FIRST TERM EXAM 2021-22

ACCOUNTANCY
Class : XII Mark : 40
Marking Scheme
Part – A
SECTION A
1. (b) old ratio
2. (b) Reserve Capital
3. (a) Calls-in Arrears A/c Debited
4. (b) Issuing fully paid bonus shares
5. (a) ₹ 8
6. (a) Distributed among the partners in old profit-sharing ratio
7. (C) do not contribute any capital and without having any interest in the business, lend
their name to the business
8. (c) 4 : 3 : 2 : 1
9. (C) ₹1,500
10. (c) Old Partners’. Capital Accounts
11. (D) P ₹42,000; Q ₹28,000; R ₹20,000;
12. (d) 1/10 (sacrifice)
13. (c) ₹ 1,00,000
14. (c) Called-up value of Shares
15. (d) None of these
16. (d) Paid-up Capital
17. (b) Goodwill
18. (C) On loan given by partners to the firm
Part – A
SECTION B
19. (d) 50,000
20. (d) ₹ 18,000
21. (a) 9 : 7 : 4
22. a) Both (A) and (R) are true and (R) is the correct explanation of (A)
23. (b) Cr. A by 4,000; Cr. B by 16,000; Dr C by 20,000
24. (A) ₹1,28,200
25. (A) ₹900
26. (d) Assertion (A) is true, but Reason (R) is false
27. (a) 90,000
28. (b) Liabilities
29. (A) ₹78,000
30. (b) Capital Reserve
31. (a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct
explanation of Assertion (A)
32. (C) Dr. X and Cr. Z by ₹8.000
33. (b) 3,60,000
34. (c) 1,500
35. (d) None of these
36. (b) Writing Off Losses of the Company
Part – A
SECTION - C

37. a. Issue against consideration other than cash

38. d. 50,000 shares
39. d) ₹ 1,500
40. d) No salary will be given
41. c) All the existing partners agree to admit him as a new partner.
PART – II
SECTION – A
42. (b) Long term Borrowings
43. (a) Proprietary ratio
44. (d) Profitability
45. (d) Activity, debt and profitability
46. (b) Horizontal Analysis
47. (c) 1 – ii, 2 – iv, 3 – iii, 4 – i
48. (d) Fixed Assets + Current Assets-Current Liabilities
PART – II
SECTION – B
49. A) 5 Times
50. B) 4 Times
51. (D) All three (a), (b), (c)
52. (a) Both (A) and (R) are true and (R) is the correct explanation of (A)
53. (b) Both (A) and (R) are true and (R) is not the correct explanation of A
54. (D) Only (ii) and (iii) are correct
55. (a) Non-Current Assets