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CBSE Class 12 Pre Board 2020 : Accountancy - Prelim 1 (Delhi Public School (DPS), Jammu)

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Delhi Public School, Jammu Assignment for Pre-Board Examination (2019-20) Subject: Accountancy Class: XII M.M:-80 Max. Time: 3 Hrs. General Instructions: 1. 2. 3. 4. 5. This question paper contains two Parts A and B. Both Part A and B are compulsory. All parts of a question should be attempted at one place. Marks are indicated against each question. All workings are a part of the answer. PART A ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES 1. Show how Building Fund will be dealt with in the financial statements of Delhi Football Association: Balance of Building Fund Rs.10,00,000 Donation Received for Building Rs.12,00,000 Expenditure Incurred on the Construction of sports room Rs.9,00,000 1 2. Match the following: Group A Group B i) Dissolution of Firm a)Appear in Balance Sheet ii) Credit Balance in Realisation A/c b) Realization A/c iii) Reserve Fund for Distribution c)Gain on Realization 1 3. X and Y are partners in a firm not having a partnership deed. X spends twice the time that Y devotes to business. X claims that he should get a salary of Rs.10,000 per month for his extra time spent. Y does not want to give salary. State who is correct and why? 1 st 4. Ajay, Bhawna and Shreya were partners sharing profits in the ratio of 2:2:1. On 1 July, 2019 Shreya died. The books of accounts are closed on 31st March every year. Sale for the year 2018-19 was Rs.5,00,000 and that from 1st April to 30th June 2019 was Rs.1,40,000. The rate of profit during the past three years had been 20% on sales which it is to be the basis to calculate Shreya s share of profit. Calculate Shreya s share of profit till the date of her death and pass necessary journal entry. 1 5. Give the journal entry to distribute Workmen Compensation Reserve of Rs.50,000 at the time of admission of Z, when there is no claim against it. The firm has two partners X and Y. 1 6. X, Y and Z are partners sharing profits in the ratio of 3:2:1. Y retired from the firm. New profit sharing ratio is decided to be 5:1. For the adjustment of goodwill, accountant has calculated Gaining Ratio as 2:3. Is he correct? 1 7. On death of a partner, his share of goodwill will be contributed equally by continuing partners, if .. 1 8. Pass the Journal Entry to distribute goodwill of Rs.1,00,000 brought by Anil, a new partner as his share, which he gains equally from Samay and Suraj. 1 9. Capital that a Company decides to call at the time of winding up is termed as . 1 10. Profit & Loss Appropriation Account is prepared to give effect to: a) Partnership Act, 1932 b) Partnership Act, 1932 and Partnership Deed c) Partnership Deed d) Partnership Deed and other Agreements 1

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