AHSEC Class 12 Accountancy' Final Accounts Solution 2012-2022 | HS 2nd Year Final Accounts Solution From Previous Year Questions

AHSEC CLASS 12 ACCOUNTANCY: FINAL ACCOUNTS SOLUTION (2012-2022): In this Post we have uploaded AHSEC Class 12  Previous  Year Final Account Practical Solution from Year 2012 to 2022. HS 2nd Year Final Accounts Solution can be very useful for the students those who are Preparing for Upcoming AHSEC 12th Board Exam. 

AHSEC CLASS 12 ACCOUNTANCY 

Final Accounts Practical Problems & Their Solution  (2012-2022)  AHSEC 

AHSEC 2022 Final Accounts Solution 

HS 2ND YEAR ACCOUNTANCY: PREVIOUS YEAR FINAL ACCOUNTS COMPLETE SOLUTION FROM 2012-2022

AHSEC CLASS 12 ACCOUNTANCY UNIT -WISE NOTES

Part - A 

Unit-1 : Accounting For Not-For-Profit Organisations

Unit-2 : Accounting For Partnership : Basic Concepts

Unit-3 : Reconstitution of Partnership Firm:Admission of a Partner (i)

Unit- 3 : Reconstitution of Partnership Firm:Admission of a Partner (II)

Unit-4: Reconstitution of Partnership Firm:Retirement and Death of a Partner

Unit-5: Dissolution of Partnership Firm 

FINAL ACCOUNTS 2000 TO 2006

PREPARED BY The Treasure Notes 

[A.H.S.E.C. – 2000]. Abhijit and Surojit are partners in a firm sharing Profit and Loss in the ratio of 3:2 respectively. The Trial Balance of the firm as on 31st March, 2007 was as follows:

Trial Balance

Debit	Rs.	Credit	Rs.
Furniture Land & Building Drawings :        Abhijit        Surojit Cash at Bank Sundry Debtors Salaries Insurance Bad Debts Closing Stock	6,250 21,000 1,200 800 7,900 10,000 13,250 1,900 100 7,580	Rent Received Provision for doubtful debts Capital Accounts :         Abhijit         Surojit Wages outstanding Trading Account (Gross Profit)	600 800 20,000 13,000 200 35,380
	69,980		69,980

Prepare Profit and Loss Account and Profit and Loss Appropriation Account for the year ended 31st March, 2007 and a Balance Sheet as at that date after taking into consideration the following:

1. Outstanding expenses: Salaries Rs. 350;
2. Insurance was prepaid to the extent of Rs. 200;
3. Depreciate Furniture @ 4% p.a.
4. Provision for doubtful debts to be maintained at 3% of Debtors;
5. Interest on capital to be allowed @ 5%
6. Surojit was to receive a salary of Rs. 250 per month.

Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To Depreciation on Furniture To Salaries                                           13,250 Add: Outstanding Salaries                     350 To Insurance                                         1,900 Less: Prepaid                                            200 To B/d                                                         100 Add: Provision for B/d (New)                300 To Net Profit	250 13,600 1,700 400 20,830	By Gross Profit By Rent Received By Provision for d/d (old)	35,380 600 800
	36,780		36,780

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Abhijit  = 20,000 x 5% Surojit  = 13,000 x 5% To Salaries: Surojit = 250 x 12 To Share of Profit: Abhijit = 16,180 x 3/5 Surojit = 16,180 x 2/5	1,000 650 3,000 9,708 6,472	By Net Profit	20,830
	20,830		20,830

Partner’s Capital A/c

Particulars	Abhijit	Surojit	Particulars	Abhijit	Surojit
To Drawings To Balance c/d	1,200 29,508	800 22,322	By Balance b/d By Interest on Capital By Partner’s Salaries By P/L Appropriation A/c	20,000 1,000 - 9,708	13,000 650 3,000 6,472
	30,708	23,122		30,708	23,122

Balance Sheet

Liabilities	Amount	Assets	Amount
Outstanding salaries Outstanding wages Capital Accounts: Abhijit = 29,508 Surojit = 22,322	350 200 51,830	Furniture                                    6,250 Less: Depreciation @ 4%            250 Land & Building Cash at bank Sundry Debtors                         10,000 Less Provision for d/d @ 3%        300 Insurance Prepaid Closing Stock	6,000 21,000 7,900 9,700 200 7,580
	52,380		52,380

[A.H.S.E.C. - 2001]. Following is the Trial Balance of Bora Brothers as on 31st March, 2007.

