DEBTORS 6000
12000 (C)
TB
15% LOAN 30000
INT 3000
P&L
BY P&L 6000
INT 3000+1500 = 4500

15% OF 30000 = 4500
CORRECT
O/S 1L
C/S 3L
GP 2L
35
WRONG
O/S 110000
175000
C/S 285000
25000 UNDER
36 (A)
JV
20000
20000
30000
15000
35000
5000
Y
35000
5000
40000
3000
7500
29500
60000-------8000PROFIT = 20000-------1/3 ON COST

37 (B)
70000
39 (C)
BAL 10000+1/3 = 13333

20000X5.5X10/100 = 200X5.5 = 1100
42 (A)
45 (D)
46 (C)
47 (C)
49 (A)
50 (A)
53
9811860116
S1 + G1 = 6000+3000 = 9000
R1 CAPITAL = 9000X5/4X1/5 = 2250
AMOUNT RECEIVED = 200-DISCOUNT FINAL CALL = 200-20-50 = 130
SHARE CAPITAL CALLED = 40
60000-4000/2 = 58000 AS ONLY FULLY PAID
CRR = 75000-40000 = 35000
1.1.08______________31.3.08____30 SEPT_______31 DEC_______31.3.09
200000 @15% = 30000; AS NOTHING MENTIONED = ANY OCT+NOV+DEC = O/S
30000X3/12 = 7500
(60000-12000)/8 = 48000/8 = 61000 (B)
Page 61

55 (A)
57 (D)
59 (C)
60 (A)
RENT 11000
TO SUSPENSE
300X3/5 = 180
50X500 = 250000 +1/5 5000 = 30000
20000
60000
40000
30000
90000 (A)
MODEL TEST PAPER 7

23
24
25
26 (A)
27 (C)
31 (B)
34
36
37 (B)
40 (B)
41 (D)
42 (C)
43 (D)
44
45
46
48
49
50
51 (B)
52
53 (C)
55 (B)
9811860116
SALARY DR 15000
TO PURCHASES 15000
COGS = O/S+PUR+DE-C/S;20000 = 6000+PUR-8000;PURCHASES= 22000 (C)
DEBTOR
B/D 15000
BY CASH 160000
166000
BY BAD 14000
7000 C/D
CASH SALES+CREDIT SALES = 20000+166000 = 186000 (D)
BANK O/D CB 15000+4000-6000 = 13000
BANK BAL PB = 20000-7000+5000 = 18000
40000X1/5 = 8000
SALES = 15000+1/3 = 20000
29.1.10______________2 MONTH_______29/3 + 3 = 1.4.10 (A)
15X2000 = 30000___________+25%_______ = 37500
31.3.09
50000+5000+ = 55000X25/100 = 13750
(15000-0)X3[5(5+1)/2] = 150000X6/(5X6) = 30000
50000/100X10/100 = 5000
CASH 6500
20000
13500/(100-10) = 13500/90 = 150X10 = 1500

DEBTORS
B/D 150000
BY CASH 30000
TO CREDIT SALES (50000-15000)
BY RETURNS 3000
BY BAD DEBTS 7000
BY B/R 15000
C/D 130000 (B)
IP = 300000+1/4 = 375000 (A)
SALE = 80000+1/4 = 100000/-; COMMISSION = 10/100X100000 = 10000 (C)
GP = 70000;NP = 70000-12000;= 58000X10/100
= 58000X10/110;= 58000X1/11; = 5272272 (A)
C/S = 25000-1/5 5000 = 20000 (B)
BALANCE AS PER PB 27400-73000+4447700 = 2100 (C)
OD AP PER PB = 450+105-300 = 255
GP = SALES COGS = 70000-24000 = 46000 (C)
PAID UP = 50000X100-50000 = 4950000X20/100 = 99000
12/100X170000 = 20400-700 = 1340 (B)
Page 62

