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Dear grade 12 students out there! Namaste. Today, we present you the Accounting SET-B NEB Grade 12 Model Question 2079-2023 with subject code: 1041 and you can download the neb grade xii (12) Accounting SET-B subject question paper of the year 2079-2023 in PDF format. Please check and download pdf file grade 12 Accounting SET-B Model question paper of the year 2023-2079 Nepal. The model question provided below – Accounting SET-B 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-B Model Question 2079-2023 of grade 12-xii in pdf format which is 711 kb in size. Enjoy!
Accounting SET-B NEB Grade 12 Model Question 2079-2023.
NATIONAL EXAMINATIONS BOARD [NEB]
NEB Grade XII-12
2079-2023
Model Question
Accounting
SET-B
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.
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Attempt all the questions
Very short answer questions: (11×1=11)
1. Mention any two important documents of a company.
2. Write the meaning of called up capital.
3. List out any two limitations of financial statements.
4. Write the meaning of contract costing.
5. Write the meaning of semi variable overhead.
6. Give the meaning of purchase order.
7. Mention any two disadvantages of time rate system of wages payment.
8. Define account masters.
9. Prepare adjustment entry for depreciation on furniture Rs.20,000
10. Find out the cash collection from sales, if sales is Rs.600,000 during the year and increase in debtors by Rs. 40,000)
11. If annual Consumption is 7,000 units & number of order is 5 times. Find out the Economic Order Quantity (EOQ).
Group B
Short Answer Questions: (8×5=40)
12. A company forfeited 800 shares out of 5,000 shares @Rs.100 each issued at 10% premium due to non-payment of first and final call money of Rs.30. These shares were subsequently re-issued at Rs.85 per shares as fully paid up.
Required:
Entries for Share final call, forfeiture, Re-issue and Transfer [2+1+1+1]
13.
a. X Company purchased the following assets of Y Company at an agreed price of Rs. 550,000.
Machinery Rs.300,000
Debtors Rs.100,000
Inventories Rs.150,000
X Company paid the purchase price by issuing shares of Rs. 100 each at a premium of 10%.
Required:
Entry for purchase of above assets by issuing shares) [2]
b. P Company Ltd issued 5,000, 9% Debenture of Rs 100 each at 10% discount and redeemable at 10% premium after 5 years.
Required:
Journal entries for issue and redemption of debentures [1+1+1=3]
14. The following is the information of Pashupati Co. Ltd. as on 31st March 2021
| Particulars | (Rs.) | Particulars | (Rs.) |
| Purchase | 2,75,000 | Sales | 5,30,000 |
| Insurance | 24,000 | Interest received | 5,000 |
| Rent | 10,000 | Salary | 36,000 |
| Opening Stock | 80,000 | General Expenses | 20,000 |
| Wages | 1,75,000 | Selling Expenses | 15,000 |
Additional Information:
i.Closing stock Rs. 80,000 at market price and Rs.70,000 as cost price.
ii. Depreciation on fixed assets Rs. 10,000
iii. Provision for taxation Rs.7,000
Required: [2+3]
a. Trading Account
b. Profit and Loss Account
15. Trial balance of a company Ltd as on last year ended is as follows:
| Debit | Rs | Credit | Rs |
| Purchase | 9,00,000 | Sales | 12,00,000 |
| Opening Stock | 1,00,000 | Creditors | 80,000 |
| Wages | 50,000 | Share Capital | 2,00,000 |
| Rent | 40,000 | Profit and Loss Account | 20,000 |
| Salaries | 24,000 | ||
| Cash | 86,000 | ||
| Fixed Assets | 2,00,000 | ||
| Debtors | 1,00,000 | ||
| Total | 15,00,000 | Total | 15,00,000 |
Additional Information:
1. Depreciations on fixed assets :15%
2. k|:tfljt nfef+z (Proposed dividend) :12%
Required: [5]
12 column worksheet
16. Give the meaning of cost accounting, and mention any three objectives of cost accounting. [5]
17.
a. Write about centralized store. [2]
b. The following information is available of a manufacturing company:
| Details | Units | Unit Cost |
| Beginning Inventory | 2,000 | Rs. 100 |
| Purchase | ||
| March 02 | 3,000 | Rs. 110 |
| June 10 | 4,000 | Rs. 120 |
| August 15 | 2,500 | Rs. 130 |
| December 22 | 1,500 | Rs. 150 |
During the year, inventory issued (Sales) 10,000 units
Required:
Cost of goods sold and cost of closing stock under weighted average method using periodic inventory system [3]
18.
a. Standard time to produce each unit of output is 4 hours. A worker produced 200 units during the months. Wages rate per hour is Rs. 80.
