12th Standard Accountancy Study material & Free Online Practice Tests - View Model Question Papers with Solutions for Class 12 Session 2019 - 2020
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Accountancy Question Papers

12th Standard Accountancy One Mark important Questions Book back and Creative - 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit
    made during the year is Rs2,000 and the additional capital introduced is ` 3,000, find out
    the amount of capital at the end

  • 3)

    Balance sheet is prepared under

  • 4)

    ______________ is not based on dual aspect concept

  • 5)

    Receipts and payments account records receipts and payments of

12th Standard Accountancy English Medium All Chapter Book Back and Creative Five Marks Questions 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on that date.

    Dr.     Cash Book       Cr.
    Receipts Rs. Payments Rs.
    To balance b/d 32,000 By Purchases A/c 56,000
    To Sales A/c 1,60,000 By Creditors A/c 80,000
    To Debtors A/c 1,20,000 By General expenses A/c 24,000
        By Wages A/c 10,000
        By Balance c/d 1,42,000
      3,12,000   3,12,000
    Particulars 1.4.2018
    Rs.
    31.3.2019
    Rs.
    Stock of goods 40,000 60,000
    Debtors 38,000 ?
    Creditors 58,000 52,000
    Machinery 1,70,000 1,70,000

    Additional information: `
    (i) Credit purchases 74,000
    (ii) Credit sales 1,40,000
    (iii) Opening capital 2,22,000
    (iv) Depreciate machinery by 10% p.a.

  • 2)

    Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

    Particulars 1-1-2018
    Rs.
    31-12-2018
    Rs.
    Machinery 60,000 60,000
    Cash at bank 25,000 33,000
    Sundry debtors 70,000 1,00,000
    Stock 45,000 22,000
    Bills receivable 20,000 38,000
    Bank loan 45,000 45,000
    Sundry creditors 25,000 21,000
      Rs.   Rs.
    Cash sales 20,000 Credit sales 1,80,000
    Cash purchases 8,000 Credit purchases 52,000
    Wages 6,000 Salaries 23,500
    Advertisement 7,000 Interest on bank loan 4,500
    Drawings 60,000 Additional capital 21,000

    Adjustments:
    Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

  • 3)

    From the following details, find out credit purchases:

    Particulars Rs.
    Opening sundry creditors 75,000
    Closing sundry creditors 90,000
    Cash paid to sundry creditors 22,500
    Discount received 15,000
    Purchase returns 7,500
  • 4)

    From the following details of vijay who maintains incomplete records, prepare trading and profit and loss account for the year ended 31st March 2018 and a Balance sheet as on the date.

    Particulars As on 1.4.2017
              Rs.
    As on 31.3.2018
              Rs.
    Sundry Creditors 37,500 43,750
    Furniture 2,500 2,500
    Cash 6,250 10,000
    Sundry debtors 62,500 87,500
    Stock 25,000 12,500

     Other details:

      Rs.
    Drawings 10,000
    Discount received 3,750
    Discount allowed 2,500
    Cash received from sundry debtors 1,35,000
    Cash paid to creditors 1,12,500
    Sales returns 3,750
    Purchase returns 1,250
    Sundry expenses paid 8,750
  • 5)

    From the following receipts and payment account, prepare income and expenditure account of Kumbakonam Basket Ball Association for the year ended 31st March, 2018

    Receipts Rs. Rs. Payments Rs. Rs.
    To Balance b/d     By Rent of ground paid   12,000
    Cash in hand 23,000   By Printing charges   5,000
    To Rent of hall received 12,000 6,000 By Insurance for building   2,000
    To Subscription received   9,000 By Tournament expenses   16,000
    To Life membership fees   7,000 By Audit fees   3,000
    To Locker rent received   2,000 By Sports materials purchased   4,000
          By Balance c/d    
          Cash in hand 2,000  
          Cash at bank 14,000 16,000
        59,000     59,000

12th Standard Accountancy English Medium All Chapter Book Back and Creative One Marks Questions 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following items relating to bills payable is transferred to total creditors account?

  • 2)

    The amount of credit sales can be computed from

  • 3)

    If opening capital Rs. 1,000 and closing capital Rs. 2000. Assuming no drawings during the accounting period, calculated the net income or loss for the period

  • 4)

    A firm has liabilities is Rs.50,000 and Capital is Rs.25,000. Then its assets is ______________

  • 5)

    Which of the following should not be recorded in the income and expenditure account?

12th Standard Accountancy English Medium All Chapter Book Back and Creative Three Marks Questions 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    David does not keep proper books of accounts. Following details are given from his records

    Particulars 1.4.2018
    Rs
    31.3.2019
    Rs
    Cash 43,000 29,000
    Stock of goods 1,20,000 1,30,000
    Sundry debtors 84,000 1,10,000
    Sundry creditors 1,05,000 1,02,000
    Loan 25,000 20,000
    Business premises 2,50,000 2,50,000
    Furniture 33,000 45,000

    During the year he introduced further capital of Rs. 45,000 and withdrew Rs. 2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information.

  • 2)

    From the following particulars, calculate total sales.

    Particulars Rs
    Debtors on 1st April 2017 1,50,000
    Bills receivable on 1st April 2017 40,000
    Cash received from debtors 3,90,000
    Cash received for bills receivable 90,000
    Bills receivable dishonoured 10,000
    Sales return 40,000
    Bills receivable on 31st March, 2018 30,000
    Sundry debtors on 31st March, 2018 1,30,000
    Cash sales 2,00,000
  • 3)

    Radhika started a small bakery for providing healthy and good quality bakery product at reasonable prices on 1st January, 2019 with a capital of Rs.1,80,000. She appointed a ten year old boy as a sweeper. She withdrew Rs.60,000 for household expenses. She introduced Rs.20,000as fresh capital. Her position of assets and liabilities as at 31st December, 2019 stood as follows.

      Rs.
    Cash in hand 70,000
    Stock 80,000
    Bills receivable 1,00,000
    Debtors 1,50,000
    Creditors 60,000
    Bills payable 10,000
  • 4)

    Which values are affected, when accounts are maintained on single entry system basis.

  • 5)

    How the following items are dealt with in the final accounts of not–for–profit organisation?
    a) Sale of sports materials
    b) Life membership fees
    c) Tournament fund

12th Standard Accountancy English Medium All Chapter Book Back and Creative Two Marks Questions 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following details, calculate credit purchases

    Particulars Rs
    Creditors on 1st April, 2018 50,000
    Returns outward 6,000
    Cash paid to creditors 1,60,000
    Creditors on 31st March, 2019 70,000
  • 2)

    From the following details, calculate credit purchases

    Particulars Rs.
    Opening creditors 1,70,000
    Purchase returns 20,000
    Cash paid to creditors 4,50,000
    Closing creditors 1,90,000
  • 3)

    Under single entry system is it possible to check the arithmetical accuracy of books of accounts?

  • 4)

    What are the possible reasons for keeping incomplete records?

  • 5)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000

12th Accounts - Incomplete Records 1 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Statement of affairs is a

  • 3)

    Opening statement of affairs is usually prepared to find out the

  • 4)

    The excess of assets over liabilities is

  • 5)

    Which of the following items relating to bills payable is transferred to total creditors account?

12th standard Accounts - Incomplete Records 2 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    Following are the balances of Shanthi as on 31st December 2018.

    Particulars Rs Particulars Rs
    Bills receivable 6,000 Sundry creditors 25,000
    Bills payable 4,000 Stock 45,000
    Machinery 60,000 Debtors 70,000
    Furniture 10,000 Cash 4,000
  • 3)

    Find out credit sales from the following information:

      Rs.
    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
  • 4)

    State the accounts generally maintained by small sized sole trader when double entry accounting system is not followed.

  • 5)

    What is a statement of affairs?

12th standard Accounts - Incomplete Records 3 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    From the following particulars ascertain profit or loss:

      Rs.
    Capital as on 1st April 2018 1,60,000
    Capital as on 31st March, 2019 1,50,000
    Additional capital introduced during the year 25,000
    Drawings made during the year 30,000
  • 2)

    From the following details, calculate the missing figure

      Rs.
    Closing capital as on 31.3.2019 1,90,000
    Additional capital introduced during the year 50,000
    Drawings during the year 30,000
    Opening capital on 1.4.2018 ?
    Loss for the year ending 31.3.2019 40,000
  • 3)

    From the following details, calculate the capital as on 31st December 2018:

      Rs
    Capital as on 1st January, 2018 27,500
    Goods taken for the personal use of the proprietor 5,000
    Profit for the year 10,000
  • 4)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 5)

    On 1st April 2017, Ganesh started his business with a capital of Rs.75,000. He did not maintain proper book of accounts. Following particulars are available from his books as on 31.03.2018

    Particulars Rs Particulars Rs
    Cash 5,000 Debtors 16,000
    Stock of goods 18,000 Creditors 9,000
    Bills receivable 7,000 Cash at bank 24,000
    Furniture 3,000 Bills payable 6,000

12th standard Accounts - Incomplete Records- 5 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the
    year ending 31st March, 2018.

    Particulars 1.4.2017
    Rs
    31.3.2018
    Rs`
    Bank balance 14,000 (Cr.) 18,000 (Dr.)
    Cash in hand 800 1,500
    Stock 12,000 16,000
    Debtors 34,000 30,000
    Plant 80,000 80,000
    80,000 40,000 40,000
    Creditors 60,000 72,000

    Ahmed had withdrawn 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

  • 2)

    From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account.

    Particulars Opening
    Rs.
    Closing
    Rs.
    Debtors 60,000 55,000
    Bills receivable 5,000 1,000
    Creditors 25,000 28,000
    Bills payable 2,000 3,000
    Other information    
    Cash received from debtors   1,30,000
    Discount allowed to customers   5,500
    Cash paid to creditors   70,000
    Discount allowed by suppliers   3,500
    Payments against bill payable   7,000
    Cash received for bills receivable   14,000
    Bills receivable dishonoured   1,200
    Bad debts   3,500
  • 3)

    From the following details of Abdul who maintains incomplete records, prepare Trading and Profit and Loss account for the year ended 31st March, 2018 and a Balance Sheet as on the date.

