1. Home
  2. /
  3. CBSE
  4. /
  5. Class 12
  6. /
  7. Accountancy
  8. /
  9. CBSE Sample Papers Class...

CBSE Sample Papers Class 12 Accountancy 2025

by
myCBSEguide App

myCBSEguide App

Download the app to get CBSE Sample Papers 2024-25, NCERT Solutions (Revised), Most Important Questions, Previous Year Question Bank, Mock Tests, and Detailed Notes.

Install Now

  Class 12 Accountancy Sample Paper 2025

As the 2024-25 CBSE exams approach, students must stay ahead with the best study resources.  The myCBSEguide App provides access to a wide range of sample papers, chapter-wise practice tests, and NCERT solutions that align with the latest syllabus and exam format. Teachers using the Examin8 app can customize Accountancy sample papers for their students, featuring new formats and the 2025 CBSE syllabus. Whether you’re looking for mock tests, CBSE guess papers, or important question papers, the app offers everything you need for effective exam preparation. Teachers using the Examin8 app can customize Accountancy sample papers for their students, featuring new formats and the 2025 CBSE syllabus. Teachers can also make the most of the Examin8 App to create customized exam papers with personalized branding. Together, these apps empower both students and educators to enhance their preparation and performance in the upcoming 2024-25 CBSE exams. Accountancy is one of the core subjects in the commerce stream. Students can download the model question papers for CBSE Class 12 Accountancy 2025 Sample Papers from our student dashboard. These CBSE Sample Papers Class 12 Accountancy 2025 have some updates this year. We suggest students analyze the whole model paper question by question to understand these changes. myCBSEguide app offers access to updated CBSE Class 12 Accountancy Sample Papers 2025, so you can start practicing and boosting your confidence.

Class 12 Accountancy CBSE Sample Paper 2025 – in PDF

As you prepare for the 2025 CBSE exams, the myCBSEguide app is your ultimate resource for 2025 Class 12 CBSE Accountancy Sample Papers. You can easily access sample papers, chapter-wise tests, and NCERT solutions designed to align with the latest exam patterns. Download the Class 12 Accountancy Sample Paper 2025 now and practice real exam questions directly through the myCBSEguide mobile app. Whether you’re looking for updated Class 12 Accountancy Sample Paper 2025 CBSE to practice, detailed solutions to understand difficult concepts, or quick revision notes, myCBSEguide has you covered. For teachers, the Examin8 app makes it easy to create personalized Accountancy sample papers with custom branding. Simply visit the myCBSEguide website or download the app to start practicing with accurate and reliable materials. Don’t wait—equip yourself with the best tools for success and ensure you’re fully prepared for the 2025 CBSE exams!

Get ready for the Class 12 CBSE Accountancy with the latest sample papers featuring the updated marking scheme and blueprint released by CBSE. These sample papers are specifically designed to help students understand the exam pattern, structure, and scoring system for the 2025 CBSE board exams. Along with the sample papers, we provide detailed solutions and the official CBSE marking scheme, ensuring you are fully prepared for the upcoming exams.

Wondering how to prepare for the CBSE Class 12 Accountancy exams? These sample papers are a perfect resource, addressing the most frequently asked question: How to prepare for CBSE board exams. You can download the CBSE Sample Papers for Class 12 Accountancy 2025 in PDF format, complete with answers and solutions, directly from the myCBSEguide website or the myCBSEguide mobile app—completely free of charge.

Start preparing with the most accurate and up-to-date resources to boost your exam readiness. Visit the myCBSEguide website and app  now!

CBSE Sample Paper Class 12 Accountancy 2025

Download as PDF

CBSE Sample Papers Class 12 Accountancy 2025

Class 12 Accountancy Sample Paper

Class 12 – Accountancy
Sample paper – 01 (2024-25)

Maximum Marks: 80
Time Allowed: : 3 hours

General Instructions:

  1. This question paper contains 34 questions. All questions are compulsory.
  2. This question paper is divided into two parts, Part A and B.
  3. Part – A is compulsory for all candidates.
  4. Part – B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. Students must attempt only one of the given options.
  5. Question 1 to 16 and 27 to 30 carries 1 mark each.
  6. Questions 17 to 20, 31and 32 carries 3 marks each.
  7. Questions from 21 ,22 and 33 carries 4 marks each
  8. Questions from 23 to 26 and 34 carries 6 marks each
  9. There is no overall choice. However, an internal choice has been provided in 7 questions of one mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.
    1. Part A:- Accounting for Partnership Firms and Companies
    2. C, D and E were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted F as a new partner for {tex}\frac{1}{4}{/tex} share in the profits which was sacrificed by C, D and E in the ratio of 2 : 1 : 2. C’s new share in the profits will be:
      a) {tex}\frac 25{/tex}
      b) {tex}\frac 35{/tex}
      c) {tex}\frac {3}{10}{/tex}
      d) {tex}\frac {4}{20}{/tex}
    3. ________ is the basis of relationship between the partners to run the partnership business.
      a) Agreement
      b) Understanding
      c) Offer
      d) Acceptance
    4. Kiran Limited purchased machinery for ₹ 12,00,000 from Rohan Limited. The company paid the amount by issue of equity shares of ₹ 10 each at a premium of 20%. The number of shares to be issued to Rohan Limited will be:
      a) 1,80,000 shares
      b) 1,00,000 shares
      c) 1,20,000 shares
      d) 1,50,000 shares

      OR

      Sujata Ltd. issued 5,000, 7% Debentures of ₹ 100 each at a premium of 10%. According to the terms of issue, 40% of the amount was payable on application and the balance on allotment. The issue was fully subscribed and all amounts were duly received. The amounts received on application and allotment respectively were:

      a) ₹ 2,00,000 and ₹ 3,00,000
      b) ₹ 2,50,000 and ₹ 3,00,000
      c) ₹ 2,00,000 and ₹ 3,50,000
      d) ₹ 2,00,000 and ₹ 2,50,000
    5. S and T were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted U as a new partner in the firm. On U’s admission there existed a provision for bad and doubtful debts of ₹ 7,000. It was decided to write off ₹ 3,000 as bad debts. The remaining debtors were considered as good. The amount to be debited/credited to Revaluation Account on account of the above treatment will be:
      a) Debit ₹ 3,000
      b) Debit ₹ 7,000
      c) Debit ₹ 4,000
      d) Credit ₹ 4,000

      OR

      Asha and Deepti were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their fixed capitals were ₹ 3,00,000 and ₹ 2,00,000 respectively. They were entitled to interest on capital @ 10% p.a. The firm earned a profit of ₹ 20,000 during the year. The amount of interest on capital credited to Deepti will be:

      a) ₹ 8,000
      b) ₹ 12,000
      c) ₹ 5,000
      d) ₹ 20,000
    6. K and L were partners in a firm. Their partnership deed provided that interest on partner’s drawings will be charged @ 12% per annum. Interest on L’s drawings for the year ended 31.03.2022 was calculated at ₹ 900.
      The necessary journal entry for charging interest on L’s drawings will be:

      a)

      L’s Capital/Current A/cDr.₹ 900
      To Interest on Drawings A/c₹ 900

      b)

      Profit and Loss Appropriation A/cDr.₹ 900
      To Interest on Drawings A/c₹ 900

      c)

      Interest on Drawings A/cDr.₹ 900
      To Profit and Loss Appropriation A/c₹ 900

      d)

      Interest on Drawings A/cDr.₹ 900
      To Partner’s Capital/Current A/c₹ 900
    7. Rohit Limited issued 2,000, 9% Debentures of ₹ 100 each at ₹ 95 per debenture. 9% Debentures account will be credited by:
      a) ₹ 1,90,000
      b) ₹ 1,10,000
      c) ₹ 2,00,000
      d) ₹ 10,000

      OR

      Sunbeam Ltd. issued 20,000, 11% debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of 5%. The Loss on Issue of Debentures Account will debited by:

      a) ₹ 22,00,000
      b) ₹ 3,00,000
      c) ₹ 1,00,000
      d) ₹ 2,00,000
    8. A share of ₹ 10 issued at a premium of ₹ 2 per share on which ₹ 8 per share (including premium) have been called and ₹ 6 per share (including premium) is received, is forfeited. Share Capital Account will be debited by:
      a) ₹ 10
      b) ₹ 12
      c) ₹ 6
      d) ₹ 8
    9. Nidhi, Kunal and Kabir are partners in a firm sharing profits in the ratio of 2 : 1 : 2. Kunal retired and the balance in his capital account after making necessary adjustments on account of reserves, revaluation of assets and reassessment of liabilities was ₹ 80,000. Nidhi and Kabir agreed to pay him ₹ 1,00,000 in full settlement of his claim. Kunal’s share of goodwill of the firm, on his retirement was:
      a) ₹ 1,80,000
      b) ₹ 16,000
      c) ₹ 4,000
      d) ₹ 20,000

