Goa Board Class 12 Question Paper Mar 2018 Accountancy _Old Pattern_

*V225* 2018 III 08 1000 Seat No. : Time : 2 Hours ACCOUNTANCY (Old Pattern) Subject Code V 2 2 5 Total No. of Questions : 5 (Printed Pages : 2) Maximum Marks : 50 INSTRUCTIONS : I) Answer each question on a fresh page. II) Write the number of questions and sub-questions clearly. III) All questions are compulsory. IV) Figures to the right indicate full marks. V) Use of calculator not allowed. 1. A) Fill in the blanks by selecting appropriate word/s : [1] i) The method of depreciation under which an equal amount of depreciation is charged throughout the economic life of an asset is ___________ • Fixed Instalment Method • Reducing Balance Method • Revaluation Method • Depletion Method B) Name the account to be credited when the asset is sold. [1] C) State and explain any three causes of depreciation. [3] D) Draw a neat proforma of Trading Account showing at least five items on either side. [5] 2. A) Write the meaning of term ‘Partnership’. [1] B) What is ‘Sacrifice Ratio’ ? [1] C) Distinguish between Fixed Capital Method and Fluctuating Capital Method (any three points of distinction). [3] D) Explain the legal provisions of dissolution of the partnership firm. [5] OR State and explain the circumstances leading to the dissolution of a partnership firm. V-225 -1- P.T.O.

*V225* 3. A) Fill in the blanks by selecting appropriate word/s : [1] i) When the goodwill is brought in cash by a new partner at the time of admission of a Partner, the account to be credited is ____________ • All Partner’s Capital Account • Old Partner’s Capital Account • Goodwill Account • Cash Account B) What is meant by ‘Retirement of a partner’ ? [1] C) State six reasons of admission of a new partner in partnership. [3] D) Draw a neat specimen of a ‘Proforma Invoice’. [5] OR Draw a neat specimen of an ‘Account Sales’. 4. A) What is meant by ‘Gain Ratio’ ? [1] B) Suraj, Neeraj and Dheeraj were partners sharing profits and losses in the ratio of 3 : 2 : 1. Neeraj retires. Suraj and Dheeraj decided to share future profits and losses in the ratio of 2 : 1. Find the Gain Ratio. [2] C) State any four features of Receipts & Payments Account. [2] D) Explain the following : [2] i) Capital Expenditure. ii) Revenue Expenditure. E) Distinguish between Consignment and Sale. (any three points of distinction) [3] 5. A) Name the account to which deceased partner’s capital balance is transferred. [1] B) Explain the following : [2] i) Entrance fees ii) Legacy. C) Write a short note on ‘Deferred Revenue Expenditure’. [2] D) State and explain any two features of a company. [2] E) Explain the following : [3] i) Issue of shares at par. ii) Issue of share at premium. iii) Issue of shares at discount. —————— V-225 -2-