CBSE Class 12 Accountancy Sample Paper 2020 Set 04 Solved

CBSE Class 12 Accountancy Sample Paper 2020 Solved Set D. 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.

 PART A

Accounting for Partnership Firm and Companies

1 A and B were partners in a firm sharing profits and losses equally .C is admitted with 1/4th share in profits of the firm. He brings in Rs.3,00,000 as his share in capital. The value of total assets of the firm is Rs.19,40,000 and outside liabilities are valued at Rs.13,00,000 on that date. The amount of goodwill to be brought in by C is:-

(a) Rs.65,000

(b) Rs.1,20,000

(c) Rs.6,40,000

(d) Rs.40,000

2 For which of the followings purpose Securities Premium amount can’t be utilisied .-

a) Issuing fully paid bonus shares to its members

b) Writing off preliminary expenses of the company

c) Writing off the expenses of, or the commission paid or discount allowed on any issue of securities or debentures of the company

d) Providing for loss on sale of investments.

3 A and B were partners sharing profits and losses in the ratio of 3:2. On April 1st 2013,they decided to admit C for 1/5th share in the profits. They had a reserve of Rs.25,000 which they wanted to show in their new balance sheet. C agreed and the necessary adjustments were made in the books. On October 1st 2013, A met with an accident and died. B and C decided to admit A’s daughter F in their partnership , who agreed to bring s.2,00,000 as capital. Calculate A’s share in the reserve on the date of her death.

4 A and B were partners in a firm sharing profits and losses equally. Their firm was dissolved on 15th March 2014 which resulted in a loss of Rs.30,000. On that date the capital account of A showed a credit balance of Rs.20,000 and that of B a credit balance of Rs.30,000. The cash account had a balance of Rs.20,000. The journal entries for making final payment to the partners will be:-

(a)A’s capital a/c                     Dr.15,000

B’s capital a/c                        Dr.15,000

                                          To cash a/c 30,000

(b)A’s capital a/c            Dr. 5,000

B’s capital a/c               Dr. 15,000

                                     To cash a/c 20,000

(c) A’s capital a/c            Dr.20,000

B’s capital a/c                Dr.30,000

                                     To cash a/c 50,000

(d)A’s capital a/c            Dr.15,000

B’s capital a/c                Dr.15,000

                                     To realisation a/c 30,000

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