BANGALORE SAHODAYA SCHOOLS COMPLEX ASSOCIATION (BSSCA)
PRE-BOARD EXAMINATION (2022-2023)
Date: 13th January,2023 Max. Marks: 80
Subject: ACCOUNTANCY (055) Time: 3 Hours
GENERAL INSTRUCTIONS:
1.This question paper contains 34 questions. All questions are compulsory.
2.This question paper is divided into two parts, Part A and B.
3.Part -A is compulsory for all candidates.
4.Part -B is compulsory for all candidates.
5.Question 1 to 16 and 27 to 30 carries 1 mark each.
6.Questions 17 to 20, 31and 32 carries 3marks each.
7.Questions from 21 ,22 and 33 carries 4marks each
8.Questions from 23 to 26 and 34 carries 6marks each
9.There is no overall choice. However, an internal choice has been provided in 7questions of one mark,
2questions of three marks, 1 question of four marks and 2 questions of six marks.
SET II
PART A
(Accounting for Partnership Firms and Companies)
Question 1. X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. They decided to share
future profits equally. The Profit and Loss Account showed a Credit balance of ₹60,000 and a General Reserve
of ₹30,000. If these are not to be shown in balance sheet, in the journal entry:
(a) Cr. X by ₹15,000: Dr. Z by ₹15,000
(b) Dr. X by ₹15,000; Cr. Z by ₹15,000
(c) Cr. X by ₹45,000; Cr. Y by ₹30,000; Cr. Z by ₹15,000
(d) Cr. X by ₹30,000; Cr. Y by ₹30,000; Cr. Z by ₹30,000
Page 1 of 14
, QUESTION 2.
Assertion (A): Avya, Divya and Kavya were equal partners. They Changed their profit- sharing ratio to 4:3:2.
Goodwill was valued at Rs90000. For the purpose Avya's Capital Account will be debited and Kavya's Capital
Account will be credited by Rs.10000
Reason (R): Due to change in profit sharing ratio, Avya has gained 1/9th share while Kavya has sacrificed the
same. Therefore, Avya will compensate Kavya with Rs.10000 being 1/10th of Rs.90000.
In the context of above 2 statements, which of the following is correct?
a) Assertion (A) and Reason (R) are correct but the reason (R) is not the correct explanation of Assertion(A)
b) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
c) Only Assertion (A) is correct
d) Assertion (A) is not correct but the Reason ( R ) is correct
QUESTION 3. Apple Tree Ltd. issued 1,00,000 Equity shares of 10 each at a premium of ₹ 2 per share for
subscription payable as Application Money 4; On Allotment 3 and balance including premium as First and Final
Call. Applications were received for 4,00,000 Equity Shares. Applications for 2,00,000 shares were rejected and
pro rata allotment was made to the remaining applicants. Excess Application Money was to be adjusted against
Allotment and also Call. Allotment Money and Call Money was duly received.
The amount that the company will transfer to Calls-in-Advance Account and amount that it will receive as First
and Final Call will be:
(a) Rs 100000 and Rs.400000
(b) Rs. 100000 and Rs. 500000
(c) Rs. 100000 and Rs. 200000
(d) Rs. 100000and Rs. 300000
OR
Willow Tree Ltd. issued for subscription 20,000 Equity Shares of 10 each. The Issue price was payable Rs 4 per
share on application, 5 per share on allotment and 3 per share as first and final call. The issue was
oversubscribed by one time. The company issued shares to the applicants as follows:
(i) Applications for 8,000 Equity Shares were rejected.
(ii) 8,000 Equity Shares were allotted to applicants of 12,000 Equity Shares.
(iii) 12,000 Equity Shares were allotted to applicants of 20,000 Equity Shares.
The amount that the company should receive on allotment and as first and final call will be :
(a) Rs 52,000 and 60,000 respectively.
(b) 1,00,000 and 60,000 respectively.
(c) 52,000 and 96,000 respectively.