    Particulars 1.4.2017
    Rs.
    31.3.2018
    Rs.
    Stock 1,00,000 50,000
    Sundry debtors 2,50,000 3,50,000
    Cash 25,000 40,000
    Furniture 10,000 10,000
    Sundry creditors 1,50,000 1,75,000
    Other details:
      Rs.   Rs.
    Drawings 40,000 Cash received from debtors 5,35,000
    Discount received 20,000 Sundry expenses 30,000
    Discount allowed 25,000 Capital as on 1.4.2017 2,35,000
    Cash paid to creditors 4,50,000    
  • 4)

    Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on that date.

    Dr.     Cash Book       Cr.
    Receipts Rs. Payments Rs.
    To balance b/d 32,000 By Purchases A/c 56,000
    To Sales A/c 1,60,000 By Creditors A/c 80,000
    To Debtors A/c 1,20,000 By General expenses A/c 24,000
        By Wages A/c 10,000
        By Balance c/d 1,42,000
      3,12,000   3,12,000
    Particulars 1.4.2018
    Rs.
    31.3.2019
    Rs.
    Stock of goods 40,000 60,000
    Debtors 38,000 ?
    Creditors 58,000 52,000
    Machinery 1,70,000 1,70,000

    Additional information: `
    (i) Credit purchases 74,000
    (ii) Credit sales 1,40,000
    (iii) Opening capital 2,22,000
    (iv) Depreciate machinery by 10% p.a.

  • 5)

    Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

    Particulars 1-4-2018
    Rs.
    31-3-2019
    Rs.
    Plant and machinery 20,000 20,000
    Stock 9,000 16,000
    Sundry debtors 2,000 5,300
    Sundry creditors 5,000 4,000
    Cash at bank 4,000 6,000

    Other information for the year ending 31-3-2019 showed the following

      Rs.
    Advertising 4,700
    Carriage inwards 8,000
    Cash paid to creditors 64,000
    Drawings 2,000

    Total sales during the year were Rs.85,000. Purchases returns during the year were Rs.2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs.300 for doubtful
    debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a
    balance sheet as on the date.

12th standard Accounts - Incomplete Records-model question paper - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Statement of affairs is a

  • 3)

    Opening statement of affairs is usually prepared to find out the

  • 4)

    The excess of assets over liabilities is

  • 5)

    Which of the following items relating to bills payable is transferred to total creditors account?

12th standard Accounts - Incomplete Records - 1 marks important questiona - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Opening statement of affairs is usually prepared to find out the

  • 3)

    The excess of assets over liabilities is

  • 4)

    The amount of credit sales can be computed from

  • 5)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

12th standard Accounts - Incomplete Records - 2 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000
  • 3)

    State the accounts generally maintained by small sized sole trader when double entry accounting system is not followed.

  • 4)

    Can a limited company maintain its accounts under single entry system?

  • 5)

    Why is statement of affairs prepared under single entry system not referred to as balance sheet?

12th standard Accounts - Incomplete Records- 3 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 2)

    State the differences between double entry system and incomplete records.

  • 3)

    Raju does not keep proper books of accounts. Following details are taken from his records.

    Particulars 1.1.2018
    Rs.
    31.12.2018
    Rs.
    Cash at bank 80,000 90,000
    Stock of goods 1,80,000 1,40,000
    Debtors 90,000 2,00,000
    Sundry creditors 1,30,000 1,95,000
    Bank Loan 60,000 60,000
    Bills payable 80,000 45,000
    Plant and machinery 1,70,000 1,70,000

    During the year he introduced further capital of ` 50,000 and withdrew Rs.2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information

     

  • 4)

    Radhika started a small bakery for providing healthy and good quality bakery product at reasonable prices on 1st January, 2019 with a capital of Rs.1,80,000. She appointed a ten year old boy as a sweeper. She withdrew Rs.60,000 for household expenses. She introduced Rs.20,000as fresh capital. Her position of assets and liabilities as at 31st December, 2019 stood as follows.

      Rs.
    Cash in hand 70,000
    Stock 80,000
    Bills receivable 1,00,000
    Debtors 1,50,000
    Creditors 60,000
    Bills payable 10,000
  • 5)

    Which values are affected, when accounts are maintained on single entry system basis.

12th standard Accounts - Incomplete Records- 5 marks important question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the
    year ending 31st March, 2018.

    Particulars 1.4.2017
    Rs
    31.3.2018
    Rs`
    Bank balance 14,000 (Cr.) 18,000 (Dr.)
    Cash in hand 800 1,500
    Stock 12,000 16,000
    Debtors 34,000 30,000
    Plant 80,000 80,000
    80,000 40,000 40,000
    Creditors 60,000 72,000

    Ahmed had withdrawn 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

  • 2)

    Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31st March, 2019.

    Particulars 31.3.2018
    Rs.
    31.3.2019
    Rs.
    Cash at Bank 5,000 (Dr.) 60,000 (Cr.)
    Cash in hand 3,000 4,500
    Stock of goods 35,000 45,000
    Sundry Debtors 1,00,000 90,000
    Plant and Machinery 80,000 80,000
    Land and Buildings 1,40,000 1,40,000
    Sundry Creditors 1,70,000 1,30,000

    Ananth had withdrawn Rs.60,000 for his personal use. He had introduced Rs.17,000 as capital for expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.

  • 3)

    Calculate the missing information:

    Particulars Rs.
    Closing capital 32,000
    Drawings 4,800
    Additional capital 8,000
    Profit made during the year 9,600

12th standard Accounts Incomplete Records- model question - by 12th Accounts English l Medium - New syllabus 2019 - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    Statement of affairs is a

  • 3)

    The amount of credit sales can be computed from

  • 4)

    Which one of the following statements is not true in relation to incomplete records?

  • 5)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

12th Accountancy - Computerized Accounting System Tally - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    What is automated accounting system?

  • 2)

    What are accounting reports?

  • 3)

    State any five accounting reports.

  • 4)

    What is Accounting Information System (AIS)?

  • 5)

    What is a group in Tally.ERP 9?

12th Accountancy - Ratio Analysis - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    What is meant by accounting ratios?

  • 2)

    What is quick ratio?

  • 3)

    What is meant by debt equity ratio?

  • 4)

    What does return on investment ratio indicate?

  • 5)

    State any two limitations of ratio analysis.

12th Accountancy - Financial Statement Analysis - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

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

    Particulars 2016-17 2017-18
      Rs. Rs.
    Revenue from operations 2,00,000 2,50,000
    Other income 50,000 40,000
    Expenses 1,50,000 1,20,000
  • 2)

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

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    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%
  • 3)

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

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 4,00,000 5,00,000
    Operating expenses 2,00,000 1,80,000
    Income tax (% of the profit before tax) 20 50
  • 4)

    From the following balance sheet of Chandra Ltd, prepare comparative balance sheet as on
    31st March 2016 and 31st March 2017.

    Particulars 31st March 2016 31st March 2017
      Rs. Rs.
    I EQUITY AND LIABILITIES    
    Shareholders’ fund 1,00,000 2,60,000
    Non-current liabilities 50,000 60,000
    Current liabilities 25,000 30,000
    Total 1,75,000 3,50,000
    II ASSETS 1,00,000 2,00,000
    Current assets 75,000 1,50,000
    Total 1,75,000 3,50,000
  • 5)

    From the following particulars, prepare comparative balance sheet of Malar Ltd as on 31st
    March 2016 and 31st March 2017.

    Particulars 31st March 2016 31st March 2017
      RS. Rs.
    I EQUITY AND LIABILITIES    
    1. Shareholders’ fund    
    a) Share capital 2,00,000 2,50,000
    b) Reserves and surplus 50,000 50,000
    2. Non-current liabilities    
    Long-term borrowings 30,000 60,000
    3. Current liabilities    
    Trade payables 20,000 60,000
    Total 3,00,000 4,20,000
    II ASSETS    
    1. Non-current assets    
    a) Fixed assets 1,00,000 1,50,000
    b) Non - current investments 50,000 75,000
    2. Current assets    
    Inventories 75,000 1,50,000
    Cash and cash equivalents 75,000 45,000
    Total 3,00,000 4,20,000

12th Accountancy - Company Accounts - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    Thai Ltd. issued 1,00,000 equity shares of Rs.10 each, payable Rs.5 on application, Rs.2 on allotment Rs.2 on first call and Rs.1 on final call. All the shares are subscribed and amount was duly received. Pass journal entries.

  • 2)

    Joy Company issued 10,000 equity shares at Rs.10 per share payable Rs.5 on application, Rs.3 on allotment and Rs.2 on first and final call. The public subscribed for 9,000 shares. The directors allotted all the 9,000 shares and duly received the money. Pass the necessary journal entries.

  • 3)

    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.

  • 4)

    Khan Ltd. issued 50,000 shares of  Rs.10 each to the public payable Rs.4 on application, Rs.4 on allotment and Rs.2 on first and final call. Applications were received for 65,000 shares. The directors decided to allot 50,000 shares on pro rata basis and surplus application money was utilised for allotment. Pass journal entries assuming that the amounts due were received.

  • 5)

    Sudha Ltd. offered 1,00,000 shares of Rs.10 each to the public payable Rs.3 on application, Rs.4 on share allotment and the balance when required. Applications for 1,40,000 shares were received on which the directors allotted as:
    Applicants for 60,000 shares - Full
    Applicants for 75,000 shares - 40,000 shares (excess money will be utilised for allotment)
    Applicants for 5,000 shares - Nil
    All the money due was received. Pass journal entries upto the receipt of allotment.

12th Accountancy - Retirement and Death of a Partner - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    Vivin, Hari and Joy are partners sharing profits and losses in the ratio of 3:2:1. On 31.3.2017, Hari retired. On the date of retirement, the books of the firm showed a general reserve of Rs. 60,000. Pass the journal entry to transfer the general reserve.

  • 2)

    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.

  • 3)

    Kiran, Vinoth and Vimal are partners sharing profits in the ratio of 5:3:2. Kiran retires and the
    new profit sharing ratio between Vinoth and Vimal is 2:1. Calculate the gaining ratio.

  • 4)

    Rahul, Ravi and Rohit are partners sharing profits and losses in the ratio of 5:3:2. Rohit retires
    and the share is taken by Rahul and Ravi in the ratio of 3:2. Find out the new profit sharing ratio and gaining ratio.

