Skip to content
← All years

Accountancy · 2022

CBSE Class 12 Accountancy 2022 — Previous-Year Question Paper

CBSE Class XII Board 2022 · Set 67/1/1

Real board examination
Sets

This paper has 4 questions on a topic removed in CBSE’s 2023-24 syllabus update (each marked Not in syllabus). It’s kept for historical accuracy — the exam really asked it that year — but isn’t in the current syllabus and doesn’t count toward a concept’s importance. Switch to to focus on what’s still examinable.

About this paper

The real Class-12 board examination held in 2022. Every question below is solved the concept-first way. Sample papers are labelled honestly — never shown as a past exam.

Total marks
40
Questions
12
Duration
120 min
Sections
3

The marks / questions / duration above are the official exam pattern. We currently have 12 of this paper’s questions (100% of the full paper), with 12 fully solved. Questions we couldn’t yet extract or verify are held — never shown as complete.

Sections & marks

SectionTypeQuestionsMarks eachTotal
ASection AShort answer I (Part A 1-3 + Part B 10)428
BSection BShort answer II (Part A 4-6 + Part B 11)4312
CSection CLong answer (Part A 7-9 + Part B 12)4520
Total1240

The question paper

The questions we hold for this paper, laid out by section. Solutions are on the Answers tab.

Board Examination

Accountancy

CBSE Class XII Board 2022 · Set 67/1/1

Series/Set: 67/1/1Roll No. ________
Time Allowed: 2 hoursMaximum Marks: 40

General Instructions

  1. This question paper contains 12 questions divided into 3 sections — A, B, C.
  2. Section A comprises 4 questions of 2 marks each (Short answer I (Part A 1-3 + Part B 10)).
  3. Section B comprises 4 questions of 3 marks each (Short answer II (Part A 4-6 + Part B 11)).
  4. Section C comprises 4 questions of 5 marks each (Long answer (Part A 7-9 + Part B 12)).

Above is the official exam pattern. The questions printed below are those we currently hold for this paper.

Section A

Short answer I (Part A 1-3 + Part B 10) · 2 marks each · 4 of 4 shown

Q1.

Show the following information in the Balance Sheet of Ashoka Club as on 31.3.2021 :

ParticularsDr. (₹)Cr. (₹)
Tournament Fund2,50,000
Tournament Fund Investment2,50,000
Tournament Expenses20,000
⚠ This question is not in the current syllabus — Accounting for Not-for-Profit Organisations (removed 2023-24)
[2]
Q2.
State any two situations when compulsory dissolution of a partnership firm takes place.
[2]
Q3.
Ajay, Vijay, Sanjay and Dhananjay are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. Vijay decided to retire from the firm. The Goodwill of the firm was valued at ₹ 12,00,000. Pass necessary journal entry for the treatment of Goodwill on Vijay's retirement without opening goodwill account.
[2]
Q4.
State the objective of preparing 'Cash Flow Statement'.
[2]
Page 1 of 4
Section B

