CBSE 2015 Accountancy Question Paper for Class 12

About this paper

This is the CBSE Class 12 Accountancy question paper code 67/1/1 (Series SSO/1, Set 1) from the 2015 board examination, printed in both Hindi and English. It carries 80 marks over three hours and has 23 questions. Part A, on partnership firms and companies, is compulsory. Candidates then attempt either Part B, Financial Statements Analysis, or Part C, Computerised Accounting. Two questions ask for a value the firm wants to communicate: Sangam Woollens Ltd. distributing garments in Lahaul and Spiti and employing local young people, and Yash Ltd., whose motto is 'Service With Dignity'. The longer problems include a change in the profit-sharing ratio, an issue of debentures, forfeiture and reissue of shares, retirement of a partner and a cash flow statement. This copy has the questions only, without answers.

Exam

CBSE Class 12

Subject

Accountancy

Year

2015

Paper code

67/1/1

Maximum marks

80

Time allowed

3 hours

Questions

23

Pages

26

Answers included

No, questions only

Paper pattern

• Part A

  60 marks

  Accounting for Partnership Firms and Companies, Questions 1–17, compulsory: one-mark and three-mark questions, then longer problems on goodwill, debentures, dissolution, an eight-mark forfeiture and reissue of shares, and retirement of a partner

• Part B or Part C

  20 marks

  Attempt one. Part B, Financial Statements Analysis, Questions 18–23: two 1-mark, three 4-mark and one 6-mark cash flow statement. Part C, Computerised Accounting, Questions 18–23: two 1-mark, three 4-mark and one 6-mark question on a spreadsheet function

Topics covered

• Partnership fundamentals and interest on capital
• Admission of a partner
• Change in profit-sharing ratio and goodwill
• Death of a partner
• Retirement of a partner
• Dissolution of a partnership firm
• Issue of shares and securities premium
• Forfeiture and reissue of shares
• Issue and redemption of debentures
• Accounting ratios and comparative statements
• Cash flow statement
• Computerised accounting and DBMS

Questions from this paper

1. In the absence of a partnership deed, in what ratio are the profits of a firm divided among the partners?
2. On 1-4-2013 Jay and Vijay contributed capitals of ₹80,000 and ₹50,000 and agreed to share profits in the ratio 3 : 2, with interest on capital at 9% per annum. The firm earned a profit of ₹7,800. Prepare the Profit and Loss Appropriation Account for the year ended 31-3-2014.
3. Sahil and Charu shared profits in the ratio 4 : 3. On 1-4-2012 Tanu was admitted for a 1/5 share, acquired equally from Sahil and Charu. On 1-4-2013 Puneet was admitted for a 1/7 share, acquired from Sahil and Charu in the ratio 7 : 3. Calculate the new profit-sharing ratios after each admission.
4. Jeevan Dhara Ltd. invited applications for 1,20,000 equity shares of ₹10 each at a premium of ₹2 per share. Applications for 1,50,000 shares were received and allotted pro rata. Pass the journal entries for the issue, including the forfeiture and reissue at ₹9 per share of the shares of Manu and Madhur.
5. While preparing the cash flow statement, the accountant of Gulfam Ltd., a financing company, showed dividend received on investments as an investing activity. Was he correct in doing so? Give a reason.
6. From the Balance Sheet of Thermal Power Ltd. as at 31-3-2014, and the note that machinery costing ₹24,000 with accumulated depreciation of ₹16,000 was sold for ₹6,000, prepare a cash flow statement.