KENDRIYA VIDYALAYA SANGATHAN MUMBAI REGION

Second Pre-Board Examination (2024-25)

Class–XII Accountancy (055 )

Time: 3 hrs SET A M.M.:80

General Instructions :
Read the following instructions carefully and follow them :
(i) This question paper contains 34 questions. All questions are compulsory.
(ii) This question paper is divided into two parts — Part A and Part B. Questions number 1 to
16 (Part A) and Questions number 27 to 30 (Part B) are multiple choice questions. Each
question carries 1 mark.
(iii) Questions number 17 to 20 (Part A) and Questions number 31 and 32 (Part B) are
short answer type questions. Each question carries 3 marks.
(iv) Questions number 21, 22 (Part A) and Question number 33 (Part B) are Long answer
type-I questions. Each question carries 4 marks.
(v) Questions number 23 to 26 (Part A) and Question number 34 (Part B) are Long
answer type-II questions. Each question carries 6 marks.
(vi) There is no overall choice. However, an internal choice has been provided in few
questions in each of the parts.

PART A
(ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES)
1 Pankaj and Raman were partners sharing profits in the ratio of 2:1. Manan is admitted 1
as a new partner for 1/4th share in the profit of firm. Manan acquires 3/4th of his
share from Pankaj and 1/4th of his share from Raman. The new profit sharing
ratio will be:-

(A) 2:1:1 (B) 3:1:1 (C) 23:13:12 (D) 13:23:12

OR
Atul and Bhanu were partners sharing profits in the ratio 3 : 2. They admitted
Charu as new partner for 1/5th share in the future profits of the firm which she got
equally from Atul and Bhanu. The new profit sharing ratio among Atul, Bhanu and
Charu will be :-

(A) 3:5:1 (B) 1:1:1 (C) 3:5:2 (D) 5:3:2

2 X and Y are partners. Y draws a fixed amount at the end of every quarter. Interest 1
On drawings is charged @ 15% p.a. At the end of the year interest on Y’s drawings
Amounted to ₹ 9,000. Drawings of Y were:
(A) ₹24,000 per quarter (B) ₹40,000 per quarter
(C) ₹30,000 per quarter (D) ₹80,000 per quarter
3 Creditors in Balance Sheet before dissolution were Rs.2,50,000. Half of the creditors 1
accepted furniture of Rs.1,50,000 at 10% less than the book value in full settlement of their
claims. Remaining creditors were paid availing discount of 5%. Amount that will be debited
in the Realisation Account for payment to creditors will be:
(A). Rs.1,25,000 (B) Rs.1,35,000 (C) Rs.1,28,750 (D) Rs.1,18,750
4 When the incoming partner brings in his share of premium for goodwill in cash, it is 1
adjusted by crediting to:

(A) Incoming partner’s capital A/c (B) Gaining partner’s capital A/c

(C) Sacrificing partner’s capital A/c (D) Cash A/c

5 Anhuman, Ranveer and Pulkit were partners in a firm sharing profits in the ratio of 1
2:2:1. They admitted Yash for contribute proportionate capital 1/5 th share in the
profits of the firm. He has to acquire 1/5th share in future profits. On the date of
admission, the capitals after all adjustments relating to goodwill and revaluation of
assets and liabilities were: Anhuman 62,000, Ranveer 52,000 and Pulkit 36,000. The
capital brought by Yash will be:
(A) 37.500 (B) 30,000 (C) 32.500 (D) 35,000

6 Assertion (A) : In order to compensate a partner for contributing capital to the firm in 1
excess of the profit sharing ratio, firm pays such interest on Partners’ Capital.

Reason (R) :Interest on Capital is treated as a charge against profits.

