CBSE Class 12 Accountancy Question Paper 2012 (Set 67-1)

CBSE CLASS XII Questions

• 1.

  Ajanta Ltd. invited applications for issuing 30,000 equity shares of ₹ 10 each at a premium of ₹ 5 per share. The amount was payable as follows: On Application and Allotment – ₹ 10 per share (including premium)
  On first and final call – Balance Applications for 50,000 shares were received. Applications for 10,000 shares were rejected and their application money was refunded. Pro-rata allotment was made to the remaining applicants. Excess money received with application was adjusted towards sums due on first and final call. Sonu, an applicant of 4,000 shares, paid his entire share money with application. Vedika, to whom 300 shares were allotted, failed to pay the first and final call. After giving her the mandatory notice, her shares were forfeited. Pass necessary journal entries for the above transactions in the books of Ajanta Ltd.

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• 2.

  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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• 3.

  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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• 4.

  Sushil and Sapna were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2025, the firm was dissolved. On the date of dissolution there existed a balance of ₹ 1,20,000 in sundry creditors account. The sundry creditors were payable after three months. They were paid immediately at a discount of 12% p.a. The amount paid to sundry creditors was :

  • ₹ 1,20,000
    
  • ₹ 1,23,600
    
  • ₹ 1,16,400
    
  • ₹ 1,34,400
    
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• 5.

  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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• 6.

  John, Honey and Racob were partners in a firm sharing profits and losses equally. On 31st July, 2025 John died. His share in the profits of the firm from the date of last balance sheet till the date of his death will be:

  • Debited to Profit and Loss Account
    
  • Credited to Profit and Loss Account
    
  • Debited to Profit and Loss Suspense Account
    
  • Credited to Profit and Loss Suspense Account
    
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