12th A/c test question paper{practice}

 

CGBSE – Class 12

Accountancy (English Medium)

Time: 3 Hours
Maximum Marks: 80

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SECTION – A (1 × 8 = 8 Marks)

Answer the following questions in one word or one sentence:

1. What is meant by Partnership Deed?

2. Define Goodwill.

3. What is Revaluation Account?

4. What is Sacrifice Ratio?

5. What is Dissolution of Partnership?

6. What is meant by Issue of Shares at Premium?

7. Define Debenture.

8. What is Cash Flow Statement?

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SECTION – B (2 × 8 = 16 Marks)

Answer the following questions in about 30–40 words:

9. State any two features of Partnership.

10. Give two differences between Capital Reserve and Revenue Reserve.

11. State any two methods of valuation of Goodwill.

12. Write two differences between Shares and Debentures.

13. What is Forfeiture of Shares?

14. What is Interest on Drawings?

15. State two objectives of Financial Statements.

16. What is a Common Size Balance Sheet?

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SECTION – C (4 × 6 = 24 Marks)

Answer the following questions in about 80–100 words / Practical:

17. A and B are partners sharing profits in 3:2 ratio. They admit C for 1/5 share.
    Calculate New Profit Sharing Ratio and Sacrificing Ratio.

18. X and Y are partners sharing profits in equal ratio. Their capitals are ₹50,000 and ₹40,000.
    Interest on capital is allowed @10% p.a.
    Profit for the year is ₹20,000.
    Prepare Profit & Loss Appropriation Account.

19. Journalise the following:
    (a) 1,000 shares of ₹10 each issued at ₹2 premium.
    (b) All shares subscribed and money received.

20. Prepare Revaluation Account from the following:
    Increase in value of building ₹10,000
    Decrease in stock ₹5,000
    Outstanding salary ₹3,000

21. Calculate Cash Flow from Operating Activities:
    Net Profit ₹50,000
    Depreciation ₹10,000
    Increase in Debtors ₹5,000
    Decrease in Creditors ₹3,000

22. Pass journal entries for dissolution:
    Realisation expenses ₹2,000 paid
    Creditors ₹20,000 paid at ₹18,000

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SECTION – D (8 × 4 = 32 Marks)

Answer the following questions in detail:

23. A, B and C are partners sharing profits in 4:3:2 ratio.
    C retires. His share is acquired by A and B in 2:1 ratio.
    Calculate new profit sharing ratio.

24. A company issued 5,000 shares of ₹10 each at par.
    Amount payable:
    ₹3 on Application
    ₹4 on Allotment
    ₹3 on First & Final Call
    All money received except first & final call on 200 shares.
    Pass journal entries and show Share Capital Account.

25. From the following Balance Sheet, prepare Common Size Balance Sheet:

Share Capital – ₹2,00,000
Reserves – ₹50,000
Creditors – ₹30,000
Machinery – ₹1,50,000
Stock – ₹70,000
Debtors – ₹40,000
Cash – ₹20,000

26. Prepare Cash Flow Statement from the following Balance Sheets (simplified question with adjustments).

Question 26 (Complete)

From the following Balance Sheets of X Ltd., prepare a Cash Flow Statement for the year ended 31 March 2024:

Balance Sheet

Liabilities	31-3-2023 (₹)	31-3-2024 (₹)	Assets	31-3-2023 (₹)	31-3-2024 (₹)
Share Capital	2,00,000	2,50,000	Machinery	1,50,000	1,80,000
General Reserve	40,000	60,000	Building	1,00,000	90,000
Profit & Loss A/c	30,000	50,000	Stock	60,000	70,000
Creditors	50,000	40,000	Debtors	40,000	60,000
Outstanding Expenses	20,000	10,000	Cash	40,000	10,000
Total	3,40,000	4,10,000	Total	3,40,000	4,10,000

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Additional Information:

1. Depreciation on Machinery ₹10,000.

2. Building sold for ₹15,000.

3. Dividend ₹20,000 paid during the year.