sample papers for accountancy icse board
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Q5. Give two differences between fixed and fluctuating capital accounts . Page : 1/3 Know More About :- Geography Text Books Of Cbse Board Q7. When drafting a company balance sheet under Schedule VI Part I, under which heading and sub- heading will calls in arrear and calls in advance appear ? Q2. What are miscellaneous expenses ? Q4. What is the LIFO method of valuing inventories ? Q3. State any two purposes for which the securities premium can be utilized. Q6. What is gaining ratio ?TRANSCRIPT
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Sample Papers For Accountancy Icse Board
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Sample Papers For Accountancy Icse Board
Q1. When is a partner liable for debts incurred by the firm after his retirement ?
Q2. What are miscellaneous expenses ?
Q3. State any two purposes for which the securities premium can be utilized.
Q4. What is the LIFO method of valuing inventories ?
Q5. Give two differences between fixed and fluctuating capital accounts.
Q6. What is gaining ratio ?
Q7. When drafting a company balance sheet under Schedule VI Part I, under which heading and sub-heading will calls in arrear and calls in advance appear ?
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Q8. State the two effects of the provision of Accounting Standard-10 as issued by the Institute of Chartered Accountants of India.
Q9. What is a material transfer note ?
Q10. What is the accounting treatment in the books of the consignor relating to expenses incurred on returning the goods by the consignee to the consignor assuming that such expenses are :
(a) Borne by the consignor; (b) Borne by the consignee.
Q.11. S, T and W having agreed to share profits and losses equally, entered into a joint venture to construct a building at a price of Rs.10,00,000. A joint bank account was thus opened where S paid Rs.4,00,000, T – Rs.2,00,000 and W – Rs.3,00,000.
Expenses incurred on behalf of the joint venture were as follows: Materials – Rs.2,00,000; wages Rs.1,50,000 and expenses Rs.1,25,000. Materials supplied by S from his stock amounted to Rs.1,25,000. Finally, the venture was closed by T taking the closing stock at a valuation of Rs.1,00,000. From the above, you are required to prepare the joint venture account, co-ventures’ accountsand the joint bank account.
Q.12 Explain ‘pro-rata allotment of shares’ by means of a suitable example.
Q.13 State two differences between ‘current assets’ and ‘current liabilities’.
Q.14 Mention two uses of ratio analysis.
Q.15 State two advantages of self-balancing system.
Q.16 Why is a profit and loss appropriation account necessary in a partnership firm?
Q.17 Why is there a need for revaluation of assets and liabilities of a firm if there is a change in profit-sharing ratio of partners?
