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 statement.

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

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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