CBSE Guess > Papers > Question Papers > Class XII > 2005 > Accountancy > Outside Delhi Set-III
ACCOUNTANCY (Set III—Outside Delhi)
Except for the following questions, all the remaining questions have been asked in Set I.and Set II
PART - A
Q. 4. Distinguish between fixed and fluctuating capitals of partners. 2
Q. 9. Geeta and Seeta were partners in a firm sharing profits in the ratio of 7 : 3. On 28.2.2005 their firm was dissolved. After transferring assets and outsiders’ liabilities to realisation account, the following transactions took place:
a) Unrecorded creditors Rs. 9,000 were paid by Geeta at a discount of 10%.
b) There was an unrecorded typewriter which was taken over by Seeta for Rs. 700.
c) Expenses of realisation Rs 1,200 were paid by Seeta.
d) Loss on realisation was Rs. 14,000.
Pass necessary journal entries for the above transactions. 4
Q. 10. Gopalan Ltd. purchased 5,000 of its own 8% debentures of Rs. 1,000 each at Rs. 987 per debenture. It also purchased another lot of 600 debentures of the same series at Rs. 986 per debenture. The debentures were purchased for the purpose of cancellation.
Record necessary journal entries in the books of the company. 4
Q. 11. On 28.2.2005 Wye Ltd. issued 7,00,000, 8% debentures of Rs. 50 each at a discount of 4%. The debentures were redeemable at a premium of 5% after four years.
Record necessary journal entries in the books of the company for the issue and redemption of debentures. 4
PART - B
(ANALYSIS OF FINANCIAL STATEMENTS)
Q. 18. What is meant by analysis of financial statements? What is the interest of the management and shareholders in such analysis? 3
Q. 19. The Current Assets of a company are Rs. 17,00,000. Its Current Ratio is 2.50 and Liquid Ratio is 0.95. Calculate its Current Liabilities, Liquid Assets and Inventory. 3
CBSE 2005 Question Papers Class XII