      OR

      Madhu and Radha were partners in a partnership firm sharing profits and losses in the ratio of 3:2. Madhu withdrew ₹ 20,000 in each quarter during the year ended 31.03.2023. Interest on drawings was to be charged @ 6% p.a. Interest on Madhu’s drawings will be:

      a) ₹ 1,800
      b) ₹ 4,800
      c) ₹ 3,000
      d) ₹ 2,400

 

  1. Question No. 9 to 10 are based on the given text. Read the text carefully and answer the questions:A and B are partners in a firm sharing profits equally. On 1st April, 2020, the capitals of the partners were ₹ 2,00,000 and ₹ 1,50,000 respectively. The Profit and Loss Appropriation Account of the firm showed a net profit of ₹ 3,75,000 for the year ended 31st March, 2021.
    The Partnership Deed provided the following:

     

    1. Transfer 10% of distributable profit to Reserve Fund.
    2. Interest on capital @ 6% p.a.
    3. Interest on drawings @ 6% p.a. Drawings for A and B were ₹ 40,000 and ₹ 30,000 respectively.
  2. What is the average period for which interest on drawings will be calculated?
    1. 3 months
    2. 6 months
    3. 9 months
    4. 12 months
    a) Option (iii)
    b) Option (iv)
    c) Option (ii)
    d) Option (i)
  3. Total interest on capital provided is ________.
    a) ₹ 9,000
    b) ₹ 21,000
    c) ₹ 18,000
    d) ₹ 12,000
    Prepare for Exams with the myCBSEguide App – Your Ultimate Study Companion

    Download the myCBSEguide App to access comprehensive study material for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams. This app provides everything you need to excel in your studies, with in-depth resources, practice questions, sample papers, and much more. Examin8 is perfect for teachers looking to create mock exams and accountancy sample papers for Class 12, including the 2025 syllabus. With the Examin8 app, educators can design personalized Class 12 Accountancy Sample Papers that match the 2025 CBSE guidelines.

    For teachers, the Examin8 App allows you to easily create customized exam papers, featuring your own name, logo, and branding.

    Start preparing smarter and faster today with myCBSEguide and Examin8 Website! tart preparing for the 2025 CBSE Class 12 Accountancy exam today by downloading free sample papers from the myCBSEguide website and app.

  4. P, Q and R are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. For the year ended 31st March, 2022, interest on capital was credited to them @ 10% p.a. instead of 5% p.a. Their fixed capitals were ₹ 2,00,000; ₹ 1,00,000; ₹ 50,000 respectively. The necessary adjustment entry to rectify the error will be:

    a)

    ParticularsDebit Amt. (₹)Credit Amt. (₹)
    (A)P’s Current A/cDr.2,000
    To Q’s Current A/c1,000
    To R’s Current A/c1,000

    b)

    ParticularsDebit Amt. (₹)Credit Amt. (₹)
    (C)P’s Current A/cDr.2,000
    To Q’s Current A/c1,000
    To R’s Current A/c1,000

    c)

    ParticularsDebit Amt. (₹)Credit Amt. (₹)
    (D)P’s Current A/cDr.3,000
    To Q’s Current A/c2,000
    To R’s Current A/c1,000

    d)

    ParticularsDebit Amt. (₹)Credit Amt. (₹)
    (B)P’s Current A/cDr.3,000
    To Q’s Current A/c2,000
    To R’s Current A/c1,000
  5. X Ltd. forfeited 100 shares of ₹ 10 each, ₹ 8 called-up for non-payment of allotment money of ₹ 5 per share (including premium of ₹ 2 per share). Out of these, 70 shares were reissued to Ashok as ₹ 8 called-up, for ₹ 10 per share. On forfeiture, Share Forfeiture Account will be:
    a) Debited by ₹ 200
    b) Credited by ₹ 700
    c) Credited by ₹ 500
    d) Debited by ₹ 500
  6. A company forfeited 400 shares of ₹ 10 each, ₹ 8 per share called up for non-payment of first call of ₹ 2 per share. On forfeiture of these shares, Share Capital account will be debited with:
    a) ₹ 4,000
    b) ₹ 3,200
    c) ₹ 2,000
    d) ₹ 800
  7. Josh and Jeevan were partners in a firm. During the year ended 31.03.2022 Jeevan withdrew ₹ 5,000 per month starting from 30.06.2021. The partnership deed provided that interest on drawings will be charged @ 12% per annum. The average number of months for which interest on Jeevan’s total drawings will be charged is:
    a) {tex}6 \frac{1}{2}{/tex} months
    b) 6 months
    c) {tex}4 \frac{1}{2}{/tex} months
    d) 5 months
  8. X and Z were partners in a firm with capitals of ₹ 45,000 each. They admitted Y as a new partner for {tex}\frac{1}{3}{/tex}rd share in the profits of the firm. Y brought ₹ 60,000 as his capital. Based on Y’s share in the profits of the firm and his capital contribution, the goodwill of the firm will be:
    a) ₹ 90,000
    b) ₹ 1,50,000
    c) ₹ 1,80,000
    d) ₹ 30,000

    OR

    Anu, Monu and Sonu were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Monu died on 1st January, 2022. Anu and Sonu will acquire Monu’s share in the ratio of:

    a) 3 : 2
    b) 5 : 3
    c) 5 : 2
    d) 1 : 1
  9. On dissolution of a partnership firm, furniture appearing in the Balance Sheet was ₹ 2,00,000. 50% of the furniture was taken over by a partner at ₹ 65,000 and balance 50% was sold at 20% less than the book value.
    The amount debited to bank account was:

    a) ₹ 65,000
    b) ₹ 80,000
    c) ₹ 1,85,000
    d) ₹ 1,45,000
  10. Rakshit and Malik are partners in a firm sharing profits and losses in the ratio of 4 : 1. On 1st April, 2021, their capitals were ₹ 1,20,000 and ₹ 80,000 respectively. On 1st December, 2021, they decided that the total capital of the firm should be ₹ 3,00,000 to be contributed by them in the ratio of 2 : 1.
    According to the partnership deed, interest on capital is allowed to the partners @ 6% p.a.
    Calculate interest on capital to be allowed for the year ending 31st March, 2022.
  11. On 01.04.2022, Ravi, Kavi and Avi started a partnership firm with fixed capitals of ₹ 6,00,000, ₹ 6,00,000 and ₹ 3,00,000 respectively. The partnership deed provided for the following:
    1. Interest on capital @ 10% per annum.
    2. Interest on drawings @ 12% per annum.
    3. An annual salary of ₹ 1,20,000 to Avi.
    4. Profits and losses were to be shared in the ratio of their capitals. The net profit of the firm for the year ended 31.03.2023 was ₹ 3,08,000. Interest on partners’ drawings was Ravi ₹ 4,800, Kavi ₹ 4,200 and Avi ₹ 3,000.

    Prepare Profit and Loss Appropriation Account of Ravi, Kavi and Avi for the year ended 31.03.2023.

    OR

    Yogesh, Ram and Rohit are partners. Each partner regularly withdrew ₹ 20,000 per month as given below:

    1. Yogesh withdrew in the beginning of the month;
    2. Ram withdrew in the middle of the month; and
    3. Rohit withdrew at the end of the month.
      Interest on drawings charged for the year ended 31st March, 2023 was ₹ 15,600, ₹ 14,400 and ₹ 13,200 respectively. Determine the rate of interest charged on drawings.
  12. Vels Ltd. purchased a running business of Viaz Enterprises for a sum of ₹ 12,00,000. Vels Ltd. paid ₹ 60,000 by drawing a promissory note in favour of Viaz Enterprises, ₹ 1,90,000 through bank draft and balance by issue of 8% Debentures of ₹ 100 each at a discount of 5%. The assets and liabilities of Viaz Enterprises consisted of Fixed Assets valued at ₹ 17,30,000 and Trade Payables at ₹ 3,20,000.
    You are required to pass necessary Journal entries in the books of Vels Ltd.

