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

ACCOUNTANCY (Set II—Outside Delhi)

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

PART - A

(ACCOUNTANCY)

Q. 1. What is meant by a ‘Joint Life Policy’? 2

Q. 2. D. Pharma Ltd. purchased machinery worth Rs. 10,00,000 from M. Pharma Ltd. Rs. 5,55,000 was paid by issue of 9% preference shares of Rs. 100 each at a premium of 10%. The balance was paid in cash by cheque.
Pass necessary journal entries in the books of D. Pharma Ltd. for making payment. 2

Q. 3. On 1.1.2005 X Ltd. received in advance the first call of Rs. 2 per share on 10,000 equity shares. The first call was due on 15.2.2005.
Journalise the above transactions and transfer the advance to first call acco- unt by opening a Calls-in-Advance Account. 2

Q. 4. Kamath Ltd. converted 200, 9% debentures of Rs. 1000 each into 8% prefer- ence shares of Rs. 100 each issued at a premium of 25%.
Pass necessary journal entries 2

Q. 5. A, B and C were partners in a firm sharing profits in the ratio of 5 : 3 : 2. On 1.1.2005 they decided to share the profits equally. It was also agreed that the change be carried out retrospectively for the last 4 years. The profits for the last 5 years were as follows:

Year ended
Profit (Rs.)
2000
2001
2002
2003
2004
50,000
40,000
10,000
60,000
1,00,000

Pass necessary adjustment entry.

Q. 6. What is meant by issue of debentures as collateral security? Explain briefly. 7

Q. 7. Why is it necessary to revaluate the assets and liabilities of a firm on its reconstitution? Explain briefly. 4

Q. 11. State the conditions for the issue of shares at discount. 4

PART - B

(ANALYSIS OF FINANCIAL STATEMENTS)

Q. 18. Explain briefly the advantages of analysis of financial statements. 2

Q. 19. The Current Ratio of a company is 3.0 and its Liquid Ratio Is 1.15. If its Current Liabilities are Rs. 3,00,000, calculate its 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