Goa Gbshse Class 12 Accountancy — Real Previous-Year Papers

Sweekar Ltd. purchased assets worth ₹ 16,20,000 from Rajashree Ltd. By issuing 8% Debentures of ₹ 150 per debenture at a premium of 20%. What is the total number of debentures issued by the company to settle this purchase consideration ? (a) 16,200 Debentures (b) 13,500 Debentures (c) 10,800 Debentures (d) 9,000 Debentures

Under which Sub-head will "Patents and Trademark" appear in the Balance Sheet of a Company as per Schedule III of Company's Act, 2013 ? (a) Intangible Assets (b) Tangible Assets (c) Other Current Assets (d) Other Non-current Assets

If Cost of goods sold is decreased from ₹ 2,50,000 in the year 2024 to ₹ 2,00,000 in the year 2025, what is the percentage change in cost of goods sold ? (a) 25% increase (b) 25% decrease (c) 20% increase (d) 20% decrease

Investment that has a maturity period of three months or less than three months from the date of acquisition is termed as ............................... . (a) Cash Credit (b) Cash Equivalent (c) Long Term Investment (d) Non-Current Investment

What is the total amount of interest on drawings of a partner if a partner withdraws ₹ 15,000 at the beginning of every month throughout the financial year at interest of 12% P.A. ?

A Firm's average profit is ₹ 5,00,000. The normal rate of return on capital employed of ₹ 40,00,000 is 10%. What is the value of goodwill using three years purchase of super profit ?

Which account is debited when there is increase in PDD on admission of a partner ?

Nita, Rita and Sita are partners sharing profits and losses in the ratio of 4 : 3 : 2. State the new ratio between Nita and Sita on retirement of Rita.

Which account is to be debited to write off Preliminary expenses appearing in the Balance Sheet at the time of dissolution of Partnership firm ?

When the purchase price of a business is less than the net assets acquired, then which account is credited for the difference ?

What is the Return earned by the debenture holders on their Debentures called ?

State one limitation of financial statement of a company.

Mention the formula to calculate Inventory Turnover Ratio.

How is the decrease in Debentures of a manufacturing company treated in financing activity of its Cash Flow Statement as per AS-3 ?

Anita and Shanti are partners in a firm sharing profits and losses in the ratio of 2 : 1. On 1st April 2024 their capitals were ₹ 15,00,000 and ₹ 10,00,000 respectively. Their drawings during the year were ₹ 35,000 and ₹ 30,000 respectively. The net profit for the year ending 31st March, 2025 before adjusting the below given adjustment was ₹ 8,60,000. Their partnership deed provided for the following : (1) Interest on partners capital @ 8% p.a. (2) Interest on partners drawings @ 6% p.a. (3) Salary paid to Shanti is ₹ 15,000 p.m. Prepare Profit and Loss Appropriation Account for the year ending 31st March, 2025.

Shubh and Yash are partners in a firm sharing profits and losses in the ratio of 5 : 3. Their Balance Sheet as on 31.12.2025 shows Capital Account balances at ₹ 7,00,000 and ₹ 5,00,000 for Shubh and Yash respectively. On 1st January 2026 they admitted Vikas into partnership on the following terms : Vikas is admitted for 1/5th share which he acquired entirely from Shubh. Vikas should bring ₹ 8,00,000 as his capital and ₹ 48,000 as his share of Goodwill in cash which was credited to his capital account. Prepare Partners Capital Account on admission of Vikas.

Shivank Co. Ltd issed 50,000 equity shares of ₹ 100 each at a premium of ₹ 20 per share, payable as under. On Application ₹ 45 per share Balance on Allotment including premium. Applications were received for 52,000 equity shares. Excess applications were rejected and their application money was refunded. Allotment was made to all the remaining applicants. Pass Journal Entries in the books of Shivank Co. Ltd.

Sidhant Co. Ltd. issued 30,000 9% Debentures of ₹ 50 per debenture for public subscription. The Debenture money was payable as under : On Application ₹ 20 per debenture, and On Allotment ₹ 30 per Debenture. All the debentures were subscribed by the public and money was duly received. Pass necessary journal entries in the books of Sidhant Co. Ltd.

Draft the Specimen of Statement of Company's Balance Sheet as per revised Schedule III of Company's Act 2013, showing Non-current Assets and its sub-heads.

