{"id":172579,"date":"2022-03-11T15:18:57","date_gmt":"2022-03-11T09:48:57","guid":{"rendered":"https:\/\/www.cbselabs.com\/?p=172579"},"modified":"2022-03-11T15:18:57","modified_gmt":"2022-03-11T09:48:57","slug":"cbse-sample-papers-for-class-12-accountancy-term-2-set-4","status":"publish","type":"post","link":"https:\/\/www.cbselabs.com\/cbse-sample-papers-for-class-12-accountancy-term-2-set-4\/","title":{"rendered":"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions"},"content":{"rendered":"<p>Students can access the\u00a0<a href=\"https:\/\/www.cbselabs.com\/cbse-sample-papers-for-class-12-accountancy\/\">CBSE Sample Papers for Class 12 Accountancy<\/a> with Solutions and marking scheme Term 2 Set 4 will help students in understanding the difficulty level of the exam.<\/p>\n<h2>CBSE Sample Papers for Class 12 Accountancy Standard Term 2 Set 4 with Solutions<\/h2>\n<p>Time Allowed: 2 Hours<br \/>\nMaximum Marks: 40<\/p>\n<p><span style=\"color: #0000ff;\">General Instructions<\/span><\/p>\n<ul>\n<li>This question paper comprises two Parts A and B. There are 12 questions in the question paper. All questions are compulsory.<\/li>\n<li>Question nos. 1 to 3 and 10 are Short Answer Type I Questions carrying 2 marks each.<\/li>\n<li>Question nos. 4 to 6 and 11 are Short Answer Type II Questions carrying 3 marks each.<\/li>\n<li>Question nos. 7 to 9 and 12 are Long Answer Type Questions earning 5 marks each.<\/li>\n<li>There is no overall choice. However, an internal choice has been provided in 3 questions of three marks and 1 question of five marks.<\/li>\n<\/ul>\n<p>Maximum Marks : 40<br \/>\nTime : 2 Hours<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\">Part A<\/span><br \/>\n<span style=\"color: #0000ff;\">(Accounting for Not-for-Profit Organisations, Partnership Firms and Companies)<\/span><\/p>\n<p><span style=\"color: #0000ff;\">Short Answer (SA) Type I Questions (2 Marks)<br \/>\n<\/span>Question 1.<br \/>\nFrom the following information of a club, show the amounts of match expenses and match fund in the financial statements of the club for the year ended on 31st March, 2021.<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172601\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-1.png?resize=654%2C119&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 1\" width=\"654\" height=\"119\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-1.png?w=654&amp;ssl=1 654w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-1.png?resize=300%2C55&amp;ssl=1 300w\" sizes=\"(max-width: 654px) 100vw, 654px\" data-recalc-dims=\"1\" \/><br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172602\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-2.png?resize=679%2C224&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 2\" width=\"679\" height=\"224\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-2.png?w=679&amp;ssl=1 679w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-2.png?resize=300%2C99&amp;ssl=1 300w\" sizes=\"(max-width: 679px) 100vw, 679px\" data-recalc-dims=\"1\" \/><br \/>\nNote Expenses on account of match exceed the balance in match fund by ? 1,000. This amount will be debited to income and expenditure account.<\/p>\n<p>Question 2.<br \/>\nWhy a retiring partner is entitled to a share of goodwill of the firm?<br \/>\nAnswer:<br \/>\nWhen an existing partner of a firm decides to retire from the firm, the remaining partner(s) will gain in future profits. The remaining partner who gains by acquiring an additional right to share future profits must compensate the outgoing partner who sacrifices by foregoing his right to share future profits. The amount of compensation must be equal to the proportionate value of firm&#8217;s goodwill.<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Question 3.<br \/>\nKanu, Sunny and Richa are partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. As per the terms of partnership deed, on the death of any partner, goodwill was to be valued at 3 years&#8217; purchase of average profits of last 5 years which were 2016 &#8211; \u20b9 40,000, 2017 &#8211; \u20b9 40,000, 2018 &#8211; \u20b9 30,000, 2019 &#8211; \u20b9 40,000 and 2020 &#8211; \u20b9 50,000. Kanu died on 29th May, 2020 and the new profit sharing ratio decided between Sunny and Richa is 1 : 1. Pass necessary journal entry to adjust Kanu&#8217;s share of goodwill and show your workings clearly.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172603\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-3.png?resize=685%2C178&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 3\" width=\"685\" height=\"178\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-3.png?w=685&amp;ssl=1 685w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-3.png?resize=300%2C78&amp;ssl=1 300w\" sizes=\"(max-width: 685px) 100vw, 685px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Notes<br \/>\n1. Calculation of Gaining Ratio<br \/>\nGaining Ratio = New Share &#8211; Old Share<br \/>\nSunny = \\(\\frac{1}{2}-\\frac{3}{8}=\\frac{4-3}{8}=\\frac{1}{8}\\) ; Richa = \\(\\frac{1}{2}-\\frac{1}{8}=\\frac{4-1}{8}=\\frac{3}{8}\\); Gaining Ratio = 1 : 3<\/p>\n<p>2. Calculation of Goodwill<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172604\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-4.png?resize=704%2C50&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 4\" width=\"704\" height=\"50\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-4.png?w=704&amp;ssl=1 704w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-4.png?resize=300%2C21&amp;ssl=1 300w\" sizes=\"(max-width: 704px) 100vw, 704px\" data-recalc-dims=\"1\" \/><br \/>\nGoodwill = Average Profit \u00d7 Number of Year&#8217;s Purchase = 40,000 \u00d7 3 = \u20b9 1,20,000<br \/>\nKanu&#8217;s share of goodwill = 1,20,000 \u00d7 \\(\\frac{4}{8}\\) = \u20b9 60,000<br \/>\n\u20b9 60,000 will be contributed by Sunny and Richa in their gaining Ratio i.e., 1 : 3.