(A) Both A and R are true and R is the Correct explanation of A

(B )Both A and R are true and R is not the correct explanation of A

(C) A is true but R is false

(D) A is false but R is true
Read the following hypothetical situation and answer questions No. 7 and 8 on
the basis of the given information:
Dilip and Eknath are partners in a firm sharing profits and losses in the ratio of 3 : 1.
Their capitals were ₹ 2,80,000 and ₹ 1,20,000 respectively. As per partnership deed,
they were entitled to interest on capital @ 10% p.a.. The firm earned a profit of ₹
20,000 for the year ended 31st March, 2024.
7 Dilip’s interest on capital will be : 1
(A) ₹ 14,000 (B) ₹ 28,000 (C) ₹ 12,000 (D) ₹ 10,000
8 Eknath's share of profit/loss will be : 1
(A) ₹ 12,000 (Profit) (B) ₹ 9,0000 (Loss)
(C) ₹ 3,000 (Loss) (D) NIL
9 Excellent Ltd. Issued 10,000 shares of Rs10 each at 20% premium which was over 1
 subscribed to the extent of 5,000 share. All money to be paid on application only and

shares were allotted on pro-rata basis. The company will refund……………….

(A).Rs 60,000 (B) Rs 50,000 (C) Rs 40,000 (D) Rs 30,000

10 Dhawan Ltd. issued 50,000 shares of ₹ 10 each at a premium of ₹ 6. The amount was 1
payable as follows :
On Application ₹ 7 per share (Including Premium ₹ 1 per share)
On Allotment –– ₹ 5 per share (Including Premium ₹ 2 per share)
On First and Final call – Balance
The issue was fully subscribed. All the money was duly received except the allotment
and first and final call on 1,500 shares. These shares were forfeited. On forfeiture of
these shares, the ‘Securities Premium Account’ will be debited by :
(A) ₹ 1,500 (B) ₹ 3,000 (C) ₹ 7,500 (D) ₹10,000
11 The directors of Gopal Textile Ltd. resolved that 200 shares of ₹100 each be 1
forfeited for non-payment of the second and final call of ₹ 30 per share. Out of
these150 shares were reissued at ₹ 60 per share to Mohit. How much amount will be
transferred to Capital Reserve A/c?

