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Krishan Ltd has Issued Capital of 20, 00,000 Equity shares of ₹10 each. Till Date ₹8 per share have been called up and the entire amount received except calls of ₹4 per share on 800 shares and ₹3 per share from another holder who held 500 shares. What will be amount appearing as ‘Subscribed but not fully paid capital’ in the balance sheet of the company?  (A) ₹ 2,00,00,000  (B) ₹ 1,95,99,000  (C) ₹ 1,59,95,300  (D) ₹ 1,99,95,300 SOLUTION (C) ₹ 1,59,95,300  34 35 36 37 38 CBSE Class 12 Accountancy Sample Paper-2022

A and B are partners in the ratio of 3:2. C is admitted as a partner and he takes ¼th of his share from A. B gives `3/16` from his share to C. What is the share of C?  (A) `1/4`  (B) `1/16`  (C) `1/6`  (D) `1/16` SOLUTION (C) `1/6`  33 34 35 36 37 CBSE Class 12 Accountancy Sample Paper-2022

Newfound Ltd took over business of Old land ltd and paid for it by issue of 30,000, Equity Shares of ₹100 each at a par along with 6% Preference Shares of ₹1,00,00,000 at a premium of 5% and a cheque of ₹8,00,000. What was the total agreed purchase consideration payable to Old Land ltd.  (A) ₹1,05,00,000.  (B) ₹1,43,00,000.  (C) ₹1,40,00,000.  (D) ₹1,35,00,000. SOLUTION (B) ₹1,43,00,000. 32 33 34 35 36 CBSE Class 12 Accountancy Sample Paper-2022

Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares were reissued to Parker as fully paid up for ₹6 per share. What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account?  (A) ₹0  (B) ₹5  (C) ₹25  (D) ₹100 SOLUTION (C) ₹25  Explanation: Date Particulars L.F. Amount (Rs.) Amount (Rs.) Share Capital A/c 160 To Share Forfeiture A/c 100 To Calls in areal 60 Bank A/c 150 To Share Capital A/c 90 To Share Premium A/c 60 Share Forfeiture A.c 25 To Capital Reserve A/c 25 = `"100"/"20 Shares"`x 15 Shares = Rs. 75 = Rs. (100 - 75) = Rs. 25. 31 32 33 34 35 CBSE Class 12 Accountancy Sample Paper-2022

Ajay and Vinod are partners in the ratio of 3:2. Their fixed Capital were ₹3,00,000 and ₹4,00,000 respectively. After the close of accounts for the year it was observed that the Interest on Capital which was agreed to be provided at 5% pa was erroneously provided at 10%p.a. By what amount will Ajay’s account be affected if partners decide to pass an adjustment entry for the same?  (A) Ajay’s Current A/c will be Debited by ₹15,000.  (B) Ajay’s Current A/c will be Credited by ₹6,000.  (C) Ajay’s Current A/c will be Credited by ₹35,000.  (D) Ajay’s Current A/c will be Debited by ₹20,000. SOLUTION (B) Ajay’s Current A/c will be Credited by ₹6,000.  30 31 32 33 34 CBSE Class 12 Accountancy Sample Paper-2022

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A): In case of shares issued on Pro–rata basis, excess money received at the time of application can be utilised till allotment only. Reason (R): Company has to pay interest on calls in advance @12% p.a. for amount adjusted towards calls (if any). In the context of the above two statements, which of the following is correct? Codes:  (A) Both (A) and (R) are true, but (R) is not the explanation of working capital management.  (B) Both(A) and (R) are true and (R) is a correct explanation of (A).  (C) Both (A) and (R) are false.  (D) (A) is false, but (R) is true. SOLUTION (B) Both(A) and (R) are true and (R) is a correct explanation of (A).  29 30 31 32 33 CBSE Class 12 Accountancy Sample Paper-2022

Mohit had been allotted for 600 shares by a Govinda Ltd on pro rata basis which had issued two shares for every three applied. He had paid application money of ₹3 per share and could not pay allotment money of ₹5 per share. First and final call of ₹2 per share was not yet made by the company. His shares were forfeited. the following entry will be passed:  Date Particulars L.F. Amount (Rs.) Amount (Rs.) Equity Share Capital A/c X To share Forfeited A/c Y To Equity Share Allotment A/c  z Here X, Y and Z are:  (A) ₹ 6,000; ₹2,700; ₹3,000 respectively.  (B) ₹ 9,000; ₹2,700; ₹4,500 respectively.  (C) ₹ 4,800; ₹2,700; ₹2,100 respectively.  (D) ₹ 7,200; ₹2,700; ₹4,500 respectively. SOLUTION (C) ₹ 4,800; ₹2,700; ₹2,100 respectively.  28 29 30 31 32 CBSE Class 12 Accountancy Sample Paper-2022

