Board : Central Board Of Secondary Education
Exam :AISSCE Accountancy
Document Type : Question Paper
Website : cbse.nic.in
Download Previous/ Old Question Papers : https://www.pdfquestion.in/uploads/6642-Accountancy_Code_%20No_67.pdf
Accountancy Sample Question Paper :
Class – XII
Set – I
Time Allowed – 3 Hrs.
Max. Marks – 80
Related : Central Board Of Secondary Education AISSCE Sociology Question Paper : www.pdfquestion.in/6641.html
General Instructions :-
1. This question paper contains three parts A, B and C.
2. Part A is compulsory for all .
3. Attempt only one part of the remaining parts B and C.
4. All parts of questions should be attempted at one place.
Part A :
Accounting for Not-for-Profit Organisations, Partnership Firms
1. Not-for-profit organisations have some distinguishing features f
2. Alka, Barkha and Charu are partners in a firm having no partnership
3. Give the formula for calculating ‘gaining share’ of a partner in a partne
4. Pawan and Jayshree are partners. Bindu is admitted for 1/4th share.
What is the ratio in which Pawan and Jayshree will sacrifice their share
5. What is meant by ‘Convertible debentures’? (1)
6. Show the following information in the Balance Sheet of the Cosmos
7. Shubh Limited has the following balances appearing in its Balance Sheet :
8. 20,000 Shares of Rs. 10 each were issued for public subscription at a premium
9. A, B and C are partners in a firm. They have omitted interest on capital
10. X, Y and Z were sharing profits and losses in the ratio of 5 :3:2.
(i) Profit and Loss Account Rs. 24,000
(ii) Advertisement Suspense Account Rs. 12,000
11. Vinod Ltd. decided to redeem Rs. 50,000, 10% debentures
12. (a) Raghav Limited purchased a running business from Krishna Traders
(b) On 1st January, 2004, Rhythm Limited issued 1,000 10% debentures
13. From the following Receipts and Payments Account of Sonic Club
(a) The club had received Rs. 20,000 for subscription in 2005 for 2006.
(b) Salaries had been paid only for 11 months
(c) Stock of Sports Equipment on 31st December, 2005 was Rs. 3,00,000
14. Ram, Mohan and Sohan were partners sharing profits and losses
(i) Goodwill of the firm is to be valued at Rs. 1,75,000.
(ii) Machinery be valued at Rs. 1,40,000; Patents at Rs. 40,000; Leasehold
(iii) For the purpose of calculating Sohan’s share in the profits of 2006-07,
15. Srijan Limited issued Rs. 10,00,000 new capital divided into Rs. 100
Part-B :
Financial Statement Analysis
17. X Ltd. has a Debt Equity Ratio at 3 :
18. State whether cash deposited in bank will result
19. Interest received by a finance company is classified under
20. Show the major headings into which the liabilities side of a Company’s
21. Prepare a Comparative Income Statement with the help
22. Following is the Balance Sheet of X Ltd. as on 31st March, 2008 :
23. From the following balance sheets of ABC Ltd., Find out cash
*Debentures were issued on 31.3.2007.
*Investments were made on 31.3.2007. (6)
Accountancy Syllabus :
Objectives :
** to familiarize the students with accounting as an information system;
** to acquaint the students with basic concepts of accounting and accounting standards;
** to develop the skills of using accounting equation in processing business transactions;
** to develop an understanding about recording of business transactions and preparation of financial statements;
** to enable the students with accounting for reconstitution and dissolution of partnership firms;
** to enable the students to understand and analyse the financial statements; and
** to familiarize students with the fundamentals of computerized system of accounting.
Introduction to Accounting :
** Accounting- concept, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs.
** Basic accounting terms: business transaction, account, capital, drawings, liabilities (non – current and current); assets (non-current and current) fixed assets (tangible and intangible assets), receipts (capital and revenue), expenditure (capital, revenue and deferred), expense, income, profits, gains and losses, purchases, purchases returns, sales, sales return, goods, stock, inventory, trade receivables (debtors and bills receivable), trade payables (creditors and bills payable), cost, vouchers, discount – trade and cash. Theory Base of Accounting 14 Periods
** Fundamental accounting assumptions: going concern, consistency and accrual.
** Accounting principles: accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost concept, matching concept and dual aspect.
** Accounting Standards and IFRS (International Financial Reporting Standards): concept and objectives
** Double entry system of accounting.
** Bases of accounting – cash basis and accrual basis.