Скачать или смотреть CBSE class 12 accounts sample paper 2021 solution | MCQ | term 1 exam | case based question | part C

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In this video of CBSE class 12 accounts sample paper 2021 solution of MCQ term 1 exam on case based questions of part c are explained.

Bright Star Limited is engaged in manufacture of high-end medical
equipment. Considering the prospects of high growth in this segment
the company has decided to expand and for this purpose additional
investment of ₹50,00,00,000 is required. Directors have decided that
20% of this requirement would be financed by raising long term debts
and balance by issue of Equity shares.
As per memorandum of association of the company the face value of
Equity shares is ₹100 each. Also, considering the market standing of
the company these shares would be issued at a premium of 25%.
Directors decided to issue sufficient shares to collect the desired
amount (including premium).
The prospectus was issued to public, and the issue was oversubscribed
by 2,00,000 shares which were issued letters of regret. Answer the
below mentioned questions considering that the entire amount was
payable on application.

37. What is the total amount collected on application?
(A) ₹42,50,00,000
(B) ₹40,00,00,000
(C) ₹32,00,00,000
(D) None of the above

38. How many Equity shares were offered for issue by Bright Star Ltd?
(A) 40,00,000 shares.
(B) 50,00,000 shares.
(C) 35,00,000 shares.
(D) 32,00,000 shares.

On 1st September 2020 twenty students of Modern College started
their Partnership Firm in the name of “Be Safe” for selling sanitisers
on digital mode. Since they were good friends of each other, they
were not having any explicit agreement in place. All of them have
agreed to invest ₹15,000/- each as capital. The books were closed
on 31st March 2021, on which date the following information was
provided by the firm:

PARTICULARS AMOUNT (₹)
Sale of Sanitisers 1,20,000
Cost of goods sold 50,000
Total Remuneration to partners 2,000 per month
Rent to a partner 1,000 per month
Manager’s Commission 5,000
Closing Stock as on March 31,2021 9,000
6% Fixed Deposit (made on 31.3.2021) 20,000

39. Calculate the amount of profits to be transferred to Profit and Loss
Appropriation Account. -
(A) Profit ₹58,000
(B) Profit ₹44,000
(C) Profit ₹59,200
(D) Profit ₹58,700

40. On 31st March 2021, Remuneration to Partners will be provided to
the partners of “Be Safe” but only out of:
(A) Profits for the accounting year
(B) Reserves
(C) Accumulated Profits
(D) Goodwill

41. On 01st December 2020 one of the partners of the firm introduced
additional capital of ₹30,000 and also advanced a loan of ₹40,000
to the firm. Calculate the amount of interest that Partner will
receive for the current accounting period-
(A) ₹4,200
(B) ₹1,400
(C) ₹ 1575
(D) ₹ 800

sample paper MCQ part 1 :    • MCQ term 1 exam | Class 12 accountancy | C...  
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