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CBSE Class 12 Pre Board 2021 : Accountancy - Set 2 (CBSE Gulf Sahodaya Qatar Chapter, Doha)

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PRE-BOARD EXAMINATION-2020-21 SUBJECT - ACCOUNTANCY Class: XII (CBSE). Date . Total Marks: 80 Time: 3 hrs. General Instructions: 1. This question paper contains two Parts A and B. 2. Both the parts are compulsory. 3. Show the necessary working notes along with answer 4. All parts of a question should be attempted at one place PART A (Accounting for Not-for-Profit Organizations, Partnership Firms and Companies) 1 How are the following items presented in financial statements of a Not-for- Profit organisation:(a) Tournament Fund- 80,000 (b) Tournament expenses-14,000 1 2 When the incoming partner brings in his share of premium for goodwill in cash. it is adjusted by crediting to (a) Incoming Partner s Capital Account (b) Premium for Goodwill Account (c)Sacrificing Partner s Capital Account (d) None of the above 1 3 State the order of payment of the following, in case of dissolution of partnership firm. i. to each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner loan); ii. to each partner proportionately what is due to him on account of capital; and iii. for the debts of the firm to the third parties; 1 4 On dissolution of a partnership firm, Goodwill if appearing in the Balance Sheet, is transferred 1 to the-----------------------Account. 5 Amit, a partner in a partnership firm withdrew 7,000 in the beginning of each quarter. For how many months would interest on drawings be charged? 1 6 Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. They had the following balance in their balance sheet, passing necessary Journal Entry: Particulars Amount( ) Profit and loss Account (Dr) 60,500 1 7 X and Y shared profits and losses in the ratio of 3:2. With effect from 1st April, 2019 they agreed to share profits equally. The goodwill of the firm was valued at 60,000. The necessary single adjustment entry will be: 1 Page: 1

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