Andhra Pradesh Board Class 12 Commerce Sample Papers 2011

MODEL QUESTION PAPER
COMMERCE  – Paper II
Time : 3 Hours                                                                       Max Marks : 100
Part  – A       (50 Marks)
                         
I.  Answer any two of the following questions not exceeding  40 lines
each.         :2x10=20 Marks
a) Explain Major functions of the Marketing.

b) What are the powers of District forum?

c) Define stock exchange and describe its function.

II.  Answer any four of the following questions not exceeding 20lines
each.                                                         4x5=20 Marks
a) Explain various principles of Insurance.

b) How is advertising useful to society?

c) Why Excise Duties are levied in India?

d) How speculation differs with gambling?

e) What are the characteristics of an efficient leader?

f) Describe any five characteristic features of a computer.

III Answer any five of the following questions not exceeding  5 lines
each.                             5x2=10 Marks
a) Insurable Interest
b) E-Commerce
c) Internet advertisement
d) What is state commission?
e) Letter of credit
f) Wash sales
g) Define time management
h) Brief note an central processing unit (C.P.U)

Part  – B       (50 Marks)

IV   Answer the following question          1x20 = 20 Marks
Rao and Raju  are carrying on business in a partnership, sharing
profit & loss in the ratio of 2:3.  Their Balance sheet as on 31-12-
2003 was as under.
Balance Sheet
Liabilities                                 Rs.                   As s e s t s             Rs .
Sundry creditors  =              25,000         Cash on hand            15,000
Capitals Accounts                                       Cash at Bank            10,000
Rao                                   1,40,000        Sundry Debtors             50,000
Raju  2,10,000      = 3,50,000 Stock                                             1,00,000
                                                                         Furniture                  25,000
                                                                         Buildings                1,75,000
__________                _________
                                        3,75,000                                                3,75,000
On that day they admitted Reddy into partnership and gave him ¼th 
share in the future profits on the following terms.

a) Reddy is to bring in Rs. 1,50,000 as his capital and Rs.50,000 as good will, which sum is to remain in the business.

b) Stock and furniture are to be reduced in value by 5%.

c) Buildings are to be appreciated by  Rs. 25,000.

d) A provision of 5% to be created on sundry debtor for
doubtful debts.

Write Journal entries to record the above arrangement and show the
opening Balance sheet of the new firm.

V  Answer any one of the following questions               1x10=10 Marks
a) Sharat of Guntur consigned 250 bales of Tobbaco  @ Rs. 270 per bale to Vijay of Vijayawada. Sharat paid cartage, freight etc  Rs. 1,500.  Sharat drew a bill on Vijay for 2 months for Rs.40,000.  Vijay soled the entire bales and rendered account sales showing that the goods realized Rs. 90,000/- out of which hededucted his charges amounting to Rs. 1,000 and his commission at 5%. Make entires and show necessary ledger accounts in the books of Sharat.
VI Answer any five of the following questions               5x2 =10 Marks
a) Noting charges.
b) Two reasons for depreciation
c) Red ink interest
d) What do you mean by an account current
e) Delecradary Commission
f) Rectify the following errors.
2. Purchase of Machinary Rs. 10,000 debited to
the purchase account.
3. Commission received Rs. 87 was debited to
that account as Rs. 78.
g) Define Capital Expenditure.
h) A & B are partners sharing profit in 7:3 ratio. 
They admitted C allowing share of 3/7 in the
profit. Calculate new profit sharing ratio of the
partners.
VII Answer any two of the following                            2x5=20 Marks
a) Explain various kinds of errors.
b) A bill of exchange for Rs. 5,000/- is drawn by Sarma on Varma
and accepted by the latter payable after 2 months, Sarma
endorsed the bill to his creditor, Naidu on the same day in full
settlement of his debt. On the due date the bill was dishonored. 
Pass necessary journal entries in the book of Sarma.
c) A company purchased a plant worth Rs. 50,000/ - on 31.3.2002,
depreciation is calculated @ 10% per annum under
Diminishing Balance  Method.  Show the Machinery account
upto 31.3.2004.
d) Calculate the Average Due Date of the following bills.
Date of Bill           Credit Period       Bill amount
                               (Months)
1s t January 2004      2                    Rs. 1000

28t hFebruary 2004    1                  Rs.   800

10t hMarch  2004        2                   Rs. 1500
The debtor has paid the total amount on 31s t  May 2004.  The
creditor charged interest at 10% per annum.  Calculate the amount
of interest on the amount.