    OR

    A company forfeited 200 shares of ₹ 20 each, ₹ 15 per share called-up on which ₹ 10 per share had been paid. Directors reissued all the forfeited shares to B as ₹ 15 per share paid-up for a payment of ₹ 10 each.
    Give Journal entries in the books of the company for forfeiture and reissue of shares.

  13. A firm earned average profit of ₹ 3,00,000 during the last few years. The normal rate of return of the industry is 15%. The assets of the business were ₹ 17,00,000 and its liabilities were ₹ 2,00,000. Calculate the goodwill of the firm by capitalisation of average profits.
    Download the myCBSEguide App for comprehensive study resources, practice questions, and exam preparation material for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams. Whether you’re studying for school exams or competitive tests, the app offers everything you need to succeed. CBSE Class 12 Accountancy Sample Paper 2025 is now available for download on the myCBSEguide app with detailed solutions and analysis. You can now practice Class 12 Accountancy Sample Papers 2025 with a new CBSE marking scheme and blueprint available on the myCBSEguide app.

    For educators, the Examin8 App provides a simple way to design and customize exam papers, adding your own name, logo, and branding.

    Start preparing smarter and faster with myCBSEguide Website and Examin8 Website!

  14. Distinguish between Equity Share and Preference Share.
  15. Ravi, Kavi and Chand were partners sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2022, their Balance Sheet was as follows:

    Balance Sheet of Ravi, Kavi and Chand as on 31st March, 2022

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Sundry Creditors70,000Land and Building3,50,000
    Chand’s Loan20,000Stock3,00,000
    Mrs. Chand’s Loan20,000Debtors2,00,000
    Capitals:Less provision10,0001,90,000
    Ravi4,00,000Cash70,000
    Kavi3,00,000
    Chand1,00,0008,00,000
    9,10,0009,10,000

    The firm was dissolved on the above date.

    1. Land and Building and Stock were sold for ₹ 6,00,000. Debtors were realised at 10% less than the book value.
    2. Mrs. Chand’s loan was settled by giving her a computer of ₹ 22,000 not recorded in the books.
    3. Ravi paid off one of the creditors ₹ 20,000 in settlement of his amount of ₹ 30,000.
    4. Remaining creditors were paid in cash.

    Prepare Realisation Account.

  16. Zee Ltd. invited applications for issuing 3,40,000 equity shares of ₹ 10 each at a premium of ₹ 5 per share. The amount was payable as follows:
    On application ₹ 4 per share (including ₹ 2 premium)
    On allotment ₹ 5 per share (including ₹ 2 premium)
    On First and Final call – Balance.
    Applications for 6,00,000 shares were received. Application for 1,80,000 shares were rejected and application money was refunded. Shares were allotted on prorata basis to the remaining applicants. Excess money received with applications was adjusted towards sum due on allotment. Yamini who had applied for 2,100 shares failed to pay allotment money and her shares were forfeited immediately. Vani to whom 6,800 shares were allotted paid her entire share money due on allotment. Afterwards First and Final call was made and was duly received. Out of the forfeited shares 850 shares were reissued to Vansh at ₹ 8 per share fully paid up. Pass necessary journal entries for the above transactions in the books of the company by opening calls-in-arrears and calls-in-advance accounts.

    OR

    A Ltd. invited applications for issuing 1,00,000 shares of ₹ 10 each at a premium of ₹ 1 per share. The amount was payable as follows:

    On Application–₹ 3 per share;
    On Allotment–₹ 3 per share (including premium);
    On First Call–₹ 3 per share;
    On Second and Final Call–Balance amount.

    Applications for 1,60,000 shares were received. Allotment was made on the following basis:

    (i)To applicants for 90,000 shares–40,000 shares;
    (ii)To applicants for 50,000 shares–40,000 shares;
    (iii)To applicants for 20,000 shares–Full shares.

    Excess money paid on application is to be adjusted against the amount due on allotment and calls.
    Mayank, a shareholder, who applied for 1,500 shares and belonged to category (ii), did not pay allotment, first and second and final call money.
    Another shareholder, Kavita, who applied for 1,800 shares and belonged to category (i), did not pay the first and second and final call money.
    All the shares of Mayank and Kavita were forfeited and were subsequently reissued at ₹ 7 per share fully paid.
    Pass the necessary Journal entries in the books of A Ltd. Open Calls-in-Arrears Account and Calls-in-Advance Account wherever required.

  17. Alfa and Beta were partners in a firm. They were trading in artificial limbs. On 1st April, 2013 they admitted Gama, a good friend of Beta into the partnership, Gama lost his one hand in accident and Alfa and Beta decided to give one artificial hand free of cost to Gama. The balance sheet of Alfa and Beta as at 31st March, 2013 was as follows

    Balance Sheet
    as at 31st March, 2013

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Provision for Doubtful Debts40,000Cash1,00,000
    Workmen’s Compensation Fund56,000Sundry Debtors8,00,000
    Outstanding Expenses30,000Stock2,00,000
    Creditors3,00,000Machinery3,86,000
    Capital A/csProfit and Loss A/c40,000
    Alfa5,00,000
    Beta6,00,00011,00,000
    15,26,00015,26,000

    Gama was admitted in the firm on the following terms:

    1. Gama will bring ₹4,00,000 as his share of capital, but he was unable to bring any amount for goodwill.
    2. The new profit sharing ratio between Alfa, Beta and Gamma will be 3 : 2 : 1.
    3. Claim on account of workmen compensation was ₹30,000.
    4. To write off bad debts amounted to ₹40,000.
    5. Creditors were paid ₹20,000 more.
    6. Outstanding expenses be brought down to ₹12,000.
    7. ₹20,000 be provided for an unforeseen liability.
    8. Goodwill of the firm was valued at ₹1,80,000.
      Prepare revaluation account, capital accounts of partners and the opening balance sheet of the new firm. Also, identify anyone value which the partners wanted to communicate to the society.

    OR

    Lokesh, Mansoor and Nihal were partners in a firm sharing profits as 50%, 30% and 20% respectively. On 31st March, 2014, their balance sheet was as follows:

    LiabilitiesAmount
    (Rs)    		AssetsAmount
    (Rs)
    Creditors34,000Cash68,000
    Provident Fund10,000Stock38,000
    Investment Fluctuation Fund20,000Debtors                                                           94,000
    Capital A/cs:(-) Provision                                                      6,00088,000
    Lokesh                                              1,40,000Investments80,000
    Mansoor                                               80,000Goodwill40,000
    Nihal                                                     50,0002,70,000Profit and Loss20,000
    3,34,000
    =========    		3,34,000
    ========

    On the above date, Mansoor retired and Lokesh and Nihal agreed to continue on the following terms:

    1. Firm’s goodwill was valued at Rs 1,02,000 and it was decided to adjust Mansoor’s share of goodwill into the capital accounts of the continuing partners.
    2. There was a claim for workmen’s compensation to the extent of Rs 12,000 and investments were brought down to Rs 30,000.
    3. Provision for bad debts was to be reduced by Rs 2,000.
    4. Mansoor was to be paid Rs 20,600 in cash and the balance will be transferred to his loan account which was paid in two equal instalments together with interest @ 10% per annum.
    5. Lokesh’s and Nihal’s capitals were to be adjusted in their new profit sharing ratio by bringing in or paying off cash as the case may be.

    Prepare revaluation account and partners’ capital accounts.

  18. Radha, Manas and Arnav were partners in a firm sharing profits and losses in the ratio of 3 : 1 : 1. Their Balance Sheet as at 31st March, 2019 was as follows:

    Balance Sheet of Radha, Manas and Arnav
    as at 31st March, 2019

    Liabilities(₹)Assets(₹)
    Capitals:Furniture4,60,000
    Radha4,00,000Investments2,00,000
    Manas3,00,000Stock2,40,000
    Arnav2,00,0009,00,000Sundry Debtors2,20,000
    Investment Fluctuation
    Fund    		1,10,000Less: Provision for Doubtful Debts(10,000)2,10,000
    Creditors2,50,000Cash1,50,000
    12,60,00012,60,000

    Manas retired on 1st April, 2019. It was agreed that:

    1. Stock was to be appreciated by 20%
    2. Provision for doubtful debts was to be increased to ₹ 15,000.
    3. Value of furniture was to be reduced by ₹ 3,000.
    4. Market value of investments was ₹ 1,90,000.
    5. Goodwill of the firm was valued at ₹ 2,00,000 and Manas’s share was adjusted in the accounts of Radha and Arnav.
    6. Manas was paid ₹ 68,000 in cash and the balance was transferred to his loan account.
    7. Capitals of Radha and Arnav were to be in proportion to their new profit sharing ratio. Surplus/deficit, if any, in their capital accounts was to be adjusted through current accounts.

