Sample Paper – 2012
Class – XII
Subject – Accountancy

1. How many years a company must do business so that it can issue its shares at a discount ? Also state maximum limit if any on such discount.

2. Which type of goodwill can be recorded in the books of account as per AS-10. ?

3. Name two methods of valuation of goodwill.

4. State an important characteristic of Income & Expenditure A/c

5. In what ratio retiring partners share of goodwill is adjusted into the accounts of continuing partners ?

6. City Finance Ltd. issued 4,00,000 13.5 % Debentures of Rs 500 each . Pass necessary journal entries for issue of Debentures in the following cases :

i) When debentures are issued at par and redeemable at 5 % premium.

ii) When debentures are issued at 5 % premium and redeemable at par.

iii) When debentures are issued at 5 % premium and redeemable at 7 % premium