Are you a Assam Board Class 12 student preparing for the ASSEB Class 12 Accountancy exam? Either way, you're in the right place. The ASSEB Class 2 Accountancy Question paper 2014 can feel like a tough nut to crack, especially with its blend of theory, journal entries, and financial statements. But with the right understanding of the ASSEB Class 12 Accountancy question paper 2014 New pattern, marking scheme, and important topics, you can approach it with confidence and clarity.
In this post, we’re diving deep into the ASSEB Class 12 Accountancy Question Paper 2014 in PDF Format—breaking down the structure, sharing sample questions, tips to score high, and some smart strategies to revise effectively. Whether you're aiming for that perfect score or just looking to pass with peace of mind, this guide has got your back in Assam Board Class 12 Accountancy Exam.
ASSEB Class 12 Accountancy Question Papers 2014
ACCOUNTANCY
Full Marks: 100
Pass Marks: 30
Time: Three Hours
1. (a) Fill in the blanks with appropriate word: 1X4=4
(i) Life membership fee is a ____________ receipt.
(ii) Interest on Partner’s loan is to be credited to his ____________ Account.
(iii) If there is any profit on revaluation of assets and liabilities, the same will be shared by _________ partners in their ______ ratio.
(iv) The amount due to the retiring partner is transferred to his ___________ account in case it is not paid immediately.
(b) Choose the correct alternative: 1X2=2
(i) If the business is sold as a going concern, cash balance is also transferred to ___________ Account.
(1) Revaluation
(2) Realisation
(ii) Rate of Interest on calls in arrears charged according to Table ‘A’ is _____________.
(1) 5%
(2) 6%
(3) 7%
(4) 8%
(c) State whether the following statements are true or false: 1X2=2
(i) Debenture holders are the owners of the company.
(ii) Company’s shares are generally transferable.
2. What is a capital fund? 2
3. Mention any two rights of a partner. 2
4. What is hidden goodwill? 2
5. What is Reserve capital? 2
6. Give any two distinctions between shares and debentures. 2
7. Mention any six statutory books to be maintained by a company. 3
8. Explain the accounting treatment of loss on issue of debentures in the books of a company. 3
9. Give the major heads on the “Equity and Liabilities” side of a company’s Balance Sheet. 3
Or
What is trend analysis? Mention its usefulness. 3
10. How would you calculate the amount payable to the executor of a deceased partner? 3
11. Mention three situations under which a firm may be dissolved without intervention by court. 3
Or
X Ltd. company forfeited 800 shares of Rs.10 each issued at par for non-payment of 1st call Rs.2 and final call Rs.3 each. Out of these, 500 shares are re-issued at 10% discount. Give journal entries in the books of the company. 3
12. Calculate Acid-Test Ratio from the following: 5
Current Assets Rs.50000.
Current assets includes the following ----
Stock Rs.14000.
Pre-paid Expenses Rs. 1000.
Current liabilities Rs.20000. Current liabilities include Bank overdraft Rs.5000.
13. From the following information, calculate cash flow from operating activities using Direct Method: 5
Additional Information:
(1) Debtors – Opening Balance Rs.15000, Closing Balance Rs.20000.
(2) Creditors – Opening Balance Rs.10000, Closing Balance Rs.12000.
(3) Stock – Opening Balance Rs.7000, Closing Balance Rs.10000.
(4) At the end of the year, outstanding salary Rs.2000, pre-paid insurance Rs.400 and Income tax outstanding Rs.1000.
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Also Read:
➣ ASSEB Class 12 Accountancy Paper 2012
➣ ASSEB Class 12 Accountancy Paper 2013
➣ ASSEB Class 12 Accountancy Paper 2015
➣ ASSEB Class 12 Accountancy Paper 2016
➣ ASSEB Class 12 Accountancy Paper 2017
➣ ASSEB Class 12 Accountancy Paper 2018
➣ ASSEB Class 12 Accountancy Paper 2019
➣ ASSEB Class 12 Accountancy Paper 2020
➣ ASSEB Class 12 Accountancy Paper 2021
➣ ASSEB Class 12 Accountancy Paper 2022
➣ ASSEB Class 12 Accountancy Paper 2023
➣ ASSEB Class 12 Accountancy Paper 2024
➣ ASSEB Class 12 Accountancy Paper 2025
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14. From the following items of Receipt and Payment Account of South India Club, prepare moan Income and Expenditure Account for the year ended 31.03.2013: 5
Additional Information: On 31.3.2013, subscription in arrear was Rs. 4700 and interest on loan was outstanding for 9 months.