<\/p>\n<p><span style=\"color: #0000ff;\">Short Answer (SA) Type II Questions (3 Marks)<\/span><br \/>\nQuestion 4.<br \/>\nA company purchased an asset of the book value of \u20b9 11,000. Purchase consideration was paid by issuing 12% debentures of ? 100 each. Give journal entries assuming that debenture:: have been issued at (i) par (ii) premium of 10%.<br \/>\nOr<br \/>\nPass the necessary journal entries for the following<br \/>\n(i) Goel Ltd. invited applications for issuing 6,000,12% debentures of \u20b9 100 each at a premium of \u20b9 50 per debenture. The full amount was payable on application. Application were received for 8,000 debentures.<br \/>\nApplications of 2,000 debentures were rejected and application money was refunded. Debentures were allotted to the remaining applicants.<br \/>\n(ii) Goel Ltd issued 2,000,10% debentures of \u20b9 100 each at 10% premium which are redeemable at par.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172605\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-5.png?resize=710%2C224&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 5\" width=\"710\" height=\"224\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-5.png?w=710&amp;ssl=1 710w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-5.png?resize=300%2C95&amp;ssl=1 300w\" sizes=\"(max-width: 710px) 100vw, 710px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172606\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-6.png?resize=706%2C155&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 6\" width=\"706\" height=\"155\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-6.png?w=706&amp;ssl=1 706w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-6.png?resize=300%2C66&amp;ssl=1 300w\" sizes=\"(max-width: 706px) 100vw, 706px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Note<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Number of Debentures Issued = \\(\\frac{11,000}{100+10}\\) = 100 Debentures<br \/>\nOr<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172607\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-7.png?resize=717%2C529&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 7\" width=\"717\" height=\"529\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-7.png?w=717&amp;ssl=1 717w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-7.png?resize=300%2C221&amp;ssl=1 300w\" sizes=\"(max-width: 717px) 100vw, 717px\" data-recalc-dims=\"1\" \/><\/p>\n<p>Question 5.<br \/>\nKrishna and Priyansh are partners sharing profits in the ratio of 1 : 1. They decided to dissolve their firm. Pass necessary journal entries for the following transactions<br \/>\n(i) Workmen compensation reserve stood at \u20b9 6,000 and liability in respect of it was ascertained at \u20b9 7,500.<br \/>\n(ii) Realisation expenses amounted to \u20b9 15,000 were paid by the firm on behalf of a partner, Krishna.<br \/>\n(iii) There was an unrecorded furniture of \u20b9 6,000 which was taken over by Krishna at \u20b9 5,000.<br \/>\nOr<br \/>\nA, B and C are partners. They share profits in capital ratio. Their balance sheet is given below<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172608\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-8.png?resize=703%2C308&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 8\" width=\"703\" height=\"308\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-8.png?w=703&amp;ssl=1 703w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-8.png?resize=300%2C131&amp;ssl=1 300w\" sizes=\"(max-width: 703px) 100vw, 703px\" data-recalc-dims=\"1\" \/><\/p>\n<p>Additional Information<br \/>\n(i) B takes retirement.<br \/>\n(ii) New ratio of A and C is 1 : 1.<br \/>\n(iii) Goodwill of the firm \u20b9 1,20,000.<br \/>\n(iv) Make 5% provision for debtors.<br \/>\n(v) Building increased by 10%.<br \/>\n(vi) Make provision for claim for damages of \u20b9 12,000.<br \/>\n(vii) \u20b9 20,000 paid to B in cash. Balance transferred to his loan account.<br \/>\nPrepare revaluation account.