CBSE Class 12 Accountancy Sample Paper 2017 Set 05

Accountancy
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Official CBSE Practice Papers for Class 12 Accountancy

Explore authentic exam practice materials through the CBSE Class 12 Accountancy Sample Paper 2017 Set 05. Tailored for Class 12 learners, utilizing these Accountancy sample papers ensures thorough preparation and strengthens time management skills before final CBSE evaluations.

Solved Model Papers for Accountancy

Access the complete sample paper PDF for Class 12 Accountancy below. Regular practice with these targeted mock exams builds familiarity with expected question patterns and chapter weightage to help secure higher marks.

PART A: ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES

1. Any change in the relationship of existing partners which results in an end of the existing agreement and enforces making of a new agreement is called
(a) Revaluation of partnership.
(b) Reconstitution of partnership.
(c) Realization of partnership.
(d) None of the above. 
 
2. Karan, Nakul and Asha were partners in a firm sharing profits and losses in the ratio 3:2:1. At the time of admission of a partner, the goodwill of the firm was valued at ‘2,00,000. The accountant of the firm passed the entry in the books of accounts and thereafter showed goodwill at ‘2,00,000 as an asset in the Balance Sheet. Was he correct in doing so? Why? 
 
3. Anu, Bina and Charan are partners. The firm had given a loan of ‘20,000 to Bina. They decided to dissolve the firm. In the event of dissolution, the loan will be settled by:
(a) Transferring it to debit side of Realization account.
(b) Transferring it to credit side of Realization account.
(c) Transferring it to debit side of Bina’s capital account.
(d) Bina paying Anu and Charan privately. 
 
4. Differentiate between ‘Capital Reserve’ and ‘Reserve Capital’. 
 
5. Metacaf Ltd. issued 50,000 shares of ‘ 100 each payable ‘20 on application (on 1st May 2012);‘30 on allotment (on 1st January 2013); ‘20 on first call (on 1st July 2013) and the balance on final call (on 1st February 2014). Shankar, a shareholder holding 5,000 shares did not pay the first call on the due date. The second call was made and Shankar paid the first call amount along with the second call. All sums due were received. Total amount received on 1st February was:
(a) ‘15,00,000
(b) ‘16,00,000
(c) ‘10,00,000
(d) ‘11,00,000 
 
6. Abha and Beena were partners sharing profits and losses in the ratio of 3:2. On April 1st 2013, they decided to admit Chanda for 1/5th share in the profits. They had a reserve of ‘25,000 which they wanted to show in their new balance sheet. Chanda agreed and the necessary adjustments were made in the books. On October 1st 2013, Abha met with an accident and died. Beena and Chanda decided to admit Abha’s daughter Fiza in their partnership, who agreed to bring ‘2,00,000 as capital. Calculate Abha’s share in the reserve on the date of her death. 
 
7. State any three purposes for which securities premium can be utilized. 
 
8. Ankur and Bobby were into the business of providing software solutions in India. They were sharing profits and losses in the ratio 3:2. They admitted Rohit for a 1/5 share in the firm. Rohit, an alumni of IIT, Chennai would help them to expand their business to various South African countries where he had been working earlier. Rohit is guaranteed a minimum profit of ‘2,00,000 for the year. Any deficiency in Rohit’s share is to be borne by Ankur and Bobby in the ratio 4:1. Losses for the year were ‘10,00,000. Pass the necessary journal entries
 
9. Newbie Ltd. was registered with an authorized capital of ‘5,00,000 divided into 50,000 equity shares of ‘10 each. Since the economy was in robust shape, the company decided to offer to the public for subscription 30,000 equity shares of ‘10 each at a premium of ‘20 per share.
Applications for 28,000 shares were received and allotment was made to all the applicants. All calls were made and duly received except the final call of ‘ 2 per share on 200 shares. Show the ‘Share Capital’ in the Balance Sheet of Newbie Ltd.as per Schedule VI of the Companies Act 1956. Also prepare Notes to Accounts for the same. 
 
10. Drumbeats Ltd. had a prosperous shoe business. They were manufacturing shoes in India and exporting to Italy. Being a socially aware organization, they wanted to pay back to the society. They decided to not only supply free shoes to 50 orphanages in various parts of the country but also give employment to children from those orphanages who were above 18 years of age. In order to meet the fund requirements, they decided to raise 50,000 equity shares of ‘ 50 each and 40,000 9% debentures of ‘ 40 each. Pass the necessary journal entries for issue of shares and debentures. Also identify one value which the company wants to communicate to the society.


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CBSE Class 12 Accountancy Sample Paper 2017 Set 05 & Sample Question Papers for Class 12 Accountancy

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Review model practice papers for Class 12 Accountancy. Working through the CBSE Class 12 Accountancy Sample Paper 2017 Set 05 under simulated test conditions at home ensures complete familiarity with upcoming school evaluations.

Maximize Your Scores with Model Papers

  • Exam Blueprint: Understand mark allocations and structural guidelines relevant to Class 12 evaluations.
  • Targeted Improvement: Identify weak areas in Class 12 Accountancy requiring focused revision.
  • Pacing & Precision: Practice mixed question formats to build execution speed and ensure timely paper completion.

Post-Practice Strategy for Class 12 Accountancy

  1. Self-Evaluation: Score your answers using official guidance to track your academic progress.
  2. Mistake Correction: Class 12 pupils must re-solve questions answered incorrectly to master the correct method.
  3. Continuous Practice: Take additional Accountancy sample modules online to maximize preparedness for CBSE evaluations.

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