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Class 12 - Accountancy
Sample Paper - 10 (2022-23)
Maximum Marks: 80
Time Allowed: : 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 has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students must
attempt only one of the given options.
5. Question 1 to 16 and 27 to 30 carries 1 mark each.
6. Questions 17 to 20, 31and 32 carries 3 marks each.
7. Questions from 21 ,22 and 33 carries 4 marks each
8. Questions from 23 to 26 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2 questions of three
marks, 1 question of four marks and 2 questions of six marks.
Part A:- Accounting for Partnership Firms and Companies
1. Calculate interest on drawings, if owner withdrew the following amounts as follows Jan.31 Rs. 6,000, Mar.31 Rs.4,000,
July 1 Rs.8,000, Sep. 30 Rs.3,000, 1 Nov, Rs.5,000. Accounts are closed on 31st December every year and rate of
interest on drawings is 10% p.a.
a) ₹1,418.33
b) ₹1,408.33
c) ₹1,418.93
d) ₹1,408.93
2. Assertion (A): Profit or loss on revaluation of assets and reassessment of liabilities is transferred to the old
partners' Capital account/Current account in old profit sharing ratio.
Reason (R): All the accumulated profits or losses and reserves are transferred to old partners’ capital account/current
account in the old profit sharing ratio.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
3. When Goodwill is not purchased, Goodwill can
a) not be accounted in the books
b) be accounted as per the agreement of the partners
c) be partially accounted in the books
d) be accounted in the books
OR
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Goodwill is valued
a) at the time of change in profit-sharing ratio
b) at the time of retirement or death of a partner
c) at the time of admission of a partner
d) All of these
4. T Ltd. Purchased a machine from L Co. for ₹60,000. It was decided to pay ₹5,000 in cash and balance will be paid by
the issue of shares of ₹10 each. Pass journal entries if shares Issued at a premium of 10%
a) T Ltd ... Dr. ... 55,000
To Share Capital A/c ... 45,000
To Securities Premium A/c ... 10,000
b) L Co. (Vendor) ... Dr. ... 55,000
To Share Capital A/c ... 50,000
To Securities Premium A/c ... 5,000
c) L Co. (Vendor) ... Dr. ... 54,000
To Share Capital A/c ... 9,000
To Securities Premium A/c ... 45,000
d) No Entry will be recorded for this transaction
OR
20,000 shares issued for public subscription having face value Rs.10 at a premium of 10%. The full amount was payable
on application. Applications were received for 30,000 shares and pro-rata allotment was made. Find the amount to be
recorded in Share Capital Account?
a) 3,30,000
b) 2,00,000
c) 1,10,000
d) 3,00,000
5. Which of the following statement is/are correct?
A. Interest on debentures is paid before paying any dividend
B. Debentures cannot be issued as ‘Collateral Security’
C. Debentures can be issued in cash only
D. Debentures are shown under head Shareholders fund under balance sheet
a) (B)
b) (C)
c) (D)
d) (A)
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6. A and B share profits and losses in the ratio of 5:2. They have decided to dissolve the firm. Assets and external liabilities
have been transferred to Realisation A/c. It is found that an unrecorded Computer was realized ₹7,000. How would you
record it?
a)
Bank A/c Dr. 7,000
To Realisation A/c 7,000
b)
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Computer A/c Dr. 7,000
To Realisation A/c 7,000
c)
Bank A/c Dr. 7,000
To Computer A/c 7,000
d)
Bank A/c Dr. 700
To Capital A/c 700
OR
There was an unrecorded liability regarding creditors of ₹5,000. The actual amount was decided to settle this liability
was ₹3,100. Mohan (one partner) is ready to pay that liability. The entry will be:
a)
Realisation A/c Dr. 1,900
To Mohan’s Capital A/c 1,900
b)
Realisation A/c Dr. 5,000
To Mohan’s Capital A/c 5,000
c)
Realisation A/c Dr. 3,100
To Mohan’s Capital A/c 3,100
d) No Entry
7. X Limited forfeited 1,000 shares of 10 each for the non-payment of the final call of Rs.2 per share. These shares were
reissued @ Rs.8 per share fully paid up. Find out the amount of capital reserve.
a) Capital Reserve ₹4,000
b) Capital Reserve ₹6,000
c) Capital Reserve ₹8,000
d) Capital Reserve ₹10,000
8. Vinod Limited issued 12%, 1,000 Debentures @ 100 each at a premium of 10%. What will be the first journal entry?
a) 12% Debentures A/c ... Dr. 1,10,000
To Debentures App. & Allot. A/c 1,10,000
b) Bank A/c ... Dr. 1,10,000
To Debentures App. & Allot. A/c 1,00,000
To Securities premium 10,000
c) Bank A/c ... Dr. 1,10,000
To 12% Debentures App. & Allot. A/c 1,10,000
(Being Application money received)
d) Bank A/c ... Dr. 1,00,000
To Debentures App. & Allot. A/c 1,00,000
OR
Sofia Ltd. issued 4000 8% Debentures of ₹100 each payable as Follows ₹20 on Application ₹30 on Allotment ₹50 on
First and Final call All the debentures calls were applied for and allotted. All the calls were duly Received. By what
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Class 12 - Accountancy
Sample Paper - 10 (2022-23)
Maximum Marks: 80
Time Allowed: : 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 has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students must
attempt only one of the given options.