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172610\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-9.png?resize=712%2C280&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 9\" width=\"712\" height=\"280\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-9.png?w=712&amp;ssl=1 712w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-9.png?resize=300%2C118&amp;ssl=1 300w\" sizes=\"(max-width: 712px) 100vw, 712px\" data-recalc-dims=\"1\" \/><br \/>\nOr<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172611\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-10.png?resize=702%2C258&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 10\" width=\"702\" height=\"258\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-10.png?w=702&amp;ssl=1 702w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-10.png?resize=300%2C110&amp;ssl=1 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Question 6.<br \/>\nThe following is the receipts and payments account of Queen&#8217;s Club for the year ended 31st March, 2020<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172612\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-11.png?resize=704%2C160&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 11\" width=\"704\" height=\"160\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-11.png?w=704&amp;ssl=1 704w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-11.png?resize=300%2C68&amp;ssl=1 300w\" sizes=\"(max-width: 704px) 100vw, 704px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172613\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-12.png?resize=702%2C219&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 12\" width=\"702\" height=\"219\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-12.png?w=702&amp;ssl=1 702w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-12.png?resize=300%2C94&amp;ssl=1 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" data-recalc-dims=\"1\" \/><br \/>\nThe following additional information is provided<br \/>\n(i) Subscription include \u20b9 22,000 for 2018-19 and \u20b9 8,000 for 2020-21.<br \/>\n(ii) Stock of stationery on 31st March, 2019 and 2020 was \u20b9 4,200 and \u20b9 6,400 respectively.<br \/>\n(iii) Stock of sports material at the beginning and end of the year were \u20b9 18,000 and \u20b9 31,000 respectively.<br \/>\n(iv) Rent includes \u20b9 4,000 paid for March, 2019, rent for March, 2020 is outstanding.<br \/>\n(v) Telephone expenses include \u20b9 3,000 as quarterly expenses upto 31st May, 2020.<br \/>\n(vi) The value of building as on 31st March, 2019 was \u20b9 8,00,000 and you are required to write-off depreciation @ 5%.<br \/>\n(vii) The value of investments on 31st March, 2019 was \u20b9 10,00,000 and the club made similar additional investment during the year on 1st October, 2019.<\/p>\n<p>You are required to prepare income and expenditure account of the club for the year ended 31st March, 2020.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172614\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-13.png?resize=754%2C657&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 13\" width=\"754\" height=\"657\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-13.png?w=754&amp;ssl=1 754w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-13.png?resize=300%2C261&amp;ssl=1 300w\" sizes=\"(max-width: 754px) 100vw, 754px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Working Note<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172615\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-14.png?resize=599%2C208&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 14\" width=\"599\" height=\"208\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-14.png?w=599&amp;ssl=1 599w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-14.png?resize=300%2C104&amp;ssl=1 300w\" sizes=\"(max-width: 599px) 100vw, 599px\" data-recalc-dims=\"1\" \/><\/p>\n<p><span style=\"color: #0000ff;\">Long Answer (LA) Type Questions (5 Marks)<\/span><br \/>\nQuestion 7.<br \/>\nX and Y were partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2020, the balance sheet of the firm was as follows<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172617\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-15.png?resize=707%2C243&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 15\" width=\"707\" height=\"243\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-15.png?w=707&amp;ssl=1 707w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-15.png?resize=300%2C103&amp;ssl=1 300w\" sizes=\"(max-width: 707px) 100vw, 707px\" data-recalc-dims=\"1\" \/><br \/>\nThe firm was dissolved on 1st April, 2020 and the assets and liabilities were settled as follows<br \/>\n(i) Building was taken over by creditors as their full and final payment.<br \/>\n(ii) Furniture was taken over by Y for cash payment at 5% less than the book value.<br \/>\n(iii) Debtors were collected by a debt collection agency at a cost of \u20b9 5,000.<br \/>\n(iv) Stock realised \u20b9 70,500.<br \/>\n(v) Y agreed to bear all realisation expenses. For this service, Y is paid \u20b9 500. Actual expense of realisation amounted to \u20b9 1,000.<br \/>\nPass necessary journal entries for dissolution of the firm.