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CBSE Class XII 2014 : ACCOUNTANCY

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H$moS> Z . Series OSR/2 Code No. amob Z . 67/2/1 narjmWu H$moS >H$mo C ma-nwp VH$m Ho$ _wI-n >na Ad ` {bIo & Roll No. Candidates must write the Code on the title page of the answer-book. H $n`m Om M H$a b| {H$ Bg Z-n _o _w{ V n > 24 h & Z-n _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Z ~a H$mo N>m C ma -nwp VH$m Ho$ _wI-n > na {bI| & H $n`m Om M H$a b| {H$ Bg Z-n _| 25 Z h & H $n`m Z H$m C ma {bIZm ew $ H$aZo go nhbo, Z H$m H $_m H$ Ad ` {bI| & Bg Z-n H$mo n T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h & Z-n H$m {dVaU nydm _| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>m Ho$db Z-n H$mo n T>|Jo Am a Bg Ad{Y Ho$ Xm amZ do C ma-nwp VH$m na H$moB C ma Zht {bI|Jo & Please check that this question paper contains 24 printed pages. Code number given on the right hand side of the question paper should be written on the title page of the answer-book by the candidate. Please check that this question paper contains 25 questions. Please write down the Serial Number of the question before attempting it. 15 minutes time has been allotted to read this question paper. The question paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the question paper only and will not write any answer on the answer-book during this period. boImem ACCOUNTANCY {ZYm [aV g_` : 3 K Q>o A{YH$V_ A H$ : 80 Time allowed : 3 hours 67/2/1 Maximum Marks : 80 1 P.T.O. gm_m ` {ZX}e : (i) `h Z-n VrZ ^mJm| _| {d^ $ h H$, I Am a J & (ii) ^mJ H$ g^r N>m m| Ho$ {bE A{Zdm` h & (iii) narjm{W `m| H$mo eof ^mJ I Am a J _| go H$moB EH$ ^mJ hb H$aZm h & (iv) {H$gr Z Ho$ g^r ^mJm| Ho$ C ma EH$ hr WmZ na {b{IE & General Instructions : (i) This question paper contains three parts A, B and C. (ii) Part A is compulsory for all candidates. (iii) Candidates can attempt only one part of the remaining parts B and C. (iv) All parts of the questions should be attempted at one place. ^mJ H$ (gmPoXmar \$_m] VWm H$ n{Z`m| Ho$ {bE boIm H$Z) PART A (Accounting for Partnership Firms and Companies) 1. E g, dmB VWm O S> gmPoXma h VWm 1 3 , 2 10 Ed 1 5 Ho$ AZwnmV _| bm^m| H$m ~ Q>dmam H$a aho h & O~ dmB \$_ go godm{Zd m hmoVm h , Vmo eof gmPoXmam| Ho$ A{Ybm^ AZwnmV H$s 1 JUZm H$s{OE & 1 1 3 and . , 2 10 5 Calculate the gaining ratio of remaining partners when Y retires from the firm. X, Y and Z are partners sharing profits in the ratio of 2. n[ag n{ m`m| VWm Xo`VmAm| Ho$ {ZnQ>mao Ho$ AmYma na gmPoXmar Ho$ g_mnZ VWm gmPoXmar \$_ Ho$ g_mnZ _| A V^}X H$s{OE & Distinguish between dissolution of partnership and partnership firm on the basis of Settlement of assets and liabilities . 67/2/1 2 1 3. {H$gr gmPoXma H$s godm{Zd { m `m _ `w Ho$ g_` \$_ H$mo AnZr n[ag n{ m`m| H$m _y `m H$Z Am a AnZr Xo`VmAm| H$m nwZ {ZYm aU H$aZo H$s Amd `H$Vm `m| hmoVr h ? 1 Why does a firm revaluate its assets and reassess its liabilities on retirement or death of a partner ? 4. dgybr ImVm `m| V `ma {H$`m OmVm h ? 1 Why is Realisation Account prepared ? 5. EH$ H$ nZr {H$gr A eYmaH$ Ho$ A em| H$m haU H$~ H$a gH$Vr h ? 1 When can a company forfeit the shares held by a shareholder ? 6. A e ny Or H$m AW Xr{OE & 1 Give the meaning of Share Capital . 7. G$Un m| H$m g_nmp d H$ {V^y{V Ho$ $n _| {ZJ _Z H$m `m AW h ? 1 What is meant by issue of debentures as collateral security ? 