CBSE Class 12 Accountancy Question Paper 2008 (Set 1)

CBSE CLASS XII Questions

• 1.

  Kiara Ltd. purchased assets worth ₹ 12,40,000 and took over liabilities of ₹ 3,40,000 of Amrex Ltd. for a purchase consideration of ₹ 11,00,000. Kiara Ltd. paid half the amount by cheque. The balance amount was settled by issuing 9% debentures of ₹ 100 each at a premium of 10%.
  Pass necessary journal entries for the above transactions in the books of Kiara Ltd.

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• 2.

  Sudama, Sharma and Varun were partners in a firm sharing profits and losses in the ratio of 6 : 4 : 3. Sharma retired from the firm on 31st March, 2025. The gaining ratio of Sudama and Varun will be:

  • 3 : 2
    
  • 2 : 1
    
  • 1 : 2
    
  • 2 : 3
    
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• 3.

  From the following information obtained from the books of 'Ajanta Ltd.', calculate Cash from Operations: Net Profit for the year ended 31st March, 2025 after charging depreciation of ₹ 80,000 and after writing off goodwill ₹ 10,500 was ₹ 4,90,000. Additional Information:

  

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• 4.

  There are two statements Assertion (A) and Reason (R):
  Assertion (A): At the time of admission of a new partner in a partnership firm, the newly admitted partner brings an agreed amount of capital either in cash or in kind.
  Reason (R): On admission, the new partner gets the right to acquire share in the assets and profits of the partnership firm.
  Choose the correct option from the following:

  • Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
    
  • Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
    
  • Assertion (A) is correct, but Reason (R) is incorrect.
    
  • Assertion (A) is incorrect, but Reason (R) is correct.
    
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• 5.

  Hari, Murari and Abhi were partners in a firm sharing profits and losses in the ratio of 8 : 7 : 4. Murari retired from the firm on 31st March, 2025. Hari and Abhi decided to share profits in the future in the ratio of 2 : 1. The gaining ratio of Hari and Abhi was:

  • 1 : 2
    
  • 8 : 7
    
  • 2 : 1
    
  • 7 : 4
    
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• 6.

  Aashree and Manvi were partners in a firm and their capitals were ₹ 6,00,000 and ₹ 4,00,000 respectively. Normal rate of return in a similar business was 15% and the goodwill of the firm was valued at ₹ 3,00,000. If goodwill was calculated at three years purchase of super profits, the average profits of the firm were :

  • ₹ 1,00,000
    
  • ₹ 45,000
    
  • ₹ 2,50,000
    
  • ₹ 1,50,000
    
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