Wednesday, March 7, 2018

HSC ACCOUNTS MARCH 2018 BOARD QUESTION PAPER

HSC ACCOUNTS MARCH 2018 BOARD QUESTION PAPER

Q 1. A. Answer:

  • Trial Balance is a list of all debit and credit balances of ledger accounts.
  • Entrance fees is the fees paid by the person who intends to become members of ‘not for profit concern’.
  • Qualified acceptance is a type of acceptance in which drawee makes changes in the conditions mentioned in the bill.
  • Gain ratio is required to be calculated in case of retirement of partner, when goodwill is raised equal to share of retiring partner and written off.
  • Gross Profit Ratio =
    Gross Profit Net Sales
    × 100

Q 1. B. Answers:

  • (1) Unrecorded assets
  • (2) Capital
  • (3) Endorsee
  • (4) Gain ratio
  • (5) Single Entry System

HSC Accounts Board Papers with Solution

Q 1. C. Answers:

  • (1) Debited
  • (2) 25th January, 2017
  • (3) Statement of Affairs.
  • (4) Realization Account.
  • (5) Purchases.

Q 1. D. Answers.

  • (1) False.
  • (2) True
  • (3) True
  • (4) True
  • (5) True
HSC Accounts March 2018 Question Paper - Page 4 (Q2 Single Entry)

Q. 2. Single Entry Solution:

View Solution

Q. 3. Admission of Partner Solution:

View Solution

Q. 3. Death of a partner Solution:

View Solution

Q. 4. Bills of Exchange Solution:

View Solution

Q. 5. Dissolution Solution:

View Solution

OR

Q. 5. Issue of Equity Shares Solution:

View Solution

Q. 6. NPO Solution:

View Solution

Q. 7. FINAL ACCOUNT SOLUTION:

View Solution

HSC Accounts March 2018 Question Paper - Page 1 HSC Accounts March 2018 Question Paper - Page 2 HSC Accounts March 2018 Question Paper - Page 3 HSC Accounts March 2018 Question Paper - Page 5 (Q3 Admission/Retirement) HSC Accounts March 2018 Question Paper - Page 6 (Q3 Death / Q4 Bills - Part 1) HSC Accounts March 2018 Question Paper - Page 6 (Q3 Death / Q4 Bills - Part 2) HSC Accounts March 2018 Question Paper - Page 7 (Q4 Bills of Exchange) HSC Accounts March 2018 Question Paper - Page 8 (Q5 Dissolution/Issue of Shares) HSC Accounts March 2018 Question Paper - Page 9 (Q6 NPO) HSC Accounts March 2018 Question Paper - Page 10 (Q7 Final Accounts - Part 1) HSC Accounts March 2018 Question Paper - Page 10 (Q7 Final Accounts - Part 2)

Book-keeping and Accountancy 12th Standard

HSC Maharashtra State Board. Latest Syllabus.

ACCOUNTS BOARD PAPERS

Difficult Words & Meanings:

Trial Balance: A statement showing the balances of all ledger accounts to check arithmetic accuracy.

Ledger Accounts: The main book of accounts where transactions are recorded under specific headings.

Debit: An entry on the left side of an account, typically representing an increase in assets/expenses or a decrease in liability/equity/income.

Credit: An entry on the right side of an account, typically representing a decrease in assets/expenses or an increase in liability/equity/income.

Entrance Fees: A fee paid by new members to join an organization, especially a 'not-for-profit concern'.

Not for Profit Concern (NPO): An organization that operates for a social cause, not to make profit (e.g., charities, clubs).

Qualified Acceptance: When the drawee (person asked to pay a bill) agrees to pay but with some changes to the bill's original terms.

Drawee: The person or entity directed by a drawer (writer of the bill) to pay a specified sum of money on a bill of exchange.

Gain Ratio: A ratio used in partnership accounting, especially during a partner's retirement or death, to determine how remaining partners will share the outgoing partner's portion of profits or goodwill.

