Rajasthan Board Class 12 Question Paper 2020 Accountancy

 Roll No.

No. of Questions – 30
No. of Printed Pages – 16 SS-30-Accountancy

 (ACCOUNTANCY)
  , 2020
 3¼ 
 80

     

GENERAL INSTRUCTIONS TO THE EXAMINEES :

(1)    -     

Candidate must write first his / her Roll No. on the question paper compulsorily.

(2)     

All the questions are compulsory.

(3)       -    

Write the answer to each question in the given answer-book only.

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(4)      ,         

For questions having more than one part, the answers to those parts are to be written

together in continuity.

(5) -    
       //      

    

If there is any error / difference / contradiction in Hindi & English versions of the

question paper, the question of Hindi version should be treated valid.

(6) (i)  -      –    

(ii)  ‘’       

(iii)  ‘’    ,                

    

(i) This question paper contains two Sections – A and B.

(ii) Section ‘A’ is compulsory for all candidates.

(iii) Section ‘B’ has two portions. Every portion has a set of seven questions. Candidate

can attempt only a set of seven questions of any one portion.

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(7)      
 1-8 1
9-14 2
15-21 4
22-23 6
 24-25 1
26-27 2
28-29 4
30 6

24-25 1
26-27 2
28-29 4
30 6
Section Q. Nos. Marks per question
A 1-8 1
9-14 2
15-21 4
22-23 6
B 24-25 1
26-27 2
28-29 4
30 6
OR
24-25 1
26-27 2
28-29 4
30 6
(8)   22 (-)  30 (-)     
There are internal choices in Q. No. 22 (Section-A) and Q. No. 30 (Section-B).

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 – 
SECTION – A

1.       -         ?
Why does interest on partners loan is not shown in profit and loss appropriation account ? 1

2.                  ?
What will be the entry for reducing the provision for bad-debts at the time of admission
of a partner ? 1

3.     ,                
Write down the name of accounts in which general-reserve transfer at the time of
admission of a partner. 1

4. ,    1/2, 3/10  1/5        ,    
         
Som, Mangal and Yuvraj were partners sharing profit in the ratio of 1/2, 3/10 and 1/5.
Som retires from the firm. Calculate the gain ratio. 1

5.         ` 50,000          
` 40,000         

At the time of dissolution of a firm a creditor ` 50,000 is shown in the books is settled by
typewriter ` 40,000 is not shown in the books, write entry which is made it ? 1

6. -         /       
 
Write down the name of methods write-off discount/loss on issue of debentures by
statement of profit and loss ? 1

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7.             ?
In which rate, zero coupon rate debentures are issued ? 1

8.          
State the maximum number of ventures in joint venture. 1

9. ,    2 : 2 : 1               
     ` 40,000              
      
Pushpak, Pankaj and Ravi are partners in sharing profit in the ratio of 2 : 2 : 1. Ravi
retires from the firm. The profit on revaluation is ` 40,000. Amount of asset and
liabilities are not to be changed. Pass journal entries of profit on revaluation. 2

10.                   
        ` 1,50,000    ` 1,80,000        
       
Kamlesh and Kishan are co-ventures in an underwriting business. Each one keep record
of all the transactions in their books. Kishan sold the shares received from a company of
` 1,50,000 at ` 1,80,000. Give journal entries in the books of both the parties for sold
shares. 2

11.            
(i) 
(ii) 
Distinguish between consignment and sale on the basis of following points :
(i) Relation
(ii) Remuneration 2
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12.    ` 40,000     ` 60,000     ` 18,000    
        10          25 
         5          
` 15,000           
A consignee sold goods of invoice price of ` 40,000 at ` 60,000. Which includes credit
sales ` 18,000. The consignee is entitled to a commission of 10% on invoice price and
25% of the excess sale value over that. He also receives 5% del credere commission on
credit value sale. Only ` 15,000 were received from debtors. Prepare commission a/c in
the book of consignee ? 2

13. -              
Write the name of the books kept for the purpose of finding basic information in non-
trading concern. 2

14.    -      
  ` 8,00,000;   ` 6,50,000;   ` 1,00,000;    ` 1,20,000
Write the following items in income and expenditure account and in balance-sheet : 2
Building fund ` 8,00,000; Expenses on building ` 6,50,000; Environment fund
` 1,00,000; Expenses on environment ` 1,20,000.

