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Dear grade 12 students out there! Namaste. Today, we present you the Accounting SET-A NEB Grade 12 Model Question 2079-2023 with subject code: 1041 and you can download the neb grade xii (12) Accounting SET-A subject question paper of the year 2079-2023 in PDF format. Please check and download pdf file grade 12 Accounting SET-A Model question paper of the year 2023-2079 Nepal. The model question provided below – Accounting SET-A neb grade 12 model question 2079-2023 for the board exam 2079 and onwards. And it is based on the latest NEB Syllabus for 2079. We will be adding more model question papers of grade xii-12 later on. Also Download Accounting SET-A Model Question 2079-2023 of grade 12-xii in pdf format which is 263 kb in size. Enjoy!
Accounting SET-A NEB Grade 12 Model Question 2079-2023.
NATIONAL EXAMINATIONS BOARD [NEB]
NEB Grade XII-12
2079-2023
Model Question
Accounting
SET-A
Subject Code – 1041
Time – 3 hrs
Full Mark – 75
The candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.
Check this …
Accounting NEB Class 12 Question Paper 2080-2023 (Sub. Code: 1041’Q’) (New Course) | PDF Download.
NEB Grade 12-XII Exam Model Question Papers 2077-2020 for All Subjects | Download in PDF.
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Attempt all the questions
Group A
Very short answer questions: (11×1=11)
1. State the meaning of private company.
2. Write the meaning of cumulative preference share.
3. Give any two items of current asset.
4. Write the meaning of Cost Accounting.
5. Classify overhead according to controllability.
6. Give the meaning of periodic inventory system.
7. State any two advantages of time wage system.
8. Mention any two disadvantages of computer system in accounting.
9. Prepare adjusting entry of commission earned but not received Rs. 15,000.
10. Calculate amount of cash paid for purchase, from the following information:
(Cost of goods sold) : Rs. 350,000
(Beginning inventory) : Rs. 50,000
(and ending inventory) : Rs. 40,000
11. If ordering cost per order Rs. 300, carrying cost per unit is Rs. 2 and annual requirements are 30,000 units, find out economic order quantity.
Group B
Short Answer Questions: (8×5=40)
12. A Company Ltd. invited application for 30,000 shares of Rs. 100 each at 10% premium, payable as under:
(On application) Rs. 30
(On allotment) Rs. 40
(On first and final call) Rs. 40
Applications were received for 42,000 shares. The board of directors decided to allot 25,000 applicants in full, 10,000 applicants 50% and 7,000 applicants were rejected. It was decided to utilize excess application money in part payment of allotment. All money were duly received except a shareholder holding 200 shares failed to pay first and final call money.
Required:
Entries for:
i) Share application
ii) Share allotment
iii) Share first and final call. [1.5+2+1.5=5]
13. a. A company purchased the following assets at an agreed price of Rs. 1,100,000:
Plant – Rs. 520,000
Land and Building – Rs. 730,000
The company paid the agreed price by issuing shares of Rs. 100 each at 20% discount.
Required:
Entries for purchase of assets and issue of share
13. b. A Co. Ltd. issued 8,000, 10% Debentures of Rs. 1,000 each at a premium of 5% redeemable at a premium of 10% after 5 years.
Required:
Journal entries for issue and redemption of debentures [1.5+1.5=3]
14. Following information was taken from a company as on 31st Ashad, last year is given as:
| Particulars | Amount (Rs) |
| Prepaid insurance | 8,000 |
| Gross profit | 4,20,000 |
| P&L appropriation account | 1,50,000 |
| Salaries | 42,000 |
| Carriage outwards | 5,000 |
| Selling expense | 18,000 |
| Administrative expenses | 25,000 |
| Interest expenses | 12,000 |
| Rent expenses | 36,000 |
Additional Information:
a. Purposed dividend Rs 90,000.
b. Prepaid insurance was expired Rs. 6,000.
