Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Class 12: Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

The document Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12 is a part of the Class 12 Course Sample Papers for Class 12 Commerce.
All you need of Class 12 at this link: Class 12

Class - XII

Accountancy

TIME: 3 Hrs.

M.M: 80

General Instructions :

Read the following instructions very carefully and strictly follow them :
(i) This question paper comprises two Parts—A and B. There are 32 questions in the question paper. All Questions are compulsory.
(ii) Heading of the option opted must be written on the Answer-Book before attempting the questions of that particular option.
(iii) Question numbers 1 to 13 and 23 to 29 are very short answer type questions carrying 1 mark each.
(iv) Question numbers 14 and 30 are short answer type-I questions carrying 3 marks each.
(v) Question numbers 15 to 18 and 31 are short answer type-II questions carrying 4 marks each.
(vi) Question numbers 19, 20 and 32 are long answer type-I questions carrying 6 marks each.
(vii) Question numbers 21 and 22 are long answer type-II questions carrying 8 marks each.
(viii) There is no overall choice. However, an internal choice has been provided in 2 questions of three marks, 2 questions of four marks and 2 questions of eight marks. You have to attempt only one of the choices in such questions.
PART - A

Q.1. ________means amount received or set aside by a Not-for Profit Organisation for a specific purpose.
Ans. Fund

Q.2. For which of the following situations, the old profit sharing ratio of partners is used at the time of admission of a new partner ?
(a) 
When new partner brings only a part of his share of goodwill.
(b) 
When new partner is not able to bring his share of goodwill.
(c)
When, at the time of admission, goodwill already appears in the balance sheet.
(d) 
When new partner brings his share of goodwill in cash.
Ans. (c) When, at the time of admission, goodwill already appears in the balance sheet.

Q.3. A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. B was guaranteed a profit of Rs. 2,00,000. During the year the firm earned a profit of Rs. 84,000. Calculate the net amount of Profit / Loss transferred to the Capital Accounts of A and C.
Ans. Net Amount of Loss transferred to:
A's Capital Account : Rs. 87,000
C's Capital Account : Rs. 29,000

Q.4. A and B were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted C as a new partner. The new profit sharing ratio between A, B and C was 3 : 2 : 3. A surrendered Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12of his share in favour of C. Calculate B’s sacrifice.
Ans. B's old share = 3/8
B's new share = 2/8
B's sacrifice = B's old share – B's new share
B's sacrifice = Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.5. Abha and Beena were partners sharing profits and losses in the ratio of 3 : 2. On April 1, 2013, they decided to admit Chanda for 1/5th share in the profits. They had a reserve of Rs. 25,000 which they wanted to show in their new balance sheet. Chanda agreed and the necessary adjustments were made in the books. On October 1, 2013, Abha met with an accident and died. Beena and Chanda decided to admit Abha’s daughter Fiza in their partnership, who agreed to bring Rs. 2,00,000 as capital. Abha’s share in the reserve on the date of her death is :
(a) Rs. 12,000
(b) Rs. 25,000
(c) Rs. 24,000
(d) Rs. 6,000
Ans. (a) Rs. 12,000

Q.6. A company forfeited 4,000 shares of Rs. 10 each on which application money of Rs. 3 has been paid. Out of these 2,000 shares were reissued as fully paid up and Rs. 4,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.
(a) Rs. 10 per share
(b) Rs. 9 Per share
(c) Rs. 11 Per share
(d) Rs. 8 Per share
Ans. Rs. 9 per share

Q.7. Give the journal entry to distribute ‘Workmen’s Compensation Reserve’ of Rs. 70,000 at the time of retirement of Neeti, when there is a claim of Rs. 25,000 against it. The firm has three partners Raveena, Neeti and Rajat.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.8. The gain/loss on Realisation is transferred to ________ :
(a) All Partners’ Capital Accounts
(b) Deceased Partner ’s Capital Account
(c) Executor ’s Account
(d) None of these
Ans. (a) All Partners’ Capital Accounts

Q.9. Stock with book value of Rs. 45,000 was taken by X at Rs. 40,000. What amount should be debited to X’s Capital Amounts ?
(a) Rs. 40,000
(b) Rs. 45,000
(c) Rs. 85,000
(d) None of these
Ans. (a) Rs. 40,000

Q.10. Retirement or death of a partner will create a situation for the continuing partners, which is known as :
(a) 
Dissolution of Partnership
(b) 
Dissolution of partnership firm
(c) 
Winding up of business
(d) 
None of the above
Ans. (a) Dissolution of partnership

