CBSE Class 12 Accountancy Sample Paper 2014 Set B

Read and download PDF of CBSE Class 12 Accountancy Sample Paper 2014 Set B 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 2014 Set B

Accountancy Class 12 Sample Paper

Part A

Accounting for Not-for-Profit Organisations, Partnership Firms and Companies


1. Not-for-profit organisations have some distinguishing features from that of profit organisations. State any one of them.

2. Alka, Barkha and Charu are partners in a firm having no partnership agreement. Alka, Barkha and Charu contributed Rs. 2,00,000, Rs. 3,00,000 and Rs.1,00,000 respectively. Alka and Barkha desire that the profits should be divided in the ratio of capital contribution. Charu does not agree to this. Is Charu correct? Give reasoning.

3. Give the formula for calculating ‘gaining share’ of a partner in a partnership firm.

4. Pawan and Jayshree are partners. Bindu is admitted for 1/4th share. What is the ratio in which Pawan and Jayshree will sacrifice their share in favour of Bindu?

5. What is meant by ‘Convertible debentures’?

6. Show the following information in the Balance Sheet of the Cosmos Club as on 31st March, 2007:

 CBSE Class 12 Accountancy Sample Paper SA2 2014 (3)

Interest Accrued on Tournament Fund Investment Rs. 6,000.  

7. Shubh Limited has the following balances appearing in its Balance Sheet :

                                           Rs.

Securities Premium              22,00,000
9% Debentures                   120,00,000
Underwriting Commission      10,00,000
The company decided to redeem its 9% Debentures at a premium of 10%. You are required to suggest the ways in which the company can utilise the securities premium amount. 
 
8. 20,000 Shares of Rs. 10 each were issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 30,000 shares and the Board decided to allot the shares on a pro-rata basis. Pass journal entries. 
 
9. A, B and C are partners in a firm. They have omitted interest on capital @ 10% p.a. for three years ended 31st March, 2007. Their fixed capitals on which interest was to be calculated throughout were:
A Rs. 1,00,000
B Rs. 80,000
C Rs. 70,000 
Give the necessary adjusting journal entry with working notes.
 
10. X, Y and Z were 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 1.4.2007. They decided to record the effect of the following, without affecting their book values:-
(i) Profit and Loss Account                        Rs. 24,000
(ii) Advertisement Suspense Account         Rs. 12,000
Pass the necessary adjusting entry. 
 
11. Vinod Ltd. decided to redeem Rs. 50,000, 10% debentures. It purchased Rs. 40,000 debentures in the open market at Rs. 97.50 each. The expenses being Rs. 200 and redeemed the balance of Rs. 10,000 debentures by draw of lots. Journalise.


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Sample Paper Accountancy Class 12

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Class 12 Accountancy Sample Paper

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