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%. 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 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%. 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 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
CBSE 2005 Question Papers Class XII
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