Book Keeping and Accountancy – Important Questions Bank for Maharashtra Board HSC 2016 Examination

Account- Important Question Maharashtra HSC Board.

1. Chapter 10 & 11 option
2. Partnership Account-Admission, Death or Dissolution problems.(Very Important) (Can be asked as practical problems as well as Theory)
3. Single Entry Problem. (Very Important)
4. Bill of exchange
5. Text book questions pg-69,70,71 / Q-6,7,9
6. Pg-110,112,113 / Q-4,8,10
7. Pg-128,129 / Q-2,4
8. Pg-142,143 / Q-2,4
9. Pg-183,184,186 / Q-3,5,8
10. Pg 230,232,233 / Q-5,7,9
11. Pg- 260,261,263 / Q-2,6,9
12. Pg 318,319 / Q-8,10,15,16
13. Pg- 352,353 / Q-3,6,8
14. Pg- 373,374 / Q-2,4

Here are some practical problems for revision:

• Capital of Arjun is Rs 20,000 and that of Kailash is R 30,000 as on 01-04-11. Arjun introduced additional capital of R 15,000 on 01st Jan, 2012 and Kailash introduced additional capital of R 10,000 on 01-07-2011. What will be the amount of interest for the year ending 31-03-12, if rate of interest is 12%.
• Rahul and Sumit are partners sharing profits and losses in the ratio 2:1. On 1st April, 2012 their Capital balances are Rahul R 60,000 and Sumit R 30,000, their drawings are R 6,000 and R 4,000 respectively. According to the partnership deed, 10% interest is allowed on partnership R 70,000 for the business of the firm. On 1-01-2013 Sona and Mona had withdrawn R 30,000 & R 40,000 respectively for their personal use.The Partnership Deed provides for Interest on Capital @ 7% p.a. and Interest on Drawings @ 10% p.a. Sona is to get salary of R 2,000 per month starting from 1-07-2012 and Mona is to get commission on sales @ 10%. Sales for the year is R 2,00,000 and Net Profit for the year is R 50,000.Prepare Capital and Current Account of the Partners in the following situations:A.  Fixed Capital Method     B.Fluctuating Capital Method
• Sona and Mona are partners. They started their business on 1-04-2012 on which date they contributed R 3,00,000 each as their capital. On 1-07-2012, Sona purchased furniture of R 60,000 for the firm from her personal resources. On 1-10-2012, Mona supplied her own Machinery Costing R 70,000 for the business of the firm. On 1-01-2013 Sona and Mona had withdrawn R 30,000 & R  40,000 respectively for their personal use. The Partnership Deed provides for Interest on Capital @ 7% p.a. and Interest on Drawings @ 10% p.a. Sona is to get salary of R 2,000 per month starting from 1-07-2012 and Mona is to get commission on sales @ 10%. Sales for the year is R 2,00,000 and Net Profit for the year is R 50,000. Prepare Capital and Current Account of the Partners in the following situations:                                                                                                                                                                                                                                                                        A. Fixed Capital Method B. Fluctuating Capital Method
• Ram and Shyam are partners with their capital R 30,000 and R 20,000. Net Profit of the firm is R 40,000, what will be each partner’s share if:                                                                                                                                                                                                                                                                        I) Partnership deed is silent or in the absence of information. II) They share in the ratio of their capital. III) They share in ratio of 3 IV)  The profit is R 19,001 and partners share equally.
• Write a short notes on E-Commerce
• Renuka Trading Company ambajogi purchased furniture on 1^st April 2202, for Rs. 50,000. In the same year on 1^st October additional furniture was purchased for Rs. 20,000. On 1^st Oct 2003 the furniture purchased for Rs.25,000.The company charges depreciation at 10% p.a. on Reducing balance method. Prepare furniture A/C and Depreciation A/C for three years ending on 31.3.03,31.03.04.and 31.03.05OrThe capital employed of a firm is Rs. 10,00,000. Its Average Profit for last three years is Rs. 2,00,000 and the normal rate of return is the firm is 15%. Calculate goodwill at four years purchase of the super profit.
• What do you mean by computer hardware and software? Give their uses.
• Prakesh owes Subhash Rs. 20,000. Prakesh accepted a bill for three months drawn by shubash for Rs.20,000. Shubash discounted the bill with bank @10%p.a. immediately.On the due date the bill was dishonored. Nothing charge amounted to Rs.100 paid by Bank. Prakash paid half the amount of the bill and the full amount of the noting charges and accepted a fresh bill for the balance including interest Rs.500.Pass journal entries in the books of Subhash and show Prakash Amount.
• Krishna of Udgir and Sanjay of Lohara entered into joint venture to consign 500 bags of rice to Vijay Traders, Nerul to be sold on their joint risk which in proportion of 3/5 and 2/5 respectively.Krishna sent 300 bags of ric @ Rs. 1,200 each paying carriage Rs. 10,000, insurance Rs. 3,000 and other expenses Rs. 2,000. Sanjay sent 200 bags of rice @Rs.1,400 each,paying carriage Rs. 8,000 and other expence Rs. 2,000.Sanjay received and advance of Rs. 4,00,000 to Krishna by Bank draft and the balance to sanjay by one month’s bill.Co-Venture settled their accounts. Prepare : (I) joint Venture A/c, (II) Sanjay A/c and (III) Vijay Traders A/c in the books of Krishna.

*most repeated Question

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