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Weekly Test 2
ISC COMMERCE STREAM
Accountancy
Question 1
X and Y are partners sharing profits in the ratio of 2:1. The under
mentioned trial balance was extracted from their books as at 31st
March, 2015: 12 Marks

Dr. Balances Cr. Balances

in Rs. in Rs.
1. X’s Capital 3,20,000
2. Y’s Capital 2,40,000
3. X’s Drawings 40,000
4. Y’s Drawings 32,000
5. Stock (1 April , 2014) 45,200
6. Purchases and Sales 8,68,000 12,45,000

7. Debtors and Creditors 1,52,000 48,000

8. Buildings 6,00,000
9. Cash in Hand 5,900
Bank Overdraft 27,500
Salaries to staff 74700

Rent 26,400
Advertising Expenditure 5000
Travelling Expenses 31,300

18,80,500 18,80,500

You are required to prepare the Profit and Loss Account and Profit
and Loss propriation Account for the year ended 31st March, 2015 and
a Balance Sheet as that date. The following adjustments are to be
made :
(i) The value of stock on March 31, 2015 was Rs.64,000.
(ii) Charge depreciation on Buildings at 10%.
(iii) Provide for outstanding rent Rs.2,400.
(iv) Partners are entitled to interest on Capital @ 5% and X is entitled
to a salary of Rs. 48,000 p.a.

Question 2 12 Marks
On 1st April, 2012, A and B commenced business with Capitals of Rs.
6,00,000 and Rs. 2,00,000 respectively. On 31st March, 2013 the
trading profit (before taking into account the provisions of deed)
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was Rs. 2,40,000. Interest on capitals is to be allowed at 6% p.a. B

was entitled to a salary of Rs.60,000 p.a. The drawings of the
partners A and B were Rs. 60,000 and Rs. 40,000 respectively. The
interest on Drawings for A being Rs. 2,000 and B Rs. 1,000.
Assuming that A and B are equal partners, prepare the Profit & Loss
Appropriation A/c and Partner's Capital Accounts as at 31st March,
2013.

Question 3 12 Marks
X and Y were partners in a firm sharing profits in the ratio of 2
: 1. On 1st April, 2015 their fixed capitals were Rs. 6,20,000
and Rs.2,40,000 respectively. On 1st Nov, 2015 they decided that
their total capital (fixed) should be Rs. 9,00,000 in their
profit sharing ratio. Accordingly, they introduced extra capital
or withdrew excess capital. The partnership deed provided for the
following:
(i) A monthly salary of Rs. 4,000 to X.
(ii) Interest on Capital @ 9% p.a.
(iii) Interest on drawing @ 12% p.a.
The drawings of X and Y during the year were as follows

X Rs. Y Rs.
June 1, 2015 20000 28000
Nov. 30, 2015 40000 ---
Feb. 1, 2016 15000 10000

During the year ended 31.3.2016 the firm earned a net profit of Rs.
3,00,000. 20% of the profits was to be transferred to general
reserve. You are required to prepare:
(i) Profit and Loss Appropriation Account,
(ii) Capital Accounts of partners, and
(iii) Current Accounts of partners.

Question 4
12 Marks
A, B and C are partners and on 1st April., 2015, their Capital
Accounts were
Rs. 5,00,000, Rs. 3,00,000 and Rs. 1,50,000 respectively.
The Partnership deed includes the following information:
(a) C is entitled to a salary of Rs. 12,000 p.a.
(b) Partner's are to be allowed interest on Capitals @ 6% p.a. and
are to be charged interest on drawings @ 12% p.a.
(c) C is entitled to an extra benefit of 5% of profits in excess of Rs.
50,000 after providing for para (a), (b) and (c).
(d) B is entitled to 1/4th of the profits after providing for all the
amounts in para (a), (b) (c) and (d) and the balance profit will be
shared by A and C in the ratio of 7 : 3.
A has withdrawn Rs. 6,800 on 31st May, 2015 and Rs. 10,000 on 1st
Nov. 2015. B has withdrawn Rs. 2,000 at the end of each month
whereas C has withdrawn Rs. 15,000 during the year.
The net profit for the year ended 31st March, 2016 before
making above adjustments was Rs. 2,50,000.
Pass the adjustment entry.