    Prepare Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of the reconstituted firm.

  19. Pass the necessary journal entries for the issue of 9% debentures in the following cases:
    1. Issued ₹ 5,00,000, 9% debentures of ₹ 100 each at par, redeemable at par, after three years.
    2. Issued 4,000, 9% debentures of ₹ 100 each at a discount of 3%, redeemable at a premium of 10% after five years.
    3. Issued 10,000, 9% debentures of ₹ 100 each issued at a premium of 20%, redeemable at a premium of 10% after five years.
  20. Part B :- Analysis of Financial Statements
  21. Horizontal Analysis is:
    a) Cross Section Analysis
    b) Profitability Analysis
    c) Time Series Analysis
    d) Vertical analysis

    OR

    Balance sheet and statement of profit and loss are together commonly referred to as:

    a) All of these
    b) Receipts and Payments Account
    c) Common Size Statements
    d) Financial Statements
  22. Which of the following is not an item under Current Assets?
    a) Cash and Cash Equivalents
    b) Inventories
    c) Capital Advances
    d) Short-term Loans and Advances
  23. Which of the following transactions will not result in flow of cash?
    a) Issue of Equity shares of ₹ 20,00,000 for cash
    b) Purchase of Building of ₹ 12,75,000 for cash
    c) Cash deposited into Bank ₹ 12,50,000
    d) Redemption of 8% Debentures of ₹ 7,50,000 for cash

    OR

    Which of the following transactions are shown under financing activities while preparing cash flow statement:

    1. Issue of Equity Shares
    2. Cash Received from Debtors
    3. Redemption of Debentures
    4. Cash Paid Against Trade Payables

    Choose the correct option:

    a) (i), (ii) and (iv)
    b) (i) and (iii)
    c) (i) and (ii)
    d) (i)
  24. Paid ₹ 7,00,000 to acquire shares in K.L. Ltd. and received a dividend of ₹ 20,000 after acquisition. These transactions will result in
    a) Cash used in Investing Activities ₹ 7,00,000.
    b) Cash generated from Financing Activities ₹ 6,80,000.
    c) Cash used in Investing Activities ₹ 6,80,000.
    d) Cash generated from Financing Activities ₹ 7,20,000.
  25. It is the process of identifying the financial strengths and weaknesses of the firm by properly establishing relationships between the various items of the Balance Sheet and the Statement of Profit and Loss. Identify the process and state two objectives of the process identified.
  26. A firm had current assets of 1,60,000. It then paid a current liability of ₹ 40,000. After this payment, the current ratio was 2 : 1. Determine:
    1. The size of Current Liabilities and Working Capital after the payment.
    2. Also, determine the size of these two items before the payment was made.
  27. From the following information prepare Comparative Balance Sheet of X Ltd.:
    Particulars31-3-2023
    Amount
    ₹    		31-3-2022
    Amount
    ₹
    Share Capital25,00,00025,00,000
    Reserves and Surplus6,00,00010,00,000
    Long-term Borrowings16,00,00015,00,000
    Current Liabilities5,00,0004,50,000
    Fixed Assets35,00,00025,00,000
    Investments (Non-Current)10,50,00015,00,000
    Current Assets6,50,00014,50,000

    OR

    Prepare Comparative Statement of Profit and Loss from the following :

    Particulars31st March 2013(Rs.)31st March 2012(Rs.)
    Revenue from Operations12,50,00010,00,000
    Cost of Materials Consumed6,50,0005,00,000
    Other Expenses60,00050,000

    Interest on Investments @ RS. 30,000 and Taxes Payable @ 50%.

  28. Read the following hypothetical text and answer the given question on this basis:
    Madhav is a young entrepreneur. On 1st April, 2019, he formed a partnership firm with two of his friends, Mohan and Sohan. They started their business of exporting dry fruits. Their business was a successful business. Now they wanted to expand the business in many other countries. For meeting the financial requirements, they changed the form of business organisation and formed Madhav Ltd. The Balance Sheet of Madhav Ltd. as at 31.3.2022 was as follows:

    Balance Sheet of Madhav Ltd. as at 31st March, 2022

    ParticularsNote
    No.    		31.3.2022
    ₹    		31.3.2021
    ₹
    I – Equity and Liabilities:
    1. Shareholders’ Funds
    (a) Share Capital35,00,00025,00,000
    (b) Reserves and Surplus
    (Statement of P & L)    		12,50,00010,00,000
    2. Non-Current Liabilities
    Long-term Borrowings
    (10% Debentures)    		12,50,0003,50,000
    3. Current Liabilities
    (a) Short-term Borrowings
    (Bank Overdraft)    		50,00075,000
    (b) Trade Payables2,50,0001,50,000
    (c) Short-term Provisions11,50,00075,000
    Total64,50,00041,50,000
    II-Assets:
    1. Non-Current Assets
    Fixed Assets
    (a) Tangible Assets240,00,00022,50,000
    (b) Intangible Assets
    (Goodwill)    		3,50,0005,00,000
    2. Current Assets
    (a) Inventories6,25,0005,00,000
    (b) Trade Receivables12,50,0007,50,000
    (c) Cash and Cash Equivalents2,25,0001,50,000
    Total64,50,00041,50,000

    Notes to Accounts:

    Note
    No.    		Particulars31.3.2022
    Amount (₹)    		31.3.2021
    Amount (₹)
    1Short term Provisions
    Provision for Tax1,50,00075,000
    2Tangible Assets
    Plant and Machinery44,00,00025,00,000
    Less Accumulated Depreciation(4,00,000)(2,50,000)
    40,00,00022,50,000

    Additional Information:

    1. A part of the machine costing ₹ 1,25,000 accumulated depreciation thereon being ₹ 50,000 was sold for ₹ 45,000 during the year.
    2. Interest of ₹ 1,25,000 was paid on Debentures.

    Calculate cash flows from Investing activities and Financing activities of Madhav Ltd. form the information provided above.

Download the myCBSEguide App to unlock a wealth of study resources, practice questions, and sample papers for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams. This comprehensive app provides everything you need to prepare effectively and score high in your exams. Stay ahead of the curve with updated CBSE Class 12 Accountancy Sample Papers 2025, available on the myCBSEguide app with solutions and the official marking scheme.

For educators, the Examin8 App allows you to easily create customized test papers, practice exams, and mock tests with your own name and logo, offering a personalized touch to your teaching materials. For students aiming for top marks in Class 12 Accountancy, the myCBSEguide app offers the most reliable sample papers and solutions for the 2025 exams.

Elevate your exam preparation with myCBSEguide and Examin8 today!

Class 12 – Accountancy
Sample paper – 01

Solution

  1. Part A:- Accounting for Partnership Firms and Companies
  2. (a) {tex}\frac 25{/tex}
    Explanation: {tex}\frac 25{/tex}
  3. (a) Agreement
    Explanation: Agreement
  4. (b) 1,00,000 shares
    Explanation: 12,00,000 / 12
    =1,00,000 shares

    OR

    (c) ₹ 2,00,000 and ₹ 3,50,000
    Explanation: ₹ 2,00,000 and ₹ 3,50,000
    Amount received on application = 5,000{tex}\times{/tex} 40 = 2,00,000
    Amount received on allotment = 5,000 {tex}\times{/tex} 70 (60+10(premium)) = 3,50,000

  5. (d) Credit ₹ 4,000
    Explanation: Credit ₹ 4,000

    OR

    (a) ₹ 8,000
    Explanation: Interest on Capital
    Asha = {tex}300000 \times \frac{10}{100} \Rightarrow 30000{/tex}
    Deepti {tex}= 200000 \times \frac{19}{100}=20000{/tex}
    Totel Interest on Copital {tex}\Rightarrow{/tex} 30000 + 20000 = 50000
    Dipti Interest on capital {tex}=\frac{20000}{50000} \times 20000{/tex}
    = 8000

  6. (a)
    L’s Capital/Current A/cDr.₹ 900
    To Interest on Drawings A/c₹ 900

    Explanation:

    L’s Capital/Current A/cDr.₹ 900
    To Interest on Drawings A/c₹ 900
  7. (c) ₹ 2,00,000
    Explanation: ₹ 2,00,000 (2000×100)

    OR

    (c) ₹ 1,00,000
    Explanation: The Loss on Issue of Debentures Account will debited by:₹ 1,00,000

  8. (c) ₹ 6
    Explanation: ₹ 6
    Share capital account debited with called up amount = ₹ 10 – 4 = ₹ 6
  9. (d) ₹ 20,000
    Explanation: ₹ 20,000

    OR

    (d) ₹ 2,400
    Explanation: ₹ 2,400

  10. (c)

    Option (ii)

    Explanation:

    6 months

  11. (b)

    ₹ 21,000

    Explanation:

    ₹ 21,000

    Ace Your Exams with the myCBSEguide App – Your Ultimate Study Resource

    Download the myCBSEguide App today to access a wide range of study materials, practice questions, and sample papers for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams. This all-in-one app offers comprehensive resources to help you prepare effectively and perform at your best. The Examin8 app lets teachers create personalized Class 12 Accountancy Sample Papers 2025 tailored to their specific syllabus needs.

