CBSE Class 12 Accountancy Question Paper 2026 Available- Download Pdf with Solutions

1.

Hari, Murari and Abhi were partners in a firm sharing profits and losses in the ratio of 8 : 7 : 4. Murari retired from the firm on 31st March, 2025. Hari and Abhi decided to share profits in the future in the ratio of 2 : 1. The gaining ratio of Hari and Abhi was:

• 1 : 2
  
• 8 : 7
  
• 2 : 1
  
• 7 : 4
  

2.

Namita, Narendra and Kunwar were partners in a firm sharing profits and losses in the ratio of 3 : 1 : 1. The firm closes its books on 31st March every year. Kunwar died on 30th September, 2025. His share in the profits of the firm from 1st April, 2025 to 30th September, 2025 was calculated as per the provisions of the partnership deed which amounted to ₹ 15,600. On the date of Kunwar's death, the Balance Sheet of the firm showed General Reserve of ₹ 40,000 and Profit and Loss Account (Dr.) ₹ 80,000. Pass necessary journal entries on Kunwar's death in the books of the firm.

3.

Arora and Gurmeet were partners in a firm sharing profits and losses in the ratio of 3 : 2. Starting from 1st October, 2024 Arora withdrew ₹ 30,000 at the beginning of each quarter for his personal use. Interest on drawings was to be charged @ 12% per annum. Interest on Arora's drawings for the year ended 31st March, 2025 was:

• ₹ 1,800
  
• ₹ 2,700
  
• ₹ 450
  
• ₹ 3,600
  

4.

John, Honey and Racob were partners in a firm sharing profits and losses equally. On 31st July, 2025 John died. His share in the profits of the firm from the date of last balance sheet till the date of his death will be:

• Debited to Profit and Loss Account
  
• Credited to Profit and Loss Account
  
• Debited to Profit and Loss Suspense Account
  
• Credited to Profit and Loss Suspense Account
  

5.

Naisha, Mansi and Aakash were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 2. On 1st January, 2025, Aakash advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership deed, the amount of interest on loan due to Aakash on 31st March, 2025 will be :

• ₹ 18,000
  
• ₹ 4,500
  
• ₹ 9,000
  
• ₹ 30,000
  

6.

Shashi, Maya and Komal were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2025 Komal retired. The new profit sharing ratio between Shashi and Maya was decided as 3 : 5. The gain or sacrifice of Shashi and Maya on Komal's retirement was :

• Shashi's sacrifice \( \frac{1}{8} \) ; Maya's gain \( \frac{13}{40} \)
  
• Shashi's gain \( \frac{1}{8} \) ; Maya's sacrifice \( \frac{13}{40} \)
  
• Shashi's sacrifice \( \frac{1}{8} \) ; Maya's sacrifice \( \frac{13}{40} \)
  
• Shashi's gain \( \frac{1}{8} \) ; Maya's gain \( \frac{13}{40} \)
  

7.

Aashree and Manvi were partners in a firm and their capitals were ₹ 6,00,000 and ₹ 4,00,000 respectively. Normal rate of return in a similar business was 15% and the goodwill of the firm was valued at ₹ 3,00,000. If goodwill was calculated at three years purchase of super profits, the average profits of the firm were :

• ₹ 1,00,000
  
• ₹ 45,000
  
• ₹ 2,50,000
  
• ₹ 1,50,000
  

8.

Aastha, Diya and Mohit were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 31st March, 2025 their Balance Sheet was as follows: Balance Sheet of Aastha, Diya and Mohit as at 31st March, 2025

Aastha retired from the firm on the above date on the following terms:

• [(i)] Goodwill of the firm was valued at ₹ 2,00,000 and the same was to be treated without opening goodwill account.
• [(ii)] Revaluation of assets and reassessment of liabilities resulted in a loss of ₹ 60,000.
• [(iii)] Amount payable to Aastha was transferred to her loan account.

Pass necessary journal entries for goodwill, general reserve and revaluation of assets and reassessment of liabilities on Aastha's retirement.

9.

Sudama, Sharma and Varun were partners in a firm sharing profits and losses in the ratio of 6 : 4 : 3. Sharma retired from the firm on 31st March, 2025. The gaining ratio of Sudama and Varun will be:

• 3 : 2
  
• 2 : 1
  
• 1 : 2
  
• 2 : 3
  

10.

From the following information obtained from the books of 'Ajanta Ltd.', calculate Cash from Operations: Net Profit for the year ended 31st March, 2025 after charging depreciation of ₹ 80,000 and after writing off goodwill ₹ 10,500 was ₹ 4,90,000. Additional Information:

11.

There are two statements Assertion (A) and Reason (R):
Assertion (A): At the time of admission of a new partner in a partnership firm, the newly admitted partner brings an agreed amount of capital either in cash or in kind.
Reason (R): On admission, the new partner gets the right to acquire share in the assets and profits of the partnership firm.
Choose the correct option from the following:

• Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
  
• Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
  
• Assertion (A) is correct, but Reason (R) is incorrect.
  
• Assertion (A) is incorrect, but Reason (R) is correct.
  

12.

Kiara Ltd. purchased assets worth ₹ 12,40,000 and took over liabilities of ₹ 3,40,000 of Amrex Ltd. for a purchase consideration of ₹ 11,00,000. Kiara Ltd. paid half the amount by cheque. The balance amount was settled by issuing 9% debentures of ₹ 100 each at a premium of 10%.
Pass necessary journal entries for the above transactions in the books of Kiara Ltd.

13.

Sujata and Laxmi were partners in a firm sharing profits and losses in the ratio of 2 : 1. On 1st April, 2025, they admitted Raghu as a new partner for 1/5th share in the profits of the firm. On the date of Raghu’s admission, it was found that the equipment is undervalued by ₹ 90,000. After revaluation, the Balance Sheet of Sujata, Laxmi and Raghu showed equipment at ₹ 3,00,000. The value of equipment shown in the books of the firm of Sujata and Laxmi before Raghu’s admission was :

• ₹ 3,90,000
  
• ₹ 2,10,000
  
• ₹ 3,00,000
  
• ₹ 90,000
  

14.

Munna and Sonu were partners in a firm sharing profits and losses in the ratio of 4 : 1. Their fixed capitals were ₹ 40,00,000 and ₹ 30,00,000 respectively. During the year ended 31st March, 2025, Munna withdrew ₹ 50,000 for personal use. Interest on drawings was to be charged @ 6% p.a. The journal entry for charging interest on Munna’s drawings will be :

• A
• B
• C
• D

15.

Guru and Prakash were partners in a firm sharing profits and losses in the ratio of 7 : 3. They admitted Anu as a new partner for 1/4th share in the profits of the firm. On the date of Anu's admission, the Profit and Loss Account of Guru and Prakash showed a credit balance of ₹ 40,000. The necessary journal entry for its treatment will be:

• A
• B
• C
• D