CBSE Board Class 12 Accountancy Previous Year Question Papers 2005
CBSE Board Previous Year Question Papers 2005 for Class 12 Accountancy
Time 3 hrs M.M-80
Q1. Why should a new partner contribute towards Goo dwill on his admission? (1)
Q2. List any two contents of a partner ship deed?
Q3. Can a company issue a share having face value o f Rs 10 at Rs 8 (1).
Q4. Give two examples of ‘Capital receipts’ . (1)
Q5. Give two circumstances in which sacrificing rat io may be applied (1)
Q6. Show how you would deal with the following item s in the final accounts of a club: (3)
Prize fund Investments 1,20,000 1,20,000
Income from Prize fund Investments 12000
Prizes awarded 9000
Q7. A,B and C are partners sharing profits and los ses in the ratio of 1 : 2: 3. They have
omitted interest on capital @ 8% p.a. for two years ended 31
March, 2008. Their fixed
capitals were Rs. 400000, Rs 600000 and Rs 800000 r espectively. Pass the necessary
adjusting entry. (3)
Q8. Raghav limited purchased a running business fro m Krishna traders for a sum of Rs.
15,00,000 payble Rs 3,00,000 by cheque and for the balance issued 9% debentures of
Rs. 100 each at par. (3)
The assets and Liabilities consisted of the follow ing:
Plant and Machinery 400000
Sundry Debtors 300000
Sundry Creditors 200000
Record necessary journal entries in the books of R aghav Limited.
Q9. A and B are partners in a firm sharing profits in the ratio of 7:5. On April 1,2004 they
admit C as a new partner for (1/6)th share. The new ratio will be 13:7:4. C contributed
the following assets towards his capital and for hi s share of Goodwill.
Stock Rs. 60000; debtors RS 80000; Land 20000; Pla nt and Machinery Rs 120000. On
the date of admission of C, the Goodwill of the fir m was valued at Rs 750000. Record
necessary journal entries in the books of the firm on C’s admission and prepare C’s
Q10. CMC Ltd. Invited applications for issuing 1000 00 equity shares of Rs. 10 each at
a premium of Rs 3 per share. The whole amount was p ayable on application. The issue
was over subscribed by 30000 shares and allotment w as made on pro-rata basis. Pass
journal entries. (4)
Q11. X and Y are partners in a firm sharing profit s in 3:2 ratios. They admitted Z as a new
partner and the new profit- sharing ratio will be 2 :1:1.
Z brought Rs 10000 for the share of Goodwill. Goodw ill appeared in the books of X
and Y at Rs. 5000. Pass the necessary Journal entri es in the books of the new firm for
the above transactions. (4)
Q12. X Ltd. Made on issue of 2000. 15% debentures o f Rs. 100 each of these, debentures of
the face value of Rs. 50000 are to be redeemed annu ally commencing from 1996, either
by drawings at par or by purchase in the open mark et at the company’s option.
During 1996, the company purchased for cancellation of Rs 40000 debentures at Rs 95
and Rs 10000 debentures of Rs. 98. The expenses of purchases amounted to Rs. 500
Make necessary journal entries to be passed 1996.
Q13. From the following receipts and payments Accou nt of Sonic club and from the given
additional information prepare the expenditure on a ccount of salaries for the year ending 31
December,2006 and show the salaries item in the inc ome and expenditure Account and the
balance sheet as on 31
AN EXTRACT OF RECEIPTS AND PAYMENTS ACCOUNT
For the year ending 31
Receipts Rs Payments Rs
Additional Information Rs.
(i) Salaries outstanding on 31
(ii) Salaries outstanding on 31
(iii) Salaries paid in advance on 31
Dec,2005 10000 (6)
Q14. A,B and C were partners in a firm sharing prof its in the ratio of 5:3:2. On 31
2003 their Balance sheet was as under:
Liabilities Rs Assets Rs
A’s capital 30000
B’s capital 25000
C’s capital 150000
87000 Cash 8000
A died on 1
October, 2003. It was agreed between his executors and the remaining
a) Goodwill to be valued at 2and a half years purchase of the average profit of the
previous four years, which were :
2000:Rs.13, 000; 2001:Rs.12000; 2002:Rs.20, 000 and 2003:Rs.15, 000.
b) Patents be valued at Rs.8000 ; Machinery at Rs.2800 0; and buildings at Rs.25000.
c) Profit for the year 2003 to 2004 be taken as having accrued at the same rate as that of
d) Interest on capital be provided at ten percent p.a.
e) Half of the amount to A to be paid immediately to t he executor and the balance
transferred to his loan A/c.
