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CBSE Class XII 2011 : ACCOUNTING FOR BUSINESS II [Set 1]

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C ode I S S eries I OS ; o n C ode t he % - ~ - a:> ' Q5T a nswer-book. w rite t - ~ ~ he m us~ o f m T p age m t a fT2U itle C andidates t ~~fff;[il ~ he I I I I I I I I I I I I I I I I N o. ~ . ~ Roll "Cf))s;j . that b e s candidate. 20 Number hould p aper q the contains Serial pages. uestion by paper questions. of the question before paper. 10.15 only The a.m. and will to not question 10.30 a.m., write any answer I ~ ~ I - q)) ~ " q)T m -~ m -~ ~ I ~ ~ ' Cfq:j I ~ T<:rT ~ ~~~~ f G11T 1 0.30 ~ ~ " q)T ~ am a:fqfJ. ~ ~ ~~ ~ ' q\ ~ ~ -~ I ~-~"q)T ~ ~ 8 - q)) ~ - ;:riq"{ m 2 it;s ~ ' f tRG 1 0.15 1 5 I ~ 'q\ ~ ~ ~ I ~ B ~~iCf)~ - II : I ~ ~Q~I<.4 - USINESS F OR ACCOUNTING ~-~~ I ~ ~ ~ ~ - q)) ~ m -~ 1 0.15 ~ '# the period. # ~ m m -~ ~ a -~ this m ~ ~ f Cfi f Cfi ' # ~ ' # - q:j\ ~ - q:j\ ' # paper during question From ~ ~ a.m. question script ~ ~ m -~ 10.15 this ~ the read ~'q)T~~~~~~, ~ at read answer to I distributed will the allotted ~ be been ' will has 0 time # minutes on . t answer-book the printed he o f s 8 ide h and r ight t he the question down students . of this contains it. paper, . paper page write 15 . o title attempting . n the check Please . question g on Please . this iven n written . that umber C check ode Please . . All questions are compulsory. Give working no'tes ; ; c ': , " , ! 6 I P .T.D. ~ U /fU/4T 3 1/q:t4~ ~/4~/<7.f2 1 : Jreif I ~ 3 m" i !Ii m \ f{,ft : 'tJTJ L 232 ~ necessary 6 0 wherever 0 : 3 i1ti M arks: 3 ~ M aximum h ours F lU-?: 3 3 Instructions: : ~ a llowed: RY:1fR-rr Time i ""C ? ~ ~ a nalysis? . ~ i nter-firm i n h a elp I~~~~UI I ~ 3 r4 a ? of investments? ccounting. ~ 3 c r4 purchase osi ~ o f " qjT ~ o bjectives a ny S -q~Ii1~I'1 ?;\" "qjT by cum-interest ~ is me~nt tate ~ -q"{ ~ ~~~t~~~~1 4. ~ " What ~ 3. t~ -~ ~ qjT 't" "Srq:jR -~ ~ ,1 Give the meaning of floating interest rate on , housing loan. t " wo 2. ,~"""" I~~~~UI ~ q: ~ nalysis r atio d oes H ow 1 . , r,,:'l , ;,~L" :1;" 5. Distinguish between Memorandum of association and Articles of t he t he i n o f I i tems P art V I f ollowing t he S chedule p ut y ou p er 1 VI 'I:rT1T t~ I Goodwill. ~ ~ ~ t f rom s I tock C ~ losing a s tock O nd ~-'5rr1fd -q"{,~ ~, ~, Acceptances, ~~: pening C alculate -q"{ ~ ~ 956 3 1~ ~fqq"{UT.q:~~~~ am t ~ I ~ ~ . q: 3 1-'(:1f!ti1~1 I a s w ill ~ 3 c ompany : ~ & 11 1'1'""'iI~I~<:1 8. system. he 1956 accounting on issue of shares, Work-in-progress, ~ Discount r4 " qjT h eadings Act a o f m ajor S Companies ~ ~ ~ ~II-I~ - q"{ ~ ~ of computerized heet w hich U nder Balance 7. ~ the meaning ;r Give 31~ 6. t m~ association on the basis of alteration. information: : s tock. I ~ O pening q 5 0% ;11TURT t he ? ~ ;\" ~ ~ t -q"{ ~ ~ han t on sale 50%. imes. 4 m ~ ~ ore w as 1 0,000 ' ~ t R atio w as ~ s 2 ~ ,00,000; ' t ~ R'""'iI~I~<:1 ~ tock T urnover Closing Stock Sales 't 2,00,000; Rate of gross profit 232 1 'i:rf I 0,000~ ' t ~ ~~ ~~, ~~~4"J]UTT'i:rf1 2 , "":J~, - 111111111111..- , ~ .. :. -,- . J o f e ach 1 00 o f"t d ebentures 9 p aise 2 5 w as p arty, e ach b y p being payable on 1st June and aid C Interest ommission y ear. e ach D ecember s t 1 Vibha Ltd. at "t 112 ex-interest. % 1 50 p urchased L td. S hiv 3 1.1.2009 O n 9. . percent. I ~W~ ~ 3 . r n ~ ~ . r n f uq ~ ~ ~ ~ ~ 31st December 2010 Ajanta Ltd. purchased and J anta o f e ach 1 00 o d below: ebentures 8 7 given ,500, p as per details urchased M arch, ~ ended f"t the year sold investments 31st ~ ~ I ~ O qj) ~ - q l TURTarf ~ During % 10. ~'1II-iT-t1 ~ 31f1;ft 25~~~~~~~1 ~~~ 1~>rfu~~~~~~0qj)~?:rT ~ ~ ~ 9 % 1 50 ~ ~ 1 00 " t ~ r n. f - fuq rn. Oqj) q 31.1.2009 cfIn Showing your calculations clearly record the above transactions in the Journals of both Shiv Ltd. and Vibha Ltd. is payable every 1st July sold year o f e ach 1 00 " t o is and stamp duty being "t 5,000. Interest on 1st July "t 10,00,000 f d ebentures 8 % 1 4,000, p urchased M ay 1 Janta Ltd. at "t 94, brokerage ~ , st On Ltd. at "t 98, stamp duty and brokerage being "t 6,000. Interest paid on these debentures every year on 1st July and 1st January. and debentures 1st January. of Janta I Ltd. at "t 110 less brokerage etc. "t 3,000. These debentures were purchased on 1st March. in the books of Ajanta Ltd. for the year m m ~ ~ ~ - R~I~I<9(:1 q r n. a :fjfffi - q ~ 3 ~ O qj) 2 3 Account ~ O qj) ~ ~ ~ 9 8 ~ " t ~ ~ ~ ~ ~ ~ ~ ' Q\ 8 % ~ ~ I 7 ,500, ~ ~ r n. 6 ,000 " t ~ ~ ~ ~ ! ~ ~ ~ ~ ~ 9 4 " t ~ ~ ~ ~ ~ ~ m ~ 8 % > rfu ~ I 1 4,000, ? :rT ~ 5 ,000 ~ " t 1 00 ~ " t I ~ q ? r n. :rT ~ 1 ~ " \"\"?:rT ~ . ~ " t ~ ~ O ~ I qj) ~ ~ >rfu ~ ~ ~ ~ ~ ~ O qj) m T:f 1 10.~ " t ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ I r n. ~ ~ 3 ,000 ~ " 3 , I ~ ~ ~ - q ~ ~ r n. a :fjfffi ~ ~ ~ ~ ~ O 232 - t ~ 1 0,00,000 " t ~ O qj) I I qj) 31.12.2010 ?:rT ~ ~ ~ ~ ~ Oqj)~~1 ! Oqj) I mT:f ~ 31 00 ~~~~~: 1 I 010 ~,': ~ Prepare Investment ended 31.12.2010. i ~ i P.T.D. . 11. What is meant by a cost centre? Explain different types of cost centres. ~ ~ ~?