11. Pick the odd one out :
(a) 
Average Profit Method
(b) 
Product Method
(c) 
Capitalization Method
(d) 
Super Profit Method
Ans. (b) Product Method

Q.12. Gama Chemicals Ltd. is a newly formed company. How much discount per share can it allow for issuing its shares to the public?
(a) 6%
(b) 10%
(c) 5%
(d) None of the above
Ans. (d) None of the above

13. Debenture interest is paid as :
(a) 
based on the net profit of company
(b) 
at a predetermined rate
(c) 
at variable rate
(d) 
none of these
Ans. (b) at a predetermined rate

Q.14. From the following information, calculate the amount to be charged to Income and Expenditure Account for ‘Sports material consumed’ for the year 2019-20.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
There was zero stock at the end of financial year 2019-20.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Table for calculation of Sports Material Consumed :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
* Calculation of Sports material consumed by alternative methods should be accepted.
OR
Calculate the amount of Subscription to be credited to Income and Expenditure Account for the year 2019-20.

Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Out of subscription in arrears on 01-04-2019, Rs. 15,000 are no longer recoverable.
Ans. 
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.15. Ashish and Kanav were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2018 their Balance Sheet was as follows :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
On the above date, they decided to dissolve the firm.
(i) Ashish agreed to take over furniture at Rs. 38,000 and pay off Mrs. Ashish’s loan.
(ii) Debtors realised Rs. 18,500 and plant realised 10% more.
(iii) Kanav took over 40% of the stock at 20% less than the book value. Remaining stock was sold at a gain of 10%.
(iv) Trade creditors took over investments in full settlement.
(v) Kanav agreed to take over the responsibility of completing dissolution at an agreed remuneration of Rs. 12,000 and to bear realization expenses. Actual expenses of realization amounted to Rs. 8,000.

Prepare Realisation Account.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.16. On 1.4.2018, Jay and Vijay entered into partnership for supplying laboratory equipment to government school situated in remote and backward areas. They contributed capitals of Rs. 80,000 and Rs. 50,000 respectively and agreed to share the profits in the ratio of 3 : 2. The Partnership Deed provided that Interest on Capital shall be allowed at 9% per annum. During the year, the firm earned a profit of Rs. 7,800.
Showing your calculations clearly, prepare ‘Profit & Loss Appropriation A/c’ of Jay and Vijay for the year ended 31.3.2019.

Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Working Notes :
Calculation of Interest on Capital :

Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
But, Profit earned = Rs. 7,800
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
OR

Ajay, Binay and Chetan were partners sharing profits in the ratio of 3 : 3 : 2. The partnership deed provided for the following :
(i) Salary of Rs. 2,000 per quarter to Ajay and Binay.
(ii) Chetan was entitled to a commission of Rs. 8,000.
(iii) Binay was guaranteed a profit of Rs. 50,000 p.a.

The profit of the firm for the year ended 31st March, 2015 was Rs. 1,50,000 which was distributed among Ajay, Binay and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of partnership deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your working clearly.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Working Notes :
(i) Profit to be distributed (Cr.) = Rs. 76,000 × 3 x 5 = Rs. 45,000
(ii) Profit to be distributed (Dr.) = Rs. 76,000 × 2 x 5 =  Rs. 30,400

Q.17. The authorised capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 each at a premium of Rs. 10 per share. The amount was payable as follows :
Rs. 50 per share on application, Rs. 40 per share on allotment (including premium), Rs. 30 per share on first call and balance on final call. Public applied for 14,000 shares. All the money was duly received.

Prepare an extract of Balance Sheet of Suhani Ltd. as per Schedule III Part I of the Companies Act, 2013 disclosing the above information. Also prepare ‘Notes to Accounts’ for the same.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.18. Ajay, Binod and Chandra entered into partnership on 1st April, 2019 with a capital of Rs. 3,00,000, Rs. 2,00,000 and Rs. 1,00,000 respectively. In addition to capital Chandra has advanced a loan of Rs. 1,00,000. Since they had no agreement to guide them, they faced following issues during and at the end of the year :
(i) Ajay wanted interest on capital to be provided @8% p.a. but Binod and Chandra did not agree.
(ii) Chandra wanted that interest on loan be paid to him @1% p.a. but Ajay and Binod wanted to pay @ 5% p.a.
(iii) Ajay and Binod demanded to share profits in the ratio of their capital contribution, Chandra is not in agreement with this proposal.
(iv) Binod, being a working partner, demands a lump sum payment of Rs. 40,000 as remuneration for which other others partners are not in agreement.
You are required to suggest and help them resolve these issues.
Ans. 
(i) In the absence of Partnership deed, the provisions of Partnership Act, 1932 will apply according to which no interest on capital is payable.
(ii) In the absence of partnership deed, the provisions of Partnership Act, 1932 will apply according to which interest on loan by partner will be paid @ 6% p.a.
(iii) In the absence of partnership deed, the provisions of Partnership Act, 1932 will apply according to which profits will be shared equally.
(iv) In the absence of partnership deed, the provisions of Partnership Act, 1932 will be applicable according to which no salary/remuneration is payable to any partner.

