CBSE Class 12 Accountancy Sample Paper 2022 Set D

Read and download PDF of CBSE Class 12 Accountancy Sample Paper 2022 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 2022 Set D

Accountancy Class 12 Sample Paper

PART A
Accounting for Not-for-Profit Organisations, Partnership Firms and Companies.
 
1 On dissolution of a firm, Sundry Creditors amounted to `20,000. These were paid at a discount of 5%. What Entry will be passed?
 
2 Differentiate between ‘Equity Share’ and ‘Debenture’ on the basis of risk involved.
Or
What is meant by ‘Employee Stock Option Plan’?
 
3 How are Not-For-Profit organizations organized?
Or
Income and Expenditure Account is prepared on Cash Basis of Accounting. Is the statement correct?
 
4 R drew for his personal use `1,20,000. Interest is chargeable @ 6% p.a. on the drawings. What is the amount of interest chargeable from him?
 
5 At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner?
 
6 Under what circumstances premium for goodwill paid by the incoming partner is not recorded in the books of accounts.
Or
Why is General Reserve distributed among the old partners before new partner is admitted?
 
7 On April 1, 2018 an existing firm had assets of ` 5,00,000 including cash of ` 25,000. The partner’s capital accounts showed a balance of ` 3,50,000 and reserve constituted the rest. If the normal rate of return is 10% and the goodwill of the firm is valued at ` 1,32,000 at 4 year’s purchase of super profits, find the average profits of the firm.
 
8 Dhariwal Ltd. had issued 40,000, 11% Debentures of ` 100 each of which one-half are due for redemption on March 31st 2015. It was decided to invest the required amount towards Debenture Redemption Investment. The company has in its Debenture Redemption Reserve Account balance of ` 3,10,000. Record the necessary journal entries at the time of Redemption of Debentures.
 
9 Venus Ltd took over assets of ` 10,00,000 and liabilities of ` 1,80,000 of Cayns Ltd. for `7,60,000. Venus Ltd. issued 9% Debentures of ` 100 each at a discount of 5% in full satisfaction of the purchase consideration in favour of Cayns Ltd. Pass necessary journal entries in the books of Venus Ltd. for the above transactions.
Or
Haider Limited obtained a loan of ₹ 5,00,000 from State Bank of India @ 10 % interest. The company issued ₹ 7,50,000, 10 % debentures of ₹ 100/- each, in favor of State Bank of India as collateral security. Pass necessary journal entries for the above transactions:
(i). When company decided not to record the issue of 10 % Debentures as collateral security.
(ii). When company decided to record the issue of 10 % Debentures as collateral security.
 
10 From the following information calculate the amount of subscriptions to be credited to the Income and Expenditure Account for the year 2017-18:

CBSE Class 12 Accountancy Sample Paper 2022 Set D 1

Subscriptions received during the year were `8,20,000 and subscriptions amounting to `10,000 are still in arrears for the year 2016-17.
 
11 P, Q and R are sharing profits and losses in the ratio of 5:3:2. They decided to share future profits and losses in the ratio of 2:3:5 with effect from 1st April, 2018. They also decide to record the effect of the following revaluations without affecting the book value of the assets and liabilities by passing a single adjustment entry.

CBSE Class 12 Accountancy Sample Paper 2022 Set D 2

Pass necessary single adjustment entry.
 
12 A, B and C were partners in a firm sharing profits in 3:2:1 ratio. The firm closes its books on 31st March every year. B died on 12th June, 2011. On B’s death the goodwill of the firm was valued at ` 3,00,000. On B’s death his share in the profits of the firm till the time of his death was to be calculated on the basis of previous year’s profit which was `7,50,000. Calculate B’s share in the profit of the firm. Pass necessary journal entries for the treatment of goodwill and B’s share of profit at the time of his death.
 
13 Following is the Receipts and Payments Account of an Entertainment Club for the period of April 1, 2016 to March 31, 2017.

CBSE Class 12 Accountancy Sample Paper 2022 Set D 3

Additional Information:
(i) Advance Subscription on 31st March, 2016 : ` 7,000
Subscription in arrear on 31st March, 2017 : `13,000
(ii) Locker Rent ` 3,050 was outstanding for the year 2015-16 and ` 1,500 for 2016-17.
(iii) Opening Stock of Printing and Stationery ` 2,000 and Closing Stock of Printing and Stationery is ` 3,000 for the year 2016-17.
(iv) On 1st april, 2016 other balances were as under :
Furniture ` 1,00,000
Sports Fund ` 15,000
(v) Depreciate Furniture @ 12.5% p.a. Prepare Income and Expenditure Account for the year ending 31st March, 2017.
 
14 Girija and Ganesh were partners in a firm sharing profits and losses in the ratio of 2:3. On 31st March, 2017 their Balance Sheet was as follows:

CBSE Class 12 Accountancy Sample Paper 2022 Set D 4

CBSE Class 12 Accountancy Sample Paper 2022 Set D 5

On the above date the firm was dissolved. The assets were realized and the liabilities were paid off as follows:
(a) Debtors of ` 6,000 were proved bad.
(b) Girija agreed to pay off her brother’s loan.
(c) One of the creditors for ` 10,000 was paid only ` 3,000 in full settlement of his account.
(d) Buildings were auctioned for ` 1,80,000 and the auctioneer’s commission amounted to ` 8,000.
(e) Ganesh took over part of stock at ` 4,000 (being 20% less than the book value). Balance of the stock was handed over to the remaining creditors in full settlement of their account.
(f) Investments realized ` 9,000 less.
(g) Realisation expenses amounted to ` 17,000 and were paid by Ganesh.
Prepare Realisation Account, Partners’ Capital Accounts and Bank Account.
 
15 A, B and C are partners in a firm. Their Capital Accounts stood at `8,00,000; 6,00,000 and `4,00,000 respectively on 1st April, 2016. They shared profits and losses in the ratio of 3:2:1 respectively. Partners are entitled to interest on capital @ 6% per annum and salary to B and C @ `4,000 per month and `6,000 per quarter respectively as per the provisions of the Partnership Deed.
B’s share of profit including interest on capital but excluding salary is guaranteed at a minimum of `82,000 p.a. Any deficiency arising on that account shall be met by C. Profit for the year ended 31st March, 2017 amounted to ` 3,12,000. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2017.
Or
Anand, Bhuvan and Charan were partners. Their capitals were Anand -`30,000; Bhuvan- `20,000 and Charan- `10,000 respectively. According to the Partnership Deed, they are entitled to an interest on capital at 5% p.a. In addition, Bhuvan was entitled to draw a salary of ` 500 per month. Charan was entitled to a commission of 5% on the profits after charging interest on capital, but before charging salary payable to Bhuvan. Net profit for the year `30,000 was distributed in the ratio of capitals without above appropriations. The profit was to be shared in the ratio 2:2:1. Pass necessary adjustment entry showing the workings clearly.


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