JKBose 12th Class Accountancy 2017 Paper Jammu

By | January 9, 2018

The Jammu and Kashmir State Board of School Education formally known as JKSBSE or JK SBOSE) is the official board of school education in the Indian state of Jammu and Kashmir. It is based in Jammu & Srinagar and is an autonomous education body under the administration of the state government of J&K. The board gives affiliation to more than 10K schools across the state and employs more than 22K teachers.

The board is engaged to determine the courses of direction and make syllabi for them, and to choose reading material for the elementary, and secondary schools and for the higher secondary (school degree) school examinations; to lead open examinations and publish the results at the secondary school and higher secondary levels; to concede diplomas or certficates/endorsements to individuals who have passed its examinations; to perceive instructive foundations at the auxiliary school and higher optional levels, and direct reviews of perceived establishments, guaranteeing that required encourages, hardware, and staff are set up, that exclusive the affirmed books and courses are instructed, and that the measures are as per the significant directions; to expel acknowledgment from schools that don’t meet the correct conditions; to administer and control the perceived organizations; and exercise different forces given to it by law.

JKBose 12th Class Accountancy 2017 Paper Jammu

Private paper



(Long Answer Type Questions)

The following is the receipts and payments account of jolly Club for the first year ended 31st March 2012:

Receipts Rs Payments Rs
To Subscriptions

To interest on investments

To Life Membership subscription

To Profit or from Entertainment

To Entrance Fees






By salaries

By Postage

By Rent

By Telephone Charges

By printing and Stationary

By Furniture

By Investments

By Balance:

Cash in Hand

Cash at Bank










14600 14600

Additional information:

(i) Salaries outstanding Rs. 200.

(ii) Rent due Rs. 100.

(iii) Subscriptions to be received Rs 400

(iv) Depreciation on furniture 10%

Prepare Income and Expenditure Account for the year March 2012 and Balance sheet as on that date.


From the following information derived from the books of Jammu Club, show the relevance items will appear in opening and closing balance sheet and in the Income and Expenditure Account for the Year ended 31-03-2012:

Receipts Rs Payments Rs






120000 120000

Additional Information:

(i)   Subscription outstanding 31-03-2011                  Rs 18000

(ii)  Subscription outstanding 31-03-2010                  Rs 21000

(iii) Subscription receive in advance 31-03-2010        Rs 7000

  1. The partnership agreement of Mohsin and Ganesh provide that :

(i) profit will be shared equally.

(ii) Mohsin will be allowed a salary of Rs 400. P.M

(iii) Ganesh who manages the sales departmental will be allowed a commission equal to 10% of the net profit after allowing Mohsin salary.

(iv) 5% interest will be changed on partner’s annual drawings. Mohsin Rs. 800 and Ganesh Rs. 700.

(v) The net profit for the year ending March 31, 2012 amounted to Rs. 40000

Prepare Firm’s Profit and Loss Appropriation Account.


X and Y are partners sharing profit and losses in the ratio 2 : 1. Their capital were Rs 40000 and Rs 30000 respectively.

Show distribution of profit in each of the following cases:

Case A: Profits are Rs. 15000 and deed is silent as regards to interest on capital.

Case B: Profits are Rs 15000 and deed provides for interest @10% p.a on capital

Case C: Profits are Rs 5600 and deed provides for interest on capital @10% p.a

Case D: Profits are Rs 5600 and the deed provides for interest on capital @10% p.a even if there is a loss

Case E: Losses are Rs 2000 and the deed provides for interest on capital @10% p.a even if there is a loss.

3 firm earned net profit during the last five years as follows:

(i)    Rs. 7000

(ii)  Rs. 6500

(iii) Rs 8000

(iv) Rs. 7500

(v)  Rs 6000

The capital investment of the firm is Rs 40000. A fair return on Capital in the market is 12%. Find out the value of Goodwill of the business if it is based on the three year purchase of average super profits of the past five years.


A and B are partners in 3:2 ratio. C is admitted. A gave 1/5  of his share to C while B gave 1/10 of his share to C. Find out (a) new profit sharing ratio and sacrifice ratio.

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