KENDRIYA VIDYALAYA SANGATHAN

CHANDIGARH REGION

SAMPLE PAPER ACCOUNTANCY

CLASS XII
Q1.
Q2.
Q3.
Q4.
Q5.
Q6.
Q7.
Q8.
Q9.
Q10.
Q11
Q12
Q13.
Q14.

Q15.
Q16.

Q17.
Q18.

The donation made by a person at will to the not for profit organisation is called as
______________
(1)
The amount paid to the outsiders for services rendered by them to the Not-for-profit
organization is called ______________
(1)
At the time of forfeature, the share capital a/c is debit with the amount ____
(1)
Receipt and payment a/c is a summary of which a/c
(1)
Partners providing loan to the firm are entitled to interest on their loan @___
(1)
Which a/c is prepared to show the effect of revaluation of assets and liabilities?
(1)
Sacrificing ratio is equal to ________
(1)
Executors a/c is prepared when a partners ___________
(1)
Define Partnership.
(3)
A and B are partners with profit sharing ratio if 3:1 They admitted C for 1/10 share in
profit, calculate new profit sharing ratio.
(3)
What do you mean by forfeiture of share.
(3)
Explain briefly the issue of share for consideration other than cash.
(3)
B Ltd. Issued 10,000 share of Rs 10/- each at a premium of Rs 2. Payable as Rs 2 on
application , Rs 5 on allotment Rs 3 on Ist call and balance on final call .
Pass necessary Journal entries in the book of B Ltd.
(4)
Pass journal entries in the following case (2 + 2) (4)
A)
2000, 12% Debentures of Rs 100. each issued as collateral security.
b)
Purchased Machinery Rs 1,65,000. The vendors over paid by issuing
12% Debentures of Rs 100/- each at 10% premium.
Differentiate between fixed capital and fluctuating capital methods on the basis of
1) Change in capital,
2) Number of Accounts
3) Recording of Transaction
4) Balance of capital a/c.
(4)
A, B and C are partners. This profit sharing ratio is 2:3:5 and capitals were Rs
15,00,000, Rs 30,00,000 & Rs 60,00,000. The interest for the year was credited
to them @ 12 % p.a. instead of 10% p.a. Pass adjustment journal entry and show
your calculation Cleary.
(2 + 2) (4)
Distinguish between sacrificing ratio and gaining ratio on the basis of Meaning,
Time, Effect and Formula.
(4)
A and B were partners with profit sharing ratio of 2:1. The admitted C. the new profit
sharing was agreed at 3:2:1. The balance on the date of Cs admission is ____________ (6)
Liabilities
Amount
Assets
Creditors
20,000
Debtors
40,000
Bills payable
15,000
Less Provision -3,600 36,400
Reserve fund
12,000
Stock
20,000
Capitals A-40,000
Building
25,000
B 30,000
70,000
Patents
2,000
______
Machine
33,600
1,17,000
1,17,000

Other information is
1) C brings Rs 19,000 for capital & 10000 for Good will in cash
2) Provisions for Doubtful debit be reduced by Rs 2400
3) An old type writer of Rs 2600 did not appear in the books. Now it is to be recorded.
4) Patents are valueless.
Prepare revaluation a/c, capital a/c and new balance sheet.
Q19

Q20

A, B and C were partners, Their profit sharing ratio was 3:2:1. B retired on 31
Dec. 2006. on the following terms(6)
a)
Building be appreciated by Rs 7,000
b)
Provision for doubtful debts be created @ 5% on Debtors.
c)
Goodwill of the firm is valued at Rs 18,000 and adjustment be made in the continuing
partners capital a/c
d)
Rs 3,000 be paid immediately of B and balance be transferred to this loan a/c.
Balance sheet as on 31. Dec. 2006
Liabilities
Amount
Assets
Amount
Creditors
13,590
Cash
4,700
Capitals
Debtors
8,000
A
15,000
Stock
11,690
B
10,000
Building
23,000
C
10,000
P/c a/c
1,200
48,590
48,590
Prepare Revaluation a/c, Capital a/c & New Balance Sheet.
The following was the balance sheet of D,E & F as on 31.12.06
(6)
Liabilities
Amount
Assets
Amount
Creditors
19,000
Tools
2,000
Reserve Fund
8,000
Furniture
20,000
Capitals
Stock
18,000
D
30,000
Debtors
35,000
E
25,000
Cash
17,000
F
25,000 80,000
Bank
15,000
1,07,000
1,07,000

E died on 31 March 07. Under the agreement, E was entitled:a)

To amount standing to credit of his capital a/c
b)
To Interest on capital this amounted to Rs 750.
c)
His Share of Goodwill Rs 15,000
d)
His share of profit from closing of last financial year to the date of his
death which amounted to Rs 5,250. E,s executor was Rs 16,000 on Ist April 07
and balance in four equal yearly installments starting from 31.3.06 with interest
@ 6% p.a. prepare Es a/c and Es Executor and till it is finally paid.
Q26. X Ltd. Invited applications for 1,00,000 shares of Rs 10 each, payable as Rs 2
on application, Rs 3 on allotment and balance on first and final call. Application were
received for 3,00,000 shares. Allotment was made on pro-rata basis and excess money
was adjusted on allotment only. Mr. M who had applied for 3,000 shares failed to pay
the call money, So his shares were forfeited and reissued at Rs 8 per share fully paid up.
Pass necessary journal entries.
(6)

Q27. From the following Receipts and payment all of a club prepare income expenditure
a/c and balance sheet as on 31 Dec. 2006
Receipts
Rs
Payments
Rs
To balance b/d
1,025
By salaries
600
To subscription
By Expenses
75
2005
40
By Drama Expenses 450
2006
2,050
By News papers
150
2007
60
2,150
By Municipal Taxes
40
To donations
540
By charity
350
To proceeds to Drama ticket
950
By Investment
2,000
To sale of waste paper
45
By Electric Charges
145
By Balance a/c
900
----------------4,170
4,170
Additional Informationa) There are 500 members Annual subscription is Rs 5 each Rs 50 are still in arrears
for the year 2005.
b) Municipal Tax of Rs 40 per year has been paid upto 31 March 2006 and Rs 50 are
outstanding for salaries.
c) Building stands in the books at Rs 5,000
d) 6% interest has accrued on investment for 5 months.
Or
What are special features of Not-for profit organization.
Q23. On 31 December 2006, a company had the following(8)
11% Debentures
Rs 3,00,000
Debentures Redemption fund
Rs 3,10,000
Debenture Redemption fund Investment
(Face Value Rs 3,30,000)
Rs 3,10,000
Securities premium a/c
Rs 27,000
On the above date, the investments were sold at 95% and the debentures were reduced
at 3% premium. Prepare necessary accounts.
OR
What do you mean by debentures? A company authorized its Rs 1,10,000 debentures
holders to convert them into preference shares. Pass necessary journal entries if,
a)
Debentures were converted into preference shares of Rs 100 each at par.
b)
Debentures were converted into preference shares of Rs 100 each at a premium of 10%
c)
Debentures were converted into preference shares of Rs 100 each at a discount of 10%.