Madras University (UnOM) 2007 B.C.A Computer Application Accounts - Question Paper

Liabilities
31.12.96
Rs.
1.1.96
Rs.
Assets
31.12.96
Rs.
1.1.96
Rs.

Share Capital
12% Debentures
General Reserve
P and L A/c
Provision for taxation
Creditors
Outstanding Expenses
Bank Overdraft
2,80,000
-
1,25,000
67,000
30,000
83,000
10,000
40,000
6,35,000
2,50,000
30,000
1,00,000
40,000
22,000
1,76,000
-
70,000
6,88,000
Goodwill
Land and Building
Plant and Machinery
Investments
Stock
Debtors
Preliminary Expense
Cash
42,000
50,000
3,15,000
30,000
80,000
1,00,000
-
18,000
6,35,000
60,000
2,00,000
1,50,000
62,000
1,20,000
66,000
20,000
10,000
6,88,000


Additional info : Depreciation charged on plant and machinery during the year was Rs. 40,000 (Marks 12)



CBSE Accounts Sample ques. Paper - Year 1996
Filed under:
Class XII
Accounts

Accounts Class - XII (CBSE)
You are on Set no one Qno. one to 9

Q1) describe partnership. State the main provisions of the Partnership Act relating to partnership accounts in the absence of partnership deed. (Marks 3)

Q2) A and B are partners sharing profits in the ratio of three : two with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. B is to be allowed an annual salary of Rs. 2,500. During 1995, the profits of the year prior to computation of interest on capital but after charging B’s salary amounted to Rs. 12,500. A provision of 5% of the profits is to be made in respect of manager’s commission.
Prepare an account showing the allocation of profits and partner’s capital account. (Marks 5)

Q3) A and B are partners sharing profits in the ratio of three : 2. C is admitted as a partner. The new profit - sharing ratio among A, B and C is four : three : 2. obtain out the sacrificing ratio.

Q4) Mention the items that may appear on the debit side of the capital account of a partner when the capitals are fluctuating. (Marks 2)

Q5) A, B and C are partners sharing profits and losses in the ratio of two : three : 5. On 31st March, 1995, their Balance Sheet was as follows :


Liabilities
Rs.
Assets
Rs.


Capitals
A 36,000
B
44,000
C 52,000
Creditors
Bills Payable
P & L A/c


1,32,000
64,000
32,000
14,000

2,42,000


Cash
Bills Receivable
Furniture
Stock
Debtors
Investments
Machinery
Goodwill

18,000
24,000
28,000
44,000
42,000
32,000
34,000
20,000
2,42,000



They admit D into partnership on the subsequent terms :
1. Furniture, Investments and Machinery to be depreciated by 15%.
2. Stock is revalued at Rs. 48,000.
3. Goodwill to be valued at Rs. 26,000.
4. Outstanding rent amounted to Rs. 1,800.
5. Prepaid salaries Rs. 800.
6. D to bring Rs. 32,000 towards capital for 1/6 share and partners to re-adjust their capital accounts on the basis of their profit-sharing ratio.
7. Adjustment of capitals to be made by cash.
Prepare Revaluation Account, Partners, Capital Accounts, Cash Account and Balance Sheet of the new firm.

ners sharing profits and losses in the ratio of three : two : 1. On 31st March, 1995, their Balance Sheet was as follows :




Liabilities
Rs.
Assets
Rs.


Creditors
Bills Payable
A’s Loan
Capitals
A 80,000
B 12,000
C 40,000
General Reserve

40,200
16,800
57,000

1,32,000
9,000
2,55,000


Cash at Bank
Stock
Debtors 57,000
Less: Provision 3,000
Plant & Machinery

12,500
57,400

54,000
1,31,000

_______
2,55,000



The firm was dissolved on first April, 1995.
1. There was a Joint Life Policy of Rs. 60,000. The policy was surrendered for Rs. 15,000.
2. The assets were realised as under : Stock Rs. 47,000; Goodwill Rs. 12,000; Debtors 60% of the book value; Machinery Rs. 90,000.
3. Liabilities were paid in full.
4. The expenses on realisation amounted to Rs. 400.
You are needed to prepare the Realisation A/c, Partners’ Capital Accounts, and Bank A/c. headings will you show the subsequent items in the Balance Sheet of the company:
(i) Goodwill (ii) Unclaimed Dividends
(iii) Provision for Tax (iv) Share Premium Account
(v) Loose Tools./strong> discuss the meaning of “Debentures issued as collateral security” by company. Show its treatment in Balance Sheet. (Marks 3)

Q8) ‘N’ Ltd. problem 10,000 debentures of Rs. 100 every at a discount of 10% with the condition that they will be redeemed at a premium of 5% after the expiry of 3 years. Pass the necessary journal entries for the problem and redemption of these debentures after the expiry of 3 years.