15. ,    2 : 2 : 1    -        
 ` 3,00,000; ` 2,00,000  ` 1,00,000   31 , 2019       
  8      10      ()     
  ,      
Arpita, Archita and Sunita are partners in a firm sharing profit and losses in the ratio of
2 : 2 : 1. Their fixed capital were ` 3,00,000; s` 2,00,000 and ` 1,00,000 respectively. For
the year ended 31st March, 2019, interest on capital was credited to them @ 10% per
annum instead of 8% per annum. Showing your working note clearly, pass necessary
adjustment journal entry. 4

16. ,    4 : 3 : 2    -       1 , 2019 
                 
` 3,93,000; ` 3,96,000  ` 1,83,000       ` 5,60,000      
  -  5 : 3 ,            
  
Neha, Neeru and Shyamu were partners sharing profit and losses in the ratio of 4 : 3 : 2.
Neeru retired on 1st April, 2019. On the date their capitals after all such adjustments stood
at ` 3,93,000; ` 3,96,000; and ` 1,83,000. The entire capital of the firm as newly
constituted is fixed at ` 5,60,000. Their new profit sharing ratio of 5 : 3. Calculate actual
cash to be paid off and to be brought in by the remaining partners. 4
SS-30-Accountancy

7
17. , ,    4 : 3 : 2 : 1            
    ` 50,000 (); ` 40,000 (); ` 30,000 ()  ` 20,000 ()
  31 , 2019               ` 2,000
        ,         
Rohit, Siddharth, Yash and Yashraj are partners in a firm sharing profit in the ratio of
4 : 3 : 2 : 1. Their fixed capital balances were ` 50,000 (Cr.); ` 40,000 (Cr.); ` 30,000
(Dr.) and ` 20,000 (Dr.) respectively The firm dissolved on 31st March, 2019 due to
Yashraj become insolvent. Only ` 2,000 realised from Yashraj. Prepare partners’ capital
a/c, if Garner V/s. Murrey rules applies. 4

18.   , 2013  -III -II        ,
-    
Prepare a format of company’s statement of profit and loss with only main heading as per
the Indian Company Act, 2013 under Schedule III Part II. 4

19.     100    ` 1,000           
` 10,000   10           ` 8,000       
       ` 2,000   90    ` 1,500       
     ,     25       
Mahadev consigned 100 bales of cotton to Satyam at invoice price of ` 1,000 per bale.
Consignment expenses were ` 10,000. 10 bales stolen in transit and the insurance
company accepted the claim amount of ` 8,000. Satyam received the remaining bales and
paid cart hire ` 2,000. 90 bales were sold by Satyam @ 1,500 per bale. Prepare
consignment account at cost price, if goods consigned with cost plus 25% on profit. 4

20.              
(i)  (ii) 
(iii)  (iv) 
Write down the difference between joint venture and partnership on the basis of
following points : 4
(i) Objects (ii) Registration
(iii) Member (iv) Act

SS-30-Accountancy [ Turn over

8
21.    “  ”          
- 
` `

 28,000  (   
(+)  2,000 30,000    ) 24,000

 (10%    ) 4,000  36,000

- 12,000  (10%    ) 8,000

 22,000

68,000 68,000

    
   ` 22,000;   ` 8,000;   ` 2,000.
From the following information, calculate the opening capital fund of “Kiran Welfare
Club”. 4
Income and Expenditure Account
` `
To Salary 28,000 By Rent
(+) Outstanding 2,000 30,000 (including one month
To Depreciation advance of last year) 24,000
(@ 10% on Furniture) 4,000 By Subscription 36,000
To Advertisement Exp. 12,000 By Interest 8,000
To Surplus 22,000 (@ 10% on F.D.)
68,000 68,000
Opening balances were :
Opening Cash Balance ` 22,000; Outstanding Salary ` 8,000; Advance subscription
` 2,000.

