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Default Re: Himachal Pradesh Board Class 12 Accountancy Exam Paper

\Here I am giving you question paper for Himachal Pradesh Board Class 12 Accountancy Examination .. some content is given below ..

Part–A Accounting for not for Profit Organisations, Partnership Firms and Companis
Unit-1 : Accounting for Not for Profit Organisation (8 marks)
Break up : 3 (Theory) + 5(Practical or Theory Choice) = (8 marks)
Unit-2 : Accounting for Partnership Firms (4 marks)
Break up : 2(Theory) + 2(Practical) = (4 marks)
Unit-3 : Reconstitution of Partnership = (17 marks)
Break up : 2(Theory) + 3 (Practical) + 5(Practical or Theory choice) + 7 (Practical
or Theory Choice) = 17 marks
Unit-4 : Accounting for Share Capital and Debentures (21 marks)
4(i) : Accounting for Share capital (12 marks)
Break up : 2(Theory) + 2(Theory) + 3(Theory) + 5(Practical) = (12 marks)
4(ii) : Accounting for Debentures (9 marks)
Break up : 2(Theory) + 3(Theory) + 4(Practical) = (9 marks)
Part–B (Analysis of Financial Statements)
Unit-5 : Analysis of Financial Statements (9 marks)
Break up : 2(Theory) + 2(Theory) + 2(Theory) + 3(Practical) = (9 marks)
Unit-6 : Cash Flow Statement (6 marks)
Break up : 2(Theory) + 4 (Practical) = (6 marks)

Guidelines for Project Work (Practical)
Part–B (Analysis & Financial Statement)
Time Allowed : 1½ Hrs. Max. Marks 20
Unitwise weightage along with guidelines :-
Unit-I :- PROJECT FILE (4 Marks)
The student will prepare the Project File to record their work related its
application oriented problems attempted by them based on Part B. The
Project File should be neatly hand written with page number marked.
Each step of the solution needs to be highlighted. Conclusions drawn are
placed in boxes.

Unit-II :- WRITTEN TEST (12 Marks) (One Hour)
There will be 3 application-oriented Problems of 6 marks each from
Accounting Ratio, Comparative Statements and Cash Flow Statement. Out
of which the students will attempt any two. Marks will be awarded on
the steps taken, data identified and solution arrived at.
Unit-III :- VIVA - VOCE (4 Marks)
The Examiner will ask 3-4 questions to test the authenticity of the work
done in the Project file by the student.
The Examination of Project Work (Practical) will be conducted internally by the
concerned schools. The marks obtained by the candidates in the Project Work (Practical)
may be intimated by the concerned school to Boards office in the month of February
every year.
However, students appearing in the capacity of Private candidate(s) shall have to get
his Project Work (Practical) examined at an Institution / Examination Centre notified by
the Board for the purpose.

For Project Work (Practical)
Part–B (Analysis & Financial Statement)
Time Allowed: 1½ Hrs. Max. Marks 20
General Instructions :-
(i) Project file carries 4 marks.
(ii) Viva-Voce carries 4 marks.
(iii) Attempt any two application - oriented problems.
(iv) Each problem carries 6 marks.
Problem No. 1 :- The following comparative percentage are computed from the
Financial Statements & Two companies Onida and BPL.
Onida Co. BPL Co.
(i) Net Income to Sales 10% 9%
(ii) Net Income to capital employed 12% 10%
(iii) Sales 75,000 90,000
(iv) Opening Debtors 8,000 8,600
(v) Closing Debtors 8,600 11,700
A. Which company appears to be more successful ? Give reasons.
B. Which companies performance has deteriorated. 6
Problem No. 2 :- The following information is given :-
Current ratio : 2.5
Liquidity ratio : 1.5
Net working capital : Rs. 300,000
Stock turnover ratio : 6 times
(Cost of Sales / Closing stock)
Gross Profit Ratio 20%
Fixed assets turnover ratio : 2 times
Average debt collection period : 2 months
Fixed assets : Share holders net worth 1:1
Reserves : Share capital 0.5:1
Draw up Balance Sheet from the above informations. 6
Problem No. 3 :- From the following information, calculate Cash Flow from Investing
Activities and Financing Activities :
Opening Closing
(Rs.) (Rs.)
Machinery at Cost 2,00,000 3,90,000
Accumulated Dep. on Machinery 1,20,000 2,00,000
Capital 10,00,000 15,00,000
Loan from I.D.B.I. 5,00,000 3,25,000

During the year machinery costing 1,00,000 was sold at Profit of Rs. 60,000.
Depreciation on machinery charged during the year amounted to Rs. 100,000.

(Accounting for not for Profit Organisations, Partnership and Company Accounts)

What is Partnership Deed ?
Q2. Mr. Gupta is a partner in a firm. He drew regularly Rs. 1200 at the end of every
month for the six months ending 30 June 2005. Calculate interest on drawing at
15% p.a. 2

Give two distinctions between Share and Debentures.

State the four characteristics of debenture.

What do you mean by Pro-rata Allotment ?

What is Gaining Ratio ? How it is calculated ?

