CBSE Class 12 Accountancy Question Paper Outside Delhi 2013 Set 01

CBSE Class 12 Accountancy Question Paper - Outside Delhi 2013 (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.  

1. On 28.2.2005 BCL Ltd. converted its Rs. 1,00,000, 9% debentures issued at a premium of 10% into 8% preference shares of Rs. 100 each issued at a premium of 25%. Pass necessary journal entries on the redemption of debentures.

2. CMC Ltd. invited applications for issuing 1,00,000 Equity Shares of Rs. 10 each at a premium of Rs. 3 per share. The whole amount was payable on application. The issuewas over-subscribed by 30,000 shares and allotment was made on pro-rata basis. Pass necessary journal entries in the books of the company.

3. 'X' Ltd. purchased land costing Rs. 9,50,00,000 from 'Y' Ltd. Rs. 50,00,000 were paid through bank and the balance by issuing equity shares of Rs. 100 each at a discount of 10%. Pass the necessary journal entries for making the payment through bank and by issue of equity shares.

4. Distinguish between fixed and fluctuating capitals of partners. 

5. What is meant by a debenture ? Distinguish between a debenture and a share. (Any two points)

6. Ram and Manohar are partners in a firm sharing profits and losses in the ratio of 7 : 3. According to the partnership deed, Ram was to be paid salary of Rs. 5,000 per month and Manohar was to get a bonus of Rs. 40,000 per annum. Interest on capital was to be allowed @ 10% per annum and interest on drawings was to be charged @ 8% per annum. Interest on Ram's drawings was Rs. 3,000 and on Manohar's drawings was Rs. 2,000. Their fixed capitals were Rs. 4,00,000 and Rs. 1,50,000 respectively. The firm earned a profit of Rs. 2,50,000 for the year ended 31.3.2004. Prepare Profit and Loss Appropriation Account of Ram and Manohar.

7. State any four purposes for which securities premium can be utilized. 

8. Briefly explain the occasions when the partnership can be reconstituted. 

9. Geeta and Seeta were partners in a firm sharing profits in the ratio of 7 : 3. On 28.2.2005 their firm was dissolved. After transfering assets and outsiders’ liabilities to realisation account, the following transactions took place :

(i) Unrecorded creditors Rs. 9,000 were paid by Geeta at a discount of 10%.

(ii) There was an unrecorded typewriter which was taken over by Seeta for Rs. 700.

(iii) Expenses of realisation Rs. 1,200 were paid by Seeta.

(iv) Loss on realisation was Rs. 14,000.

10. Gopalan Ltd. purchased 5,000 of its own 8% debentures of Rs. 1,000 each at Rs. 987 per debenture. It also purchased another lot of 600 debentures of the same series at Rs. 986 per debenture. The debentures were purchased for the purpose of cancellation. Record necessary journal entries in the books of the company.

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