Debit	Rs.	Credit	Rs.
Plant & Machinery Salaries Freight on Sales Building Goodwill Furniture Sundry Debtors Bad Debts Cash at Bank Investment Cash in hand Establishment Stock Environment Protection Expenses Drawings :    Ramen Bora    5,000    Pradip Bora     3,000 Publicity	35,000 15,850 2,140 54,000 15,000 10,000 48,200 1,400 1,200 10,000 170 13,000 10,000 5,500 8,000 5,000	Capital Account :   Ramen Bora   Pradip Bora Trading Account (Gross Profit) Creditors Bank Loan Sundry Receipts Commission Outstanding Wages Provision for Doubtful Debts.	50,000 30,000 85,700 44,560 21,000 1,000 1,000 200 1,000
	2,34,460		2,34,460

Prepare the Profit and Loss Account and the Profit and Loss Appropriation Account of the firm for the year ended 31.3.2000 and Balance Sheet as at that date after taking into consideration of the following:

1. Outstanding salary Rs. 500;
2. Prepaid publicity Rs. 500;
3. Depreciate plant and machinery @ 10% p.a.
4. Commission received in advance Rs. 200;
5. Provide for doubtful debts @ 5% on sundry debtors;
6. Allow interest on partner capitals @ 5% p.a.

[2001]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To Depreciation on P/M To Salaries                                  15,850 Add: Outstanding Salaries            500 To Freight on sales To B/d                                                     1,400 Add: Provision for B/d (New)            2,410                                                                  3,810 Less: Old Provision                               1,000 To Establishment To Environment P/Expenses To Publicity                               5,000 Less: Prepaid                               500 To Net Profit	3,500 16,350 2,140 2,810 13,000 5,500 4,500 39,700	By Gross Profit By Sundry receipts By Commission                     1,000 Less: Advance                           200	85,700 1,000 800
	88,500		88,500

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Ramen Bora  = 50,000 x 5% Pradip Bora   = 30,000 x 5% To Share of Profit: Ramen Bora = 35,700 x 1/2 Pradip Bora  = 35,700 x 1/2	2,500 1,500 17,850 17,850	By Net Profit	39,700
	39,700		39,700

Partner’s Capital A/c

Particulars	Ramen Bora	Pradip Bora	Particulars	Ramen Bora	Pradip Bora
To Drawings To Balance c/d	5,000 65,350	3,000 46,350	By Balance b/d By Interest on Capital By P/L Appropriation A/c	50,000 2,500 17,850	30,000 1,500 17,850
	70,350	49,350		70,350	49,350

Balance Sheet

Liabilities	Amount	Assets	Amount
Outstanding salaries Creditors Bank Loan Commission received in advance Outstanding wages Capital Accounts: Ramen Bora Pradip Bora	500 44,560 21,000 200 800 65,350 46,350	Plant & Machinery                    35,000 Less: Depreciation @ 10%         3,500 Land & Building Goodwill Furniture Sundry Debtors                         48,200 Less Provision for d/d @ 5%     2,410 Cash at bank Investment Cash in hand Closing Stock Prepaid Publicity	31,500 54,000 15,000 10,000 45,790 1,200 10,000 770 10,000 500
	1,78,760		1,78,760

[A.H.S.E.C. – 2002]. Saurav and Gaurav are partners in a firm sharing Profit and Loss equally. The Trial Balance of the firm as on 31st March, 2001 was as follows:

Trial Balance

Debit	Rs.	Credit	Rs.
Sundry Debtors Furniture Land & Building Salaries Insurance Bad debts Cash at Bank Discount Bank charges Carriage Outward Drawings :      Saurav      Gaurav	10,000 16,000 21,000 13,200 2,000 200 15,000 580 420 570 4,000 2,500	Trading Account     (Gross Profit) Rent received Provision for bad debts Outstanding wages Sundry Creditors Bills Payable Commission Sundry receipts Capital :      Saurav      Gaurav	35,620 600 800 200 10,000 2,000 250 1,000 20,000 15,000
	85,470		85,470

Prepare Profit and Loss Account and Profit and Loss Appropriation Account for the year ended 31st March, 2001 and a Balance Sheet as at that date after taking into consideration the followings:

1. Outstanding Salary Rs. 300;
2. Prepaid Insurance Rs. 200;
3. Depreciate furniture 10%, Land & Building 10%;
4. Provision for Doubtful Debts to be maintained at 10% of Debtors.
5. Saurav was to receive a Salary of Rs. 300 per month.