(A) ₹ 3,500 (B) ₹ 4,500 (C) ₹ 6,000 (D) ₹14,000

12 There are two statements Assertion (A) and Reason (R) : 1

Assertion (A) : Court does not intervene in case of dissolution of partnership.
Reason (R) : Dissolution of partnership takes place by mutual agreement among
partners.
Choose the correct option from the following :
(A) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct
explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct
explanation of Assertion (A).
(C) Assertion (A) is correct, but Reason (R) is incorrect.
(D) Assertion (A) is incorrect, but Reason (R) is correct.
13 Money not received from shareholders on allotment or calls is : 1
(A) Debited to calls in advance account. (B) Credited to calls in advance account.
(C) Debited to calls in arrears account. (D) Credited to calls in arrears account.
OR
Those debentures where a charge is created on the assets of the company for the
purpose of payment in case of default are known as :
(A) Secured Debentures (B) Registered Debentures
(C) Specific Coupon Rate (D) Debentures Redeemable Debentures
14 Sunrise Ltd. issued 9,000, 11% Debentures of ₹ 100 each at a discount of 10% 1
redeemable at a premium. ‘Discount on issue of debentures’ and ‘Premium on
redemption of debentures’ were accounted for through ‘Loss on issue of debentures
account’. If the amount of ‘Loss on issue of debentures’ was ₹ 1,30,000, then the
amount of premium on redemption of debentures was :
(A) ₹ 60,000 (B) ₹ 90,000 (C) ₹ 1,20,000 (D) ₹ 40,000
 OR
On 1st April, 2023 Moonlight Ltd. issued 25,000, 12% Debentures of ₹ 100 each at a
premium of 10%. The total amount of interest on debentures for the year ended 31st
March, 2024 will be :
(A) ₹ 3,30,000 (B) ₹ 2,50,000 (C) ₹ 3,00,000 (D) ₹ 1,50,000
15 Rita, Gita and Nita were partners in a firm sharing profits in the ratio of 2 : 2 : 1. With 1
effect from 1st April, 2023 they decided to change their profit sharing ratio as 1 : 2 : 2.
There existed a Debit Balance of Profit and Loss Account of ₹ 50,000 in the books of
the firm on the date of change in profit sharing ratio. The partners decided to retain the
Debit Balance of Profit and Loss Account in the books. The adjustment entry will be :
JOURNAL
PARTICULARS DR Amount CR Amount
(A) Rita’s Capital A/c Dr . 10,000
To Nita’s Capital A/c 10,000
(B) Rita’s Capital A/c Dr. 5,000
To Nita’s Capital A/c 5,000
(C) Nita’s Capital A/cDr. 10,000
To Rita’s Capital A/c 10,000
(D) Nita’s Capital A/c Dr. 5,000
To Rita’s Capital A/c 5,000
OR
Amit Ajay and Ashay were partners in a firm sharing profits in the ratio of 7 : 2 : 1.
With effect from 1st April, 2023 they decided to change their profit sharing ratio to
1 : 2 : 7. There existed a Credit Balance in the Profit and Loss Account of ₹ 1,00,000
on the date of change in profit sharing ratio in the books of the firm. The partners
decided to retain the Credit Balance in Profit and Loss Account in the books. The
adjustment entry will be :
JOURNAL
PARTICULARS DR Amount CR Amount
(A) Ashay’s Capital A/c Dr . 20,000
To Amit’s Capital A/c 20,000
(B) Ashay’s Capital A/c Dr. 60,000
To Amit’s Capital A/c 60,000
(C) Amit’s Capital A/cDr. 20,000
To Ashay’s Capital A/c 20,000
(D) Amit’s Capital A/c Dr. 60,000
To Ashay’s Capital A/c 60,000
16 Ritu, Mitu and Jitu were partners in a firm sharing profits and losses in the ratio of 4 : 3 1
: 2. Jitu retired. Jitu’s share was acquired equally by Ritu and Mitu. The new profit
sharing ratio between RItu and Mitu after Jitu’s retirement was :
(A) 3 :2 (B) 5: 4 (C) 4 :3 (D) 2:1
OR
A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. C
retired and his share was acquired by A. The new profit sharing ratio between A and B
after C’s retirement will be :
(A) 3 : 2 (B) 3 : 1 (C) 1 : 1 (D) 2 : 1
17 Misha and Prisha were partners in a firm sharing profits and losses in the ratio of 3:2. 3
On 1st April, 2022, their capital accounts showed balances of ₹ 50,000 and ₹ 30,000
