CBSE Class 12 Accountancy Sample Paper 2014 Set E

Q.1 List any four contents of partnership deed. 

Q.2 X and Y were partners without any partnership deed. How will the disputes be solved between them for the following:

(i) X wants that he should get a salary of Rs1,000p.m for devoting more time for the business of the firm.

(ii) Y wants that they should share profits in capital ratio. 

Q.3 How will you calculate the normal profit of a firm? 

Q.4 At the time of death of a partner how profits are estimated to give share to deceased partner? 

Q.5 On dissolution how you will deal with partner`s loan if it appears on the 

(a) Assets side of the balance sheet (b) Liabilities side of the balance sheet.

Q.6 X,Y and Z were partners in the ratio of 3:2:1.Z retires and his share is taken by X and Y in the ratio of 3:2. Find out the new ratio. (1)

Q.7 A,B and C are partners. They admitted D and guaranteed that his share of profit will not be less than Rs 28000 .Profits are to be shared in the ratio of 4:3:3:2 respectively. Total profits were Rs1,34,400. It was agreed that the excess payable to D over his share will be born by A,B and C in the ratio of 3:2:1.Calculate the share of profit for each partner. 

Q.8 X,Y and Z were partners in a firm with a capital of Rs 40,000,Rs 60,000 & Rs 80,000 respectively. Their profit sharing ratio was 2:2:1.After closing the accounts for the accounting year it was found that interest on capital@10%per annum was not provided which was agreed between the partners in their partnership deed. Make an adjusting entry at the beginning of the next year for the above omission. 

Q.9 The average profit of a business was Rs3,90,000 during the last few years. Normal rate of return is 10% in similar kind of business. Calculate the value of Goodwill by capitalising the average profit if net assets (capital employed)of the business is Rs32,50,000.

Please click the below link to access CBSE Class 12 Accountancy Sample Paper 2014 Set E