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[QUOTE=mariammal;186170][B]Document Described :[/B] Accountancy Question Paper, Jharkhand  Question Paper

[B]ACCOUNTANCY
(Compulsory)[/B]
[B]Full Marks  [/B]: 80
[B]Pass Marks  [/B]: 26
[B]Time  [/B]: 3 Hours
Candidates are required to give their answers in their own words as far as practicable.
Figures in the margin indicate ful marks.

[URL]http://jac.nic.in/model_questions.htm[/URL]
[URL]http://jac.nic.in/pdf/model_questions/Commerce_Accountancy12_08.pdf[/URL]

[B]General Instructions  [/B]:
(i) This question paper contains three Parts A, B and C.
(i) Part A is compulsory for al candidates.
(ii) Candidates can attempt only One Part of the remaining Part ?B? and C.
(iv) Al parts of questions should be attempted at one place.

[B]Part  [/B]: A
1. What  do  you  mean  by  Fixed  Capital  andFluctuating Capital ? 4
2. Why is P/L Appropriation A/c prepared by a partnership firm ? 2
3. What is goodwil ? Name any four methods of calculating goodwil. 4
4. The average profit of a firm is Rs. 50,000. 
Its assets and outside liabilities are Rs. 5,00,000 and  Rs.  2,00,000  respectively.  The  normal rate  of  return  is  10%.  Find  the  value  of goodwil if it is based on 2 year?s purchase of super-profit. 5
5. What is sacrifice ratio ? 2
6. How  is  goodwill  calculated  under  capitali- sation of super-profit method ? 3
7. A, B, C and D are partners sharing profit in the ratio of 1: 2 : 1 : 2 respectively. C retires and A, B and D decide to share future profitequaly. Find gaining ratio. 3
8. What is Realisation A/c ? 2
9. 1000  shares  of  Rs.  10  each  are  issued  to promoters for their services at a premium of Rs. 4 per share. Give Journal Entries. 2
10. What is the difference between Shares and Debentures ? 3
11. A and B are equal partners. Their Balance Sheet  as  on  31st  December,  2007  is  asfolows:
Creditors 20,000 Cash 5,000
Reserve 10,000 Sundry Debtors 20,000
Capital: Stock 15,000
A 25,000 Furniture 10,000
B 20,000 45,000  
Land/Building 25,000
75,000 75,000
C is admitted into firm for 1/4 share in future profit on the folowing terms:
(a) C brings Rs. 20,000 as capital but he is unable  to  bring  his  share  of  goodwill Rs.  4,000  in  cash.  No  goodwill  A/c  is raised.
(b) Furniture is depreciated by 10% and 5% reserve for bad debt is created. 
(c) Land and building is appreciated by 20%. Prepare Revaluation A/c, Partners? Capital A/c and  the  opening  Balance  Sheet  after admission of C. 10
12. A, B and C are partners sharing profit in the ratio  of  2:  2  :  1  respectively.  On  31st December, 2007, their Balance Sheet is as folows :
A 50,000 Stock 40,000
B 40,000
C 30,000 Furniture 10,000
1,20,000
Other  fixed
Assets 60,000
1,50,000 1,50,000
The firm is dissolved on this date. A takes furniture  at  Rs.  6,000.  Debtors  realise Rs. 25,000, Stock Rs. 35,000 and other fixed assets  Rs.  50,000.  Creditors  are  paid Rs. 26,000 in ful satisfaction. An unrecorded investment  of  Rs.  2,000  is  taken  by  B. Expenses of realisation amount to Rs. 1,000. Prepare Realisation A/c, Partners? Capital A/c and Cash A/c. 10
13. (a) X  Ltd.  purchased  a  building  for Rs. 3,60,000 and issued shares of Rs. 10 each  fully  paid  for  it  (a)  at  par,  (b)  at 20% premium and (c) at 10% discount. Pass Journal Entries. 6 X   
(b) X Ltd. forfeited 1000 shares of Rs. 10 due to non-payment of final cal of Rs. 4 each. Out of these only 600 shares are
reissued  at  Rs.  7  each  as  fully  paid. Give  Journal  Entries  for  forfeiture  and reissue. 4

[B]Part - B  [/B]:
14. Under  what  headings  will  you  show  the folowing in the Balance Sheet of a Company ? 4
(a) Livestock  
(b) Bils Receivable  
(c) Underwriting commission 
(d) Proposed dividend  
15. Name  any  four  techniques  of  analysis  of Financial Statements. 2
16. Find interest coverage ratio: 4
Net profit after interest and tax Rs. 40,000
Rate of Income Tax 40%
10% Mortgage loan Rs. 1,00,000
10% Debenture Rs. 1,00,000
17. Give two examples of each of sources and applications of Fund. 2
18. You have the folowing Balance Sheet of X for
2006 and 2007:
Liabilities 2006 2007 Assets 2006 2007
Sundry Creditors 20,000 30,000 Cash 5,000 8,000
Outstanding Sundry Debtors 20,000 25,000
Expenses 10,000 6,000 
Bank Loan 40,000 44,00
Furniture 10,000 20,000
Capital 70,000 90,000
Land and
Building 50,000 70,000
Goodwil 10,000 7,000
1,40,000 1,70,000 1,40,000 1,70,000
Mr.  X  has  withdrawn  Rs.  10,000  for  his personal use in 2007. During 2007, a part of Land Costing Rs. 20,000 has been sold for
Rs.  35,000.  Income  tax  paid  in  2007 amounted to Rs. 8,000. Prepare Cash Flow Statement. 8
19. Explain with one example DML or DCL.  
20. Explain  the  concept  of  relationship  degree. How  is  it  different  from  relationship  type  ? Give an example of each. 6
21. An example of Multi-group Ledger could be the assets which could be further divided as Fixed  assets  and  Current  assets.  Each  of these  could  be  further  divided  into  various types.  Likewise  give  an  example  of  Single group Ledger. 6
22. Develop and depict ER Model for accounting reality. 2
23. Accounting reality is to be drawn which shows the  tables  containing  data  depending  upon how the tables are drawn. Queries are to be created to get informations about : 1+1+1+1=4
(a) Name of the account
(b) Whether debit or credit
(c) Amount in the account
(d) The total of the side of debit or credit.[/QUOTE]

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