respectively. During the year, Misha withdrew ₹ 12,900 while Prisha withdrew ₹ 9,600.
They were allowed interest on capital @ 10% p.a. Interest on drawings of ₹ 660 was
charged on Misha’s drawing ₹ 540. Prisha had advanced a loan of ₹ 20,000 to the firm
on 1st August, 2022. The net profit for the year ended 31st March, 2023 amounted to
₹22,600.
Prepare Profit and Loss Appropriation Account for the year ended 31st March 2023
18 Rohan and Mohan were partners in a firm with a combined capital of ₹ 4,00,000. 3
The normal rate of return was 15%. The profits of the last four years were:
2020-21 - 60,000
2021-22 - 90,000
2022-23 - 80,000
2023-24 - 60,000
The closing stock for the year 2023-24 was undervalued by ₹10,000.
Calculate goodwill of the firm based on capitalization of average profit.
19 Mohit Ltd. purchased building worth₹ 3,00,000, plant and machinery worth 2,50,000, 3
furniture worth ₹ 50,000 and took over liabilities of ₹ 80,000 from Shruti Ltd. for a
purchase consideration of ₹4,40,000. The purchase consideration was paid by issuing
9% Debentures of 100 each at a premium of 10%.
Pass the necessary journal entries in books of Mohit Ltd. to record the above
transactions.
OR
On 1st April, 2023, Annex Ltd. took over assets of ₹ 14,00,000 and liabilities of
₹ 2,00,000 from Shagun Ltd. at an agreed value of ₹ 17,00,000. Annex Ltd. paid
the amount to Shagun Ltd. as follows:
(i) Issued a bank draft of ₹ 2,00,000.
(ii) Issued 8% Debentures of ₹ 100 each at a premium of 50% in satisfaction of the
balance amount of purchase consideration.
Pass the necessary journal entries in the books of Simple Ltd. to record the above
transactions.
20 Aman, Shanti and Kranti were partners in a firm with fixed capitals of ₹1,20,000, 3
₹1,00,000 and ₹80,000 respectively. As per the partnership deed, there was a
provision for allowing interest on capitals @ 10% p.a., but entries for the same had not
been made for the last two years.
The profit sharing ratio during the last two years was as follows:
 YEAR Aman Shanti Kranti
2022-23 5 3 2
2023-24 1 1 1
Pass an adjustment entry of the beginning of the third year, i.e., on 1st April, 2023.
OR
Meera, Neena and Ojas were partners in a firm sharing profits and losses in the ratio
of 5: 3:2. The partnership deed provided for charging interest on drawings @ 10% p.a.
The drawings of Meera, Neena and Ojas during the year ended 31st March, 2023
amounted to 60,000,₹50,000 and 40,000 respectively. After the final accounts had
been prepared, it was discovered that interest on drawings had not been taking into
consideration.
Pass the necessary adjustment entry
21 Jeet polymers Ltd. was registered with an authorized capital of 5,00,000 divided into 4
equity shares of ₹ 10 each. The company issued a prospectus inviting applications for
20,000 equity shares. The amount was payable as follows:
On Application -3 per share
On Allotment-5 per share
On First and Final call -Balance
Applications were received for 19,000 equity shares and allotment was made to all the
applicants. All the amounts were duly received except the first and final call on 5.000
shares.
Present the share capital in the Company's Balance Sheet as per Schedule III, Part I
of Companies Act, 2013. Also prepare "Notes to Accounts for the same.
22 Pass the necessary journal entries in the following cases on the dissolution of a 4
partnership firm of partners X, Y, A and B:
(i) Realization expenses of ₹5,000 were to be borne by X, a partner. However, it was
paid by Y.
(ii) Investments costing ₹25,000 (comprising 1,000 shares), had been written off from
the books completely. These shares are valued at ₹20 each and were divided
amongst the partners.
(iii) Y's loan of ₹50,000 settled at ₹48,000.
(iv) Profit and loss account showed a debit balance of ₹40,000.
23 Mani, Nani and Akki were partners in a firm sharing profits and losses equally their 6
balance sheet as on 31st March 2023 was as follows
Liabilities Amount Assets Amount
Rs. Rs.

