CBSE Class 12 Accountancy Question Paper 2015 with Answers (Reval) Outside Delhi Set 02

CBSE Class 12 Accountancy Question Paper 2015 Outside Delhi Set 2 with Answers (Reval). 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

(Accounting for Partnership Firms and Companies)

1. Nirman Ltd. issued 50,000 equity shares of Rs. 10 each. The amount was payable as follows :

On application — Rs.  3 per share

On allotment — Rs.  2 per share

On first and final call — The balance

Applications for 45,000 shares were received and shares were allotted to all the applicants. Pooja, to whom 500 shares were allotted, paid her entire share money at the time of allotment, whereas Kundan did not pay the first and final call on his 300 shares. The amount received at the time of making first and final call was :

(i) Rs. 2,25,000

(ii) Rs.  2,20,000

(iii) Rs.  2,21,000

(iv) Rs.  2,19,500

2. Give the meaning of forfeiture of shares.

3. Anant, Gulab and Khushbu were partners in a firm sharing profits in the ratio of 5 : 3 : 2. From 1.4.2014, they decided to share the profits equally. For this purpose the goodwill of the firm was valued at Rs.  2,40,000.

Pass necessary journal entry for the treatment of goodwill on change in the profit sharing ratio of Anant, Gulab and Khushbu.

4. On the death of a partner, his share in the profits of the firm till the date of his death is transferred to the :

(i) Debit of Profit and Loss Account.

(ii) Credit of Profit and Loss Account.

(iii) Debit of Profit and Loss Suspense Account.

(iv) Credit of Profit and Loss Suspense Account.

5. Geeta, Sunita and Anita were partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 1.1.2015 they admitted Yogita as a new partner for 1/10th share in the profits. On Yogita’s admission, the Profit and Loss Account of the firm was showing a debit balance of Rs. 20,000 which was credited by the accountant of the firm to the capital accounts of Geeta, Sunita and Anita in their profit sharing ratio. Did the accountant give correct treatment ? Give reason in support of your answer.

6. In the absence of Partnership Deed, interest on loan of a partner is allowed :

(i) at 8% per annum.

(ii) at 6% per annum.

(iii) no interest is allowed.

(iv) at 12% per annum.

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