Required:
Profit and Loss account, and Profit and Loss Appropriation account [3+2=5]
15. The Trial Balance of a Co. Ltd. as on 31st Chaitra last year is given below:
| Particulars | Debit Rs. | Particulars | Credit Rs. |
| Office Equipment | 1,80,000 | Capital | 1,52,000 |
| Cost of goods sold | 1,21,000 | Creditors | 25,000 |
| Cash | 32,000 | Sales | 2,30,000 |
| Debtors | 25,000 | Unearned income | 5,000 |
| Administrative expenses | 12,000 | ||
| Salaries | 24,000 | ||
| Marketing expense | 18,000 | ||
| Total | 4,32,000 | Total | 4,32,000 |
Additional information:
i. Salary payable Rs.6,000
ii. Unearned income was earned Rs. 4,000
Required:
Worksheet
16. Differentiate between cost accounting and financial accounting. [5]
17.
a. State the meaning of material classification with suitable examples. [2]
b. Following are the store transactions for the month of May:
May 1: Beginning inventory 150 units @ Rs. 20
May 2: Purchased 400 units @ Rs. 25
May 20: Purchased 650 units @ Rs 30
Sales during May) 850 units
Required:
Cost of ending inventory and cost of goods sold using FIFO method under periodic inventory system. [3]
18.
a. The time allowed to produce 80 units of output is 2 hours. A worker produced 400 units during the month. Wages rate per hour is Rs. 800.
Required:
Wages of a worker [2]
b. On reconciliation of Financial and Cost Accounting, following facts were disclosed:
i. Profit shown by cost account Rs. 420,000.
ii. Works overhead under recorded in cost account Rs. 25,000.
iii. Office overhead under recovered in financial account Rs. 15,000.
iv. A profit on sale of fixed assets was shown in financial account Rs. 5,000.
Required:
Cost reconciliation statement [3]
19. Explain the features of accounting software. [5]
Group C
Long answer questions: [3×8=24]
20. The Trial Balance of a company Ltd. as on 31st Chaitra last year is given below:
| Particulars | Debit Rs. | Particulars | Credit Rs. |
| Opening inventory | 60,000 | Sales | 5,20,000 |
| Sales commission | 40,000 | Creditors | 30,000 |
| Purchases | 3,50,000 | Other service revenue | 40,000 |
| Stationary | 9,000 | 10% Debentures | 1,00,000 |
| Rent | 20,000 | Share capital | 5,00,000 |
| Salary | 60,000 | Interests on Investments | 15,000 |
| Interim Dividend | 8,000 | Retained earnings | 40,000 |
| Equipment | 1,00,000 | ||
| Prepaid Insurance | 10,000 | ||
| Cash | 17,000 | ||
| Biologic assets | 60,000 | ||
| 10% Investment | 1,50,000 | ||
| Advertisement expense | 10,000 | ||
| Land and building | 3,00,000 | ||
| Account receivables | 41,000 | ||
| Interest expenses | 10,000 | ||
| Total | 12,45,000 | Total | 12,45,000 |
(Additional Information):
i. Closing inventory Rs. 120,000.
ii. Prepaid insurance was expired to Rs. 8,000.
iii. Depreciation charged on equipment by 10% and on building by 5%.
iv. Provision for income tax @ 25%.
Required:
a. Profit or Loss statement based on NFRS.
b. Statement of financial position based on NFRS. [4+4=8]
21. The Balance Sheet of a company on 31st December were given below:
| Liabilities | Year I (Rs.) | Year II (Rs.) | Assets | Year I (Rs.) | Year II (Rs.) |
| Share Capital | 3,00,000 | 3,00,000 | Fixed Assets | 2,50,000 | 3,25,000 |
| Retained earnings | 20,000 | 60,000 | Inventory | 10,000 | 35,000 |
| Creditors | 20,000 | 30,000 | Debtors | 40,000 | 12,500 |
| Expense payable | 25,000 | 17,500 | Bank balance | 65,000 | 35,000 |
| Total | 3,65,000 | 4,07,500 | Total | 3,65,000 | 4,07,500 |
Additional information:
i. Sales Rs. 300,000
ii. Cost of goods sold Rs. 180,000
iii. Sales of fixed assets Rs. 25,000
iv. Purchase of fixed assets Rs. 110,000
v. Dividend paid Rs. 30,000
vi. Operating expense Rs. 40,000
Required:
Cash flow statement using direct method [4+1+2+1]
22. The opening and closing balance of inventories are as below:
| Opening | Closing | |
| Finished goods | Rs. 40,000 | Rs. 45,000 |
| Work-in-progress | Rs. 25,000 | Rs. 20,000 |
| Raw materials | Rs. 40,000 | Rs, 50,000 |
The other information provided by the company for the month ended was as follows:
Purchase of raw material ……. Rs. 350,000
Direct labor cost ……. Rs. 420,000
Profit ……. 25% on sales
Factory overhead 50% of direct labor cost
Selling expenses 12% of factory cost
Administration overhead 15% of factory cost
Required:
Cost sheet [8]
View Accounting SET-A NEB Grade 12 Model Question 2079-2023.