8. ^wdZ VWm {ed_ EH$ \$_ _| gmPoXma Wo VWm Wo & CZH$s ny Or H $_e 50,000 < Am a 3:2 Ho$ AZwnmV _| bm^m| H$m ~ Q>dmam H$a aho 75,000 < Wr & 1 A b, 2013 H$mo C hm|Zo ^mdr bm^m| _| 1/4 ^mJ Ho$ {bE AVwb H$mo EH$ ZE gmPoXma Ho$ $n _| doe {X`m & AVwb AnZr ny Or Ho$ $n _| 75,000 < bm`m & \$_ H$s `m{V H$m _y `m H$Z H$s{OE VWm AVwb 3 Ho$ doe na Cn`w $ boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & Bhuwan and Shivam were partners in a firm sharing profits in the ratio of 3 : 2. Their capitals were < 50,000 and < 75,000 respectively. They admitted Atul on 1st April, 2013 as a new partner for 1/4th share in the future profits. Atul brought < 75,000 as his capital. Calculate the value of goodwill of the firm and record necessary journal entries for the above transactions on Atul s admission. 67/2/1 3 P.T.O. 9. {deof {b{_Q>oS> Zo 1 A b, 2012 H$mo 100 < `oH$ Ho$ 10,000, 10% G$Un m| H$m {ZJ _Z {H$`m & {ZJ _Z na nyU $n go A{^XmZ h Am & {ZJ _Z H$s eVm] Ho$ AZwgma, G$Un m| na `mO AY dm{f H$ AmYma na 30 {gV ~a VWm 31 _mM H$mo Xo` hmoVm h VWm moV na H$a H$s H$Q>m Vr 10% h & 31 _mM , 2013 H$mo g_m hmoZo dmbr AY dm{f H$s Ho$ {bE G$Un `mO go g ~p YV VWm G$Un m| na dm{f H$ `mO H$mo bm^-hm{Z {ddaU _| WmZm V[aV H$aZo H$r Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & 3 Vishesh Ltd. issued 10,000, 10% Debentures of < 100 each on 1st April, 2012. The issue was fully subscribed. According to the terms of issue, interest on debentures is payable half-yearly on 30th September and 31st March and tax deducted at source is 10%. Pass the necessary journal entries related to the debenture interest for the half-yearly ending on 31st March, 2013 and transfer of interest on debentures for the year to Statement of Profit and Loss. 10. {Z Z{b{IV n[ap W{V`m| _| Amd `H$ amo OZm_Mm {d{ >`m H$s{OE : (i) {H$_ B {S>`m {b{_Q>oS> Zo 100 < `oH$ Ho$ 1,000, 9% G$Un m| {OZH$m {ZJ _Z 10% Ho$ ~ >o na {H$`m J`m Wm, H$mo 100 < `oH$ Ho$ g_Vm A em| _| n[ad{V V H$aHo$ {H$`m & g_Vm A em| H$mo 25% Ho$ r{_`_ na {ZJ {_V {H$`m J`m Wm & (ii) gmoZmbr {b{_Q>oS> Zo 100 < `oH$ Ho$ 6,000, 12% G$Un m| {OZH$m {ZJ _Z 10 < {V G$Un Ho$ ~ >o na {H$`m J`m Wm, H$m emoYZ B h| 100 < `oH$ Ho$ g_Vm A em| Omo 90 < {V A e X m Wo, _| n[ad{V V H$aHo$ {H$`m & Pass necessary journal entries in the following cases : (i) Kim India Ltd. converted 1,000, 9% debentures of < 100 each issued at a discount of 10% into equity shares of < 100 each issued at a premium of 25%. (ii) Sonali Ltd. redeemed 6,000, 12% debentures of < 100 each which were issued at a discount of < 10 per debenture by converting them into equity shares of < 100 each, < 90 paid up. 67/2/1 4 3 11. H$a_ qgh Ed gwbo_mZ Zo a r H$mJ O go H$_ H$s_V dmbo H$mJ O Ho$ ~ J ~ZmZo Ho$ {bE EH$ gmPoXmar \$_ ew $ H$aZo H$m {ZU ` {b`m `m|{H$ bmp Q>H$ ~ J {d{^ H$ma H$s n`m daU g ~ Yr g_ `mE C n H$a aho Wo & BgHo$ {bE, C hm|Zo 1 A b, 2012 H$mo H $_e 2,00,000 < VWm 1,00,000 < H$s ny Or bJmB & gwbo_mZ Zo B OrV H$mo {~Zm ny Or Ho$ gmPoXma Ho$ $n _| \$_ _| doe H$s AnZr B N>m ` $ H$s & B OrV CgH$m {deof $n go `mo ` bo{H$Z A `{YH$ g OZm _H$ Ed ~w{ _mZ {_ h & H$a_ qgh Zo Bgo drH$ma H$a {b`m & gmPoXmar H$s eV] {Z Z{b{IV Wt : (i) H$a_ qgh, gwb_ o mZ Ed B OrV 2 : 2 : 1 Ho$ AZwnmV _| bm^m| H$m ~ Q>dmam H$a|Jo & (ii) ny Or na 6% dm{f H$ Xa go `mO {X`m OmEJm & ny Or H$s H$_r Ho$ H$maU, H$a_ qgh Zo 30 {gV ~a, 2012 H$mo 50,000 < VWm gwbo_mZ Zo 1 OZdar, 2013 H$mo 20,000 < H$s A{V[a $ ny Or bJmB & 31 _mM , 2013 H$mo g_m hmoZo dmbo df Ho$ {bE \$_ H$m bm^ 2,00,300 < Wm & (A) Eogo H$moB Xmo _y ` nhMm{ZE Omo \$_ g_mO H$mo g o{fV H$aZm MmhVr h & (~) 31 _mM , 2013 H$mo g_m hmoZo dmbo df Ho$ {bE \$_ H$m bm^-hm{Z {d{Z`moOZ ImVm V `ma H$s{OE & 4 Karam Singh and Suleman decided to start a partnership firm to manufacture low cost paper bags from the waste paper as plastic bags were creating many environmental problems. For this, they contributed capitals of < 2,00,000 and < 1,00,000 respectively on 1st April, 2012. Suleman also expressed his willingness to admit Inderjeet as a partner without capital in the