  • 5)

    What is meant by retirement of a partner?

12th Accountancy - Admission of a Partner - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    Suresh and Dinesh are partners sharing profits in the ratio of 3:2. They admit Ramesh as a new partner. Suresh surrenders 1/5 of his share in favour of Ramesh. Dinesh surrenders 2/5 of his share in favour of Ramesh. Calculate the new profit sharing ratio and sacrificing ratio.

  • 2)

    Prasanth and Nisha are partners sharing profits and losses in the ratio of 3:2. They admit Ramya as a new partner. Prasanth surrenders 2/5 of his share and Nisha surrenders 2/5 of her share in favour of Ramya. Calculate the new profit sharing ratio and sacrificing ratio.

  • 3)

    Anil, Sunil and Hari are partners in a firm sharing profits in the ratio of 4:3:3. They admit Raja for 20% profit. Calculate the new profit sharing ratio and sacrificing ratio.

  • 4)

    Ashok and Mumtaj were partners in a firm sharing profits and losses in the ratio of 5:1. They have decided to admit Tharun into the firm for 2/9 share of profits. The goodwill of the firm on the date of admission was valued at Rs.27,000. Tharun is not able to bring in cash for his share of goodwill. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

  • 5)

    Ananth and Suman are partners sharing profits and losses in the ratio of 3:2. They admit Saran for 1/5 share, which he acquires entirely from Ananth. Find out the new profit sharing ratio and sacrificing ratio.

12th Accountancy - Goodwill In Partnership Accounts - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    A partnership firm has decided to value its goodwill for the purpose of settling a retiring partner. The profits of that firm for the last four years were as follows:
    2015: Rs.40,000; 2016: Rs.50,000; 2017: Rs.48,000 and 2018: Rs.46,000
    The business was looked after by a partner. No remuneration was paid to him. The fair remuneration of the partner valued at comes to Rs.6,000 per annum.
    Find out the value of goodwill, if it is valued on the basis of three years purchase of the average profits of the last four years

  • 2)

    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

  • 3)

    The following are the profits of a firm in the last five years:
    2014: Rs.10,000; 2015: Rs.11,000; 2016: Rs.12,000; 2017: Rs.13,000 and 2018: Rs.14,000
    Calculate the value of goodwill at 2 years purchase of average profit of five years.

  • 4)

    From the following information, calculate the value of goodwill on the basis of 3 years purchase of average profits of last four years.

    Year Result Amount
    Rs.
    2015 Profit 5,000
    2016 Profit 8,000
    2017 Loss 3,000
    2018 Profit 6,000
  • 5)

    What is goodwill?

12th Accountancy - Accounts of Partnership Firms-Fundamentals - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    Mannan and Ramesh share profits and losses in the ratio of 3:1. The capital on 1st April 2017 was Rs.80,000 for Mannan and Rs.60,000 for Ramesh and their current accounts show a credit balance of Rs.10,000 and Rs.5,000 respectively. Calculate interest on capital at 5% p.a. for the year ending 31st March 2018 and show the journal entries.

  • 2)

    What is a partnership deed?

  • 3)

    Mannan and Ramesh share profits and losses in the ratio of 3:2 and their capital on 1st April, 2018 was Mannan Rs.1,50,000 and Ramesh Rs.1,00,000 respectively and their current accounts show a credit balance of Rs.25,000 and Rs.20,000 respectively. Calculate interest on capital at 6% p.a. for the year ending 31st March, 2019 and show the journal entries.

  • 4)

    Santhosh is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 6% per annum. During the year ended 31st December, 2018 he withdrew as follows:

    Date Rs.
    February 1 2,000
    May 1 10,000
    July 1 4,000
    October 1 6,000

    Calculate the amount of interest on drawing.

  • 5)

    Ram and Shyam were partners. Ram withdrew Rs.18,000 at the beginning of each half year. Interest on drawings is chargeable @ 10% p.a. Calculate interest on the drawings for the year ending 31st December 2018 using average period.

12th Accountancy - Accounts of Not-For-Profit Organisation - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    From the following details calculate the amount that will be shown as subscription in Income
    and Expenditure Account for the year ending 31st March, 2017.

    Subscription received for Rs.
    2015-16 7,500
    2016-17 60,000
    2017-18 1,500
      69,000

    Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

     

  • 2)

    Compute income from subscription for the year 2018 from the following particulars relating to a club

    Particulars 1.1.2018
    Rs.
    31.12.2018
    Rs.
    Outstanding subscription 10,000 7,000
    Subscription received in advance 3,000 5,000

    Subscription received during the year 2018: Rs.1,50,000

  • 3)

    How will the following items appear in the final accounts of a sports club?

    Particulars Rs.
    Stock of sports materials (01.04.2018) 3,000
    Sports materials purchased during current year 9,000
    Sale of old sport materials during current year 500
    Stock of sports materials (31.03.2019) 4,000
  • 4)

    What is receipts and payments account?

  • 5)

    Give four examples for capital receipts of not–for–profit organisation.

12th Accountancy - Accounts From Incomplete Records - Two Marks Study Materials - by 8682895000 - View & Read

  • 1)

    From the following particulars ascertain profit or loss: 

      Rs.
    Capital at the beginning of the year (1st April, 2016) 2,00,000
    Capital at the end of the year (31st March, 2017) 3,50,000
    Additional capital introduced during the year 70,000
    Drawings during the year 40,000
  • 2)

    Following are the balances of Shanthi as on 31st December 2018.

    Particulars Rs Particulars Rs
    Bills receivable 6,000 Sundry creditors 25,000
    Bills payable 4,000 Stock 45,000
    Machinery 60,000 Debtors 70,000
    Furniture 10,000 Cash 4,000
  • 3)

    Find out credit sales from the following information:

      Rs.
    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
  • 4)

    From the following details find out total sales made during the year.

      Rs
    Debtors on 1st April 2018 50,000
    Cash received from debtors during the year 1,50,000
    Returns inward 15,000
    Bad debts 5,000
    Debtors on 31st March 2019 70,000
    Cash Sales 1,40,000
  • 5)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000

12th Accountancy - Full Portion Five Marks Question Paper - by 8682895000 - View & Read

  • 1)

    From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account.

    Particulars Opening
    Rs.
    Closing
    Rs.
    Debtors 60,000 55,000
    Bills receivable 5,000 1,000
    Creditors 25,000 28,000
    Bills payable 2,000 3,000
    Other information    
    Cash received from debtors   1,30,000
    Discount allowed to customers   5,500
    Cash paid to creditors   70,000
    Discount allowed by suppliers   3,500
    Payments against bill payable   7,000
    Cash received for bills receivable   14,000
    Bills receivable dishonoured   1,200
    Bad debts   3,500
  • 2)

    Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

    Particulars 1-4-2018
    Rs.
    31-3-2019
    Rs.
    Plant and machinery 20,000 20,000
    Stock 9,000 16,000
    Sundry debtors 2,000 5,300
    Sundry creditors 5,000 4,000
    Cash at bank 4,000 6,000

    Other information for the year ending 31-3-2019 showed the following

      Rs.
    Advertising 4,700
    Carriage inwards 8,000
    Cash paid to creditors 64,000
    Drawings 2,000

    Total sales during the year were Rs.85,000. Purchases returns during the year were Rs.2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs.300 for doubtful
    debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a
    balance sheet as on the date.

  • 3)

    Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31st March, 2019 and a
    balance sheet as on that date.

    Dr.                          Cash Book                             Cr.
    Particulars Rs. Particulars Rs.
    To Balance b/d 1,20,000 By Purchases 1,50,000
    To Sales 3,60,000 By Creditors 2,50,000
    To Debtors 3,40,000 By Wages 70,000
        By Sundry expenses 1,27,000
        By Balance c/d 2,23,000
      8,20,000   8,20,000

    Other information

    Particulars 1.4.2018 31.3.2019
    Stock of goods 1,10,000 1,80,000
    Sundry Debtors 1,30,000 ?
    Sundry Creditors 1,60,000 90,000
    Furniture and fittings 80,000 80,000

    Additional information
    Credit purchases 1,80,000
    Credit sales 2,90,000
    Opening capital 2,80,000
    Depreciate furniture and fittings by 10% p.a.

  • 4)

    Compute the amount of total purchases and total sales of Mr. Amit from the following information for the year ending on March 31, 2018.

      Rs.
    Total debtors as on April 01, 2017 40,000
    Total creditors as on April 01,2017 50,000
    Bills receivable as on April 01, 2017 30,000
    Bills payable as on April 01, 2017 45,000
    Discount received 5,000
    Bad debts 2,000
    Return inwards 4,000
    Discount allowed 3,000
    Cash sales 10,000
    Cash purchases 8,000
    Total debtors as on March 31, 2018 80,000
    Cash received from debtors 1,00,000
    Cash paid to creditors 80,000
    Cash received against bills receivable 25,000
    Payment made against bills receivable 40,000
    Total creditors as on March 31, 2018 40,000
    Bills payable as on March 31, 2018 50,000
    Bills receivable as on March 31,2018 35,000
  • 5)

    Following is the receipts and payments accounts of Literacy dub for the year ended 31st March 2016

    Receipts Rs. Rs. Payments Rs.
    To Balance c/d   19,550 By Salary 3,000
          By News papers 2,050
    To Subscribtions     By Electricity bill 1,000
    2014·2015 1,200   By Fixed deposit 20,000
    2015·2016 26,500   (on 1st July, 2015 @  
      500   9% per annum  
        28,200 By Books 10,600
          By Rent 6,800
    To slae old news paper   1,250 By Furniture 10,500
    To Government grants   10,000 By Balance dd 11,200
    To sale of old furniture   5,700    
    (book value Rs.7,000)        
    To interest on fixed deposits   450    
        65,150   65,150

    Additional information:
    (i) Subscription outstanding as on 31st March, 2015 were Rs. 2000 and on 31st March, 2016 Rs.2,500.
    (ii) On 31st March, 2016 Salary outstanding was Rs. 600 and rent outstanding was Rs.1,200.
    (iii) The dub owned furniture Rs. 15,000 and books Rs 7,000 on 1st April, 2015. Prepare income and expenditure account of the dub for the year ended 31st March 2016 and as certain capital fund on 31st March, 2015. Also prepare a balance sheet as on 31st March, 2016.