Sundry Creditors 40,000 Cash in hand 70,000

General Reserve 60,000 Cash at Bank 80,000
Capital : Debtors 90,000
Mani 1,40,000 Stock 60,000
Nani 1,40,000 Plant & Machinery 1,20,000
Akki 1,40,000 4,20,000 Building 1,00,000
5,20,000 5,20,000
Nani died on 12 June 2023. according to the partnership deed, the executors of the
deceased partner and are entitled to
 i) balance of partners, capital account
ii) Interest on capital at the rate of 5% per annum
iii) Share of goodwill calculated on the basis of twice the average of past three years
profits and
iv) Share of profits from the closure of the last accounting year till the date of death on
the basis of twice the average of three completed years profit before death profits for
the year ended 31st March 2021, 2022 and 2023, where ₹1,60,000 ₹1,80,000 and
₹2,00,000 respectively. The working for deceased partner share of goodwill and profit
till the date of death. Prepare deceased Partner’s capital Account to be rendered to his
executors
24 Akshit fashion Ltd, issued a prospectus inviting applications for 60,000 shares of ₹10 6
each at a premium of 30% payable as follows: On Application 3.50; On Allotment
5.50 (including premium): On First Call ₹ 2 and on Second Call ₹ 2. Applications were
received for 95,000 shares and allotment was made pro-rata to applicants of 80,000
shares. Money over-paid on applications was employed on account of sums due on
allotment.
Kumar to whom 1,500 shares were allotted failed to pay the allotment money and on
his subsequent failure to pay the First Call his shares were forfeited. Megha, the
holder of 2,400 shares failed to pay the two calls and her shares were forfeited after
the Second Call. Of the shares forfeited, 3,000 shares were re-issued to Ravi as fully
paid, Ravi paying ₹8.50 per share, the whole of Megha's share being included.
On the basis of the above information, you are required to answer the following
questions:
(i) Amount received on allotment in Cash will be:
(a) ₹2,51,750 (b) ₹3,21,750 (c) ₹3,23,500 (d) ₹2,53,500
(ii) In the entry of forfeiture of Kumar's shares, the amount Credited to Share Forfeiture
A/c will be:
(a) ₹ 2,500 (b) ₹7,000 (c) ₹10,000 (d) ₹5,500
(iii) In the entry of forfeiture of Megha's shares, the amount Credited to Share
Forfeiture A/c will be :
(a) ₹18,900 (b) ₹ 9,600 (c) ₹14,100 (d) ₹14,400
(iv) After the reissue of forfeited shares, amount transferred to Capital Reserve will be
(a) ₹12,700 (b) ₹17,200 (c) ₹11,500 (d) ₹16,900
(v) After the reissue of forfeited shares, balance in Share Forfeiture Account will be :
(a) ₹8,700 (b) ₹4,200 (c) ₹16,900 (d) ₹17,200
(vi) What will be the amount in the "Subscribed and Fully paid" after the reissue of
these 3000 shares?
(a) ₹5,95,200 (b) ₹6,00,000 (c) ₹5,94,150 (d) ₹8,00,000
25 Trust Ltd. issued a prospectus inviting applications for 1,60,000 shares of 10 each. 6
The amount was payable as follows:
On Application -3 per share
On Allotment-2 per share
On First and Final call-Balance
Applications for 3,00,000 shares were received Applications for 20,000 shares were
rejected and pro rata allotment was made to the remaining applicants as follows:
 Category (i) Applicants for 1,60,000 shares were allotted 80,000 shares.
Category (ii) Applicants for 1,20,000 shares were allotted 80,000 shares.
It was decided that excess money received on application be adjusted towards sum
due on allotment and first and final call. All the amounts due on allotment and first and
final call were duly received.
Pass necessary journal entries to record the above transactions in the books of Trust
Ltd.
OR
Perfect Ltd. issued a prospectus inviting applications for 40,000 shares of 10 each at a
premium of 20%. The amount was payable as follows:
On Application-5 per share
On Allotment-5 per share (Including Premium)
On First and Final call-Balance
To Applications for 60,000 shares were received and allotment was made on a pro-
rata basis to all the applicants. Excess money received on application was adjusted
towards the amount due on allotment.
Sameer who had applied for 1,200 shares failed to pay the allotment money. His
shares were forfeited immediately after allotment. All the forfeited shares were
reissued at ₹7 per share as ₹8 paid up. First and final call was not yet made.
Pass necessary journal entries to record the above transactions in the book of Pearl
Ltd. Open Calls in Arrears Account' wherever necessary.
26 Anshu and Vihu were partners in a firm sharing profits and losses in the ratio of 3: 2. 6
Their Balance Sheet as at 31st March, 2024 was as follows
Balance Sheet of Anshu and Vihu as at 31st March, 2024
Liabilities Amount Assets Amount

