CBSE Guess Paper: 2011
Class- XII
(Accountancy)
SET - 1
PART A
(PARTNERSHIP & COMPANY ACCOUNTS)
Q1. What is the nature of Receipts & Payments Account? (1 Mark)
Q2. A and B are partners sharing profits in the ratio of 2:1. C is
admitted for 1/4th share. Calculate new and sacrificing ratio. (1 Mark)
Q3. Name the two items that would appear in credit side of Partner’s
Capital account when capitals are fixed. (1 Mark)
Q4. How is provision for doubtful debt treated at the time of
dissolution of firm? (1 Mark)
Q5. State any two purposes for which Securities Premium A/c can be
utilized. (1 Mark)
Q6. How will you deal with the Donation while preparing the final
accounts for the year ending on 31/3/08 in each of the following cases: (3
Mark)
(a) During the year 2007-08, donation received Rs.50,000 and it is treated as
capital item as per the policy of the club.
(b) During the year 2007-08, donation received Rs.50,000 and 60% of the
donation is to be capitalized as per the policy of the club.
Q7. 500 shares of Rs.100 each issued at a discount of 10% were
forfeited for non-payment of allotment money of Rs.50 per share. The first and
final call of Rs.10 per share on these shares was not made. The forfeited shares
were reissued at Rs.80 per share fully paid up. Journalise.(3 Mark)
Q8. A company redeemed its Rs.2,00,000 debentures at 10% premium out
of profits. The company has sufficient profits for the purpose. Pass necessary
journal entries.(3 Mark)
Q9. A, B and C are partners sharing profits and losses in the ratio
5:3:2. Their capital on 1/1/09 were Rs.1,00,000, Rs.80,000 and Rs.60,000
respectively. They withdrew Rs.500 each on first day of every month. According
to their partnership agreement they are allowed interest on capital @ 5% and
charged interest on drawings @ 6% per year. The profits for the year 2009 as per
Profit and Loss A/c amounted to Rs.1,50,000 out of which Rs.10,000 were
transferred to General Reserve. A and B were entitled to a salary of Rs.2,500
and Rs.2,000 per year and C is entitled to a commission of 5% on net divisible
profit after charging such commission. Prepare Profit and Loss Appropriation A/c
and show your workings clearly. (4 Mark)
Q10. P, Q and R were 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 1/4/2009.
They decided to record the effect of the following without affecting the book
value of Profit & Loss A/c (Cr.) Rs.24,000 and Advertisement Suspense A/c
Rs.12,000. Pass the necessary adjusting entry. (4 Mark)
Q11. XYZ Ltd. purchased sundry assets worth Rs.3,81,000 and assumed
liabilities of Rs.81,000 from ABC Ltd. The purchase consideration was agreed at
Rs.2,80,000. The amount was to be paid by 8%debentures of Rs.100 each at a
premium of 25%. Give necessary journal entries. (4 Mark)
Q12. X Ltd. Issued 2,00,000 shares of Rs.10 each payable as Rs.2.50 on
application (on 1/1/09), Rs.2.50.on allotment ( on 1/4/09), Rs.3 on first call (
on 1/7/09) and Rs.2 on second & final call (on 1/10/03). All the shares were
subscribed and all the sums were duly received. Amit, a shareholder, who had
1,000 shares paid the amount of first and second calls with the
allotment.Whereas Sumit, another shareholder, paid the amount of first call with
the second call. Company adopted Table A for interest on calls in arrears and
calls in advance. Pass necessary journal entries. (6 Mark)
Q13. From the following Receipts & Payments A/c of a club and adjustments
prepare Income & Expenditure A/c and Balance Sheet as on 31/12/09: (6 Mark)
Receipts |
Rs. |
Assets |
Rs. |
To balance b/d |
1,90,000 |
By salaries |
3,30,000 |
To Subscriptions |
6,60,000 |
By sports equipment |
4,00,000 |
To interest on investments @8%p.a. for full year |
40,000 |
By balance c/d |
1,60,000 |
|
8,90,000 |
|
8,90,000 |
Additional information:
- The club had received Rs.20,000 for subscription in 2008 for the year
2009.
- Salaries had been paid for 11 months only.
- Stock of sport equipment on 31/12/08 was Rs.3,00,000 and on 31/12/09
Rs.6,50,000.