Class 12 AccountancyImportant Questions for Board Exams

Prepare a Profit and Loss Appropriation Account given the following data: [table]

What is the difference between fixed and fluctuating capital method?

X and Y are partners in 3:2 ratio. Z is admitted for 1/5th share. Calculate the new profit sharing ratio and sacrificing ratio.

Prepare the Revaluation Account and Partners' Capital Accounts on admission of Z into a firm.

A, B and C are partners in 5:3:2 ratio. C retires. Find the gaining ratio and new profit sharing ratio.

Prepare necessary accounts on the retirement of a partner.

Prepare a Realisation Account, Partners' Capital Accounts and Cash/Bank Account for dissolution of a firm.

What is the order of payment on dissolution of a firm?

Pass journal entries for issue of 10,000 shares at ₹10 each, ₹3 on application, ₹4 on allotment, ₹3 on call.

What is forfeiture of shares? What are the journal entries for forfeiture and reissue?

What is the difference between shares and debentures?

Give journal entries for issue of 500 debentures of ₹100 each at 10% discount.

Prepare a Balance Sheet of a company from the given trial balance and adjustments.

Prepare a Comparative Balance Sheet from the given data.

What are the limitations of financial statement analysis?

Calculate the Current Ratio and Quick Ratio from the given balance sheet.

A company's gross profit is ₹2,00,000 and net sales are ₹8,00,000. Calculate the gross profit ratio.

Prepare a Cash Flow Statement from the given Balance Sheet and additional information.

What is the difference between cash flow from operating and investing activities?