    For educators, the Examin8 App enables you to design customized test papers, mock exams, and practice assessments with personalized branding, including your name and logo.

    Start preparing smarter and achieving better results with myCBSEguide and Examin8 now! For comprehensive exam preparation, download CBSE Class 12 Accountancy Sample Paper 2025 in PDF format from the myCBSEguide website.

  12. (d)
    ParticularsDebit Amt. (₹)Credit Amt. (₹)
    (B)P’s Current A/cDr.3,000
    To Q’s Current A/c2,000
    To R’s Current A/c1,000

    Explanation:

    ParticularsDebit
    Amt. (₹)    		Credit
    Amt. (₹)
    (B)P’s Current A/cDr.3,000
    To Q’s Current A/c2,000
    To R’s Current A/c1,000

    Table showing Adjustment

    ParticularsPQRfirm
    Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.
    Wrong interest on capital
    @5% (10% – 5%)    		10,0005,0002,50017,500
    Rectify Profit7,0007,0003,50017,500
    10,0007,0005,0007,0002,5003,50017,50017,500
    3,000
    Dr.    		2,000
    Cr.    		1,000
    Cr.
  13. (c) Credited by ₹ 500
    Explanation: Credited by ₹ 500
    share forfeiture account credited with the amount received from the shareholder
    (100 {tex}\times{/tex}(8 – 3) ) = ₹ 500
  14. (b) ₹ 3,200
    Explanation: ₹ 3,200
  15. (c) {tex}4 \frac{1}{2}{/tex} months
    Explanation: {tex}4 \frac{1}{2}{/tex} months
  16. (d) ₹ 30,000
    Explanation: ₹ 30,000

    OR

    (c) 5 : 2
    Explanation: 5 : 2
    At the time of death of a partner remaining partner taken share of deceased partner in their old ratio.

  17. (b) ₹ 80,000
    Explanation: ₹ 80,000
    Amount debited to bank Account are :-
    = 2,00,000 – 1,00,000 (Half furniture taken over by partner)
    Remaining furniture = 1,00,000
    = 1,00,000 – (1,00,000 {tex}\times{/tex}{tex}\frac{20}{100}{/tex})
    = 1,00,000 – 20,000
    = 80,000
  18. Calculation of Interest on Capital
    Rakshit(₹)
    Interest on Capital from 1 April 2021 to 30 Nov. 2021
    {tex}\frac{6}{100} \times \frac{8}{12} \times{/tex} 1,20,0004,800
    Interest on Capital from 1 Dec. 2021 to 31 March 2022
    {tex}\frac{6}{100} \times \frac{4}{12} \times{/tex} 2,00,0004,000
    Interest on Capital8,800
    Malik(₹)
    Interest on Capital from 1 April 2021 to 30 Nov. 2021
    {tex}\frac{6}{100} \times \frac{8}{12} \times{/tex} 80,0003,200
    Interest on Capital from 1 Dec. 2021 to 31 March 2022
    {tex}\frac{6}{100} \times \frac{4}{12} \times{/tex} 1,00,000 Interest on Capital2,000
    5,200

  19. Profit and Loss Appropriation A/c
    for the year ended 31.3.2023

    Dr.Cr.
    ParticularsAmount (₹)ParticularsAmount (₹)
    To Partners’ Current A/c’sBy Profit & Loss A/c (Net Profit)3,08,000
    Interest on capitalBy Partners’ Current A/c’s
    Ravi60,000Interest on drawings
    Kavi60,000Ravi4,800
    Avi30,0001,50,000Kavi4,200
    To Avi’s Current A/c’sAvi3,00012,000
    Salary1,20,000
    To Partners’ Current A/c’s
    Divisible Profit
    Ravi20,000
    Kavi20,000
    Avi10,00050,000
    3,20,0003,20,000

    OR

    Calculation of Percentage of Interest on Yogesh Drawings
    Average month = {tex}\frac{12+1}{2}{/tex} = {tex}\frac{13}{2}{/tex} = 6.5 month
    Interest on Yogesh Drawings = Drawings {tex}\times{/tex} Percentage {tex}\times{/tex} {tex}\frac{avg\ month}{12}{/tex}
    15,600 = 20,000 {tex}\times{/tex} 12 {tex}\times{/tex} {tex}\frac{Percentage}{100}\times\frac{6.5}{12}{/tex}
    Percentage = {tex}\frac{15600\times12\times100}{20,000\times12\times6.5}{/tex}
    = 12%
    Calculation of Percentage of Interest on Ram Drawings
    Average month = {tex}\frac{11.5+0.5}{2}{/tex} = {tex}\frac{12}{2}{/tex} = 6 month
    Interest on Ram Drawings = Drawings {tex}\times{/tex} Percentage {tex}\times{/tex} {tex}\frac{avg\ month}{12}{/tex}
    14,400 = 20,000 {tex}\times{/tex} 12 {tex}\times{/tex} {tex}\frac{Percentage}{100}\times\frac{6}{12}{/tex}
    Percentage = {tex}\frac{14400\times12\times100}{20,000\times12\times6}{/tex}
    = 12%
    Calculation of Percentage of Interest on Rohit’s Drawings
    Average month = {tex}\frac{11+0}{2}{/tex} = {tex}\frac{11}{2}{/tex} = 5.5 month
    Interest on Rohit Drawings = Drawings {tex}\times{/tex} Percentage {tex}\times{/tex} {tex}\frac{avg\ month}{12}{/tex}
    13,200 = 20,000 {tex}\times{/tex} 12 {tex}\times{/tex} {tex}\frac{Percentage}{100}\times\frac{5.5}{12}{/tex}
    Percentage = {tex}\frac{13200\times12\times100}{20,000\times12\times5.5}{/tex}
    = 12%

  20. In the books of Vels Ltd.
    JOURNAL ENTRIES

    DateParticularsL.F.Dr. (₹)Cr. (₹)
    Fixed Assets A/cDr.17,30,000
    To Trade Payables A/c3,20,000
    To Viaz Enterprises12,00,000
    To Capital Reserve A/c (Balancing Figure)2,10,000
    (Assets purchased and liabilities taken over of Viaz Enterprises)
    Viaz EnterprisesDr.12,00,000
    Discount on Issue of Debentures A/cDr.50,000
    To Bills Payable A/c60,000
    To Bank A/c1,90,000
    To 8% Debentures A/c10,00,000
    (Issue of bank draft, acceptance of bill and issue of 8% Debentures in settlement of purchase consideration)

    Working Note:
    Number of Debentures Issued = 950000/95= 10,000

    OR

    JOURNAL

    DateParticularsL.F.Dr. (₹)Cr. (₹)
    Share Capital A/c (200 {tex}\times{/tex} ₹ 15)Dr.3,000
    To Forfeited Shares A/c2,000
    To Calls-in-Arrears A/c1,000
    (200 shares forfeited due to non-payment of call money)
    Bank A/c (200 {tex}\times{/tex} ₹ 10)Dr.2,000
    Forfeited Shares A/c (200 {tex}\times{/tex} ₹ 5)Dr.1,000
    To Share Capital A/c3,000
    (Reissue of forfeited shares as ₹ 15 per share paid-up for payment of ₹ 10 each)
    Forfeited Shares A/cDr.1,000
    To Capital Reserve A/c1,000
    (Gain (profit) on reissue transferred to Capital Reserve)
  21. Actual profits = ₹ 3,00,000
    Capitalised value of the firm = {tex}\frac{Average\ Profits}{ Normal\ rate\ of\ return}{/tex} {tex}\times{/tex} 100
    = ₹ {tex}\frac { 3,00,000} { 15 }{/tex} {tex} \times{/tex} 100 = ₹ 20,00,000
    Net Assets = Assets – Liabilities
    = ₹ 17,00,000 – ₹ 2,00,000 = ₹ 15,00,000
    Goodwill = Capitalised value of the firm – Capital Employed
    = ₹ 20,00,000 – ₹ 15,00,000 = ₹ 5,00,000
    Get the myCBSEguide App today and access an extensive collection of study resources, practice questions, and mock exams for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams. The app offers everything you need to strengthen your concepts, track your progress, and boost your exam performance. Students preparing for the 2025 CBSE Class 12 Accountancy Sample Paper 2025 in the app to boost their confidence.