12th Accountancy - Full Portion Three Marks Question Paper - by 8682895000 - View & Read

  • 1)

    From the following details, calculate the capital as on 31st December 2018:

      Rs
    Capital as on 1st January, 2018 27,500
    Goods taken for the personal use of the proprietor 5,000
    Profit for the year 10,000
  • 2)

    On 1st April 2017, Ganesh started his business with a capital of Rs.75,000. He did not maintain proper book of accounts. Following particulars are available from his books as on 31.03.2018

    Particulars Rs Particulars Rs
    Cash 5,000 Debtors 16,000
    Stock of goods 18,000 Creditors 9,000
    Bills receivable 7,000 Cash at bank 24,000
    Furniture 3,000 Bills payable 6,000
  • 3)

    How is the amount of credit sale ascertained from incomplete records?

  • 4)

    Following are the balances in the books of Thomas as on 31st March 2019.

    Particulars Rs. Particulars Rs.
    Sundry creditors 6,00,000 Bills payable 1,20,000
    Furniture 80,000 Cash in hand 20,000
    Land and building 3,00,000 Bills receivable 60,000
    Sundry Debtors 3,20,000 Stock 2,20,000

    Prepare a statement of affairs as on 31st March 2019 and calculate capital as at that date.

  • 5)

    From the following particulars of Trichy Educational Society, prepare Receipts and Payments
    account for the year ended 31st December, 2018

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.1.2018 20,000 Locker rent received 12,000
    Investments made 80,000 Sale of furniture 5,000
    Honorarium paid 3,000 General expenses 7,000
    Donation received 80,000 Postage 1,000
    Audit fees paid 2,000 Subscription received 10,000

12th Accountancy - Full Portion Two Marks Question Paper - by 8682895000 - View & Read

  • 1)

    Find out credit sales from the following information:

      Rs.
    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)

    From the following particulars, prepare bills receivable account and compute the bills received from the debtors

    Particulars Rs
    Opening bills receivable 20,000
    Closing bills receivable 30,000
    Cash received for bills receivable 60,000
    Bills receivable dishonoured 5,000
  • 3)

    What is a statement of affairs?

  • 4)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000
  • 5)

    Write a short note on life membership fees.

12th Accountancy - Public Exam Model Question Paper 2019 - 2020 - by Kokila - Tirunelveli - View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    In _____ system, only personal and cash accounts are opened.

  • 3)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription
    due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

  • 4)

    ______is a fee collection from every member only once at the time of his or her admission into the organisation.

  • 5)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

12th Accountancy - Computerized Accounting System - Tally Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Contra voucher is used for

  • 2)

    Which is not the default group in Tally?

  • 3)

    Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded

  • 4)

    In 2009, Tally Solutions introduced the software

  • 5)

    In payment voucher, cash or bank account is credited and other ledger account is

12th Accountancy - Ratio Analysis Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Which one of the following is not correctly matched?

  • 3)

    _____ ratios show how efficiently assets or other items have been used to generate revenue from operations.

  • 4)

    Cost of goods sold is Rs.2,00,000. The opening stock in the beginning of the year is Rs.55,000, and the closing stock at the end of the year is Rs.25,000. Therefore the stock turn over ratio is ______________

  • 5)

    Debt Equity Ratio is 3:1, the amount of total assets Rs.20 lacks, current ratio is 1.5:1 and owned funds Rs.3 lacks. What is the amount of current asset?

12th Accountancy - Financial Statement Analysis Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    The term ‘fund’ refers to

  • 2)

    which statements are involve personal judgment in certain cases?

  • 3)

    ______________ information is non monetary information is also important for business decisions.

  • 4)

    Comparison of financial statenients highlights the trend of the ____________ of the business.

  • 5)

    Assertion (A) : Cash flow analysis is concerned with preparation of cash flow statement which shows the inflow and outflow of cash and cash equivalents in a given period of time.
    Reason (R) : Funds flow analysis is useful in judging the credit worthiness, financial planning and preparation of budgets.
    (a) Both (A) and (R) are true and (R) is the correct explanation of (A)
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A)
    (c) (A) is true, but (R) is false
    (d) (A) is false, but (R) is true

12th Accountancy - Company Accounts Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    When shares are issued for purchase of assets, the amount should be credited to

  • 2)

    The capital of companies is divided into small units called

  • 3)

    The capital of a company is divided into small units of

  • 4)

    Issue of equity shares to the public through prospectus by a public company is call

  • 5)

    _____ needed by the company could be raised by inviting the general public to buy shares and invest in the business.

12th Accountancy - Retirement and Death of a Partner Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    If the final amount due to a retiring partner is not paid immediately, it is transferred to

  • 2)

    Profits and losses of previous years which are not distributed to the partners are known as

  • 3)

    O, P, and Q are partners sharing the profits in the ratio of 3:2: 1. If P retires the new profit ratio for O and Q will b

  • 4)

    An account operated to ascertain the loss or gain at the death of a partner is called:

  • 5)

    Hari, Roy and Prasad are partners in the ratio of 3:5:1 respectively. Roy wants to retire. His share is being purchased by Prasad. What would be the new ratio of Hari and Prasad respectively?

12th Accountancy - Admission of a Partner - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following statements is not true in relation to admission of a part

  • 2)

    When the value of an asset increases, it results in

  • 3)

    Old ratio of profit minus sacrifice ratio will be

  • 4)

    _______ is created out of profit to adjust the reduction in the market value of the investments.

  • 5)

    At the time of admission of a new partner, ________ profit ratio should be found out.

12th Accountancy - Goodwill In Partnership Accounts Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 2)

    The monetary value of such advantage is termed as

  • 3)

    The company earns a net profit of Rs. 24,000 with a capital of Rs. 1,20,000. The NRR is 10% under capitalisation of super profit goodwill will be

  • 4)

    Goodwill is not a ________ asset

  • 5)

    (a) Average profit method
    (b) Straight line method
    (c) Super profit
    (d) Capitalisation method

12th Accountancy - Accounts of Partnership Firms-Fundamentals Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 2)

    The profit or loss arising from the partnership business is shared by the partners in the

  • 3)

    In a partnership business, agreement is

  • 4)

    Amount is drawn regularly at the middle of every month during the year. Interest calculated for

  • 5)

    ___________ is a document in writing that contains the terms of the agreement among the partners.

12th Accountancy - Accounts of Not-For-Profit Organisation Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Subscription due but not received for the current year is

  • 2)

    Which of the following is to be recorded in an income and expenditure account?

  • 3)

    Some organisations are established for the purpose of rending services to the public without

  • 4)

    Rent expenses of a non-profit organization paid in advance. Which of the following is the correct classification of rent

  • 5)

    Assertion (A) : Life membership fee is nonrecurring in nature.
    Reason (R) . Admission fee is a fee collected from every member only once at the time of his or her Admission into the organization.
    (a) Both (A) and (R) are true and (R) is the correct explanation of (A)
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A)
    (c) (A) is true but (R) is false.
    (d) (A) is false but (R) is true.

12th Accountancy - Accounts From Incomplete Records Practice Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Statement of affairs is a

  • 2)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000;
    closing balance of debtors is

  • 3)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 4)

    Capital at the end - net profit + drawings = 

  • 5)

    Assertion (A): Double Entry System It maintains only personal and cash accounts.
    Reason (R): Personal accounts are not maintained.
    (a) Both (A) and (R) are true and (R) is the correct explanation (A).
    (b) Both (A) and (R) are true and (R) is not the correct explanation of (A).
    (c) (A) is true, but (R) is false.
    (d) (A) is false, but (R) is true.

12th Accountancy - Admission of a Partner Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    On revaluation, the increase in the value of assets leads to

  • 2)

    Which of the following statements is not true in relation to admission of a part

  • 3)

    When an unrecorded liabilities is brought into books, is results in

  • 4)

    The revaluation profit or loss is transferred to the old partner's capital accounts, in their

  • 5)

    When A and B sharing profits and losses in the ratio of 3:2, they admit C as a partner giving him 1/3 share of profits. This will 'be given by A and B.

12th Accountancy - Goodwill In Partnership Accounts Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Super profit is the difference between

  • 2)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 3)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

  • 4)

    Goodwill is shown under fixed assets in the

  • 5)

    The monetary value of such advantage is termed as

12th Accountancy - Accounts of Partnership Firms-Fundamentals Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 2)

    In the absence of an agreement, partners are entitled to

  • 3)

    The maximum number of partners in a partnership firm is

  • 4)

    The balance in the appropriation account is transferred to the partner's capital account in the

  • 5)

    All the transactions between the partner and the firm are recorded in the

12th Accountancy - Accounts of Not-For-Profit Organisation Important Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Income and expenditure account is a

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    Donations received for a specific purpose is

  • 5)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription
    due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

12th Accountancy - Accounts From Incomplete Records Important Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

  • 3)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit
    made during the year is Rs2,000 and the additional capital introduced is ` 3,000, find out
    the amount of capital at the end

  • 4)

    The total assets of a proprietor are Rs.5,00,000. His liabilities Rs.3,50,000. Then his capital in the business is

  • 5)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

12th Accountancy - Half Yearly Model Question Paper 2019 - by Kokila - Tirunelveli - View & Read

  • 1)

    Which one of the following statements is not true in relation to incomplete records?

  • 2)

    In single entry system profit is calculated as follows:

  • 3)

    Receipts and payments account is a

  • 4)

    Income and expenditure account is a

  • 5)

    _______is prepared to find out the surplus or deficit pertaining to a particular year.

12th Accountancy - Term II Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000;
    closing balance of debtors is

  • 2)

    Receipts and payments account is a

  • 3)

    Income and Expenditure Account is prepared to find out

  • 4)

    Legacy is a

  • 5)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

12th Standard Accountancy - Computerized Accounting System-Tally Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Accounting report prepared according to the requirements of the user is

  • 2)

    Contra voucher is used for

  • 3)

    Salary account comes under which of the following head?

  • 4)

    In which voucher type credit purchase of furniture is recorded in Tally

  • 5)

    In 2009, Tally Solutions introduced the software

12th Accountancy - Ratio Analysis Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Proportion of share holder's funds to total assets is called

  • 3)

    Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is

  • 4)

    If both items in a ratio are from balance sheet, it is classified as

  • 5)

    Which ratio is the proportion of fixed income bearing funds to equity shareholders funds?