Q9) A limited company invites applications for 50,000 equity shares of Rs. 10 every payable as follows :
On application Rs. 3
On allotment Rs. 4
On 1st call Rs. 2
On final call the balance
Applications were received for 55,000 shares. Allotments were made on the subsequent basis :
(i) To applicants for 35,000 shares - in full.
(ii) To applicants for 20,000 shares - 15,000 shares.
Excess money paid on application was utilised towards allotment money.
A shareholder who was allotted 1,500 shares out of the group applying for 20,000 shares failed to pay allotment money and money due on calls. These shares were forfeited. 1,000 forfeited shares were re-issued as fully paid on receipt of Rs. eight per share.
Show the journal entries in the books of company. (Marks 12)

Q10) What is meant by ‘Analysis of Financial Statements’? provide its advantages. (Marks 6)

Q11) State the significance and method of computation of any 2 of the subsequent :
(i) Current ratio (ii) Operating ratio
(iii) Return on investment. (Marks 6)

Q12) From the subsequent details, compute (i) Opening stock, (ii) Closing stock:
Stock turnover ratio six times.
Gross profit 20% on sales.
Sales Rs. 1,80,000.
Closing Stock is Rs. 15,000 in excess of opening stock. (Marks 3)

Q13) On the basis of subsequent information, compute
(i) Gross profit ratio, (ii) Working capital turnover ratio, (iii) Debt equity ratio. (Marks 6)

Net sales
Cost of goods Sold
Current assets
Current Liabilities
Paid-up share Capital
Debentures
Loan Rs.
30,00,000
20,00,000
6,00,000
2,00,000
5,00,000
2,50,000
1,25,000


Q14) From the subsequent Balance Sheet of Avinash Ltd., you are needed to prepare.
(i) A statement of modifications in working capital and (ii) Funds flow statement.




31.12.1994
Rs.
3.12.1995
Rs.

ASSETS
Fixed Assets
Less: Accumulated Depreciation

Investments
Stock
Debtors
Cash

LIABILITIES
Equity Share Capital
General Reserve
Bank Loan
Creditors
Bank Overdraft
Proposed Dividend
4,00,000
80,000
3,20,000
80,000
2,00,000
2,10,000
30,000
8,40,000

3,00,000
85,000
1,00,000
3,10,000
—-
45,000
8,40,000
5,50,000
1,35,000
4,15,000
1,10,000
2,25,000
1,80,000
10,000
9,40,000

4,00,000
1,10,000
75,000
2,90,000
5,000
60,000
9,40,000



Additional info :
A piece of machinery costing Rs. 50,000 was sold for Rs. 30,000, accumulated depreciation thereon being Rs. 10,000. erations’ from the subsequent profit and loss Account.

Profit and Loss Account for the year ending on 31st March, 1995



Particulars
Rs.
Particulars
Rs.

Salaries
Rent
Provision for Bad Debts
Depreciation
Loss on Sale of Land
Goodwill written off
Proposed dividend
Provision for Taxation
Net Profit
18,000
10,000
2,000
4,000
3,000
5,000
7,000
4,000
25,000
78,000
Gross Profit
Profit on Sale of Plant
Income Tax Refund
65,000
7,000
6,000

______
78,000



.
OR
Prepare a Cash Budget for the month of May and June using subsequent info :

Months
Sales
Purchases
Wages

April
May
June
62,000
64,000
58,000
38,000
33,000
39,000
8,000
10,000
8,500


i) Cash Balance as on first May, 1995 was Rs. 8,000.
(ii) 75% of the sales are realised in the identical month and rest in the subsequent month.
(iii) Period of Credit from supplier is 1 month.
(iv) Lag in payment of wages is 1 month. (Marks 6)

Q17) From the subsequent information, prepare a Comparative Income Statement: (Marks 5)

Sales
Cost of Goods Sold
Administrative, Selling and Distribution Expenses
Other Incomes
Income Tax
1994
Rs.
4,00,000
2,00,000
40,000
20,000
60,000 1995
Rs.
5,00,000
3,00,000
1,00,000
30,000
70,000

Earning:   Approval pending.