15. What is Partnership Deed? Mention its four principal clauses. 5
16. Neer and Sameer are partners in a firm sharing profits in the ratio of 5:3. On 1st January 2012, their capitals were Rs.35000 and Rs.25000 respectively. On that date, they admitted Varun as a new partner for 1/5th share in the profit. Varun brought in Rs. 20000 as capital and Rs.8000 for his premium for goodwill. Pass necessary Journal Entries in the books of the firm on Varun’s admission. The new profit sharing ratio will be 3:1:1. 5
17. S,T and U were partners in a firm sharing profits in the ratio of 1:2:2. On 15.2.2013, S died and new profit sharing ratio of T and U was agreed to be 3:2. On S’s death, the goodwill of the firm was valued at Rs.60000. Calculate the gaining ratio and pass necessary Journal Entries on S’s death for treatment of goodwill without opening goodwill account. 5
Or
State the legal requirements for issuing shares at a discount. 5
18. Guwahati Engineering Limited issued 10000 6% Debentures of Rs.10 each at a discount of 5% but repayable after 5 years at a premium of 10%. Show the entries in the books of the company and also the accounting treatment of loss on issue of debentures for 5 years. 5
19. Amal and Bimal are two partners in a firm. They share profits in the ratio of 3:2. Following is their Balance Sheet as on 31.12.2012 on which date they dissolved their partnership firm: 8
Balance Sheet
Assets are realised as: Fixed Assets Rs.28000, Stock Rs.8000 and Debtors Rs.13000.
Creditors were paid at a discount of 10%. Expenses of realisation were Rs.1500.
Pass Journal Entries in the books of the firm.
20. Jugmug Limited has an authorised capital of Rs.1000000 divided into 100000 equity shares of Rs.10 each. The directors decided to issue 50000 shares to the public at a premium of 10% payable as follows: 8
On Application: Rs.3
On Allotment : Rs. 5 (Including Premium) and the Balance on 1st and final call.
The company received application for 60000 shares. The directors decided to reject the excess application and the money thereon was refunded. The calls were made and call money duly received. Give Journal Entries, prepare a Cash Book and a Balance Sheet in the books of the company.
21. The following is the Trial Balance of X and Y firm as on 31.3.2013: 8
Trial Balance
Prepare Profit and Loss Account and Profit and Loss Appropriation Account for the year ended 31.3.2013 and a Balance Sheet as on that date after taking into consideration the following adjustments:
(i) The Partners are entitled to Interest on Capital @ 5% and they are charged interest on drawings: X – 300 and Y – 200.
(ii) Transfer 10% of the net profit to Reserve Fund.
(iii) Provide manager’s commission @5% on net profit before charging such commission.
(iv) Bad Debt reserve is to be increased to 5% on debtors.
(v) Interest on investment accrued Rs.500.
22. Swadip Petrochemicals Ltd. issued 10000 12% Debentures of Rs.100 each. Give Journal Entries for issue and redemption of debentures in the books of the company under the following situations: 8
(i) Issued at par and redeemable after 5 years at par.
(ii) Issued at Par and redeemable after 5 years at a premium of 5%.
(iii) Issued at a premium of 5% and redeemable after 5 years at par.
(iv) Issued at a premium of 5% and redeemable after 5 years at a premium of 10%.
Or
Explain the different methods of redemption of debentures. 8
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Q1: What is the full form of ASSEB?
A: ASSEB stands for the Assam State School Education Board Division-I. It conducts examinations for Class 11/12 students in Assam.
Q2: Where can I Download Assam Board HS 2nd Year Accountancy Question Paper in PDF?
A: The Accountancy paper is usually of 80 marks, and the duration of the exam is 3 hours. You can get ASSEB Class 12 Accountancy Question paper only in The Treasure Notes No. 1 Educational Website in Assam.
Q3: Is the Accountancy paper divided into sections?
A: Yes, typically the paper is divided into two main parts:
Part A: Accounting for Partnership Firms and Companies
Part B: Financial Statement Analysis or Computerized Accounting (students choose one)
Q4: Where can I get all the Previous Year ASSEB Class 12 Accountancy Questions Papers 2012 to 2025?
A: Assam Board Class 12 Students can all the PYQ's of Accountancy Class 12 only on The Treasure Notes an educational website of Assam.
Q5: How can I score well in the ASSEB Class 12 Accountancy exam?
A: Practice previous year papers, understand the concepts thoroughly, avoid rote learning, and focus on formats and calculations. Time management is key during both preparation and the actual exam.
The Class 12 ASSEB Accountancy paper 2014 can feel intimidating at first glance, but with smart preparation, clear concepts, and regular practice, it becomes much more manageable. Whether it's partnership accounting, company accounts, or ratio analysis, every topic is a stepping stone toward scoring high.
Remember, the goal isn't just to memorize — it's to understand how financial information works in the real world. So take your time, stay consistent, and use resources like this Assam Board HS 2nd Year Accountancy Question Paper 2014 to boost your confidence.
You've got this — now go ace that exam! 💯📚