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CBSE Guess > Papers > Question Papers > Class XII > 2005 > Accountancy > Delhi Set-III

ACCOUNTANCY (Set III—Delhi)

Except for the following questions, all the remaining questions have been asked in Set I. and Set II.

PART - A

(ACCOUNTANCY)

Q. 1. State the provisions of ‘Indian Partnership Act 1932’ relating to sharing of profits in the absence of any provision in the partnership deed. 2

Q. 2. D Ltd. purchased machinery of Rs. 2,70,000 from V Ltd. The payment was made by the issue of 8% preference shares of RS. 100 each at a discount of 10%.
Pass necessary journal entries. 2

Q. 3. Satyam Ltd. Invited application for issuing 10,000 equity shares of Rs. 100 each at a premium of Rs. 20 per share. The whole amount was payable on application. The issue was fully subscribed
Pass necessary journal entries. 2

Q. 4. On 1.2.2005 Janta Ltd. converted 9,000, 8% debentures of Rs. 100 each into 8% preference shares of Rs. 100 each issued at a discount of 10%.
Pass necessary journal entries for redemption of debentures. 2

Q. 5. A, B and C were partners in a firm sharing profit in the ratio of 2 : 2 : 1. C was guaranteed to be given a profit of Rs. 50,000 per year Deficiency, if any, on that accounts shall be borne by A and B in the ratio of 3 : 2.The net profit of the firm for the year ended 31.3.2004 was Rs. 2,00,000
Prepare Profit and Loss Appropriation Account of A, B and C. 3

Q. 6. Distinguish between a share and a debenture. (Any three points) 3

Q. 7. Briefly explain any four points of the need for the revaluation of assets and liabilities on the reconstitution of a partnership-firm. 4

PART - B

(ANALYSIS OF FINANCIAL STATEMENTS)

Q. 18. What is meant by analysis of financial statements? What is its importance to shareholders and creditors? 3

Q. 19. Current liabilities of a company are Rs. 1,20,000. Its current ratio is 3.00 and liquid ratio is 0.90. Calculate the amount of Current Assets; Liquid Assets and Inventory. 3

Accountancy 2005 Question Papers Class XII
Delhi Outside Delhi
Indian Colleges Set I Indian Colleges Set I
Indian Colleges Set II Indian Colleges Set II
Indian Colleges Set III Indian Colleges Set III