{"id":22239,"date":"2018-11-23T15:54:01","date_gmt":"2018-11-23T10:24:01","guid":{"rendered":"http:\/\/mycbseguide.com\/blog\/?p=22239"},"modified":"2018-12-17T14:14:46","modified_gmt":"2018-12-17T08:44:46","slug":"cbse-question-paper-2017-class-12-accountancy","status":"publish","type":"post","link":"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/","title":{"rendered":"CBSE Question Paper 2017 class 12 Accountancy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Class_12_Accountancy_list_of_chapters\" >Class 12 Accountancy list of chapters<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Accountancy_Part_I\" >Accountancy Part I<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Accountancy_Part_II\" >Accountancy Part II<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#CBSE_Question_Paper_2017_class_12_Accountancy\" >CBSE Question Paper 2017 class 12 Accountancy<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#General_Instructions\" >General Instructions:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Section_A\" >Section A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Section_B\" >Section B<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Last_Year_Question_Paper_Class_12_Accountancy_2017\" >Last Year Question Paper Class 12\u00a0Accountancy 2017<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/#Previous_Year_Question_Paper_for_class_12_in_PDF\" >Previous Year Question Paper for class 12 in PDF<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>CBSE Question Paper 2017 class 12 Accountancy<\/strong>\u00a0conducted by Central Board of Secondary Education, New Delhi in the month of March 2017. CBSE previous year question papers with solution are available in myCBSEguide mobile app and cbse guide website. The Best CBSE App for students and teachers is myCBSEguide which provides complete study material and practice papers to cbse schools in India and abroad.<\/p>\n<p style=\"text-align: center;\"><strong>CBSE Question Paper 2017 class 12 Accountancy<\/strong><\/p>\n<p style=\"text-align: center;\"><strong><a class=\"button\" href=\"https:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-last-year-papers\/3\/\">Download as PDF<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/media-mycbseguide.s3.ap-south-1.amazonaws.com\/images\/blog\/Class%2012%20Accountancy%20Book%27\" alt=\"CBSE Question Paper 2018 class 12 Accountancy\" width=\"116\" height=\"154\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Class_12_Accountancy_list_of_chapters\"><\/span>Class 12 Accountancy list of chapters<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Accountancy_Part_I\"><\/span><strong>Accountancy Part I<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Accounting for Not-for-Profit Organisation<\/li>\n<li>Accounting for Partnership: Basic Concepts<\/li>\n<li>Reconstitution of a Partnership Firm \u2013 Admission of a Partner<\/li>\n<li>Reconstitution of Partnership Firm \u2013 Retirement\/Death of a Partner<\/li>\n<li>Dissolution of Partnership Firm<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Accountancy_Part_II\"><\/span><strong>Accountancy Part II<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Accounting for Share Capital<\/li>\n<li>Issue and Redemption of Debentures<\/li>\n<li>Financial Statements of a Company<\/li>\n<li>Analysis of Financial Statements<\/li>\n<li>Accounting Ratios<\/li>\n<li>Cash Flow Statement<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"CBSE_Question_Paper_2017_class_12_Accountancy\"><\/span>CBSE Question Paper 2017 class 12 Accountancy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"General_Instructions\"><\/span><strong>General Instructions:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>1) This question paper contains two parts A and B.<br \/>\n2) Part A is compulsory for all.<br \/>\n3) Part B has two options-Option-I Analysis of Financial Statements and Option-II Computerized Accounting.<br \/>\n4) Attempt only one option of Part B.<br \/>\n5) All parts of a question should be attempted at one place.<\/strong><\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Section_A\"><\/span><strong>Section A<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>(i) This section consists of 17 questions.<br \/>\n(ii) All the questions are compulsory.<br \/>\n(iii) Question Nos. 1 to 6 are very short-answer questions carrying 1 mark each.<br \/>\n(iv) Question Nos. 7 to 10 carry 3 marks each.<br \/>\n(v) Question Nos. 11 and 12 carry 4 marks each.<br \/>\n(vi) Question Nos. 13 to 15 carry 6 marks each.<br \/>\n(vii) Question Nos. 16 and 17 carry 8 marks each.<\/strong><\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Section_B\"><\/span><strong>Section B<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>(i) This section consists of 6 questions.