<br \/>\nOr<br \/>\nA, B and C were partners in a firm sharing profit and loss in the ratio of 4 : 3 : 3. On 31st March, 2021, their balance sheet was as follows<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172618\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-16.png?resize=689%2C307&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 16\" width=\"689\" height=\"307\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-16.png?w=689&amp;ssl=1 689w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-16.png?resize=300%2C134&amp;ssl=1 300w\" sizes=\"(max-width: 689px) 100vw, 689px\" data-recalc-dims=\"1\" \/><br \/>\nOn the above date, A retired and it was agreed that<br \/>\n(i) Debtors of \u20b9 4,000 will be written-off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained.<br \/>\n(ii) An unrecorded creditor of \u20b9 20,000 will be recorded.<br \/>\n(iii) Patents will be completely written-off and 5% depreciation will be charged on stock, machinery and building.<br \/>\n(iv) B and C will share the future profit in the ratio of 3 : 2.<br \/>\n(v) Goodwill of the firm on A&#8217;s retirement was valued at \u20b9 5,40,000.<br \/>\nPass necessary journal entries for the above transactions in the books of the firm on A&#8217;s retirement.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172619\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-17.png?resize=705%2C719&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 17\" width=\"705\" height=\"719\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-17.png?w=705&amp;ssl=1 705w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-17.png?resize=294%2C300&amp;ssl=1 294w\" sizes=\"(max-width: 705px) 100vw, 705px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Working Notes<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172620\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-18.png?resize=714%2C504&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 18\" width=\"714\" height=\"504\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-18.png?w=714&amp;ssl=1 714w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-18.png?resize=300%2C212&amp;ssl=1 300w\" sizes=\"(max-width: 714px) 100vw, 714px\" data-recalc-dims=\"1\" \/><br \/>\nOr<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172621\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-19.png?resize=705%2C459&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 19\" width=\"705\" height=\"459\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-19.png?w=705&amp;ssl=1 705w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-19.png?resize=300%2C195&amp;ssl=1 300w\" sizes=\"(max-width: 705px) 100vw, 705px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172622\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-20.png?resize=704%2C549&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 20\" width=\"704\" height=\"549\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-20.png?w=704&amp;ssl=1 704w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-20.png?resize=300%2C234&amp;ssl=1 300w\" sizes=\"(max-width: 704px) 100vw, 704px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Notes<br \/>\n1. Calculation of Gaining Ratio<br \/>\nGaining Ratio = New Share &#8211; Old Share<br \/>\nB = \\(\\frac{3}{5}-\\frac{3}{10}=\\frac{6-3}{10}=\\frac{3}{10}\\)<br \/>\nC = \\(\\frac{2}{5}-\\frac{3}{10}=\\frac{4-3}{10}=\\frac{1}{10}\\)<br \/>\nGaining Ratio = 3 : 1<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172623\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-21.png?resize=640%2C211&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 21\" width=\"640\" height=\"211\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-21.png?w=640&amp;ssl=1 640w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-21.png?resize=300%2C99&amp;ssl=1 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" data-recalc-dims=\"1\" \/><br \/>\n3. Calculation of Sameer&#8217;s Share of Goodwill Firm&#8217;s goodwill = \u20b9 5,40,000; A&#8217;s share = 5,40,000 \u00d7 \\(\\frac{4}{10}\\) 2,16,000<br \/>\nTo be contributed by B and C in their gaining ratio i.e., 3 : 1.<\/p>\n<p>4. Loss on Revaluation<br \/>\nIt can be ascertained by preparing revaluation account in the following manner<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172624\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-22.png?resize=671%2C275&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 22\" width=\"671\" height=\"275\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-22.png?w=671&amp;ssl=1 671w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-22.png?resize=300%2C123&amp;ssl=1 300w\" sizes=\"(max-width: 671px) 100vw, 671px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Question 8.<br \/>\nEntertainment Tennis Club presented the following receipts and payments account for the year ended 31 March, 2020.