AHSEC Class 12 Accountancy Question Papers 2024
ACCOUNTANCY
Time: Three Hours
Full Marks: 80
Pass Marks: 24
For Old Course Students in lieu of Project works
Full Marks: 100
Pass Marks: 30
Those who appeared H.S. Final Exam till 2024
have been treated as Old Course students
The figures in the margin indicate full marks for the questions.
1. (a) Fill in the blanks with appropriate word/words: (any four) 1 x 4 = 4
(i) Partners current
accounts are prepared when the capital accounts are _______.
(ii) Company has a
separate _______ entity apart from its members.
(iii) Current ratio is the
relationship between current assets and _______.
(iv) Equity shareholders
are _______ of a company.
(v) At the time of
dissolution of partnership firm, assets are transferred to Realisation Account
at _______ value.
(b) State whether the
following statements are ‘True’ or ‘False’:
1 x 2 = 2
(i) Debenture holders do
not have right to vote in the meetings of the company.
(ii) Premium for goodwill
is shared in gaining ratio.
(c) Choose the correct
alternative: 1 x 2
= 2
(1) The portion of the
authorised capital which is offered to the public for sale in the form of
shares is called
(i) subscribed capital.
(ii) issued capital.
(iii) called-up capital.
(iv) paid-up capital.
(2) In the absence of
partnership deed, the rate of interest allowed on partner’s capital is
(i) 6%.
(ii) 5%.
(iii) 6.5%.
(iv) None of the above. .
2. What is meant by re-issue of forfeited
shares? 2
3. Write any two demerits of partnership business.
2
4. Mention two features of a debenture. 2
Or
Write
the meaning of ‘Cash flow from investing activities’. 2
5. Give two circumstances under which the
fixed capitals of partners may change. 2
Or
Why is Profit and Loss
Adjustment Account prepared? 2
6. What is meant by ‘calls-in-advance’? 2
7. Mention two limitations of financial
statement analysis. 2
Or
What
is meant by the term ‘cash equivalents’? 2
8. Write three situations when a partnership
firm is compulsorily dissolved. 3
9. Give any three items that can be shown
under the heading ‘Reserves and Surplus’ in a company’s Balance Sheet. 3
Or
Name any three items of
current assets. 3
10. Current liabilities of a company are Rs.
3,50,000. Its current ratio is 3 : 1 and liquid ratio is 1.75 : 1. Calculate
the current assets and liquid assets. 3
Or
Mention
any three objectives of preparing comparative statement. 3
Or
What is computerised
accounting system? 3
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ALSO READ: AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPERS
1. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2012
2. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2013
3. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2014
4. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2015
5. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2016
6. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2017
7. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2018
8. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2019
9. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2020
10. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2022
11. AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2023
12.AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2024
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11. A and B are partners sharing profits and
losses equally. They have admitted C into the firm. A has surrendered 1/3 of
his share and B has surrendered 1/6 of his share in favour of C. Ascertain the
new profit sharing ratio. 3
Or
Explain
in brief the ‘average profit method’ of goodwill valuation. 3
Or
Write three advantages of
using graphs. 3
12. Prepare a Common size Income Statement of
Maina Ltd. from the following informations: 6
|
Particulars |
2022 (Rs.) |
2023 (Rs.) |
|
Sales Sales Returns Cost of Goods Sold Office Expenses Non-operating Incomes Non-operating Expenses Income Tax Rate |
1,05,000 5,000 70,000 3,000 5,000 1,000 50% |
1,10,000 10,000 74,800 3,200 6,600 1,100 50% |
Or
Explain in brief the tools
of financial analysis. 6
Or
Explain the concepts of
‘data validation’ and ‘data verification’. 6
13. Give Journal entries in the books of
Pakhi Ltd. for issue of debentures under the following situations: 1+1+1+1+2=6
(a) Issued 5,000, 8%
debentures of Rs. 100 each at par redeemable at 5% premium after 4 years.
(b) Issued 6,000, 9%
debentures of Rs. 100 each at 5% premium, redeemable at par after 4 years.
(c) Issued 7,000, 10%
debentures of Rs. 100 each at 5% discount, redeemable at par after 4 years.
(d) Issued 8,000, 10%
debentures of Rs. 100 each at 5% premium, redeemable at 10% premium after 4 years.
(e) Issued 5,000, 9%
debentures of Rs. 100 each to the vendors for purchasing a machinery of Rs.
5,00,000.
Or
Give six points of
distinctions between a share and a debenture. 6
Or
Explain the applications
of Spreadsheet in Accounting. 6
14. Susanta, Ananta and Diganta were in
partnership sharing profits and losses in the ratio of 3 : 2 : 1. On 1.1.2023,
Susanta retires from the firm. On that date Balance Sheet of the firm was as
follows: 6
Balance Sheet
|
Liabilities |
Rs. |
Assets |
Rs. |
|
Creditors Reserve Fund Capital: Susanta
= 80,000 Ananta
= 60,000 Diganta
= 40,000 |
50,000 60,000 1,80,000 |
Cast at Bank Debtors Stock Furniture Land and Building |
6,000 1,50,000 30,000 24,000 80,000 |
|
|
2,90,000 |
|
2,90,000 |
The
terms of the retirement were:
(i) Goodwill of the firm
were valued at Rs. 1,20,000.
(ii) Land and Building to
be appreciated by Rs. 20,000.
(iii) Provision for Bad
Debts to be made @ 2% on debtors.
(iv) Furniture to be
depreciated by Rs. 4,000.
