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6th March 2016, 12:07 PM
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Join Date: Apr 2013
Re: CA CPT Question Paper Dec

Please find below the CA CPT Question paper for the examination held in the month of December 2015:

CA - CPT - December 2015 Question Paper

1. On 2-03-2015, 50,000, 10% debentures of Rs.100 each are issued at a discount of 5%. On 10-3-2015, 80,000 , 6% preference shares of Rs.100 each are redeemed at a premium of 10% along with one month dividend. On 22-03-2015, 40, 000 equity shares of Rs.100 each are issued at a premium of 15%. On 28-02-15,
bank balance was Rs.6,34,000. What is the bank balance on 31-03-2015?
a) Rs.11,84,000
b) Rs.11,44,000
c) Rs.7,04,000
d) Rs.16,34,000

2. P, Q, and R are partners sharing profits and losses in the ratio of 3:2:1. R retired. Future profit sharing ratio is 2:1. There was a joint life policy of Rs.6,00,000 with a surrender value of Rs.80,000. What will be the treatment in the Partner’s Capital A/c’s, if JLP is maintained at surrender value along with reserve?
a) Rs.6,00,000 to be distributed to all the
partners in old ratio
b) Rs.5,20,000 to be distributed to all the
partners in old ratio
c) Rs.80,000 to be distributed to all the
partners in old ratio
d) Distribute JLP reserve account in old profit
sharing ratio.

3. An investment of Rs.22,000 was not recorded in the books of account. The adjustment entry will be.
a) Revaluation A/c Dr 22,000
To Investment A/c 22,000
b) Investment A/c Dr 22,000 To Revaluation A/c 22,000
c) Partners Capital A/c’s Dr 22,000 To Revaluation A/c 22,000
d) None of the above

4. 1,500 boxes costing Rs.10 each were sent on consignment. Rs.12,000 spent on freight. A loss of 10% is unavoidable. Calculate the cost of each box.
a) Rs.20
b) Rs.10
c) Rs.18
d) Rs.15

5. Which of the following are not the methods of preparing the trial balance?
a) Totals method
b) Balances method
c) Differences method
d) Totals & Balances method

6. At the time of valuation of goodwill, weighted average price method is followed, if the profits
of the firm are ____
a) In increasing trend
b) In decreasing trend
c) Either a) or b)
d) None of the above

7. From the following information calculate the amount received from debtors.
• Opening balance of cash Rs.56,000
• Bills discounted Rs.21,000
• Bills payable honoured Rs.14,000
• Cash purchases Rs.1,26,000
• Other Expenses Rs.1,84,000
• Payment to Creditors Rs.2,32,000
• Cash sales Rs.3,95,000
• Closing balance of cash Rs.47,000
a) Rs.1,31,000
b) Rs.1,10,000
c) Rs.1,24,000
d) Rs.1,45,000

8. Out of the following which is not the external factor of depreciation?
a) Effluxion of time
b) Accidents
c) Natural Wear and tear
d) Obsolescence

9. Match the following
Group – 1 Group – 2
1) AS 15 a) Borrowing costs
2) AS 16 b) Employees benefits
3) AS 17 c) Segment reporting
4) AS 18 d) Related party disclosures
a) 1-c; 2-a; 3-b, 4-d b) 1-a; 2-b; 3-c, 4-d
c) 1-b; 2-a; 3-c, 4-d d) 1-d; 2-c; 3-b, 4-a

10. In the balance sheet of a company, capital work in progress is shown under the head __
a) Shareholders Funds
b) Fixed Assets
c) Current Liabilities
d) Current Assets

11. A bill is drawn by X on 06-03-2015, for a period of 30 days after sight. It is accepted on 10-03- 2015. The due date of the bill will be ___
a) 04-04-15
b) 08-04-15
c) 09-04-15
d) 12-04-15

12. Which of the following statements are true about discount columns of cashbook?
a) Not balanced
b) Not an account
c) They are totaled and transferred to respective discount paid / received A/cs.
d) All of the above

13. Securities premium cannot be used for ___
a) The issue of bonus shares
b) Writing off discount on issue of debentures.
c) Writing off losses of the company.
d) Writing off preliminary expenses

14. Contingent liability is ____
a) Not recognized b) Recognized
c) A provision
d) A liability

15. Fixed deposit is a ____ A/c according to traditional approach and ____ A/c according to accounting equation approach.
a) Capital, Profit
b) Profit, Capital
c) Asset, Real
d) Real, Asset


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