Thursday 19 July 2012

SAMPLE PAPER OF ACCOUNTANCY



1)

What is meant by ‘Reserve Capital’?

1

2)

What do you mean by ‘Honorarium in case of Not-For-Profit Organisation?

1

3)

Will interest paid to a partner on loan be debited to Profit & Loss A/c or Profit & Loss Appropriation A/c? Give reasons.


1

4)

How does the factor location’ affect the goodwill of a firm?

1

5)

What is meant by ‘Reconstitution of firm’?

1

6)

The Income & Expenditure A/c of Raj Club shows subscriptions for 2010 as Rs.70,000. Additional information:

a) Subscriptions for 2009 unpaid on 01/01/2010 was Rs.4,000, Rs.3,600 of which was received in 2010.
b) Balance of subscription paid in advance on 01/01/2010 was Rs.1,700. c) Balance of subscription paid in advance on 31/12/2010 was Rs.900.
d) Balance of subscription for 2010 unpaid on 31/12/2010 was Rs.3,500.

Determine the amount of subscription received in cash during the year 2010.                                                     3

7)    Sunanda Ltd. issued 4,000  11 % Debentures of Rs100 each . Pass necessary journal entries for issue of

Debentures in the following cases :                                                                                                                                                                      3 a) When debentures are issued at par and redeemable at 5 % premium.
b) When debentures are issued at 5 %  premium and redeemable at par.

c) When debentures are issued  at 5 % premium and redeemable at 8 % premium.

8)    State the provisions of Section 79 of the Company’s Act, 1956 regarding the issue of shares at discount.          3

9)    Calculate the interest on drawings of Sunil @10% per annum for the year ended 31/03/11, in each of these cases:                                                                                                                                                                           4

Case I – If he withdraws Rs.4,000 at the beginning of each month. Case II- If he withdraws Rs.,5,000 at the end of each quarter.

10)   X,Y and Z are sharing in 2:2:1. Y dies on March 1st,2011 and his share is taken over by X and Y in the ratio of 3:2.
Profits up to December 31st, 2010 is Rs.50,000. Total goodwill of the firm on the date of his death is Rs.40,000. Journalise in the books of the firm.                                                                                                                                                                             4




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