CBSE Class 12 Accountancy Question Paper 2005 (1)

CBSE Class 12 Accountancy Question Paper 2005 (1). 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

Q1. Define partnership.

Q2. P Ltd. purchased assets worth Rs. 1, 80,000 from S Ltd. The payment was made by issuing equity shares of the face value of Rs. 100 each at a premium of Rs. 20 per share. Pass necessary journal entries.

Q3. JCM Ltd invited applications for issuing 20,000 equity shares of Rs. 20 each at a discount of 10%. The whole amount was payable on application. The issue was fully subscribed. Pass necessary Journal entries

Q4. On 31.1.2005 Janta Ltd. converted Its Rs. 88,00,000, 6% debentures into equitysharesofRs.20 each at a premium of Rs. 2 per share. Pass necessary journal entries in the books of the company for redemption of debentures.

Q5. Pappu and Munna are partners In a firm sharing profits in the ratio of 3 : 2. The partnership deed provided that Pappu was to be paid salary of Rs. 2,500 per month and Munna was to get a commission of Rs. 10,000 per year. Interest on capital was to be allowed @ 5% per annum and interest on drawings was to be charged @ 6% per annum. Interest on Pappu’s drawing was Rs. 1,250 and on Munna's drawings Rs. 425. Capital of the partners were Rs. 2.00.000 and respectively, and were fixed. The firm earned a profit of Rs. 90,575 for the year ended 31.3.2004.Prepare Profit and Loss Appropriation Account of the firm.

Q6. What is meant by issue of debentures as Collateral Security’s?

Q7. What is meant by reconstitution of a partnership firm? Explain briefly any two occasions on which a partnership firm can be reconstituted.

Q8. State the purposes for which securities premium amount can be used by a company.Q9. A, B and C were the partners in a firm, sharing profits in the ratio of 4: 3: 3. The firm was dissolved on 28-2-2005. After transfer of assets and external liabilities to Realization Account the following transactions took place: 

Q9. On 1.1.2000, X Ltd. issued 5, 00,000 8% debentures of Rs. 100 each, redeemable after l0 years. Debenture-holders were given the option to get their debentures redeemed at any time after 3 years at Re. 105 per debenture. At the end of four years, debenture-holders.holding 40,000 debentures exercised their option and got their debentures redeemed. Record necessary journal entries for issue and redemption of debentures in the books of the company. 

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