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ISC Class XII Sample / Model Paper 2024 : Accounts : Term

14 pages, 67 questions, 0 questions with responses, 0 total responses,

Kena Motiwala
Podar International School ICSE, Nerul, Navi Mumbai

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Accounts Test -12.09.2024 Q1 Answer all the questions mentioned in sub-parts (i) to (x) (i) Following is the information extracted from the books of Max Ltd. [1] 6% of debentures (1/5 of the debentures to be redeemed on 31.03.23) 2,00,000. What amount will be shown as long-term liabilities while preparing the Balance sheet as per the schedule III of Companies Act 2013 as on 31.03.2022. (a) 2,00,000 (b) 40,000 (c) 1,60,000 (d) 1,00,000 (ii) Amit, Rakesh and Hemant are partners in a firm sharing profits and losses in the ratio of 2:2:1. Their capitals (fixed) are 1,00,000; 80,000 and 70,000 respectively. For the year ended 31.03.21 interest on capital was credited to them @9%p.a instead of 12%p.a. A) The error in Rakesh s capital /current A/c will rectified by: (i) Debiting his capital, A/c by 600 (ii) Crediting his current A/c by 600 (iii) Crediting his capital, A/c by 600 (iv) Debiting his current A/c by 600 [1]

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