(v) Susanta capital is to
be transferred to his Loan Account.
Give Journal entries relating to the above
transactions.
Or
Explain how the amount due to a decreased
partner is ascertained? 6
15. Distinguish between dissolution of
partnership and dissolution of firm. 6
Or
Ravi and Vicky are
partners in a firm sharing profits and losses in the ratio of 3 : 2. They
decided to dissolve their firm on 31st December, 2022. Their Balance
Sheet on that date was as under:
Balance Sheet
|
Liabilities |
Rs. |
Assets |
Rs. |
|
Capital: Ravi Vicky Creditors Profit and Loss A/c |
17,500 10,000 2,000 1,500 |
Furniture Investment Debtors Stock Cash at Bank |
16,000 4,000 2,000 3,000 6,000 |
|
|
31,000 |
|
31,000 |
Ravi took over the investments at an agreed
value of Rs. 3,800. Other assets were realised as follows:
Furniture = Rs. 18,000
Debtors = 90% of Book
Value
Stock = Rs. 2,800
Creditors of the firm agreed to accept 5%
less. Expenses of realisation amounted to Rs. 400. Close the firm’s books by preparing a Realisation Account, Partner’s
Capital Accounts and Bank Account. 6
16. Anvi Ltd. has issued 10,000 equity shares
of Rs. 10 each at a premium of Rs. 2 each payable as follows: 8
On
Application = Rs. 2
On
Allotment = Rs. 5 (including premium)
On
First and Final Call = Rs. 5
The shares have been fully subscribed, called
up and paid-up except the following:
(a) Allotment and First and Final Call money
on 500 shares held by Ritu, and
(b) First and Final Call money on 600 shares
held by Jitu.
All these shares have been forfeited and
re-issued at 10% discount as fully paid.
Give Journal Entries in the books of the
company.
Or
(a) For what purposes ‘securities premium’
can be used? 5
(b) Write three distinctions between equity
shares and preference share. 3
Or
What are the steps involved in installation
of computerised accounting system (CAS)? 8
17. Mihir and Karan are partners in a firm
sharing profits in the ratio of 3 : 2. On April 1, 2022 their Balance Sheet was
as under: 3+3+2=8
Balance Sheet
|
Liabilities |
Rs. |
Assets |
Rs. |
|
Sundry Creditors Capital: Mihir
= 70,000 Karan
= 60,000 |
85,000 1,30,000 |
Bank Stock Plant and Machinery Building Goodwill Debtors = 24,000 Less Provision = 1,000 |
10,000 22,000 40,000 1,00,000 20,000 23,000 |
|
|
2,15,000 |
|
2,15,000 |
On the above date, they admitted Sunil as a
new partner on the following terms:-
(1) Sunil will bring Rs. 50,000 for his
capital.
(2) He would get 1/5th share in
the future profits.
(3) Goodwill of the firm is valued at Rs.
1,20,000.
(4) Sunil will bring necessary premium for
goodwill.
Pass Journal entries to record the above
transaction. Prepare Partner’s Capital Accounts and Balance Sheet of the new
firm.
Or
(1) Distinguish between Profit and Loss
Account and Profit and Loss Appropriation Account. 5
(2) Mention any three rights of a partner. 3
18. Biswa and Pradip are partners in a firm.
The Trial Balance of the firm as on 31st December, 2022 was as
under: 8
Trial Balance
|
Debit |
Rs. |
Credit |
Rs. |
|
Drawings: Biswa
= 4,000 Pradip
= 3,000 Cash at Bank Sundry Debtors Insurance Advertisement Closing Stock Cash in hand Commission Motor Car Machinery |
7,000 45,000 40,500 19,740 9,000 12,500 16,300 5,000 20,860 10,000 |
Capital: Biswa
= 65,000 Pradip
= 40,000 Sundry Creditors Bank Loan Commission Trading Account (Gross
Profit) |
1,05,000 18,400 5,000 300 57,200 |
|
|
1,85,900 |
|
1,85,900 |
Prepare Profit and Loss Account, Profit and
Loss Appropriation Account and the Balance Sheet of the firm for the year ended
31st December, 2022 after considering the following information:-
(a) Partners are to share profits and losses
in the proportion of 3/5 and 2/5 respectively.
(b) Write off depreciation @ 10% on Machinery
and 20% on Motor Car.
(c) Create a provision of 5% on Sundry
Debtors for Doubtful Debts.
(d) Partners are entitled to Interest on
Capital @ 5% per annum and Pradip is entitled to a salary of Rs. 1,800 per
annum.
For Old Course: (in lieu
of Project Works)
19. Answer the following questions: (any four) 5 x 4 = 20
(a) Write distinctions
between Fixed Capital Account and Fluctuating Capital Account.
(b) What is Ratio
Analysis? Mention any three limitations of ratio analysis.
(c) Explain uses of
Financial Statement.
(d) What is meant by Cash
Flow Statement? Mention any three objectives of preparing cash flow statement.
(e) Explain the average profit method of valuation of goodwill. What is Revaluation Account?
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ALSO READ (AHSEC ASSAM BOARD CLASS 12):
1. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE NOTES
2. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION (THEORY)
3. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION BANK (PRACTICAL)
4. AHSEC CLASS 12 ACCOUNTANCY PAST EXAM PAPERS (FROM 2012 TILL DATE)
5. AHSEC CLASS 12 ACCOUNTANCY SOLVED QUESTION PAPERS (FROM 2012 TILL DATE)
6. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE MCQS
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