12TH CLASS ACCOUNTANCY PRIVATE PREVIOUS PAPER 2017 JKBOSE PDF DOWNLOAD

12TH CLASS ACCOUNTANCY PRIVATE PREVIOUS PAPER 2017 JKBOSE PDF DOWNLOAD

12TH CLASS ACCOUNTANCY PRIVATE PREVIOUS PAPER 2017 JKBOSE PDF

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(Long Answer Type Questions)

 1.  A, B and C were partners in a firm sharing profits and losses in the ratios of 4: 3 : 3. Their fixed capitals were Rs 100000  Rs 200000 and Rs 300000 respectively for the year 2015. Interest on capital was credited to them @ 10% instead of 9 %p.a. Show your working and pass the necessary journal entry

Or

The assets of a firm are Rs 60,000 and the liabilities other than capital are Rs 20,000. The normal rate of profit in this type of business is 15%. Whereas the firm earns a profit of Rs 15,000. Find out the value of goodwill according to capitalization method.

2. A and B are partners with capitals of rs 80,000 and Rs 60,000 respectively. They admit C as a partner with 1/4 share in the profits of the firm. C brings Rs 80,000 as his share of capital but does not brings his share of goodwill amounting to Rs 50,000. Give journal entries.

Or

A, B and C are partners in a firm. C retires from the firm. on C's retirement the goodwill has been valued at Rs 64,000. There is goodwill account in the books of the firm with a balance of Rs 46,000. What will be the journal entries to record the goodwill.

3. "ESS Qve Ltd issued 20,000 shares of Rs 100 each. The amount was called up as follows : Rs 20 on application, Rs 30 on allotment and the balance in two equal instalments. Public applied for 12,000 shares only and company did not made the final call. Pass entries.
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Or

Gulzar ltd. forfeited 100 equity shares of the face value of Rs 100 each, Rs 60 per share called up for non-payment of first call of Rs 20 per share. The forfeited shares were subsequently re-issued as fully paid @ Rs 10 each. give necessary entries in company's journal.

4. Firdous Ltd purchased a plant worth Rs 47,50,000. For this company issued 5% debentures of Rs 100 each at a discount of 5% in satisfaction of the purchase price. Pass the requires journal entries.

Or

How will you record the entries relating to redemption of 1000 15%, Debentures of Rs 00 each by converting them into equity shares of Rs 100 each a premium of Rs 2.50 Per share.

(Short Answer Type Questions)

5. What is Partnership Deed?
6. What do Fixed and Fluctating Capitals mean?
7. Journal entries are required for the following items on Dissolution of Partnerhip firm:
Invest unrecorded was realized at Rs 15,000.
Realisation expreses met by firm Rs 8,000
Goodwill was taken over by partner A at Rs 30,000

8.  What is meant by Dissolution of partnership firm?
9.  What is under-Subscription?
10. What is Pro-rata allotment?

(Very Short Answer Type Questions)

11. What is Goodwill?
12. Define Sacrificing Ration.
13. What is Joint Life Policy?
14. Loan Rs 25,000 give by partner 'D' to the firm was transferred to his capital account on dissolution. Pass entry.
15. What is meant by Call-in- Arrear ?
16. Give any two characteristics of Debentures.
17. Name the methods of Redemption of Debentures.

(Objective Type Questions)

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