56
1500
4000
C/D
24500
57
58 (A)
59
B/D
30000
(B)
10000-2000 = 8000+3000 = 8300 (B)

500000X10/100X1/5 = 10000
CR = 1000X(10-9)-1000X(10-6) = 6000-4000 =2000 (C)
MODEL TEST PAPER 8

23 (C)
24 (A)
25
27
28
29
30 (D)
31 (B)
COGS = O/S + PURCHASE C/S = 10000+30000-5000 = 35000

(500000-5000)/9 = 5000 PA (A)
P&L
RENT 10000
GP 70000
SALARIES 8000
APP PREMIUM 12000
NP 64000(D)
COGS = O/S + PURCHASE C/S
SALES-GP = COGS;160000-1/5 160000 = 148000
148000 = 200000-C/S; C/S = 52000
CASH DR
TO BAD DEBTS RECOVERED-----------NIL (D)
DRAWING DR
TO PETTY CASH 20000 (C)
REPAIR NIL AS AMOUNT WILL BE CAPITALISED
50000
C/D 250000
200000 B/D
100000 PROFIT
100000
20000
120000
32 (D)
33 (C)
34
35 (B)
6
4
70
70
12000
800
CP = 20000+20%X20000; = 24000-10% = 21600
(5/100+5/100)X100X10000/100 = 1000
X
Y
Z
36
37
39
40 (D)
9811860116
OR
7/10
3/10
SR
1/7X7/10
1/3X3/10
NR
6/10
2/10
1/10+1/10
6:2: = 3:1:1
CP = 40000+1/4X40000 = 50000
COMMISSION = 2/100 X INVOICE + X;= 2/100X16000+ X
= 320 + X = 320+160 = 480 (D); X = 10/100(17600-16000) = 10/100(1600) = 160
200000-1/3X200000 = 133333 (C)
CP = 45000+1/3X45000 = 60000
Page 63

41 (B)
2500
DRAWINGS 10000
IO 300
C/D 13450
42 (C)
43
150000 = 20000+PUR-40000;
PUR = 170000
OR
5/8
3/8
M
S
SHYAM
SR
1/10
1/10
NR
42/80
22/80
1/5
42:22:16 = 21:11:8
15/100(500000-20000); 480000X15/100 = 72000
(150000-20000)/10 = 13000 (A)
60000 AS INSURANCE CLAIM CAN NOT EXCEED INSURED VALUE
8000 = 2500+PUR+1000-3000; 7500 = PUR (B)
80000 = PUR-C/S(30000);PUR 110000; SALES-COGS = 160000-80000 = 80000 (C)
(80000-12000)X30/100 = 20400
44 (D)
48
51 (D)
53 (B)
54
56 (D)
57
58
59
15000 B/D
1500 NP
750 IOC
RAM
RANIM
RAHMAN
4:2:1 (B)
8/100X100 = 8(A)
OR
4/7
3/7
SR
1/7
NR
4/7
2/7
1/7
P&L
SALARY 72000
O/S 72000/9X3 =
24000
B/S
24000 (C)
MODEL TEST PAPER-9

23 (B)
CASH SALES+CREDIT SALES = 70000+193000 = 263000

B/D 30000
200000 BY CASH
193000
7000 BY BAD DEBT
TO CREDIT SALES
C/D 16000
25 (B)
JV
52500
17500
60000
10000
26 (C)
K
L
9811860116
OR
SR
1/4X1/2
1/4X1/2
NR
3/8
3/8
Page 64

M
1/4
3:3:2
27
OR
4/9
3/9
2/9
X
Y
Z
GR
13/72
X
11/72
NR
5/8
SR
1/3X4/9
1/3X3/9
1/3X2/9
NR
SR
1/10
1/10
NE
5/10
3/10
2/10
3/8
13:11 (C)
(60000-10000)/8 = 6250
RATE = 6250/60000X100 = 10.416% (A)
28
31
OR
4/9
3/9
2/9
R
S
M
SOHAN
4/27:3/27:2/27 = 4:3:2 (B)