<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172625\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-23.png?resize=703%2C261&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 23\" width=\"703\" height=\"261\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-23.png?w=703&amp;ssl=1 703w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-23.png?resize=300%2C111&amp;ssl=1 300w\" sizes=\"(max-width: 703px) 100vw, 703px\" data-recalc-dims=\"1\" \/><br \/>\nAdditional Information<\/p>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"198\"><\/td>\n<td style=\"text-align: center;\" width=\"126\">1st April, 2019 (\u20b9)<\/td>\n<td style=\"text-align: center;\" width=\"144\">31st March, 2020 (\u20b9)<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Tennis Balls on Hand (at cost)<\/td>\n<td width=\"126\">1,600<\/td>\n<td width=\"144\">3,600<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Creditors for Refreshments<\/td>\n<td width=\"126\">16,000<\/td>\n<td width=\"144\">12,000<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Subscriptions Outstanding<\/td>\n<td width=\"126\">8,000<\/td>\n<td width=\"144\">14,000<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Club Courts<\/td>\n<td width=\"126\">2,40,000<\/td>\n<td width=\"144\">&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Prepare an income and expenditure account for the year ended 31st March, 2020 and show the balance sheet as on that date. Also prepare the relevant accounts for computation of various items.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172626\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-24.png?resize=706%2C571&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 24\" width=\"706\" height=\"571\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-24.png?w=706&amp;ssl=1 706w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-24.png?resize=300%2C243&amp;ssl=1 300w\" sizes=\"(max-width: 706px) 100vw, 706px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Notes<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172627\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-25.png?resize=718%2C196&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 25\" width=\"718\" height=\"196\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-25.png?w=718&amp;ssl=1 718w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-25.png?resize=300%2C82&amp;ssl=1 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172631\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-26.png?resize=721%2C540&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 26\" width=\"721\" height=\"540\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-26.png?w=721&amp;ssl=1 721w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-26.png?resize=300%2C225&amp;ssl=1 300w\" sizes=\"(max-width: 721px) 100vw, 721px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Question 9.<br \/>\nPass the journal entires in following cases<br \/>\n(i) Laxmi Ltd. purchased the assets of Shri Ram Ltd. for \u20b9 5,00,000, payable \u20b9 1,00,000 in cash and the balance by issue of 7% debentures of \u20b9 100.<br \/>\n(ii) PQR Ltd. took over assets of \u20b9 5,00,000 and liabilities of \u20b9 60,000 of XYZ company for the purchase consideration of \u20b9 6,60,000. PQR Company Ltd. paid the purchase consideration by issuing debentures of \u20b9 100 each at 10% premium.<br \/>\n(iii) Ashima Ltd purchased furniture from Disha Ltd and paid to Disha Ltd as follows<br \/>\n(a) By issuing 20,000,10% debentures of \u20b9 100 each at premium of 10%.<br \/>\n(b) Balance by accepting a bill of exchange of \u20b9 40,000 payable after one month.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172632\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-27.png?resize=686%2C266&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 27\" width=\"686\" height=\"266\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-27.png?w=686&amp;ssl=1 686w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-27.png?resize=300%2C116&amp;ssl=1 300w\" sizes=\"(max-width: 686px) 100vw, 686px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Note<br \/>\nNumber or Shares Issued = \\(\\frac{\\text { Amount Due }}{\\text { Issue Price }}=\\frac{4,00,000}{100}\\) = 4,000 Debentures<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172633\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-28.png?resize=684%2C271&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 28\" width=\"684\" height=\"271\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-28.png?w=684&amp;ssl=1 684w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-28.png?resize=300%2C119&amp;ssl=1 300w\" sizes=\"(max-width: 684px) 100vw, 684px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172634\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-29.png?resize=671%2C147&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 29\" width=\"671\" height=\"147\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-29.png?w=671&amp;ssl=1 671w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-29.png?resize=300%2C66&amp;ssl=1 300w\" sizes=\"(max-width: 671px) 100vw, 671px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Note<br \/>\nNumber of Debentures = \\(\\frac{6,60,000}{110}\\) = 6,000 Debentures<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172635\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-30.png?resize=718%2C275&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 30\" width=\"718\" height=\"275\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-30.png?w=718&amp;ssl=1 718w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-30.png?resize=300%2C115&amp;ssl=1 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Note<br \/>\nPurchase Consideration = 20,000 \u00d7 110 + 40,000 = \u20b9 22,40,000<\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\">Part B<\/span><br \/>\n<span style=\"color: #0000ff;\">(Analysis of Financial Statements)<\/span><\/p>\n<p><span style=\"color: #0000ff;\">Short Answer (SA) Type I Question (2 Marks)<\/span><br \/>\nQuestion 10.