CBSE Class 12 Accountancy Sample Paper 2020 Set 03 Solved

CBSE Class 12 Accountancy Sample Paper 2020 Solved Set C. It’s always recommended to practice as many sample papers as possible before the examinations. Students can download the sample papers and also question papers of previous years to practice and score better marks in examinations. Refer to other links too for more sample papers.

1 Can paid up capital of a company be more than the issued capital? Give reasons.

2 What is the maximum discount permissible at time of reissue of forfeited shares if shares were originally issued at par?

3 Credit balance of partner’s current a/c is shown on which side of the balance sheet?

4 In which account interest on partner’s loan is debited and why?

5 XYZ Ltd. has a paid – up share capital of Rs. 60,00,000 and a balance of Rs. 15,00,000 in the Securities Premium Reserve account. The company management does not want to carry over this balance. State any one purpose for which this balance can be utilisied.

6 Provision for depreciation Rs. 3,10,000; Employees Provident Fund Rs. 58,000 and Provision for discount on debtors Rs. 12,000 has been transferred to the credit side of realisation a/c. For which item the payment is to be made by the firm?

7 What do you understand by reserve capital?

8 X and Y are partners sharing profits and losses in the ratio 5:3. They admitted Z for 1/5th share in profits, for which he paid Rs.60,000 as capital and Rs. 30,000 against goodwill. Find the capital balance for each partner taking Z’s capital as base capital.

9 A , B and C are partners sharing profits and losses in the ratio of 5:3:2. On 1st April 2013, B retires with A and C agreeing the share profits in future in the ratio of 3:2

(i) Find the gaining ratio

(ii) B’s share after making adjustments for reserves and profits on revaluation amounts to Rs.37,000 but he is paid Rs. 40,000. Identify the item for which he is paid Rs.3,000 more. Also pass a journal entry for same.

10 State any three conditions that must be fulfilled by a company to issue shares at a discount.

11 What Journal entries would be passed for the following transactions on the dissolution of a partnership firm, after transferring assets (other than cash) and third party liabilities to the Realisation a/c?

(i) Z, an old customer, whose account for Rs. 10,000 was written off as bad in the previous year, paid 60%.

(ii) Expenses of realisation Rs. 9,400 were borne by Khan, a partner. Khan used firm’s cash for paying these expenses.

(iii) Bank Overdraft transferred to Realisation a/c at Rs. 20,000 was taken over by Moshim, a partner including Rs. 1,000 as interest.

12 A and B are equal partners. They decided to admit C for 1/3rd share. A surrendered 1/3rd of his share in favour of C and B gave 1/6th from his share in favour of C.

The following information is given :

(i) Average capital employed Rs. 1,00,000 

Please click the link below to download CBSE Class 12 Accountancy Sample Paper 2020 Solved Set C