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CBSE XII Pre Boards 2015 : ACCOUNTANCY with Answers (KV Kolkata)

7 pages, 33 questions, 11 questions with responses, 18 total responses,    1    0
Kendriya Vidyalaya No.1 Salt Lake
Kendriya Vidyalaya (KV) No. 1, Salt Lake
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KENDRIYA VIDYALAYA SANGATHAN-KOLKATA REGION 2ND PRE-BOARD EXAMINATION: 2014-15 SUB: ACCOUNTANCY TIME ALLOWED: 3 HOURS M.M :80 General Instructions: 1. This question paper contains two parts- A and B. 2. All parts of a question paper should be attempted at one place. Part A ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES 1. Under which of the following circumstances, reconstitution of a firm may not take place? (a) Change in profit ratio among existing partners (b) Admission of new partner (c) Additional capital introduced by partners (d) Death of a partner 1 2. When a new partner brings his share of goodwill in cash, the amount is debited to: (a) Premium A/c (b) Cash A/c (c) Capital A/c of old partners (d) Capital A/c of new partners 1 3. On the retirement of a partner, reserves should be transferred to the Capital Accounts of: (a) Retiring partner (b) Remaining partner (c) All partners (d) None of these 1 4. Unrecorded liability when paid on dissolution of a partnership firm is debited to: (a) Cash Account (b) Liability Account (c) Realisation Account (d) Partner s Capital Account 1 5. The balance of Debenture Redemption Reserve Account is finally transferred to: (a) Capital Reserve Account (b) Specific Reserve Account (c) General Reserve Account (d) None of these 1 6. Priya and Ruchi were partners in a firm sharing profits in the ratio of 7:5. Their respective fixed capitals were Priya Rs 20,00,000 and Ruchi Rs 14,00,000. The partnership deed provided for the following: (i) Interest on capital- @12% p.a. (ii) Priya s salary Rs 12,000 per month and Ruchi s salary Rs 1,20,000 per year. The profit for the year ended 31st December,2012 was Rs 10,08,000 which was distributed equally, without providing for the 3 above. Pass an adjustment entry. 7. X Ltd. Obtained a loan of Rs 6,00,000 from IDBI Bank. The company issued 7,000, 9% Debentures of Rs 100 each as collateral security for the same. Show how these items will be presented in the Balance Sheet of the company. 3

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Additional Info : KV Sangathan, Kolkata Region ACCOUNTING Pre-Board
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