CUET Accountancy 2022 15 July Shift 2 PYQs

Ram and Balram are partners in a firm sharing profit and losses in the ratio of 2:1. An extract of Balance Sheet as of 31st March 2022 | Liabilities | Rs. | Assets | Rs. | |---|---|---|---| | | | Furniture | 80,000 | If the value of above furniture is overvalued by $33\frac{1}{3}\%$, choose the value of furniture to be shown in the new Balance Sheet out of the following:

Which of the following transaction will increase Current Ratio but will decrease Debt Equity Ratio?

The term Financial Analysis includes

P, Q & R were partners sharing profit in the ratio 4:3:3. W was admitted to the partnership, bringing 1,00,000 capital and Rs. 24,000 as his share of Goodwill. Choose the correct entry for retaining of Goodwill brought in by W. W's share in profit was $\frac{1}{4}$th

Calculate manager's commission at 10% on Net profit, if the Divisible profit of a firm is Rs. 10,000, salary to partners is Rs. 3000 and Interest on drawings is Rs. 2000.

Identify a characteristics not applicable in partnership

When the fixed amount is withdrawn at the end of each quarter, interest on drawing will be calculated for _______

Match List I with List II | List I | List II | |---|---| | A. Intangible Assets | I. Provision for taxation | | B. Short term provision | II. Trade creditor | | C. Long term borrowings | III. 10% debentures | | D. Current liabilities | IV. Goodwill | Choose the correct answer from the options given below:

The ratios calculated to measure the short term commitments of business is

X and Y are partners in a firm sharing profits in the ratio of 4:1. Z is admitted in the firm for $\frac{1}{5}$ share. On the admission of Z there was a balance of Rs. 20,000 in general reserve. What would be the journal entry for distributing the reserve.

P, Q and R are partners sharing profits in the ratio of 3:1:1 S admits in the firm for $\frac{2}{10}$ share in the future. The sacrificing ratio would be

Financial Statements of a company does not include

Identify the item credited to Realisation Account in the event of dissolution of a partnership firm.

Identify the treatment of Government Grant received from the government from following:

Ram, Mohan and Roy are Partner in the ratio of 8:6:4 Ram retires, Mohan and Roy decided to share profits in the ratio of 10:6. Calculate gaining ratio.

Court may not order for dissolution of a partnership firm out of which of the following grounds:

Loss on issue of Debenture is a _______

Common Size Statement are also known as:

Identify the correct sequence or order of application of assets including any sum contributed by the partners, in case of dissolution of partnership firm to makeup deficiencies of capital. A. In paying each partner proportionately what is due to him form the firm for advances distinguished from capital B. In paying to each partner proportionately what is due to him on account of capital C. In paying the debts of the firm to the third parties D. The residue, if any, shall be divided among the partners in their profit sharing ratio Choose the correct answer from the options given below:

A, B and C are partners in a firm sharing profits in the ratio 7:4:4. B retires and on the day of his retirement Goodwill existed in the books at 30,000. B's Capital A/c will be debited by

Identify the Cash Outflow from Financing Activity

A firm is dissolved at the time of

Discount on Issue of Debentures A. Is not a capital gain B. Can be written off in any year C. Can be written off from securities premium Reserve D. Can be written off from General Reserve Choose the correct answer from the options given below:

Outstanding Salaries for the current year is shown A. In the Opening Balance Sheet, as an asset B. In the Closing Balance Sheet, as an asset C. In the Income and Expenditure A/c by adding to the expense 'salary' D. In the Closing Balance Sheet, as a liability Choose the correct answer form the options given below:

How will you show Bank overdraft while preparing the Income and Expenditure Account and Balance sheet of a club?

Lockers Rent Received during the year by a club is Rs. 17,050. Locker rent Rs. 3,050 outstanding for the previous year and Rs. 1500 outstanding for the current year. The amount to be shown in Income and Expenditure is :

Cash Advance and Loan made to third party (other than made by financial enterprise) is

From Coupon Rate Point of view, Debentures are classified into:

When the number of Debentures applied for is more than the number of debentures offered to public, the issue is said to be:

Show the following information in financial statements of a Non-Profit Organisation | Detail | Amount (Rs.) | |---|---| | Match Fund | 20,000 | | Match Expenses | 30,000 | | Donation for match fund | 15,000 | | Sale of match ticket | 5,000 |

Purchase of goodwill is considered in _______ activity while making Cash Flow Statement.

Interest paid on debentures by a manufacturing company would be

Match List I with List II | List I | List II | |---|---| | A. Operating Activities | I. Issue of shares | | B. Investing Activities | II. Bank Balance | | C. Financing Activities | III. Sale and purchase of goods and services | | D. Cash and cash equivalent | IV. Buying of fixed assets | Choose the correct answer from the options given below:

A, B and C are partners sharing profits in the ratio of 2:3:1. B retries, then new profit sharing ratio between A and C will be

Calculate the amount of subscription to be shown in Income and expenditure A/C for the year ending 31st March 2022 Subscription received during the year 2021-22 Rs. 100,000 Outstanding subscription for the year 2020-21 Rs. 10000 Outstanding subscription for the year 2021-22 Rs. 20000 Subscription received in advance in 2020-21 Rs. 5000 Subscription received in advance in 2021-22 Rs. 4000

All assets (except Cash/Bank and fictitious assets) are transferred to the _______ side of _______ account.

In which cell is the rate for PMT function where = PMT (C8, C9, C10, C11, C12)

Which view shows margins and the rulers?

The term 'Field is applied to data base' table means:

Which key combination collapse the ribbon?