CBSE Set Q1 Accounts Sample Test Papers For Class 12th for students online

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Accounts Class - XII (CBSE) 
You are on Set no 1 Qno. 10 to 17

Q10) What is meant by 'Analysis of Financial Statements'? Give its advantages. (Marks 6)

Q11) State the significance and method of calculation of any two of the following :
(i) Current ratio              (ii) Operating ratio
(iii) Return on investment. (Marks 6)

Q12) From the following details, calculate (i) Opening stock, (ii) Closing stock:
Stock turnover ratio 6 times.
Gross profit 20% on sales.
Sales Rs. 1,80,000.
Closing Stock is Rs. 15,000 in excess of opening stock. (Marks 3)

Q13) On the basis of following information, calculate
(i) Gross profit ratio, (ii) Working capital turnover ratio, (iii) Debt equity ratio. (Marks 6)


Net sales
Cost of goods Sold
Current assets
Current Liabilities
Paid-up share Capital
Debentures
Loan

Rs.
30,00,000
20,00,000
6,00,000
2,00,000
5,00,000
2,50,000
1,25,000

 

Q14) From the following Balance Sheet of Avinash Ltd., you are required to prepare.
(i) A statement of changes in working capital and (ii) Funds flow statemen
t.

BALANCE SHEET

 

31.12.1994
Rs.

3.12.1995
Rs.

ASSETS
Fixed Assets
Less: Accumulated Depreciation

Investments
Stock
Debtors
Cash

LIABILITIES
Equity Share Capital
General Reserve
Bank Loan
Creditors
Bank Overdraft
Proposed Dividend


4,00,000
   80,000
3,20,000
   80,000
2,00,000
2,10,000
   30,000
8,40,000


3,00,000
  85,000
1,00,000
3,10,000
----
  45,000
8,40,000


5,50,000
1,35,000
4,15,000
1,10,000
2,25,000
1,80,000
   10,000
9,40,000

4,00,000
1,10,000
   75,000
2,90,000
    5,000
   60,000
9,40,000

 

Additional information :
A piece of machinery costing Rs. 50,000 was sold for Rs. 30,000, accumulated depreciation thereon being Rs. 10,000. (Marks 13)

Q15) Calculate 'Cash from Operations' from the following profit and loss Account.

Profit and Loss Account for the year ending on 31st March, 1995

 

Particulars

    Rs.

 

Particulars

   Rs.

Salaries
Rent
Provision for Bad Debts
Depreciation
Loss on Sale of Land
Goodwill written off
Proposed dividend
Provision for Taxation
Net Profit

18,000
10,000
  2,000
  4,000
  3,000
  5,000
  7,000
  4,000
25,000
78,000

 

Gross Profit
Profit on Sale of Plant
Income Tax Refund

65,000
  7,000
  6,000





______
78,000

 

r

Q16) What is Cash Budget? Give its advantages.
OR
Prepare a Cash Budget for the month of May and June using following information :

Months

Sales

Purchases

Wages

April
May
June

62,000
64,000
58,000

38,000
33,000
39,000

  8,000
10,000
  8,500

(i) Cash Balance as on 1st May, 1995 was Rs. 8,000.
(ii) 75% of the sales are realised in the same month and rest in the following month.
(iii) Period of Credit from supplier is one month.
(iv) Lag in payment of wages is one month. (Marks 6)

Q17) From the following information, prepare a Comparative Income Statement: (Marks 5)



Sales
Cost of Goods Sold
Administrative, Selling and Distribution Expenses
Other Incomes
Income Tax 
1994
Rs.
4,00,000
2,00,000
40,000
20,000
60,000
1995
Rs.
5,00,000
3,00,000
1,00,000
30,000
70,000

 

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