ACCOUNTANCY (055)

SAMPLE QUESTION PAPER

Class XII (2025-26)

TIME 3 HOURS MAX. MARKS 80

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.

Part - A
S.N Marks
o.
Part A :- Accounting for Partnership Firms and Companies
1. A partner’s capital account was credited with ₹80,000 during the year. Which of the following 1
can be the possibility for such a credit in his capital account?
A. Opening Balance B. Drawings during the year
C. Loss during the year D. Capital introduced

OR

Assertion (A) :- Fluctuating Capital Account can show debit balance.

Reason (R) :- Losses and Drawings can be more than Capital Balance.
A. Both A and R are correct and R is the correct explanation of A
B. Both A and R are correct but R is not the correct explanation of A
C. A is correct but R is incorrect
D. Both A and R are incorrect.
st
2. On 1 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio [Link]. 1
C was guaranteed that his share of profits will not be less than ₹ 60,000 p.a. Deficiency if any
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ₹
1,25,000. Deficiency will be borne by A and B will be:
A. A ₹ 30,000 and B ₹ 30,000 B. A ₹ 43,750 and B ₹ 26,250
C. A ₹ 42,500 and B ₹ 42,500 D. A ₹ 35,000 and B ₹ 35,000
3. Pali Limited offered 2,00,000 shares of ₹ 10 each at a premium of ₹ 2 per share. Applications 1
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ₹3 on
Application (including ₹1 premium), ₹ 6 on Allotment (including ₹1 premium) and balance on
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were
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 immediately forfeited. Out of the forfeited shares, 4,000 shares were re-issued @ ₹ 11 per
share as fully paid up. The amount of Capital Reserve will be:
A. ₹ 16,000 B. ₹ 12,000 C. ₹ 8,000 D. ₹ 18,000
OR
Prafful Limited forfeited 15,000 shares of ₹ 20 each on which ₹ 8 (including ₹ 2 premium) was
paid. Out of these 13,000 shares were re-issued @ ₹ 19 per share as fully paid up. Determine
the amount of Share Forfeited balance.
A. ₹ 90,000 B. ₹ 91,000 C. ₹ 12,000 D. ₹ 16,000
4. Pista Ltd. took over running business of Vista Ltd. comprising of Assets of ₹ 45,00,000 and 1
Liabilities of ₹ 7,50,000 and in consideration issued them 30,000, 9% debentures of ₹ 100 each
at 5% discount and a cheque of ₹ 10,00,000. Determine the amount of Goodwill or Capital
Reserve.
A. Goodwill ₹ 9,00,000 B. Capital Reserve ₹ 9,00,000
C. Goodwill ₹ 1,00,000 D. Capital Reserve ₹ 1,00,000
OR
Dawn Ltd. purchased Equipment and paid ₹ 2,20,000 by cheque and issued 16,000 equity
shares of ₹ 10 each at 25% premium. The purchase consideration will be:
A. ₹ 3,40,000 B. ₹ 4,20,000 C. ₹ 3,80,000 D. ₹ 2,00,000
5. Bala and Lala were partners in a firm with Capitals of ₹ 24,00,000 and 16,00,000. They admitted 1
Mala as a new partner for 1/3 share for which Mala brings ₹ 20,00,000 as capital. There was
Investment and Investment Fluctuation Reserve appearing in the books of ₹ 2,50,000 and ₹
50,000 respectively. Bala took over 40% of the Investments at ₹ 80,000 and remaining
Investments were valued at ₹ 1,10,000. By what amount Revaluation account will be affected
for the above information?
A. Debited ₹ 60,000 B. Credited with ₹ 60,000
C. Debited ₹ 10,000 D. Credited ₹ 10,000
6. Jai and Veeru were in a partnership sharing Profit &Loss in the ratio 5:3. Their Capitals were ₹ 1
10,00,000 and ₹ 8,00,000 respectively. The firm was also having reserves of ₹ 7,00,000. Normal
rate of return was 10%. Firm made average profits of ₹ 2,30,000 for the year ended March 31,
2025 (after adjustment of loss of machinery of book value of ₹2,00,000 by fire against which
insurance claim of ₹1,50,000 was admitted). Value of goodwill as per Capitalisation of super
profits will be:
A. ₹ 10,00,000 B. ₹ 3,00,000 C. ₹ 18,00,000 D. Nil.
st
7. On 1 August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ₹5,00,000 1
each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025,
Tyke withdrew ₹ 80,000. What amount of Interest on drawings will be charged from Tyke?
A. ₹ 4,800 B. ₹ 1,600 C. ₹ 3,200 D. ₹ 2,400
8. A, B and C were partners sharing Profits &Losses in the ratio [Link]. B died. A took over 1/20 1
from his share and remaining share was taken over by C. Determine the new Profit sharing
Ratio.
A. 4 : 1 B. 7 : 1 C. 71 : 29 D. 3 : 1
OR
X, Y and Z were partners sharing Profit & Losses in the ratio [Link]. Y retired, and he gifted half
of his share to X and remaining half was taken over equally by X and Z. Determine the new
Profit-sharing Ratio.
A. 29 : 11 B. 13 : 7 C. 1 : 1 D. 5 : 2
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 9. X, a partner was assigned to look after the dissolution process and was allowed remuneration 1
of ₹ 15,000. Actual realisation expenses amounted to ₹ 20,000, being paid by another partner
Y. By what amount Realisation account will be debited for the above-mentioned information?
A. ₹ 20,000 B. ₹ 35,000 C. ₹ 5,000 D. ₹ 15,000
10. Arun and Barun were partners sharing Profits &Losses in the ratio 3:2. They admitted Charan 1
into partnership for 20% share. Charan was to bring proportionate Capital and he brought ₹
3,50,000 (including ₹ 50,000 for goodwill share) in firm. If adjusted capital of Arun after
Revaluation Gain/Loss, Accumulated Profits/Losses and Goodwill treatment was ₹ 8,40,000.
What was Barun’s Capital after Revaluation Gain/Loss, Accumulated Profits/Losses and
Goodwill treatment?
A. ₹ 5,60,000 B. ₹ 3,60,000 C. ₹ 12,00,000 D. ₹ 6,60,000
OR
Raghav and Sahil were partners sharing Profit &Loss in the ratio 5:3. Their capital balances were
₹ 7,20,000 and ₹ 2,80,000 respectively. There were balances of General Reserve of ₹ 5,00,000
and Deferred Revenue Expenditure of ₹ 4,00,000 in the books of the firm. They admitted Ojasv
into partnership for 20% share for which he brings ₹ 4,00,000 as capital. Determine the
goodwill share of Ojasv.
A. ₹ 5,00,000 B. ₹ 1,00,000 C. ₹ 1,20,000 D. ₹ 60,000
11. Building was appearing in the books at ₹ 20,00,000 which was overvalued by 25%. What 1
amount will be shown in the Balance Sheet of a reconstituted firm for building?
A. ₹ 25,00,000 B. ₹ 16,00,000 C. ₹ 24,00,000 D. ₹ 15,00,000
From the given hypothetical situation, answer Q 12 – 14.