<br \/>\n(ii) All questions are compulsory<br \/>\n(iii) Question Nos. 18 and 19 are very short-answer questions carrying 1 mark each.<br \/>\n(iv) Question Nos. 20 to 22 carry 4 marks.<br \/>\n(v) Question No. 23 carries 6marks.<\/strong><\/p>\n<hr \/>\n<p><strong>Q1. <\/strong><strong>Distinguish between &#8216;Fixed Capital Account&#8217; and &#8216;Fluctuating Capital Account&#8217; on the basis of credit balance.<\/strong><\/p>\n<p><strong>Q2. <\/strong><strong>A and B were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted C as a new partner. The new profit sharing ratio between A, B and C was 3 : 2 : 3. A surrendered 15th of his share in favour of C. Calculate B&#8217;s sacrifice.<\/strong><\/p>\n<p><strong>Q3. <\/strong><strong>P and Q were partners in a firm sharing profits and losses equally. Their fixed capitals were Rs 2,00,000 and Rs 3,00,000 respectively. The partnership deed provided for interest on capital @ 12% per annum. For the year ended 31<sup>st<\/sup> March, 2016, the profits of the firm were distributed without providing interest on capital.<br \/>\nPass necessary adjustment entry to rectify the error.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q4. <\/strong><strong>X Ltd. invited applications for issuing 500, 12% debentures of Rs 100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants. Pass necessary journal entries for the issue of debentures assuming that the whole amount was payable with application.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q5. <\/strong><strong>Z Ltd. forfeited 1,000 equity shares of Rs 10 each for the non-payment of the first call of Rs 2 per share. The final call of Rs 3 per share was yet to be made.<br \/>\nCalculate the maximum amount of discount at which these shares can be reissued.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q6. <\/strong><strong>Durga and Naresh were partners in a firm. They wanted to admit five more members in the firm. List any two categories of individuals other than minors who cannot be admitted by them.<\/strong><\/p>\n<p><strong>Q7. <\/strong><strong>BPL Ltd. converted 500, 9% debentures of Rs 100 each issued at a discount of 6% into equity shares of Rs 100 each issued at a premium of Rs 25 per share. Discount on issue of 9% debentures has not yet been written off.<br \/>\nShowing your working notes clearly, pass necessary journal entries for conversion of 9% debentures into equity shares.<\/strong><\/p>\n<p><strong>Q8. <\/strong><strong>Kavi, Ravi, Kumar and Guru were partners in a firm sharing profits in the ratio of 3 : 2: 2: 1. On. 1.2.2017, Guru retired and the new profit sharing ratio decided between Kavi, Ravi and Kumar was 3: 1: 1. On Guru&#8217;s retirement the goodwill of the firm was valued at Rs 3,60,000. Showing your working notes clearly, pass necessary journal entry in the books of the firm for the treatment of goodwill on Guru&#8217;s retirement.<\/strong><\/p>\n<p><strong>Q9. <\/strong><strong>Disha Ltd. purchased machinery from Nisha Ltd. and paid to Nisha Ltd. as follows:<br \/>\n(i) By issuing 10,000, equity shares of Rs 10 each at a premium of 10%.<br \/>\n(ii) By issuing 200, 9% debentures of Rs 100 each at a discount of 10%.<br \/>\n(iii) Balance by accepting a bill of exchange of Rs 50,000 payable after one month.<br \/>\nPass necessary journal entries in the books of Disha Ltd. for the purchase of machinery and making payament to Nisha Ltd.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q10. <\/strong><strong>Ganesh Ltd. is registered with an authorised capital of Rs 10,00,00,000 divided into equity shares of Rs 10 each. Subscribed and fully paid up capital of the company was Rs 6,00,00,000. For providing employment to the local youth and for the development of the tribal areas of Arunachal Pradesh the company decided to set up a hydro power plant there. The company also decided to open skill development centres in Itanagar, Pasighat and Tawang. To meet its new financial requirements, the company decided to issue 1,00,000 equity shares of Rs 10 each and 1,00,000, 9% debentures of Rs 100 each. The debentures were redeemable after five years at par. The issue of shares and debentures was fully subscribed. A shareholder holding 2,000 shares failed to pay the final call of Rs 2 per share.<br \/>\nShow the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also identify any two values that the company wishes to propagate.<\/strong><\/p>\n<p><strong>Q11.<\/strong><strong>Madhu and Neha were partners in a firm sharing profits and losses in the ratio of 3 : 5. Their fixed capitals were Rs 4,00,000 and Rs 6,00,000 respectively. On 1.1.2016, Tina was admitted as a new partner for 14th share in the profits. Tina acquired her share of profit from Neha. Tina brought Rs 4,00,000 as her capital which was to be kept fixed like the capitals of Madhu and Neha. Calculate the goodwill of the firm on Tina&#8217;s admission and the new profit sharing ratio of Madhu, Neha and Tina. Also, pass necessary journal entry for the treatment of goodwill on Tina&#8217;s admisson considering that Tina did not bring her share of goodwill premium in cash.