CBSE Class 12 Accountancy Question Paper Solved 2019 Set L

CBSE Class 12 Accountancy Question Paper Solved 2019 Set L. 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. What is meant by ‘Issue of Debentures as Collateral Security’ ?

OR

State the provision of the Companies Act, 2013 for the creation of Debenture Redemption Reserve.

2. Distinguish between ‘Reconstitution of Partnership’ and ‘Dissolution of Partnership Firm’ on the basis of ‘Closure of books’.

OR

State the basis of calculating the amount of profit payable to the legal representative of a deceased partner in the year of death.

3. Dev withdrew Rs. 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s drawings.

4. A and B were partners in a firm sharing profits in the ratio of 3 : 2. C and D were admitted as new partners. A sacrificed 1/4 th of his share in favour of C and B sacrificed 50% of his share in favour of D. Calculate the new profit sharing ratio of A, B, C and D.

5. Differentiate between ‘Receipts and Payments Account’ and ‘Income and Expenditure Account’ on the basis of ‘Period’.

OR

What is meant by ‘Life membership fees’ ?

6. Distinguish between ‘Dissolution of partnership’ and ‘Dissolution of partnership firm’ on the basis of settlement of assets and liabilities.

7. What is meant by ‘over-subscription’ of shares ? With the help of an example, briefly explain the alternatives available for allotment of shares in case of over-subscription.

OR

What is meant by ‘Forfeiture of shares’ ? When does ‘gain on forfeited shares’ arise and when is it transferred to capital reserve ?

8. A, B and C were partners in a firm sharing profits in the ratio of 2 : 1 : 1. On 1st April, 2018 they admitted D as a new partner. D brought Rs. 2,00,000 for his capital and Rs.24,000 for his share of goodwill premium. The new profit sharing ratio between A, B, C and D will be 1 : 2 : 1 : 1. 

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