List of top Accountancy Questions on Miscellaneous asked in CBSE CLASS XII

Sanju and Manju were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet on 31^st March, 2023 was as follows:

\[ \begin{array}{|l|r|l|r|} \hline \textbf{Liabilities} & \textbf{Amount (₹)} & \textbf{Assets} & \textbf{Amount (₹)} \\ \hline \text{Capitals:} & & \text{Plant and Machinery} & 80,000 \\ \quad \text{Sanju} & 1,40,000 & \text{Furniture} & 1,32,000 \\ \quad \text{Manju} & 1,20,000 & \text{Investments} & 60,000 \\ \quad \text{Total Capitals} & 2,60,000 & \text{Debtors} & 76,000 \\ \text{General Reserve} & 40,000 & \text{Less: Provision for doubtful debts} & (4,000) \\ \text{Creditors} & 1,80,000 & \text{Cash at Bank} & 1,36,000 \\ \hline \text{Total Liabilities} & 4,80,000 & \text{Total Assets} & 4,80,000 \\ \hline \end{array} \] 

Adjustments:
- Furniture was to be depreciated by ₹6,000.
- Investments were valued at ₹72,000.
- Plant and Machinery was taken over by Sanju and Manju in their profit-sharing ratio.
- Uday will bring in proportionate capital and ₹10,000 as his share of goodwill premium in cash.

Printkit Limited invited applications for issue of 80,000 equity shares of  Rs 10 each. The amount was payable as follows:

• On Application: ₹ 3  per share
• On Allotment: ₹ 2  per share
• On First and Final Call: Balance

Applications for 1,50,000 shares were received. Applications for 10,000 shares were rejected, and pro-rata allotment was made to the remaining applicants as follows:

• Category A: Applicants for 80,000 shares were allotted 40,000 shares.
• Category B: Applicants for 60,000 shares were allotted 40,000 shares.

Excess money received on application was adjusted toward the amount due on allotment and first and final call. All the amounts due on allotment and first and final call were duly received