CBSE Class 12 Accountancy Question Paper 2019 Set 15 Solved

CBSE Class 12 Accountancy Question Paper Solved 2019 Set O. 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 Organisations,Partnership Firms and Companies)

1. State the two situations under which interest on capital is generally provided.

OR

Distinguish between Fixed Capital Account and Fluctuating Capital Account on the basis of ‘Credit Balance’.

2. What is meant by ‘Reserve Capital’ ?

OR

Name the sources that may be available for redemption of debentures.

3. A not-for-profit organisation prepares three financial statements, one of which is the Income and Expenditure Account. Name the other two financial statements prepared by it.

OR

State the basis of preparing ‘Income and Expenditure Account’.

4. At the time of dissolution of a partnership firm, the book value of sundry assets transferred to Realisation Account was Rs. 2,00,000. 50% of these sundry assets were taken by partner A at 20% discount, 40% of remaining assets were sold at a profit of 30% on cost. 5% of the balance was found obsolete and realised nothing. The remaining assets were taken over by a creditor in full settlement of his claim. Pass necessary journal entries for the above.

5. S, B and J were partners in a firm. T was admitted as a partner in the partnership firm for  1/5  th share of profits. Calculate the sacrificing ratio of S, B and J.

6. Give the accounting entry for an unrecorded liability in case of reconstitution of a partnership firm. 

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