Set- B Sub.
Code: 1041
Pre-Board Examination- 2081 (2025)
Accounting - II
Grade: XII Full Marks: 75
Time: 3 hrs. Pass Marks: 30
Candidates are required to give their answers in their own words as far as practicable.
The figures in the margin indicate full marks.
Attempt all the questions. Group – A
Very Short Answer Questions. [11× 𝟏 = 𝟏𝟏]
Attempt all the Questions.
1. What do you mean by company?
2. What do you understand by calls in advance?
3. Write the any two objectives of financial statement.
4. What is Time rate wages payment system?
5. Write the meaning of variable overhead.
6. Write the meaning of codification of materials.
7. Write a meaning of overheads.
8. State any two advantages of computerized accounting system.
9. Prepare adjustment entry of provision for tax Rs. 25,000.
10. You are given the following information:
Particulars Year I Year II
Fixed assets 2,50,000 4,50,000
Investment 1,00,000 40,000
Required: Cash flow from investing activities (CFIA).
11. If annual requirements is 60,000 units, ordering cost per order is
Rs. 10 and carrying cost is Re. 1 then find out economic order
quantity.
Group – B
Short Answer Questions [8× 𝟓 = 𝟒𝟎]
(Attempt All the Questions.)
12. ABC Co. Ltd. issued 5,000 shares of Rs. 100 each issued at 10 %
discount, payable Rs. 30 on application, Rs. 40 on allotment and first
& final call Rs. 20. A shareholder Mr. Karki who held 500 shares
were fails to pay allotment & first and final call. His shares were
forfeited, out of these 500 shares were re-issued at Rs. 90 as fully paid.
Required): Journal entry for (1+1+1.5+1.5=5)
a. Share allotment b. Share first and final call
c. Share forfeiture d. Share re-issued & Transfer
13. a) Reema Co. ltd took over the following assets & Liabilities of
Reema Co. Ltd at an agreed price of Rs. 6, 60,000.
Furniture Rs. 4, 00,000 Machinery Rs. 200,000
Inventory Rs. 25,000 Debtors Rs. 50,000
Creditors Rs. 60,000 Outstanding expenses Rs. 5,000
The company paid the purchase consideration by issuing shares of
Rs. 100 each at 10% premium
Required): Journal entry for purchase of assets and issue of share (1+1=2)
B. Himal Co. Ltd issued 1,000, 10% debentures of Rs. 100 each at discount
of 10 % and redeemable at the end of 5th years at a premium of 10 % by
converting them into equity share of Rs. 10 each at 10 % premium.
Required: Journal entries for issue and conversion of debentures. (2+1)
14. a) Differentiate between fixed cost and variable cost. (2)
b) The following are the store transactions for the month of March.
March: 1 Opening stock 800 units @Rs 5 per unit
March 6: Purchased 1200 units @ Rs. 6 per unit
March 14: Issued 900 units
March 26: Issued 500 units
March 28: Stock verification found surplus 20 units
Required: Store Ledger under FIFO Method (3)
15. The Trial Balance of Acer Co. as on 31st Dec, 2020 is given below:
Particulars Rs. (Dr.) Particulars Rs. (Cr.)
Opening stock 120,000 Sales revenue 3,60,000
Book debt 50,000 Share Capital 2,00,000
Bad debt 2,000 Creditors 30,000
Wages 50,000 Discount received 20,000
Interest paid 3,000 Purchase return 5,000
Purchase 250,000 10 % bank loan 50,000
Land 125,000
Discount allowed 10,000
Sundry expenses 20,000
Office rent 35,000
Total 6,65,000 Total 6,65,000
Additional information:
a. Closing stock Rs. 190,000 b. Office rent due of two months.
c. Appreciate land by 10 % d. provision for tax @ 20 %
Required: Income statement under company act, 2063 (5)
16. Mention the objectives of cost accounting with its definition. (2+3)
17. The Trail Balance of a company as on 31st dec., 2021 is given below:
Particulars Dr. Rs Particulars Cr. Rs
Opening stock 1,00,000 Share Capital 3,00,000
Purchases 2,00,000 Commission received 20,000
Land and building 4,00,000 Creditors 50,000
Debtors 60,000 Sales Revenue 5,40,000
Wages 80,000
Salaries 70,000
Total 9,10,000 Total 9,10,000
Additional information:
a) Appreciation on Land & building @ 10%
b) Prepaid salary of Rs. 5,000
c) Bad debt written off Rs. 5,000
Required: Worksheet (5)
18. a) The following information are given:
Standard time to produce one unit : 15 minutes
Wages rate per hour : Rs.120
Output per year : 8,000 units
Required: Total wages for the year under time rate system. (2)
b) Net Profit as per cost accounting of a Trader was Rs. 35,000. On
reconciliation the following differences were notice:
i) Work overheads recorded in financial account Rs. 15,000 but
in cost sheet Rs. 12,000.
ii) Dividend received recorded in financial account only Rs. 5,000.
iii) Closing stock over valued in cost accounting by Rs. 5,000.