[2002]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To B/d                                                         200 Add: Provision for B/d (New)             1,000                                                                   1,200 Less: Old Provision                                  800 To Depreciation on Furniture To Depreciation on Land & Building To Salaries                                  13,200 Add: Outstanding Salaries            300 To Insurance                              2,000 Less: Prepaid                                 200 To Discount To Bank Charges To Carriage outward To Net Profit	400 1,600 2,100 13,500 1,800 580 420 570 16,500	By Gross Profit By Rent Received By Commission By Sundry Received	35,620 600 250 1,000
	37,470		37,470

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Salaries 300 x 12 To Share of Profit: Saurav   Gaurav	3,600 6,450 6,450	By Net Profit	16,500
	16,500		16,500

Partner’s Capital A/c

Particulars	Saurav	Gaurav	Particulars	Saurav	Gaurav
To Drawings To Balance c/d	4,000 26,050	2,500 18,950	By Balance b/d By Salaries By P/L Appropriation A/c	20,000 3,600 6,450	15,000 - 6,450
	30,050	21,450		30,050	21,450

Balance Sheet

Liabilities	Amount	Assets	Amount
Outstanding salaries Outstanding wages Sundry Creditors Bills Payable Capital Accounts: Saurav Gaurav	300 200 10,000 2,000 26,050 18,950	Sundry Debtors                          10,000 Less Provision for d/d @ 10%    1,000 Furniture                                     16,000 Less: Depreciation @ 10%         1,600 Land & Building                          21,000 Less: Depreciation @ 10%          2,100 Insurance Prepaid Cash at Bank	9,000 14,400 18,900 200 15,000
	57,500		57,500

[A.H.S.E.C. - 2003]. Following is the Trial Balance of Jadu and Madhu as on 31st March, 2002:

Debit	Rs.	Credit	Rs.
Machinery Furniture Copy Right Building Salaries Taxes General Expenses Bills Receivable Debtors Charity Investment Bank Balance Cash in hand Drawings :                  Jadu                  Madhu Closing Stock	3,00,000 8,000 10,000 1,35,000 16,000 800 1,000 1,800 42,800 1,400 30,000 15,000 600 12,000 8,000 20,000	Capital :              Jadu              Madhu Reserve Fund Outstanding Wages Bad Debts Provision Bills Payable Sundry Creditors Trading Account (Gross Profit) Profit from Joint Venture Profit from Branch	2,40,000 1,60,000 19,000 400 1,400 42,400 13,200 1,24,600 1,000 400
	6,02,400		6,02,400

Prepare Profit and Loss Account and Profit and Loss Appropriation Account for the year ended 31st March, 2002 and also a Balance Sheet as on that date after taking into consideration the following adjustments:

1. Partners are entitled to interest of Capital at 5% p.a.
2. Transfer 10% of Net Profit to Reserve Fund.
3. Bad Debts provision has to be increased to 5% on Debtors.
4. Interest on Investment accrued Rs. 500.
5. Depreciate Machinery @10%

[2003]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To Depreciation on Machinery To Salaries To Taxes To General Expenses To Provision for b/d (New)                 2,140 Less: Provision for b/d (old)               1,400 To Charity To Net Profit	30,000 16,000 800 1,000 740 1,400 76,560	By Gross Profit By Profit from Joint Venture By Profit for Branch By Interest on Investment	1,24,600 1,000 400 500
	1,26,500		1,26,500

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Jadu = 2,40,000 x 5% Madhu = 1,60,000 x 5% To Transfer to Reserve (76,560 x 10%) To Share of Profit: Jadu = 48,904 x 1/2   Madhu = 48,904 x 1/2	12,000 8,000 7,656 24,452 24,452	By Net Profit	76,560
	76,560		76,560

Partner’s Capital A/c

Particulars	Jadu	Madhu	Particulars	Jadu	Madhu
To Drawings To Balance c/d	12,000 2,64,452	8,000 1,84,452	By Balance b/d By Interest on Capital By P/L Appropriation A/c	2,40,000 12,000 24,452	1,60,000 8,000 24,452
	2,76,452	1,92,452		2,76,452	1,92,452

Balance Sheet

Liabilities	Amount	Assets	Amount
Reserve Fund                          19,000 Add: Transfer to Reserve       7,656 Outstanding wages Bills Payable Sundry Creditors Capital Accounts: Jadu Madhu	26,656 400 42,400 13,200 2,64,452 1,84,452	Machinery                               3,00,000 Less: Depreciation @ 10%       30,000 Furniture Copy Right Building Bills Receivable Sundry Debtors                          42,800 Less Provision for b/d @ 5%     2,140 Bank balance Cash in hand Investment                                30,000 Add: Accrued                                  500 Closing Stock	2,70,000 8,000 10,000 1,35,000 1,800 40,660 15,000 600 30,500 20,000
	5,31,560		5,31,560