Short answer II (Part A 4-6 + Part B 11) · 3 marks each · 4 of 4 shown

Q1.
(a) From the following information, calculate the amount of sports material that will be debited to the Income and Expenditure Account of Arjun Sports Club for the year ended 31st March, 2021. | Particulars | 1st April, 2020 (₹) | 31st March, 2021 (₹) | | --- | --- | --- | | Stock of Sports Material | 1,50,000 | 2,20,000 | | Creditors for Sports Material | 35,000 | 65,000 | Additional Information : During the year, ₹ 2,80,000 were paid to the creditors of sports material. OR (b) From the following extract of 'Receipts and Payments Account' and additional information, calculate the amount of subscriptions to be shown in 'Income and Expenditure Account' for the year ended 31st March, 2021 and 'Balance Sheet' as on that date. Receipts and Payments Account for the year ended 31st March, 2021 | Receipts | Amount (₹) | Payments | Amount (₹) | | --- | --- | --- | --- | | To Subscriptions : | | | | | 2019-20 — 9,000 | | | | | 2020-21 — 40,000 | | | | | 2021-22 — 6,000 | 55,000 | | | Additional Information : The club has 500 members each paying an annual subscription of ₹ 100. Subscriptions outstanding on 31st March, 2020 were ₹ 12,000.
⚠ This question is not in the current syllabus — Accounting for Not-for-Profit Organisations (removed 2023-24)
[3]
Q2.
Vimal, Kamal and Nirmal were partners sharing profit losses in the ratio of 3 : 2 : 1. Vimal died on 30th September, 2020. The partnership deed provides that the share of profit of the deceased partner till the date of his death was to be calculated on the basis of the average profits of the last three years. The profit for the last three years were : 2017-18 ₹ 70,000; 2018-19 ₹ 80,000; 2019-20 ₹ (60,000). Calculate Vimal's share of profit till the date of his death and pass necessary journal entry for the same.
[3]
Q3.
(a) Surya Ltd. purchased machinery from Mohan Equipment Ltd. The company paid the vendors by issue of 9% debentures and the balance through an acceptance in their favour payable after three months. The accountant of the company while Journalising the above mentioned transactions left some items blank. Fill in the blanks in the given below Journal of Surya Ltd. : Journal of Surya Ltd. | Date | Particulars | LF | Debit Amount ₹ | Credit Amount ₹ | | --- | --- | --- | --- | --- | | 2021 Jan. 1 | Machinery A/c. ..... Dr. | | ___ | | | | To ______ | | | ___ | | | (Purchased Machinery for ₹ 12,50,000 from Mohan Equipment Ltd.) | | | | | " 1 | Mohan Equipment Ltd. A/c. ..... Dr. | | ___ | | | | To ______ | | | ___ | | | To Securities Premium Reserve | | | ___ | | | (Issued 8000, 9% Debentures of ₹ 100 each at a premium of 25%). | | | | | " 1 | ______ ..... Dr. | | ___ | | | | To ______ | | | ___ | | | (__________) | | | | OR (b) Sujata Ltd. invited applications for issuing 50,000, 9% debenture of ₹ 100 each at a discount of 10% redeemable at par after five years. The debentures were fully subscribed and all money was duly received. The company had a balance of ₹ 3,00,000 in 'Securities Premium Reserve' which it decided to use for writing off the discount/loss on issue of debentures. It also decided to write off the remaining discount/loss on issue of debentures in the first year. Pass the Journal entries for issue of debentures and for writing off discount/loss on issue of debentures.
[3]
Q4.
(a) From the following information, prepare Comparative statement of Profit and Loss for the year ended 31st March 2021. | Particulars | 2020-21 ₹ | 2019-20 ₹ | | --- | --- | --- | | Revenue from Operations | 4,00,000 | 2,00,000 | | Other Income | 80,000 | 40,000 | | Expenses – 50% of Revenue from operations | | | | Tax Rate 50% | | | OR (b) Prepare a 'Common Size statement of Profit and Loss' of Birla Ltd. for the year ended 31st March, 2021 from the following information : | Particulars | 2020-21 (₹) | 2019-20 (₹) | | --- | --- | --- | | Revenue from Operations | 20,00,000 | 10,00,000 | | Purchase of stock in trade | 4,00,000 | 2,00,000 | | Other expenses | 40,000 | 20,000 | | Tax Rate @ 50% | | |
⚠ This question is not in the current syllabus — Comparative Statements and Common-Size Statements (removed 2023-24)
[3]
Page 2 of 4
Section C