Required:
Total wages for the month [2]
b. Following facts were discovered from cost and financial accounting:
a. Net profit as per financial account Rs 77,000
b. Over valuation of opening stock in cost account Rs.20,000.
c. Administrative expenses under absorbed in cost account Rs.30,000.
d. Dividend received recorded in financial account Rs. 20,000
Required:
Cost reconciliation statement [3]
19. Write in brief the uses of computer in accounting. [5]
Group C
Long answer questions: [3×8=24]
20. The Trial balance of a company limitedas on last year is given):
| Particulars | Debit (Rs.) | Particulars | Credit (Rs.) |
| Opening Stock | 1,50,000 | Share Capital | 3,00,000 |
| Wages | 40,000 | 10% Bank Loan | 1,50,000 |
| Purchase | 4,50,000 | Commission | 20,000 |
| Rent | 30,000 | Creditors | 80,000 |
| Interest on bank loan | 10,000 | Profit and Loss account | 50,000 |
| Salaries | 60,000 | Sales | 6,15,000 |
| Furniture | 1,00,000 | ||
| Debtors | 80,000 | ||
| Bad debts | 10,000 | ||
| Carriage | 5,000 | ||
| Prepaid Insurance | 15,000 | ||
| Machinery | 2,00,000 | ||
| Cash | 25,000 | ||
| Goodwill | 40,000 | ||
| Total | 12,15,000 | Total | 12,15,000 |
Additional information: [HA=22m]
a. Stock at close :Rs.210,000.
b. Outstanding wages :Rs.5,000
c. Pre-paid Insurance expired :Rs. 10,000
d. Provision for tax :Rs. 10,000
Income statement and classified Balance Sheet [4+4]
21. The Balance Sheet and income statement of A Ltd. are given below:
| Liabilities | 5th Year | 6th Year | Assets | 5th Year | 6th Year |
| Share capital | 2,00,000 | 3,00,000 | Furniture | 2,00,000 | 2,60,000 |
| Debenture | 1,50,000 | 1,30,000 | Land | 1,30,000 | 1,45,000 |
| Creditors | 1,40,000 | 1,50,000 | Stock | 1,80,000 | 2,00,000 |
| Bank overdraft | 1,20,000 | 1,10,000 | Debtors | 1,30,000 | 1,20,000 |
| Retained earnings | 1,40,000 | 1,60,000 | Cash | 1,10,000 | 1,25,000 |
| Total | 7,50,000 | 8,50,000 | Total | 7,50,000 | 8,50,000 |
| Items | Rs. | |
| Sales | 78,00,000 | |
| Less: Cost of goods sold | 67,00,000 | |
| Gross Margin | 11,00,000 | |
| Less: Operating Expenses | 10,40,000 | |
| Depreciation | 20,000 | |
| Premium on redemption of Debenture | 1,000 | |
| Loss on sale of furniture (Book value Rs. 20,000) | 5,000 | 10,66,000 |
| Net Income | 34,000 |
Other information:
a. Sale of furniture for Rs. 15,000 and purchase of Furniture for Rs.100,000
b. Dividend paid for the year: Rs.14,000
Required:
Cash flow statement using indirect method) [4+1+2+1]
22. Cost information for manufacturing a product is given below:
Direct Material) : 20,000 kgs @ Rs. 10 per kg
Direct Labour cost : 80% of cost material
Factory overhead : Rs.64,000
Administrative overhead : Rs.42,400
The following estimations were made for submitting a tender:
The estimated cost of materials is) Rs.30,000
Direct labour) Rs.24,000
(Factory overhead are absorbed on the basis of direct labour)
(Administrative overheads are absorbed on the basis of factory cost)
(A profit of 20% on selling price is estimated)
Required: [3+5]
A Statement of Cost and Tender Sheet
View Accounting SET-B NEB Grade 12 Model Question 2079-2023.