[A.H.S.E.C. – 2004]. Kamal and Bimal are partners in a partnership firm sharing profits and losses in the ratio of 2:1 respectively. The Trial Balance of the firm as on 31st March, 2003 was as follows:

Debit	Rs.	Credit	Rs.
Furniture Land & Buildings Drawings :                  Kamal                  Bimal Closing Stock Insurance Salaries Sundry Debtors Cash at Bank Discount	16,000 20,000 1,500 1,000 8,500 2,000 12,500 10,000 8,200 2,000	Capital :              Kamal              Bimal Trading Account (Gross Profit) Bad Debts Provision Creditors Sundry Receipts	20,000 15,000 40,250 300 4,150 2,000
	81,700		81,700

Prepare Profit and Loss Account, Profit and Loss Appropriation Account for the year ended 31st March, 2003 and also a Balance Sheet as on that date after taking into consideration the following adjustments:

1. Outstanding salary Rs. 500.
2. Provision for bad debts to be created @ 5% on Sundry Debtors.
3. The Partners are entitled to interest on capital @ 5% p.a.
4. Depreciate land & building @ 10% p.a.

[2004]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To Depreciation on Building To Insurance To Salaries                             12,500 Add: Outstanding                      500 To Provision for b/d (New)                    500   Less: Provision for b/d (old)                  300 To Discount To Net Profit	2,000 2,000 13,000 200 2,000 23,050	By Gross Profit By Sundry Receipts	40,250 2,000
	42,550		42,250

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Kamal = 20,000 x 5% Bimal  = 15,000 x 5% To Share of Profit: Kamal = 21,300 x 2/3   Bimal  = 21,300 x 1/3	1,000 750 14,200 7,100	By Net Profit	23,050
	23,050		23,050

Partner’s Capital A/c

Particulars	Kamal	Bimal	Particulars	Kamal	Bimal
To Drawings To Balance c/d	1,500 33,700	1,000 21,850	By Balance b/d By Interest on Capital By P/L Appropriation A/c	20,000 1,000 14,200	15,000 750 7,100
	35,200	22,850		35,200	22,850

Balance Sheet

Liabilities	Amount	Assets	Amount
Outstanding wages Sundry Creditors Capital Accounts: Kamal Bimal	500 4,150 33,700 21,850	Furniture L/B                                               20,000 Less: Depreciation @ 10%         2,000 Sundry Debtors                          10,000 Less Provision for b/d @ 5%          500 Cash at Bank Closing Stock	16,000 18,000 9,500 8,200 8,500
	60,200		60,200

[A.H.S.E.C. – 2005]. Amal and Bimal are partners of a firm. The Trial Balance of the firm as on 31st March, 2004 was as follows:

Trial Balance

Debit	Rs.	Credit	Rs.
Plant & Machinery Goodwill Sundry Debtors Stock on 31st March 2004 Salaries Depreciation On Plant & Machinery Books and Stationary Establishment Cash in Hand Investment Drawings :          Amal         4,000          Bimal        2,000	50,000 5,000 31,000 20,000 7,000 5,000 1,000 2,000 1,000 10,000 6,000	Capital :        Amal         40,000        Bimal        30,000 Sundry Creditors Commission Sundry Receipts Outstanding Wages Interest on Investment Trading Account (Gross Profit) Bank Overdraft	70,000 10,000 3,000 200 600 200 50,000 4,000
	1,38,000		1,38,000

Additional Information:

1. Write off Rs. 1000 as Bad Debt and provide a 5% Reserve on remaining Debtors for Doubtful Debts.
2. Commission received in advance Rs. 500.
3. Transfer 10% of Net profit to General Reserve.
4. Allow interest on Capital @ 5% p.a.

From the above Trial Balance and additional information, prepare a Profit and Loss Account and Profit and Loss Appropriation Account for the tear ended 31st March, 2004 and a Balance Sheet as on that date.