32 (B)
OR
3/5
2/5
Y
Z
X
1:1
34 (D)
35
36
OR
NR
SR
M
1/3
1/3X3/5
N
1/3
1/3X2/5
O
1/3
3/15:2/15 = 3:2
GW = 1.5X(30000+20000+20000-5000-5000-3000-2000)/6 = 1.5X10000 = 15000 (B)
CASH
TO X 100000
C/D 500000 (C)
TO SALES 50000
TO DRS 350000
TO SALES 450000
37
BY CASH
C/D 10000
35000
CHAIR __________OUT
-------------- NEW
10000 2000 = 8000 (C)
30000X20/100 = 5000 PROFIT
9811860116
Page 65
41
43 (C)
CP = 125000(A)
10000/4 = 2500
CAPITAL A/C
TO CASH 5000
C/D 25000
B/D 20000
BY CASH 6000
4000 PROFIT (C)
44
49
51
52
DUE DATE---------FACE VALUE OF BILL = 100000X1/2 = 50000 (D)

5000X10/100X6/12 = 250 (C)
10/100X70000 = 7000-3500 = O/S 3500(A)
_______1.10.08_______31.3.09_________31.3.10
40000
38000 BY
34000 BY
SOLD FOR 36000
PROFIT 36000-34000 = 200 (D)
53
TRADING A/C
100000-9000
160000-8000 = 152000
61000 (B)
54 (D)
3X(10000+15000+20000+15000)/4;
3X15000 = 45000
60
5000X6.5X20/100 = 1000X6.5 = 6500 (C)
59
30000+25/(100-25)X30000 = 40000 (D)
MODEL TEST PAPER 10

23
26
10000X12/100X(90-36)/360 = 180 (C)

DEBTOR
TO CREDIT 100000-20000
BY CASH 50000 (B)

C/D 30000
150000 = 60000+PUR-40000; PURCHASES = 130000 (A)
3/10X(50000+100000+150000); 300000X3/10 = 90000 (A)
(500000-50000)/15 = 30000;RATE = 300000/500000X100 = 6%
(10%+5%)X20000 = 3000 (C)
(20000-6500)/(100-10) = 13500/90X10/100X100 = 1500
150X100X10/100 = 1500 (B)
600000X12/100 = 72000 (B)
10/100X10000X100 = 100000 (C)
SHARE CAPITAL ALWAYS BY CALled
SO, BY 18 (B)
SALARY DR
560000
TO CASH
500000
TO TAX
50000
TO PROFESIONAL TAX 10000
27
29
30
31 (C)
32
35
36
38
39 (C)
40 (B)
RAM
MOHAN
SOHAN
OR
NR
2/3X1/2
2/3X1/2
1/3
1/3
1/3
1/3
OR
5/12
4/12
GR
3/10X4/7
3/10X4/7
NR
5/12+12/70 =
(350+144)/840
1:1:1
41 (D)
A
B
9811860116
Page 66

C
3/12
494:424 = 47:37 (D)

42 (A)
SALES-COGS; 60000-45000 = 15000 (A)
43 (A)
1.1.07_(I)___20000___(II)___16000____(III)____12800____________
100000
80000
64000
31000
LOSS = 100000(20000+16000+12800+31000)
= 100000-79800 = 20200 (A)
44 (A)
24000X20/(100+20) = 4000 (A)
46
OR
NR
M
3/6
5/12
N
2/6
4/12
O
1/6
2/12
D
1/12
47
48
49
55 (B)
58
9811860116
(280+144)/840
SR
1/12
0
X
X (C)
SHARE FORFEITED ALWAYS WITH PAID UP AMOUNT = 100X7 = 700 (C)