12th Standard Accountancy - Financial Statement Analysis Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Which of the following tools of financial statement analysis is suitable when data relating to several years are to be analysed?

  • 2)

    Which of the following is not a tool of financial statement analysis?

  • 3)

    The term ‘fund’ refers to

  • 4)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what
    would be the percentage of current assets?

  • 5)

    Which statement are prepared by the business concerns at the end of the accounting period to ascertain the operating results and the financial position?

12th Accountancy - Company Accounts Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    The amount received over and above the par value is credited to

  • 2)

    When shares are issued for purchase of assets, the amount should be credited to

  • 3)

    If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

  • 4)

    Supreme Ltd. forfeited 100 shares of Rs.10 each for non-payment of final call of Rs.2 per share. All these shares were re-issued at Rs.9 per share. What amount will be transferred to capital reserve account?

  • 5)

    The capital of companies is divided into small units called

12th Accountancy - Retirement and Death of a Partner Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner, general reserve is transferred to the

  • 3)

    ‘ A’ was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is Rs. 25,000 which is not paid immediately. It will be transferred to

  • 4)

    A, B and C are partners sharing profits in the ratio of 2:2:1. On retirement of B, goodwill of the firm was valued as Rs. 30,000. Find the contribution of A and C to compensate B:

  • 5)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

12th Standard Accountancy - Admission of a Partner Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    On revaluation, the increase in the value of assets leads to

  • 3)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 4)

    James and Kamal are sharing profits and losses in the ratio of 5:3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.

  • 5)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

12th Standard Accountancy - Goodwill In Partnership Accounts Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    Super profit is the difference between

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

  • 5)

    Goodwill helps in earning more profit and attracts more

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

  • 5)

    In India, partnership firms are governed by the Indian partnership Act.

12th Standard Accountancy - Accounts of Not-For-Profit Organisation Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following particulars of Tamil Educational Society, prepare Receipts and Payments account for the year ended 31st March, 2019.

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.4.2018 18,000 Building purchased 2,10,000
    Rent paid 6,000 Staff salary 55,000
    Scholarship given 15,200 Subscription received 2,65,000
    Entrance fees received 18,500    
  • 2)

    How will the following items appear in the final accounts of a club for the year ending 31st March 2017? A club received subscription of Rs. 25,000 during the year 2016-17. This includes subscription of Rs. 2,000 for 2015-16 and Rs. 1,500 for the year 2017-18. Subscription of Rs.500 is still outstanding for the year 2016-17.

  • 3)

    What is income and expenditure account?

  • 4)

    State the differences between Receipts and Payments Account and Income and Expenditure Account

  • 5)

    How annual subscription is dealt with in the final accounts of not–for–profit organisation?

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Arul is a partner in a partnership firm. As per the partnership deed, interest on drawings is charged at 12% p.a. During the year ended 31st December 2018 he drew as follows:

    Date Rs.
    March 1 3,000
    June 1 3,000
    September 1 3,000
    December 1 3,000

    Calculate the amount of interest on drawings. 

  • 2)

    Syed, Samuel and Sudhakar are partners in a firm sharing profits and losses equally. As per the terms of the partnership deed, Samuel is allowed a monthly salary of Rs.2,000 and Sudhakar is allowed a commission of Rs.6,000 per annum for their contribution to the business of the firm. You are required to pass the necessary journal entry. Assume that their capitals are fluctuating.

  • 3)

    Arulappan and Nallasamy are partners in a firm sharing profits and losses in the ratio of 4:1. On 1st January 2018, their capitals were Rs.20,000 and Rs.10,000 respectively. The partnership deed specifies the following:
    (a) Interest on capital is to be allowed at 5% per annum.
    (b) Interest on drawings charged to Arulappan and Nallasamy are Rs.200 and Rs.300 respectively.
    (c) The net profit of the firm before considering interest on capital and interest on drawings
    amounted to Rs.18,000.
    Give necessary journal entries and prepare Profit and loss appropriation account for the year ending 31st December 2018. Assume that the capitals are fluctuating.

  • 4)

    The capital account of Begum and Fatima on 1st January, 2018 showed a balance of Rs.50,000 and Rs.40,000 respectively. On 1st October, 2018, Begum introduced an additional capital of Rs.10,000 and on 1st May, 2018 Fatima introduced an additional capital of Rs.9,000. Calculate interest on capital at 4% p.a. for the year ending 31st December, 2018.

  • 5)

    Anand and Narayanan are partners in a firm sharing profits and losses in the ratio of 5:3. On 1st January 2018, their capitals were Rs.50,000 and Rs.30,000 respectively. The partnership deed specifies the following:
    (a) Interest on capital is to be allowed at 6% per annum.
    (b) Interest on drawings charged to Anand and Narayanan are Rs.1,000 and Rs.800 respectively.
    (c) The net profit of the firm before considering interest on capital and interest on drawings amounted to  Rs.35,000.
    Give necessary journal entries and prepare profit and loss appropriation account as on 31st December 2018. Assume that the capitals are fluctuating.

12th Standard Accountancy - Goodwill In Partnership Accounts Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following information relating to Arul enterprises, calculate the value of goodwill on the basis of 2 years purchase of the average profits of 3 years.
    (a) Profits for the years ending 31st December 2016, 2017 and 2018 were Rs.46,000, Rs.44,000 and Rs.50,000 respectively.
    (b) A non-recurring income of Rs.5,000 is included in the profits of the year 2016.
    (c) The closing stock of the year 2017 was overvalued by Rs.10,000.

  • 2)

    The following particulars are available in respect of a business carried on by a partnership firm:
    (a) Profits earned: 2016: Rs.30,000; 2017: Rs.29,000 and 2018: Rs.32,000.
    (b) Profit of 2016 includes a non-recurring income of Rs.3,000.
    (c) Profit of 2017 is reduced by Rs.2,000 due to stock destroyed by fire.
    (d) The stock is not insured. But, it is decided to insure the stock in future. The insurance premium is estimated at Rs.5,600 per annum.
    You are required to calculate the value of goodwill on the basis of 2 years purchase of average profits of the last three years.

  • 3)

    From the following information relating to a partnership firm, find out the value of its goodwill based on 3 years purchase of average profits of the last 4 years:
    (a) Profits of the years 2015, 2016, 2017 and 2018 are Rs.10,000, Rs.12,500, Rs.12,000 and
    Rs.11,500 respectively.
    (b) The business was looked after by a partner and his fair remuneration amounts to Rs.1,500
    per year. This amount was not considered in the calculation of the above profits.

  • 4)

    How is the value of goodwill calculated under the capitalisation method?

  • 5)

    What is the nature of goodwill?

12th Standard Accountancy - Retirement and Death of a Partner Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Prince, Dev and Sasireka are partners in a firm sharing profits and losses in the ratio of 2:4:1. Their balance sheet as on 31st March, 2019 is as follows:
     

    Liabilities Rs. Rs. Assets Rs.
    Capital accounts     Buildings 40,000
    Prince 30,000   Plant 50,000
    Dev 50,000   Furniture 10,000
    Sasireka 20,000 1,00,000 Stock 15,000
    Profit and loss appropriation A/c   10,000 Debtors 20,000
    General reserve   15,000 Cash at bank 15,000
    Workmen compensation fund   17,000    
    Sundry creditors   8,000    
        1,50,000   1,50,000
  • 2)

    Ramya, Sara and Thara are partners sharing profits and losses in the ratio of 5:3:2.
    On 1st April 2018, Thara retires and on retirement, the following adjustments are agreed upon:
    (i) Increase the value of premises by Rs. 40,000.
    (ii) Depreciate stock by ` 3,000 and machinery by Rs. 6,500.
    (iii) Provide an outstanding liability of Rs. 500
    Pass journal entries and prepare revaluation account.

  • 3)

    Justina, Navi and Rithika are partners sharing profits and losses equally. On 31.3.2019, Rithika retired from the partnership firm. Profits of the preceding years is as follows:
    2016: Rs. 5,000; 2017: Rs. 10,000 and 2018: Rs. 30,000
    Find out the share of profit of Ritika for the year 2019 till the date of retirement if
    (a) Profit is to be distributed on the basis of the previous year’s profit
    (b) Profit is to be distributed on the basis of the average profit of the past 3 years
    Also pass necessary journal entries by assuming that partners’ capitals are fluctuating. Accountancy

  • 4)

    Rathna, Baskar and Ibrahim are partners sharing profits and losses in the ratio of 2:3:4 respectively. Rathna died on 31st December, 2018. Final amount due to her showed a credit
    balance of Rs. 1,00,000. Pass journal entries if,
    (a) The amount due is paid off immediately by cheque.
    (b) The amount due is not paid immediately.
    (c) Rs. 60,000 is paid immediately by cheque.

  • 5)

    List out the adjustments made at the time of retirement of a partner in a partnership firm.

12th Accountancy - Company Accounts Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Muthu was holding 20 equity shares of Rs.10 each on which he paid Rs.2 on application but could not pay Rs.3 on allotment and Rs.1 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.

  • 2)

    Anu Company forfeited 200 equity shares of Rs.10 each issued at par held by Thiyagu for nonpayment of the final call of  Rs.3 per share. The shares were reissued to Laxman at Rs.6 per share. Show the journal entries for forfeiture and reissue.

  • 3)

    Gemini Ltd. forfeited 20 equity shares of Rs.10 each, Rs.7 called up, on which Mahesh had paid application and allotment money of Rs.5 per share. Of these 15 shares were reissued to Naresh by receiving Rs.6 per share paid up as rs.7 per share. Pass journal entries for forfeiture and reissue.

  • 4)

    State the differences between preference shares and equity shares.

  • 5)

    Write a brief note on calls in advance.

12th Accountancy Chapter 9 Ratio Analysis Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Explain the traditional classifications of ratio analysis.

  • 2)

    What is functional classifications of rational analysis? and types of functional classification.

  • 3)

    Write a note an Long-term solvency ratios.

  • 4)

    Write a short note on
    (i) Proprietary ratio
    (ii) Capital gearing ratio

  • 5)

    What do you mean by debt collection period?

12th Accountancy Chapter 8 Financial Statement Analysis 3 Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following particulars of Kumar Ltd, prepare a common-size income statement for
    the year ended 31st March, 2018.