Q.19. From the following information of Gems Club, prepare Income and Expenditure Account for the year ended 31st March, 2018 :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Additional Information : Subscriptions received included Rs. 15,000 for 2018-19. The amount of subscriptions outstanding on 31st March, 2018 were Rs. 20,000. Salaries unpaid on 31st March, 2018 were Rs. 8,000 and Rent receivable was Rs. 2,000. Opening stock of printing and stationery was Rs. 12,000, whereas Closing stock was Rs. 15,000.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.20. On 1-4-2015, K.K. Ltd. issued 500, 9% Debentures of Rs. 500 each at a discount of 4%, redeemable at a premium of 5% after three years. Pass necessary Journal Entries for the issue of debentures and debenture interest for the year ended 31-3-2016 assuming that interest is payable on 30th September and 31st March and the rate of tax deducted at source is 10%. The company closes its books on 31st March every year.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.21. Ram and Shyam were partners in a firm sharing profits in the ratio of 2 : 3 respectively. They became old and no one was there to look after their business. So they decided to dissolve their business. On 31st January, 2014, their Balance Sheet was as follows :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Ram paid the creditors at a discount of 15% and Shyam paid Bills Payable in full. Assets realised as follows: Land at 20% less; Machinery at Rs. 35,000; Stock at 25% less and Debtors at Rs. 12,500. Expenses on realisation Rs. 1,750 were paid by Shyam.
Prepare Realisation Account, Partners’ Capital Accounts and Bank Account.

Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
OR
C and D are partners in a firm sharing profits in the ratio of 4 : 1. On 31.3.2016, their Balance Sheet was as follows :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
On the above date, E was admitted for Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12share in the profits on the following terms :
(i) E will bring Rs. 1,00,000 as his capital and Rs. 20,000 for his share of goodwill premium, half of which will be withdrawn by C and D.
(ii) Debtors Rs. 2,000 will be written off as bad debts and a provision of 4% will be created on debtors for bad and doubtful debts.
(iii) Stock will be reduced by Rs. 2,000, furniture will be depreciated by Rs. 4,000 and 10% depreciation will be charged on plant and machinery.
(iv) Investments of Rs. 7,000 not shown in the Balance Sheet will be taken into account.
(v) There was an outstanding repairs bill of Rs. 2,300 which will be recorded in the books.

Pass necessary journal entries for the above transactions in the books of the firm on E’s admission.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.22. Zocon Ltd. issued a prospectus inviting applications for 5,00,000 equity shares of Rs. 10 each issued at a premium of 10% payable as:
Rs. 3 on Application
Rs. 5 on Allotment (including premium) and Rs. 3 on call.

Applications were received for 6, 60,000 shares. Allotment was made as follows:
(a) Applicants of 4, 00,000 shares were allotted in full.
(b) Applicants of 2, 00,000 shares were allotted 50% on pro rata basis.
(c) Applicants of 60,000 shares were issued letters of regret.
A shareholder to whom 500 shares were allotted under category
(a) paid full amount on shares allotted to him along with allotment money. Another shareholder to whom 1,000 shares were allotted under category
(b) failed to pay the amount due on allotment. His shares were immediately forfeited. These shares  were then reissued at Rs. 14 per share as Rs. 7 paid up. Call has not yet been made.
Journalise.

Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
OR

X Ltd. has offered 50,000 equity shares of Rs. 100 each at a premium of Rs. 20, payable as follows:
Application Rs.  50
Allotment Rs. 40 (including premium)
and Balance on first and final call.

