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ACCOUNTANCY

Class :XII B
Time: 2 Hr Marks : 50

Each Question carry one mark :-
1 How an unrecorded assets is treated which is sold at the time of dissolution?
2 Why partners loan is not transferred to Realization a/c
3 When realization expenses are paid by a partner, which account should be
credited?
4 which account is debited when assets are sold for cash?
5 Name the part of Authorised capital offered to public for subscription
6 What is the Name given to person who holds share of company?
Each Question Carry three Marks
7 X, Y and Z are partners in a firm. They decided to dissolve the firm. Give
journal entries if a computer which was completely written off from books:
1 Realized Rs. 5,200
2 taken over by B at Rs. 4500
8 A ,B and C were partners in a firm sharing profits and losses in the ratio of
2:2:1. They decided to dissolve their firm on 31
st
dec 2012. On that date
profit and loss account showed a debit balance of Rs 2,00,000 and general
reserve showed a balance of Rs 3,00,000 pass necessary journal entries.
9. Zec company ltd. Invited application for 5000 shares of the value of Rs 20
each . The amount of payable as Rs 5 on application as Rs 7 on Allotment
and balance as and when required . The whole of above issue was applied
for and cash duly received . Give the journal entries for the above
transactions.
10. On 1.1.2013 Z ltd. Received in advance the first call of Rs 3 per share on
10000 equity shares. The first call was due on 01.04.2013. The subscribed
capital was 50,000 share of Rs 20 each. Journalese the above transition.
11 P ltd invited application for 8000 equity shares of Rs 10 each at a premium
of Rs 4 per share . The whole amount was payable on application . Issued
was fully subscribed . Pass necessary journal entries. Also shows the balance
sheet. (1x4=4)
Each question carry 6 marks
12. Anjaly ltd issued 10000 shares @ Rs10 at a premium of Rs2.5 per share
payable as follows
Rs4 on application
Rs 3.5 on Allotment (including premium)
Rs 2 on first call and the balance as and when required.
Applications were received for 12000 shares .Full allotment was made to
10000shares, 2000shares were rejected and money was refunded to them
.All money due was duly received with exceptions of 150 shares on first call
Journlise.
13. What journal entries would be passed for the following transaction on the
dissolution of a firm , after various assets( other than cash) and third parties
liabilities have been transferred to realisation account ?
1. A took over the stock worth Rs 80,000
2. Firm paid Rs 40000 as compensation to employees
3. Sundry creditors amount to Rs 36000 which was settled at a discount of
15%
4. There was on unrecorded Bike of Rs 40,000 which was taken over by B at
Rs 30,000
5. Profit on retaliation of Rs 42,000 was to be distributed between A and B in
the ratio of 4:3
Each questions carry eight marks
14. Black, White and Brown are partners sharing as 2:1:1 . On 31
st
March 2012
the firm was decided to be dissolve their balance sheet stood as follows
Balance sheet
As at 31
st
March 2012
Liabilities Amount Assets Amount
Bill Payable
Bank loan
Capitals
Black:24800
White :12400
Brown:12400
8000
2400