<br \/>\nState whether the following will result in inflow, outflow or no flow of cash.<br \/>\n(i) Old vehicle written-off.<br \/>\n(ii) Bills receivable endorsed to creditors.<br \/>\nAnswer:<br \/>\n(i) No flow of cash. Writing-off old vehicle implies charging depreciation in the profit and loss<br \/>\naccount. Here, no cash is involved as depreciation is a non-cash expense.<br \/>\n(ii) Bills receivable endorsed to creditors indicates neither an inflow or an outflow of cash. In this transaction, only current liabilities and current assets balance gets reduced in the balance sheet. Thus, cash balance remain unaffected.<\/p>\n<p><span style=\"color: #0000ff;\">Short Answer (SA) Type II Question (3 Marks)<\/span><br \/>\nQuestion 11.<br \/>\nPrepare comparative statement of profit and loss from the following information<\/p>\n<table border=\"2\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" width=\"252\">Particulars<\/td>\n<td style=\"text-align: center;\" width=\"222\">31st March, 2021 (\u20b9)<\/td>\n<td style=\"text-align: center;\" width=\"192\">31st March, 2020 (\u20b9)<\/td>\n<\/tr>\n<tr>\n<td width=\"252\">Revenue from Operations<\/td>\n<td width=\"222\">20,00,000<\/td>\n<td width=\"192\">16,00,000<\/td>\n<\/tr>\n<tr>\n<td width=\"252\">Purchase of Stock-in-trade<\/td>\n<td width=\"222\">8,80,000<\/td>\n<td width=\"192\">6,20,000<\/td>\n<\/tr>\n<tr>\n<td width=\"252\">Change in Inventories of Stock-in-trade<\/td>\n<td width=\"222\">50,000<\/td>\n<td width=\"192\">90,000<\/td>\n<\/tr>\n<tr>\n<td width=\"252\">Other Expenses<\/td>\n<td width=\"222\">10% of cost of Revenue from Operations<\/td>\n<td width=\"192\">8% of Cost of Revenue from Operations<\/td>\n<\/tr>\n<tr>\n<td width=\"252\">Tax Rate<\/td>\n<td width=\"222\">30%<\/td>\n<td width=\"192\">46%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>8% of Cost of Revenue from Operations<br \/>\n46%<br \/>\nOr<br \/>\nFollowing are the balance sheets of Arihant Tiles Ltd. as at 31st March, 2019 and 31st March, 2020<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172636\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-31.png?resize=662%2C316&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 30\" width=\"662\" height=\"316\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-31.png?w=662&amp;ssl=1 662w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-31.png?resize=300%2C143&amp;ssl=1 300w\" sizes=\"(max-width: 662px) 100vw, 662px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172637\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-32.png?resize=659%2C316&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 32\" width=\"659\" height=\"316\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-32.png?w=659&amp;ssl=1 659w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-32.png?resize=300%2C144&amp;ssl=1 300w\" sizes=\"(max-width: 659px) 100vw, 659px\" data-recalc-dims=\"1\" \/><br \/>\nNotes to Accounts<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172638\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-33.png?resize=702%2C244&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 33\" width=\"702\" height=\"244\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-33.png?w=702&amp;ssl=1 702w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-33.png?resize=300%2C104&amp;ssl=1 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Additional Information<br \/>\nDuring the year, a piece of machinery costing \u20b9 18,000 on which accumulated depreciation was \u20b9 12,000, was sold for \u20b9 4,500. Prepare cash flow from investing activity.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172641\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-34.png?resize=722%2C386&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 34\" width=\"722\" height=\"386\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-34.png?w=722&amp;ssl=1 722w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-34.png?resize=300%2C160&amp;ssl=1 300w\" sizes=\"(max-width: 722px) 100vw, 722px\" data-recalc-dims=\"1\" \/><br \/>\nWorking Note<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172642\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-35.png?resize=612%2C231&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 35\" width=\"612\" height=\"231\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-35.png?w=612&amp;ssl=1 612w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-35.png?resize=300%2C113&amp;ssl=1 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" data-recalc-dims=\"1\" \/><br \/>\nOr<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172643\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-36.png?resize=706%2C412&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 36\" width=\"706\" height=\"412\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-36.png?w=706&amp;ssl=1 706w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-36.png?resize=300%2C175&amp;ssl=1 300w\" sizes=\"(max-width: 706px) 100vw, 706px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p><span style=\"color: #0000ff;\">Long Answer (LA) Type Question (5 Marks)<\/span><br \/>\nQuestion 12.