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q12. <\/strong><strong>Ashok, Babu, and Chetan were partners in firm sharing profits in the ratio of 4 : 3 : 3. The firm closes its books on 31<sup>st<\/sup> March every year. On 31<sup>st<\/sup> December 2016, Ashok died. The partnership deed provided that on the death of a partner his executors will be entitled to the following:<br \/>\n(i) Balance in his capital account. On 1.4.2016,\u00a0there was a balance of Rs 90,000 in Ashok&#8217;s Capital Account.<br \/>\n(ii) Interest on capital @ 12% per annum.<br \/>\n(iii) His share in the profits of the firm in the year of his death will be calculated on the basis of rate of net profit on sales of the previous year, which was 25%. The sales of the firm till 30<sup>st<\/sup> December, 2016 were Rs 4,00,000.<br \/>\n(iv) His share in the goodwill of the firm. The goodwill of the firm on Ashok&#8217;s detah was valued at Rs 4,50,000.<br \/>\nThe partnership deed also provided for the following deductions from the amount payable to the executor of the deceased partner:<br \/>\n(i) His drawings in the year of his death. Ashok&#8217;s drawings till 31.12.2016 were Rs 15,000.<br \/>\n(ii) Interest on drawing @ 12% per annum which was calculated as Rs 1,500.<br \/>\nThe accountant of the firm prepared Ashok&#8217;s Capital Account to be presented to the executor of Ashok but in a hurry he left in incomplete. Ashok&#8217;s Capital Account as prepared by the firm&#8217;s accountant is given below:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><strong>Dr.<\/strong><\/td>\n<td colspan=\"4\"><strong>Ashok\u2019s Capital Account<\/strong><\/td>\n<td><strong>Cr.<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Date<\/strong><\/td>\n<td><strong>Particulars<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td><strong>Date<\/strong><\/td>\n<td><strong>Particulars<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>2016<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2016<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>15,000<\/strong><\/td>\n<td><strong>April 1<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>90,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>8,100<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>40,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>90,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>Dec 31<\/strong><\/td>\n<td><strong>\u2026\u2026\u2026\u2026\u2026<\/strong><\/td>\n<td><strong>90,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>3,18,100<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>3,18,100<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>You are required to complete Ashok&#8217;s Capital Account.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q13. <\/strong><strong>A, B, C and D were partners in a firm sharing profits in the ratio of 3 : 2 : 3 : 2. On 1.4.2016, their Balance Sheet was as follows:\u00a0\u00a0\u00a0 (6)<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td colspan=\"5\"><strong>Balance Sheet of A, B, C and D<\/strong><\/p>\n<p><strong>as on 1.4.2016<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Liabilities<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td><strong>Assets<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Capitals:<\/strong><\/td>\n<td><\/td>\n<td><strong>Fixed Assets<\/strong><\/td>\n<td><strong>8,25,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>A<\/strong><\/td>\n<td><strong>2,00,000<\/strong><\/td>\n<td><\/td>\n<td><strong>Current Assets<\/strong><\/td>\n<td><strong>3,00,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>B<\/strong><\/td>\n<td><strong>2,50,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>C<\/strong><\/td>\n<td><strong>2,50,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>D<\/strong><\/td>\n<td><strong>3,10,000<\/strong><\/td>\n<td><strong>10,10,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Sundry Creditors<\/strong><\/td>\n<td><strong>90,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Workmen Compensation Reserve<\/strong><\/td>\n<td><strong>25,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><strong>11,25,000<\/strong><\/td>\n<td><\/td>\n<td><strong>11,25,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>From the above date partners decided to share the future profits in the ratio of 4 : 3 : 2 : 1. For this purpose the goodwill of the firm was valued at Rs 2,70,000. It was also considered that:<br \/>\n(i) The claims against Workmen Compensation Reserve has been estimated at Rs 30,000 and fixed assets will be depreciated by Rs 25,000.