CBSE Class 12 Accountancy Question Paper Solved 2019 Set G

CBSE Class 12 Accountancy Question Paper Solved 2019 Set G. Students can download the last year board exams 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 Not-for-Profit Organizations, Partnership Firms and Companies)

1. State the main aim of a not-for-profit organisation.

OR

How is ‘Life membership fee’ treated while preparing the financial statements of a not-for-profit organisation ?

2. Dinkar, Navita and Vani were partners sharing profits and losses in the ratio of 3 : 2 : 1. Navita died on 30th June, 2017. Her share of profit for the intervening period was based on the sales during that period, which were Rs. 6,00,000. The rate of profit during the past four years had been 10% on sales. The firm closes its books on 31st March every year. Calculate Navita’s share of profit.

3. Kiya and Leela are partners sharing profits in the ratio of 3 : 2. Kiran was admitted as a new partner with

1/5 th share in the profits and brought in Rs. 24,000 as her share of goodwill premium that was credited to the capital accounts of Kiya and Leela respectively with Rs.18,000 and Rs.6,000. Calculate the new profit sharing ratio of Kiya, Leela and Kiran.

4. What is meant by ‘Private Placement of Shares’ ?

OR

What is meant by ‘Reserve Capital’ ?

5. A new partner acquires two main rights in the partnership firm which he joins. State one of these rights.

OR

How does ‘Nature of business’ affect the value of goodwill of a firm ?

6. B, C and D were partners in a firm sharing profits and losses in the ratio of 1 : 4 : 5. On 31st March, 2018 the firm was dissolved and on that date the Balance Sheet of the firm showed a loan of < 10,000 given by C’s brother F. C agreed to pay his brother’s loan. Pass necessary journal entry for the above on the firm’s dissolution.

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