CBSE 12th Accountancy Question Paper 2022 (Set 1)

(a) Nature of items: It refers to the type of items to be recorded in the account, e.g., revenues, expenses, assets, liabilities, capital, etc. (b) Opening balance: It means the balance brought forward from the previous accounting period, shown on the opening side of the account.

The unrecorded creditor was ₹40,000. Since Amar paid it at a discount of 10%, the amount actually paid = ₹36,000. Journal Entry: Unrecorded Creditor A/c Dr. ₹40,000 To Amar's Capital A/c ₹36,000 To Capital Reserve A/c ₹4,000 (Being unrecorded creditor paid by Amar at 10% discount and the gain transferred to capital reserve.)

Old profit-sharing ratio of Suman, Shubham and Siya = 5 : 3 : 2 Shubham retired, so his share = 3/10. This share is taken over by Suman and Siya in the gaining ratio 3 : 2. So, Shubham's share is divided as: - Suman = $\frac{3}{5} \times \frac{3}{10} = \frac{9}{50}$ - Siya = $\frac{2}{5} \times \frac{3}{10} = \frac{6}{50}$ New share of Suman = old share + gained share = $\frac{5}{10} + \frac{9}{50} = \frac{25}{50} + \frac{9}{50} = \frac{34}{50}$ New share of Siya = old share + gained share = $\frac{2}{10} + \frac{6}{50} = \frac{10}{50} + \frac{6}{50} = \frac{16}{50}$ Therefore, the new profit-sharing ratio of Suman and Siya = 34 : 16 = 17 : 8.

The question is incomplete because the required information of Kapoor Sports Club is not provided. Please share the full details so the amount to be written on the debit side of the Income and Expenditure Account can be calculated.

The question is incomplete because the necessary information for the Statement of Affairs of Royal Sports is not provided. Please share the full data so the statement can be prepared correctly.