CBSE Class 12 2025 Accountancy 67-5-3 Question Paper Set-3: Download Solutions with Answer Key

CBSE CLASS XII Questions

• 1.

  Arun, Bashir and Joseph were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed \( \frac{1}{5} \)th from his share to Daksh, Daksh's share in the profits of the firm will be :
  

  • \( \frac{1}{5} \) 
     

  • \( \frac{1}{10} \) 
     

  • \( \frac{3}{10} \)
    
  • \( \frac{2}{5} \)
    
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• 2.

  Pulkit and Ravinder were partners in a firm sharing profits and losses in the ratio of 3 : 2. Sikander was admitted as a new partner for \( \frac{1}{5} \)th share in the profits of the firm. Pulkit, Ravinder and Sikander decided to share future profits in the ratio of 2 : 2 : 1. Sikander brought Rs 5,00,000 as his capital and Rs 10,00,000 as his share of premium for goodwill. The amount of premium for goodwill that will be credited to the old partners' capital accounts will be :
  

  • Pulkit's Capital Account Rs 10,00,000
    
  • Pulkit's Capital Account Rs 6,00,000 and Ravinder's Capital Account Rs 4,00,000
    
  • Pulkit's Capital Account Rs 5,00,000 and Ravinder's Capital Account Rs 5,00,000
    
  • Pulkit's Capital Account Rs 2,00,000
    
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• 3.

  Nandita and Prabha were partners in a firm. Nandita withdrew Rs 3,00,000 during the year for personal use. The partnership deed provides for charging interest on drawings @ 10\% p.a. Interest on Nandita's drawings for the year ended 31st March, 2024 will be :
  

  • Rs 9,000
    
  • Rs 30,000
    
  • Rs 18,000
    
  • Rs 15,000
    
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• 4.

  Bittu and Chintu were partners in a firm sharing profit and losses in the ratio of 4:3. Their Balance Sheet as at 31st March, 2024 was as   

  On $1^{\text {st }}$ April, 2024, Diya was admitted in the firm for $\frac{1}{7}$ share in the profits on the following terms:

  1. New profit sharing ratio between Bittoo, Chintoo and Diya will be $3:3:1$.
  2. Fixed Assets were found to be overvalued by ₹ 1,40,000.
  3. Creditors were paid ₹ 4,20,000 in full settlement.
  4. Diya brought proportionate capital and ₹ 5,60,000 as her share of goodwill premium by cheque.

  Prepare Revaluation Account and Partners' Capital Accounts.

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• 5.

  Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5:3. They admitted Maddy for \( \frac{1}{4} \)th share in future profits. Maddy brought Rs 8,00,000 as his capital and Rs 4,00,000 as his share of premium for goodwill. Kajal, Laura and Maddy decided to share profits in future in the ratio of 2:1:1. After all adjustments in respect of goodwill, revaluation of assets and liabilities etc. Kajal's capital was Rs 15,00,000 and Laura's capital was Rs 8,00,000. It was agreed that partners' capitals should be in proportion to their new profit sharing ratio taking Maddy's capital as base. The adjustment was made by bringing in or withdrawing the necessary cash as the case may be. The cash brought in by Kajal was:

  • Rs 1,00,000
    
  • Rs 8,00,000
    
  • Rs 16,00,000
    
  • Rs 12,00,000
    
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• 6.

  Preet and Saral were partners sharing profits and losses in the ratio of 3:2. On 31st March, 2024 they decided to change their profit sharing ratio to 1:1. On the date of reconstitution goodwill of the firm was valued at Rs 1,00,000. The journal entry for treatment of goodwill on account of change in profit-sharing ratio will be:
  

  • Preet's Capital A/c Dr. 1,00,000 To Saral's Capital A/c 1,00,000
    
  • Saral's Capital A/c Dr. 1,00,000 To Preet's Capital A/c 1,00,000
    
  • Preet's Capital A/c Dr. 10,000 To Saral's Capital A/c 10,000
    
  • Saral's Capital A/c Dr. 10,000 To Preet's Capital A/c 10,000
    
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