6 Marks
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Question 5 (A)
On 1st April, 2015 the Capitals of A and B were Rs. 4,00,000
and Rs. 2,00,000 respectively. They divided profits in their
capital ratio. Profits for the year ended 31st March, 2016 were Rs.
3,00,000 which have been duly distributed among the partners, but
the following transactions were not passed through the books :-
(a) Interest on Capitals @ 12% p.a.
(b) Interest on Drawings A Rs.12,000 ; B Rs.10,000.
(c) Commission due to B Rs. 20,000 on a special transaction.
(d) A is to be paid a salary of Rs. 50,000.
You are required to pass a journal entry on 10th April, 2016 which
will not affect
the P & L A/c of the firm and at the same time will rectify the
errors.

Question 5(B)
6 Marks
Kumar and Raja were partners in a firm sharing profits in the
ratio of 7:3 Their fixed capitals were: Kumar Rs. 9,00,000 and
Raja Rs. 4,00,000. The partnership deed provided for the
following but the profit for the year was distributed without
providing for
(i) Interest on capital @ 9% per annum.
(ii) Kumar's salary Rs. 50,000 per year and Raja's salary Rs
3,000 per month.
The profit for the year ended 31.3.2016 was Rs. 2,78,000.
Prepare Profit and Loss Appropriation Account and Partner’s Capital
Account for the year ended 31st March, 2016.

Question 6 12 Marks
Alex, John and Sam are partners in a firm. Their capital
accounts on 1st April, 2011, stood at Rs. 1,00,000, Rs. 80,000 and
Rs. 60,000 respectively.
Each partner withdrew Rs. 5,000 during the financial year 2011-12.
As per the provisions of their partnership deed:
(a) John was entitled to a salary of Rs. 1,000 per month.
(b) Interest on capital was to be allowed @10% per annum.
(c) Interest on drawings was to be charged @4% per annum.
(d) Profits and losses were to be shared in the ratio of their
capitals.
The net profit of Rs. 75,000 for the year ended 31st March 2012,
was divided equally amongst the partners without providing for the
terms of the deed.
You are required to pass a Single Adjusting Journal Entry to
rectify the error. (Show the working clearly)

Economics

Question 7: Define microeconomics. Briefly explain its subject

matter. 5 Marks
Question 8: Distinguish between microeconomics and macroeconomics.
5 Marks
Question 9: Explain how macroeconomics and microeconomics are
interdependent. 5 Marks

Commerce
Question10. Expand the term SWOT. 5 Marks
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Question11. What is SWOT Analysis? What are the basic elements

SWOT Analysis? Analyze its importance? 10 Marks
Mathematics
Question13. Find the derivatives of the following functions: ( 5
Marks each.)
(i) 𝑥 4 ( 5 Sin x – 3 Cos x)

𝑥 𝑆𝑖𝑛 𝑥
(ii)
1+cos 𝑥

𝑎+𝑏𝑆𝑖𝑛 𝑥
(iii)
𝑐+𝑑𝐶𝑜𝑠 𝑥

1 𝑑𝑦
Question14. If 𝑦=𝑥+ Prove that 𝑥2 − 𝑥𝑦 + 2 = 0 5
𝑥 𝑑𝑥
Marks
Question15. Find the derivative of the following functions
from the first principles 5 Marks each.

(i) Cos (2x +3)

(i) Tan (ax +b)
(ii) √𝑆𝑖𝑛 𝑥
(iii) Cos (𝑥 2 + 1)
5
1 1 𝑑𝑦
Question 16 If y = (1 − 𝑥) , prove that 𝑥 (2 2 − 𝑦) + 𝑥 2
√𝑥 𝑑𝑥
- 3 =0
Question 17 Evaluate the following Limits (5 Marks each) 5 Marks

𝑎𝑥 −1
(i) Lt
𝑏 𝑥 −1
x→0

tan 3𝑥−𝑥
(ii) Lt
5𝑥−sin 𝑥
x→0

1−𝐶𝑜𝑠𝑥 √𝐶𝑜𝑠 2𝑥
(iii) Lt 𝑥2
x→0