    Particulars 2017-18
      RS.
    Revenue from operations 5,00,000
    Other income 20,000
    Expenses 3,00,000
  • 2)

    From the following particulars of Mani Ltd an Kani Ltd prepare a common-size income
    statement for the year ended 31st March, 2019

    Particulars Mani Ltd Kani Ltd
      Rs. Rs.
    Revenue from operations 2,00,000 2,50,000
    Other income 30,000 25,000
    Expenses 1,10,000 1,25,000
  • 3)

    From the following particulars of Siva Ltd, prepare common size income statement for the
    years ended 31st March, 2016 and 31st March, 2017.

    Particulars 2015-16 2016-17
      Rs. Rs.
    Revenue from operations 2,00,000 3,00,000
    Other income 25,000 75,000
    Expenses 2,50,000 1,50,000
    Income tax % 40 40
  • 4)

    Prepare common-size balance sheet of Maria Ltd. as on 31st March, 2018.

    Particulars 31st March 2018
      Rs.
    I EQUITY AND LIABILITIES  
    Shareholders’ funds 4,00,000
    Non-current liabilities 3,20,000
    Current liabilities 80,000
    Total 8,00,000
    II ASSETS  
    Non-current assets 6,00,000
    Current assets 2,00,000
    Total 8,00,000
  • 5)

    Prepare common-size balance sheet of Sharmila Ltd. and Sangeetha Ltd. as on 31st March,
    2019.

    Particulars Sharmila Ltd Sangeetha Ltd
      Rs. Rs.
    I EQUITY AND LIABILITIES    
    Shareholders’ funds 5,00,000 11,00,000
    Non-current liabilities 4,00,00 7,00,000
    Current liabilities 1,00,000 2,00,000
    Total 10,00,000 20,00,000
    II ASSETS    
    Non-current assets 6,50,000 18,00,000
    Current assets 3,50,000 2,00,000
    Total 10,00,000 20,00,000

12th Accountancy Unit 5 Admission of a Partner Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Amudha and Bhuvana are partners who share profits and losses in the ratio of 5:3. Chithra joins the firm on 1st January, 2019 for 3/8 share of profits and brings in cash for her share of goodwill of Rs.8,000. Pass necessary journal entry for adjusting goodwill on the assumption that the fluctuating capital method is followed and the partners withdraw the entire amount of their share of goodwill.

  • 2)

    Arun, Babu and Charles are partners sharing profits and losses equally. They admit Durai into partnership for 1/4 share in future profits. The goodwill of the firm is valued at Rs.36,000 and Durai brought cash for his share of goodwill. The existing partners withdraw half of the amount of their share of goodwill. Pass necessary journal entries on the assumption that the fluctuating capital method is followed.

  • 3)

    Vasu and Devi are partners sharing profits and losses in the ratio of 3:2. They admit Nila into partnership for 1/4 share of profit. Nila pays cash ` 3,000 towards her share of goodwill. The new ratio is 3:3:2. Pass necessary journal entry on the assumption that the fixed capital system is followed.

  • 4)

    Sathish and Sudhan are partners in a firm sharing profits and losses in the ratio of 4:3. On 1st April 2018, they admitted Sasi as a partner. On the date of Sasi’s admission, goodwill appeared in the books of the firm at ` 35,000. By assuming fluctuating capital account, pass the necessary journal entry if the partners decide to
    (i) write off the entire amount of existing goodwill
    (ii) write off Rs.21,000 of the existing goodwill

  • 5)

    What are the journal entries to be passed on revaluation of assets and liabilities?

12th Accountancy Unit 1 Accounts From Incomplete Records Three Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following particulars ascertain profit or loss:

      Rs.
    Capital as on 1st April 2018 1,60,000
    Capital as on 31st March, 2019 1,50,000
    Additional capital introduced during the year 25,000
    Drawings made during the year 30,000
  • 2)

    From the following details, calculate the missing figure:

      Rs
    Capital as on 1st April, 2017 2,50,000
    Capital as on 31st March, 2018 2,75,000
    Additional capital introduced during the year 30,000
    Profit for the year 15,000
    Drawings during the year ?
  • 3)

    David does not keep proper books of accounts. Following details are given from his records

    Particulars 1.4.2018
    Rs
    31.3.2019
    Rs
    Cash 43,000 29,000
    Stock of goods 1,20,000 1,30,000
    Sundry debtors 84,000 1,10,000
    Sundry creditors 1,05,000 1,02,000
    Loan 25,000 20,000
    Business premises 2,50,000 2,50,000
    Furniture 33,000 45,000

    During the year he introduced further capital of Rs. 45,000 and withdrew Rs. 2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information.

  • 4)

    State the differences between double entry system and incomplete records.

  • 5)

    State the procedure for calculating profit or loss through statement of affairs.

12th Accountancy - Accounts of Not-For-Profit Organisation Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Subscription due but not received for the current year is

  • 3)

    Legacy is a

  • 4)

    Subscription received but not yet earned is considered as a /an

  • 5)

    Income and Expenditure accounts show

12th Accountancy - Accounts From Incomplete Records Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    The amount of credit sales can be computed from

  • 3)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000;
    closing balance of debtors is

  • 4)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

  • 5)

    The capital of a business is ascertained by preparing

12th Standard Accountancy - Computerized Accounting System-Tally Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    What is automated accounting system?

  • 2)

    What are accounting reports?

  • 3)

    State any five accounting reports.

  • 4)

    What is Accounting Information System (AIS)?

  • 5)

    What is a group in Tally.ERP 9?

12th Standard Accountancy - Ratio Analysis Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    What is quick ratio?

  • 2)

    What is meant by debt equity ratio?

  • 3)

    Following is the balance sheet of Magesh Ltd. as on 31st March, 2019:

    Particulars Rs.
    I EQUITY AND LIABILITIES  
    1. Shareholders’ funds  
      Equity share capital 2,00,000
    2. Non-current liabilities  
      Long term borrowings 50,000
    3. Current liabilities  
      (a) Short-term borrowings 17,000
      (b) Trade payables 25,000
      (c) Other current liabilities  
         Expenses payable 3,000
      (d) Short-term provisions 5,000
    Total 3,00,000
    II ASSETS Rs.
    1. Non-current assets  
    Fixed assets  
      (a) Tangible assets 1,50,000
      (b) Trade receivables 70,000
      (c) Cash and cash equivalents 30,000
      (d) Other current assets  
         Prepaid expenses 5,000
    Total 3,00,000

    Calculate:
    (i) Current ratio
    (ii) Quick ratio

  • 4)

    From the following information calculate capital gearing ratio:

    Balance Sheet (Extract) as on 31.03.2018
    Particulars Rs.
    I EQUITY AND LIABILITIES  
    1. Shareholders' funds  
      (a) Share capital  
        Equity share capital 2,00,000
        6% Preference share capital 1,00,000
      (b) Reserves and surplus  
        General reserve 1,25,000
        Surplus 75,000
    2. Non-current liabilities  
        Long-term borrowings (8% Debentures) 2,00,000
    3. Current liabilities  
        Trade payables 1,50,000
        Provision for tax 50,000
    Total 9,00,000
  • 5)

    Definition of ratio analysis.

12th Accountancy Chapter 8 Financial Statement Analysis Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

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

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    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%
  • 2)

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

    Particulars 2015-16
    Rs.
    2016-17
    Rs.
    Revenue from operations 4,00,000 5,00,000
    Operating expenses 2,00,000 1,80,000
    Income tax (% of the profit before tax) 20 50
  • 3)

    List the tools of financial statement analysis.

  • 4)

    What is working capital?

  • 5)

    When is trend analysis preferred to other tools?

12th Accountancy - Term 1 Model Question Paper - by Koshi Nath - Kovilpatti - View & Read

  • 1)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

  • 2)

    _____ is suitable only for sole traders and partnership firms.

  • 3)

    Statement of assets & liabilities prepared under double entry system is called:

  • 4)

    Legacy is a

  • 5)

    Which of the following is shown in Profit and loss appropriation account?

12th Standard Accountancy Unit 7 Company Accounts Two Marks Question - by Kokila - Tirunelveli - View & Read

  • 1)

    Thai Ltd. issued 1,00,000 equity shares of Rs.10 each, payable Rs.5 on application, Rs.2 on allotment Rs.2 on first call and Rs.1 on final call. All the shares are subscribed and amount was duly received. Pass journal entries.

  • 2)

    Joy Company issued 10,000 equity shares at Rs.10 per share payable Rs.5 on application, Rs.3 on allotment and Rs.2 on first and final call. The public subscribed for 9,000 shares. The directors allotted all the 9,000 shares and duly received the money. Pass the necessary journal entries.

  • 3)

    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.

  • 4)

    Sudha Ltd. offered 1,00,000 shares of Rs.10 each to the public payable Rs.3 on application, Rs.4 on share allotment and the balance when required. Applications for 1,40,000 shares were received on which the directors allotted as:
    Applicants for 60,000 shares - Full
    Applicants for 75,000 shares - 40,000 shares (excess money will be utilised for allotment)
    Applicants for 5,000 shares - Nil
    All the money due was received. Pass journal entries upto the receipt of allotment.

  • 5)

    Jeyam Tyres issued 15,000 ordinary shares of  Rs.10 each payable as follows:
    Rs.3 on application; Rs.5 on allotment; Rs.2 on first and final call. All money were duly received except one shareholder holding 100 shares failed to pay the call money. Pass the necessary journal entries for call (using calls in arrear account).

12th Accountancy - Retirement and Death of a Partner Two Marks Question - by Kokila - Tirunelveli - View & Read

  • 1)

    Vivin, Hari and Joy are partners sharing profits and losses in the ratio of 3:2:1. On 31.3.2017, Hari retired. On the date of retirement, the books of the firm showed a general reserve of Rs. 60,000. Pass the journal entry to transfer the general reserve.

  • 2)

    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.

  • 3)

    Arya, Benin and Charles are partners sharing profits and losses in the ratio of 3:3:2. Charles
    retires and his share is taken up by Arya. Calculate the new profit sharing ratio and gaining
    ratio of Arya and Benin

  • 4)

    Rahul, Ravi and Rohit are partners sharing profits and losses in the ratio of 5:3:2. Rohit retires
    and the share is taken by Rahul and Ravi in the ratio of 3:2. Find out the new profit sharing ratio and gaining ratio.

