AISSCE Practical Examination - 2019 - Accountancy

GRPS –AISSCE - 002

Dr GR PUBLIC SCHOOL, NEYYATTINKARA

AISSCE Practical Examination - 2019

Class: XII                           ACCOUNTANCY                           Marks: 12

Time: 40 mts.

General Instructions:

a) This Question Paper contains three questions. You have to answer all questions.

b) First two questions carry 3 marks each and third question carries 6 mark.

1.  Following information is given by a company from its books of accounts as on March 31, 2015:                                                                                                                [3]

Inventory                                          2,00,000

Total Current Assets                         2,60,000

Shareholders’ funds                          5,00,000

15% Debentures                                3,00,000

Current liabilities                              1,50,000

Net Profit Before Tax                        3,50,000

Cost of revenue from operations       4,00,000

Calculate:

a) Debt Equity Ratio

b) Interest Coverage Ratio

c) Inventory Turnover Ratio

2.     The quarterly report of a company gives the following information about sales revenue and net profit for the Second quarters of past three years. Compare the two  quarters and find out which one better one. Comment which one is better.                        [3]

                                                                                                                                                                                                                

Particulars	2014-15	2014-13	2013-12
Sales Revenue Net Profit	2000000 500000	1800000 400000	1500000 200000

3.     Following are the Balance sheets of Wisben Ltd. as on 31^st March 2015 and 2014.

Particulars	Note No.	2015	2014
1.      Equity & Liabilities i)                    Shareholder Fund (a)              Share capital (b)              Reserve & Surplus ii)      Non-current liabilities Long term borrowings  iii)    Current liabilities                         Trade payable                                     Total 2.      Assets i)                    Non-Current Assets (a)              Fixed Assets Tangible assets ii)                  Current Assets (a)              Inventories (b)              Trade Receivables (c)                     Cash and Cash equivalents                             Total		7,00,000 2,00,000 3,00,000 30,000 12,30,000 11,00,000  70,000 32,000 28,000 12,30,000	6,00,000 1,10,000 2,00,000 25,000 9,35,000 8,00,000 60,000 40,000 35,000 9,35,000

Adjustments

At the beginning of the year a piece of machinery of the book value of Rs. 80,000 was sold for Rs. 65,000. Depreciation provided on tangible assets during the year amounted to Rs. 2,00,000.

Prepare a Cash Flow Statement.

GRPS –AISSCE - 002

AISSCE Practical Examination - 2018

Class: XII                           ACCOUNTANCY                           Marks: 12

  Time: 45mts.

MARKING SCHEME

Question No.	Value Points	Marks
1.	1) Debt-Equity Ratio        =                   = 0.6 : 1 2) Interest Coverage Ratio =                                 = 3) Inventory Turnover Ratio =                   = 2 times	3
2.	Net Profit Ratio = Net Profit Ratio 0f 2013-12= 25% Net Profit Ratio 0f 2014-13= 22% Net Profit Ratio 0f 2015-14 = 13%            Comparing the three years performance the last year’s second quarter performance is the better one.	3
3.	Cash flow from Operating Activities 293000 Cash flow from Investing Activities (500000)       Cash flow from Financing Activities 200000.	6