Principles and Practice of Accounting - September 2025

2. (a) The following are the details of machineries held by a firm : 8 Machine | Purchase Purchase Useful Scrap Date Value (%) Life Value (®) MI 01/04/2020 11,00,000 8 years 20,000 m2 | 01/04/2022 | 9,40,000 | Syears | 40,000 M3 01/04/2024 8,10,000 5 years - The firm uses ‘sum of years digits’ method for charging depreciation and maintains a separate account for it. On 1* April, 2024, the M1 machine has become obsolete and has been sold…

3. (a) From the following particulars furnished by Mr. Wye, prepare his 12 Trading and Profit & Loss Account for the year ended on 31‘ March, 2025. Also prepare his Balance Sheet as on 31% March, 2025 : 01.04.2024 | 31.03.2025 Creditors 6,30,800 4,96,000 Expenses Outstanding 24,000 13,200 Fixed Assets (including machinery) | 4,64,400 4,81,600 Stock in hand 3,21,600 4,44,800 Cash in hand 1,18,400 48,000 Cash at bank 1,60,000 2,75,200 Sundry Debtors 6,61,200 ? Details of the year’s transactions are…

(a) Attempt any ONE of the two sub-parts i.e. either (i) OR (ii) (i) From the following information supplied by Mr. D, prepare a 5 Bank Reconciliation Statement as on 31% amending the cash book on that date : March, 2025 after (1) Bank overdraft as per Bank statement 20,000 (2) Cheques issued but not presented for payment 11,000 | (3) Cheques recorded in the bank column of the cash book but not sent to the Bank ‘for 4 …

5 0 per ton jot the bill of closing WIP |, 2024. On 2,40,000 thed Q for % 1,00,000 1,50,000 ths on the cept a new 84,000 rangements | | 2™4 April, of Mr. Sahil for the year ended on P.T.O. (13) PSR Marks (c) Alpha Limited has an Authorized Equity Share Capital of 7 20 lakhs 10 divided into equity shares of % 100 each and 10% Redeemable Cumulative Preference Shares of % 5.00 lakhs divided into 7 100/…

(a) ABC Limited has issued 1,20,000 Equity shares of = 10 each at 15 premium of % 2 per share for public subscription payable as follows : On applitation % 2 per share; on allotment % 5 per share (including prernium); on first call % 2 per share; on second and final call % 3 per share. Application has been received for 1,80,000 shares. Allotment has been made pro rata to the applicants for 1,44,000 shares, the remaining a applications…