Sub. code 1041
NEB — GRADE XII
2082 GIE Set B
Old Question
Class 12 Accounting Old Question 2082 GIE Set B
The candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.
Pass Marks : 32
सबै प्रश्नको उत्तर दिनुहोस् । (Attempt All Questions)
This old question paper is for Class 12 Accounting, 2082 GIE Set B (subject code 1041), carrying full marks of 75 with a pass mark of 32, to be completed within 3 Hours. Model answers are available for questions that have one — reveal them with a free account (a few reveals) or a paid plan (unlimited).
Group A
very short answer question
Mention any two important documents of company.
What is issued capital?
Write about intangible assets.
Define costing.
Write the meaning of allocation of overhead.
Mention any two duties of store keeper.
What is time wage system?
Write the importance of MS Excel in payroll.
Prepare adjustment entry of commission earned but not received of Rs. 1,100.
Calculate amount of cash collection from customers from the following information.
Total sales during the period — Rs. 8,00,000
Beginning debtors — Rs. 40,000
Ending debtors — Rs. 50,000
The following information of a company are given as:
Ordering cost per order = Rs. 30
Carrying cost = Rs. 0.20
Annual requirements = 3,000 units
Required: Total cost of Economic Order Quantity
Group B
short answer question
A co. Ltd. issued 8,000 shares of Rs. 100 each at 10% discount payable as:
On application — Rs. 30
On allotment — Rs. 40
On final call — Rs. 20
Application received for 10,000 shares. Allotment made to all the applicants on pro-rata basis. Amount overpaid on application utilized towards sum due on allotment. All money duly received except 500 share failed to pay final call money.
Required: (a) Entries for application (b) Entries for allotment (c) Entries for final call
Rapti Ltd. purchased the following assets of Seti Ltd. at Rs. 10,00,000.
Equipments — Rs. 6,00,000
Building — Rs. 4,00,000
The company issued share of Rs. 100 each at 20% discount to discharge purchase value of assets to Seti Ltd.
Required: Entries for purchase of assets by issuing shares.
A Co. Ltd. issued 7,000, 9% Debenture of Rs. 100 each at 10% discount, redeemable after 10 years at 5% premium.
Required: Entries for issue and redemption of debentures.
Following information given as:
Items | Dr. Rs. | Cr. Rs. |
|---|---|---|
Net profit | - | 3,00,000 |
Retained earning | - | 60,000 |
Interim dividend | 20,000 | - |
Tax paid | 40,000 | - |
Share capital | - | 2,00,000 |
Creditors | - | 50,000 |
Debenture | - | 1,00,000 |
Debtors | 50,000 | - |
Machinery | 4,00,000 | - |
Investment | 1,60,000 | - |
Cash | 40,000 | - |
Total | 7,10,000 | 7,10,000 |
Additional information:
i. Transfer to general reserve Rs. 40,000
ii. Proposed dividend @10% of paid up capital.
Required: (a) Profit & Loss Appropriation Account (b) Balance Sheet
Following trial balance given for the year 2080.
Particulars | Dr. (Rs.) | Cr. (Rs.) |
|---|---|---|
Purchase | 3,00,000 | - |
Sales | - | 6,20,000 |
Unearned commission | - | 80,000 |
Creditors | - | 1,90,000 |
Debtors | 2,00,000 | - |
Machinery | 3,00,000 | - |
Tax paid | 30,000 | - |
Wages | 40,000 | - |
Rent | 20,000 | - |
Total | 8,90,000 | 8,90,000 |
Additional information:
i. Unearned commission earned: Rs. 40,000
ii. Proposed dividend: Rs. 20,000
Required: 12 column worksheet (Prepare format of worksheet yourself.)
Explain any five objectives of cost accounting.
Why bin card is used in store?