~ 'q)T ~ a:rl?f Describe the following characteristics ~ of a joint ~4i~I~~ I stock company: 3 s eal C ommon Limited : ~ q uR ' ~ ~3rt ~ ~ : 3 1.3.2010 o n a s L td. X Y o f S heet B alance t i s F ollowing ~ 1jQ"{ ~ ~14i1r.(.j (iii) (ii) ~ RI-..1I~I.(gd mm ~ ~ ~ (i) ~~ liability q)T (iii) 13. ~ m'1T(f ~ >rq:jR Separate, legal entity (ii) (i) he 12. 3 Bank 1 ,00,000 R eceivables 40,000 40,000 A ccount L Stock 1,50,000 20,000 Fixed Assets General Reserve Investment 60,000 oss & ~ A B Overdraft Creditors. Profit Bank ills 1 2,00,000 ,50,000 Capital D Share ebentures 9% Equity ssets Amount ~ Liabilities Amount 60,000 1,50,000 30,000 5,00,000 5,00,000 - 232 . , ..,.-- Ratio and (ii) Debt Equity 4 G ross o f R ate 1 ,30,000. 4 ,90,000. ~ ~ w as w ere S tock 3 O 1.3.2010 (i) Stock Turnover pening & e nded 2 0% y ear w as t S he Calculate ales d uring o n P rofit \ Sales ,., Ratio. 4 , " . ~ : ~ " RJ:;f ~ ~ .\lfu 4 0,000 1 ,00,000 6 1 ,50,000 0,000 m ' ~ ~ 0 I-(oj~<.ji 1,50,000 00 ~ ~ 4 0,000 6 0,000 2 0,000 14. Explain the Account'. '~ ~' different services ~ - q"{ ~ I ~ provided by I ~ 7 TURT ~ I 4 ,90,000 ~ f ~ ~ 1 ~ 5,00,000 ,30,000 # ~ f ~ ~ ( ii) ~ ~ ~ ~ ~ ~ ~ ? it ~ 2 0% ~ (i) G"{" 'q1'Tf 2 31 010 5,00,000 ~ 3 , 0 ~ ~ SfTt:"l;f ~ f 2 ,00,000 ~ m r ~ ~ ~-~ ~Il'il~ f ~I-(oj~<.ji 1,50,000 ~ UI'1:! . ~ ~ 9% ~ ~ \lfu ~ ' q:jT r n. ~ .qft. ~ 31.3.2010 c. banks through 'Demat 4 ~ ~~ ~ ~ ~ qrffi ~ ~ ~3# ~ ~1'i~1~~ I 1 # ~~~<.jl'i'i ~ ~ 956 ~ ~, ~ 3 rI.f 'q:jT "q:<:rT ? ~~~<.jl'il ~ 15. What is meant by Articles of Association? State the provisions of Companies Act, 1956 regarding Articles of Association. # ~ 4 ~ ~~~~I 4 levels. 5 5 quH 5 b anks. b 'q:jT ~ I P.T.D. c. , :;"" c. ~ ~3# y p I rovided s ervices ~ .~.~. System. I ~ q uH ' q:jT S ME ( ( b) ~ a nd Accounting at different -q"{ ~1'i~1~~ ~) " ~ software ~ ~ - a.:ntIR of Computerised 'qR ~ ~ s ~~ ervices ( "q)") o rnf T rade ~ ( > rGR ~ a) ~ I~~<.j\ ~~ D ~~ the use of accounting escribe ~ 18. 232 ~ Explain ~ 17. ~ Describe any four advantages ~~ 16. , 6 3 2 0,000 1 2,500 6 ,00,000 2 ,00,000 E xpenses 2 0,00,000 S uppliers 2 ,00,000 A ssets F ixed ~ C r 6 99,700 Amount y Expenses ear 2,000 t Debtors he 5,500 f C ash 2 ,700 Preliminary 1 27,500 1,500 99,700 1 1,000 ,200 22,500 97,500 5,000 4 0,000 3 0,000 M achinery 9 ,500 Land or L td. R am a i J o f L td. Z Goodwill 1 T ax S undry P articulars ~ ~ ~ ~ Assets 7,500 3 ,00,000 L oan S alaries B y 5 ,500 - c I ncome B y o f 2 ,500 31.3.2009 31.3.2010 /d D B y Flow ividend B Cash y a B By ~ t ransactions 97,500 ank By 5 0,000 prepare 80,000 10,000 B By 3 ,00,000 A /c L oss a nd 