NAME OF THE STUDENT……………………………………………DIV……ROLL NO...........

SUPERVISOR’S SIGN:
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Deccan Education Society’s MARKS
BRIHAN MAHARASHTRA COLLEGE OF COMMERCE, PUNE. OBTAINED------------
APPLICATION BASED TEST (2020-21)
DATE: - /03/2021 BOOK-KEEPING AND ACCOUNTANCY STD XII
TIME: - 1 HOUR MARKS-20

Q.1. (A) State True or False with reasons [5] marks

1) Charitable Institutions prepare Profit and Loss Account at the end of every financial year.
Ans: -…………
Reason…………………………………………………………………………………………
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2) Income received in advance is a liability.

Ans: -………….
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(B) Select the correct option from the following. [5] marks
1) A debit balance of partner’s current account will appear on the …………………… side of the
Balance Sheet.
a) Assets b) Liabilities c) Debit d) Credit
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2) For a public hospital, expenditure on the purchase of medicines is a….…………Expenditure.
a) General b) Non-recurring c) Capital d) Revenue

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3) If the asset is taken over by the partner …………………. Account is debited.

a) Revaluation b) Capital c) Assets d) Balance Sheet
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4) A bill drawn on 12th June 2020 at two months would be payable on…………………...
a) 12th August 2020 b) 15th August 2020 c) 13th August 2020 d) 16th August 2020
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5) The balance of Share Forfeiture A/c is transferred to ………………………..Account after re-

issue of these share.
a) Reserve Capital b) Capital Reserve c) Profit & Loss d) Share Capital
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(C) Calculate the following [5] marks

1) Rent is paid for the year ending 1st September 2019 amounted to ₹ 3600. Calculate prepaid
insurance assuming that the year ending is 31st March 2019.

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2) Opening stock of stationery ₹ 10000, Purchases of stationery ₹ 14000, Outstanding
Stationery Bill ₹ 24000, Closing Stock of stationery ₹ 2000. What is the amount of
stationery consumed?
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3) Anita who had accepted Sunita’s bill for ₹ 45000 was declared bankrupt and only 30 paise
in a rupee could be recovered from her estate. Calculate the amount of Bad debts.
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4) 10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of
share premium.

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5) A,B and C are sharing 1/2 , 3/10 , and 1/5 if A Retired then What is the new ratio of B and
C?
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Q.2. Prepare a Specimen of ‘Bill of Exchange’ from the following details. [5] marks
1) Drawer:- Rekha Pradhan, Orange city, Andheri west.
2) Drawee:- Pravin Parekh, Castel road, Santacruz west
3) Amount : ₹ 20200
4) Period : 2 months
5) Date of Bill: 5th November 2019
6) Accepted for : 19500 on 6th November 2019.