Ca Cpt 2012
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CA - CPT – December 2012 Question Paper (Based on Memory)
1st session Marks: 100 Marks Time: 2 hrs.
Part A – Fundamentals of Accounting
1. When delcredere commission is allowed by consignor to consignee, then amount of abnormal loss will be borne by: a) Consignor b) consignee c) Both consignor and consignee in equal proportion d) Either consignor or consignee 2. The Rule “Debit all expenses and losses, credit all Incomes and gains” is relates to : a) Personal a/c b) real a/c c) Nominal a/c d) all the above 3. A and B are partners sharing profits and losses in the ratio of 5:3 , C was admitted as new partner and being capital Rs.70,000 and goodwill Rs.48,000. The new profit ratio between A:B:C is 7:5:4. The sacrificing ratio of A and B is : b) 3:1 c) 5:4 d) 3:5 a) 1:3 4. Estimated useful life of a machine is 5 years. Depreciation is written off in 2nd year under sum of the years digits method : c) 2/15 d) 1/15 a) 4/15 b) 3/15 5. How many no.of grace days allowed, when bill at sight is: a) 3 days b) 2 days c) 1 day d) no days 6. Which statement is sent by consignee to consignor : a) proforma invoice b) account sales c) Inward invoice d) outward invoice 7. Returns inward is deducted form a) Sales b) Purchases c) Returns outwards d) Closing stock 8. Krishna Ltd. Issued 1,50,000 shares of Rs.100 each, at discount of 10% Mr.Ram to whom 300 shares were allotted, failed to pay the final call of Rs.30 per share and hence all his shares were forfeited. At the time of forfeiture, what amount will be transferred to share forfeiture account. a) Rs.9,000 b) Rs.18,000 c) Rs.21,000 d) Rs.27,000 9. A company forfeited 1000 shares of Rs.10 each, on which Rs.6,000 have been received. The forfeited shares were reissued for Rs.7,000 as full consideration. How much amount is transferred to capital reserve account. a) Rs.1000 b) Rs.3,000 c) Rs.4,000 d) Rs.6,000 10. A and B sharing
C and D are
CA - CPT – December 2012 Question Paper (Based on Memory)
1st session Marks: 100 Marks Time: 2 hrs.
Part A – Fundamentals of Accounting
1. When delcredere commission is allowed by consignor to consignee, then amount of abnormal loss will be borne by: a) Consignor b) consignee c) Both consignor and consignee in equal proportion d) Either consignor or consignee 2. The Rule “Debit all expenses and losses, credit all Incomes and gains” is relates to : a) Personal a/c b) real a/c c) Nominal a/c d) all the above 3. A and B are partners sharing profits and losses in the ratio of 5:3 , C was admitted as new partner and being capital Rs.70,000 and goodwill Rs.48,000. The new profit ratio between A:B:C is 7:5:4. The sacrificing ratio of A and B is : b) 3:1 c) 5:4 d) 3:5 a) 1:3 4. Estimated useful life of a machine is 5 years. Depreciation is written off in 2nd year under sum of the years digits method : c) 2/15 d) 1/15 a) 4/15 b) 3/15 5. How many no.of grace days allowed, when bill at sight is: a) 3 days b) 2 days c) 1 day d) no days 6. Which statement is sent by consignee to consignor : a) proforma invoice b) account sales c) Inward invoice d) outward invoice 7. Returns inward is deducted form a) Sales b) Purchases c) Returns outwards d) Closing stock 8. Krishna Ltd. Issued 1,50,000 shares of Rs.100 each, at discount of 10% Mr.Ram to whom 300 shares were allotted, failed to pay the final call of Rs.30 per share and hence all his shares were forfeited. At the time of forfeiture, what amount will be transferred to share forfeiture account. a) Rs.9,000 b) Rs.18,000 c) Rs.21,000 d) Rs.27,000 9. A company forfeited 1000 shares of Rs.10 each, on which Rs.6,000 have been received. The forfeited shares were reissued for Rs.7,000 as full consideration. How much amount is transferred to capital reserve account. a) Rs.1000 b) Rs.3,000 c) Rs.4,000 d) Rs.6,000 10. A and B sharing
C and D are