<br \/>\n(ii) Adjust the capitals of the partners according to the new profit sharing ratio by opening Current Accounts of the partners.<br \/>\nPrepare Revaluation Account, Partners&#8217; Capital Accounts and the Balance Sheet of the reconstituted firm.<\/strong><\/p>\n<p><strong>Q14. <\/strong><strong>On 1.4.2015, J.K. Ltd. issued 8,000, 9% debentures of Rs 1,000 each at a discount of 6%, redeemable at a premium of 5% after three years. The company closes its books on 31<sup>st<\/sup> March every year. Interest on 9% debentures is payable on 30<sup>th<\/sup>\u00a0 September and 31<sup>st<\/sup> March every year. The rate of tax deducted at source is 10%.<br \/>\nPass necessary journal entries for the issue of debentures and debenture interest for the year ended 31.3.2016.\u00a0<\/strong><\/p>\n<p><strong>Q15. <\/strong><strong>Pass necessary journal entries on the dissolution of a partnership firm in the following cases:<br \/>\n(i) Dissolution expenses were Rs 800.<br \/>\n(ii) Dissolution expenses Rs 800 were paid by Prabhu, a partner.<br \/>\n(iii) Geeta, a partner, was appointed to look after the dissolution work, for which she was allowed a remuneration of Rs 10,000. Geeta agreed to bear the dissolution expenses. Actual dissolution expenses Rs 9,500 were paid by Geeta.<br \/>\n(iv) Janki, a partner, agreed to look after the dissolution work for a commission of Rs 5,000. Janki agreed to bear the dissolution expenses. Actual dissolution expenses Rs 5,500 were paid by Mohan, another partner, on behalf of Janki.<br \/>\n(v) A partner, Kavita, agreed to look after the dissolution process for a commission of Rs 9,000. She also agreed to bear the dissolution expenses. Kavita took over furniture of Rs 9,000 for her commission. Furniture had already been transferred to realisation\u00a0 account.<br \/>\n(vi) A debtor, Ravinder, for Rs 19,000 agreed to pay the dissolution expenses which were Rs 18,000 in full settlement of his debt.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q16. <\/strong><strong>C and D are partners in a firm sharing profits in the ratio of 4 : 1. On 31.3.2016, their Balance Sheet was as follows:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td colspan=\"5\"><strong>Balance Sheet of C and D<\/strong><\/p>\n<p><strong>as on 31.3.2016<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Liabilities<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td><strong>Assets<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Sundry Creditors<\/strong><\/td>\n<td><strong>40,000<\/strong><\/td>\n<td><strong>Cash<\/strong><\/td>\n<td><strong>24,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Provision for Bad Debts<\/strong><\/td>\n<td><strong>4,000<\/strong><\/td>\n<td><strong>Debtors<\/strong><\/td>\n<td><strong>36,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Outstanding Salary<\/strong><\/td>\n<td><strong>6,000<\/strong><\/td>\n<td><strong>Stock<\/strong><\/td>\n<td><strong>40,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>General Reserve<\/strong><\/td>\n<td><strong>10,000<\/strong><\/td>\n<td><strong>Furniture<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><strong>Plant &amp; Machinery<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Capitals:<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>C<\/strong><\/td>\n<td><strong>1,20,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>D<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<td><strong>2,00,000<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><strong>2,60,000<\/strong><\/td>\n<td><\/td>\n<td><strong>2,60,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>On the above date, E was admitted for 14<sup>th<\/sup> share in the profits on the following terms:<\/strong><\/p>\n<p>(i) E will bring Rs 1,00,000 as his capital and Rs 20,000 for his share of goodwill premium, half of which will be withdrawn by C and D.<br \/>\n(ii) Debtors Rs 2,000 will be written off as bad debts and a provision of 4% will be created on debtors for bad and doubtful debts.<br \/>\n(iii) Stock will be reduced by Rs 2,000, furniture will be depreciated by 4,000 and 10%, depreciation will be charged on plant and machinery.<br \/>\n(iv) Investments Rs 7,000 not shown in the Balance Sheet will be taken into account.<br \/>\n(v) There was an an outstanding repairs bill of Rs 2,300 which will be recorded in the books.<br \/>\nPass necessary journal entries for the above transactions in the books of the firm on E\u2019s admission.