  • 5)

    Suresh, Senthamarai and Raj were partners in a firm sharing profits and losses in the ratio of 3:2:1. Suresh retired from partnership. The goodwill of the firm on the date of retirement was valued at Rs. 36,000. Pass necessary journal entries for goodwill on the assumption that the fluctuating capital system is followed.

12th Accountancy - Admission of a Partner Two Marks Question - by Kokila - Tirunelveli - View & Read

  • 1)

    Mala and Vimala were partners sharing profits and losses in the ratio of 3:2. On 31.3.2017, Varshini was admitted as a partner. On the date of admission, the book of the firm showed a reserve fund of Rs.50,000. Pass the journal entry to distribute the reserve fund.

  • 2)

    Ravi and Kumar share profits and losses in the ratio of 7:3. Christy is admitted as a new partner with 3/7 share which he acquires 2/7 from Ravi and 1/7 from Kumar. Calculate the new profit sharing ratio and sacrificing ratio.

  • 3)

    Suresh and Dinesh are partners sharing profits in the ratio of 3:2. They admit Ramesh as a new partner. Suresh surrenders 1/5 of his share in favour of Ramesh. Dinesh surrenders 2/5 of his share in favour of Ramesh. Calculate the new profit sharing ratio and sacrificing ratio.

  • 4)

    Prasanth and Nisha are partners sharing profits and losses in the ratio of 3:2. They admit Ramya as a new partner. Prasanth surrenders 2/5 of his share and Nisha surrenders 2/5 of her share in favour of Ramya. Calculate the new profit sharing ratio and sacrificing ratio.

  • 5)

    Mahesh and Dhanush are partners sharing profits and losses in the ratio of 2:1. Arun is admitted for 1/4 share which he acquired equally from both Mahesh and Dhanush. Calculate the new profit sharing ratio and sacrificing ratio.

12th Accountancy Chapter 4 Goodwill In Partnership Accounts Two Marks Question - by Kokila - Tirunelveli - View & Read

  • 1)

    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

  • 2)

    From the following information, calculate the value of goodwill on the basis of 3 years purchase of average profits of last four years.

    Year Result Amount
    Rs.
    2015 Profit 5,000
    2016 Profit 8,000
    2017 Loss 3,000
    2018 Profit 6,000
  • 3)

    What is goodwill?

  • 4)

    What is super profit?

  • 5)

    What is normal rate of return?

12th Accountancy Unit 1 Accounts of Partnership Firms-Fundamentals Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Mannan and Ramesh share profits and losses in the ratio of 3:1. The capital on 1st April 2017 was Rs.80,000 for Mannan and Rs.60,000 for Ramesh and their current accounts show a credit balance of Rs.10,000 and Rs.5,000 respectively. Calculate interest on capital at 5% p.a. for the year ending 31st March 2018 and show the journal entries.

  • 2)

    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.

  • 3)

    Rajan is a partner who withdrew Rs.30,000 during the year 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December, 2018.

  • 4)

    Priya and Kavitha are partners. Priya draws Rs.4,000 at the end of each quarter. Interest on drawings is chargeable at 6% p.a. Calculate interest on drawings for the year ending 31st December 2018 using average period.

  • 5)

    Define partnership.

12th Accountancy - Accounts of Not-For-Profit Organisation Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following details calculate the amount that will be shown as subscription in Income
    and Expenditure Account for the year ending 31st March, 2017.

    Subscription received for Rs.
    2015-16 7,500
    2016-17 60,000
    2017-18 1,500
      69,000

    Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

     

  • 2)

    Compute income from subscription for the year 2018 from the following particulars relating to a club

    Particulars 1.1.2018
    Rs.
    31.12.2018
    Rs.
    Outstanding subscription 10,000 7,000
    Subscription received in advance 3,000 5,000

    Subscription received during the year 2018: Rs.1,50,000

  • 3)

    How will the following appear in the final accounts of a club for the year 2017 –2018?

    Particulars Rs.
    Prize fund on 1.4.2017 60,000
    Prize fund investment on 1.4.2017 60,000
    Interest received on prize fund investment 6,000
    Prizes distributed 8,000
    Donation received for prize fund 12,000
  • 4)

    State the meaning of not–for–profit organisation

  • 5)

    What is receipts and payments account?

12th Accountancy - Accounts From Incomplete Records Two Marks Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    From the following details find out total sales made during the year.

      Rs
    Debtors on 1st April 2018 50,000
    Cash received from debtors during the year 1,50,000
    Returns inward 15,000
    Bad debts 5,000
    Debtors on 31st March 2019 70,000
    Cash Sales 1,40,000
  • 2)

    What is meant by incomplete records?

  • 3)

    State the accounts generally maintained by small sized sole trader when double entry accounting system is not followed.

  • 4)

    From the following particulars ascertain profit or loss

    Particulars Rs.
    Capital as on 1st January 2018 2,20,000
    Capital as on 31st December 2018 1,80,000
    Additional capital introduced during the year 40,000
    Drawings made during the year 50,000
  • 5)

    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

12th Accountancy - Term 1 Five Mark Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the
    year ending 31st March, 2018.

    Particulars 1.4.2017
    Rs
    31.3.2018
    Rs`
    Bank balance 14,000 (Cr.) 18,000 (Dr.)
    Cash in hand 800 1,500
    Stock 12,000 16,000
    Debtors 34,000 30,000
    Plant 80,000 80,000
    80,000 40,000 40,000
    Creditors 60,000 72,000

    Ahmed had withdrawn 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

  • 2)

    Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31st March, 2019.

    Particulars 31.3.2018
    Rs.
    31.3.2019
    Rs.
    Cash at Bank 5,000 (Dr.) 60,000 (Cr.)
    Cash in hand 3,000 4,500
    Stock of goods 35,000 45,000
    Sundry Debtors 1,00,000 90,000
    Plant and Machinery 80,000 80,000
    Land and Buildings 1,40,000 1,40,000
    Sundry Creditors 1,70,000 1,30,000

    Ananth had withdrawn Rs.60,000 for his personal use. He had introduced Rs.17,000 as capital for expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.

  • 3)

    From the following particulars of Chennai Sports Club, prepare Receipts and Payments
    account for the year ended 31st March, 2018.

    Particulars Rs. Particulars Rs. Rs.
    Opening cash balance as on 1.4.2017 10,000 Subscriptions received    
    Opening bank balance as on 1.4.2017 15,000 2016 – 2017 4,500  
    Interest paid 5,000 2017 – 2018 65,000  
    Telephone expenses 7,000 2018 – 2019 5,000 74,500
    Upkeep of grounds 22,500 Tournament expenses   12,500
    Life membership fees received 5,500 Tournament fund receipts   15,000
    Bats and balls purchased 13,000 Closing balance of cash
    (31.3.2018)
      5,000
  • 4)

    From the following Receipts and Payment account and from the information given below of Ramanathapuram Sports Club, prepare Income and Expenditure account for the year ended 31st December, 2018 and the balance sheet as on that dat

    Receipts Rs. Rs. Payments Rs. Rs.
    To Balance b/d     By Rent   11,000
    Cash in hand 5,000   By Entertainment    
    Cash at bank 10,000 15,000 expenses   11,200
    To Subscription     By Furniture   10,000
    2017 12,000   By Sports materials    
    2018 33,000   purchased   13,000
    2019 16,000 61,000 By Match expenses   12,000
    To Entrance fees   6,000 By Investments made   28,000
    To General donations   7,000 By Balance c/d    
    To Sale of old sports     Cash in hand 1,300  
    materials   1,000 Cash at bank 4,000 5,300
    To Miscellaneous          
    receipts   500      
        90,500     90,500

    Additional information:
    (i) Capital fund as on 1st January 2018 `Rs30,000.
    (ii) Opening stock of sports materialRs. 3,000 and closing stock of sports material Rs 5,000.

  • 5)

    Durai and Velan entered into a partnership agreement on 1st April 2018, Durai contributing Rs.25,000 and Velan ` 30,000 as capital. The agreement provided that:
    (a) Profits and losses to be shared in the ratio 2:3 as between Durai and Velan.
    (b) Partners to be entitled to interest on capital @ 5% p.a.
    (c) Interest on drawings to be charged Durai: Rs.300 Velan: Rs.450
    (d) Durai to receive a salary of Rs.5,000 for the year, and
    (e) Velan to receive a commission of Rs.2,000
    During the year, the firm made a profit of Rs.20,000 before adjustment of interest, salary and commission. Prepare the Profit and loss appropriation account.

12th Accountancy Quarterly Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Incomplete records are generally maintained by

  • 2)

    The amount of credit sales can be computed from

  • 3)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit
    made during the year is Rs2,000 and the additional capital introduced is ` 3,000, find out
    the amount of capital at the end

  • 4)

    Under the net worth method, the basis for ascertaining the profit is

  • 5)

    In single entry system of accounting 

TN 12th Standard Accountancy Official Model Question Paper 2019 - 2020 - by Kokila - Tirunelveli - View & Read

12th Accountancy - Financial Statement Analysis Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following statements is not true?

  • 2)

    The term ‘fund’ refers to

  • 3)

    Which of the following statements is not true?

  • 4)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what
    would be the percentage of current assets?

  • 5)

    Expenses for a business for the first year were ` 80,000. In the second year, it was
    increased to Rs. 88,000. What is the trend percentage in the second year?

12th Accountancy Unit 9 Ratio Analysis Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Proportion of share holder's funds to total assets is called

  • 3)

    Which one of the following is not correctly matched?

  • 4)

    Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is

  • 5)

    Cost of revenue from operations Rs. 3,00,000; Inventory in the beginning of the year Rs. 60,000; Inventory at the close of the year Rs. 40,000. Inventory turnover ratio is

12th Accountancy Chapter 10 Computerized Accounting System-Tally Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Accounting report prepared according to the requirements of the user is

  • 2)

    Salary account comes under which of the following head?

  • 3)

    Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded

  • 4)

    In which voucher type credit purchase of furniture is recorded in Tally

  • 5)

    Which of the following options is used to view Trial Balance from Gateway of Tally?

12th Standard Accountancy Chapter 7 Company Accounts Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

  • 2)

    Which of the following statement is false?