15/100 (100000-10000) = 13500 (B)
900000/(100+25) = 900000/125 = 7200SHARE (A)\
COGS = O/S+PUR-C/S; SALES-GP = COGS
160000-1/5X160000 = X+200000-C/S; C/S = 72000 (B)
SALES-GP = COGS;21000-40/140X21000 = COGS;21000-6000 = 15000 (B)
Page 67

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CPT-MODEL TEST PAPER

ACCOUNTS CLASSES BY PANKAJ SIR

CPT-MODULE-VOLUME I-MODLE TEST PAPER 1 .............................................................................................................................. 3

ACCOUNTS CLASSES BY PANKAJ SIR

ACCOUNTS CLASSES BY PANKAJ SIR

Share Capital 2000X9= 18000(ANS IS D)

05-06,06-07,07-08,08-09,09-10, thus total five years, thus 1+2+3+4+5=15, so 1/15*300000=20000

ACCOUNTS CLASSES BY PANKAJ SIR

MODEL TEST PAPER 2

ACCOUNTS CLASSES BY PANKAJ SIR

ACCOUNTS CLASSES BY PANKAJ SIR

MODEL TEST PAPER 3

ASSETS = LIABILITIES +CAPITAL

ACCOUNTS CLASSES BY PANKAJ SIR

ACCOUNTS CLASSES BY PANKAJ SIR

MODEL TEST PAPER 4

NIL AS BUSINESS STARTED

ACCOUNTS CLASSES BY PANKAJ SIR

8000-2000 = 6000X18%X3/12 = 270 ; =6270

MODEL TEST PAPER-5

ACCOUNTS CLASSES BY PANKAJ SIR

12000 12000 12000

ACCOUNTS CLASSES BY PANKAJ SIR

7000-1800-200-2850-150 = 2000;(1800/90% = 2000-1800 = 200 DISCOUNT);2850/95% = 3000

MODEL TEST PAPER-6

480000X125/100 = 6L, 120000

ACCOUNTS CLASSES BY PANKAJ SIR

76000-25000=51000 AMONG X AND Y IN 2:1

MODEL TEST PAPER-7

ACCOUNTS CLASSES BY PANKAJ SIR

70% OF 10000 = 7000

ACCOUNTS CLASSES BY PANKAJ SIR

120000 CONSIGNEE so not in our books

25000 has value 5000/

+ SALES250000 + 500000-150000 = 230000

MODEL TEST PAPER 8

CB BALANCE = 100000-10000 = 90000

ACCOUNTS CLASSES BY PANKAJ SIR

SALES 10L X 25/100 = 250000-10000

ACCOUNTS CLASSES BY PANKAJ SIR

MODEL TEST PAPER 9

10/8___________SEPT____ OCT________MAR + 3 = 13/4

ACCOUNTS CLASSES BY PANKAJ SIR

40000X1/10 = 4000 C SHARE

ACCOUNTS CLASSES BY PANKAJ SIR

NEW CAPITAL -75000X3 = 225000

PROFIT-LOSS = 400X8-0 = 3200

ACCOUNTS CLASSES BY PANKAJ SIR

800X3X500/800 500X0 = 1500

MODEL TEST PAPER 10

PURCHASE 50000 SALES 60000 (B) revenue

MODEL TEST PAPER 11

ACCOUNTS CLASSES BY PANKAJ SIR

90,000 = 72,000;72,000 = Purchase C/S;72,000 = 1,00,000 cls, cls = 28,000

Sales profit = 90,000-

MODEL TEST PAPER 12

O/S + purchases + direct expenses C/S

ACCOUNTS CLASSES BY PANKAJ SIR

40000 + 1000 2400 53600 = 41000 56000

7500 600 1200

ACCOUNTS CLASSES BY PANKAJ SIR

Balance;= 2000 Instalment

10/8___SEPT OCTMAR + 3 = 13/4

30000+500/10030+1300/8530, SO ANS NONE OF THE ABOVE