How does the Income and Expenditure account differ from a Profit & Loss Account?
Q8. P and S are partners sharing profits and losses in the ratio of 3:2. Their books
showed goodwill at Rs. 20,000. R is admitted with 1/5th share which he acquires
equally from P and S. R brings Rs. 20,000 as his capital and Rs. 10,000 as his share
of goodwill. Profit at the end of the year were the amount of Rs. 1,00,000. You are
required to give journal entries. 3

What do you understand by Minimum Subscription and forfeiture of share ?

What is Sinking Fund and why it is prepared ?
Q11. A company issued Rs. 10,000 10% Debentures on 1st Jan. 1997. Interest on these
debentures is payable on 31st March and 30th September each year. Pass necessary
journal for 1997 assuming that Income Tax is deducted @ 25% on interest and that
accounts are closed on 30th September. 4
Q12. From the following Receipts and Payments A/c of a club and from the information
supplied, Prepare Income and Expenditure A/c for the year ended 31st Dec. 2000.
To Balance bid 250 By Salaries 1,200
To Subscription By Gen. Expenses 300
1999 250 By Electric Charges 200
2000 1,000 By Books 100
2001 200 By News Papers 400
To Sale of old furniture By Postage 50
(costing 100) 60 By furniture 250
To rent received for the
use of hall 740 By Balance clos 500
Entertainment 400
To sale of Newspaper 100
3,000 3,000
Information :
(a) The club has 50 members each paying annual subscription of Rs. 25.
Subscription outstanding on 31st Dec. 1999 were Rs. 300.
(b) On 31st Dec. 2000 salaries outstanding amount to Rs. 100. Salaries paid
included Rs. 100 for the year 1999.
(c) On 1-1-2000 the club owned land and building valued at Rs. 10,000, furniture
Rs. 600 and books for Rs. 500. 5

What is Receipt and Payment account ? What are its characteristics
Q13. X and Y share profits in the proportion of 3:1. The balance sheet of the firm as on
31st Dec. 1998 was as follows :
Liabilities Rs. Assets Rs.
Sundry Creditors 41,500 Cash at Bank 23,500
Capital BIR 3,000
X 30,000 Debtors 16,000
Y 16,000 46,000 Stock 20,000
Land & Building 25,000
87,500 87,500
On 1st January, 1999 Z was admitted into partnership on the following terms :
(i) That Z will pay Rs. 10,000 as his share of capital.
(ii) That Z will pay Rs. 5,000 for goodwill.
(iii) That the stock be reduced by 10%.
(iv) A provision at the rate of 5% be created both for bad and doubtful debts and
the BIR.
(v) That the value of the land and building be appreciated by 20%. Prepare
revaluation A/c and capital A/c.

What is goodwill ? Why does a new partner pay for it ? How is its value
determined? 5
Q14. X Co. Ltd,. issued 10,000 shares of Rs. 10 each at Re. 1 Premium. The amount
payable are as follows :
on application 3
on allotment 5 (including premium)
on first call 2
on final call 2
Ajay who was holding 100 shares, did not pay his allotment and first call money.
His shares were forfeited and Sanjay who was holding 200 shares did not pay first
call money and his shares were subsequently forfeited. The share were forfeited after
the first call is over and reissued to Mr. Gupta for Rs. 2,500 fully paid.
Prepare the necessary Journal Entries. 5
Q15. C, D and E were partners sharing profits in the ratio of 1/2, 1/3 and 1/6 respectively.
The Balance Sheet of C, D and E as on 31st Dec. 1998 are as follows :
Liabilities Amount Assets Amount
Sundry Creditors 19,000 Cash at Bank 2,500
B/P 5,000 Debtor 16,000
Less : Reserve for
Doubtful debts 500 15,500
Reserve Fund 12,000 Stock 25,000
Capital A/c Motor vans 8,000
C 40,000 Plant & Machinery 35,000
D 30,000 Factory Building 45,000
E 25,000 95,000
1,31,000 1,31,000
D retires on that subject to the following adjustments.
(i) Goodwill of the firm to be valued at Rs. 18000 and is to be written off later
(ii) Plant to be depreciated by 10% and Motor vans by 15%.
(iii) Stock to be appreciated by 20% and building by 10%.
(iv) The Reserve for doubtful debts to be increased by Rs. 1950.
Prepare Revaluation A/c, Capital A/c and Balance Sheet of the firm after CLS

Explain in detail the adjustments of A/cs on the retirement and death of Partner.

(Analysis of Financial Statements)
Q16. Under the headings will you show the following items in the Balance sheet of a Joint
Stock Company.
(i) Stock
(ii) Cash A/c
(iii) Trade Marks
(iv) Bills Receivable
(v) Debentures 2

Define the objectives of financial analysis.

What is the meaning and two objectives of trend analysis ?

What are the limitations of Cash Flow Statement ?
Q20. From the following information calculate :
(a) Current Ratio
(b) Liquid Ratio
(c) Operating Ratio
Items Rs. Rs.
Current Assets 70,000 Operating Expenses 40,000
Current Liabilities 35,000 Sales 1,20,000
Stock 30,00 Cost of goods sold 60,000

Q21. From the following information prepare a Cash Flow Statement.
Opening Cash Balance 20,000
Closing Cash Balance 24,000
Decrease in Debtors 10,000
Increase in Creditors 14,000
Sale of Fixed Assets 40,000
Redemption of Debentures 1,00,000
Net Profit for the year 40,000 4
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