### 12th Standard Accountancy Study material & Free Online Practice Tests - View Model Question Papers with Solutions for Class 12 Session 2019 - 2020 TN Stateboard [ Chapter , Marks , Book Back, Creative & Term Based Questions Papers - Syllabus, Study Materials, MCQ's Practice Tests etc..]

#### 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
• 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
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
(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
(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
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.

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 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
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
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

(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

#### 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

#### 12th Standard Accountancy Chapter 5 Admission of a Partner Model Questions Paper - by Kokila - Tirunelveli - View & Read

• 1)

Revaluation A/c is a

• 2)

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

• 3)

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.

• 4)

Revaluation account is also called

• 5)

When the value of an asset increases, it results in

#### 12th Standard Accountancy First Mid Term Model Question Paper - by Kokila - Tirunelveli - View & Read

• 1)

Incomplete records are generally maintained by

• 2)

Debtors on 1.4.2018 was Rs.1,00,000 and on 31.3.2019 was Rs.80,000 cash received from debtors during the year is Rs.1,60,000. Then the credit sales during the year is

• 3)

A statement of assets and liabilities prepared under the single entry system is called

• 4)

Receipts and payments account is a

• 5)

On what basis the receipts and payments account is prepared?

#### 12th Standard Accountancy Chapter 4 Goodwill In Partnership Accounts Important Question Paper - by Kokila - Tirunelveli - View & Read

• 1)

Identify the incorrect pair

• 2)

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

Which is the present value of a firm's future excess earnings?

• 5)

Goodwill is shown under fixed assets in the

#### 12th Standard Accountancy Chapter 3 Accounts of Partnership Firms - Fundamentals Important Question Paper - 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)

In the absence of an agreement, partners are entitled to

• 4)

The maximum number of partners in a partnership firm is

• 5)

In sole proprietorship, the profit or loss in the profit and loss account is transferred directly to the sole proprietor's

#### 12th Standard Accountancy Unit 2 Accounts of Not-For-Profit Organisation Important 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)

Balance of receipts and payments account indicates the

• 4)

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

• 5)

Rs.10,000 received as to annual membership subscription. Out of this Rs.2,000 is pertaining to the previous accounting period whereas Rs.1000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting.

#### 12th Accountancy - Unit 1 Model Question Paper - by Kokila - Tirunelveli - 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?

#### model question paper for new syllabus of +2 state board english medium accountancy first chapter - by Deepak - View & Read

• 1)

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

• 2)

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

• 3)

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

• 4)

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

• 5)

A firms total sales is Rs.80,000 and its credit sales is Rs.60,000 Then its cash sales is

#### 12th standard accountancy chapter one creative multiple choice questions for new syllabus state board english medium - by Deepak - View & Read

• 1)

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

• 2)

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

• 3)

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

• 4)

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

• 5)

Credit sale is obtained from

#### New syllabus important multiple choice questions for state board english medium accountancy chapter one for twelfth standard - by Deepak - View & Read

• 1)

If building (Closing) Rs.1,00,000, Land (Opening) Rs.1,00,000, Creditors (Opening) Rs.10,000 the opening capital:

• 2)

Trial balance is not obtained in:

• 3)

In single entry two-fold aspects of transaction are not recorded, so it is

• 4)

Single entry system is not possible for:

• 5)

Balance sheet is prepared under

### TN Stateboard Education Study Materials

#### 12th Stateboard Accountancy 2019 - 2020 Academic Monthly Syllabus - by Kokila - Tirunelveli Aug 02, 2019 Aug 02, 2019

Accountancy 2019 - 2020 Academic Monthly Syllabus

### 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

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

Latest Sample Question Papers & Study Material for class 12 session 2019 - 2020 for Subjects Maths, Chemistry, Physics, Biology, Computer Science, Business Maths, Economics, Commerce, History, Computer Applications, Computer Technology in PDF form to free download [ available question papers ] for practice. Download QB365 Free Mobile app & get practice question papers.

More than 1000+ TN Stateboard Syllabus Sample Question Papers & Study Material are based on actual Board question papers which help students to get an idea about the type of questions that will be asked in Class 12 Final Board Public examinations. All the Sample Papers are adhere to TN Stateboard guidelines and its marking scheme , Question Papers & Study Material are prepared and posted by our faculty experts , teachers , tuition teachers from various schools in Tamilnadu.

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