Goa Board Class 12 Question Paper June 2018 Accontancy _New Syllabus_

2018 VI 08 1430 Seat No. :

Time : 2 Hours ACCOUNTANCY
(New Syllabus)

Subject Code

V 2 2 5

Total No. of Questions : 5 (Printed Pages : 3) Maximum Marks : 50

INSTRUCTIONS : i) Answer each question on a fresh page.
ii) Write the number of the 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]
When the depreciation is charged on fixed asset, the account to be credited
is ___________
• Bank Account
• Asset Account
• Profit and Loss Account
• Depreciation Account

B) Write the meaning of residual value of an asset. [1]

C) Explain any three causes of depreciation. [3]

D) Draw a neat proforma of Trading Account showing atleast five items on either
sides. [5]

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2. A) What is Partnership Deed ? [1]

B) Mention any two features of Partnership. [1]
C) Distinguish between Fixed Capital Method and Fluctuating Capital Method
(any three points of distinction) [3]
D) State and explain the circumstances leading to the dissolution of the
Partnership Firm. [5]
OR

Explain the legal provisions for dissolution of Partnership Firm.
3. A) Fill in the blanks by selecting appropriate word/s. [1]
Incase of admission, goodwill brought in by the new partner will be shared by
the old partners in ____________
• New ratio
• Old ratio
• Sacrifice ratio
• Gain ratio
B) What is sacrifice ratio ? [1]
C) The Profits and Losses during last five years of a Firm are as follows :
F.Y. Profits or Losses Amount (Rs.)
2016 – 2017 Profit 69,000
2015 – 2016 Profit 65,000
2014 – 2015 Loss 23,000
2013 – 2014 Profit 82,000
2012 – 2013 Profit 94,000
The capital investment of the firm is Rs. 2,50,000. The normal rate of return in
the market is 13%. Find the value of goodwill at two years purchase of super
profits on the basis of average profit of last five years profits and losses. [3]
D) State any ten features of ‘Receipts and Payments Account’. [5]
OR
State any ten features of ‘Income and Expenditure Account’.

V-225 -2-

4. A) What is meant by Retirement of a partner ? [1]

B) State any four reasons of admission of a new partner. [2]

C) Yusuf, Nigam and Aarfan were partners sharing Profits and Losses in the
ratio of 4 : 3 : 2 respectively. The profit for the year ended on 31/03/2017 was
Rs. 63,000. Aarfan died on 01/07/2017.
Calculate Aarfan’s share of profit till the date of his death based upon the
profit of the previous year. [2]

D) State and explain the mode of settlement of account of a retiring partner.
(any two points) [2]

E) Explain the terms Capital Expenditure and Revenue Expenditure with
examples. [3]

5. A) What is meant by a share ? [1]

B) Draw a neat proforma of Revaluation Account at the time of retirement. (showing
atleast two items on either sides) [2]

C) Explain the following : [2]
i) Paid up capital
ii) Reserve capital.

D) Write a short note on Financial Statements. [2]

E) Explain the following : [3]
i) Secured debentures.
ii) Redeemable debentures.
iii) Convertible debentures.
_____________

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