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44 views6 pagesAccounts
Accounts pfd for the homework work.
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/ 6
Maharaja Agrasain Girls Sr. Sec. School
Half Yearly Examination (2024-25)
Subject: - Accountancy Class: - 12"
Date: -21.09.2024 a Marks:
80
GFNERAL INSTRUCTION
i. This question paper contains 34 questions. All questions are compulsory.
2. Question | to 16 and 27 to 30 carries 1 mark each.
3. Questions 17 to 20, 31and 32 earries 3 marks each,
4. Questions from 21 ,22 and 33 carries 4 marks each
S. Questions from 23 to 26 and 34 carries 6 marks each
'e partners in the ratio of 3:2 their capitals are 2.00.00 and 2 1,00.000 Interst on capita is allowed
x
8% pa. firm eamed a profit of & 15,000 for the year ended 31 march 2022 Interst on capital will be:
a) X & 16000.¥ & 8,000 (b) X 2 9000,Y 2 6,000
(c) X & 10000.Y & 5.000 (d) No imterest will be allowed 1
Q:-2 A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for “4 and for which 250,000
and 210,000 are credited as a premium for goodwill to A and B respectively. The new profit sharing
of A:B:C will be: .
(b) 12:8:5 (©) 9:6:5 (d) 33:27:20 a
Q:-3 (i) Gn Ist January, 2023, Abhishek, a partner, advanced a loan of $3,00,000 to the firm. In the abser
& partnership agreement, the amount of interest on the loan for the year ending 31st March. 2023 will be
(a) 218.000 (b) 24.500 (c) 9.000 (d) No interest will be provided
OR
i) Ifa partner withdraws a fixed amount at the end of each quarter. interest on drawings will be ch:
for ___ months.
(b) 7.5 ()6 (dj 4s
Arshiya and Divya were partners in a firm sharing profits and losses in the ratio of 5: 3: 2
With effect from Ist April 2022, they agreed to share future profits and losses in the ratio of 2: 5: 3. Thei
Balance Sheet showed a debit balance of 50,000 in the Profit and Loss Account and a balance of 2
40.000 in the Investment Fluctuation Fund. The market value of an investment is 230.000 against the
book value of 250,000. Partners have decided, not to show revised valued in the balance sheet and to pass
an adjusting entry for it. Which of the following is the correct treatment of the above?
1) Samiksha’s Capital A/c. Dr. To Arshiya’s Capital A/c. To Divya’s Capital A’c 9.000 6.000 3.000
(b) Arshiya’s Capital A/c, Dr. To Samiksha’s Capital A/c. To Divya’s Capital A’e. 5.000 2.000 3.000
ya's Capital A/c. Dr. Divya’s Capital A/c. Dr. To Samiksha’s Capital A’e 2.000 1,000 3.000
OR
Sohan and Mohan are partners sharing profits and losses in the ratio of 2:3 with the capitals of & 5.00.00¢
and & 6,00,000 respectively. On Ist January 2022, Sohan and Mohan granted loans of & 20,000 an
10,000 respectively to the the firm, Determine the amount of loss to be borne by each partner for the year
ended 31st March 2022. if the loss before interest for the year amounted to % 2.500
(a) Share of Loss Sohan - 1,250 Mohan ~ & 1,250
(b) Share of Loss Sohan 2 1,000 Mohan ~ 2 1,500
ie) Arsl
Share of Loss Sohan ~ 820 Mohan ~@ 1.230
id) Share of Loss Sohan ~2 1,180 Mohan - 2 1,770 (1)
(5 Amay. Bina and Chander are partners in a firm with capital balances of & 50,000, & 70,000 and & 80.000
respectively on 31st March, 2022, Amay decides to retire from the firm on 31st March, 2022, With the help
xf the information provided, calculate the amount to be paid to Amay’ on his retirement, There eXisted a
enoral reserve of 2 7,500 in the balance sheet on that date. The goodwill of the firm was valued at 2
0,000 Gain on revaluation was 224.000
(ay 2 88.500 (b) 290,500 (6) 865.375 (a) 2 70,500 ot invested a
OR : 0.000. C has Ps
<< capital is 1,00. ary, though the de
< A‘s capita 3 0 and B's capil © a. as salary. thoug)
= i eo te soos fas an appropriation
1
1 whole business.
\, B and C are partner
fh will each part
capil 5 th:
Tount as capital but he alone manages 1 i
je ilent. Firm eamed a profit of 21,50,000, How muc!
proti -
(a) A% 60.000: Bz 60.000: CZ 30.000
{b) A £90,000: B & 30,000: C & 30.000
o)
(c) A 40. 000: BZ 40.000 and C= ),000
Az 50.000: B & 50.000 and C 1.000
(A): The court does not intervene when dissolution of part
» Dissolution of partnership takes place by mutual agreemer
a from the following :
R) are correct and Re
ership takes place.
nt between the partners.
Qe Assertion
Reason (R)
ree eer planation of Assertion (A)-
eason (R) is the correct ex ,
® {explanation of Assertion
(A) Both Assertion (A) and Reason ( i
53) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correc
A).
on (A) is incorrect, but Reason (R) is correct.
a
C) Assert
5) Assertion (A) is correct. but Reason (R) is incorrect.
on Partner's loan is credited to
pariner’s Fixed capital account —_(b) Partner's Current account
ner’s Loan Account (@) Partner's Drawings Account.
sence of an agreement, partners are entitled to: q@)
i share in capital ratio.
if) Commission for making additional sale.
iff) Interest on Loan & Advances by them to the firm.
for working extra hours.
iv) S
w) + on Capital
hoose the correct option:
a) Only i), iv) and v) (b) Only ii) and iii)
(d) Only i) and iff @
q@
¢) Only ii
)--9 Mention only one reason in which the reconsti
Gangs and Jamuna are partners sharing profits in the ratio of 2:1
future provits, On the date of admission. Ganga’s capital was & 1,02.000 and Jamuna’s capital was ¢
40), Saraswati brings % 25,000 as her share of goodwill and she agrees to contribute proportionate
a
jtution of a partnership firm can takes place.
They admit Saraswati for 1/5th share
capital of the new firm. How much capital will be brought by Saraswati?
(2) & 43.750 (b) 37,500 (©) 50,000 (a) ® 40,000
1] Green and Orange are partners. Green draws a fixed amount at the beginning of every month. Interest on
drawings is charged @8% p.a. At the end of the year interest on Green's drawin
ean Gee a a
(a) & 8.000 (b) 2 60.000 (c) = 7.000 (d) % 5,000
-12 On the day of dissolution of the firm ‘Roop Brothers” had partner's capital amounting to 21,50.00
external liabilities 735,000, Cash balance 28,000 and P&LA/c(Dr.) 27.000. If Pen a = a
joss on Realisation amounted 185,000 and £25,000 respectively, the amount realised by sale of assets fe
. 1 “ 7 00 (b) 21,45,000 (c) 21,57,000 (d) 21,50,000
fae ine a bleed hypothetical situation, Answer Question No. 13 and 14 _
ivek and Nisha were partners in a firm fit i
ive eatin Ps i pa sharing profits and losses in the ratio of 3: 2. On Ist April, 2022. thei;
the a oe were? 40,000 while. drawings of Nisha were? 80. at te Set a“
meso pits allowed @ pa nr on savings wil Bechrtedg se
y ‘st March, 2023 amounted to 2 650,000, ah deheiaad
1. The net profit Uhe amount of inte
erest on dr:
000 ‘awings of Nisha would be