<\/p>\n<p><strong>OR<\/strong><\/p>\n<p><strong>Sameer, Yasmin and Saloni were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. On 31.3.2016, their Balance Sheet was as follows:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td colspan=\"6\"><strong>Balance Sheet of Sameer, Yasmin and Saloni<\/strong><\/p>\n<p><strong>as on 31.3.2016<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Liabilities<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td colspan=\"2\"><strong>Assets<\/strong><\/td>\n<td><strong>Amount<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Creditors<\/strong><\/td>\n<td><strong>1,10,000<\/strong><\/td>\n<td colspan=\"2\"><strong>Cash<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>General Reserve<\/strong><\/td>\n<td><strong>60,000<\/strong><\/td>\n<td><strong>Debtors<\/strong><\/td>\n<td><strong>90,000<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><strong>Capitals:<\/strong><\/td>\n<td><\/td>\n<td><strong>Less<\/strong><strong>: Provision<\/strong><\/td>\n<td><strong>10,000<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Sameer<\/strong><\/td>\n<td><strong>3,00,000<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Stock<\/strong><\/td>\n<td><strong>1,00,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Yasmin<\/strong><\/td>\n<td><strong>2,50,000<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Machinery<\/strong><\/td>\n<td><strong>3,00,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Saloni<\/strong><\/td>\n<td><strong>1,50,000<\/strong><\/td>\n<td><strong>7,00,000<\/strong><\/td>\n<td colspan=\"2\"><strong>Building<\/strong><\/td>\n<td><strong>2,00,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Patents<\/strong><\/td>\n<td><strong>60,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Profit &amp; Loss A\/c<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><strong>8,70,000<\/strong><\/td>\n<td colspan=\"2\"><\/td>\n<td><strong>8,70,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>On the above date, Sameer retired and it agreed that:<br \/>\n(i) Debtors of Rs 4,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained.<br \/>\n(ii) An unrecorded creditor of Rs 20,000 will be recorded.<br \/>\n(iii) Patents will be completely written off and 5% depreciation will be charged on stock, machinery and building.<br \/>\n(iv) Yasmin and Saloni will share the future profits in the ratio of 3 : 2.<br \/>\n(v) Goodwill of the firm on Sameer\u2019s retirement was valued at Rs 5,40,000.<br \/>\nPass necessary journal entries for the above transactions in the books of the firm on Sameer\u2019s retirement.<\/strong><\/p>\n<p><strong>Q17. <\/strong><strong>VXN Ltd. invited applications for issuing 50,000 equity shares of Rs 10 each at a premium of Rs 8 per share. The amount was payable as follows:<br \/>\nOn Application Rs 4 per share (including Rs 2 premium).<br \/>\nOn Allotment Rs 6 per share (including Rs 3 premium).<br \/>\nOn First Call Rs 5 per share (including Rs 1 premium).<br \/>\nOn Second and Final Call \u2013 Balance Amount.<br \/>\nThe issue was fully subscribed. Gopal, a shareholder holding 200 shares, did not pay the allotment money and Madhav, a holder of 400 shares, paid his entire share money along with the allotment money. Gopal&#8217;s shares were immediately forfeited after allotment. Afterwards, the first call was made. Krishna, a holder of 100 shares, failed to pay the first call money and Girdhar, a holder of 300 shares, paid the second call money also along with the first call. Krishna&#8217;s shares were forfeited immediately after the first call. Second and final call was made afterwards and was duly received. All the forfeited shares were reissued at Rs 9 per share fully paid up.<br \/>\nPass necessary Journal Entries for the above transactions in the books of the company.<\/strong><\/p>\n<p><strong>OR<\/strong><\/p>\n<p><strong>JJK Ltd. invited applications for issuing 50,000 equity shares of Rs 10 each at par. The amount was payable as follows:<br \/>\nOn Application: Rs 2 per share.<br \/>\nOn Allotment : Rs 4 per share.<br \/>\nOn First and Final Call : Balance Amount<\/strong><\/p>\n<p><strong>The issue was over-subscribed three times. Applications for 30% shares were rejected and money refunded. Allotment was made to the remaining applicants as follows:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><strong>Category<\/strong><\/td>\n<td><strong>No. of Shares Applied<\/strong><\/td>\n<td><strong>No. of Shares Allotted<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>I<\/strong><\/td>\n<td><strong>80,000<\/strong><\/td>\n<td><strong>40,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>II<\/strong><\/td>\n<td><strong>25,000<\/strong><\/td>\n<td><strong>10,000<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Excess money paid by the applicants who were allotted shares was adjusted towards the sums due on allotment.<br \/>\nDeepak, a shareholder belonging to Category I, who had applied for 1,000 shares, failed to pay the allotment money. Raju, a shareholder holding 100 shares, also failed to pay the allotment money. Raju belonged to Category II. Shares of both Deepak and Raju were forfeited immediately after allotment. Afterwards, first and final call was made and was duly received. The forfeited shares of Deepak and Raju were reissued at Rs 11 per share fully paid up.