Question

what are the practical viva questions are asked for accountancy 12th board exams?

Answer 1

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Here are some Questions :

Q- (a) Interest on capital @ 12% p.a. 
(b) Interest on drawings @ 18% p.a.Shiv withdrew Rs. 12,000 on 30th June, 2009 and Shanker withdrew Rs. 18,000 on 30th September 2009. The profit for the year ended 31st March, 2010 was Rs. 97,000, which was distributed among the partners without providing for the above adjustments. Pass the adjustment entry.Ans.: Dr. Shiv’s Current A/c and Cr. Shanker’s Current A/c by Rs. 6,636

Q- X and Y are partners in a firm. Their respective capital contributions are Rs. 3,00,000 and Rs. 1,50,000 and their profit sharing ratio is 3:2. Immediately after the allocation of Rs. 75,000 as profit for the year ended 31st March, 2010, it was discovered that in arriving at the profit for 2009-10, the following two items have been ignored:(a) Outstanding expenses of Rs. 7,000 and 
(b) Accrued interest on investment of Rs. 4,000.Pass an adjusting journal entry. 
Hint: Accrued Interest A/c Dr. Rs. 4,000
X’s Capital A/c Dr. Rs. 1,800
Y’s Capital A/c Dr. Rs. 1,200
To Outstanding Expenses A/c Rs. 7,000

Q- A, B and C were in partnership sharing profits and losses in the ratio of 4:2:1 respectively. It was provided that in no case C’s share in profits should be less than 7,500. The profits for the year 2009 amount to 31,500. You are required to show the appropriation among the partnersAns.: Share in D.P.: A Rs. 16,000; B Rs. 8,000 and C Rs. 7,500]