Goodwill: The intangible value of a business based on its reputation, customer base, etc., beyond its tangible assets.

Endorsee: The person to whom a bill of exchange or promissory note is transferred (endorsed).

Single Entry System: A simple bookkeeping method that records only cash and personal accounts, not using the double-entry principle.

Statement of Affairs: A summary of assets and liabilities, similar to a balance sheet, often prepared in single entry systems or insolvency cases.

Realization Account: An account prepared during the dissolution (closing down) of a partnership firm to record the sale of assets and payment of liabilities.

Reconstitution of Partnership: Any change in the existing agreement between partners, such as admission, retirement, or death of a partner.

Dissolution of Partnership Firm: The process of closing down a partnership business entirely.

Equity Shares: Shares that represent ownership in a company and give shareholders voting rights.

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50 comments:

  1. Unknown10 February, 2019 14:30

    How closing stock became 70,000

    ReplyDelete
    Replies
    1. Anonymous12 February, 2019 13:21

      same doubt

      Delete
    2. Ankita Thakare12 February, 2019 23:48

      Market prices =84000=20%
      Cost price = ???=100%
      100×84000
      ------ = 70000
      120

      Delete
    3. Unknown27 February, 2019 22:20

      YEAH RIGHT

      Delete
    4. Unknown26 September, 2019 11:57

      84000x120÷100=70000

      Delete
    5. MokoCkFOREVER16 October, 2019 17:44

      84,000
      _______ × 100 =70,000
      120

      Delete
    6. Unknown30 January, 2020 10:39

      84000×100÷120 =70000 this is the correct solution of calculating closing stock

      Delete
  2. Unknown12 February, 2019 19:30

    Same doubt

    ReplyDelete
    Replies
    1. Unknown13 February, 2019 02:06

      100×84000/120
      =70000

      Delete
    2. Unknown02 March, 2019 20:43

      84000×100
      ______
      120

      Delete
    3. Unknown06 March, 2019 07:55

      Closing stock price is 20% higher than the original cost so 84000x120
      _____
      100

      Delete
  3. Abigail21 February, 2019 15:02

    Market price of ₹.84000 (20%) depricate
    100+20=120
    84000×100÷12 = 70000 (closing stock)

    ReplyDelete
  4. Unknown23 February, 2019 08:54

    How we got the amount of depreciation of machinery And what should we do of the second adjustment machinery??

    ReplyDelete
    Replies
    1. Unknown24 February, 2019 16:58

      Machinery is given 90000.But in adjustment it is given that machinery includes purchase of machinery for Rs.40000 on 1st January,2016.
      So,in the asset side you have to show,
      Machinery=50000
      (+) Purchase =40000
      Therefore, 50000*10/100 + 40000*3/12*10/100.

      Delete
    2. Unknown12 January, 2020 19:21

      Nice thx nice thanks

      Delete
  5. Unknown28 February, 2019 22:43

    I didn't understood the machinery's Adjustment

    ReplyDelete
    Replies
    1. Unknown02 March, 2019 20:58

      Machinery adjustment mein kya diya hai Machinery include purachase of machinery for ₹40000 on 1st jan 2016.. jo new machinery purchase kiye the 1st jan ko woh machinery me include hua hai toh phir old machinery 50000 pe pure saal ka nikalenge aur new machinery 40000 pe 3 mahine ka nikalenge 1st jan 2016 ke hisaab se

      Delete
    2. Unknown29 February, 2020 19:23

      So jao fir

      Delete
  6. Naina00701 March, 2019 13:33

    I didn't understood the salaries adjustment . How 3600 came?