49600
Bank
Debtors 25000
Less provision 1000
Inventory
Furniture
Land
4000

24000
10000
2000
20000
60,000 60,000
It was agreed that
i. Inventory is taken over by Black at Rs 9000
ii. White took debtors of Rs 23000 and took the responsibility of
discharging the Bank Loan
iii. Other assets released as follows
Land Rs 18000
Furniture Rs 3500
iv. Bills payable were settle for Rs 7600
v. Realization expenses were Rs 400 show realization account, partners
capital accounts and bank account
15. R Ltd invited applications for 2000 equity shares of Rs 100 each, payable as
follows
Rs 25 on application
Rs40 in Allotment
Rs 35 on First and final call
Applications were received for 2500 shares It was decided to allot the
shares as under
A. who applied for 500 shares was allotted 300 shares
B. Who applied 1200 shares, was allocated 1000 shares
C. Who applied for 800 shares was allotted 700 shares.
All money was received except1 from B who did not pay anything
after application.
Accountancy
Class : XI Time : 2 Marks
Time : 2 Hr
1. What is meant by journal
2. Define ledger
3. Give one objective of accountancy (3x1=3)
4. What do you meant by contra entry? How will you deal contra entry while
preparing Double column cash bank Give examples (3)
5. State the accounts to be debited or credited in the following transactions
a) Purchased furniture from Mohit on credit
b) Cash deposited into bank
c) Paid rent by cheque
d) Paid interest on Loan (4)
6. State any three limitations of trail balance (3)
7. Following is the list of account, find out which are assets, liabilities, Capital,
revenue and expenses
1 Machinery 2. Mohan (proprietor)
3. Interest received 4. Bank over draft
5. Unsold stock 6. Furniture
7. Sales 8. Purchases (4)
8. Enter the following transactions in two column cash book and find out the
cash and bank balance 2006
Jan 1. Started business with cash Rs. 20,000
Jan 2. Openel a current account Rs.8,000
Jan3. Bought goods by cheque Rs. 150
Jan4.Recieved cheque from Ram Rs. 200
Jan5. Sold goods for Cash rs.40
Jan 7 Paid into bank:
(i)Cash Rs 30
(ii) cheque Rs 200
Jan 8.Paid shyam by cheque Rs.345
Jan8. Paid carriage by cheque Rs. 180
Jan10. Drew cash from bank for office use Rs.200
Jan.30. Paid wages by cheque Rs.60 (5)
9. Verma Bros carry on business as wholesale cloth dealers. From the following
transactions write up a purchase book:
2006
April 1 Bought from M/s Birla Mills on credit
100 pieces long cloth @ Rs80
50 pieces shirting @Rs.100
April 8 purchased for cash from M/s Ambika Mills
50pieces muslin @ Rs 120
April 15 purchased on credit from M/s Aravind Mills
20 pieces coating @Rs.1000
10 pieces shirting @Rs. 90
April 20 purchased 5typewriters on credit from M/s Bharath Type writers
Ltd @Rs 1400/- each. (4)







10.The following Trail balance has ben prepared by a nearly appointed accountant.
You are required to prepare the Trail Balance in a correct form
SL No Name of Accounts LF Debit Credit
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Cash in hand
Fixed assets
Capital
Purchase
Sails
Discount allowed
Return onward
Return outward
Wages
Debtors
Creditors
Drawings
Discount received
Bills Received
Bill payable
Rent
Interest paid

55000


60000
35000


1000
800
20,000



5000

200

40000
144200


250
2500



16000
15000
100

28,00

350

Total 1,77,000 2,21,200
(7)
11. Enter the following transactions in Sales Book and post them into Ledger
2005
January 4 Sold goods to Gupta & Co on credit Rs 50,000 at 5% discount
January 14 Sold goods for cash to Mohan for Rs 8000
January 22 Sold goods to Ajay of the list price of Rs 65,000 at trade discount
of 10% ( 7)
12. Journilise the following transaction 2005
Mar 1 Manish commenced business with cash 1,00,000
Mar 3 Purchased goods for cash 60,000
Mar 5 Furniture purchased for cash 12000
Mar 7 Sold goods to Rakesh for 15000
Mar 9 Rakesh returned goods for 4500
Mar 13 Purchased goods : from Ali 22000
From Keshav 38000
Mar 15 Returned goods to Keshav 7,000
Mar. 17 Paid cash to Keshav in full settlement of their
account after deducting 5% cash discount
Mar.19 Sold goods for cash 22,000
Mar. 20 Manish withdrew from business for his personal use 15,000
Mar. 22 Paid to Ali 20,000
Discount received 1,000
Mar. 24 Sold goods for cash to Leena 90,000
Mar. 26 Paid for rent 600
Mar. 31 Received for commission 1,500
(10)