CUET Accountancy 2022 PYQs23 Aug Shift 2. Free, no login required.

On dissolution of a firm, bank overdraft is transferred to :

Rearrange the following items in a sequence while preparing common size statement.

(A) Calculate percentage of the total as per common base

(B) Prepare the format of Balance sheet and Profit and Loss A/c

(C) List out absolute figures in rupees at two points of time

(D) Choose a common base

Choose the correct answer from the options given below :

All of them are shown under the sub-heading 'Reserve and Surplus' except :

An issue of shares made by the company to the public in general for subscription is called :

Forfeiture of shares results in the reduction of :

Which of the following is not included in Non-current liabilities, while preparing a Balance Sheet of a company :

Which among the following are sources of cash inflow from Investing Activities ?

(A) Dividend Received from investment

(B) Cash Receipt from Disposal of shares

(C) Cash Receipt from Disposal of Fixed Assets

(D) Cash proceeds from issuing Shares and Debentures

Choose the correct answer from the options given below :

If there is Revenue from Operation Rs. 1,20,000 and gross profit is 20% of cost, then the amount of gross profit will be :

The ideal Debt Equity Ratio is :

A, B and C are partner's sharing profits and losses in the ratio of $\frac{3}{8} : \frac{1}{2} : \frac{1}{8}$.

If A dies, then the new ratio of B and C will be :

Which among the following items appear in the Receipt and Payment Account ?

(A) Life membership fees

(B) Depreciation of fixed assets

(C) Provision of doubtful debts

(D) Profit/loss on sale of fixed assets

Choose the correct answer from the options given below :

Match List - I with List - II.

Choose the correct answer from the options given below :

From the following information of X Ltd, calculate Cash Flow from Financing Activities.

During the year, the company repaid a loan of Rs. 1,00,000. Long-term loan carried interest rate of 10%. The loan was repaid on 1st April 2021 and a fresh loan was taken on 31st March 2022.

Securities Premium Reserve as per section 52(2) of the companies Act 2013 can be used :

(A) To write-off preliminary expenses of the company

(B) To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company

(C) To pay premium on the redemption of preference shares or debentures

(D) To write off discount allowed on the goods sold on credit

Choose the correct answer from the options given below :

Uncalled capital that can be called up only in event of winding up of the company is called :

For calculating EPS, the following order will be followed.

(A) Calculate number of equity shares

(B) Calculate earning available for equity share holders

(C) Compute profit after tax

(D) Compute EPS

Choose the correct answer from the options given below :

On 1st April 2022, A, B and C decided to dissolve their firm On the date of dissolution, Sundry debtors appeared in Balance Sheet at Rs. 6,00,000 and Provision for doubtful debt at Rs. 30,000 Debtors to extent of Rs. 60,000 were bad. In journal entry for realisation of debtors.

Match List - I with List - II.

Choose the correct answer from the options given below :

Nitin Ltd. provides you the following information.

During the year, a machine costing Rs. 90,000 with accumulated depreciation of Rs. 31,500 was sold for Rs. 52,000.

Calculate Cash Flow from Investing Activities on the basis of the above information.

Identify the correct sequence in calculation of Cash Flow from Operating Activities.

(A) Addition and subtraction of Non cash/Non operating items

(B) Payment of income tax

(C) Calculation of operating profit before working capital changes.

(D) Calculation of net profit/loss before tax and extraordinary items

Choose the correct answer from the options given below :

Match List - I with List - II.

Choose the correct answer from the options given below :

If a share of Rs. 10 on which Rs. 7 has been paid is forfeited, at what minimum price can it be reissued ?

Calculate net profit as per P & L A/c for the year ending 31 March, 2022 from the following information :

share of profit transferred to Capital A/c's of partners :

Ram Rs. 7,000

Shyam Rs. 3,500

Interest on capital :

Ram Rs. 1,500

Shyam Rs. 500

Interest on Drawings :

Ram Rs. 300

Shyam Rs. 200

Ram's salary Rs. 1,000

M and R are partners sharing profits and losses in the ratio of 3 : 2. Their capital A/c's showed the balance of Rs. 4,00,000 and Rs. 3,00,000 respectively on 1 April, 2021. M introduced additional capital on 1 August, 2021. Interest on capital is allowed @ 6% p.a. Total interest on capital of both the partners is Rs. 50,000.

Calculate additional capital introduced by M on 1 August, 2021 and interest on capital earned on additional capital. Books are closed on 31 March.

Match List - I with List - II.

Choose the correct answer from the options given below :

Value of 12% government securities as at 31 March 2021 was Rs. 85,000 which were purchased at that date at par. Additional 12% securities worth Rs. 50,000 were purchased on 31 March, 2022. Total interest debited to receipts and payments A/c during the year on the above securities is Rs. 9,000 calculate Accrued interest on 31 March, 2022.

From the following information calculate how much amount of depreciation will be shown in the Income and Expenditure A/c for the year 2021-22 :

Furniture worth Rs. 8,000 was sold for Rs. 10,000 on 1 April, 2021.

Calculate subscription received during the year 2021-22 from the following information :

Amount of subscription credited to Income and Expenditure A/c for the year ended 2021-22 Rs. 1,05,000

Subscription received in advances as on 31 March, 2022 Rs. 10,000

Subscription received in advances as on 31 March, 2021 Rs. 7000

Subscription outstanding as on 31 March, 2021 Rs. 10,500

Subscription outstanding as on 31 March, 2022 Rs. 20,500

Calculate prize fund expenses incurred during the year 2021-22 from the following information

Prize fund as on 1 April, 2021 Rs. 80,000

Donation received for Prize Fund Rs. 15,000

10% Prize Fund Investment Rs. 80,000

Interest Received Rs. 5,000

Interest Accrued Rs. 3,000

Prize fund as on 31 March, 2022 Rs. 70,000

Sudhir and Vimal came into partnership with profit sharing ratio of 3 : 2. Due to paucity of time, Sudhir was unable to give time to business so Vimal acted as principle and took all financial and operational decisions.

Due to break down of Covid 19, business suffered a loss of 4,00,000. State the amount of loss to be borne by Sudhir.

Gitansh withdrew Rs. 5000 pm at the end of every month for ten months. Interest on drawing is charged @ 10% p.a. Gitansh's interest on drawings is :

Match List - I with List - II.

Choose the correct answer from the options given below :

Identify the methods of Redemption of Debenture from the following.

(A) By conversion into shares or new debenture

(B) Purchase in open market

(C) Sinking fund

(D) Payment in instalments

(E) Payment in lump-sum

Choose the correct answer from the options given below :

The central government has prescribed the maximum number of partners in a firm to be _________ under Rule 10 of the companies (Miscellaneous) Rules, 2014.

Which of the following statement is true ?

The commonly used Techniques of financial Statements Analysis includes :

(A) Common size statements

(B) Ratio Analysis

(C) Trend Analysis

(D) Capital Budgeting Statement

Choose the correct answer from the options given below :

Modern Accounting is based on :

"A system of letter or figure with arbitrary meaning for brevity and for machine processing of information".

Above statement refers to the term :

A _________ is a special key word which can be entered into a cell in order to perform and process the data which is appended within brackets.

The CAS should be :