ppr2.pdf - Accountancy Set-2 Maximum Marks 90 Time allowed...

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Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks Accountancy Set-2 Time allowed: 3 hours Maximum Marks: 90 General Instructions: 1) This question paper contains two parts A and B . 2) Part A is compulsory for all. 3) Part B has two options-Option- I Analysis of Financial Statements and Option- II Computerized Accounting. 4) Attempt only one option of Part B . 5) All parts of a question should be attempted at one place. Section A (i) This section consists of 17 questions. (ii) All the questions are compulsory. (iii) Question Nos. 1 to 6 are very short-answer questions carrying 1 mark each. (iv) Question Nos. 7 to 10 carry 3 marks each. (v) Question Nos. 11 and 12 carry 4 marks each. (vi) Question Nos. 13 to 15 carry 6 marks each. (vii) Question Nos. 16 and 17 carry 8 marks each. Section B (i) This section consists of 6 questions. (ii) All questions are compulsory (iii) Question Nos. 18 and 19 are very short-answer questions carrying 1 mark each. (iv) Question Nos. 20 to 22 carry 4 marks. (v) Question No. 23 carries 6 marks. Section A Q1 On 28.2.2016 the first call of Rs 2 per share became due on 50,000 equity shares alloted by Kumar Ltd. Komal a holder of 1000 shares did not pay the first call money. Kovil a holder of 750 shares paid the second and final call of Rs 4 per share alongwith the first call. Pass the necessary journal entry for the amount received by opening calls - in – arrears and calls - in - advance account in the books of the company. Q2 Distinguish between 'Dissolution of partnership' and 'Dissolution of partnership firm' on the basis of 'Economic Relationship'. Q3 State the provisions of Companies Act, 2013 for the creation of 'Debenture Redemption Reserve'. Q4 Tom and Harry were partners in a firm sharing profits in the ratio of 5 : 3. During the year ended 31.3.2015 Tom had withdrawn Rs 40,000. Interest on his drawings amounted to Rs 2,000. Pass necessary journal entry for charging interest on drawings assuming that the capitals of the partners were fluctuating.
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Material downloaded from http://myCBSEguide.com and http://onlineteachers.co.in Portal for CBSE Notes, Test Papers, Sample Papers, Tips and Tricks Q5 A group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given. Q6 P, Q and R were partners in a firm sharing profits in the ratio of 3 : 2 : 1. They admitted S as a new partner for 1 8 th share in the profits which he acquired 1 16 th from P and 1 16 th from Q. Q7 To provide employment to the youth and to develop Baramula district of Jammu and Kashmir, Jyoti Power Ltd. decided to setup a power plant. For raising funds the company decided to issue 8,50,000 equity shares of Rs 10 each at a premium of Rs 3 per share. The whole amount was payable on application. Applications for 20,00,000 shares were received. Applications for 3,00,000 shares were rejected and shares were alloted to the remaining applicants on pro- rata basis.
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