Capitals: Cash 40,000

Anshu 1,44,000 Debtors 36000
Vihu 80,000 2,24,000 Less Provision for
General Reserve 50,000 doubtful debts 2000 34000
Creditors 80,000 Stock 30000
Investment Fluctuation 10,000 Investment 40000
Plant and Machinery 220000
3,64,000 3,64,000
th
On 1st April, 2024, Mani was admitted into partnership for 1/5 profits of the firm on
the following terms:
(i) Mani brought ₹ 20,000 as her share of goodwill and proportionate capital.
(ii) Provision for doubtful debts was to be maintained at 10% on debtors.
(iii) Market value of investments was ₹ 35.000.
(iv) The value of Plant and Machinery be increased by ₹ 6,600.
Prepare Revaluation Account and Partners' Capital Accounts.
OR
Trisha, Urvi and Varsha were partners in a firm sharing profits and losses in the ratio
of 5: 4: Their Balance Sheet as at 31st March, 2024 was as follows:
 Balance Sheet of Trisha, Urvi and Varsha as at 31st March, 2024
Liabilities Amount Assets Amount

Capitals: Fixed Assets 4,00,000

Trisha 2,00,000 Stock 1,00,000
Urvi 1,30,000 Debtors 1,50,000
Varsha 1,00,000 4,30,000 Cash at Bank 2,00,000
General Reserve 1,50,000
Creditors 2,70,000
8,50,000 8,50,000
Trisha retired on 1st April, 2024 and the partners agreed to the following terms:
(i) Fixed Assets were found overvalued by ₹ 80,000.
(ii) Stock was taken over by Trisha at ₹ 80,000.
(iii) Goodwill of the firm was valued at ₹ 1,00,000 on Trisha's retirement and Trisha's
share by goodwill was adjusted through the Capital Accounts of remaining partners.
(iv) New profit sharing ratio between the remaining partners was agreed at 2:3.
(v) Trisha was paid ₹ 50,000 on retirement and the balance was transferred to her
loan account.
Pass necessary journal entries in the books of the firm on Trisha's retirement
PART –B (FINANCIAL STATEMENT ANALYSIS)
27 Which of the following transactions will result in cash outflow from operating activities? 1
(A) Payment to creditors
(B) Proceeds from sale of investments
(C) Dividend received by a non-finance company
(D) Depreciation charged on furniture
28 The Quick Ratio of a company is 1: 1. Which of the following transactions will result in 1
increase of this ratio?
(A) Purchase of inventory ₹1,50,000 through cheque
(B) Sold inventory on credit ₹ 50,000
(C) Outstanding expenses of ₹ 40,000 paid
(D) Machinery purchased for cash ₹ 50,000
29 Which of the following is not a limitation of Analysis of Financial Statements'? 1
(A) It is just a study of the reports of the company.
(B) It does not consider price level changes.
(C) It ascertains the relative importance of different components of the financial
position of the firm.
(D) It may be misleading without the knowledge of t changes in accounting procedures
followed by a firm.
OR
Ratios that are calculated for measuring the efficiency of operations of business based
on effective utilization of resources are known as:
(A) Liquidity ratios (B) Turnover ratios (C) Solvency ratios (D) Profitability ratios
30 Sale of patents of ₹50,00,000 will result in: 1
(A) Cash inflow of ₹ 50,00,000 from financing activities
(B) Cash outflow of ₹ 50,00,000 from financing activities
 (C) Cash outflow of ₹ 50,00,000 from investing activities
(D) Cash inflow of ₹ 50,00,000 from investing activities
OR
Income tax paid is classified under:
(A) Operating activities (B) Investing activities
(C) Financing activities D) Cash and cash equivalents
31 Classify the following items under major heads and sub-heads (if any) in the Balance 3
Sheet of the company as per Schedule III, Part I of the Companies Act, 2013:
(a) Bank Balance (b) Public Deposits
(d) Bank Overdraft (d) Share forfeited account
(e) Patent and trademarks (f) Securities Premium account
32 From the following information, calculate Inventory Turnover Ratio : 3
Amount
Revenue from Operations 80,00,000
Gross Profit Ratio 25%
Opening Inventory 10,00,000
Closing Inventory is 2 times more than the Opening Inventory.
33 From the given Balance Sheet of Moonlight Ltd., prepare a Common Size Balance 4
Sheet:
Balance Sheet of Moonlight Ltd. as at 31st March, 2024
Particulars Note to 31/03/2024 31/03/2023
Account
I – Equity and Liabilities
1. Share holders’ funds
(a) Share Capital 12,00,000 5,00,000
2. Non-Current Liabilities
(a) Long term borrowings 2,00,000 3,00,000
3. Current Liabilities
(a) Trade payables 6,00,000 2,00,000
TOTAL 20,00,000 10,00,000
II – Assets ,
1. Non Current Assets
Fixed assets/Property, Pl & Mach 14,00,000 7,00,000
2. Current Assets
(a) Trade Receivable 4,00,000 2,50,000
(b) Inventories 2,00,000 50,000
TOTAL 20,00,000 10,00,000
OR
From the following particulars of Accent Ltd., prepare a Comparative Statement of
Profit and Loss for the year ended 31st March, 2024 ::
Particulars Note No. 2023-24 2022-23

Revenue from operations 25,00,000 20,00,000

Employee benefit expenses 5,00,000 4,00,000
Other expenses 2,50,000 2,00,000
 Tax rate 50%

34 From the following particulars of Ruparel Ltd., Calculate 'Cash Flow from Investing 6
Activities'. Show your working clearly.
Particulars 31-03-24 31-03-2023
Goodwill 3,00,000 1,00,000
Patents 1,60,000 2,80,000
Machinery 12,40,000 10,20,000
10% Investments 1,60,000 60,000
Additional Information:
i) Patents of ₹ 1,20,000 were sold at book value.
ii) Depreciation charged during the year on machinery was ₹1,40,000.A machine
having a book value of 80,000 was sold for 50,000.
iii) On 31.03.2024, 10% investments were purchased for ₹ 1,80,000 and some
investments were sold at a profit of ₹ 20,000. Interest received on investments was
6,000.