The Central Board of Secondary Education (CBSE) will conduct the board exam for Class 12 Accountancy on Saturday March 23, 2024. Students appearing in the exam can visit the official website of the CBSE to check question papers of the previous years to familiarise themselves with the paper pattern. Question papers are available from the board year 2019 on the official website of the CBSE.
High mark Accountancy questions from previous year paper:
What is data formatting ? What tools are used to format a given data ? Explain.
List eight uses of accounting software.
What is meant by 'Present Value' of an investment? Explain the financial function which helps in its calculation.
Explain the terms 'Memo Voucher', 'Post-dated Voucher' and 'User-defined Voucher'.
Which error occurs when Excel does not recognise 'text' in the formula? State the steps to correct it.
The Current Ratio of a company is 2 : 1. State giving reasons, which of the following transactions would improve, reduce or not change the ratio:
(a) Purchased goods on credit < 40,000
(b) Sale of furniture of < 8,000 at a loss of < 2,000
(c) Cash received from trade receivables < 15,000
(d) Issued equity shares < 6,00,000
Calculate Gross Profit Ratio from the following information:
Inventory Turnover Ratio : 6 times
Average Inventory : < 4,00,000
Goods are sold at a profit of 25% on cost
Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013:
(a) Licenses and Franchise
(b) Loans Repayable on Demand
(c) Accrued Income
Pass necessary journal entries for the following transactions relating to the issue of debentures:
(a) Gagan Limited issued < 10,00,000, 9% Debentures of < 100 each at a premium of 5%, redeemable at par after four years.
(b) KS Limited issued < 10,00,000, 10% Debentures of < 100 each at par, redeemable at 10% premium after four years.
(c) QR Limited issued < 10,00,000, 9% Debentures of < 100 each at a discount of 10%, redeemable at a premium of 5% after five years.
Pass necessary journal entries for the forfeiture and reissue of shares in the following cases :
(i) BCG Limited forfeited 75 shares of < 10 each issued at a premium of < 4 per share for non-payment of allotment money of < 8 per share (including premium). The first and final call of < 4 per share was not made. The forfeited shares were reissued at < 15 per share fully paid.
(ii) Geetika Limited forfeited 1,200 shares of < 50 each issued at par for non-payment of final call of < 10 per share. Out of these, 900 shares were reissued at < 45 per share fully paid-up.
Pushkar Limited invited applications for 30,000 shares of < 100 each at 20% premium. The amount per share was payable as under :
On application < 40 (including < 10 premium)
On allotment < 30 (including <10 premium)
On first call < 30
On second and final call Balance