(Accountancy) CBSE Class 12th Accountancy Exam Paper, 2004 (Delhi: Set - 2)
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Paper : CBSE Class 12th Accountancy Exam Paper, 2004 (Delhi: Set - 2)
General Instructions:
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This question paper contains three parts A, B and C
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Part-A is compulsory for all candidates.
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Candidates can attempt only one part of the remaining parts B and C.
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All parts of the questions should be attempted at one place.
PART - ACCOUNTING
Q. 1. Why is P & L Appropriation Account prepared by a Partnership firm’ 2
Q. 2. Distinguish between a ‘Share’ and a ‘Debenture’ (any four points) 2
Q. 4. State the meaning of ‘Redemption of Debentures out of Profits’. 2
Q. 5. The partners of a firm distributed
the profits for the year ended 31st March, 2003, Rs. 60,000 in the ratio of
3 : 2 : 1 without providing for the following adjustments:
(i) A & B were entitled to a salary of Rs. 1,500 per annum.
(ii) B was entitled to a commission of Rs. 4,500.
(iii) B & C had guaranteed a minimum profit of Rs. 25,000 p.a. to A.
(iv) Profits were to be shared in the ratio of 3 : 3 : 2.
Pass necessary journal entry for the above adjustment in the books of the firm. 3
Q. 6. Pass necessary journal entries in the
books of the company in following cases for redemption of 2,000, 12% Debentures
of Rs. 10 Each Issued at par:
(a) Debentures redeemed at par by conversion into 12% Pref. Shares of Rs. 100
each.
(b) Debentures redeemed at premium of 10% by conversion Into Equity shares at
per
(c) Debentures redeemed at a premium of 10% by conversion into Equity shares at
a premium of 25%. 3
Q. 10. P Ltd, issued Rs. 3,000 12%
Debentures of Rs.100 each at a discount of 6% to be redeemed as follows:
1st year: NIL; 2nd year: NIL; 3rd year: Rs.2,00,000; 4th year; Rs. 1,00,000.
Show the Discount on the Issue of Debentures Account for the period of 4 years. 4
PART B: ANALYSIS OF FINANCIAL STATEMENTS
Q. 18. List any three tools for analysing the financial statements. 3
Q. 19. Rs. 3,00,000 is the cost of goods sold, Inventory turnover 8 times, Stock at the beginning is 2 times more than the stock at the end Calculate the values of Opening & Closing stock. 3