5. Question 1 to 16 and 27 to 30 carries 1 mark each.
6. Questions 17 to 20, 31and 32 carries 3 marks each.
7. Questions from 21 ,22 and 33 carries 4 marks each
8. Questions from 23 to 26 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2 questions of three
marks, 1 question of four marks and 2 questions of six marks.
Part A:- Accounting for Partnership Firms and Companies
1. Calculate interest on drawings, if owner withdrew the following amounts as follows Jan.31 Rs. 6,000, Mar.31 Rs.4,000,
July 1 Rs.8,000, Sep. 30 Rs.3,000, 1 Nov, Rs.5,000. Accounts are closed on 31st December every year and rate of
interest on drawings is 10% p.a.
a) ₹1,418.33
b) ₹1,408.33
c) ₹1,418.93
d) ₹1,408.93
2. Assertion (A): Profit or loss on revaluation of assets and reassessment of liabilities is transferred to the old
partners' Capital account/Current account in old profit sharing ratio.
Reason (R): All the accumulated profits or losses and reserves are transferred to old partners’ capital account/current
account in the old profit sharing ratio.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
3. When Goodwill is not purchased, Goodwill can
a) not be accounted in the books
b) be accounted as per the agreement of the partners
c) be partially accounted in the books
d) be accounted in the books
OR
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Goodwill is valued
a) at the time of change in profit-sharing ratio
b) at the time of retirement or death of a partner
c) at the time of admission of a partner
d) All of these
4. T Ltd. Purchased a machine from L Co. for ₹60,000. It was decided to pay ₹5,000 in cash and balance will be paid by
the issue of shares of ₹10 each. Pass journal entries if shares Issued at a premium of 10%
a) T Ltd ... Dr. ... 55,000
To Share Capital A/c ... 45,000
To Securities Premium A/c ... 10,000
b) L Co. (Vendor) ... Dr. ... 55,000
To Share Capital A/c ... 50,000
To Securities Premium A/c ... 5,000
c) L Co. (Vendor) ... Dr. ... 54,000
To Share Capital A/c ... 9,000
To Securities Premium A/c ... 45,000
d) No Entry will be recorded for this transaction
OR
20,000 shares issued for public subscription having face value Rs.10 at a premium of 10%. The full amount was payable
on application. Applications were received for 30,000 shares and pro-rata allotment was made. Find the amount to be
recorded in Share Capital Account?
a) 3,30,000
b) 2,00,000
c) 1,10,000
d) 3,00,000
5. Which of the following statement is/are correct?
A. Interest on debentures is paid before paying any dividend
B. Debentures cannot be issued as ‘Collateral Security’
C. Debentures can be issued in cash only
D. Debentures are shown under head Shareholders fund under balance sheet
a) (B)
b) (C)
c) (D)
d) (A)
To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study
material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar
papers with their own name and logo.
6. A and B share profits and losses in the ratio of 5:2. They have decided to dissolve the firm. Assets and external liabilities
have been transferred to Realisation A/c. It is found that an unrecorded Computer was realized ₹7,000. How would you
record it?
a)
Bank A/c Dr. 7,000
To Realisation A/c 7,000
b)
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Computer A/c Dr. 7,000
To Realisation A/c 7,000
c)
Bank A/c Dr. 7,000
To Computer A/c 7,000
d)
Bank A/c Dr. 700
To Capital A/c 700
OR
There was an unrecorded liability regarding creditors of ₹5,000. The actual amount was decided to settle this liability
was ₹3,100. Mohan (one partner) is ready to pay that liability. The entry will be:
a)
Realisation A/c Dr. 1,900
To Mohan’s Capital A/c 1,900
b)
Realisation A/c Dr. 5,000
To Mohan’s Capital A/c 5,000
c)
Realisation A/c Dr. 3,100
To Mohan’s Capital A/c 3,100
d) No Entry
7. X Limited forfeited 1,000 shares of 10 each for the non-payment of the final call of Rs.2 per share. These shares were
reissued @ Rs.8 per share fully paid up. Find out the amount of capital reserve.
a) Capital Reserve ₹4,000
b) Capital Reserve ₹6,000
c) Capital Reserve ₹8,000
d) Capital Reserve ₹10,000
8. Vinod Limited issued 12%, 1,000 Debentures @ 100 each at a premium of 10%. What will be the first journal entry?
a) 12% Debentures A/c ... Dr. 1,10,000
To Debentures App. & Allot. A/c 1,10,000
b) Bank A/c ... Dr. 1,10,000
To Debentures App. & Allot. A/c 1,00,000
To Securities premium 10,000
c) Bank A/c ... Dr. 1,10,000
To 12% Debentures App. & Allot. A/c 1,10,000
(Being Application money received)
d) Bank A/c ... Dr. 1,00,000
To Debentures App. & Allot. A/c 1,00,000
OR
Sofia Ltd. issued 4000 8% Debentures of ₹100 each payable as Follows ₹20 on Application ₹30 on Allotment ₹50 on
First and Final call All the debentures calls were applied for and allotted. All the calls were duly Received. By what
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