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Sample 2 Mark Book Back Questions (New Syllabus) 2020

12th Standard EM

    Reg.No. :


Time : 00:30:00 Hrs
Total Marks : 24
    12 x 2 = 24
  1. Find out credit sales from the following information:

    Debtors on 1st January 2018 40,000
    Cash received from debtors 1,00,000
    Discount allowed 5,000
    Sales returns 2,000
    Debtors on 31st December 2018 Debtors on 31st December 2018
  2. Find out credit sales from the following information:

    Particulars Rs.
    Debtors on 1st April, 2018 1,00,000
    Cash received from debtors 2,30,000
    Discount allowed 5,000
    Returns inward 25,000
    Debtors on 31st March 2019 1,20,000
  3. From the following Receipts and Payment Account of Ooty Recreation Club, prepare Income
    and Expenditure Account for the year ended 31.03.2018

    Receipts Rs. Payments Rs.
    To Opening balance   By Sports materials purchased 10,000
    Cash in hand 5,000 By Stationery paid 7,000
    To Rent received 10,000 By Computer purchased 25,000
    To Sale of investments 8,000 By Salaries 20,000
    To Subscription received 54,000 By Closing balance  
        Cash in hand 15,000
      77,000   77,000
  4. Antony and Akbar were partners who share profits and losses in the ratio of 3:2. Balance in their capital account on 1st January 2018 was Antony Rs.60,000 and Akbar Rs.40,000. On 1st April 2018 Antony introduced additional capital of ` 10,000. Akbar introduced additional capital of Rs.5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

  5. From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs.60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs.4,50,000

  6. Anbu and Raju are partners, sharing profits in the ratio of 3:2. Akshai is admitted as a partner. The new profit sharing ratio among Anbu, Raju and Akshai is 5:3:2. Find out the sacrificing ratio.

  7. Mary, Meena and Mariam are partners of a firm sharing profits and losses equally. Mary retired from the partnership on 1.1.2019. On that date, their balance sheet showed accumulated loss of Rs. 75,000 on the asset side of the balance sheet. Give the journal entry to distribute the accumulated loss.

  8. Kayal, Mala and Neela are partners sharing profits in the ratio of 2:2:1. Kayal retires and the new profit sharing ratio between Nila and Neela is 3:2. Calculate the gaining ratio.

  9. Bharath Ltd. issued 1,00,000 equity shares of  Rs. 10 each to the public at par. The details of the
    amount payable on the shares are as follows:

    On application Rs.5 per share
    On allotment Rs.3 per share
    On first and final call Rs.2 per share

    Application money was received for 1,20,000 shares. Excess application money was refunded immediately. Pass journal entries to record the above.

  10. From the following particulars, prepare comparative income statement of Abdul Co. Ltd.

    Particulars 2015-16
    Revenue from operations 3,00,000 3,60,000
    Other income 1,00,000 60,000
    Expenses 2,00,000 1,80,000
    Income tax 30% 30%
  11. What is meant by debt equity ratio?

  12. What are accounting reports?


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