CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I

Read and download CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I designed as per the latest question paper pattern and Class 12 examination guidelines issued by CBSE, NCERT and KVS. The past year Question Papers for Class 12 Accountancy have been provided with solutions which will help students to assess their performance and find out topics in Accountancy Class 12 which they need to improve to get better marks in Class 12 exams. After solving these last year papers also refer to solved Sample Papers for Class 12 Accountancy available on our website to build strong understanding of the subject

Accountancy Question Paper Class 12

Students can refer to the below Class 12 Accountancy Question Paper designed to help students understand the pattern of questions that will be asked in Class 12 exams. Please download CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I

Accountancy Class 12 Question Paper

PART – A
(Accounting for Not-For-Profit-Organisations, Partnership Firms and Companies)
1. Disha and Abha were partners in a firm. Farad was admitted as a new partner for 1/5th share in the profits of the firm. Farad brought proportionate capital. Capitals of Disha and Abha after all adjustments were ₹ 64,000 and ₹46,000 respectively. Capital brought by Farad was :
(a) ₹22,000         (b) ₹27,500          (c) ₹55,000         (d) ₹28,000

2. Which of the following is not a capital receipt ?
(a) Donations for tournament       (b) Donations for building fund
(c) Life membership fee               (d) Entrance fees

3. What is meant by ‘Authorised Capital’ ?

4. Saurabh, Shirin and Somesh are partners in a firm sharing profits and losses in the ratio of 3:2:1. Somesh retires and the new profit sharing ratio between Saurabh and Shirin is 3:2. The gaining ratio between Saurabh and Shirin will be :
(a) 3:2         (b) 3:1         (c) 1:1          (d) 2:1 1

5. Mohit and Rohit were partners in a firm with capitals of ₹80,000 and ₹40,000 respectively. The firm earned a profit of ₹30,000 during the year.
Mohit’s share in the profit will be :
(a) ₹20,000        (b) ₹10,000          (c) ₹15,000          (d) ₹18,000

6. In case of retirement of a partner, profit or loss on revaluation of assets and re-assessment of liabilities is distributed among _______ partners in _______ ratio.

7. Vanya Ltd. forfeited 20,000 equity shares of ₹100 each for non-payment of first and final call of ₹40 per share. The maximum amount of discount at which these shares can be re-issued will be :
(a) ₹8,00,000     (b) ₹12,00,000      (c) ₹20,00,000      (d) ₹20,000

8. _________ means any offer of securities to a select group of persons by a company other than by way of public offer.

9. Shahi Ltd. decided to redeem its 8,000, 11% debentures of ₹100 each at a premium of 10%. The minimum amount transferred to debenture redemption reserve will be :
(a) ₹8,00,000      (b) ₹4,00,000        (c) ₹2,00,000       (d) ₹2,20,000

10. Which of the following does not result into reconstitution of a firm ?
(a) Dissolution of partnership firm.
(b) Dissolution of partnership.
(c) Change in profit-sharing-ratio of existing partners.
(d) Death of partner.

11. Jaipur Club has a prize fund of ₹ 6,00,000. It incurs expenses on prizes amounting to ₹5,20,000. The expenses should be
(a) debited to income and expenditure account.
(b) presented on the asset side of the balance sheet.
(c) debited to income and expenditure account and presented on the asset side of the balance sheet.
(d) deducted from the prize fund on the liability side of the balance sheet.

12. No debenture redemption reserve is required for debentures issued by :
(a) manufacturing companies (b) infrastructure companies
(c) banking companies (d) trading companies

13. The portion of uncalled capital to be called only in the event of winding up of the company is called _________.

14. Kabir and Farid are partners in a firm sharing profits in the ratio of 3:1 on 1-4-2019 they admitted Manik into partnership for 1/4th share in the profits of the firm. Manik brought his share of goodwill premium in cash.
Goodwill of the firm was valued on the basis of 2 years purchase of last three years average profits. The profits of last three years were :
2016-17        ₹90,000
2017-18        ₹1,30,000
2018-19        ₹ 86,000
During the year 2018-19 there was a loss of ₹20,000 due to fire which was not accounted for while calculating the profit.
Calculate the value of goodwill and pass the necessary journal entries for the treatment of goodwill.
Raka, Seema and Mahesh were partners sharing profits and losses in the ratio of 5:3:2. With effect from 1st April, 2019, they mutually agreed to share profits and losses in the ratio of 2:2:1.
On that date, there was a workmen’s compensation fund of ₹90,000 in the books of the firm. It was agreed that :

(i) Goodwill of the firm be valued at ₹70,000.
(ii) Claim for workmen’s compensation amounted to ₹40,000.
(iii) Profit on revaluation of assets and re-assessment of liabilities amounted to ₹40,000.
Pass necessary journal entries for the above transactions in the books of the firm.

More Study Material

Previous Year Question Paper Accountancy Class 12

We hope you liked the above provided CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I. To get an understanding of the type of questions which were asked in previous year exams, it is important for Class 12 students to refer to CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I that we have provided above. Students can download all the Question Papers for Class 12 Accountancy which were issued in the exams so that you can practise them and solve all types of questions which have been asked till now. If you do CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I for Class 12 Accountancy you will easily understand the way examination question papers are set by teachers.

Class 12 Accountancy Previous Year Question Papers

The past year question papers CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I covers all the topics which have been suggested by CBSE in their Class 12 Accountancy syllabus for the current year. By doing all CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I PYP (previous year papers) you will understand the regular questions and MCQ questions for Class 12 Accountancy which are always asked and learn them so that you can get full marks in those questions.

We have provided links above of CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I in Pdf format so that you can just click the links and easily download the papers with answers. On studiestoday, we have also provided a download and print option for all CBSE Class 12 Accountancy last year papers and Sample Papers for Class 12 Accountancy to make it more easy for students. You can download CBSE Class 12 Accountancy Previous Year Question Papers and Class 12 Accountancy Sample Papers in PDF absolutely free of cost.

Accountancy Previous Year Question Papers Class 12 with Solutions

We have provided CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I with solutions. You will be able to understand the type of answers which you should write in Class 12 Accountancy exams to score good marks. You should attempt all the last year question paper for Class 12 and Class 12 Accountancy MCQ Test in examination conditions at home and then compare their answers with the solutions provided by our teachers. This way you will be able to identify your weak areas and also understand how the teachers of Class 12 Accountancy set their questions in the exams.

CBSE Class 12 Accountancy Previous Year Question Papers with solutions

We have provided the last 10 years Class 12 Accountancy Question Papers. Students who want to practice question papers from all previous years can easily get them on studiestoday. We are the leading website in India from which you can download all the latest Class 12 Accountancy study material for free as per the CBSE syllabus for Class 12 Accountancy for the current academic year.

Where can I download CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I in Pdf

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Can I download the previous year Question Papers of Class 12 Accountancy in Pdf

Yes, you can click on the links above and download Question Papers in PDFs for Class 12 for Accountancy. Click on above link to download CBSE Class 12 Accountancy Boards 2020 Question Paper Solved Set I

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