CBSE Guess Paper
Accountancy
Class - XII
1. Give two main sources of income of a ‘Not for Profit Organisations’. 1
2. What do you mean by ‘Registered Debentures’? 1
3. What are the features of Receipts and Payments Account? 1
4. Why is P & L appropriation A/c prepared by partnership firm? 1
5. Mention any two provisions of the Partnership Act, in the Absence of Partnership deed? 1
6. Write a note on minimum subscripiton? 2
7. List the vapious methods by which we can issue debenture? 2
8. From the following informations calculate the amount of subscriptions for the year 2008-09.
| subscriptions received during the year | 90000 |
| subscriptions outstanding 31 March 2008 | 20000 |
| subscriptions outstanding 31 March 2009 | 20000 |
| subscriptions received in advance on 31 March 2008 | 20000 |
| subscriptions received in advance on 31 March 2009 | 20000 |
subscription of Rs. 5000 are still in arrears for the year 2007-08. 3
9. The promising company ltd. Took over assets of rs 3,50,000 & liabilites of rs 30,000 of x ltd. For a purchase consideration of rs 3,30,000. The promising company ltd. Paid the purchase consideratio n by issuing 12% debenture of rs 100 each at 10 % premium. Give journal entries in the books of promising ltd. 3
10. AKS Ltd. purchased the business of PR Ltd. for a purchase consideration of Rs. 250,000. Assets of PR Ltd. were of value Rs. 180,000, whereas its liabilities were of value Rs. 40,000. PR Ltd. was issued 10%Debentures of Rs. 100 each at par for the same. Journalise in the books of AKS Ltd. 3
11. A & b are partners sharing profits in the ratio of 5:3. They admit c in the firm for 3/10th share in profit which he takes 2/10th from a & 1/10th from b. C brings rs 30,000 as premium in cash out of his share of rs 7,800. Goodwill a/c does not appear in the books of a & b. Give necessary journal entries in the books of the firm. 4
12. X, Y and Z were sharing in 3:2:1. The Balance Sheet as on 31/03/09 :-
| Liabilities | Amount(Rs.) | Assets | Amount(Rs.) |
| X’s Capital Y’s Capital Z’s Capital Reserves Creditors | 24,000 12,000 8,000 42,000 14,000 | Buildings Machinery Stock Debtors Cash at Bank | 36,000 46,000 5,100 6,000 6,900 |
| 100,000 | 100,000 |
X died on 30/09/07. Under the partnership agreement, the executors of deceased partner were entitled to :-
a) Amount standing to the credit of Partner’s Capital A/c.
b) Interest on capital @ 18% p.a.
c) Share of Goodwill on the basis of 4 years’ purchase of last three years average profit.
d) Share of profit from the closing of the last financial year to the date of death on the basis of last years’ profit. Profits for the year 2005,2006 and 2007 were Rs. 14,000, Rs. 6,000 and Rs. 7,000 respectively. Prepare X’s Capital A/c to be rendered to his executors. 4
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