    Teachers can also use the Examin8 App to create personalized exam papers, practice tests, and mock assessments with their own name, logo, and branding.

    Take charge of your exam preparation with myCBSEguide and Examin8—download now and start preparing smarter! Get your hands on the latest Class 12 Accountancy Sample Paper 2025 to practice and improve your exam strategy, available for free on myCBSEguide.

  22. BasisPreference SharesEquity shares
    Dividend ratePreference share holders are paid dividend at a fixed rate.The rate of dividend on equity shares vary from year to year depending upon profits
    Redemption dividendThey can be redeemedThey can’t be redeemed.
    Payment of dividendThese shares have a Preferential right to receive dividend before any dividend is paid on equity shares.Payment of dividend is made after paying to Preference share holders.
    Arrears of DividendGet accumulated for cumulative preference sharesNo accumulation
    Winding upHave a right to return of capital before equity shares . This means they are safer.Only paid when preference share capital is paid fully
    Voting RightsNo voting rightsVoting rights
    Right to participate in ManagementHave no rightHave right

  23. Realisation A/c

    DrCr
    ParticularsAmount (₹)ParticularsAmount (₹)
    To Land & Building A/c3,50,000By Provision for Doubtful Debts A/c10,000
    To Stock A/c3,00,000By Creditors A/c70,000
    To Debtors A/c2,00,000By Mrs. Chand’s Loan20,000
    To Ravi’s Capital A/c20,000By Cash A/c
    To Cash (Remaining creditor)40,000Land & Building and stock6,00,000
    Debtors1,80,0007,80,000
    By Loss transferred to
    Partners’ Capital A/c’s:
    Ravi15,000
    Kavi9,00030,000
    Chand6,000
    9,10,0009,10,000

  24. Zee Ltd.
    Journal

    DateParticularsL.F.Dr. (₹)Cr. (₹)
    Bank A/cDr.24,00,000
    To Equity Share Application A/c24,00,000
    (Application money received on 6,00,000 shares)
    Equity Share Application A/cDr.24,00,000
    To Equity Share Capital A/c6,80,000
    To Securities Premium Reserve A/c6,80,000
    To Equity Share Allotment A/c3,20,000
    To Bank A/c7,20,000
    (Application money adjusted towards capital, share allotment, premium and excess refunded)
    Equity Share Allotment A/cDr.17,00,000
    To Equity Share Capital A/c10,20,000
    To Securities Premium Reserve A/c6,80,000
    (Allotment money due including premium)
    Bank A/cDr.14,20,800
    To Equity Share Allotment A/c13,80,000
    To Calls in Advance40,800
    (Allotment money received except on 1,700 shares and advance received of first and final call)
    OR
    Bank A/cDr.14,13,900
    Calls in arrears A/cDr.6,900
    To Equity Share Allotment A/c13,80,000
    To Calls in Advance A/c40,800
    (Allotment money received except on 1,700 shares)
    Alternate entry:
    Bank A/cDr.13,73,100
    Calls in arrears A/cDr.6,900
    To Equity Share Allotment A/c13,80,000
    (Allotment money received)
    Equity Share Capital A/cDr.8,500
    Securities Premium Reserve A/cDr.3,400
    To Share Forfeiture A/c5,000
    To Equity Share Allotment A/c6,900
    (Yamini’s shares forfeited for non payment of allotment money)
    Alternatively:
    Equity Share Capital A/cDr.8,500
    Securities Premium Reserve A/cDr.3,400
    To Share Forfeiture A/c5,000
    To Calls in arrears A/c6,900
    (Yamini’s shares forfeited for non payment of allotment money)
    Equity Share First and Final call A/c (3,38,300{tex}\times{/tex}6)Dr.20,29,800
    To Equity Share Capital A/c (3,38,300{tex}\times{/tex}5)16,91,500
    To Securities Premium Reserve A/c (3,38,500{tex}\times{/tex}1)3,38,300
    (Share First and final call due)
    Bank A/cDr.19,89,000
    Calls in advance A/cDr.40,800
    To Equity Share First and Final call A/c20,29,800
    (First and final call money received except on 6,800 shares)
    Alternate entry:
    Bank A/cDr.20,29,800
    To Equity Share First and Final call A/c20,29,800
    (First and final call money received except on 6,800 shares)
    Bank A/cDr.6,800
    Share Forfeiture A/cDr.1,700
    To Equity Share Capital A/c8,500
    (Shares reissued for ₹ 8 per share fully paid)
    Share Forfeiture A/cDr.800
    To Capital Reserve A/c800
    (Gain on reissue of forfeited shares transferred to capital reserve)

    OR

    Working Note:

    Shares appliedShares appliedMoney received n application @ ₹ 3Money transferred to share capital Excess Money adjusted in allotment
    90,00040,0002,70,0001,20,0001,20,000
    50,00040,0001,50,0001,20,00030,000
    20,00020,00060,00060,000____
    1,60,0001,00,0004,80,0003,00,0001,50,000
    1. Calculation of Calls-in-arrears on Mayank’s Shares
      Allotment due (1,200 {tex}\times{/tex} 3) = 3,600
      (-) Excess on application (1,500 – 1200) {tex}\times{/tex} 3 = (900)
      = ₹ 2,700
    2. Calculation of Calls-in-arrears on First Call
      Amount due (2,000 {tex}\times{/tex} 3) = 6,000
      (-) Excess on application
      Adjusted on allotment (1,800 – 800) {tex}\times{/tex} 3 – 2,400 = (600)
      = ₹ 5,400
    3. Calculation of Amount Forfeited
      Mayank (1,500 {tex}\times{/tex} 3)4,500
      Kavita (1,800 {tex}\times{/tex} 3)5,400
      (-) Excess adjusted(800)4,600
      Total amount forfeited9,100

    JOURNAL ENTRIES

    DateParticularsL.F.Dr. (₹)Cr. (₹)
    Bank A/c (1,60,000 {tex}\times{/tex} 3)Dr4,80,000
    To Equity Share Application A/c
    (Being application money received)    		4,80,000
    Equity Share Application A/cDr4,80,000
    To Equity Share Capital A/c3,00,000
    To Equity Share Allotment A/c1,50,000
    To Calls-in-advance A/c
    (Being application money transferred to share capital account)    		30,000
    Equity Share Allotment A/cDr3,00,000
    To Equity Share Capital A/c2,00,000
    To Securities Premium Reserve A/c
    (Being allotment money due)    		1,00,000
    Bank A/cDr1,47,300
    Calls-in-arrears A/cDr2,700
    To Equity Share Allotment A/c
    (Being allotment money received except on 1,200 shares)    		1,50,000
    Equity Share First Call A/cDr3,00,000
    To Equity Share Capital A/c
    (Being first call money due)    		3,00,000
    Bank A/cDr2,64,600
    Calls-in-advance A/cDr30,000
    Calls-in-arrears A/c (₹ 3,600 + ₹ 1,800)Dr5,400
    To Equity Share First Call A/c
    (Being second and final call money received)    		3,00,000
    Equity Share Second and Final Call A/cDr2,00,000
    To Equity Share Capital A/c
    (Being second and final call money due)    		2,00,000
    Bank A/cDr1,96,000
    Calls-in-arrears A/c (2,000 {tex}\times{/tex}₹ 2)Dr4,000
    To Equity Share Second and Final Call A/c
    (Being second and final call money received)    		2,00,000
    Share Capital A/cDr20,000
    Securities Premium Reserve A/cDr1,200
    To Calls-in-arrears A/c12,100
    To Share Forfeiture A/c
    (Being 2,400 shares forfeited)    		9,100
    Bank A/cDr14,000
    Share forfeited A/cDr6,000
    To Share Capital A/c
    (Being 2,000 forfeited share re-issued)    		20,000
    Share forfeited A/cDr3,100
    To Capital Reserve A/c
    (Being forfeited amount transfer to capital reserve)    		3,100

