CBSE 2018 Accountancy Question Paper for Class 12

About this paper

This is the CBSE Class 12 Accountancy question paper code 67/2 (Series SGN, Set 2) from the 2018 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, and Part B lets you choose between Analysis of Financial Statements and Computerised Accounting. Two value-based questions feature NK Ltd.'s technical schools for specially abled children in Jhalawar, Rajasthan, and JW Ltd.'s solar geysers for Bhiwani village in Haryana. Other questions include a retired partner's loan account, minimum debenture redemption reserve, a deceased partner's capital account and a common-size balance sheet. The two 8-mark questions each have an OR choice. This copy has the questions only, without answers.

Exam

CBSE Class 12

Subject

Accountancy

Year

2018

Paper code

67/2

Maximum marks

80

Time allowed

3 hours

Questions

23

Pages

25

Answers included

No, questions only

Paper pattern

• Part A

  60 marks

  Accounting for Partnership Firms and Companies, Questions 1–17: six 1-mark, four 3-mark, two 4-mark, three 6-mark and two 8-mark questions; OR choice in Questions 16 and 17

• Part B

  20 marks

  Questions 18–23, attempt one option: Analysis of Financial Statements (ending with a cash flow statement) or Computerised Accounting (covering database attributes, limitations of computerised accounting, null values and an Excel salary calculation); each has two 1-mark, three 4-mark and one 6-mark question

Topics covered

• Nature of partnership
• Valuation of goodwill and admission of a partner
• Retirement of a partner and loan account
• Death of a partner
• Dissolution of a partnership firm
• Profit and loss appropriation account
• Issue and forfeiture of shares
• Issue and redemption of debentures
• Financial statements of a company (Schedule III)
• Common-size statements and accounting ratios
• Cash flow statement
• Computerised accounting and databases

Questions from this paper

1. Is 'Reserve Capital' a part of 'Unsubscribed Capital' or 'Uncalled Capital'?
2. Ritesh, a consultant, and Hitesh, an architect, contributed equal amounts to buy a building for ₹2 crores, sold it a year later for ₹3 crores and shared the profit equally. Are they doing business in partnership? Give a reason.
3. Banwari, Girdhari and Murari share profits in the ratio 4 : 5 : 6. Girdhari retired on 31st March 2014, and the amount due to him was transferred to his loan account, to be paid in two yearly instalments of ₹75,000 each, including interest at 10% p.a., and the balance with interest in the third year. Prepare Girdhari's loan account until it is finally paid.
4. On 1st April 2014 KK Ltd. issued 5,000 10% debentures of ₹1,000 each at a discount of 6%, repayable at the end of the third year at a premium of 10%. Pass the journal entries for the issue and redemption, including the minimum transfer to Debenture Redemption Reserve and the investment in a 9% bank fixed deposit as required by the Companies Act, 2013.
5. State the primary objective of preparing a Cash Flow Statement.
6. Differentiate between a desktop database and a server database.