firm. Inderjeet is specially abled but a very creative and intelligent friend of his. Karam Singh agreed to this. The terms of partnership were as follows : (i) Karam Singh, Suleman and Inderjeet will share profits in the ratio of 2 : 2 : 1. (ii) Interest on capital will be provided @ 6% p.a. Due to shortage of capital, Karam Singh contributed < 50,000 on 30th September, 2012 and Suleman contributed < 20,000 on 1st January, 2013 as additional capital. The profit of the firm for the year ended 31st March, 2013 was < 2,00,300. (a) Identify any two values which the firm wants to communicate to the society. (b) Prepare Profit and Loss Appropriation Account of the firm for the year ending 31st March, 2013. 67/2/1 5 P.T.O. 12. _{ZH$m, {Z >m VWm gmjr EH$ \$_ _| gmPoXma Wt VWm H $_e 2 : 2 : 1 Ho$ AZwnmV _| bm^m| H$m {d^mOZ H$aVr Wt & 31 _mM , 2013 H$mo CZH$m p W{V-{ddaU {Z Z{b{IV Wm : 31 _mM , 2013 H$mo p W{V {ddaU am{e Xo`VmE < ny Or : n[ag n{ m`m am{e < Wm`r n[ag n{ m`m 3,60,000 _{ZH$m 2,80,000 XoZXma 2,80,000 {Z >m 3,00,000 Q>m H$ 1,30,000 gmjr 1,00,000 amoH$ S> 4,60,000 6,80,000 g M`-H$mof 3,00,000 boZXma 2,50,000 12,30,000 12,30,000 1 OwbmB , 2013 H$mo gmjr H$s _ `w hmo JB & eof gmPoXmam| Am a CgHo$ C mam{YH$mar Ho$ ~rM `h gh_{V h B {H$ : (A) \$_ H$s `m{V H$m _y `m H$Z {nN>bo VrZ dfm] Ho$ Am gV bm^ Ho$ 3 dfm] Ho$ H $` Ho$ ~am~a hmoJm & Am gV bm^ 5,00,000 < Wm & (~) ny Or na 12% dm{f H$ Xa go `mO {X`m OmEJm & (g) _ `w H$s {V{W VH$ bm^m| _| CgHo$ {h go H$s JUZm {nN>bo VrZ dfm] Ho$ Am gV bm^ Ho$ AmYma na H$s OmEJr & 1 OwbmB , 2013 H$mo 67/2/1 gmjr H$m ny Or ImVm V `ma H$s{OE & 6 4 Manika, Nishtha and Sakshi were partners in a firm sharing profits in the ratio of 2 : 2 : 1 respectively. On 31st March, 2013 their Balance Sheet was as under : Balance Sheet as on 31st March, 2013 Amount Liabilities < Capitals : Assets Amount < Fixed Assets 3,60,000 Manika 2,80,000 Debtors 2,80,000 Nishtha 3,00,000 Stock 1,30,000 Sakshi 1,00,000 6,80,000 Cash 4,60,000 Reserve Fund 3,00,000 Creditors 2,50,000 12,30,000 12,30,000 Sakshi died on 1st July, 2013. It was agreed between her executors and the remaining partners that : (a) Goodwill of the firm be valued at 3 years purchase of average profits for the last three years. The average profits were < 5,00,000. (b) Interest on capital be provided at 12% p.a. (c) Her share in the profits upto the date of death will be calculated on the basis of average profits for the last three years. Prepare Sakshi s Capital Account as on 1st July, 2013. 67/2/1 7 P.T.O. 13. 1 A b, 2012 H$mo I Zm {b{_Q>oS> H$m {Z_m U 20,00,000 < H$s A{YH $V ny Or Omo 10 < `oH$ Ho$ 2,00,000 1,80,000 g_Vm A em| Ho$ {bE {ddaU {ZJ {_V H$a mW Zm n Am_ { V {H$E & H$ nZr H$mo 1,70,000 g_Vm A em| _| {d^m{OV Wr Ho$ gmW {H$`m J`m & H$ nZr Zo g_Vm A em| Ho$ {bE AmdoXZ m h E & W_ df _| H$ nZr Zo A e H$s `mMZm H$s & {eIm Zo Omo 2,000 A em| H$s YmaH$ Wr VWm nyZ_ Zo Omo 8 < {V 4,000 A em| H$s YmaH$ Wr, 2 < {V A e H$s W_ `mMZm am{e H$m ^wJVmZ Zht {H$`m & W_ `mMZm Ho$ ~mX nyZ_ Ho$ A em| H$m haU H$a {b`m J`m VWm ~mX _| haU {H$E JE 6< A em| H$mo {V A e, 8 < `m{MV na nwZ {ZJ {_V H$a {X`m J`m & {Z Z{b{IV Xem BE : (A) H$ nZr A{Y{Z`_, 1956 H$s n[aemo{YV gmaUr p W{V {ddaU _| A e ny Or & (~) 3,000 VI ^mJ I Ho$ AZwgma H$ nZr Ho$ Cgr Ho$ {bE ImVm| Ho$ ZmoQ> g ^r ~ZmBE & On 1st April, 2012, Khanna Ltd. was formed with an authorised capital of < 20,00,000 divided into 2,00,000 equity shares of < 10 each. The company issued prospectus inviting applications for 1,80,000 equity shares. The company received applications for 1,70,000 equity shares. During the first year, < 8 per share were called. Shikha holding 2,000 shares and Poonam holding 4,000 shares did not pay the first call of < 2 per share. Poonam s shares were forfeited after the first call and later on 3,000 of the forfeited shares were re-issued at < 6 per share, < 8 called up. Show the following : (a) Share Capital in the Balance Sheet of the company as per revised Schedule VI Part I of the Companies Act, 1956. (b) 67/2/1 Also prepare Notes to Accounts . 