CBSE Class 12 Accountancy Question Paper 2016 Set 3 Delhi

CBSE Class 12 Accountancy Question Paper 2016 Set 3 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.

Accountancy

1)Nusrat and Sonu were partners in a firm sharing profits in the ratio of 3:2. During the  year ended 31-3-2015 Nusrat had withdrawn Rs.15,000. Interest on her drawings amounted to RS. 300. Pass necessary journal entry for charging interest on drawings assuming that the capitals of the partners were fixed.

2)On 1-1-2016 the first call of Rs. 3 per share became due on 1,00,000 equity shares issued by Kamini Ltd. Karan a holder of 500 shares did not pay the first call money. Arjun a shareholder holding 1000 shares paid the second and final call of Rs.5 per share along with the first call. Pass the necessary journal entry for the amount received by opening ‘Calls-inarrears’ and ‘Calls-in-advance’ account in the books of the company.

3)State the provisions of the Companies Act, 2013 for the creation of ‘Debenture  Redemption Reserve’.

4)Distinguish between ‘Dissolution of Partnership’ and ‘Dissolution of Partnership Firm’ on the basis of ‘Economic Relationship’.

5)A, B and C were partners in a firm sharing profits in the ratio of 3:2:1. They admitted D as a new partner for 1/8th share in the profits, which he acquired 1/16th from B and 1/16th from C. Calculate the new profit sharing ratio of A, B, C and D.

6)What is the maximum number of partners that a partnership firm can have ? Name the Act that provides for the maximum number of partners in a partnership firm.

7)To provide employment to the youth and to develop the Naxal affected backward areas of Chattisgarh. X Ltd. decided to set-up a power plant. For raising funds the company decided to issue 7,50,000 equity shares of  Rs.10 each at a premium of 50%. The whole amount was payable on application. Applications for 20,00,000 shares were received. Applications for 50,000 shares were rejected and shares were allotted to the remaining applicants on pro-rata basis. Pass necessary journal entries for the above transactions in the books of the company and identify any two values which X Ltd. wants to propagate.

Please click below link CBSE Class 12 Accountancy Question Paper 2016 Set 3.