Prepare A’s capital A/c as on 1
Q.15)Y Ltd.issued 10000 shares of Rs. 10 each at pa r.Amounts were due as follows :
Rs. 2.50 on application, Rs. 2.50 on allotment;
Rs. 3 on first call and Rs. 2 on final call.
A, holding 200 shares did not pay the amount due on allotment and first call;and his
shares were forfeited .
Final call was made after the forfeiture.B,holding 500shares failed
to pay the amount due on final call and his shares were also forfeited. Show the in the
Journal of the company. Also prepare the balance sh eet.
Pass necessary journal enteries in the books of Rom an Ltd. For the following
(1) 400 equity shares of Rs.100 each issued at a discou nt of 10% were forfeited
for the non-payment of final call of Rs. 20 per sha re .The forfeited shares wre
reissuied for Rs.38000 fully paid up.
(2) 300 equity shares of Rs.100 each were forfeited for the non- payment of the
allotment money of Rs. 40 per share.The first and f inal call of Rs. 20 per share
was not paid . The forfeited shares were reissued f or Rs. 29000 fully paid up.
Q16) X&Y share profits in the ratio of 3:1.Their ba lance sheet as on 31
December,1996,was as under : National Network of Education
Copyright 2010 National Network of Education
Pragati Infosoft Pvt. Ltd.
Liabilities Rs. Assets Rs.
Sundry Debtors 24000
Less provision 800
D & L A/c
Z is admitted into partenership on the following te rms:-
(i) Fixed assets are to be depreciated by 20 % .
(ii)Provision for doubtful debts should remain at 5 % on debtors.
(iii)The new profit sharing ratio will be 5:3:2.
(iv)Z will pay Rs. 20,000 as capital and the capita ls of old partner will be adjusted
on the basis of new partners capital and his share in the business, actual cash to be
brought in oo withdrawn by old partners, as the cas e may be .
(v)Goodwill of the form is valued at Rs. 20000. Pre pare capital Accounts and the
balance sheet of the new firm. (8 marks)
P,Q and R sharing profits and losses equally with e ffect from 1
Following is an extract of their Balancs sheet as a t 31
Liabilities Rs Assets Rs
Investment fluctuation 30000 Investments(At last) 500000
Show the accounting treatment under the following a lternative cases:-
Case(i) If there is no other information
Case(ii) If the market value of Investment is: Rs 5 00000
Case(iii) If the market value of investment is Rs. 488000.
Q17 Give two examples of non-cash transactions.
Q18. State the two advantage of financial statem ent analysis. (1)
Q19 Define cash equivalents. (1)
20. The following figures use extracted from the trial balance of x Ltd:
Share capital: 10,000 Equity share of Rs.10 each fu lly paid.
You are required to draw up the liability side of t he Balance sheet according
requirement of the companies Act. (3)
21. Prepare a comman size Balance sheet of x Ltd.& Y Ltd as on 31st March
2007; The Balance sheet of Kewal Ltd. As on 31 st ,2006 and 31 st
Decmber ,2006 were as follows:
Liabilities X Ltd(Rs) Y Ltd(Rs) Assets X Ltd (Rs) Y Ltd.(Rs)
15,00,000 18,00,000 15,00,000 18,00,000
22. calculate Debtors turnover ratio : (4)
Opening Debtors 30,000
Received from Debtors 2,10,000
Closing Debtors 45,000
Sales return 15,000
23. The following balance appeared in the balance sheet of P.K.Ltd.
Plant and Machinery 48,00,000 65,40,000
Proposed Divided 80,000 90,000
Additional Information :
(i)Plant and Machinery costing Rs 12,80,000 accumul ated depreciation there
on Rs 5,30,000 was sold at a loss of Rs 2,60,000.
(ii) Dividend provided during the year Rs 95,000.
You are required to compute :
(a) The amount of plant and Machinery purchased, sold and depreciation
charged for the year.
(b) Dividend paid during the year.
(c) How each of the item related to plant & machinery a nd dividend will be
recorded in the cash flow statement.
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