12th Class Accountancy Private 2013 Paper Jkbose Jammu PDF Download
12th Class Accountancy Previous Private 2013 Paper Jkbose Jammu PDF Download
Private paper
Set-Y
Part-A
(Long Answer Type Questions)
The following is the receipts and payments account of jolly
Club for the first year ended 31st March 2012:
Receipts
|
Rs
|
Payments
|
Rs
|
To Subscriptions
To interest on investments
To Life Membership subscription
To Profit or from Entertainment
To Entrance Fees
|
11000
100
2000
500
1000
|
By salaries
By Postage
By Rent
By Telephone Charges
By printing and Stationary
By Furniture
By Investments
By Balance:
Cash in Hand
Cash at Bank
|
2200
100
1100
200
300
2000
4000
3600
1100
|
14600
|
14600
|
Additional
information:
(i)
Salaries outstanding Rs. 200.
(ii)
Rent due Rs. 100.
(iii)
Subscriptions to be received Rs 400
(iv)
Depreciation on furniture 10%
Prepare Income and Expenditure Account for the year March
2012 and Balance sheet as on that date.
Or
From the following information derived from the books of
Jammu Club, show the relevance items will appear in opening and closing balance
sheet and in the Income and Expenditure Account for the Year ended 31-03-2012:
Receipts
|
Rs
|
Payments
|
Rs
|
31-03-2010
31-03-2011
31-03-2012
|
15000
95000
10000
|
||
120000
|
120000
|
Additional
Information:
(i) Subscription outstanding 31-03-2011 Rs 18000
(ii) Subscription
outstanding 31-03-2010 Rs
21000
(iii) Subscription receive in advance 31-03-2010 Rs 7000
- The partnership agreement of Mohsin and Ganesh provide that :
(i)
profit will be shared equally.
(ii)
Mohsin will be allowed a salary of Rs 400. P.M
(iii)
Ganesh who manages the sales departmental will be
allowed a commission equal to 10% of the net profit after allowing Mohsin salary.
(iv)
5% interest will be changed on partner’s annual drawings.
Mohsin Rs. 800 and Ganesh Rs. 700.
(v)
The net profit for the year ending March 31, 2012
amounted to Rs. 40000
Prepare Firm’s Profit and Loss Appropriation
Account.
Or
X and Y are partners sharing
profit and losses in the ratio 2 : 1. Their capital were Rs 40000 and Rs 30000
respectively.
Show distribution of profit in
each of the following cases:
Case A:
Profits are Rs. 15000 and deed is silent as regards to interest on capital.
Case B:
Profits are Rs 15000 and deed provides for interest @10% p.a on capital
Case C: Profits are Rs 5600 and deed provides for interest on capital
@10% p.a
Case D: Profits are Rs 5600 and the deed provides for interest on
capital @10% p.a even if there is a loss
Case E: Losses are Rs 2000 and the deed provides for interest on
capital @10% p.a even if there is a loss.
3 firm earned net
profit during the last five years as follows:
(i) Rs.
7000
(ii) Rs. 6500
(iii)
Rs 8000
(iv)
Rs. 7500
(v) Rs
6000
The capital investment of the firm
is Rs 40000. A fair return on Capital in the market is 12%. Find out the value
of Goodwill of the business if it is based on the three year purchase of
average super profits of the past five years.
Or
A and B are partners in 3:2 ratio. C
is admitted. A gave 1/5 of his share to
C while B gave 1/10 of his share to C. Find out (a) new profit sharing ratio
and sacrifice ratio.
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