Top 20 Questions of Accountancy-2 (Class 12th 1st)
Most Repeated Questions
Top 20 Questions of Accountancy-2
Previous year question paper with solutions for Top repeated questions of Accountancy-2
PSEB • Class 12th • 1st
Browse Top 20 questions of Accountancy-2 (Class 12th 1st) previous year question papers for Top repeated questions of Accountancy-2. This page helps Accountancy-2 students find semester-wise papers for revision, exam practice, and understanding previous exam patterns. These are the top twenty repeated questions identified from previous year papers for Accountancy-2 (Class 12th 1st), helping students focus on the most frequently asked topics.
PART-I
UNIT 1: ACCOUNTING FOR NOT-FOR-PROFIT ORGANIZATION.
1. Meaning, Basic Concepts
2. Receipts and Payments : Meaning and Concept of Fund Based and Non-Fund Based Accounting
3. Preparation of Income and Expenditure Account and Balance Sheet from Receipt and Payment Account with additional information.
UNIT 2 : ACCOUNTING FOR PARTNERSHIP
2. Nature of Partnership Firm, Partnership Deed (Meaning and Importance)
3. Final Accounts of Partnership: Fixed v/s Fluctuating Capital, Division of Profit among Partners (excluding guarantee and past adjustments). Preparation of Profit and Loss Appropriation Account
UNIT 3: RECONSTITUTION OF PARTNERSHIP
1. Change in Profit Sharing Ratio among the existing Partners- Sacrificing Ratio and Gaining Ratio
2. Accounting for Revaluation of Assets and Liabilities and Distribution of Reserves and Accumulated Profits
3. Goodwill: Meaning, Nature, Factors affecting and Methods of Valuation. Average Profits, Super Profits and Capitalization Methods types of goodwill.
4. Admission of a Partner:- Effect of Admission of Partner, Change in Profit Sharing Ratio, Accounting Treatment of Goodwill (as per accounting standard 10). Revaluation of Assets and Liabilities, Reserves (Accumulated profits) and Adjustment of Capitals
5. Retirement/Death of a Partner: Change in Profit Sharing Ratio, Accounting Treatment of Goodwill, Revaluation of Assets and Liabilities, Treatment of Accumulated Profits (Reserve), Adjustment of continuing P.capitals, Payment to Retiring Partner/ Deceased Partners.
UNIT 4 : DISSOLUTION OF PARTNERSHIP FIRM
Meaning and Various Modes of Dissolution of Partnership Firm, Settlement of Accounts.Preparation of Realization Account and Related Accounts (excluding Piece Meal Distribution, Sale to a Company and Insolvency of a Partner).
NOTE: Students may choose only one Part from Part II and Part III.
PART -II
UNIT-5: ACCOUNTING FOR SHARE CAPITAL AND DEBENTURES
1. Share Capital : Meaning, Nature and Types
2. Accounting for Share Capital : Issue and Allotment of Equity and Prefer Shares, Over Subscription and under Subscription, Issue at Par Securities Premium and Calls in Advance, Calls in Arrears, Issue of Shares for Consideration other than cash.
3. Forfeiture of Shares:- Accounting Treatment, Reissue of Forfeited Shares.
4. Presentation of Share and Debenture, Capital in Company's Balance Sheet
5. Issue of Debentures:- Meaning, Types of Debentures, Issue at Par, Premium and Discount, Issue of Debentures for Consideration other than cash, Debenture Issues as Collateral Security.
6. Redemption of Debentures:- Out of proceeds of fresh issue, Accumùlated Profits and Sinking Fund.
UNIT 6: ANALYSIS OF FINANCIAL STATEMENTS
1. Financial Statement of Company:- Balance Sheet of a Company in the prescribed form with major heading only (schedule VI)
2. Financial Analysis:- Meaning, Significance and Purpose, Limitations.
3. Tools for Financial Analysis:- Comparative Statements, Common Size Statement and Trend Analysis.
4. Accounting Ratio:- Meaning, Objectives and Types of Ratios:
(a) Liquidity Ratio :- Current Ratio, Liquidity Ratio.
(b) Solvency Ratio :- Debt to Equity, Total Assets to Debt, Proprietary Ratio.
(c) Activity Ratio: Inventory Turnover, Debtors Turnover, Creditors Turnover, Working Capital Turnover, Fixed Assets Turnover,
Currents Assets Turnover.
(d) Profitability Ratio:- Gross Profit, Operating Profit Ratio, Net Profit Ratio, Return on Investment, Earning Per Share Dividend Per Share, Price Earning Ratio.
UNIT 7: STATEMENT OF CHANGES IN FINANCIAL POSITION
Cash Flow Statement:- Meaning and Objectives, Preparation, Adjustments related to Depreciation, Dividend, Tax , Purchase and
Sale of non-current assets (as per revised standard issued by ICAI)
OR
PART-III
COMPUTERISED ACCOUNTING SYSTEM
UNIT 5: OVERVIEW OF COMPUTERIZED ACCOUNTING SYSTEM
4. Concepts and Types of Computerized Accounting System(CAS)
5. Features of a Computerized Accounting System
6. Structure of a Computerized Accounting System
UNIT 6: USING COMPUTERIZED ACCOUNTING SYSTEM
4. Steps in installation of CAS, preparation of chart of accounts, codification and hierarchy of account heads.
5. Data Entry, Data Validation and Data Verification.
6. Adjustment Entries, Preparation of Financial Statements, Closing Entries and Opening Entries.
7. Security of CAS and security features generally available in CAS (Students are expected to understand and practice the entire accounting process using an accounting package).