From the following extract of Balance Sheet of Samson Co. Ltd. as on 31st March 2025, prepare a common size Balance Sheet of the company : Particulars | 31.03.2025 I. Equities and Liabilities : 1. Shareholders' Funds : (a) Share Capital | 17,00,000 (b) Reserves and Surplus | 9,00,000 2. Non-current Liabilities (a) Long-term borrowings | 12,50,000 (b) Long-term provisions | 8,00,000 3. Current Liabilities : (a) Short-term borrowings | 5,00,000 (b) Trade payables | 50,000 (c) Short-term Provisions | 62,000 Total | 52,62,000 Note : Fractions if any must be rounded off to the second digit after decimal point.

Calculate Quick Ratio from the following Information and state what it reflects about the Company's financial health : Particulars | Amount Bills Receivables | 80,000 Debtors | 2,26,000 Stock | 72,000 Bank Balance | 84,000 Short Term investment | 2,00,000 Current Liabilities | 5,90,000 Note : Fractions if any must be rounded off to the second digit after decimal point.

Radha, Prisca and Villy are partners in a firm. Their Balance Sheet as on 31-03-2023 is as under : Liabilities | (₹) | Assets | (₹) Radha's capital | 3,58,000 | Machinery | 1,74,000 Prisca's Capital | 3,00,000 | Stock in trade | 1,13,000 Villy's Capital | 2,00,000 | Debtors | 86,000 Profit and Loss A/c | 48,000 | Premises | 5,42,000 Creditors | 98,000 | Cash at Bank | 89,000 Total | 10,04,000 | Total | 10,04,000 On that date Villy decided to retire from the firm subject to the following : (1) Goodwill of the firm was valued at ₹ 90,000 (2) Assets Liabilities were to be valued as under : Stock ₹ 98,000, Premises ₹ 6,45,600, Creditors ₹ 96,000. (3) Balance in Villy's capital account to be transferred to his Loan A/c to be paid in two equal annual instalments carrying interest @ 10% p.a. Prepare : Revaluation A/c, Partners Capital A/c, Villy's Loan Account till it is fully paid.

Sara and Valency are partners sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as on 31st March, 2025 is as follows : Balance Sheet as on 31st March, 2025 Liabilities | Amount | Assets | Amount Sara's Capital | 5,00,000 | Plant and Machinery | 6,90,000 Valency's Capital | 2,50,000 | Stock | 80,000 General Reserve | 1,40,000 | Debtors | 95,000 Creditors | 85,000 | Bank Balance | 1,10,000 Total | 9,75,000 | Total | 9,75,000 They decided to dissolve the firm on the above date and the following information was available : Assets realised as follows : (1) Plant and Machinery at 10% less than the book value. (2) Stock was taken over at 80% of the book value by Sara. (3) Bad debts amounted to ₹ 5,000. (4) Valency took over the responsibility of paying dissolution expenses of ₹ 9,500. Prepare : Realisation Account, Partners Capital Account, Bank Account.

The following Ledger balances are extracted from the books of Ramson Company Ltd for the year ended 31-03-2025 : Particulars | ₹ | Particulars | ₹ Opening Stock | 95,000 | Net Sales | 9,95,000 Purchases | 4,45,000 | Rent Received | 35,000 Interest on Bank Loan | 1,700 | Share capital | 12,00,000 Cost of material consumed | 56,000 | Bank loan | 7,50,000 Depreciation | 28,000 | Provision for Tax | 58,000 Wages Salaries | 87,000 | Discount Allowed | 5,000 Additional Information : Closing Stock was valued at ₹ 1,15,000. Prepare the Statement of Profit Loss of Ramsons Company Ltd. as per revised Schedule III of Company's Act 2013 for the year ended 31-03-2025.

You are given the following information of Glamax Co. Ltd. : Balance Sheets of Glamax Co. Ltd. Liabilities | 31.03.24 | 31.03.25 | Assets | 31.03.24 | 31.03.25 Equity Share Capital | 5,00,000 | 6,50,000 | Machinery | 4,95,000 | 6,70,000 P L Account | 2,30,000 | 3,60,000 | Inventory | 1,45,000 | 1,45,000 Long Term Loans | 2,00,000 | — | Cash | 65,000 | — Bills Payable | 75,000 | 90,000 | Bank | 3,00,000 | 2,85,000 Total | 10,05,000 | 11,00,000 | Total | 10,05,000 | 11,00,000 Additional Information : Depreciation on Machinery of ₹ 35,000 was charged to P L Account. Prepare : Cash Flow Statement as per AS-3 revised for the year ended 31-03-2025 and Machinery Account.