<br \/>\nPass necessary Journal entries for the above transactions in the books of the company.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q18. <\/strong><strong>Normally, what should be the maturity period for a short term investment from the date of its acquisition to be qualified as cash equivalents?<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q19. <\/strong><strong>State the primary objective of preparing a cash flow statement.<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q20. <\/strong><strong>What is meant by &#8216;Analysis of Financial Statements&#8217;? State any two objectives of such an analysis.\u00a0<\/strong><\/p>\n<p><strong>Q21. <\/strong><strong>The proprietary ratio of M. Ltd. is 0.80 : 1.<br \/>\nState with reasons whether the following transactions will increase, decrease or not change the proprietary ratio:<br \/>\n(i) Obtained a loan from bank Rs 2,00,000 payable after five years.<br \/>\n(ii) Purchased machinery for cash Rs 75,000.<br \/>\n(iii) Redeemed 5% redeemable preference shares Rs 1,00,000.<br \/>\n(iv) Issued equity shares to the vendors of machinery purchased for Rs 4,00,000.<\/strong><\/p>\n<p><strong>Q22. <\/strong><strong>Financial statements are prepared following the consistent accounting concepts, principles, procedures and also the legal environment in which the business organisations operate. These statements are the sources of information on the basis of which conclusions are drawn about the profitability and financial position of a company so that their users can easily understand and use them in their economic decisions in a meaningful way.<br \/>\nFrom the above statement identify any two values that a company should observe while preparing its financial statements. Also, state under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.<br \/>\n(i) Capital Reserve<br \/>\n(ii) Calls-in-Advance<br \/>\n(iii) Loose Tools<br \/>\n(iv) Bank Overdraft<\/strong><a><strong>\u00a0<\/strong><\/a><\/p>\n<p><strong>Q23. <\/strong><strong>From the following Balance Sheet of SRS Ltd. and the additional information as on 31.3.2016, prepare a Cash Flow Statement:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td colspan=\"4\"><strong>Balance Sheet of SRS Ltd. as on 31.3.2016<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Particulars<\/strong><\/td>\n<td><strong>Note<\/strong><strong> No.<\/strong><\/td>\n<td><strong>31.03.2016<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td><strong>31.03.2015<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>I. Equity and Liabilities :<\/strong><\/p>\n<p><strong>1.<\/strong><strong> Shareholder&#8217;s Funds :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(a) Share Capital<\/strong><\/td>\n<td><\/td>\n<td><strong>4,50,000<\/strong><\/td>\n<td><strong>3,50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>(b) Reserves and Surplus<\/strong><\/td>\n<td><strong>1<\/strong><\/td>\n<td><strong>1,25,000<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>2. Non-Current Liabilities :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Long-term Borrowings<\/strong><\/td>\n<td><strong>2<\/strong><\/td>\n<td><strong>2,25,000<\/strong><\/td>\n<td><strong>1,75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>3. Current Liabilities :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(a) Short-term Borrowings<\/strong><\/td>\n<td><strong>3<\/strong><\/td>\n<td><strong>75,000<\/strong><\/td>\n<td><strong>37,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>(b) Short-term Provisions<\/strong><\/td>\n<td><strong>4<\/strong><\/td>\n<td><strong>1,00,000<\/strong><\/td>\n<td><strong>62,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td><\/td>\n<td><strong>9,75,000<\/strong><\/td>\n<td><strong>6,75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>II. Assets :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>1. Non-Current Assets :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(a) Fixed Assets :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(i) Tangible<\/strong><\/td>\n<td><strong>5<\/strong><\/td>\n<td><strong>7,32,500<\/strong><\/td>\n<td><strong>4,52,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>(ii) Intangible<\/strong><\/td>\n<td><strong>6<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<td><strong>75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(b) Non-Current Investments<\/strong><\/td>\n<td><\/td>\n<td><strong>75,000<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>2. Current Assets :<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>(a) Current Investments<\/strong><\/td>\n<td><\/td>\n<td><strong>20,000<\/strong><\/td>\n<td><strong>35,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>(b) Inventories<\/strong><\/td>\n<td><strong>7<\/strong><\/td>\n<td><strong>61,000<\/strong><\/td>\n<td><strong>36,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>(c) Cash and Cash Equivalents<\/strong><\/td>\n<td><\/td>\n<td><strong>36,500<\/strong><\/td>\n<td><strong>26,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td><\/td>\n<td><strong>9,75,000<\/strong><\/td>\n<td><strong>6,75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u00a0<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td colspan=\"4\"><strong>\u00a0\u00a0\u00a0\u00a0\u00a0Notes to Ac\u00a0counts <\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Note<\/strong><\/p>\n<p><strong>No.