75,000 alance By 2 8,00,000 S tatement P ayable Creditors 2 OR F low C ash a Prepare Reserve. ,00,000 C ash o f s ummary t he From Capital 3,50,000 33,50,000 . C 31.3.2010, Tax 2,000 2,500 Income apital b Dr. ended id Particulars for S b alance To Provision hare E quity To General A S ales To Profit Share ssets F ixed To Bills Liabilities 2,000 1,500 21,500 - -- 232 a nd 3 1.3.2009 o n a s L td. Z o f S heets B alance t he a re F ollowing 1 9. ~ . 31.3.2010. 31.3.2009 31.3.2010 33,500 Statement: Amount . 33,50,000 232 7 3 0 , 0 0 , 00 2 0,000 5 00 1 2 2 ,00,000 ~ ~ 2 0,00,000 ' tiffi~ ~j.J..jfu~i 1 ~ ~ 50,000 ~ 7500 2,00,000 . ~j.J..jfu~i ~ 3 -wJ. , ~ ~ t' ' ~ 3 ,00,000 ~ ; ir!lJ ~ ~~ 31T./~. . 2 8,00,000 ~ r' ~ ~ ~ ~ ~ ~ : ~ -;n'q" : ~ f qq\Uf ~ ~ ~ ~ ~ ~ ~ ~ f fi. ~ ~ ~ ~ ~ ~ ~ ( :ti) 31-3-2010 ~ I ~ ~ ~ ~ q :jT f fi. . ~ : -, . 9 9,700 9 7,500 9 9,700 9 7,500 !&~' 1 ,200 1 5,000 ~ 7 00 2 , 2 ,500 ~ ~ tt:~~ 1 ,000 1 ,500 ~ ~ 2 ,000 2 ,500 ~ ~{~;~ 2 2,500 2 7,500 ~ 5 ,500 2 ,000 ~ ~ 3 -wJ. f. ~ m'I1-~ 4 0,000 3 0,000 ~ 9 ,500 5:500 ;ft./~. ~ ~ - , ~ '.. -~ 1: . ~ ; ;, ~ ~ 3 3,500 2 1,500 ~ - 1 0,000 ~ ~Il-il~ 1 ,500 2 ,000 ~ 8 0,000 7 5,000 ~ ;ir!lJ ~ ~ ~ ~ , :' 3 1.3.2010 3 1.3.2009 3 1.3.2010 3 1.3.2009 G 9~1~ ' ~ j.J..jfu~i' ~ I ~ ~-= J ~~ : ~ ~ ~ ~ ~ ~ ~ f fi. ~ . ~ 3 1.3.2010 ~ 31.3.2009 - , 1:~,;;;; W;c 2,00,000 6,00,000 ' , 33,50,000 P.T.D. - - ~-~.c-::_- 232 8 ,000 2 6 ,000 3 5,000 1 0,000 8 0,000 7 ,000 ~ R4-o"t1(.'1I~ct 0% of works Cost of opening stock of finished goods 8,000 Cost of closing stock of finished goods 8 f 1 0,000 8 0,000 7 ,000 m aterial ~ 31.3.2010, qq"{UT 20% f Direct expenses filfff wfiges " w ages m aterial R aw ended qjT f fi. ~ - ~ overheads " ~ d irect o f 1 00% - o f s tock O pening year qjT f 1 00% " qjT ~ ~ ~~ filfff ~ 1(~lrjl - OR Administrative the ~ 9 ,000 f filfff ~ ~ p urchased m aterial R aw for ~' I " i:ti1 ~ YRCX4~ ~ R aw o f s tock C losing ~~ information - - f filfff " ~ ~ - advantages i:ti1 ~ Factory overheads ~ a:r~ ~ " qjT 1 =ffi'f ~ q ~ " qjT 1 =ffi'f ~ ~ following uf;r " ~ " qjT 1 =ffi'f ~ and qjT ) ~ ~ ~ j~II~R~ ~ YRCX4~ - cx:r;r ~ the ~ ~ ' ~1~f(.'1~ (i?:JT ~ Office ~ ~ 1 =ffi'f ~1(~lrjl Direct ~ 1 ~ 31.3.2010 =ffi'f ~ ~: Describe ~ ~ ~ ffilfff "j~ the - t ~ :c From - ' - ~ 20. prepare a Cost Sheet of Ayaj Ltd : 6 "' :1:, 35,000 6,000 cost 9,000 of Cost Accounting. 1,100 , ,j. : ; , r ~'.

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Additional Info : CBSE Class XII Board Solved Question Paper 2011 Accounting for Business set 1
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