Sample Question for Accountancy Practical Exam 2017

AISSCE Practical Examination - 2017

Class: XII                       ACCOUNTANCY                            Marks: 12

  Time: 1 Hrs.

General Instructions:

a) This Question Paper contains three questions. You have to answer all questions.

b) First two questions carry 3 marks each and third question carries 6 mark.

1.     Following information is given by a company from its books of accounts as on March 31, 2015:                                                                                             [3]

Inventory                                           2,00,000

Total Current Assets                           2,60,000

Shareholders’ funds                           5,00,000

15% Debentures                                 3,00,000

Current liabilities                               1,50,000

Net Profit Before Tax                         3,50,000

Cost of revenue from operations         4,00,000

Calculate:

a) Debt Equity Ratio

b) Interest Coverage Ratio

c) Inventory Turnover Ratio

2. The quarterly report of a company gives the following information about sales revenue and net profit for the Second quarters of past three years. Compare the two  quarters and find out which one better one. Comment which one is better.        [3]

                                                                                                                                                                                                               

Particulars	2014-15	2014-13	2013-12
Sales Revenue Net Profit	2200000 500000	1800000 400000	1400000 200000

3. From the following Balance Sheet of Ashok Ltd. Prepare cash flow Statement:

Particulars	Note No.	Amount 2015	Amount 2014
1. Equity and Liabilities a) Shareholder’s Funds      Share Capital      Reserves and Surplus b) Non-Current Liabilities      Long-term Borrowings c) Current Liabilities       Trade Payables 2.Assets a) Non-current Assets Fixed Assets Non-current Investment b) Current Assets      Inventory      Trade Receivables      Cash & Cash Equivalents	1 2 3	500000 305000 310000 95000	400000 210000 300000 80000
		1210000	990000
		700000 56000 280000 114000 60000	500000 70000 210000 140000 70000
		1210000	990000

Note to Accounts

Items	2015(Rs.)	2014(Rs.)
Reserves and Surplus          General Reserves          P&L Balance	115000 190000	100000 110000
	305000	210000
Long-term Borrowings         12% Debentures          14% Loan	150000 160000	200000 100000
	310000	300000
Trade Receivables          Debtors          Bills Receivables	94000 20000	125000 15000
	114000	140000

Additional Information:

Total Interest paid on long term borrowings during the year amounted to Rs. 37800. Prepare  Cash flow statement.                                                                         [6]