CUET Accountancy 2025 PYQs2 June Shift 2. Free, no login required.

Calls in arrears are shown in the balance sheet as.

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R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.

Section 49, of the Indian Partnership Act 1932, deals with

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A share of Rs.10. Issued at a premium of Rs.3. On which Rs.3 was payable on application and Rs.5 was payable on allotment including premium. A shareholder who had applied for 100 shares was Allotted Only 50 Shares and due to non payment of allotment his shares were forfeited. In this case the amount to be debited to securities premium A/c on forfeiture of these shares are

In case of Fixed Capital Account, Interest on Drawings are

The order to be followed in preparation of realization account is.

(A) Realization of the assets.

(B) Transfer assets and liabilities to realization account.

(C) Ascertainment of profit or loss on realization.

(D) Payment of liabilities.

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In what condition the amount is shown under the head of 'Subscribed and Fully Paid up Share Capital' in Balance Sheet of a Company-

Rent payable to partner is .

Unrecorded Debtors, are realised at the time of dissolution of a Partnership Firm, will be shown in:

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A share of Rs. 10 on which Rs.8 was called up was forfeited for non-payment of Rs.5. This share can be reissued at a minimum price of Rs.

In the absence of partnership deed, interest on drawings is charged at.

When realisation expenses are paid by the Partner on behalf of a Firm, which account will be credited:

A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a partner for 1/3 share, the sacrificing ratio between A and B is

For the right to get a share in future profits of a partnership firm, a newly admitted partner will have to bring :-

Issue of Rs. 1,00,000, 9% debentures of Rs. 100 each at discount of 15% but redeemable at premium of 5%, the amount debited to loss on issue of debenture account is.

Debenture suspense is shown in the balance sheet as

When the date of drawing is not specified, interest on drawings are calculated for

The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be....... .

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Arrange the following events in proper order.

(A) Transfer to capital reserve.

(B) Forfeiture of share.

(C) Calls in arrears.

(D) Re issue of share.

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On the happening of certain contingencies, Subject to contract between the partners, a firm is dissolved ,

(A) if constituted for a fixed term, by the expiry of that term.

(B) if constituted to carry out one or more ventures, by the completion thereof.

(C) by the death of a partner

(D) by the adjudication of a partner as an insolvent

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Which is the correct statement, in respect of the Revaluation Account :-

Identify the correct statement from the given below :-

An unrecorded asset is taken over by a creditor in full settlement in such a case

The liability of partners is

Which accounting standard is applicable for recognizing Intangible assets?

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Anubha looked after the dissolution work for remuneration of Rs. 8,500 and agreed to bear dissolution expenses upto Rs. 6,000. Actual expenses paid by her were Rs. 7,600. What will be the journal entry for remuneration payable to Anubha?

(A) Realisation A/c is debited by 8,500

(B) Anubha's Capital A/c is credited by 8,500.

(C) Realisation A/c is debited by13,600.

(D) Anubha's Capital is credited by13,600.

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As per AS-26 assets like goodwill should be written off .

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5:3:2. Tarun retires from the firm and his share was taken over by Naveen and suresh in the ratio 2:1. In such a case, the new share of profit will be .

Reserve capital is

When the capital accounts are fixed, additional capital introduced by the partner is.

On dissolution of a firm, the amount of loan taken from partner by firm will be transferred to

Discount on issue of 8% debentures is shown in the balance sheet as

Securities premium can be utilized for

(A) Writing of preliminary expenses.

(B) Issue of bonus share.

(C) Payment of dividends.

(D) Buy back of shares.

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At the time of admission of partner ,Workmen Compensation Claim Exceeding Workmen Compensation Fund is transferred to

Abhiram and Ragini are partners sharing profits in the ratio of 3:2. They admit Arun a new partner for 1/5th share in the future profits of the firm which he gets equally from Abhiram and Ragini. Calculate the new profit sharing ratio of Abhiram, Ragini and Arun.

In the case of guarantee of profit ,the sequence of Steps to be followed are.

(A) divide the profit in the given ratio.

(B) prepare profit and loss appropriation account as usual.

(C) deduct the deficiency from guaranteeing partner and add the same to guaranteed partner.

(D) find the deficiency.

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In the case of under subscription of shares.

Reconstitution of partnership does not involves

Which of the following statements are true with reference to a "company"?

(A) The directors of the company are the owners of the company.

(B) A company is an artificial person.

(C) A company has its common seal.

(D) The liability of the members of the company is limited to the extent of shares held by them

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Operating expense ratio is

The main advantage of ratio analysis is.

Cash received from the issue of debenture for a trading organization is.

Goods costing Rs.80,000/- were sold at a profit of 20% on sales. the amount of gross profit on this sales is.

Cash Inflows from Financing Activities does not include-

Which function returns the cumulative interest paid between two periods?

Which function is used to remove spaces before and after the text?

Intersection of row and column is referred as _______?

Which of the following is not a sub-system of Accounting Information System?

_______ is a dialog box that displays one complete record at a time and can be used to add, change, locate, and delete records.