Read and download PDF of CBSE Class 12 Accountancy Sample Paper 2017 Set D designed as per the latest curriculum and examination pattern for Class 12 issued by CBSE, NCERT and KVS. The latest Class 12 Accountancy Sample Papers have been provided with solutions so that the students can solve these practice papers and then compare their answers. This will help them to identify mistakes and improvement areas in Accountancy Class 12 which they need to study more to get better marks in Class 12 exams. After solving these guess papers also refer to solved Class 12 Accountancy Question Papers available on our website to build strong understanding of the subject
Sample Paper for Class 12 Accountancy Pdf
Students can refer to the below Class 12 Accountancy Sample Paper designed to help students understand the pattern of questions that will be asked in Class 12 exams. Please download CBSE Class 12 Accountancy Sample Paper 2017 Set D
Accountancy Class 12 Sample Paper
PART A
ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES
Q1. A, B and C are the partners sharing profits and losses in the ratio of 5:3:2. C retired and his capital balance after adjustments regarding Reserves, Accumulated profits/ losses and gain/loss on revaluation was RS. 2,50,000. C was paid RS.3,00,000 in full settlement. Afterwards D was admitted for 1/4thshare . Calculate the amount of goodwill premium brought by D.
Sol: Goodwill share of C= RS. 3,00,000 - RS. 2,50,000 = RS. 50,000
Firm’s Goodwill= RS. 50,000x10/2= RS. 2,50,000
D’s share in Goodwill= RS. 2,50,000x1/4 = RS. 62,500
Q2. A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were RS. 3,85,000 and RS. 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C.
Sol: Combined capital of A and B = RS. 3,85,000 + RS. 4,15,000 = RS. 8,00,000 C’s Share= 1/5th of total capital
Remaining share = 1-1/5=4/5 4/5 = RS. 8,00,000
C’s capital = RS. 8,00,000x5/4x1/5 = RS. 2,00,000
Q3. A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is RS. 2,50,000. (1) The total interest on partner’s drawing is RS. 4,000. A’s salary is RS. 4,000 per quarter and B’s salary is RS. 40,000 per annum. Calculate the net profit/loss earned during the year.
Sol. Net Profit during the year = Divisible profits + Salary to partners – Interest on Drawings
= RS. 2,50,000 + RS. 16,000 + RS. 40,000 – RS. 4000 = RS. 3,02,000
Q4. ABC Ltd. Purchased for cancellation its own RS. 5,000, 9% Debentures of 100 each for 95 per debenture. The brokerage charges 15,000 were incurred. Calculate the amount to be transferred to capital reserve.
Sol. Amount paid for RS. 5,000 Debentures= RS. 4,75,000 + RS. 15,000 = RS. 4,90,000 The nominal value of debentures to be redemption/cancelled = RS. 5,00,000 Amount of profit on redemption to be transferred to capital reserve = RS. 5,00,000 - RS. 4,90,000= 10,000
Q5. A Ltd forfeited a share of 100 issued at a premium of 20% for non-payment of first call of 30 per share and final call of 10 per share. State the minimum price at which this share can be reissued.
Sol. Minimum price at which shares can be reissued = 100 – 60 = 40
Q6. A group of 60 persons want to form a partnership business in India. Can they do so? Give reason in support of your answer.
Sol. No, Maximum no. of partners as per The Companies Misc. Rule, 2014 is 50 persons.
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Sample Paper Accountancy Class 12
We hope you liked the above provided CBSE Class 12 Accountancy Sample Paper 2017 Set D. To get an understanding of the type of questions which were asked in exams, it is important for Class 12 students to refer to CBSE Class 12 Accountancy Sample Paper 2017 Set D that we have provided above. Students can download the Sample Paper for Class 12 Accountancy which will be coming in the exams so that you can practise them and solve all types of questions that can be asked in exams. If you do CBSE Class 12 Accountancy Sample Paper 2017 Set D for Class 12 Accountancy you will easily understand the way examination Sample Paper are set by teachers.
Class 12 Accountancy Sample Paper
The latest Sample Paper CBSE Class 12 Accountancy Sample Paper 2017 Set D covers all the topics which have been suggested by CBSE in their Class 12 Accountancy syllabus for the current year. By doing CBSE Class 12 Accountancy Sample Paper 2017 Set D you will understand the regular questions and MCQ questions for Class 12 Accountancy which are always asked and learn them so that you can get full marks in those questions.
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Accountancy Sample Paper Class 12 with Solutions
We have provided CBSE Class 12 Accountancy Sample Paper 2017 Set D with solutions. You will be able to understand the type of answers which you should write in Class 12 Accountancy exams to score good marks. You should attempt all the last year question paper for Class 12 and Class 12 Accountancy MCQ Test in examination conditions at home and then compare their answers with the solutions provided by our teachers. This way you will be able to identify your weak areas and also understand how the teachers of Class 12 Accountancy set their questions in the exams.
CBSE Class 12 Accountancy Sample Paper with solutions
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