t s grewal

Accountancy 2012

( Delhi Set 3)

67/1/3

General Instructions:
Same as given in Delhi set 1

PART—A
(Accounting for Not-For-Profit Organisations, Partnership Firms and
Companies)
Q.1. Refer Q.3 Delhi Set 1
Q.2. Refer Q.1 Delhi Set 1
Q.3. Refer Q.5 Delhi Set 1
Q.4. Refer Q.2 Delhi Set 1
Q.5. Refer Q.4 Delhi Set 1
Q.6. Refer Q.7 Delhi Set 1
Q.7. Refer Q.8 Delhi Set 1
Q.8. Refer Q.6 Delhi Set 1
Q.9. Refer Q.10 Delhi Set 1
Q.10. Refer Q.11 Delhi Set 1
Q.11. Refer Q.9 Delhi Set 1

1
1
1
1
1
3
3
3
4
4
4

Q.12. Pass necessary Journal entries for the following transactions in the books of N.R.
Ltd.
(i) Redeemed 1,200, 9% Debentures of ` 175 each by conversion into New 10%
Debentures of ` 100 each issued at a premium of 5%.
(ii) Redeemed 19,000, 6% Debentures of ` 50 each into Equity Shares of ` 100 each. The
Equity Shares were issued at a discount of 5%.
6
Ans.
In the books of N.R. Ltd.
Journal
Date

Particulars
9% Debentures A/c
Dr.
To Debentures Holder’s A/c
(Being the amount due to debenture holders) Debentureholders A/c
Dr.
To 10% Debentures A/c
To Security Premium A/c
(Being 2000, 10% debentures issued at a premium of 5%)
6% Debentures A/c
Dr.
To Debentures Holder’s A/c
(Being redemption of debentures due)
Debentures Holder’s A/c
Dr.
Discount on issue of shares A/c
Dr.
To Equity Share Capital A/c
(Being Debentures redeemed by issuing equity shares at a discount of 5%)

L.F.

Dr.(`)
2,10,000

Cr.(`)
2,10,000

2,10,000
2,00,000
10,000

9,50,000
9,50,000
9,50,000
50,000
10,00,000

Working Note:
(ii) No. of New Debentures issued = 2100000= 2000 Debentures
105
(I) No. of Equity shares =Amount Due to holders = 950000 = 10000 Equity Shares
Issue Price per share
95

Q.13. A and B were partners in a firm sharing profits in the ratio of 3 : 2. On 31-3-2011 the Balance Sheet of the firm was as follows
Balance Sheet of A and B as on 31.3.2011
LiabiLities
Capitals
A
3,00,000
B