HSC ACCOUNTS JULY 2018 BOARD QUESTION PAPER

Q 1. A. Answer:

1. Gross profit is transferred to Profit and Loss Account.

2. The account which shows change in the values of assets and liabilities during the admission, retirement or death of a partner is known as Revaluation Account.

3. Issue of shares at a premium means the issue of shares by a company at a price higher than the face value of the shares. (The difference between the issue price, i.e., the price at which the shares are issued, and the face value of the shares is called share premium) for example, when shares of the face value of Rs.10 each are issued at a price of Rs.12 per share, the shares are said to be issued at a premium.

4. The date on which the bill become due for payment is known as the due date of the bill.

5. Cash book and personal accounts are maintained under this method.

B. Answers:

(1) Capital

(2) Drawer

(3) Convertible Debentures.

(4) Grace Days.

(5) Liquid assets.

ACCOUNTS BOARD PAPERS

HSC Accounts Board Papers with Solution

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(C) Answers:

(1) Machinery

(2) all partners

(3) Old Partners.

(4) Three.

(5) Statement of Affairs.

(D) Answers.

(1) True.

(2) False. [Cash is not transferred to Realization A/c ]

(3) True

(4) False

(5) True

Practical Problems Solutions

Q. 2. Single Entry Solution:
For Solution Click Here

Q. 3. Admission of Partner:
Solution Click Here

Q. 4. Bills of Exchange Solution: Click here to get the Solution.
[ For Solution Click Here ]

Q. 5. Dissolution Solution:
Click Here for Answer

Q. 6. NPO Solution:
Click Here

Q. 7. Final Accounts Solution:
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Book-keeping and Accountancy 12th Standard
HSC Maharashtra State Board. Latest Syllabus.

Chapter 1: Introduction to Partnership and Partnership Final Accounts Chapter 2: Accounts of ‘Not for Profit’ Concerns Chapter 3: Reconstitution of Partnership (Admission of Partner) Chapter 4: Reconstitution of Partnership (Retirement of Partner) Chapter 5: Reconstitution of Partnership (Death of Partner) Chapter 6: Dissolution of Partnership Firm Chapter 7: Bills of Exchange Chapter 8: Company Accounts - Issue of Shares Chapter 9: Analysis of Financial Statements Chapter 10: Computer In Accounting