8 4 14. godH$ {b{_Q>oS> H$s nw VH$m| _| {Z Z{b{IV boZXoZm| Ho$ {bE Amd `H$ amo OZm_Mm {d{ >`m H$s{OE : (i) godH$ {b{_Q>oS> Zo JwS>{db {b{_Q>oS> H$s 3,00,000 < 4 H$s Xo`VmAm| H$m {H$`m & JwS>{db {b{_Q>oS> H$mo 5,00,000 < 1,35,000 < 10 < H$s n[ag n{ m`m| VWm Ho$ H $` {V\$b Ho$ {bE A{YJ hU `oH$ Ho$ g_Vm A em| H$mo 10% Ho$ ~ >o na {ZJ {_V H$aHo$ ^wJVmZ {H$`m J`m & (ii) am_ Wm {b{_Q>oS> go Ho$ g_Vm A em| H$mo 5,00,000 < 25% Ho$ H$m \$ZuMa H $` {H$`m & ^wJVmZ 10 < `oH$ r{_`_ na {ZJ {_V H$aHo$ {H$`m J`m & Pass necessary journal entries for the following transactions in the books of Sewak Ltd. : (i) Sewak Ltd. acquired assets of < 5,00,000 and liabilities of < 3,00,000 of Goodwill Ltd. for a purchase consideration of < 1,35,000. Payment to Goodwill Ltd. was made by issuing equity shares of 10 each at a discount of 10%. (ii) Purchased furniture of < 5,00,000 from Ramprastha Ltd. The payment to Ramprastha Ltd. was made by issuing equity shares of < 10 each at a premium of 25%. 67/2/1 9 P.T.O. 15. A{Zb, {dZrV VWm {dnwb EH$ \$_ _| gmPoXma Wo Omo Im nXmWm] H$m C nmXZ H$aVr h & do 5 : 3 : 2 Ho$ AZwnmV _| bm^m| H$m ~ Q>dmam H$aVo Wo & 1 A b, 2012 H$mo CZH$s ny Or H $_e 4,00,000 <, 5,00,000 < VWm 9,00,000 < Wr & C mam Mb _| ~m T> AmZo Ho$ ~mX, g^r gmPoXmam| Zo `{ $JV $n go ~m T> nr{ S>Vm| H$s ghm`Vm H$aZo H$m {ZU ` {b`m & BgHo$ {bE A{Zb Zo 30 {gV ~a, 2012 H$mo \$_ go 30,000 < H$m AmhaU {H$`m & {dZrV Zo \$_ go amoH$ S> H$m AmhaU H$aZo H$s Anojm 25,000 < Ho$ Im nXmW {bE Am a ~m T> nr{ S>Vm| _| C h| ~m Q> {X`m & X gar Amoa, {dnwb Zo 1 OZdar, 2013 H$mo AnZr ny Or go 2,50,000 < H$m AmhaU {H$`m Am a ~m T> nr{ S>Vm| H$s ghm`Vm Ho$ {bE EH$ Aml`-J h ~Zm`m & gmPoXmar g boI Ho$ AZwgma AmhaU na {V df 6% H$s Xa go `mO {b`m OmEJm & A {V_ ImVo V `ma H$aZo Ho$ ~mX `h nm`m J`m {H$ AmhaU na `mO Zht {b`m J`m & Amd `H$ g_m`moOZ {d{ > H$s{OE VWm H$m` -{Q> nUr H$mo n > $n go Xem BE & Eogo {H$ ht Xmo _y `m| H$m ^r C oI H$s{OE Omo `o gmPoXma g_mO H$mo g o{fV H$aZm MmhVo h & Anil, Vineet and Vipul were partners in a firm manufacturing food items. They were sharing profits in the ratio of 5 : 3 : 2. Their capitals on 1st April, 2012 were < 4,00,000, < 5,00,000 and < 9,00,000 respectively. After the floods in Uttaranchal, all partners decided to help the flood victims personally. For this Anil withdrew < 30,000 from the firm on 30th September, 2012. Vineet instead of withdrawing cash from the firm took some food items amounting to < 25,000 from the firm and distributed those to flood victims. On the other hand, Vipul withdrew < 2,50,000 from his capital on 1st January, 2013 and built a shelter-home to help flood victims. The partnership deed provides for charging interest on drawings @ 6% p.a. After the final accounts were prepared it was discovered that interest on drawings had not been charged. Give the necessary adjusting entry and show the working notes clearly. Also state any two values that the partners wanted to communicate to the society. 