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

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Latest for students online. All these are just samples for prepration for exams only. These are not actual papers.

Accounts Class - XII (CBSE)
You are on Set no 1 Qno. 10 to 18

Q10) Give any three points of distinction between "Funds Flow Statement" and "Cash Flow Statement".

Q11) The following is the position of the current assets and current liabilities of Z Ltd.:
........................................................

	1995 Rs.	1996 Rs.
Provision for Bad Debts. Short term loan Creditors Bill Receivable	1,000 10,000 15,000 20,000	- 19,000 10,000 40,000

The company incurred a loss of Rs. 45,000 during the year. Calculate cash from operations.

Q12) How does ratio analysis become less effective due to price level changes? (Marks 4)

Q13) A Company has a loan of Rs. 20,00,000 as part of its Capital employed. The interest payable on the loan is 15% and the ROI of the company is 25%. The rate of income tax is 40%. What is the gain to the share-holder due to loan raised by the company? (Marks 5)

Q14) Following are the Balance Sheets of Radha Ltd. as on 31.12.1995 and 31.12.1996.

Liabilities

1995
(Rs.)

1996
(Rs.)

Assets

1995
(Rs.)

1996
(Rs.)

Share Capital
Reserves
Loan
Current Liabilities

10,00,000
10,00,000
2,00,000
3,00,000
25,00,000

15,00,000
10,00,000
8,00,000
5,00,000
38,00,000

Fixed Assets
CurrentAssets

20,00,000
5,00,000

________
25,00,000

30,00,000
8,00,000

________
38,00,000

You are required to prepare a comparative Balance Sheet on the basis of the information given in the above Balance Sheets. (Marks 5)

Q15) "Analysis of Financial Statement is affected by window dressing and the personal ability of the analyst." Comment. (Marks 6)

Q16) The following are the summarised profit and loss A/c of Hindustan Products for the year ended 31.12.1996 and the Balance Sheet of the Company as on that date:

PROFIT AND LOSS ACCOUNT

	Rs.		Rs.
Opening Stock Purchases Direct Expenses Gross Profit	99,000 5,45,000 15,000 3,40,000 9,99,000	Sales Closing Stock	8,00,000 1,99,000 _______ 9,99,000
Selling and Distribution Expenses Loss on sale of assets Net Profit	2,40,000 40,000 60,000 3,40,000	Gross Profit	3,40,000 ________ 3,40,000

BALANCE SHEET


Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Equity Share Capital Profit and Loss Account Creditors Outstanding Expenses	2,90,000 60,000 1,15,000 15,000 4,80,000	Land Stock Debtors Cash	2,30,000 1,99,000 21,000 30,000 4,80,000

Calculate the following ratios :
(i) Quick Ratio (ii) Stock Turnover Ratio and (iii) Return on Shareholders Investments

Q17) From the following information prepare Cash Budget for the month of April, May and June, 1997.

Month	Sales (Rs.)	Purchase (Rs.)	Wages (Rs.)
February March April May June	30,000 40,000 36,000 45,000 50,000	15,000 22,000 30,000 37,000 30,000	4,000 5,000 6,000 7,000 8,000

Additional information :
(i) Expected cash balance as on 31.3.1997 Rs. 17,000.
(ii) Period of credit allowed to customers is one month and that allowed by suppliers is two months.
(iii) Lag in payment of wages is one month

Q18) Prepare a Funds Flow Statement from the following Balance Sheets of Modern Garments Ltd.

Liabilities	31.12.96 Rs.	1.1.96 Rs.	Assets	31.12.96 Rs.	1.1.96 Rs.
Share Capital 12% Debentures General Reserve P and L A/c Provision for taxation Creditors Outstanding Expenses Bank Overdraft	2,80,000 - 1,25,000 67,000 30,000 83,000 10,000 40,000 6,35,000	2,50,000 30,000 1,00,000 40,000 22,000 1,76,000 - 70,000 6,88,000	Goodwill Land and Building Plant and Machinery Investments Stock Debtors Preliminary Expense Cash	42,000 50,000 3,15,000 30,000 80,000 1,00,000 - 18,000 6,35,000	60,000 2,00,000 1,50,000 62,000 1,20,000 66,000 20,000 10,000 6,88,000

Additional Information : Depreciation charged on plant and machinery during the year was Rs. 40,000 (Marks 12)

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