CBSE Class 12 Accountancy Sample Paper with Marking Scheme 2013 Set 05

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Part A

Accounting for Not for Profit Organizations, Partnership Firms and Companies


1. Name the account which shows the classified summary of transactions of a Cash Book in a not-for-profit organisation. 

2. List two items that may appear on the Credit side of a partner’s fixed capital account.

3. Give two circumstances in which sacrificing ratio may be applied. 

4. Name any two factors affecting goodwill of a partnership firm. 

5. What is the nature of Interest on Debentures? 

6. On the basis of following information, calculate the amount of stationery to be shown in Income and Expenditure Account for the year ended 31st March, 2007. 
                                                                            Rs.
Stock of stationery on 1.4.2006                            50,000
Stock of stationery on 31.3.2007                          40,000
Amount paid for stationery during the year          2,00,000
Creditors for stationery on 1.4.2006                      20,000
Creditors for stationery on 31.3.2007                    10,000
 
7. State the exceptions to the creation of Debenture Redemption Reserve as per SEBI Guidelines. 
 
8. Akash Ltd. issued 1,00,000 shares of Rs. 10 each, payable as follows :
Rs. 2 on application payable on 1st March, 2006; Rs. 3 on allotment payable on 1st May, 2006; Rs. 2 on first call payable on 1st August, 2006 and Rs. 3 on second and final call payable on 1st December, 2006. All these shares were subscribed for and amounts duly received. Akriti, who had 8,000 shares, paid the amount of both the calls alongwith allotment.

Suniti, who had 4,000 shares, paid the amount of second and final call with the first call.Calculate the amount of interest on calls-in-advance payable to Akriti and Suniti.The Company adopts Table A. 

9. X, Y and Z are partners sharing profits and losses in the ratio of 3:2:1. After the final accounts have been prepared, it was discovered that interest on drawings @ 5% p.a. had not been taken into consideration. The drawings of the Partners were : X Rs. 15,000; Y Rs. 12,600; Z Rs. 12,000.Give the necessary adjusting journal entry. 
 
10. P, Q and R are partners sharing profits and losses in the ratio of 5:3:2. From 1st January, 2006, they decide to share profits and losses in equal proportion. The partnership deed provides that in the event of any change in profit sharing ratio, the goodwill should be valued at three years’ purchase of the average of five years’ profits. The profits and losses of the preceding five years are:
Profits : 2001 - Rs. 60,000 2002 Rs. 1,50,000 2003 - Rs. 1,70,000 2004 - Rs. 1,90,000.
Loss : 2005 - Rs. 70,000.
Give the necessary journal entry to record the above change. 
 
11. A company took a loan of Rs. 5,00,000 from State Bank of India and issued 10% debentures of Rs. 8,00,000 of Rs. 100 each as a collateral security. Explain how will you deal with issue of debentures in the books of company. 
 
12. (a) Alpha Ltd. has 5,000 8% Debentures of Rs. 100 each due for redemption on March 31, 2007. Assume that Debenture Redemption Reserve has a balance of Rs. 1,90,000 on that date. Record the necessary entries at the time of redemption of debentures.
(b) What journal entries should be made for the issue of debentures in the following cases:
(i) X Limited issued 30,000 12% Debentures of Rs. 100 each at par, redeemable at a premium of 5%.
(ii) Y Limited issued 50,000 12% Debentures of Rs 100 each at a premium of 5%, redeemable at par.


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Download Sample Paper: CBSE Class 12 Accountancy Sample Paper with Marking Scheme 2013 Set 05 (Class 12 Accountancy)

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  • Curriculum Insights: Clarify chapter-wise weightage rules and question trends across Class 12.
  • Gap Analysis: Check performance drops across sets to isolate specific Class 12 Accountancy topics needing extra attention.
  • Time Efficiency: Working through objective and descriptive problems builds critical pacing to finish exams comfortably.

Post-Practice Strategy for Class 12 Accountancy

  1. Verify Answers: Compare your responses against professional teacher solutions provided in the sample paper keys.
  2. Error Analysis: Class 12 learners must review incorrect answers carefully to understand underlying mistakes.
  3. Concept Reinforcement: Consult the official NCERT book for Class 12 Accountancy when stuck before re-attempting problems.

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