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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.



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.)

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



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