CBSE Sample Paper for Class 12 Accountancy Board Exam 2020
CBSE Class 12 Accountancy Sample Paper 2020 (PDF) is available here for download along with answers. Marking Scheme of this CBSE Sample Paper for Class 12 Accountancy is also available here. Links to download these resources are given at the end of this article.
Content from CBSE Class 12 Accountancy Sample Paper 2020:
Accountancy – Class XII
General Instructions :
i. This question paper contains two parts – A and B.
ii. Part A is compulsory for all.
iii. Part B has two options – Analysis of Financial Statements and Computerised Accounting.
iv. Attempt only one option of Part B.
v. All parts of a question should be attempted at one place.
(Accounting for Not-for-Profit Organizations, Partnership Firms and Companies)
1. How are the following items presented in financial statements of a Not-for- Profit organisation:-
(a) Tournament Fund- ₹ 80,000
(b) Tournament expenses- ₹ 14,00
Recommended Books for CBSE Class 12 Accountancy Board Exam 2020 Preparation:
2. At what rate is interest payable on the amount remaining unpaid to the executor of the deceased partner, in the absence of any agreement among partners, when (s)he opts for interest and not share of profit.
i. 12% p.a.
ii. 8% p.a.
iii. 6% p.a.
3. State the order of payment of the following, in case of dissolution of partnership firm.
(i) to each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner’ loan);
(ii) to each partner proportionately what is due to him on account of capital; and
(iii) for the debts of the firm to the third parties;
4. A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:
i. ₹ 90,000
ii. ₹ 45,000
iii. ₹ 5,400
iv. ₹ 36,00
5. Amit, a partner in a partnership firm withdrew ₹ 7,000 at the beginning of each quarter. For how many months would interest on drawings be charged?
6. Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. They had the following balance in their balance sheet, passing necessary Journal Entry:
Profit and loss Account (Dr): 60,500
7. A and B are partners in a firm. They admit C as a partner with 1/5th share in the profits of the firm. C brings ₹ 4,00,000 as his share of capital. Calculate the value of C’s share of Goodwill on the basis of his capital, given that the combined capital of A and B after all adjustments is ₹ 10,00,000.
8. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. On 2nd November 2018, Kavleen died. Kalveen’s share of profits till the date of her death was 1 calculated at₹ 9,375. Pass the necessary journal entry.
For all the questions and their answers, download sample paper and marking scheme from the links given below