<\/strong><\/td>\n<td><strong>Particulars<\/strong><\/td>\n<td><strong>31.03.2016<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<td><strong>31.03.2015<\/strong><\/p>\n<p><strong>(Rs)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>1.<\/strong><\/td>\n<td><strong>Reserves and Surplus<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>(Surplus i.e., Balance in the Statement of Profit and Loss)<\/strong><\/td>\n<td><strong>1,25,000<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>1,25,000<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>2.<\/strong><\/td>\n<td><strong>Long-term Borrowings<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>12% Debentures<\/strong><\/td>\n<td><strong>2,25,000<\/strong><\/td>\n<td><strong>1,75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>2,25,000<\/strong><\/td>\n<td><strong>1,75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>3.<\/strong><\/td>\n<td><strong>Short-term Borrowings<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Bank Overdraft<\/strong><\/td>\n<td><strong>75,000<\/strong><\/td>\n<td><strong>37,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>75,000<\/strong><\/td>\n<td><strong>37,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>4.<\/strong><\/td>\n<td><strong>Short-term Provisions<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Proposed Dividend<\/strong><\/td>\n<td><strong>1,00,000<\/strong><\/td>\n<td><strong>62,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>1,00,000<\/strong><\/td>\n<td><strong>62,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>5.<\/strong><\/td>\n<td><strong>Tangible Assets<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Machinery<\/strong><\/td>\n<td><strong>8,37,500<\/strong><\/td>\n<td><strong>5,22,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Accumulated Depreciation<\/strong><\/td>\n<td><strong>(1,05,000)<\/strong><\/td>\n<td><strong>(70,000)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>7,32,500<\/strong><\/td>\n<td><strong>4,52,500<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>6.<\/strong><\/td>\n<td><strong>Intangible Assets<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Goodwill<\/strong><\/td>\n<td><strong>50,000<\/strong><\/td>\n<td><strong>75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>50,000<\/strong><\/td>\n<td><strong>75,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>7.<\/strong><\/td>\n<td><strong>Inventories<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><strong>Stock in Trade<\/strong><\/td>\n<td><strong>61,000<\/strong><\/td>\n<td><strong>36,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><strong>61,000<\/strong><\/td>\n<td><strong>36,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Additional Information<\/strong><strong> :<\/strong><\/p>\n<p><strong>(i) Rs 50,000, 12% debentures were issued on 31.3.2016.<\/strong><\/p>\n<p><strong>(ii)\u00a0 During the year a piece of machinery costing Rs 40,000 on which accumulated depreciation was Rs 20,000, was sold at a loss of Rs 5,000.<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>These are questions only. To view and download complete question paper with solution install myCBSEguide App from google play store or login to our\u00a0<a href=\"https:\/\/mycbseguide.com\/dashboard\/\">student dashboard<\/a>.<\/strong><\/p>\n<p style=\"text-align: center;\"><b><strong><a class=\"button\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.techchefs.MyCBSEGuide&amp;referrer=utm_source%3Dmycbse_bottom%26utm_medium%3Dtext%26utm_campaign%3Dmycbseads\">Download myCBSEguide App<\/a><\/strong><\/b><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Last_Year_Question_Paper_Class_12_Accountancy_2017\"><\/span>Last Year Question Paper Class 12\u00a0Accountancy 2017<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Download class 12 Accountancy question paper with solution from best CBSE App the myCBSEguide. CBSE class 12 Accountancy question paper 2017 in PDF format with solution will help you to understand the latest question paper pattern and marking scheme of the CBSE board examination. You will get to know the difficulty level of the question paper.