The bank account of the company has received Rs. 35, 00,000 on account of share application money.
X Ltd. decided to allot shares to all the applicants on pro rata basis. The balance in calls in arrears account at the time of allotment and first and final call amounted to Rs. 1, 00,000 and Rs. 1, 50,000 respectively. These shares were forfeited and re-issued at Rs. 90 per share as fully paid up. Journalize.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.23. What level of Debt Equity Ratio is considered satisfactory ?
(a) 2 : 1
(b) 1 : 2
(c) 1 : 1
(d) 3 : 1
Ans. (a) 2 : 1

Q.24. X Ltd. has a net profit ratio of 15%. Its management is interested in maintaining this ratio at 20%. Following options are available :
(a) To reduce operating expenses
(b) To reduce non-operating expenses
(c) To increase non-operating incomes
(d) To reduce cost of revenue from operations Choose the correct option :

(a) Only (i) is correct
(b) Only (ii) is correct
(c) Only (iii) is correct
(d) All are correct
Ans. (d) All are correct

Q.25. Interest on Loans given by a financial company is shown in the Statement of Profit and Loss as :
(a) 
Revenue from Operations
(b) 
Other Income
(c) 
Sundry Expenses
(d) 
None of these
Ans. (a) Revenue from operations

Q.26. Which of the following is not an investing cash flow :
(a) 
Purchase of marketable securities for Rs. 25,000 cash.
(b) 
Sale of land for Rs. 28,000 cash.
(c) 
Sale of 2,500 shares (held as investment) for Rs. 15 each.
(d) 
Purchase of equipment for Rs. 500 cash.
Ans. (a) Purchase of marketable securities for Rs. 25,000 cash.

27. 15000 6% Debentures issued on 1st April, 2016 and redeemable on 31st March, 2022 will be shown under :
(a) 
Long-term borrowings
(b) 
Other long-term liabilities
(c) 
Current liabilities
(d) 
Other Current liabilities
Ams. (a) Long-term borrowings

Q.28. ‘G Ltd.’ is carrying on a paper manufacturing business. In the current year, it purchased machinery for Rs. 30,00,000; it paid salaries of Rs. 60,000 to its employees; it required funds for expansion and therefore, issued shares of Rs. 20,00,000. It earned a profit of Rs. 9,00,000 for the current year.

Cash flow from operating activities would be :
(a) 
Rs. 9,00,000
(b) 
Rs. 6,00,000
(c) 
Rs. 8,00,000
(d) 
Rs. 10,00,000
Ans. (a) Rs. 9,00,000

Q.29. What is the standard which is considered ideal for quick ratio ?
Ans. 1 : 1.

Q.30. Calculate proprietary ratio, if Total Assets to Debt ratio is 2:1. Debt is Rs. 5,00,000. Equity shares capital is 0.5 times of debt. Preference shares capital is 25% of equity share capital. Net profit before tax is Rs. 10,00,000 and rate of tax is 40%.
Ans. Proprietary Ratio = Proprietor ’s Fund/Total Assets
Total Assets = Debts × 2
= Rs. 5,00,000 × 2
= Rs. 10,00,000
Proprietors’ Funds = Equity Share Capital + Preference Share Capital + Surplus
= (Rs. 5,00,000 × 0.5) + (Rs. 5,00,000 × 0.5 × 25%) + (Rs. 10,00,000 – 40% of Rs. 10,00,000)
= Rs.  2,50,000 + Rs. 62,500 + Rs. 6,00,000
= Rs. 9,12,500
Proprietary Ratio = Rs. 9,12,500 / Rs. 10,00,000
= 0.12 : 1
OR
From the following information, calculate ‘interest Coverage Ratio.

Profit after interest and tax   Rs. 7,50,000
Rate of Income Tax   25%
9% Debentures Rs. 8,00,000
Ans. Interest Coverage Ratio = Profit before Interest and Tax/Interest on Long term Debts
Profit after Interest and Tax = Rs. 7,50,000
+ Tax = Rs. 2,50,000
Profit before Tax Rs. 10,00,000
+ Interest on Debenture = Rs. 72,000
= Rs. 10,72,000
Interest Coverage Ratio = 10,72,000/72,000
= 14.89 times

Q.31. From the following extract of the Statement of Profit & Loss for the years ended 31st March, 2019 and 2020 of XYZ Ltd., prepare a Comparative Statement of Profit & Loss :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Ans. Comparative Statement of Profit & Loss
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
OR
From the following statement of Profit and Loss of Star Ltd., for the years ended 31st March, 2015 and 2016, prepare a Common Size Statement :

Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Ans. Common Size Statement
for the year ending 31st March, 2015 and 2016
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

Q.32. From the following Balance Sheet of Kiero Ltd. and the additional information as on 31-3-2018, prepare a Cash Flow Statement :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Notes to Accounts
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Additional Information :
12% debentures were issued on 1st September, 2017.
Ans.
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12
Working Notes:
(i) Calculation of Net Profit before Tax :
Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12

The document Accountancy: CBSE Sample Question Papers (2020-21)- 4 Notes | Study Sample Papers for Class 12 Commerce - Class 12 is a part of the Class 12 Course Sample Papers for Class 12 Commerce.
All you need of Class 12 at this link: Class 12

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