67/2/1 10 6 16. a_oe VWm C_oe EH$ \$_ _| gmPoXma Wo VWm AnZr ny Or Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 31 _mM , 2013 H$mo CZH$m p W{V {ddaU {Z Z H$ma Wm : 31 _mM , 2013 H$mo a_oe VWm C_oe H$m p W{V {ddaU am{e Xo`VmE n[ag n{ m`m < am{e < boZXma 1,70,000 ~ H$ 1,10,000 H$_ Mmar j{Vny{V {Z{Y 2,10,000 XoZXma 2,40,000 gm_m ` g M` 2,00,000 ah{V`m ( Q>m H$) 1,30,000 \$ZuMa 2,00,000 _erZar 9,30,000 a_oe$ H$m Mmby ImVm 80,000 ny Or : a_oe 7,00,000 C_oe 3,00,000 C_oe H$m Mmby ImVm 50,000 10,00,000 16,60,000 16,60,000 Cn`w $ {V{W H$mo \$_ H$m g_mnZ hmo J`m & (i) (ii) (iii) (iv) Q>m H$ nw VH$ _y ` go 10,000 < H$_ na bo {b`m & eof Q>m H$ H$mo 15,000 < H$s hm{Z na ~oM {X`m J`m & XoZXmam| go 5% H$s Ny>Q> na dgybr H$s JB & C_oe Zo \$ZuMa H$mo 50,000 < _| bo {b`m VWm _erZar H$mo 4,50,000 < _| ~oM {X`m J`m & boZXmam| H$mo nyU ^wJVmZ {H$`m J`m & 1,60,000 < H$m EH$ A{b{IV _a _V H$m {~b Wm {OgH$m {ZnQ>mam 1,40,000 < _| {H$`m J`m & a_oe Zo 50% 6 dgybr ImVm V `ma H$s{OE & 67/2/1 11 P.T.O. Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2013 their Balance Sheet was as follows : Balance Sheet of Ramesh and Umesh as on 31st March, 2013 Amount Liabilities < Assets Amount < Creditors 1,70,000 Bank 1,10,000 Workmen s Compensation Fund 2,10,000 Debtors 2,40,000 General Reserve 2,00,000 Stock 1,30,000 Ramesh s Current Account 80,000 Furniture Capitals : Machinery Ramesh Umesh 3,00,000 Umesh s Current Account 7,00,000 2,00,000 9,30,000 50,000 10,00,000 16,60,000 16,60,000 On the above date the firm was dissolved. (i) Ramesh took over 50% of stock at < 10,000 less than book value. The remaining stock was sold at a loss of < 15,000. Debtors were realised at a discount of 5%. (ii) Furniture was taken over by Umesh for < 50,000 and machinery was sold for < 4,50,000. (iii) Creditors were paid in full. (iv) There was an unrecorded bill for repairs for < 1,60,000 which was settled at < 1,40,000. Prepare Realisation Account. 67/2/1 12 17. H$ nZm VWm H${ZH$m EH$ \$_ _| gmPoXma Wt VWm 3 : 2 Ho$ AZwnmV _| bm^ ~m Q>Vr Wt & 1 A b, 2013 H$mo C hm|Zo H$ Um H$mo \$_ Ho$ bm^m| _| 1/5 ^mJ Ho$ {bE EH$ ZE gmPoXma Ho$ $n _| doe {X`m & 1 A b, 2013 H$mo H$ nZm VWm H${ZH$m H$m p W{V {ddaU {Z ZmZwgma Wm : 1 A b, 2013 H$mo H$ nZm VWm H${ZH$m H$m p W{V {ddaU am{e Xo`VmE < ny Or : < ^y{_ VWm ^dZ H$ nZm H${ZH$m 2,10,000 gm_m ` g M` H$_ Mmar j{Vny{V {Z{Y 6,90,000 60,000 1,00,000 2,10,000 g ` 4,80,000 boZXma am{e n[ag n{ m`m 2,70,000 Q>m H$ 2,10,000 XoZXma KQ>m mdYmZ 1,32,000 12,000 amoH$ S> 1,20,000 1,30,000 90,000 9,40,000 9,40,000 `h {ZU ` {b`m J`m {H$ (i) ^y{_ VWm ^dZ H$m _y ` 20% ~ T>m`m OmEJm & (ii) g ` Ho$ _y ` H$mo 60,000 < ~ T>m`m OmEJm & (iii) H$ Um AnZo `m{V r{_`_ Ho$ ^mJ Ho$ {bE 80,000 < bmEJr & (iv) H$_ Mmar j{Vny{V {Z{Y H$s Xo`VmE 60,000 < {Zp MV H$s JB & (v) H$ Um ZB \$_ H$s Hw$b ny Or Ho$ 1 5 ^mJ Ho$ ~am~a ny Or Z H$X bmEJr & nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm ZB \$_ H$m p W{V {ddaU V `ma H$s{OE & 8 AWdm 67/2/1 13 P.T.O. nr, `y VWm Ama EH$ \$_ _| gmPoXma Wo VWm 7 : 2 : 1 Ho$ AZwnmV _| bm^ ~m Q>Vo Wo & 1 A b, 2013 H$mo CZH$m p W{V {ddaU {Z ZmZwgma Wm : 1 A b, 2013 H$mo nr, `y VWm Ama H$m p W{V {ddaU am{e Xo`VmE am{e n[ag n{ m`m < ny Or : < ^y{_ 12,00,000 nr 9,00,000 ^dZ 9,00,000 `y 8,40,000 \$ZuMa 3,60,000 Ama 9,00,000 Q>m H$ 6,60,000 26,40,000 gm_m ` g M` 3,60,000 XoZXma KQ>m mdYmZ H$_ Mmar j{Vny{V {Z{Y 5,40,000 amoH$ S> boZXma 6,00,000 30,000 3,60,000 39,00,000 5,70,000 2,10,000 39,00,000 Cn`w $ {V{W H$mo `y Zo AdH$me J hU {H$`m & {Z Z{b{IV {ZU ` {bE JE : (i) \$_ H$s `m{V H$m _y `m H$Z 12,00,000 < {H$`m J`m & (ii) ^y{_ H$m _y ` 30% ~ T>m`m OmEJm VWm ^dZ na 3,00,000 < H$m _y ` mg bJm`m OmEJm & (iii) \$ZuMa H$m _y ` 60,000 < H$_ {H$`m OmEJm & (iv) H$_ Mmar j{Vny{V {Z{Y H$s Xo`VmE 1,40,000 < {Zp MV h B & (v) `y H$mo Xo` am{e H$mo CgHo$ G$U ImVo _| WmZm V[aV H$a {X`m OmEJm & (vi) nr VWm Ama H$s ny Or H$mo CZHo$ ZE bm^ {d^mOZ AZwnmV _| g_m`mo{OV {H$`m OmEJm & Bg `moOZ Ho$ {bE gmPoXmam| Ho$ Mmby ImVo Imobo OmE Jo & nwZ_y `m H$Z ImVm, gmPoXmam| Ho$ ny Or ImVo VWm ZB \$_ H$m p W{V {ddaU V `ma H$s{OE & 67/2/1 14 Kalpana and Kanika were partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2013 