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Previous_Year_Question_Paper_for_class_12_in_PDF\"><\/span>Previous Year Question Paper for class 12 in PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CBSE question papers 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 209, 2008, 2007, 2006, 2005 and so on for all the subjects are available under this download link. Practicing real question paper certainly helps students to get confidence and improve performance in weak areas.<\/p>\n<ul>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physics\/1251\/cbse-last-year-papers\/3\/\">Physics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-chemistry\/1267\/cbse-last-year-papers\/3\/\">Chemistry<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-mathematics\/1284\/cbse-last-year-papers\/3\/\">Mathematics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-biology\/1298\/cbse-last-year-papers\/3\/\">Biology<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-accountancy\/1315\/cbse-last-year-papers\/3\/\">Accountancy<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-business-studies\/1727\/cbse-last-year-papers\/3\/\">Business Studies<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-economics\/1327\/cbse-last-year-papers\/3\/\">Economics<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-history\/1869\/cbse-last-year-papers\/3\/\">History<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-geography\/1863\/cbse-last-year-papers\/3\/\">Geography<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-political-science\/1879\/cbse-last-year-papers\/3\/\">Political Science<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-physical-education\/1877\/cbse-last-year-papers\/3\/\">Physical Education<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-computer-science\/1851\/cbse-last-year-papers\/3\/\">Computer Science<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-informatics-practices\/1873\/cbse-last-year-papers\/3\/\">Informatics Practices<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-english-core\/1855\/cbse-last-year-papers\/3\/\">English Core<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-hindi-core\/1865\/cbse-last-year-papers\/3\/\">Hindi Core<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12-hindi-elective\/1867\/cbse-last-year-papers\/3\/\">Hindi Elective<\/a><\/li>\n<li><a href=\"http:\/\/mycbseguide.com\/downloads\/cbse-class-12\/1250\/\">Other Subjects<\/a><\/li>\n<\/ul>\n<p>To download CBSE Question Paper class 12 Accountancy, Chemistry, Physics, History, Political Science, Economics, Geography, Computer Science, Home Science, Business Studies and Home Science; do check myCBSEguide app or website. myCBSEguide provides sample papers with solution, test papers for chapter-wise practice, NCERT solutions, NCERT Exemplar solutions, quick revision notes for ready reference, CBSE guess papers and CBSE important question papers. Sample Paper all are made available through\u00a0<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.techchefs.MyCBSEGuide&amp;referrer=utm_source%3Dmycbse_bottom%26utm_medium%3Dtext%26utm_campaign%3Dmycbseads\"><strong>the best app for CBSE students<\/strong><\/a>\u00a0and myCBSEguide website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBSE Question Paper 2017 class 12 Accountancy\u00a0conducted by Central Board of Secondary Education, New Delhi in the month of March 2017. CBSE previous year question papers with solution are available in myCBSEguide mobile app and cbse guide website. The Best CBSE App for students and teachers is myCBSEguide which provides complete study material and practice &#8230; <a title=\"CBSE Question Paper 2017 class 12 Accountancy\" class=\"read-more\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/\" aria-label=\"More on CBSE Question Paper 2017 class 12 Accountancy\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1436,1346,1014],"tags":[322,1527,1342,80,1566,1569],"class_list":["post-22239","post","type-post","status-publish","format-standard","hentry","category-accountancy-cbse-class-12","category-cbse","category-cbse-question-papers","tag-accountancy","tag-cbse-question-paper","tag-class-12","tag-last-year-papers","tag-previous-question-paper","tag-ten-year-questions-paper"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBSE Question Paper 2017 class 12 Accountancy | myCBSEguide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mycbseguide.com\/blog\/cbse-question-paper-2017-class-12-accountancy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBSE Question Paper 2017 class 12 Accountancy | myCBSEguide\" \/>\n<meta property=\"og:description\" content=\"CBSE Question Paper 2017 class 12 Accountancy\u00a0conducted by Central Board of Secondary Education, New Delhi in the month of March 2017. 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