CBSE Class 12th Accountancy Solved Guess Paper

Solved the question papers in the examination hall is an art of getting maximum marks. This art comes when you get prepared with the cbse latest marking scheme. CBSE latest marking scheme is a stepwise distribution of marks while some one writes the complete solution. This cbse class 12th  ACCOUNTANCY solved guess paper is a best example of the cbse latest marking scheme. The expert of CBSE.jagranjosh.com has prepared this guess paper to built the confidence of all the class 12th commerce students who are going to appear in cbse board exam 2014

Some question of this Practice paper are given here

Q. Enumerate the two steps of calculation of goodwill according to Super Profit Method. 1

Solution :

1. Step 1: Calculate SP

SP = Actual Profit – Normal Profit

Goodwill = SP * yrs of purchase

Q. If Interest on capital, Salaries, profit on revaluation is credited to partner's capital account, what method is followed in preparation of capital account. 1

Solution:

Capital Account is fluctuating

Q. In case of insufficient profit, what would be the treatment of interest on capital? 1

Solution:

Interest on capital shall be the profits available distributed amongst the partner in ratio of interest on capital.

Q. Give one reason, which makes holding debentures better than holding shares. 1

Solution:

- Debentures give fixed rate of interest

- Debentures are secured

- Priority in repayment   (anyone)

Q. What are zero coupon bonds? 1

Solution:

Zero coupon bonds do not carry a fixed rate of interest. The interest is actually the difference between the invested amount and the amount redeemed.

Q. Pass the necessary journal entries for following:                             3
a) Rohan Ltd issued Rs 80,000, 9% debentures at par and redeemable at 10% premium.
b) B Ltd issued Rs 84,000, 9% debentures at a premium of 5% and redeemable at par.

Solution:
9. Bank A/c Dr            80000                                                                0.5
To Debenture Application A/c         80000
Debenture Application A/c Dr         80000
Loss on issue of debenture A/c Dr     80000                                         1
To 9 % Debenture A/c             80000
To premium on Redemption
Of debenture A/c             8000
(Being debenture issued at par and Redeemable
at premium )

b Bank A/c  Dr.               84,000                                                           0.5
               To Debenture Application A/c            84000
Debenture Application A/c        84000                                                 1
To 9 % Debenture A/c              80000
To Security premium Reserve         4000
(Being Debenture issued at premium
and redeemable at par)

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