they admitted Karuna as a new partner for 1/5th share in the profits of the firm. The Balance Sheet of Kalpana and Kanika as on 1st April, 2013 was as follows : Balance Sheet of Kalpana and Kanika as on 1st April, 2013 Amount Liabilities Assets < Capitals : < Land and Building 2,10,000 Plant 2,70,000 6,90,000 Stock 2,10,000 Kalpana 4,80,000 Kanika Amount 2,10,000 General Reserve Workmen s Compensation Fund Creditors Debtors 1,32,000 Less provision 12,000 1,00,000 1,20,000 Cash 60,000 1,30,000 90,000 9,40,000 9,40,000 It was agreed that (i) the value of Land and Building will be appreciated by 20%. (ii) the value of plant be increased by < 60,000. (iii) Karuna will bring < 80,000 for her share of goodwill premium. (iv) the liabilities of Workmen s Compensation Fund were determined at < 60,000. 1 th Karuna will bring in cash as capital to the extent of share of 5 the total capital of the new firm. (v) Prepare Revaluation Account, Partners Capital Accounts and Balance Sheet of the new firm. OR 67/2/1 15 P.T.O. P, Q and R were partners in a firm sharing profits in the ratio of 7 : 2 : 1. On 1st April, 2013 their Balance Sheet was as follows : Balance Sheet of P, Q and R as on 1st April, 2013 Amount Liabilities < Capitals : Amount Assets < Land 12,00,000 P 9,00,000 Building 9,00,000 Q 8,40,000 Furniture 3,60,000 R 9,00,000 26,40,000 Stock General Reserve 3,60,000 Workmen s Compensation Fund 5,40,000 Creditors 6,60,000 Debtors 6,00,000 Less provision 30,000 5,70,000 Cash 2,10,000 3,60,000 39,00,000 39,00,000 On the above date Q retired. The following were agreed : (i) Goodwill of the firm was valued at < 12,00,000. (ii) Land was to be appreciated by 30% and Building was to be depreciated by < 3,00,000. (iii) Value of furniture was to be reduced by < 60,000. (iv) The liabilities for Workmen s determined at < 1,40,000. (v) Amount payable to Q was transferred to his loan account. (vi) Capitals of P and R were to be adjusted in their new profit sharing ratio. For this purpose current accounts of the partners will be opened. Compensation Fund were Prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of the new firm. 67/2/1 16 18. Eb gr E_ {b{_Q>oS> Zo 10 < `oH$ Ho$ 2,00,000 g_Vm A em| H$mo 3 < {V A e Ho$ r{_`_ na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & am{e {Z Z H$ma go Xo` Wr : AmdoXZ VWm Am~ Q>Z na 8 < W_ Ed Ap V_ `mMZm na {V A e ( r{_`_ g{hV) eof YZam{e & 3,00,000 A em| Ho$ {bE AmdoXZ m h E & 50,000 A em| Ho$ {bE AmdoXZm| H$mo a H$a {X`m J`m VWm am{e dmng H$a Xr JB & eof AmdoXH$m| H$mo AZwnm{VH$ AmYma na A em| H$m Am~ Q>Z H$a {X`m J`m & W_ VWm Ap V_ `mMZm am{e _m J br JB VWm H $da, {OgZo 2,500 A em| Ho$ {bE AmdoXZ {H$`m Wm, H$mo N>mo S>H$a g_ V am{e m hmo JB & CgHo$ A em| H$m haU H$a {b`m J`m & haU {H$E JE A em| H$mo 7 < {V A e nyU X m nwZ {ZJ {_V H$a {X`m J`m & 8 Cn`w $ boZXoZm| Ho$ {bE H$ nZr H$s nw VH$m| _| Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & AWdm EM gr E\$ {b{_Q>oS> Zo 10 < `oH$ Ho$ 75,000 g_Vm A em| H$mo 10% Ho$ ~ >o na {ZJ {_V H$aZo Ho$ {bE AmdoXZ Am_p V {H$E & am{e {Z Z H$ma go Xo` Wr : AmdoXZ VWm Am~ Q>Z na 4 < {V W_ Ed Ap V_ `mMZm na A e eof YZam{e & 2,00,000 A em| Ho$ {bE AmdoXZ m h E & 50,000 A em| Ho$ {bE AmdoXZm| H$mo a H$a {X`m J`m VWm am{e dmng H$a Xr JB & eof AmdoXH$m| H$mo AZwnm{VH$ AmYma na A em| H$m Am~ Q>Z H$a {X`m J`m & W_ VWm Ap V_ `mMZm am{e _m J br JB VWm amOm, {OgZo 1,500 A em| Ho$ {bE AmdoXZ {H$`m Wm, H$mo N>mo S>H$a g_ V am{e m hmo JB & CgHo$ A em| H$m haU H$a {b`m J`m & haU {H$E JE A em| H$mo H$mZyZ mam XmZ A{YH$V_ ~ >m am{e na nwZ {ZJ {_V H$a {X`m J`m & Cn`w $ boZXoZm| Ho$ {bE H$ nZr H$s nw VH$m| _| Amd `H$ amo OZm_Mm {d{ >`m H$s{OE & 67/2/1 17 P.T.O. LCM