CBSE Guess > Papers > Question Papers > Class XII > 2004 > Accountancy > Delhi Set-II

ACCOUNTANCY (Set II—Delhi)

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

PART - ACCOUNTING

Q. 1. Why is P & L Appropriation Account prepared by a Partnership firm’ 2

Q. 2. Distinguish between a ‘Share’ and a ‘Debenture’ (any four points) 2

Q. 4. State the meaning of ‘Redemption of Debentures out of Profits’. 2

Q. 5. The partners of a firm distributed the profits for the year ended 31st March, 2003, Rs. 60,000 in the ratio of   3 : 2 : 1 without providing for the following adjustments:
(i) A & B were entitled to a salary of Rs. 1,500 per annum.
(ii) B was entitled to a commission of Rs. 4,500.
(iii) B & C had guaranteed a minimum profit of Rs. 25,000 p.a. to A.
(iv) Profits were to be shared in the ratio of 3 : 3 : 2.
Pass necessary journal entry for the above adjustment in the books of the firm. 3

Q. 6. Pass necessary journal entries in the books of the company in following cases for redemption of 2,000, 12% Debentures of Rs. 10 Each Issued at par:
(a) Debentures redeemed at par by conversion into 12% Pref. Shares of Rs. 100 each.
(b) Debentures redeemed at premium of 10% by conversion Into Equity shares at per
(c) Debentures redeemed at a premium of 10% by conversion into Equity shares at a premium of 25%. 3

Q. 10. P Ltd, issued Rs. 3,000 12% Debentures of Rs.100 each at a discount of 6% to be redeemed as follows:
1st year: NIL; 2nd year: NIL; 3rd year: Rs.2,00,000; 4th year; Rs. 1,00,000. Show the Discount on the Issue of Debentures Account for the period of 4 years. 4

PART B: ANALYSIS OF FINANCIAL STATEMENTS

Q. 18. List any three tools for analysing the financial statements. 3

Q. 19. Rs. 3,00,000 is the cost of goods sold, Inventory turnover 8 times, Stock at the beginning is 2 times more than the stock at the end Calculate the values of Opening & Closing stock. 3

Accountancy 2004 Question Papers Class XII
Delhi		Outside Delhi		Compartment Delhi		Compartment Outside Delhi
	Set I		Set I		Set I		Set I
	Set II		Set II		Set II		Set II
	Set III		Set III