    ReplyDelete
    Replies
    1. Unknown02 March, 2019 20:32

      18000 10 month ka hai toh 2 mahina o/s hai 18000 ko 10 se divide karke ek mahine ka nikalke fir usko 2 mahine ka
      kardenge aaajayega 3600 o/s

      Delete
    2. Unknown05 March, 2019 19:12

      Thank you ..for this adjustment... Its really helpful for us

      Delete
    3. Unknown29 February, 2020 19:45

      See first you depreciation on half yrr amount 50000into 10and divided by 100.than you get answers 5000

      And second think is 40000into 3and divided by 12 than you get answers 1000 the total is 6000 fine

      Delete
  7. Naina00701 March, 2019 13:34

    This comment has been removed by the author.

    ReplyDelete
  8. Unknown02 March, 2019 15:57

    Sir 5 adj. me machinery 40000 purchase se less hogi and asset me machinery add hogi ??

    ReplyDelete
    Replies
    1. Unknown02 March, 2019 20:40

      Nhi.....5th adjustment mein kya diya machinery includes purchase of machinery for ₹40000 on 1jan 2016 .....machinery jo prchase kiye the 1stjan ko woh include ho chuki hai toh old machinery 50000 pe pure year ka depriciate karenge aur jo new machinery hai 40000 ki uspe 3 month ka depriciate karna hai

      Delete
    2. Unknown29 February, 2020 10:30

      Hai tho per

      Delete
  9. Unknown02 March, 2019 17:21

    How is goodwill calculated in the sum of admission

    ReplyDelete
    Replies
    1. Unknown03 March, 2019 12:41

      144000/- Is a goodwill of total firm. The new partner is admitted for 1/4th share...so
      144000/4
      =36000
      36000/3 (Old partners ratio)
      =12000/-
      Thus, 12000×2= meena
      12000/- heena

      Delete
  10. Unknown03 March, 2019 12:23

    How the goodwill is calculated ?

    ReplyDelete
  11. Anonymous03 March, 2019 13:13

    What will be the 1st and 2nd effect in machinery aaj

    ReplyDelete
  12. Unknown04 March, 2019 18:33

    8%Debentureka effect kha hoga or kese calculated krege

    ReplyDelete
    Replies
    1. Harshad Kamble06 March, 2019 05:41

      Second wala effect P and L A/c Main hoga
      Aur usse calculate main hame 8 % dentures main add karne hoge

      Delete
  13. Unknown05 March, 2019 02:07

    You guys did the best work for us jai omtex classes

    ReplyDelete
  14. Unknown05 March, 2019 14:50

    How is current account amount camed

    ReplyDelete
    Replies
    1. Unknown09 February, 2020 12:55

      If current account is given then we have to directly write our capital balance to libality side and after it.after closing partner current account you have to write result value as current amount on libality side.

      Delete
  15. BRIGHT SMILE05 March, 2019 18:55

    How machinery became 6000???

    ReplyDelete
  16. Unknown05 March, 2019 22:53

    144000÷4=36000
    2-24000
    1-12000

    ReplyDelete
  17. Unknown06 March, 2019 00:39

    Joint ????

    ReplyDelete
  18. Nobody09 March, 2019 17:31

    MCQ. 1ST ONE IS CRADIT

    ReplyDelete
  19. Unknown20 May, 2019 12:44

    how come machinery deprication came 6000 it must 9000 and how to do 5 adjustment

    ReplyDelete
  20. SurajFX24 June, 2019 20:27

    closing stock is 84000 as given , if 35% given what answer would be?

    ReplyDelete
  21. Unknown18 October, 2019 15:00

    I am not understanding last adjustment

    ReplyDelete
  22. Unknown17 November, 2019 14:52

    Agar telly nhi krenge toh kitna marks cut hoga ???

    ReplyDelete
  23. Unknown29 February, 2020 19:57

    Hii sir

    ReplyDelete
  24. Unknown29 February, 2020 19:58

    One given answer plzz tell me

    ReplyDelete
  25. Unknown29 February, 2020 21:01

    Thanks i have solved without any of the solution there was calculations mistake which Nedd to come here

    ReplyDelete
  26. Unknown01 March, 2020 20:05

    In single entry ( depreciation on machinery on 30,000 for 6 months) what a answer and how calculate this ???

    ReplyDelete

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