SS-30-Accountancy

9
22.       7 : 3    -      31 , 2019 
     
 
 `  `
 60,000  36,000
- 10,000  46,000
   (–)    2,000 44,000
 50,000  50,000
 40,000 90,000  30,000
1,60,000 1,60,000
1 , 2019               
(i)     ` 30,000  ` 10,000   
(ii)    20           
(iii)      60      
(iv)  -  21 : 9 : 10  
(v)               
        

1-4-2019  ,     ,  2 : 2 : 1    -    
` 2,40,000          ,    ` 8,000 -
          31        1 , 2019   
           -        
    
(i)     10        
(ii)                 
(iii)                     
     
(iv) 1 , 2019     ` 3,60,000 ,         
` 22,000  
(v)     -  ` 60,000; ` 1,12,000; ` 20,000 ()  ` 1,36,000  
      
SS-30-Accountancy [ Turn over

10
Rohit and Rahul are partners in a firm sharing profits in the ratio of 7 : 3. Their balance
sheet as on 31st March, 2019 was as follow : 6
BALANCE SHEET
Liabilities ` Assets `
Creditor 60,000 Cash 36,000
General Reserve 10,000 Debtors 46,000
Capital Accounts : (–) PBD 2,000 44,000
Rohit – 50,000 Stock 50,000
Rahul – 40,000 90,000 Plant 30,000
1,60,000 1,60,000
On 1st April, 2019 they admitted Bhavesh as a new partner on the following terms :
(i) Bhavesh will bring ` 30,000 for his Capital and ` 10,000 for premium.
(ii) 20% General Reserve will be transferred to provision for bad-debt account.
(iii) Stock and Plant value reduced upto 60%.
(iv) New profit and losses ratio will be 21 : 9 : 10.
(v) The capital of old-partner are also to be adjusted according to new partner capital.
Prepare Revaluation account and partner’s capital accounts.
OR
On 1-4-2019 x, y and z are partners sharing profit and losses in the ratio of 2 : 2 : 1. They
had a joint life insurance policy of ` 2,40,000 and the annual premium of ` 8,000 has
been charged to Profit and Loss account every year. Account were closed on 31st March
annually. z died on 1st August, 2019. Besides his capital and insurance money z’s Legal
representatives are entitled to : 6
(i) Interest on Capital at 10% per annum upto the date of death.
(ii) Partner’s share in profit based on average profit of last four completed year.
(iii) Partner share in goodwill (premium), which is to be calculated at three years of
purchase of average profit of the last four years.
(iv) z’s Capital on 1st April, 2019 at ` 3,60,000 and his drawings from the date to the
death amounted to ` 22,000.
(v) Profit and Loss for last four years were ` 60,000; ` 1,12,000; ` 20,000 (loss) and
` 1,36,000 respectively.
Prepare Legal representative’s account of z.
SS-30-Accountancy

11
23.    ` 100   10,000   10        
   – ` 40   ( ),   ` 40    ` 30  9,500 
               300    ,  
          ,   200    ,    
           
Asha Ltd. issued 10,000 equity shares of ` 100 each at 10% premium, payable as follow : 6
` 40 on application (including premium), ` 40 on allotment and ` 30 on call. Application
were received for 9,500 shares and full allotment was made. Komal holding 300 shares
failed to paid allotment and call money. Another shareholder Raj holding 200 shares paid
call money with allotment in advance. Pass necessary journal entries.

 – 
SECTION – B

24.     ,    (-)    100       ?
Write down the name of item which is taken as 100 in common size statement of profit
and loss (income). 1

25.     ,    87.5   ?
What will be the operating profit ratio, if operating ratio is 87.5% ? 1

26. -         
What is trend-analysis and write down the name of its methods. 2

27.      4 : 1     ` 75,000       
    
Current ratio of a company is 4 : 1 and working capital is ` 75,000. Calculate the amount
of Current Assets and Current Liabilities. 2

28.   -   ?      
What is window-dressing in ethics ? Write down any three examples of it. 4

SS-30-Accountancy [ Turn over

12
29.             
       %

 2018 (`) 2019 (`) % 2018 % 2019
(A)    
   3,00,000 ………. 60.00 40.00

   ………. 1,95,000 ………. ……….

