CBSE Class 12 Accountancy Question Paper SA1 2012 Set 02

CBSE Class 12 Accountancy Question Paper SA1 2012 (2). 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. State one of the most important term that should be incorporates in partnership deed. 

2. Who should compensate to whom in the case of change in profit sharing ratio among existing partners. 

3. Define Goodwill. 

4. Calculate gain and scarifies in the following case:- X & Y sharing profits & losses in 3:4.They decide to change their ratio as 1:1.

5. How can a new partner admitted in the firm? 

6. State any one reason for preparation of Revaluation A/c.? 

7. State the need of treatment of goodwill on retirement of a partner.

8. What will happen if deceased partner’s dues are not settled immediately? 

9. Calculate interest on drawing in following cases: 

a) Rs. 7000 withdrew in the beginning of every months upto 6 months.

b) Rs. 8000 withdrawn at the end of every months upto 4 months. Rate of interest on drawing 12% p.a.

10. A firm earns an average profits of Rs. 84,000 p.a. In the same business a 10% return is expected. The 3 Total assets of the firm are Rs.8,00,000. The value of external liabilities Rs.1,80,000. The fair remuneration of partners Rs. 4,000 p.a. Find the value of Goodwill on the basis if 3 years purchase of Average Super Profits.

11. A and B are partners in a firm sharing profits & losses in the ratio of 3:2. C is admitted as a new partner. A and B surrendered  th & ¼ th of their respective shares in the favour of C. Calculate new profit sharing Ratio.

12. A, B, & C were partners sharing profit in the ratio of respectively. A retires and surrenders of his share in favour of B and remaining in favour of C. Calculate new profit sharing ratio of B and C.

13. P and Q were partners in the ratio 5:3 after closing the books it was discovered that they had omitted 4 interest on capitals @ 10% p.a. their fixed capitals were Rs. 80,000 Rs. 40,000 respectively. Give adjustment entry for the same. 

14. X, Y & Z are partners with profit sharing ratio equally. They decided to change their profit sharing ratio as 4 3:4:5 on that date, their profit & loss A/c. showing credit balance of Rs. 90,000 and Goodwill of the firm value of at Rs. 30,000. Give an adjustment entry for giving effect of P/L A/c. and Goodwill.

15. Anu, Manu and Tanu were partners in a firm, sharing profits & losses in the ratio of 3:2:1. They admitted 4 Ranu as a new partner for share in the profits. The new profit sharing ratio will be 2:2:2:1 respectively. Ranu brought Rs. 6,00,000 for her capital and Rs. 90,000 for his share of premium. Record necessary journal entries and also show working clearly.

Please click the link below to download pdf file of CBSE Class 12 Accountancy Question Paper SA1 2012 (2).