  25. Revaluation A/c

    Dr.Cr.
    ParticularsAmount (₹)ParticularsAmount (₹)
    To Creditors20,000By Outstanding Expenses18,000
    To Unforeseen Liability20,000By Loss on Revaluation Transferred to
    Alfa’s Capital A/c
    Beta’s Capital A/c
    11,000
    40,00040,000

     Partner’s Capital A/c

    Dr.Cr.
    ParticularsAlfa Amount (₹)Beta Amount (₹)Gama Amount (₹)ParticularsAlfa Amount (₹)Beta Amount (₹)Gama Amount (₹)
    To Beta’s Capital30,000By Balance c/d5,00,0006,00,000
    To Revaluation A/c11,00011,000By Workmen’s Compensation Fund A/c13,000
    To P & L A/c20,00020,000By Cash4,00,000
    To Balance c/d4,82,0006,12,0003,70,000By Gama’s Capital A/c30,000
    5,13,0006,43,0004,00,0005,13,0006,43,0004,00,000

    Balance Sheet
    as on 1st April, 2013

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Outstanding Expenses (30,000 – 18,000)12,000Cash500,000
    Creditors3,20,000
    Workmen Compensation Fund30,000Sundry Debtors7,60,000
    Unforeseen Liability20,000Stock2,00,000
    Capital A/csMachinery3,86,000
    Alfa 4,82,000Gama’s current A/C30,000
    Beta6,12,000
    Game4,00,00014,94,000
    19,16,00019,16,000

    Value conveyed by the partners is care and concern towards differently abled persons.
    Working Note

    Cash A/c

    Dr.Cr.
    ParticularsAmount (₹)ParticularsAmount (₹)
    To Balance b/d1,00,000By Creditors (3,00,000 + 20,000)3,20,000
    To Gama’s Capital A/c4,00,000By Balance c/d1,80,000
    5,00,0005,00,000

    Calculation of Sacrificing Ratio
    Sacrificing Ratio = Old Share – New Share
    Alfa = {tex}\frac { 1 } { 2 } – \frac { 3 } { 6 } = \frac { 3 – 3 } { 6 } = \text { Nil, Beta } = \frac { 1 } { 2 } – \frac { 2 } { 6 } = \frac { 3 – 2 } { 6 } = \frac { 1 } { 6 }{/tex}

    OR

    Revaluation Account

    Particulars

    Amount

    (Rs)

    		Particulars

    Amount

    (Rs)

    To Workmen’s Compensation Claim A/c12,000By Provision for Bad Debts A/c2,000
    To Investment A/c30,000By Loss Transferred to Capital A/cs
    Lokesh                                                                  20,000
    Mansoor                                                               12,000
    Nihal                                                                       8,00040,000
    42,000
    =====    		42,000
    ======

    Partners’ Capital Account

    ParticularsLokesh
    Amount
    (Rs)    		Mansoor
    Amount
    (Rs)    		Nihal
    Amount
    (Rs)    		ParticularsLokesh
    Amount
    (Rs)    		Mansoor
    Amount
    (Rs)    		Nihal
    Amount
    (Rs)
    To Profit and Loss A/c10,0006,0004,000By Balance b/d1,40,00080,00050,000
    To Goodwill A/c20,00012,0008,000By Lokesh’s Capital A/c21,857
    To Revaluation A/c (Loss)20,00012,0008,000By Nihal’s Capital A/c8,743
    To Mansoor’s Capital A/c21,8578,743By Cash A/c(Balancing Figure)4,286
    To Cash A/c20,600
    To Mansoor’s Loan A/c60,000
    To Cash A/c(Balancing Figure)4,286
    To Balance c/d63,85725,543
    1,40,000
    =======    		1,10,600
    ======    		54,286
    =====    		1,40,000
    ======    		1,10,600
    =======    		54,286
    ======

    Working Note:Whenever a partner exits a partnership, the books of accounts of such a firm have to be settled. The outgoing partner or his legal representatives have to be paid their dues. This means a revaluation of assets and liabilities must be done. Share of goodwill is to be calculated, and the adjusted capital after retirement is to be calculated.
    Calculation of Share of Goodwill
    Mansoor’s share of goodwill = 1,02,000 {tex}\times \frac { 3} { 10 } {/tex}= Rs 30,600, to be contributed by Lokesh and Nihal in gaining ratio i.e., 5 : 2
    Lokesh will pay = 30,600 {tex}\times \frac { 5 } { 7 } {/tex} = Rs 21,857; Nihal will pay = 30,600 {tex}\times \frac { 2 } { 7 } {/tex}= Rs 8,743
    Calculation of Capital of New Firm after Mansoor’s Retirement
    Lokesh’s capital after adjustment = 68,143
    Nihal’s capital after adjustment = 21,257
    Total Capital = 89,400
    Lokesh’s new capital = 89,400 {tex}\times \frac 57{/tex}= Rs 63,857
    Nihal’s new capital = 89,400 {tex}\times \frac 27{/tex} = Rs 25,543

  26. REVALUATION ACCOUNT

    Dr.Cr.
    Particulars(₹)Particulars(₹)
    To Furniture3,000By Stock48,000
    To Provision for doubtful debts5,000
    To Profit transferred to partners capital A/c
    Radha’s Capital A/c24,000
    Manas’s Capital A/c8,000
    Arnav’s Capital A/c8,00040,000
    48,00048,000

    Partner’s Capital Account 

    Dr.Cr.
    ParticularsRadha (₹)Manas (₹)Arnav (₹)ParticularsRadha (₹)Manas (₹)Arnav (₹)
    To Manas’s Capital A/c30,000____10,000By balance b/d4,00,0003,00,0002,00,000
    To Cash A/c____68,000____By Investment Fluctuation Reserve60,00020,00020,000
    To Manas’s loan____3,00,000____By Revaluation A/c24,0008,0008,000
    To Balance c/d4,54,000____2,18,000By Radha Capital A/c____30,000____
    By Arnav Capital A/c____10,000____
    4,84,0003,68,0002,28,0004,84,0003,68,0002,28,000
    To Arnav’s Current A/c________50,000By balance b/d4,54,000____2,18,000
    To balance c/d5,04,000____1,68,000By Radha’s current A/c50,000________
    5,04,0002,18,0005,04,0002,18,000

    Balance Sheet of the reconstituted firm
    as on 1st April 2019

    Liabilities(₹)Assets(₹)
    Capital A/c of partnersFurniture4,57,000
    Radha5,04,000Investments1,90,000
    Arnav1,68,0006,72,000Stock2,88,000
    Manas’s Loan3,00,000Debtors2,20,000
    Arnav’s Current A/c50,000Less Provision for doubtful debts(15,000)2,05,000
    Creditors2,50,000Cash82,000
    Radha’s Current A/c50,000
    12,72,00012,72,000

    Adjusted Capital of:
    Arnav = ₹ 4,54,000
    Radha = ₹ 2,18,000
    Total = ₹ 6,72,000
    Arnav’s capital = ₹ 6,72,000 {tex}\times{/tex} {tex}\frac 34{/tex} = ₹ 5,04,000
    Radha’s capital = ₹ 6,72,000 {tex}\times{/tex} {tex}\frac 14{/tex} = ₹ 1,68,000

  27. case (a)
    ParticularL.FDr(₹)Cr(₹)
    Bank A/cDr.5,00,000
    To Debenture Application and Allotment A/c5,00,000
    (Debenture Issued at par)
    Debenture Application & Allotment A/cDr.5,00,000
    To 9% Debenture A/c5,00,000
    (Debenture amount transferred)

    case (b)

    ParticularL.FDr(₹)Cr(₹)
    Bank A/cDr.3,88,000
    To Debenture Application & Allotment A/c3,88,000
    (amount received on application and allotment)
    Debenture Application & AllotmentDr.3,88,000
    Discount on Issue of Debenture A/cDr.12,000
    Loss on Issue of Debenture A/cDr.40,000
    To 9% Debenture A/c4,00,000
    To Premium on Redemption40,000
    (amount transferred to 9% debenture)

    case (c)

    ParticularL.FDr(₹)Cr(₹)
    Bank A/cDr.12,00,000
    To Debenture Application & Allotment12,00,000
    (amount received on application and allotment)
    Debenture Application & Allotment A/cDr.12,00,000
    Loss on Issue of Debenture A/cDr.1,00,000
    To 9% Debenture A/c10,00,000
    To Premium on Redemption1,00,000
    To Security Premium2,00,000
    (amount transferred to 9% debenture)
  28. Part B :- Analysis of Financial Statements
  29. (c) Time Series Analysis
    Explanation: Horizontal analysis is a time series analysis because it shows comparison of financial data for several years.

