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SAMPLE PAPER- 4 (solved) ACCOUNTANCY Class – XII Time allowed: 3 hours General Instructions: 1. This question paper contains Two parts A& B. 2. Both the parts are compulsory for all. 3. All parts of questions should be attempted at one place. 4. Marks are given at the end of each question.
Question Paper Designed by : Dr. Vinod Kumar Book recommended by author : ULTIMATE BOOK OF ACCOUNTANCY Publisher : Vishwas Publications (09216629576, 09256657505)
Dr. Vinod Kumar is Author of Ultimate Book of Accountancy and a great name in the field of accountancy

Maximum Marks: 80

Part – A Partnership, Share Capital and Debentures 1. Do all firms of business organisations prepare the P/L Appropriation A/c? 2. Where would you record the interest on capital when capital is fixed? 3. In the absence of partnership deed, how are mutual relations of partners governed? (1) (1) (1)

4. In case of re-issue of shares which were originally issued at par or at a premium, what is the maximum permissible discount on re-issue? (1) 5. State the provision of the Companies Act, 1956 regarding DRR? (1)

6. On 31st March, 2005, after the closing of books of accounts, the Capital Accounts of A, B and C stood at Rs.24,000; Rs.20,000 and Rs.12,000 respectively. The profit for the year Rs.36,000 was distributed equally. Subsequently, it was found that interest on capital @ 5% p.a. had been omitted. The profit sharing ratio was 2:2:1. (3) 7. Vinod Limited has Rs.8,00,000; 9% Debentures to be redeemed out of profits on 1st October 2010 at a premium of 5%. The company had a DRR of Rs.4,14,000. Pass the necessary Journal entries at the time of redemption. (3) 8. Vinod Limited issued 25,000; 10% Debentures of Rs.100 each. Give the Journal entries in each o the following cases when: (a) The Debentures were issued at a premium of 20%. (b) The Debentures were issued at a collateral security to bank

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