CBSE Class 12 Accountancy Board Question Paper 2018 Set 03 Solved

CBSE Class 12 Accountancy Board Question Paper Solved 2018 Set 3. Students can download the last year question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.

PART - A

1. Distinguish between ‘Dissolution of partnership’ and ‘Dissolution of partnership firm’ on the basis of settlement of assets and liabilities.

2. Is ‘Reserve Capital’ a part of ‘Unsubscribed Capital’ or ‘Uncalled Capital’ ?

3. Ritesh and Hitesh are childhood friends. Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for rs. 2 crores. After a year, they sold it for rs.3 crores and shared the profits equally. Are they doing the business in partnership ? Give reason in support of your answer.

4. Amit and Beena were partners in a firm sharing profits and losses in the ratio of 3 : 1. Chaman was admitted as a new partner for 61 th share in the profits. Chaman acquired 52 th of his share from Amit. How much share did Chaman acquire from Beena ?

5. Give the meaning of ‘Debentures issued as Collateral Security’.

6. Neetu, Meetu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu’s retirement the goodwill of the firm was valued at rs.4,20,000.Pass necessary journal entry for the treatment of goodwill on Meetu’s retirement. 

7. NK Ltd., a truck manufacturing company, is registered with an authorised capital of Rs.1,00,00,000 divided into equity shares of Rs.100 each. The subscribed and paid up capital of the company is Rs.50,00,000. The company decided to open technical schools in the Jhalawar district of Rajasthan to train the specially abled children of the area. It is planning to provide them employment in its various production units and industries in the neighbourhood area.

8. What is meant by a ‘Share’ ? Give any two differences between ‘Preference Shares’ and ‘Equity Shares’.

9. Jayant, Kartik and Leena were partners in a firm sharing profits and losses in the ratio of 5 : 2 : 3. Kartik died and Jayant and Leena decided to continue the business. Their gaining ratio was 2 : 3. Calculate the new profit sharing ratio of Jayant and Leena.

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