(d) (d) Nil and 60,000 respectively.
Page 2 of 14
PRE-BOARD EXAMINATION (2022-2023)
Date: 13th January,2023 Max. Marks: 80
Subject: ACCOUNTANCY (055) Time: 3 Hours
GENERAL INSTRUCTIONS:
1.This question paper contains 34 questions. All questions are compulsory.
2.This question paper is divided into two parts, Part A and B.
3.Part -A is compulsory for all candidates.
4.Part -B is compulsory for all candidates.
5.Question 1 to 16 and 27 to 30 carries 1 mark each.
6.Questions 17 to 20, 31and 32 carries 3marks each.
7.Questions from 21 ,22 and 33 carries 4marks each
8.Questions from 23 to 26 and 34 carries 6marks each
9.There is no overall choice. However, an internal choice has been provided in 7questions of one mark,
2questions of three marks, 1 question of four marks and 2 questions of six marks.
SET II
PART A
(Accounting for Partnership Firms and Companies)
Question 1. X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1. They decided to share
future profits equally. The Profit and Loss Account showed a Credit balance of ₹60,000 and a General Reserve
of ₹30,000. If these are not to be shown in balance sheet, in the journal entry:
(a) Cr. X by ₹15,000: Dr. Z by ₹15,000
(b) Dr. X by ₹15,000; Cr. Z by ₹15,000
(c) Cr. X by ₹45,000; Cr. Y by ₹30,000; Cr. Z by ₹15,000
(d) Cr. X by ₹30,000; Cr. Y by ₹30,000; Cr. Z by ₹30,000
Page 1 of 14
, QUESTION 2.
Assertion (A): Avya, Divya and Kavya were equal partners. They Changed their profit- sharing ratio to 4:3:2.
Goodwill was valued at Rs90000. For the purpose Avya's Capital Account will be debited and Kavya's Capital
Account will be credited by Rs.10000
Reason (R): Due to change in profit sharing ratio, Avya has gained 1/9th share while Kavya has sacrificed the
same. Therefore, Avya will compensate Kavya with Rs.10000 being 1/10th of Rs.90000.
In the context of above 2 statements, which of the following is correct?
a) Assertion (A) and Reason (R) are correct but the reason (R) is not the correct explanation of Assertion(A)
b) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
c) Only Assertion (A) is correct
d) Assertion (A) is not correct but the Reason ( R ) is correct
QUESTION 3. Apple Tree Ltd. issued 1,00,000 Equity shares of 10 each at a premium of ₹ 2 per share for
subscription payable as Application Money 4; On Allotment 3 and balance including premium as First and Final
Call. Applications were received for 4,00,000 Equity Shares. Applications for 2,00,000 shares were rejected and
pro rata allotment was made to the remaining applicants. Excess Application Money was to be adjusted against
Allotment and also Call. Allotment Money and Call Money was duly received.
The amount that the company will transfer to Calls-in-Advance Account and amount that it will receive as First
and Final Call will be:
(a) Rs 100000 and Rs.400000
(b) Rs. 100000 and Rs. 500000
(c) Rs. 100000 and Rs. 200000
(d) Rs. 100000and Rs. 300000
OR
Willow Tree Ltd. issued for subscription 20,000 Equity Shares of 10 each. The Issue price was payable Rs 4 per
share on application, 5 per share on allotment and 3 per share as first and final call. The issue was
oversubscribed by one time. The company issued shares to the applicants as follows:
(i) Applications for 8,000 Equity Shares were rejected.
(ii) 8,000 Equity Shares were allotted to applicants of 12,000 Equity Shares.
(iii) 12,000 Equity Shares were allotted to applicants of 20,000 Equity Shares.
The amount that the company should receive on allotment and as first and final call will be :
(a) Rs 52,000 and 60,000 respectively.
(b) 1,00,000 and 60,000 respectively.
(c) 52,000 and 96,000 respectively.
(d) (d) Nil and 60,000 respectively.
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