UNIT 7: ACCOUNTING USING DATA BASE MANAGEMENT SYSTEM(DBMS)
1. Concepts of DBMS.
2. Objective in DBMS: Tables, Queries, Forms, Reports.
3. Creating Data Tables for Accounting
4. Using queries, forms and reports for generating accounting information, Applications of DBMS in generating accounting information such as shareholders records, sale reports, customers profile, suppliers profile payroll, employees' profile and petty cash register.
UNIT 8: ACCOUNTING APPLICATION OF ELECTRONIC SPREAD SHEET
1. Concept of an Electronic Spread Sheet (ES).
2. Features offered by Electronic Spread Sheet.
3. Applications of Electronic Spread Sheet in generating Accounting Information, Preparing Depreciation Schedule, Loan Repayment Schedule, Payroll Accounting and other such applications.
Project work
Project work is for those students who choose Part-II of the syllabus.
Time: 1 ½ Hours Max Marks 15
1. The syllabus of project work is same as prescribed for the theory paper i.e. Part I and Part II.
2. Project Note book will consist of at least one comprehensive project and some short answer questions based on the prescribed syllabus.
3. Division of Marks:
Project Note Book 3 marks
Total five questions of 3 marks each will be set.
The students are required to attempt any three (3×3) 9 marks
Viva Voce 3 marks
Practical
Practical is for those students who choose Part-III of the syllabus.
Time: 1 ½ Hours Max Marks 15
1. The syllabus of project work is same as prescribed for the theory paper of part-III.
2. Practical Note book will consist of the entire practical performed in the computer laboratory based on the prescribed syllabus.
3. Division of Marks:
Practical Note Book 3 marks
The students are required to perform any two (2×4) 8 marks
practical out of the given four of 4 marks each.
Viva Voce 4 marks
Top repeated questions
Top 20-
1.
What are the limitations of Receipts and Payments Account ?
Appeared 1 times
Appeared in: Mar 2017
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2.
Write any two difference between Fixed Capital Account and Fluctuating Capital Account.
Appeared 1 times
Appeared in: Mar 2017
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3.
SurJit, Baljit and Harish me partner sin 2;2:1 ratio. Manish is admitted for 1/10 share. Total goodwill is valued $ 6,00,000. Manish brings his share of goodwill in Cash and for Capital $1,80,000. Pass journal entries.
Appeared 1 times
Appeared in: Mar 2017
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4.
(i) A and B are partners sharing profit in the ratio of 3:2 with capitals of 3,00,000,and 1,80,000 respectively. Interest on capital is agreed @ 67% p.a. B is to be allowed an annual salary of T 15,000. During 2015, the profits of the firm prior to calculation of interest on capital but after charging B's Salary amounted to 75,000. A provision of 5% of the profits is to be maintained in respect of future contingencies before any appropriation. Prepare an account showing allocation of profits and partner's capital accounts\\r\\n\\r\\n(ii) What is Goodwill ?Write any four features of Goodwill\\r\\n\\r\\n(iii) Write any four difference between Realisation Account and Revaluation Account.
Appeared 1 times
Appeared in: Mar 2017
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5.
Usha and Anju were partners in a firrn sharing profits in the ratio of 3:2. On 31st March 2015 theirBalance Sheetwas as follows:\\r\\n\\r\\n\\r\\n \\r\\n \\r\\n Liabilities\\r\\n $\\r\\n Assets\\r\\n $\\r\\n \\r\\n \\r\\n \\r\\n Sundry Creditors\\r\\n\\r\\n Bills Payable\\r\\n\\r\\n Provision for doubtful debts\\r\\n\\r\\n General Reserve\\r\\n\\r\\n Sanju'sLoan\\r\\n\\r\\n CapitalAccounts :\\r\\n\\r\\n Usha 1,00,000 Anju 1.30.000\\r\\n \\r\\n \\r\\n \\r\\n\\r\\n \\r\\n\\r\\n 30,000\\r\\n\\r\\n 20,000\\r\\n\\r\\n 500\\r\\n\\r\\n 15,000\\r\\n\\r\\n 50,000\\r\\n\\r\\n \\r\\n\\r\\n \\r\\n\\r\\n \\r\\n\\r\\n \\r\\n\\r\\n 230,000\\r\\n \\r\\n \\r\\n Cash\\r\\n\\r\\n Debtors\\r\\n\\r\\n Bills Receivable\\r\\n\\r\\n Stock\\r\\n\\r\\n Investment\\r\\n\\r\\n Land and Building\\r\\n\\r\\n Profit and LossAccount\\r\\n \\r\\n \\r\\n 9,000\\r\\n\\r\\n 40,000\\r\\n\\r\\n 30,000\\r\\n\\r\\n 37,500\\r\\n\\r\\n 95,000\\r\\n\\r\\n 90;000\\r\\n\\r\\n 45,000\\r\\n \\r\\n \\r\\n \\r\\n \\r\\n 3,45,500\\r\\n \\r\\n 3,45,500\\r\\n \\r\\n \\r\\n\\r\\n\\r\\nOn the above date Sanju was admitted as a new partner in the firm for 1/4th share in the profits on the following terms\\r\\n\\r\\n(i) Sanju's loan will be converted into his Capital.\\r\\n\\r\\n(ii) A provision for 5% was to be created for doubtfur debts.\\r\\n\\r\\n(iii) Land and Building was depreciated by $ 9,000.\\r\\n\\r\\n(iv) Stock is overvalued by $2,500.\\r\\n\\r\\n(v) There were unrecorded creditors of $ 2,500.\\r\\n\\r\\n(vi) Goodwill of the nrm is valued at 2 times of average profit. Average profit of the firm for 4 years is $ 20,000.\\r\\n\\r\\nPrepare Revaluation Account, Partner's Capital Accounts and the Balance Sheet of the newfirm
Appeared 1 times
Appeared in: Mar 2017
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