Ltd. invited applications for issuing 2,00,000 equity shares of < 10 each at a premium of < 3 per share. The amount was payable as follows : On application and allotment < 8 per share (including premium) On first and final call the balance amount. Applications for 3,00,000 shares were received. Applications for 50,000 shares were rejected and money refunded. Shares were allotted on pro-rata basis to the remaining applicants. First and final call was made and was duly received except on 2,500 shares applied by Kanwar. His shares were forfeited. The forfeited shares were re-issued at < 7 per share fully paid up. Pass necessary journal entries for the above transactions in the books of the company. OR HCF Ltd. invited applications for issuing 75,000 equity shares of < 10 each at a discount of 10%. The amount was payable as follows : On application and allotment < 4 per share On first and final call the balance amount. Applications for 2,00,000 shares were received. Applications for 50,000 shares were rejected and money refunded. Shares were allotted on pro-rata basis to the remaining applicants. The first and final call was made and was duly received except on 1,500 shares applied by Raja. His shares were forfeited. The forfeited shares were re-issued at maximum discount permissible under law. Pass necessary journal entries for the above transactions in the books of the company. 67/2/1 18 ^mJ I ({d mr` {ddaUm| H$m {d bofU) PART B (Financial Statements Analysis) 19. amoH$ S> dmh {ddaU ~ZmVo g_` amoH$ S> dmh go `m A{^ m` h ? 1 What is meant by Cash Flow while preparing Cash Flow Statement ? 20. 1 amoH$ S> dmh {ddaU V `ma H$aZo Ho$ {H$gr EH$ C o ` H$m C oI H$s{OE & State any one objective of preparing Cash Flow Statement. 21. 1 {d mr` {ddaU {d bofU H$s {H$gr EH$ gr_m H$m C oI H$s{OE & State any one limitation of financial statement analysis. 22. H$ nZr A{Y{Z`_, 1956 H$s n[aemo{YV gyMr VI ^mJ I Ho$ AZwgma H$ nZr Ho$ p W{V {ddaU _| {Z Z{b{IV _X| {H$g Cn-erf H$ Ho$ A VJ V Xem B OmE Jr : (i) XrK H$mbrZ-G$U (ii) ny Or emoYZ g M` (iii) bKwH$mbrZ mdYmZ (iv) `m{V (v) dma Q>r Ho$ {bE mdYmZ (vi) ~ m S>/Q >oS>_mH $ & 3 Under which sub-headings will the following items be shown in the Balance Sheet of a company as per revised Schedule VI Part I of the Companies Act, 1956 ? (i) (ii) Capital redemption reserve (iii) Short term provisions (iv) Goodwill (v) Provision for warranties (vi) 67/2/1 Long-term Loans Brand/Trademarks. 19 P.T.O. 23. ZdaVZ {b{_Q>oS> Ho$ 31 _mM , 2013 H$mo g_m h E df Ho$ {bE {Z Z bm^-hm{Z {ddaU go VwbZm _H$ bm^-hm{Z {ddaU V `ma H$s{OE : ZmoQ> g `m {ddaU MmbZ go m Am` 2011 12 < < 8,05,000 40% 51,000 5,59,000 `` 6,14,000 43,000 A ` Am` Am` H$a Xa 2012 13 4,88,000 Wr & From the following Statement of Profit and Loss of Navratan Ltd. for the year ended 31st March, 2013, prepare a Comparative Statement of Profit and Loss : Note No. Particulars Revenue from operations 2012 13 2011 12 < < 8,05,000 43,000 Expenses 51,000 5,59,000 Other Incomes 6,14,000 4,88,000 Rate of income tax was 40%. 24. (A) EH$ H$ nZr H$m G$U-g_Vm AZwnmV 1 : 2 h & H$maU g{hV C oI H$s{OE {H$ {Z Z{b{IV boZXoZm| go AZwnmV _| (i) d { hmoJr; (ii) H$_r hmoJr `m (iii) H$moB n[adV Z Zht AmEJm : (1) (2) 67/2/1 1,00,000 < ~ H$ go Ho$ g_Vm A em| H$m {ZJ _Z {H$`m & 1,00,000 < H$m A nH$mbrZ G$U m {H$`m & 20 4 (~) {Z Z{b{IV gyMZm go G$U hoVw Hw$b n[ag n{ m`m AZwnmV H$s JUZm H$s{OE : < XrK H$mbrZ G$U 3,00,000 XrK H$mbrZ Am`moOZ 1,50,000 75,000 Mmby Xm{` d AMb n[ag n{ m`m Mmby n[ag n{ m`m (a) 5,40,000 1,35,000 2+2 The Debt-Equity ratio of a company is 1 : 2. State with reason which of the following transactions would (i) increase; (ii) decrease or (iii) not change the ratio : (1) (2) (b) Issued equity