Long answer (Part A 7-9 + Part B 12) · 5 marks each · 4 of 4 shown

Q1.
(a) Chanda, Tara and Nisha were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They decided to dissolve the firm on 31st March, 2021. Pass necessary Journal Entries for the following transactions after all assets (other than cash and bank) and third party liabilities have been transferred to Realisation Account. (i) A typewriter completely written off from the books was sold for ₹ 9,000. (ii) Chanda took over stock worth ₹ 96,000 at ₹ 84,000. (iii) Nisha was to get remuneration of ₹ 42,000 for completing the dissolution process. (iv) Creditors of ₹ 23,500 took over all the investments at ₹ 10,000. Remaining amount was paid to them in Cash. (v) Sundry Creditors amounting to ₹ 40,000 were settled at a discount of 10%. OR (b) Heena, Meena and Tina are partners in a firm sharing profits and losses equally. Their Balance Sheet on April 1st, 2020 was as follows : Balance Sheet of Heena, Meena Tina as on 1st April, 2020 | Liabilities | Amount (₹) | Assets | Amount (₹) | | --- | --- | --- | --- | | Bills Payable | 12,000 | Building | 40,000 | | Sundry Creditors | 18,000 | Machinery | 30,000 | | General Reserve | 12,000 | Furniture | 12,000 | | Capitals : Heena | 30,000 | Stock | 22,000 | | Meena | 30,000 | Debtors 20,000 | | | Tina | 28,000 | Less : Provision for doubtful debts 1,000 | 19,000 | | | | Bank | 7,000 | | | 1,30,000 | | 1,30,000 | Tina retired from the firm on the above date and the following was agreed upon : (a) Building was to be appreciated by 20%. (b) Machinery was to be depreciated by ₹ 1,500. (c) Provision for doubtful debts was to be increased to ₹ 1,500. (d) Goodwill was valued at ₹ 21,000 on Tina's retirement and the same was to be treated without opening goodwill account. (e) The balance in Tina's Capital account will be transferred to her Loan account. Prepare Revaluation Account and Partners' Capital Accounts.
[5]
Q2.
From the following 'Receipts and Payments Account' of Space Club, prepare an Income and Expenditure Account for the year ended 31st March, 2021. Receipts and Payments Account of Space Club for the year ended 31st March, 2021 | Receipts | Amount (₹) | Payments | Amount (₹) | | --- | --- | --- | --- | | To Balance b/d | 5,000 | By Salaries | 31,000 | | To Subscriptions | 73,000 | By Machinery (1.7.2020) | 40,000 | | To Sale of old furniture (Book value ₹ 2,000) | 800 | By 8% Investments | 30,000 | | To Donations | 41,800 | By Balance c/d | 19,600 | | | 1,20,600 | | 1,20,600 | Additional Information : (i) Subscriptions in arrears on 31.03.2021 were ₹ 2,000. (ii) On 31st March, 2021, outstanding salaries were ₹ 4,000. (iii) 8% Investments were purchased on 31st March, 2021. (iv) The club owned Machinery of ₹ 1,00,000 on 1st April 2020. Depreciate Machinery @ 6% p.a.
⚠ This question is not in the current syllabus — Accounting for Not-for-Profit Organisations (removed 2023-24)
[5]
Q3.
Pass journal entries for issue of debentures for the following transactions : (i) Issued 3,000, 11% debentures of ₹ 100 each at par, redeemable at 5% premium. (ii) Issued 4,000, 12% debentures of ₹ 100 each at 5% premium, redeemable at 10% premium. (iii) Issued ₹ 3,00,000, 9% debentures of ₹ 100 each at par redeemable at par. (iv) Issued ₹ 7,00,000, 9% debentures at a discount of 10% redeemable at par. (v) Issued ₹ 10,00,000, 9% debentures of ₹ 100 each at 10% discount redeemable at 5% premium.
[5]
Page 3 of 4
Q4.
Following was the Balance Sheet of Bajaj Ltd. as on 31st March, 2021 : Bajaj Ltd. Balance Sheet as on 31st March, 2021 | Particulars | Note No. | 31.03.2021 (₹) | 31.03.2020 (₹) | | --- | --- | --- | --- | | I. Equity and Liabilities : | | | | | 1. Shareholder's funds : | | | | | (a) Share Capital | | 19,00,000 | 17,00,000 | | (b) Reserves and Surplus | 1 | 6,00,000 | 3,00,000 | | 2. Non-Current Liabilities : | | | | | 12% long term borrowings | | 5,00,000 | 4,00,000 | | 3. Current Liabilities : | | | | | (a) Short term Borrowings | 2 | 1,70,000 | 1,75,000 | | (b) Short term Provisions | 3 | 2,00,000 | 1,65,000 | | Total | | 33,70,000 | 27,40,000 | | II. Assets : | | | | | 1. Non Current Assets : | | | | | Fixed Assets | | | | | (i) Tangible Assets | 4 | 25,00,000 | 21,00,000 | | (ii) Intangible Assets | 5 | 4,00,000 | 3,00,000 | | 2. Current Assets : | | | | | (a) Current Investments | | 1,40,000 | 1,70,000 | | (b) Inventories | | 2,60,000 | 1,30,000 | | (c) Cash and Cash Equivalents | | 70,000 | 40,000 | | Total | | 33,70,000 | 27,40,000 | Notes to Accounts | Note No. | Particulars | 31.03.2021 (₹) | 31.03.2020 (₹) | | --- | --- | --- | --- | | 1 | Reserves Surplus : Surplus i.e. Balance in Statement of Profit and Loss | 6,00,000 | 3,00,000 | | 2 | Short term borrowings : Bank Overdraft | 1,70,000 | 1,75,000 | | 3 | Short term provisions : Provision for tax | 2,00,000 | 1,65,000 | | 4 | Tangible Assets : Machinery | 25,00,000 | 21,00,000 | | 5 | Intangible Assets : Goodwill | 4,00,000 | 3,00,000 | Additional Information : (i) A machine of the book value of ₹ 40,000 was sold for ₹ 50,000. (ii) Depreciation charged on machinery during the year was ₹ 2,00,000. (iii) ₹ 1,00,000, 12% long term borrowings were obtained on 31-3-2021. Calculate cash flows from investing and financing activities.
[5]
Page 4 of 4