Required: Cost reconciliation statement (3)
19. What is computerized accounting system? Explain any three
limitations of computerized accounting system. (2+3 =5)
OR,
Explain the usages of accounting software. (5)
Group – C [3× 𝟖 = 𝟐𝟒]
Attempt All the Questions.
20. The company balance sheet for two years have been given below:
Liabilities 2019 (Rs.) 2020 (Rs.) Assets 2019 (Rs.) 2020 (Rs.)
Share Capital 5,90,000 9,90,000 F. Assets 7,50,000 12,20,000
10 % Debenture 2,00,000 1,00,000 Inventory 160,000 1,20,000
P/L App. a/c. 2,50,000 3,00,000 Debtors 2,00,000 2,20,000
Account payable 1,50,000 2,00,000 Goodwill 40,000 10,000
Creditors 100,000 80,000 Cash 140,000 100,000
Total 12,90,000 16,70,000 Total 12,90,000 16,70,000
Income Statement for the year ending:
Particulars Amount
(Rs.)
Sales 2,50,000
Less: Cost of sales 50,000
Gross profit 2,00,000
Less: Operating expenses 60,000
(Including interest Rs. 20,000 and depreciation Rs. 10,000)
Net profit before tax 140,000
Less: Tax paid 40,000
Net profit after tax 1,00,000
Other informations:
a. Purchases of fixed assets Rs. 490,000.
b. Book value of fixed assets Rs. 50,000 was sold Rs. 55,000.
c. Redemption of debenture at par
d. Dividend paid Rs. 50,000
Required: Cash flow statement using indirect method [4+1+2+1]
[CFOA Rs. 1, 45,000 CFIA (Rs. 4,35,000) CFFA Rs. 2,50,000]
21. Trial Balance of Auto Co. Ltd. as on 31st Dec., 2021 is given below:
Particulars Rs. (Dr.) Particulars Rs. (Cr.)
Opening stock 100,000 Share Capital 2,00,000
Purchases 300,000 Sales revenue 4,50,000
Promotion expenses 20,000 10 % Debenture 100,000
Wages 40,000 Creditors 40,000
Sundry expenses 25,000 Interest received 8,000
Office expenses 30,000 Bank overdraft 17,000
Commission paid 10,000 Retained earning 30,000
Cash & bank balance 70,000
Plant & machinery 2,00,000
Debtors 50,000
Total 8,45,000 Total 8,45,000
Additional information:
a. Closing Stock valued Rs. 70,000
b. Depreciate machinery by 10 % p.a
c. Bad debts written off Rs. 5,000
d. Outstanding wages Rs. 10,000
e. Income tax @ 30 %
f. proposed dividend @ 20 %
Required: a. Multi-step Income statement b. Classifies Balance sheet(5+3)
OR,
The Trial Balance of Shiva Co. Ltd. as on 31st Dec., 2022 is given below:
Particulars Rs. (Dr.) Particulars Rs. (Cr.)
Opening stock 178,000 Share Capital 2,50,000
Purchases 2,40,000 Sales 5,50,000
Account receivable 100,000 12 % Debenture 100,000
Free of sample 15,000 Creditors 30,000
Good will written off 5,000 Acc. dep. on building 20,000
Wages 60,000 Provision for bad debt 5,000
Interest paid 10,000
Biological assets 90,000
Building 2,20,000
Insurance premium 22,000
Prepaid expenses 15,000
Total 9,55,000 Total 9,55,000
Additional information:
a. Closing Stock valued Rs. 1, 10,000 b) Depreciate building by 10 % p.a
c. Bad debts written off Rs. 10,000 d) prepaid insurance Rs. 5,000
e. Provision for tax @ 20 %
Required: a. Statement of profit or loss.
b. Statement of financial position. (4+4)
22. Cost information of a manufacturing company are given below:
Direct materials Rs. 200,000
Direct Wages Rs. 100,000
Work overheads Rs. 50,000
Administrative expenses Rs. 70,000
Selling expenses Rs. 35,000
Following cost estimation were made for submitting the tender.
Cost of materials Rs. 120,000
Direct labor cost Rs. 80,000
Overheads are to be allocated as under:
a) Factory overhead on the basis of direct wages.
b) Office and selling overheads on the basis of factory cost.
c) Net profit 10 % on tender price.
Required: a) Cost sheet b) Tender sheet (3+5=8)
Best of luck