Mickey, Tom and Jerry were partners in the ratio of 5:3:2. On 31st March 2021, their books reflected a net profit of ₹2,10,000. As per the terms of the partnership deed they were entitled for interest on capital which amounted to ₹80,000, ₹60,000 and ₹40,000 respectively. Besides this a salary of ₹60,000 each was payable to Mickey and Tom. Calculate the ratio in which the profits would be appropriated. (A) 1:1:1 (B) 5:3:2 (C) 7:6:2 (D) 4:3:2 SOLUTION (C) 7:6:2  Explanation: Mickey Tom Jerry Interest on the Capital 80,000 60,000 40,000 Salary to the Partners 60,000 60,000 – Total 1,40,000 1,20,000 40,000 Mickey's Ratio = `"1,40,000"/"3,00,000"` = `"70,000"/"1,50,000"` = `14/30` = `7/15` Tom's Ratio = `"1,20,000"/"3,00,000"` = `"60,000"/"1,50,000"` = `"12"/"30"` = `"6"/"15"` Jerry's Ratio = `"40,000"/"3,00,000"` = `"20,000"/&quo

Which of the following statement is/are true?  (i) Authorized Capital < Issued Capital  (ii) Authorized Capital ≥ Issued Capital  (iii) Subscribed Capital ≤ Issued Capital  (iv) Subscribed Capital > Issued Capital  (A) (i) only  (B) (i) and (iv) Both  (C) (ii) and (iii) Both  (D) (ii) only   SOLUTION (C) (ii) and (iii) Both  26 27 28 29 30 CBSE Class 12 Accountancy Sample Paper-2022

Apaar Ltd forfeited 4,000 shares of ₹20 each, fully called up, on which only application money of ₹6 has been paid. Out of these 2,000 shares were reissued and ₹8,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued. (A) ₹20 Per share (B) ₹18 Per share (C) ₹22 Per share (D) ₹8 Per share SOLUTION (B) ₹18 Per share 25 26 27 28 29 CBSE Class 12 Accountancy Sample Paper-2022

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A): Revaluation A/c is prepared at the time of Admission of a partner. Reason (R): It is required to adjust the values of assets and liabilities at the time of admission of a partner, so that the true financial position of the firm is reflected. In the context of the above two statements, which of the following is correct? Codes: (A) Both (A) and (R) are correct and (R) is the correct reason of (A). (B) Both (A) and (R) are correct but (R) is not the correct reason of (A). (C) Only (R) is correct. (D) Both (A) and (R) are wrong. SOLUTION (A) Both (A) and (R) are correct and (R) is the correct reason of (A). 24 25 26 27 28 CBSE Class 12 Accountancy Sample Paper-2022

Simon Singh Horo Scholarship Simon Singh Horo Scholarship for Post -Matric Students Simon Singh Horo Scholarship, 2021-22 Every Year The Assam Government and other Organisations are launched many beneficiary Scholarship to the Assam students to support them with their educational cost. The Students who belonging tea tribe community can apply for this year’s Simon Sing Horo Special Scholarship (Post Metric Scholarship). The Eligibility Criteria & Complete Process to Apply Offline/online is describe in below.The Director of Tea Tribe Welfare Department Assam has started the Simon Singh Horo Scholarship Registration Process for the session 2022-23. If you from a tea tribe community then you can apply for this Scholarship. Eligibility Criteria of Simon Singh Horo Scholarship 2022-23 The Eligibility Criteria of Simon Singh Horo Scholarship are - Applicants Bank Account, TGL/Ex-TGL Caste Certificate, Must be a permanent resident of Assam, Applicant providing admission receipts proving c

Abhay and Baldwin are partners sharing profit in the ratio 3:1. On 31st March 2021, firm’s net profit is ₹1,25,000. The partnership deed provided interest on capital to Abhay and Baldwin ₹15,000 & ₹10,000 respectively and Interest on drawings for the year amounted to ₹6000 from Abhay and ₹4000 from Baldwin. Abhay is also entitled to commission @10% on net divisible profits. Calculate profit to be transferred to Partners Capital A/c’s.  (A) ₹1,00,000  (B) ₹1,10,000  (C) ₹1,07,000  (D) ₹90,000 SOLUTION (A) ₹1,00,000  23 24 25 26 27 CBSE Class 12 Accountancy Sample Paper-2022

A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month and his interest on drawings amounted to ₹4,800 at the end of the year. What was the amount of his monthly drawings?  (A) ₹10,000.  (B) ₹5,000.  (C) ₹1,20,000.  (D) ₹48,000. SOLUTION (A) ₹10,000.  Explanation: Let Partner B's per month drawings = D Total months in a year = 12 Total drawings made by B during the year = 12 × D = 12D Interest on drawing = 8,250 Average period for interest on drawings= `frac{"months remaining after first drawing x months remaining after last drawing"}{2}` = `"(11+0) "/"2"` = 5.5 months Calculations of Interest on drawings = (annual drawing × Rate of interest × `"Average Profit"/"12"` = 8,250 = 12D × 15 × `"5.5"/"12"` = D = 10,000 22 23 24