shares of < 1,00,000. Obtained a short-term loan from bank < 1,00,000. From the following information compute Total Assets to Debt Ratio : < Long Term Borrowings 3,00,000 Long Term Provisions 1,50,000 Current Liabilities 75,000 Non-Current Assets Current Assets 67/2/1 5,40,000 1,35,000 21 P.T.O. 25. {b~am {b{_Q>oS> Ho$ 31.3.2013 VWm 31.3.2012 Ho$ p W{V {ddaU _| Xr JB gyMZmAm| Ho$ AmYma na amoH$ S> dmh {ddaU V `ma H$s{OE : ZmoQ> 31.3.2013 31.3.2012 g `m < < {ddaU I g_Vm VWm Xo`VmE : 1. A eYmaH$ {Z{Y`m : (A) A e ny Or 8,00,000 6,00,000 (~) g M` Ed Am{Y ` 4,00,000 3,00,000 2. AMb Xo`VmE : XrK H$mbrZ G$U 1,00,000 1,50,000 3. Mmby Xo`VmE : `mnm[aH$ Xo`VmE 40,000 48,000 Hw$b 13,40,000 10,98,000 II n[ag n{ m`m : 1. AMb n[ag n{ m`m : (A) Wm`r n[ag n{ m`m : (i) _yV n[ag n{ m`m 8,50,000 5,60,000 (~) AMb {Zdoe 2,32,000 1,60,000 2. Mmby n[ag n{ m`m : (A) Mmby {d{Z`moJ ({dH $`-`mo `) 50,000 1,34,000 (~) Q>m H$ (_mbgyMr) 76,000 82,000 (g) `mnm[aH$ m{ `m 38,000 92,000 (X) amoH$ S> VWm amoH$ S> Vw ` 94,000 70,000 Hw$b 13,40,000 10,98,000 ImVm| Ho$ ZmoQ >g ZmoQ> 1 2013 g M` Ed Am{Y ` Am{Y ` (bm^-hm{Z {ddaU H$m eof) 67/2/1 2012 < {ddaU < 4,00,000 22 3,00,000 6 Prepare a Cash Flow Statement on the basis of the information given in the Balance Sheet of Libra Ltd. as at 31.3.2013 and 31.3.2012 : Note No. Particulars 31.3.2013 31.3.2012 < < I Equity and Liabilities : 1. Shareholder s Funds : (a) Share Capital 8,00,000 6,00,000 (b) Reserves and Surplus 4,00,000 3,00,000 1,00,000 1,50,000 40,000 48,000 13,40,000 10,98,000 8,50,000 5,60,000 2,32,000 1,60,000 (a) Current Investments (Marketable) 50,000 1,34,000 (b) Inventories 76,000 82,000 (c) Trade Receivables 38,000 92,000 (d) Cash and Cash Equivalents 94,000 70,000 Total 13,40,000 10,98,000 2. Non-Current Liabilities : Long Term Borrowings 3. Current Liabilities : Trade Payables Total II Assets : 1. Non-Current Assets : (a) Fixed Assets : (i) Tangible Assets (b) Non-Current Investments 2. Current Assets : Notes to Accounts Note 1 2013 Reserves and Surplus Surplus (Balance in Statement of Profit & Loss) 67/2/1 23 2012 < Particulars < 4,00,000 3,00,000 P.T.O. ^mJ J (A{^H${b boIm H$Z) PART C (Computerised Accounting) 19. hmS> do`a go `m A{^ m` h ? What is meant by hardware ? 1 20. S>mQ>m~og {S> OmBZ `m h ? What is database design ? 1 21. {deofVmAm| go `m A{^ m` h ? What is meant by Attributes ? 1 22. A{^H${b boIm H$Z V H$s VrZ gr_mAm| H$mo g_PmBE & 3 Explain three limitations of Computerised Accounting System. 23. dJuH$aU {d{Y H$mo g_PmBE & 4 Explain the method of Codification . 24. S>mQ>m~og ~ Y V (S>r.~r.E_.Eg.) Ho$ H$moB Xmo gm_m `V Cnb Y gm Q>do`a Ho$ Zm_ ~VmBE & S>mQ>m~og ~ Y V (S>r.~r.E_.Eg.) Ho$ {H$ ht VrZ Xmofm| H$mo g_PmBE & 4 Give the names of any two commonly available Data Base Management System (D.B.M.S.) softwares. Explain any three disadvantages of Data Base Management System (D.B.M.S.). 25. {Z Z{b{IV gyMZm go {Z Z am{e`m| H$s JUZm Ho$ {bE E gob na gy H$s JUZm H$s{OE : (A) _H$mZ {H$am`m ^ mo Ho$ {bE, _yb doVZ 35,000 < VH$ 25% H$s Xa go VWm Bggo D$na 30% H$s Xa go & (~) ^{d ` {Z{Y ( mo{dS>|Q> \ $S>) KQ>mZo Ho$ {bE, _yb doVZ 35,000 < VH$ 25% H$s Xa go VWm Bggo D$na 30% H$s Xa go & (g) ew doVZ Ho$ {bE, _yb doVZ _| _H$mZ {H$am`m ^ mm Omo S>H$a VWm ^{d ` {Z{Y ( mo{dS>|Q> \ $S>) KQ>mH$a & 6 Calculate the formulae from the following information on Excel for computing the amounts for : (a) House Rent Allowance, Basic Pay upto < 35,000 at 25% and above it at 30%. (b) Provident Fund deduction, Basic Pay upto < 35,000 at 25% and 30% above that. (c) Net Salary, adding House Rent Allowance and deducting Provident Fund calculated from Basic Pay. 67/2/1 24 2,000

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