CBSE Class 12 Accountancy Question Paper 2007 (2)

CBSE Class 12 Accountancy Question Paper 2007 (2). Students can download the last year question papers using the link below. Free download of examination question papers with solutions.Last 10 year question papers should be practised to get better marks in examinations.

PART-A

1.List any four factors that help in the creation of goodwill of a partnership firm.

2. Give the meaning of ‘Authorised Capital’.

3. What is meant by ‘Preferential Allotment of Shares’ ?

4. Give any two points of distinction between a share and a debenture.

5. Jain and Gupta were partners in a firm sharing profits in 3 : 2 ratio. Their fixed capitals were Jain Rs. 1,00,000 and Gupta Rs. 1,50,000. After the accounts of the year had been closed it was discovered that interest on capital at 10% per annum as provided in the partnership agreement has not been credited to the capital accounts of the partners before distribution of profits. Pass the necessary journal entry to rectify the error.

6. Pass necessary journal entries for the issue of 7% debentures in the following cases :

(i) 100 debentures of Rs. 100 each issued at Rs. 105 each repayable at Rs. 100 each.

(ii) 100 debentures of Rs. 100 each issued at Rs. 100 each repayable at Rs. 105 each.

(iii) 100 debentures of Rs. 100 each issued at Rs. 105 each repayable at Rs. 108 each.

7. Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi as a new partner and the new profit sharing ratio will be 2:1:1. Sarthi brought Rs. 10,000 for her share of goodwill. Goodwill already appeared in the books of Arti and Bharti at Rs. 5,000.

Pass necessary journal entries in the books of the new firm for the above transactions.

8. What journal entries would be passed for the following transactions on the dissolution of a partnership firm, after transferring various assets (other than cash) and third party liabilities to the Realisation Account ?

(i) Bank loan Rs. 50,000 was paid.

(ii) An unrecorded asset realised Rs. 17,000.

(iii) Stock worth Rs 20,000 was taken over by a partner Rohan for Rs. 14,000.

(iv) Loss on realisation was Rs. 14,000, which was distributed between the partners

Rohan and Mohan in the ratio of 3 : 2.

Please click the link below to download pdf file of CBSE Class 12 Accountancy Question Paper 2007 (2).