  • 3)

    When shares are issued for purchase of assets, the amount should be credited to

  • 4)

    Match the pair and identify the correct option

    (1) Under subscription (i) Amount prepaid for calls
    (2) Over subscription (ii) Subscription above the offered shares
    (3) Calls in arrear (iii) Subscription below the offered shares
    (4) Calls in advance (iv) Amount unpaid on calls
  • 5)

    If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

12th Standard Accountancy - Retirement and Death of a Partner Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner, general reserve is transferred to the

  • 3)

    ‘ A’ was a partner in a partnership firm. He died on 31st March 2019. The final amount due to him is Rs. 25,000 which is not paid immediately. It will be transferred to

  • 4)

    A, B and C are partners sharing profits in the ratio of 4:2:3. Cretires. The new profit sharing ratio between A and B will be

  • 5)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

12th Standard Accountancy Unit 5 Admission of a Partner Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 2)

    Which of the following statements is not true in relation to admission of a part

  • 3)

    Select the odd one out

  • 4)

    James and Kamal are sharing profits and losses in the ratio of 5:3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.

  • 5)

    Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

12th Standard Accountancy - Accounts of Partnership Firms-Fundamentals Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    Which of the following is the incorrect pair?

  • 3)

    In the absence of an agreement, partners are entitled to

  • 4)

    Pick the odd one out

  • 5)

    Profit after interest on drawings, interest on capital and remuneration is Rs.10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

12th Standard Accountancy - Goodwill In Partnership Accounts Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    The average rate of return of similar concerns is considered as

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 5)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

12th Standard Accountancy Unit 2 Accounts of Not-For-Profit Organisation Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    Income and Expenditure Account is prepared to find out

  • 2)

    Which of the following should not be recorded in the income and expenditure account?

  • 3)

    Legacy is a

  • 4)

    Donations received for a specific purpose is

  • 5)

    There are 500 members in a club each paying Rs.100 as annual subscription. Subscription
    due but not received for the current year is Rs.200; Subscription received in advance is Rs.300.Find out the amount of subscription to be shown in the income and expenditure account

12th Standard Accountancy Unit 1 Accounts From Incomplete Records Book Back Questions - by Kokila - Tirunelveli - View & Read

  • 1)

    The amount of credit sales can be computed from

  • 2)

    Which one of the following statements is not true in relation to incomplete records?

  • 3)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

  • 4)

    When capital in the beginning is Rs 10,000, drawings during the year is Rs.6,000, profit
    made during the year is Rs2,000 and the additional capital introduced is ` 3,000, find out
    the amount of capital at the end

  • 5)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000;
    closing balance of debtors is

12th Standard Accountancy - Ratio Analysis One Mark Question with Answer Key - by Kokila - Tirunelveli - View & Read

  • 1)

    The mathematical expression that provides a measure of the relationship between two figures is called

  • 2)

    Current ratio indicates

  • 3)

    All solvency ratios are expressed in term of

  • 4)

    All activity ratios are expressed in terms of

  • 5)

    All profitability ratios are expressed in terms of

12th Standard Accountancy - Financial Statement Analysis One Mark Question and Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following statements is not true?

  • 2)

    Balance sheet provides information about the financial position of a business concern

  • 3)

    Which of the following statements is not true?

  • 4)

    A limited company’s sales has increased from Rs.1,25,000 to Rs.1,50,000. How does this
    appear in comparative income statement?

  • 5)

    In a common-size balance sheet, if the percentage of non-current assets is 75, what
    would be the percentage of current assets?

12th Accountancy - Company Accounts One Mark Question with Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

  • 2)

    Which of the following statement is false?

  • 3)

    When shares are issued for purchase of assets, the amount should be credited to

  • 4)

    The money raised by issuing shares is called

  • 5)

    Profits are distributed among the shareholders in the form of

12th Accountancy Chapter 4 Goodwill In Partnership Accounts One Mark Question and Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    Which of the following statements is true?

  • 2)

    Super profit is the difference between

  • 3)

    When the average profit is Rs.25,000 and the normal profit is Rs.15,000, super profit is

  • 4)

    Book profit of 2017 is Rs.35,000; non-recurring income included in the profit is Rs.1,000 and abnormal loss charged in the year 2017 was Rs.2,000, then the adjusted profit is

  • 5)

    The total capitalised value of a business is Rs.1,00,000; assets are Rs.1,50,000 and liabilities are Rs.80,000. The value of goodwill as per the capitalisation method will be

12th Accountancy Unit 5 Admission of a Partner One Mark Question and Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    Revaluation A/c is a

  • 2)

    On revaluation, the increase in the value of assets leads to

  • 3)

    The profit or loss on revaluation of assets and liabilities is transferred to the capital account of

  • 4)

    At the time of admission, the goodwill brought by the new partner may be credited to the capital accounts of

  • 5)

    Revaluation account is also called

12th Accountancy Chapter 6 Retirement and Death of a Partner One Mark Question and Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    On retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners in the

  • 3)

    If the final amount due to a retiring partner is not paid immediately, it is transferred to

  • 4)

    A partner who retires from the firm is called an

  • 5)

    Profits and losses of previous years which are not distributed to the partners are known as

12th Accountancy Unit 3 Accounts of Partnership Firms - Fundamentals One Mark Question and Answer - by Kokila - Tirunelveli - View & Read

  • 1)

    In the absence of a partnership deed, profits of the firm will be shared by the partners in

  • 2)

    In the absence of an agreement among the partners, interest on capital is

  • 3)

    As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is

  • 4)

    Which of the following is the incorrect pair?

  • 5)

    In the absence of an agreement, partners are entitled to

12th Standard Accountancy Unit 1 Accounts of Not - For - Profit Organisation One Mark Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Receipts and payments account is a

  • 2)

    Receipts and payments account records receipts and payments of

  • 3)

    Subscription due but not received for the current year is

  • 4)

    Legacy is a

  • 5)

    Donations received for a specific purpose is

12th Accountancy Chapter 1 Accounts From Incomplete Records One Mark Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    Statement of affairs is a

  • 2)

    What is the amount of capital of the proprietor, if his assets are ` 85,000 and liabilities are `21,000?

  • 3)

    Opening balance of debtors: Rs 30,000, cash received:Rs 1,00,000, credit sales: Rs90,000;
    closing balance of debtors is

  • 4)

    The different between the total of assets and total of liabilities is taken as

  • 5)

    A firm has assets worth Rs.60,000 and capital Rs.45,000.Then it's liabilities is

12th Accountancy Company Accounts Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    The amount received over and above the par value is credited to

  • 2)

    Which of the following statement is false?

  • 3)

    In order to meet them production must be carried on a

  • 4)

    The capital of a company is divided into small units of

  • 5)

    Issue of equity shares to the existing share holders of the company through a letter of offer is known as

12th Accountancy - Unit 6 Retirement and Death of a Partner Model Question Paper - by Kokila - Tirunelveli - View & Read

  • 1)

    A partner retires from the partnership firm on 30th June. He is liable for all the acts of the firm up to the

  • 2)

    A, B and C are partners sharing profits in the ratio of 4:2:3. Cretires. The new profit sharing ratio between A and B will be

  • 3)

    X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.

  • 4)

    When a partner leaves from a partnership firm, it is known as

  • 5)

    The firm is reconstituted and other partners continue the partnership firm with a new

View all

TN Stateboard Education Study Materials

TN Stateboard Updated Class 12th Accountancy Syllabus

Accounts From Incomplete Records

Introduction - Meaning of incomplete records - Features of incomplete records - Limitations of incomplete records - Differences between double entry system and incomplete records - Accounts from incomplete records - Ascertaining profit or loss from incomplete records through statement of affairs - Preparation of final accounts from incomplete records

Accounts of Not-For-Profit Organisation

Introduction - Features of not-for-profit organisations - Receipts and Payments Account - Items peculiar to not-for-profit organisations - Income and Expenditure Account - Balance Sheet

Accounts of Partnership Firms-Fundamentals

Introduction - Meaning, definition, and features of partnership - Partnership deed - Application of the provisions of the Indian Partnership Act, 1932 in the absence of partnership deed - Final accounts of partnership firms - Methods of maintaining capital accounts of partners - Interest on capital and interest on drawings of partners - Salary and commission to partners - Interest on loan from partners - Division of profits among partners - Profit and loss appropriation account

Goodwill In Partnership Accounts

Introduction - Nature of goodwill - Factors determining the value of goodwill of a partnership firm - Need for valuation of goodwill of partnership firms - Classification of goodwill - Methods of valuation of goodwill

Admission of a Partner

Introduction - Adjustments required at the time of admission of a partner - Distribution of accumulated profits, reserves and losses - Revaluation of assets and liabilities - New profit sharing ratio and Sacrificing ratio - Adjustment for goodwill - Adjustment of capital on the basis of new profit sharing ratio

Retirement and Death of a Partner

Introduction - Adjustments required on retirement of a partner - Distribution of accumulated profits, reserves and losses - Revaluation of assets and liabilities - Determination of new profit sharing ratio and gaining ratio - Adjustment for goodwill - Adjustment for current year's profit or loss upto the date retirement - Settlement of the amount due to the retiring partner, Death of a partner - Adjustments required on the death of a partner

Company Accounts

Introduction - Meaning and definition of a company - Characteristics of a company - Meaning and types of shares - Divisions of share capital - Issue of equity shares - Process of issue of equity shares - Issue of shares for cash in instalments - Issue of shares for cash in lumpsum - Issue of shares for consideration other than cash

Financial Statement Analysis

Introduction - Financial statements - Financial statements of companies - Financial statement analysis - Tools of financial statement analysis - Preparation of comparative statements - Preparation of common - size statements - Trend analysis

Ratio Analysis

Introduction - Meaning of accounting ratios - Meaning and definition of ratio analysis - Objectives of ratio analysis - Classification of ratios - Computation of ratios - Advantages of ratio analysis - Limitations of ratio analysis

Computerized Accounting System-Tally

Introduction - Applications of Computerised Accounting System (CAS) - Automated accounting system - Designing the accounting reports - Data exchange with other information system - Application of computerised accounting system - Tally with GST package - Practical application of accounting software - Tally.ERP 9

TN StateboardStudy Material - Sample Question Papers with Solutions for Class 12 Session 2019 - 2020

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