    OR

    (d) Financial Statements
    Explanation: financial statements as it tells about financial performance and position

  30. (c) Capital Advances
    Explanation: Capital Advances
  31. (c) Cash deposited into Bank ₹ 12,50,000
    Explanation: Cash deposited into Bank ₹ 12,50,000

    OR

    (b) (i) and (iii)
    Explanation: (i) and (iii)

  32. (c) Cash used in Investing Activities ₹ 6,80,000.
    Explanation: Cash used in Investing Activities ₹ 6,80,000.
    = 7,00,000(amount paid for purchase of share) – 20,000 (dividend received on share)
    = 6,80,000
  33. the process is Analysis of financial statements.
    Objectives of Analysis of financial statements:

    1. to assess the current profitability and operational efficiency of the firm as a whole as well as its different departments so as to judge the financial health of the firm.
    2. to ascertain the relative importance of different components of the financial position of the firm.
  34. Current Ratio {tex}=\frac{\text { Current Assets }}{\text { Current Liabilities }}{/tex}
    Current Assets = ₹ 2,00,000
    Current Assets after the payment is ₹ 2,00,000 – ₹ 40,000 = ₹ 1,60,000
    current ratio is 2 : 1, therefore,
    Current Liabilities {tex}=\frac{₹ 1,60,000}{2}{/tex} = ₹ 80,000
    Working Capital = Current Assets – Current Liabilities
    = ₹ 1,60,000 – ₹ 80,000 = ₹ 80,000
    Current liabilities before the payment of ₹ 40,000 must be ₹ 80,000 + ₹ 40,000 = ₹ 1,20,000
    Working capital before the payment of ₹ 40,000 must be ₹ 2,00,000 – ₹ 1,20,000 = ₹ 80,000

  35. X Ltd.
    COMPARATIVE BALANCE SHEET OF X LTD.
    as at 31st March, 2022 and 2023

    ParticularsNote No.31st March, 2022 (₹)31st March, 2023 (₹)Absolute change (Increase/Decrease)Percentage Change (Increase/Decrease)
    I.EQUITY AND LIABILITIES
    1.Shareholders’ Funds
    (a) Share Capital25,00,00025,00,000________
    (b) Reserves and Surplus10,00,0006,00,000(4,00,000)(40.00)
    2.Non-Current Liabilities
    Long-term Borrowings15,00,00016,00,0001,00,0006.67
    3.Current Liabilities4,50,0005,00,00050,00011.11
    TOTAL54,50,00052,00,000(2,50,000)(4.59)
    II.ASSETS
    1.Non-Current Assets
    (a) Property, Plant and Equipment and Intangible Assets25,00,00035,00,00010,00,00040.00
    (b) Non-current Investments15,00,00010,50,000(4,50,000)(30.00)
    2.Current Assets14,50,0006,50,000(8,00,000)(55.17)
    TOTAL54,50,00052,00,000(2,50,000)(4.59)

    OR

    Comparative Statement of Profit and Loss
    for the years ended 31st March 2012 and 2013

    Particulars31st March 2012
    Amount
    (Rs.)    		31st March 2013
    Amount
    (Rs.)    		Absolute Change
    (Increase/ Decrease)
    Amount
    (Rs.)    		Percentage Change
    (Increase/ Decrease)
    (%)
    (A)(B)(C = B – A)(D = {tex}\frac{\text{C}}{\text{A}}\times 100{/tex})
    I. Revenue from Operations10,00,00012,50,0002,50,00025.00
    II. Other income(Interest on Investments)30,00030,000——
    III.Total Revenue10,30,00012,80,0002,50,00024.27
    IV. Expenses:
    (a) Cost of Raw Materials Consumed5,00,0006,50,0001,50,00030.00
    (b) Other Expenses50,00060,00010,00020.00
    V.Total Expenses:5,50,0007,10,0001,60,00029.09
    VI.Net Profit before Tax(III – V)4,80,0005,70,00090,00018.75
    VII. Less: Tax Payable2,40,0002,85,00045,00018.75
    VIII. Net Profit after Tax2,40,0002,85,00045,00018.75

    A comparative income statement combines information from several income statements as columns in a single statement. It helps you identify financial trends and measure performance over time. You can compare different accounting periods from your records. Or, you can compare your income statement to other companies.

  36. Cash flows from Investing activities

    ParticularsDetailsAmount (₹)
    Sale of machinery45,000
    Purchase of machinery(20,25,000)
    Cash used in investing activities(19,80,000)

    Cash flows from Financing activities

    ParticularsDetailsAmount (₹)
    Issue of shares10,00,000
    10% Debentures issued9,00,000
    Interest on debentures paid(1,25,000)
    Payment of Bank Overdraft(25,000)
    Cash flows from Financing activities17,50,000

    Working notes:

    Plant & Machinery A/c

    Dr.Cr.
    Particulars₹Particulars₹
    To Balance b/d25,00,000By Accumulated Depreciation A/c50,000
    To Bank A/c
    (Purchase-Bal. Fig)    		20,25,000By Bank A/c45,000
    By Statement of P & L (Loss on sale A/c)30,000
    By Balance c/d44,00,000
    45,25,00045,25,000

    Accumulated Depreciation A/c

    Dr.Cr.
    Particulars₹Particulars₹
    To Machinery A/c50,000By Balance b/d2,50,000
    To Balance c/d4,00,000By Depreciation A/c2,00,000
    4,50,0004,50,000

Ace Your Exams with the myCBSEguide App

Download the myCBSEguide App for comprehensive study materials, practice questions, and exam prep resources for CBSE, NCERT, JEE (Main), NEET-UG, and NDA exams.The myCBSEguide app features a wide variety of  CBSE Class 12 Accountancy Sample Papers 2025, ensuring you cover all topics before your exams. The app offers everything you need to sharpen your skills, gain confidence, and improve exam performance with interactive tests and study plans tailored to your needs.

For teachers, the Examin8 App allows you to easily create personalized exam papers, practice quizzes, and mock exams with your custom name and logo, making it easier to assess and track student progress.

Enhance your exam readiness for CBSE Class 12 Accountancy Sample Papers2025 by practicing with the myCBSEguide app, offering structured sample papers and test materials.

Download myCBSEguide and Examin8 today to enhance your study routine and maximize your exam success!

Download myCBSEguide App

Sample Papers for Class 12 2025

Download Sample Papers for Class 12 with myCBSEguide App

Visit myCBSEguide for a comprehensive set of CBSE Class 12 Accountancy Sample Papers 2025 designed to align with the latest CBSE exam pattern.

Looking for sample papers for Class 12 Accounts, Chemistry, Biology, History, Political Science, Economics, Geography, Computer Science, Home Science, Accountancy, Business Studies, and more? Visit the myCBSEguide App or website to access a wide variety of sample papers tailored for CBSE students.

The myCBSEguide App provides not only sample papers with solutions but also chapter-wise test papers for focused practice, NCERT solutions, NCERT Exemplar solutions, quick revision notes, CBSE guess papers and important question papers. These resources are designed to help students prepare thoroughly for exams and boost their performance. Visit the myCBSEguide website today to access free CBSE Class 12 Accountancy Sample Papers 2025, complete with solutions and exam strategies.

Download the myCBSEguide App or visit our website myCBSEGuide to access the best study materials, sample papers, and exam resources for Class 12 CBSE students.

myCBSEguide App

Test Generator

Create question paper PDF and online tests with your own name & logo in minutes.

Create Now
myCBSEguide App

myCBSEguide

Question Bank, Mock Tests, Exam Papers, NCERT Solutions, Sample Papers, Notes

Install Now

Related Posts

Leave a Comment