Anubhav, Shagun and Pulkit are partners in a firm sharing profits and losses in the ratio of 2:2:1. On 1st April 2021, they decided to change their profit-sharing ratio to 5:3:2. On that date, debit balance of Profit & Loss A/c ₹30,000 appeared in the balance sheet and partners decided to pass an adjusting entry for it. Which of the undermentioned options reflect correct treatment for the above treatment?  (A) Shagun's capital account will be debited by ₹3,000 and Anubhav’s capital account credited by ₹3,000  (B) Pulkit's capital account will be credited by ₹3,000 and Shagun's capital account will be credited by ₹3,000  (C) Shagun's capital account will be debited by ₹30,000 and Anubhav’s capital account credited by ₹30,000  (D) Shagun's capital account will be debited by ₹3,000 and Anubhav’s and Pulkit’s capital account credited by ₹2,000 and ₹1,000 respectively. SOLUTION (A) Shagun's capital account will be debited by ₹3,000 and Anubhav’s capital account c

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) Assertion (A): Transfer to reserves is shown in P & L Appropriation A/c. Reason (R): Reserves are charge against the profits. In the context of the above statements, which one of the following is correct? Codes: (A) (A) is correct, but (R) is wrong. (B) Both (A) and (R) are correct. (C) (A) is wrong, but (R) is correct. (D) Both (A) and (R) are wrong. SOLUTION (A) (A) is correct, but (R) is wrong. 20 21 22 23 24 CBSE Class 12 Accountancy Sample Paper-2022

At the time of admission of new partner Vasu, Old partners Paresh and Prabhav had debtors of ₹6,20,000 and a provision for doubtful debts of ₹20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worth ₹15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation. Date Particulars Amount (Dr.) Amount (Cr.) (a) Bad Debts A/c Dr. 15,000   To Sundry Debtors 15,000 Provision for doubt full debts A/c 15,000     To Bad Debts A/c 15,000 (b) Bad Debts A/c 15,000    To Sundry Debtors 15,000 Revaluation A/c 15,000    To Provision for doubt full debts A/c 15,000 (c) Revaluation A/c 15,000    To Sundry Debtors A/c 15,000 (d) Bad debts A/c  15,000      To Revaluation A/c 15,000 SOLUTION Date Particulars Amount (Dr.) Amount (Cr.) (a) Bad Debts A/c Dr. 15,000   To Sundry Debtors 15,000 Provision for doubt full debts A/c 15,000     To Bad Debts A/c 15,000

Asha and Nisha are partner’s sharing profits in the ratio of 2:1. Kashish was admitted for 1/4 share of which 1/8 was gifted by Asha. The remaining was contributed by Nisha. Goodwill of the firm is valued at ₹ 40,000. How much amount for goodwill will be credited to Nisha’s Capital account?  (A) ₹2,500.  (B) ₹5,000.  (C) ₹20,000.  (D) ₹ 40,000. SOLUTION (B) ₹5,000.  18 19 20 21 22 CBSE Class 12 Accountancy Sample Paper-2022

Angle and Circle ware partners in a firm. Their Balance Sheet showed  Furniture at ₹2,00,000;  Stock at ₹1,40,000;  Debtors at ₹1,62,000 and  Creditors at ₹60,000.  Square was admitted and new profit-sharing ratio was agreed at 2:3:5. Stock was revalued at ₹1,00,000, Creditors of ₹15,000 are not likely to be claimed, Debtors for ₹2,000 have become irrecoverable and Provision for doubtful debts to be provided @ 10%. Angle’s share in loss on revaluation amounted to ₹30,000. Revalued value of Furniture will be:   (A) ₹2,17,000  (B) ₹1,03,000  (C) ₹3,03,000  (D) ₹1,83,000 SOLUTION (D) ₹1,83,000 17 18 19 20 21 CBSE Class 12 Accountancy Sample Paper-2022

1.Reema took 5ml of Lead Nitrate solution in a beaker and added approximately 4ml of Potassium Iodide solution to it. What would she observe? A. The solution turned red. B. Yellow precipitate was formed. C. White precipitate was formed. D. The reaction mixture became hot. SOLUTION 2.  Identify gas A in the following experiment. A. Nitrogen B. Hydrogen C. Oxygen D. Carbon dioxide SOLUTION   3. Which of the following two combinations are correct? Option Metal Gas Evolved (i) Copper Yes (ii) Iron Yes (iii) Magnesium No (iv) Zinc Yes A. i and iii B. i and iv C. ii and iii D. ii and iv SOLUTION 4. Which of the following correctly represents a balanced chemical equation? A. Fe(s) + 4`"H"_{2}`O(g) → F`"e"_{3}``"O"_{4}` (s) + 4`"H"_{2}`(g) B. 3Fe(s) + 4`"H"_{2}`O(g) → F`"e"_{3}``"O"_{4}` (s) + 4`"H"_{2}`(g) C. 3Fe(s) +  `"H"_{2}`O (g) →  F`"e"_{3}` `"O"_{4}`  (s) +  `"H"_{2}`