[2005]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To B/d                                                     1,000 Add: Provision for b/d (New)             1,500 To Salaries To Depreciation on P/M To Book & Stationery To Establishment To Net Profit	2,500 7,000 5,000 1,000 2,000 35,400	By Gross Profit By Commission                     3,000 Less: Advance                           500 By Sundry Receipts By Interest on Investment	50,000 2,500 200 200
	52,900		52,900

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Amal  = 40,000 x 5% Bimal = 30,000 x 5% To Transfer to Reserve (35,400 x 10%) To Share of Profit: Amal   = 14,180 Bimal  = 14,180	2,000 1,500 3,540 28,360	By Net Profit	35,400
	35,400		35,400

Partner’s Capital A/c

Particulars	Amal	Bimal	Particulars	Amal	Bimal
To Drawings To Balance c/d	4,000 52,180	2,000 43,680	By Balance b/d By Interest on Capital By P/L Appropriation A/c	40,000 2,000 14,180	30,000 1,500 14,180
	56,180	45,680		56,180	45,680

Balance Sheet

Liabilities	Amount	Assets	Amount
Sundry Creditors Advance Commission Outstanding wages Bank Overdraft Reserve Capital Accounts: Amal Bimal	10,000 500 600 4,000 3,540 52,180 43,680	Plant & Machinery Goodwill Sundry Debtors                          31,000 Less: B/d                                        1,000 30,000 Less: Provision for b/d @ 5%      1,500 Cash in hand Investment Stock	50,000 5,000 28,500 1,000 10,000 20,000
	1,14,500		1,14,500

[A.H.S.E.C. – 2006]. Shiva and Dhruba are partners in a firm. The Trial Balance of the firm as on 31st March, 2005 was as follows:

Trial Balance

Debit	Rs.	Credit	Rs.
Machinery Goodwill Patent Sundry Debtors Cash in hand Closing Stock on 31.3.05 Investments Depreciation on Machinery Establishment Carriage Outward Taxes Telephone Charge Conveyance Drawings :    Shiba              5,000    Dhruba           4,000 Salaries Bank Charges	54,000 10,000 20,000 21,000 1,000 25,000 10,000 6,000 10,000 1,000 500 3,600 800 9,000 8,000 100	Capital :    Shiba           50,000    Dhruba         40,000 Sundry Creditors Interest on Investment Sundry Receipts Bills payable Bank Overdraft Outstanding wages Trading Account (Gross profit) Discount	90,000 5,000 400 200 2,000 10,000 500 71,000 900
	1,80,000		1,80,000

Prepare a Profit and Loss Account and Profit and Loss Appropriation Account for the year ended 31st March, 2005 and also a Balance Sheet as on that date after taking into consideration the following adjustments:

1. Write of Rs. 1,000 as Bad Debt and provide a 5% Provision on Sundry Debtors for Doubtful Debts.
2. Interest on investment Accrued Rs. 600.
3. Interest on Partner’s Capital is allowed @ 5% p.a.
4. Create a General Reserve by taking Rs. 5,000 out of Profit.

[2006]

 Profit & Loss A/c

Particulars	Amount	Particulars	Amount
To B/d                                                     1,000 Add: Provision for b/d (New)             1,000 To Depreciation on Machinery To Establishment To Carriage outward To Taxes To Telephone charge To Conveyance To Salaries To Bank charges To Net Profit	2,000 6,000 10,000 1,000 500 3,600 800 8,000 100 41,100	By Gross Profit By Interest on Investment      400 Add: Accrued                              600 By Sundry Receipts By Discount	71,000 1,000 200 900
	73,100		73,100

Profit & Loss Appropriation A/c

Particulars	Amount (Dr)	Particulars	Amount (Cr)
To Interest on Capital: Shiba     = 50,000 x 5% Dhruba = 40,000 x 5% To Transfer to Reserve To Share of Profit: Shiba Dhruba	2,500 2,000 5,000 15,800 15,800	By Net Profit	41,100
	41,100		41,100

Partner’s Capital A/c

Particulars	Shiba	Dhruba	Particulars	Shiba	Dhruba
To Drawings To Balance c/d	5,000 63,300	4,000 53,800	By Balance b/d By Interest on Capital By P/L Appropriation A/c	50,000 2,500 15,800	40,000 2,000 15,800
	68,300	57,800		68,300	57,800

Balance Sheet

Liabilities	Amount	Assets	Amount
Sundry Creditors Bills Payable Bank Overdraft Outstanding wages Reserve Capital Accounts: Shiba Dhruba	5,000 2,000 10,000 500 5,000 63,300 53,800	Machinery Goodwill Patent Sundry Debtors                          21,000 Less: B/d                                        1,000 20,000 Less: Provision for b/d @ 5%      1,000 Cash in hand Investment                                  10,000 Add: Interest                                     600 Closing Stock	54,000 10,000 20,000 19,000 1,000 10,600 25,000
	1,39,600		1,39,600

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