(Download) CBSE Class-12 Sample Paper 2023-24 : Accountancy
Sample Question Paper 2023-24
Subject Name : Accountancy
Subject Code : 055
Time Allowed: 90
Minutes Maximum Marks: 40
1 A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which 30,000 and 10,000 are credited as a premium for goodwill to A and B respectively. The new profitsharing ratio of A:B:C will be:
2 Assertion: Batman, a partner in a firm with four partners has advanced a loan of 50,000 to the firm for last six months of the financial year without any agreement. He claims an interest on loan of ₹3,000 despite the firm being in loss for the year.
Reasoning: In the absence of any agreement / provision in the partnership deed, provisions of Indian Partnership Act, 1932 would apply.
a) Both A and R are correct, and R is the correct explanation of A.
b) Both A and R are correct, but R is not the correct explanation of A.
c) A is correct but R is incorrect.
d) A is incorrect but R is correct.
3 If 10,000 shares of Rs. 10 each were forfeited for non-payment of final call money of 3 per share and only 7,000 of these shares were re-issued @₹ 11 per share as fully paid up, then what is the minimum amount that company must collect at the time of re-issue of the remaining 3,000 shares?
a) Rs. 21,000
b) Rs. 9,000
c) Rs. 16,000
d) Rs. 30,000
On 1st April 2022, Galaxy ltd. had a balance of ₹8,00,000 in Securities Premium account. During the year company issued 20,000 Equity shares of Rs.10 each as bonus shares and used the balance amount to write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of ₹100 each at a discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P&L for the year for Loss on issue of Debentures would be: