Rajasthan Rbse Class 12 Accountancy — Real Previous-Year Papers

Seema, Madhu and Shweta are partners in the ratio of 2 1/3 : 3 1/3 : 4 1/3 in a firm. Shweta retired from the firm. Gaining ratio will be A) 7 : 13 B) 7 : 10 C) 10 : 13 D) 13 : 7

At the time of dissolution of a firm, where is the amount of provision for bad debts on debtor is transferred? A) In Realisation A/c B) In Partners' Capital A/c C) In Partners' Loan A/c D) In Bank A/c

Consider the following statements: a. The maximum paid-up capital for a one person company can be ₹ 2 crores. b. Sweat equity share can be issued at discount. c. The average annual turnover of a one person company can be below ₹ 2 crores. Choose the correct answer from the following options. A) Only c B) a, b, c C) Both b and c D) Only a

Rashmi Limited forfeited 1500 equity shares of ₹ 10 each issued at 10% premium, on which first call of ₹ 2 per share was not received and final call ₹ 1 per share was not made. How much amount will be credited in Share Forfeiture A/c? A) ₹ 15,000 B) ₹ 13,500 C) ₹ 3,000 D) ₹ 10,500

Purchase of own equity shares by a company is called A) Buy-back of share B) Repayment C) Redemption D) Capitalisation

Read the following and give answers (Q. No. xi to xiv): "Vishakha Limited had purchased a plant of ₹ 2,97,000 from Snehlata Limited. It was agreed that purchase consideration is to be paid by issuing 8% debentures of ₹ 1,000 each at discount of 10%." How many numbers of 8% debentures will be issued in above question? A) 330 B) 297 C) 270 D) 275

(Based on the passage: "Vishakha Limited had purchased a plant of ₹ 2,97,000 from Snehlata Limited. It was agreed that purchase consideration is to be paid by issuing 8% debentures of ₹ 1,000 each at discount of 10%.") How much amount will be debited in "discount on issues of debentures account" in above question? A) ₹ 27,000 B) ₹ 27,500 C) ₹ 33,000 D) ₹ 29,700

(Based on the passage: "Vishakha Limited had purchased a plant of ₹ 2,97,000 from Snehlata Limited. It was agreed that purchase consideration is to be paid by issuing 8% debentures of ₹ 1,000 each at discount of 10%.") Which account will be credited on purchase of the plant? A) Snehlata Ltd.'s A/c B) Vishakha Ltd.'s A/c C) Plant A/c D) 8% Debenture A/c

(Based on the passage: "Vishakha Limited had purchased a plant of ₹ 2,97,000 from Snehlata Limited. It was agreed that purchase consideration is to be paid by issuing 8% debentures of ₹ 1,000 each at discount of 10%.") How much amount will be credited in 8% debentures account in above question? A) ₹ 2,75,000 B) ₹ 3,00,000 C) ₹ 2,97,000 D) ₹ 3,30,000

According to Indian Companies Act, 2013, the term "Sundry-creditor" has been replaced by which term? A) Trade receivables B) Trade payables C) Trade debtors D) Bills payables

Gayatri Limited's current ratio is 0.5 : 1. What will the effect on the current ratio, if goods purchased for cash? A) Will increase B) Will decrease C) Cannot be determined D) No change

If the market price of a company is ₹ 16 per share and earning per share is ₹ 3.2, then the price earning ratio will be A) ₹ 0.20 B) ₹ 5 C) ₹ 16 D) Cannot be determined

"Purchase of a plant for cash" is A) Cash outflow B) No cash flow C) Cannot be determined D) Cash inflow

Fill in the blank: The amount of interest on capital is shown in _____ side of Profit and Loss Appropriation Account. (Credit/Debit)

Fill in the blank: The cash or non-cash item bought by a new partner to acquire a share in the firm's profit are called _____. (Capital/Goodwill (Premium))

Fill in the blank: The balance of _____ account is capital gain for the company. (Share forfeiture/General Reserve)

Fill in the blank: The rate of return on debentures is called _____. (Dividend/Interest)

Fill in the blank: Those Assets, which are realised within _____ months are called current assets. (12/24)

Fill in the blank: While preparing the cash-flow statement, deferred tax is a _____ item. (Non-cash/Cash)

In the case of admission of a new partner, the balance of accumulated losses is written-off in which ratio?

Mahaveer and Jitendra are partners in a firm sharing profits in the ratio of 4 : 3. They admitted Vaibhav for 1/5th share in profit, which he received from Jitendra. Calculate the sacrificing ratio.

At the time of admission of a new partner, where is the value of the unrecorded liabilities transferred?

Which account is credited, when lump-sum payment is made to retiring partner?

Write any one usage of securities premium amount.

When shares are issued at premium and the premium is realised, which accounts will be debited at the time of their forfeiture?

If applicants for 15000 equity shares were alloted 13500 shares on pro-rata basis, the types of subscription will be _____.

Write the types of preference shares. (any four)

Ramkrishna Limited purchased furniture from Rajesh Limited for ₹ 1,98,000. Ramkrishna Limited issued 1800; 7% debentures of ₹ 100 each in full settlement. What is the rate of premium on debentures?

Where is the balance of the Share Forfeiture Account shown till the share is re-issued?

Write the difference between share and debenture on the basis of voting right.

Fill in the blank: Operating ratio + _____? = 100

Archana and Nidhi are equal partners in a firm. Their fixed capital were ₹ 2,00,000 and ₹ 1,00,000 respectively. If the partnership deed provide the provision for interest on capital @ 12% per annum and net profit for the year is ₹ 36,000, then prepare Profit and Loss Appropriation Account.

Vishakha is a partner in a firm. She withdrew ₹ 4,000 at the (i) beginning of each month and on the (ii) mid of each quarter. The interest on drawings is charged @ 12% per annum. In both the cases, calculate the total amount of interest on drawings.

Uma and Hina are partners in a firm sharing profits in the ratio of 1 : 3. On that date, the goodwill of the firm was valued at ₹ 18,000. They decided to distribute profits in the ratio of 2 : 1 in future. Pass necessary entry for adjustment of goodwill.

Archana, Sana and Sapana are partners in a firm. Sapana retires from the firm. On that date, her capital account shows credit balance of ₹ 1,20,000, which is to be paid into two equal half-yearly installment with interest @ 10% per annum. Calculate the amount to be paid with each installment.

Sangeeta, Suman and Sumitra are partners in a firm sharing profits in the ratio of 4 : 1 : 5. Sumitra retires from the firm. On that date, balance sheet is showing General Reserve A/c (Credit Balance) ₹ 25,800. Pass necessary journal entry for this on retirement of Sumitra.

Write any two cases of dissolution by Court of a firm.

What is calls-in-advance? Write the rate of interest on it, if Table "F" applies.

Komal Limited has issued 9%; 4,000 debentures of ₹ 100 each for a loan of ₹ 3,00,000 from Bank of Baroda as a collateral security. How will you show in Balance Sheet, if it is recorded in the books?

Write any two sub-heads of "Non-current liabilities major head" as per Schedule – III, Part – I of the Indian Companies Act, 2013.

If the net profit earned during the year is ₹ 52,000 and debtors and creditors in the beginning and at the end of year are as follows: | Items | In the beginning | At the end | |---|---|---| | Debtors | 20,000 | 12,000 | | Creditors | 10,000 | 25,000 | Find out the amount of cash flow from operating activities.

Annu, Ranu and Sonia are partners in a firm sharing profits in the ratio of 1 : 2 : 3. Sonia retired and her capital account, (after making all adjustments) shows balance of ₹ 4,40,000. Annu and Ranu agreed to pay her ₹ 5,00,000 in full settlement. Showing calculation clearly, pass necessary entry for adjustment of goodwill on Sonia's retirement, if they decided to distribute profits in 2 : 3 in future. **OR** Match List – I with List – II. | List – I (Condition) | List – II (Related Accounts/Statements) | |---|---| | i. Increase in provision for discount on debtor | a. Credit side of Revaluation Account | | ii. Transfer of Revaluation Profits | b. Debit side of Revaluation Account | | iii. Transfer of Revaluation Losses | c. Debit side of Partners' Capital A/c | | iv. Increase in the value of assets | d. Credit side of Partners' Capital A/c |

At the time of dissolution of a firm, on the basis of the following informations, prepare Partner's Capital Account: Debit balance of Capital Account – ₹ 5,000; Profits on Realisation Account – ₹ 25,000; Assets of the firm taken over by him for – ₹ 6,500. **OR** Give journal entries on dissolution of a firm: i) Liabilities paid of ₹ 8,000 by a partner Sana. ii) Preeti, a partner, received 80% in the full payment from debtors of ₹ 25,000. iii) Creditors of ₹ 20,000 is settled by Assets ₹ 25,000 which is not recorded in the books.

Raj Limited has given you following informations: | Items | 1-4-2024 (₹) | 1-4-2025 (₹) | |---|---|---| | Equity | 5,00,000 | 6,00,000 | | 10% Preference shares | 2,00,000 | 2,50,000 | | 8% Debentures | 1,50,000 | 80,000 | Additional informations: Dividend on preference shares and interest on debentures was paid on opening balance. Find the cash flow from "Financing Activities". **OR** Classify the following items into operating, investing, financing and non-cash items. i) Interest paid (on Debentures) ii) Purchase of goods from supplier iii) Written-off of goodwill iv) Purchase of plant

Current assets of Rangoli Limited are ₹ 8,00,000. Its current ratio is 1.6 : 1 and quick ratio is 1.25 : 1. Find the value of current liabilities and inventory. **OR** Calculate amount of "Gross profit" and "Sales (Revenue)" from the following informations: Average inventory = ₹ 40,000 Stock turnover ratio = 6 times Sales price = 25% above cost

Smita and Sarita are partners in a firm sharing profits in the ratio of 3 : 7. On 31st March, 2025, their Balance Sheet was follows: Balance Sheet | Liabilities | (₹) | Assets | (₹) | |---|---|---|---| | Bills payable | 1,00,000 | Bank | 90,000 | | General Reserve | 75,000 | Debtors 1,15,000 | | | Capital Accounts: | | (–) provision for bad debts 5,000 | 1,10,000 | | Smita – 1,25,000 | | Plant | 1,25,000 | | Sarita – 1,00,000 | 2,25,000 | Stock | 75,000 | | | 4,00,000 | | 4,00,000 | Additional informations: On 1st April, 2025 they admitted "Suman" as a new partner for 1/4th share in profits on the following terms: i) Suman will bring ₹ 1,50,000 for her capital and ₹ 50,000 for goodwill (premium). ii) All debtors are good. Prepare "Partners' Capital Account".

Sanjeev Limited invited applications for 50000 equity shares of ₹ 10 at 10% premium, amounts payable are as follows: On Application ₹ 4 On Allotment ₹ 5 (including premium) On first and final call ₹ 2 Applications were received for 45000 shares. Bhanu who was alloted 1000 shares, paid call money with allotment. Pass necessary journal entries in the books of Sanjeev Limited. (Only for Application and Allotment) **OR** Kanha Limited forfeited 400 equity shares of ₹ 100 each, on which ₹ 90 per share was called-up. There was calls-in-arrear of ₹ 20 each on these shares. Company re-issued these shares at ₹ 90 per share as fully paid-up. Pass necessary journal entries in the books of company for "forfeiture and re-issue of shares" and prepare share forfeiture account.

Pass the necessary journal entries in the books of Daksh Limited, the face value of a debenture is ₹ 100. i) If a debenture issued at ₹ 95; repayable at ₹ 105. ii) If a debenture issued at ₹ 90; repayable at ₹ 100. **OR** State "True and False" for the following statements: i) When debentures are issued at par and redeemable at premium, the loss on such is debited to "loss on issues of debenture account". ii) Loss on issues of debentures account can be written-off by securities premium. iii) Debentures cannot be issued at premium. iv) Loss on issue of debentures is a revenue loss. v) The payment of interest on debentures is a charge on the profits of a company. vi) Debentures can be issued at discount.