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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How to download CBSE Class 12 Accountancy Sample Paper 2017 Set D in PDF?
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 understand the way sample Paper are set by teachers. 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. 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. You can download CBSE Class 12 Accountancy Sample Paper and Class 12 Accountancy Question Papers in PDF. 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.
Why should you solve CBSE Class 12 Accountancy Sample Paper 2017 Set D?
a) This is new Set from Class 12 Accountancy Sample Papers and has questions which are different from other sets.
b) As you will do more sets and also refer to Class 12 Accountancy Question Papers, then it will help you understand the type of questions asked in exams.
d) Compare your score of each set to understand your weak areas in Class 12 Accountancy.
e) Solving this paper which also has MCQ questions for Class 12 Accountancy will make you faster and better at answering questions.
What should you do after solving CBSE Class 12 Accountancy Sample Paper 2017 Set D?
a) Check your answers with the solutions given in the downloaded sample paper in PDF of Class 12 Accountancy.
b) Class 12 students should try to find where you made mistakes and learn from them.
c) If a question was hard, read the concepts in NCERT book for Class 12 Accountancy and then practice it again to get better.
d) Solve more sets of sample papers for Class 12 Accountancy to improve even more.
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