# CBSE Class 12 Accountancy Sample Paper 2018 (4)

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CBSE Class 12 Accountancy Sample Paper 2018 (4). It’s always recommended to practice as many sample papers as possible before the examinations. Students can download the sample papers and also question papers of previous years to practice and score better marks in examinations. Refer to other links too for more sample papers.

Q-1. A and B are partners sharing profit and losses in the ratio of 2:3. C is admitted for 1/5 share in the profits of the firm. If C gets it wholly from A, Calculate the new profit sharing ratio after C’s admission.

Q-2. A,B and C are partners sharing profit and loss in the ratio of 2:5:5 form lstJan,2015,they decided to share profit and loss in the ratio of 3:5:7. On that date General Reserve shown in the books at Rs.48, 000. Pass journal entry.

Q-3. On the dissolution of a firm, there was an unrecorded asset of Rs.2,000 which was taken over by a Creditor at Rs.2,500. What entry will be passed?

Q-4. Give distinction between Issued Capital and Subscribed Capital. (1)

Q-5. Angel Ltd., in order to retain high caliber employees or to give them a belongingness, company has offered a choice to the whole time directors, officers and employees, the right to purchase or subscribe at a future date, the securities or equity shares offered by the company at a pre-determined rate. State what type of plan Angle Ltd, has implemented here.

Q-6. X and Y are partners sharing profits in the ratio of 4: 3. Z is admitted for l/7th share and he brings in Rs. 1,40,000 as his goodwill out of which Rs. 80,000 is credited to X and remaining amount to Y. In which ratio X and Y are sacrificing in favour of Z?

Q-7. You are required to complete the following incomplete journal entries related to forfeiture of shares originally issued at premium (3)

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