CBSE Class 12 Accountancy Sure Shot Questions Worksheet Set C

CBSE Class 12 Accountancy Sure Shot Questions (3). CBSE issues sample papers every year for students for class 12 board exams. Students should solve the CBSE issued sample papers to understand the pattern of the question paper which will come in class 12 board exams this year. The sample papers have been provided with marking scheme. It’s always recommended to practice as many CBSE sample papers as possible before the board examinations. Sample papers should be always practiced in examination condition at home or school and the student should show the answers to teachers for checking or compare with the answers provided. Students can download the sample papers in pdf format free and score better marks in examinations. Refer to other links too for latest sample papers. 

FUNDAMENTALS

Q.1. A and B are partners. A gave a loan of ` 8,000 to the firm on 1.4.12. The Partnership Deed is silent upon interest on loan. How much interest on loan will be provided to him? Accounting year is calendar year

(a) ` 480 (b) `360

(c) ` 200 (d) none of the above

Q.2. On 31.3.12, after the close of books of accounts, the capital a/c of Ram, Shyam & Mohan showed a balance of `24,000, ` 18,000 and ` 12,000 respectively. The profits for the year ended 31.3.12 amounted to Rs. 36,000 and the partner’s drawings had been Ram-Rs. 3,600, Shyam-` 4,500 and Mohan-` 2,700. The Profit Sharing Ratio was 3:2:1. How much will be the opening capital?

(a) Ram-`15,600, Shyam-`10,500, Mohan-` 8,700

(b) Ram-`15,650, Shyam-` 10,550, Mohan-` 2,750

(c) Ram-`15,600, Shyam-`10,500, Mohan-` 2,800

(d) None of the above

Q.3. If Partnership Deed is silent, how much salary will be provided to partners?

(a) Proportionate to capital contribution

(b) Proportionate to time spent

(c) Nil

(d) none of the above

Q.4. A, B and C are partners in a firm. They decided to share profits upto ` 10,000 in the ratio of 50%, 30% and 20% respectively. Above this amount, profits are shared equally. If the profits of the firm for the year was `25,600. Distribute the profits.

(a) A-`10,000, B-`8,500, C-`7,500

(b) A-`10,200, B-`8,100, C-`7,300

(c) A-`10,200, B-`8,200, C-`7,200

(d) A-`10,200, B-`8,200, C-`.7,500

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