Friday, 9 April 2021

Accounting - Paper 2 - For Class ICOM - Part 2 (Commerce Group) - Complete Solved Model Papers 2020 -2021

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Accounting- Paper 2
For Class XII (Commerce Group)
Solved Model papers 2020 -2021


Special Thanks To Sir Sameer Hussain 







Time: 1 Hour 30 Min      Max. Marks: 50
SECTION "B" (SHORT-ANSWER QUESTIONS) (30 Marks)

Note: Attempt any Three questions from this section. All questions carry equal marks

SOLUTION OF Q.2:

HANIA WELFARE TRUST
INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED DECEMBER 31, 2020
(Note: We add surplus to expenditure when total income is greater than expenditure.
Surplus = Total Income - Total expenditure i.e: Surplus = 110,000 - 87000 =23,000)


SOLUTION OF Q.3:

PARTNERSHIP
INCOME DISTRIBUTION SUMMARY
FOR THE PERIOD ENDED DECEMBER 3I, 2020


SOLUTION OF Q.4:

Case - 1:
Computation: (Goodwill to old Partners):


SOLUTION OF Q.5:

Other Assets = Total Assets - Cash
Other Assets 400,000 - 20,000
Other Assets - 380,000
Quick Company
General Journal

SOLUTION OF Q.6:

ASIF COMPANY LTD
GENERAL JOURNAL

SECTION "C" (DETAILED - ANSWER QUESTION) (20 Marks)

Note: Attempt any one part.

SOLUTION OF Q.7(a):

Computation of Depredation Expense by Straight Line Method:

SANA LTD.
GENERAL JOURNAL
(ADJUSTING ENTRY UNDER STRAIGHT LINE METHOD)

DateParticulars P/R DebitCredit
31 Dec
2019
 Depreciation expense
   Allowance for depreciation
(To record the depreciation expense)
 20,000



20,000




SANA LTD.
GENERAL JOURNAL
(CLOSING ENTRY UNDER WORKING HOURS METHOD)

DateParticulars P/R DebitCredit
31 Dec
2020
 Expense and revenue summary
    Depreciation expense
(To close the depreciation expense account)
 36,000



36,000



SOLUTION OF Q.7(b):

Computation of Capital at End:
Assets

MR. ASIM
STATEMENT Of AflMRS
AS ON DECEMBER 31, 2020






SOURCE: Board Of Intermediate Education Karachi

7 comments:

  1. thanks solve model paper ne meri bhot help ki
    i again thaks

    ReplyDelete
    Replies
    1. Education is the key to success18 July 2021 at 07:58

      JAZAKALLAH

      Delete
  2. Closing entry under w.h.m is wrong

    ReplyDelete
    Replies
    1. Education is the key to success23 July 2021 at 13:27

      Yes, you are right. we have made correction.
      If is there any other mistake. Let us know
      JAZAKALLAH

      Delete
  3. I can't understand Q6 last entry

    ReplyDelete
  4. Education is the key to success25 August 2021 at 13:17

    Sir is not avaiable, for explanation
    Feel extremely sorry, soon we will work on it
    JAZAKALLAH

    ReplyDelete