CBSE Class 12 Accountancy Sample Paper 2014 Set 02

Accountancy
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Explore authentic exam practice materials through the CBSE Class 12 Accountancy Sample Paper 2014 Set 02. Tailored for Class 12 learners, utilizing these Accountancy sample papers ensures thorough preparation and strengthens time management skills before final CBSE evaluations.

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Part A

Accounting for Not-for-Profit Organisations, Partnership Firms and Companies


1. Not-for-profit organisations have some distinguishing features from that of profit organisations. State any one of them.

2. Alka, Barkha and Charu are partners in a firm having no partnership agreement. Alka, Barkha and Charu contributed Rs. 2,00,000, Rs. 3,00,000 and Rs.1,00,000 respectively. Alka and Barkha desire that the profits should be divided in the ratio of capital contribution. Charu does not agree to this. Is Charu correct? Give reasoning.

3. Give the formula for calculating ‘gaining share’ of a partner in a partnership firm.

4. Pawan and Jayshree are partners. Bindu is admitted for 1/4th share. What is the ratio in which Pawan and Jayshree will sacrifice their share in favour of Bindu?

5. What is meant by ‘Convertible debentures’?

6. Show the following information in the Balance Sheet of the Cosmos Club as on 31st March, 2007:

 CBSE Class 12 Accountancy Sample Paper SA2 2014 (3)

Interest Accrued on Tournament Fund Investment Rs. 6,000.  

7. Shubh Limited has the following balances appearing in its Balance Sheet :

                                           Rs.

Securities Premium              22,00,000
9% Debentures                   120,00,000
Underwriting Commission      10,00,000
The company decided to redeem its 9% Debentures at a premium of 10%. You are required to suggest the ways in which the company can utilise the securities premium amount. 
 
8. 20,000 Shares of Rs. 10 each were issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 30,000 shares and the Board decided to allot the shares on a pro-rata basis. Pass journal entries. 
 
9. A, B and C are partners in a firm. They have omitted interest on capital @ 10% p.a. for three years ended 31st March, 2007. Their fixed capitals on which interest was to be calculated throughout were:
A Rs. 1,00,000
B Rs. 80,000
C Rs. 70,000 
Give the necessary adjusting journal entry with working notes.
 
10. X, Y and Z were sharing profits and losses in the ratio of 5:3:2. They decided to share future profits and losses in the ratio of 2:3:5 with effect from 1.4.2007. They decided to record the effect of the following, without affecting their book values:-
(i) Profit and Loss Account                        Rs. 24,000
(ii) Advertisement Suspense Account         Rs. 12,000
Pass the necessary adjusting entry. 
 
11. Vinod Ltd. decided to redeem Rs. 50,000, 10% debentures. It purchased Rs. 40,000 debentures in the open market at Rs. 97.50 each. The expenses being Rs. 200 and redeemed the balance of Rs. 10,000 debentures by draw of lots. Journalise.


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Free study material for Accountancy

Exam Preparation Sample Paper for Class 12 Accountancy CBSE Class 12 Accountancy Sample Paper 2014 Set 02

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Review model practice papers for Class 12 Accountancy. Working through the CBSE Class 12 Accountancy Sample Paper 2014 Set 02 under simulated test conditions at home ensures complete familiarity with upcoming school evaluations.

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  • Exam Blueprint: Understand mark allocations and structural guidelines relevant to Class 12 evaluations.
  • Targeted Improvement: Identify weak areas in Class 12 Accountancy requiring focused revision.
  • Pacing & Precision: Practice mixed question formats to build execution speed and ensure timely paper completion.

Steps to Follow After Completing CBSE Class 12 Accountancy Sample Paper 2014 Set 02

  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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