Following material related information of a factory given as:
Date | Particulars | Quantity and Rate |
|---|---|---|
Shrawan 1 | Opening stock | 800 Kg. @ Rs. 10 |
Shrawan 5 | Purchase | 2,000 Kg. @ Rs. 15 |
Shrawan 18 | Issue/(Sales) | 2,500 Kg. |
Shrawan 30 | Purchase | 3,000 Kg. @ Rs. 12 |
Required: Cost of goods issue (sold) and cost of closing stock using weighted average method under periodic inventory system.
Five workers work 8 hours per day, 6 working days in a week. They produce 10 units per hour.
Wages rate per unit is Rs. 30.
Required: Total wages under piece rate system.
A business firm shows its profit of income statement Rs. 3,00,000.
Following differences located in cost account.
a. Factory overhead under recorded in cost account Rs. 6,000.
b. Tax paid Rs. 8,000 shown only in financial account.
c. Rent income not shown in cost account Rs. 7,000.
Required: Cost reconciliation statement.
Explain any five merits of computer accounting.
Group C
long answer question
The following was the trial balance of a company:
Particulars | Dr. (Rs.) | Cr. (Rs.) |
|---|---|---|
Opening stock | 30,000 | |
Purchase | 3,20,000 | |
Wages | 50,000 | |
Rent | 30,000 | |
Salary | 50,000 | |
Custom duty | 5,000 | |
Sales commission | 10,000 | |
Furniture | 3,00,000 | |
Debtors | 40,000 | |
Interest | 5,000 | |
Cash | 80,000 | |
Prepaid insurance | 30,000 | |
Biological assets | 70,000 | |
Sales | 5,00,000 | |
Share capital | 3,00,000 | |
12% Loan | 1,00,000 | |
Creditors | 1,00,000 | |
Discount received | 20,000 | |
Total | 10,20,000 | 10,20,000 |
Additional information:
i. Closing stock: Rs. 40,000
ii. Pre-paid insurance was expired: Rs. 20,000
iii. Salary due: Rs. 5,000
iv. Depreciation on furniture: @10%
v. Provision for income tax: @25%
Statement of Profit or Loss as per NFRS
Statement of Financial Position under NFRS
Multi step income statement
Statement of financial position
Two years balance sheet and other information of a company is given.
Capital & liabilities | Year I | Year II |
|---|---|---|
Share capital | 4,00,000 | 5,00,000 |
Debenture | 80,000 | - |
Creditors | 48,000 | 80,000 |
Retained earning | 1,16,000 | 1,86,000 |
Total | 6,44,000 | 7,66,000 |
Assets | Year I | Year II |
|---|---|---|
Machinery | 2,40,000 | 4,00,000 |
Stock | 1,56,000 | 2,08,000 |
Debtors | 1,18,000 | 1,27,000 |
Cash | 1,30,000 | 31,000 |
Total | 6,44,000 | 7,66,000 |
Additional information:
i. Profit for the year: Rs. 1,30,000
ii. Depreciation on machinery: Rs. 40,000
iii. Purchase of machinery: Rs. 2,00,000
iv. Issue of share: Rs. 1,00,000
Required: Cash flow statement using indirect method.
A company provide the following information relating to manufacturing of goods.
Particulars | Amount |
|---|---|
Raw material purchase | Rs. 3,00,000 |
Factory rent | Rs. 10,000 |
Opening stock of raw materials | Rs. 30,000 |
Factory Fuel | Rs. 10,000 |
Office stationery | Rs. 10,000 |
Production | 3,000 units |
Carriage on purchase | Rs. 20,000 |
Direct wages | Rs. 2,00,000 |
Closing stock of raw materials | Rs. 20,000 |
Office salaries | Rs. 25,000 |
Selling and distribution expenses | Rs. 12,500 |
Opening stock of finished goods 500 units @ Rs. 195 per unit.
Closing stock of finished goods 1,000 units for Rs. 1,95,000.
Profit 20% on sales.
Required: (a) Prime cost (b) Factory cost (c) Cost of production (d) Profit (e) Sales price
Paper Overview & Analysis
2082 GIE Set B
Year
Old Question
Type
75
Full Marks
32
Pass Marks
3 Hours
Duration
28
Question Items
Question Type Breakdown
Group Breakdown