
	Trending ▼ ICSE CBSE 10th ISC CBSE 12th CTET GATE UGC NET Vestibulares ResFinder

CBSE XII Sample / Mock 2017 : ACCOUNTANCY (with Marking Scheme / Solutions)

21 pages, 32 questions, 0 questions with responses, 0 total responses,

	cbse12	+Fave Message
	Profile Timeline Uploads Q & A

Home > cbse12 > SAMPLE / MOCK Question Papers : CBSE Board Class 12 >

Formatting page ...

SAMPLE QUESTION PAPER ACCOUNTANCY (055) CLASS-XII 2016-17 Time allowed Three hours Maximum Marks: 80 General Instructions: 1) This question paper contains two parts A and B. 2) Part A is compulsory for all. 3) Part B has two options Financial Statements Analysis and Computerized Accounting. 4) Attempt only one option of Part B. 5) All parts of a question should be attempted at one place. PART A: ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES Q1. A, B and C are partners sharing profits and losses in the ratio of 5:3:2. C retired and his capital balance after adjustments regarding reserves, accumulated profits/ losses and gain/loss on revaluation (1) was `2,50,000. C was paid `3,00,000 in full settlement. Afterwards D was admitted for 1/4th share. Calculate the amount of goodwill premium brought by D. Sol: Goodwill share of C= `3,00,000-`2,50,000= `50,000 Firm s Goodwill = 50,000x10/2= `2,50,000 Q2. D s share in Goodwill= `2,50,000x1/4= `62,500 A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital (1) accounts of A and B were `3,85,000 and `4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C. Sol: Combined capital of A and B = `3,85,000+`4,15,000= `8,00,000 C s share=1/5th of total capital Remaining share= 1-1/5 =4/5 4/5= `8,00,000 C s capital= `8,00,000x5/4x1/5= `2,00,000 Q3. A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is `2,50,000. (1) The total interest on partner s drawing is `4,000. A s salary is `4,000 per quarter and B s salary is `40,000 per annum. Calculate the net profit/loss earned during this year. Sol. Net Profit during the year=Divisible profits + Salary to partners Interest on Drawings = 2,50,000+16,000+40,000-4000= `3,02,000 Q4. ABC Ltd. purchased for cancellation its own 5,000, 9% Debentures of `100 each for `95 per debenture. (1) Brokerage charges `15,000 were incurred. Calculate the amount to be transferred to capital reserve. Amount paid for 5,000 Debentures=4,75,000+15,000= `4,90,000 The nominal value of debentures to be redeemed/cancelled= `5,00,000 Q5. Amount of profit on redemption to be transferred to capital reserve= `5,00,000--`4,90,000= `10,000 When can shares held by a shareholder be forfeited? Answer: Shares held by a shareholder can be forfeited for the non-payment of call money due. (1)

Formatting page ...

Tags : cbse, cbse papers, cbse sample papers, cbse books, portal for cbse india, cbse question bank, central board of secondary education, cbse question papers with answers, prelims preliminary exams, pre board exam papers, cbse model test papers, solved board question papers of cbse last year, previous years solved question papers, free online cbse solved question paper, cbse syllabus, india cbse board sample questions papers, last 10 years cbse papers, cbse question papers 2017, cbse guess sample questions papers, cbse important questions, specimen / mock papers 2018.

cbse12 chat

Horizontal lines at:
Guest Horizontal lines at:
AutoRM Data:
Box geometries: