CBSE Class 12 2025 Accountancy 67-6-2 Question Paper Set-2: Download Solutions with Answer Key

CBSE CLASS XII Questions

• 1.

  Anubha and Yuvika were partners in a firm sharing profits and losses in the ratio of 3 : 2. From 1st April 2024, they decided to share future profits and losses in the ratio of 2 : 3. On this date, their balance sheet showed a balance of Rs 50,000 in General Reserve and a debit balance of Rs 2,50,000 in Profit and Loss Account. Partners decided to write off Profit and Loss Account but decided not to distribute the General Reserve. Pass the necessary journal entries for the above transactions on the reconstitution of the firm. Show your workings clearly.

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• 2.

  Aakash and Baadal entered into partnership on 1st October, 2023 with the capitals of Rs 80,00,000 and Rs 60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10\% per annum as per the provisions of the partnership deed. Baadal is given a guarantee that his share of profit, after charging interest on capital will not be less than Rs 7,00,000 per annum. Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March, 2024 amounted to Rs 13,00,000. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2024.
  

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• 3.

  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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• 4.

  Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows: 
  
  (i) Trisha's share of profit was entirely taken by Shanu. 
  (ii) Fixed assets were found to be undervalued by Rs 2,40,000. 
  (iii) Stock was revalued at Rs 2,00,000. 
  (iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement. 
  (v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be. 
  Prepare Revaluation Account and Partners' Capital Accounts. 

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• 5.

  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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• 6.

  On 31st March, 2024 following is the Balance Sheet of Bhavik Limited : 
  Bhavik Ltd. 
  

  
  Additional Information : 
  (i) During the year a piece of machinery costing Rs 8,00,000 accumulated depreciation thereon Rs 50,000 was sold for Rs 6,50,000 
  (ii) Debentures were redeemed on 31-03-2024. 
  Calculate: 
  (a) Cash flows from Investing Activities 
  (b) Cash flows from Financing Activities 
   

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