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After the tremendous success of our last year Important Question Bank for Jammu & Kashmir (12th) HSC Board Exam 2016, we have also created a list of Most Important Question Bank for Jammu & Kashmir (12th) HSC Board Exam 2017 which are likely to appear in HSC Board Exams this year.
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1.Mr. Suhail withdrew Rs. 1000 per month regularly on the first day of every month during 2008. Calculate interest on drawings @ 5% p.a.
2. X and Y enter into partnership on 1st April, 2008. There is no partnership deed. The capitals introduced by them are X Rs. 50,000 and Y Rs. 30,000. On 1st July, 2008, X advances a loan of Rs. 10,000 to the firm. Profit for the year ending 31st March, 2009 was Rs. 20,000. Prepare profit and loss appropriation account showing the distribution of profits.
3. A and B are partners, sharing profits in the ration of 3: 2. C is admitted as a partner. The new profit sharing ratio among A, B and C is 4: 3: 2. Find out the scarifying ratio.
4. A, B and T are sharing profits in the ratio of 9: 5: 4: B retires and his share is entirely taken by T. calculate new profit sharing ratio and A and T.
5. A and B and C are three partners sharing profits and losses in the ratio of 4: 3: 2. B retires from the partnership. What will be profit and loss ratio between A and C after B retirement?
6. Rita ’, Sita and geeta are partners sharing in the ratio of 3: 4: 2. Rita retires and the goodwill of the firm is valued at Rs. 16,200. Give journal entry relating to retiring partner’s share of goodwill?
7. N.K. Ltd invited applications for 10,000 shares of Rs. 100 each. These shares were payable:
i) On application 20
ii) On allotment 30
iii) On 1st Call and final call 50
The public applied for 9000 shares. All applications were accepted and money received. Give journal entries.
8. ‘ABC Ltd. Forfeited 100 shares of Rs. 10 each for non-payment of final call of Rs. 5 per share. Pass necessary journal entry.
9. Mana tool assets of Rs. 10,00,000 and liabilities of Rs, 1,20,000 of Deen Ltd for the purchase consideration of Rs. 11,00,000 which is paid by issuing debentures of Rs. 100 each at 10% premium. Give journal entries in the book of mana
10. A Ltd. Company issued 4000, 14% debentures of Rs. 100 each at a premium of Rs. 5% agreeing to repay the same at par at the end of 5 years. Rs 10 is payable on application. Rs 25(including premium) on allotment and Rs. 70 on the first and final call. Pass journal entries to record the issue.
11. At what rate interest will be allowed on calls in advance?
12. What do you mean by Redemption of Debentures?
13. What are calls in Advance?
14. Name different kinds of shares
16. 15. Name three methods of valuation of goodwill
17. Give the meaning of sacrificing ratio
18. A and B are partners sharing in the ratio of 3:2. C is admitted for 1/4th share. Calculate new ratios
19. What do you mean by goodwill.
21. What do you mean by share?
22. What is debenture?
23. What is Revaluation Account?
24. What do you mean by Gaining Ratio?
25. Name four items which are credited to the partner’s capital account when capitals are fluctuating.
Don’t forget to read : MUST REMEMBER THINGS on the day of Exam for HSC Students
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