<br \/>\nFrom the following balance sheets of Karunesh Ltd. as on 31st March, 2019 and 2020, . prepare a cash flow statement.<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172644\" src=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-37.png?resize=699%2C365&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 37\" width=\"699\" height=\"365\" srcset=\"https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-37.png?w=699&amp;ssl=1 699w, https:\/\/i2.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-37.png?resize=300%2C157&amp;ssl=1 300w\" sizes=\"(max-width: 699px) 100vw, 699px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172645\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-38.png?resize=699%2C316&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 38\" width=\"699\" height=\"316\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-38.png?w=699&amp;ssl=1 699w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-38.png?resize=300%2C136&amp;ssl=1 300w\" sizes=\"(max-width: 699px) 100vw, 699px\" data-recalc-dims=\"1\" \/><br \/>\nNotes to Accounts<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172646\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-39.png?resize=697%2C603&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 39\" width=\"697\" height=\"603\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-39.png?w=697&amp;ssl=1 697w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-39.png?resize=300%2C260&amp;ssl=1 300w\" sizes=\"(max-width: 697px) 100vw, 697px\" data-recalc-dims=\"1\" \/><br \/>\nAdditional Information<br \/>\n(i) Depreciation charged on building \u20b9 20,000 and plant \u20b9 10,000.<br \/>\n(ii) Interest paid on debentures \u20b9 14,400. New debentures of \u20b9 36,000 were issued on 1st October, 2019.<br \/>\n(iii) Interest paid on deposits from public \u20b9 19,200 for the year.<br \/>\nAnswer:<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172647\" src=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-40.png?resize=668%2C407&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 40\" width=\"668\" height=\"407\" srcset=\"https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-40.png?w=668&amp;ssl=1 668w, https:\/\/i1.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-40.png?resize=300%2C183&amp;ssl=1 300w\" sizes=\"(max-width: 668px) 100vw, 668px\" data-recalc-dims=\"1\" \/><br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172648\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-41.png?resize=667%2C550&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 41\" width=\"667\" height=\"550\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-41.png?w=667&amp;ssl=1 667w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-41.png?resize=300%2C247&amp;ssl=1 300w\" sizes=\"(max-width: 667px) 100vw, 667px\" data-recalc-dims=\"1\" \/><\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ncertmcq.com\/wp-content\/uploads\/2022\/03\/CBSE-Labs-1.png?resize=110%2C13&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" width=\"110\" height=\"13\" data-recalc-dims=\"1\" \/><\/p>\n<p>Working Notes<br \/>\n<img loading=\"lazy\" class=\"alignnone size-full wp-image-172649\" src=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-42.png?resize=695%2C366&#038;ssl=1\" alt=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions 42\" width=\"695\" height=\"366\" srcset=\"https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-42.png?w=695&amp;ssl=1 695w, https:\/\/i0.wp.com\/www.cbselabs.com\/wp-content\/uploads\/2022\/03\/CBSE-Sample-Papers-for-Class-12-Accountancy-Term-2-Set-4-with-Solutions-42.png?resize=300%2C158&amp;ssl=1 300w\" sizes=\"(max-width: 695px) 100vw, 695px\" data-recalc-dims=\"1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Students can access the\u00a0CBSE Sample Papers for Class 12 Accountancy with Solutions and marking scheme Term 2 Set 4 will help students in understanding the difficulty level of the exam. CBSE Sample Papers for Class 12 Accountancy Standard Term 2 Set 4 with Solutions Time Allowed: 2 Hours Maximum Marks: 40 General Instructions This question &hellip;<\/p>\n","protected":false},"author":29,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[84914],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.2 (Yoast SEO v17.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions - CBSE Labs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cbselabs.com\/cbse-sample-papers-for-class-12-accountancy-term-2-set-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBSE Sample Papers for Class 12 Accountancy Term 2 Set 4 with Solutions\" \/>\n<meta property=\"og:description\" content=\"Students can access the\u00a0CBSE Sample Papers for Class 12 Accountancy with Solutions and marking scheme Term 2 Set 4 will help students in understanding the difficulty level of the exam. 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