  ………. ………. 20.00 ……….

  5,00,000 6,50,000 100.00 100.00

(B)  
  2,00,000 ………. ………. 50.00

 ………. 2,60,000 30.00 ……….

  1,50,000 ………. ………. ……….

  ………. 6,50,000 ………. 100.00

Fill the blanks from the following information for common-size Balance Sheet : 4
Note Absolute Amounts % of Balance Sheet Total
Particulars
No. 2018 (`) 2019 (`) % for 2018 % for 2019
(A) Equities & Liabilities :
Equity Share Capital 3,00,000 ………. 60.00 40.00
Res. & Surplus ………. 1,95,000 ………. ……….
Current Liabilities ………. ………. 20.00 ……….
Total : 5,00,000 6,50,000 100.00 100.00
(B) Assets :
Fixed Assets 2,00,000 ………. ………. 50.00
Investment ………. 2,60,000 30.00 ……….
Current Assets 1,50,000 ………. ………. ……….
Total : ………. 6,50,000 ………. 100.00

SS-30-Accountancy

13
30.          
`
   40,00,000

  4,00,000

10%  16,00,000

  28,00,000

  16,00,000

  2,00,000

  4,00,000

  3,00,000

       20   
  ` 50,000
     
(i)   (ii)  
(iii)   (iv)   

(i)    “   ”  “- ”    
  (    ) ` 3,50,000
10   ` 5,00,000

  50%

  ` 40,00,000

(ii)            
  ` 12,00,000;     1/3;    5 ;  
   ` 24,000   
SS-30-Accountancy [ Turn over

14
Following are the information of Shree Sanwaliya Ltd : 6
`
Equity Share Capital 40,00,000
Capital Reserve 4,00,000
10% Debenture 16,00,000
Net Sales 28,00,000
Gross Profit 16,00,000
Selling Expenses 2,00,000
Current Assets 4,00,000
Current Liabilities 3,00,000
Closing Stock is 20% excess on Opening
Stock
Opening Stock 50,000
Calculate the following ratios :
(i) Liquidity ratio (ii) Proprietary ratio
(iii) Operating ratio (iv) Stock Turnover ratio
OR
(i) Calculate the Rate of Return on investments and “Debt-Equity ratio” from the
following information :
Net Profit (after interest and tax) ` 3,50,000
10% Debentures ` 5,00,000
Tax Rate 50%
Capital employed ` 40,00,000
(ii) Calculate the amount of opening and closing inventory (stock) from the following
information :
Total Sales ` 12,00,000; Gross Profit 1/3 of cost; Stock turnover ratio = 5 times;
Closing Stock is ` 24,000 excess over the Opening Stock.

SS-30-Accountancy

15
 - 
SECTION – B

24.             
Write the name of function used for calculation of straight depreciation method. 1

25.      
Define the work book. 1

26. ....      
Write any two disadvantages of DBMS. 2

27.  ()       
Write any four examples of input devices. 2

28. -        
Write any four applications of spread-sheet in accounting. 4

29.         
Explain the various steps of computerized accounting process. 4

30.      
(i)  (ii) 
(iii)   (iv)  

“  ,       ”         
(i)  (ii) 
(iii)  (iv) 
(v)  (vi)  
SS-30-Accountancy [ Turn over

16
Write short notes on following : 6
(i) MIS (ii) AIS
(iii) Accounting Report (iv) Exception Report
OR
“Computerized accounting system is better than Manual accounting system.” Explain it
with help of following points : 6
(i) Speed (ii) Cost
(iii) Back-up (iv) Security
(v) Classification (vi) Adjustment entry

___________

SS-30-Accountancy