Floater Ltd. issued 60,000; 8% debentures of ₹ 100 each at 5% Discount and to be redeemed at
10% premium at the end of 5 years. On the date of issue, balance in Securities Premium was ₹
8,00,000 and Statement of Profit Loss (Dr.) was ₹ 5,00,000.

12. Loss on Issue of Debentures is to be written off as ______ out of Securities Premium and 1
______) out of Statement of Profit and Loss.
A. ₹ 4,50,000 ; ₹ 4,50,000 B. ₹ 6,00,000 ; ₹ 3,00,000
C. ₹ 8,00,000 ; ₹ 1,00,000 D. ₹ 4,00,000 ; ₹ 5,00,000
13. After writing off Loss on Issue of Debentures, _______ balance in Statement of Profit and Loss 1
will be ________
A. Debit ; ₹ 6,00,000 B. Credit ; ₹ 6,00,000
C. Debit ; ₹ 4,00,000 D. Credit ; ₹ 4,00,000
14. Premium on Redemption of Debentures account will have a balance of________ to be treated 1
as ______ in the first year.
A. ₹ 9,00,000 ; Non-Current Liabilities B. ₹ 9,00,000 ; Current Liabilities
C. ₹ 6,00,000 ; D. ₹ 6,00,00 ; Current Liabilities
Non-Current Liabilities
15. Arun, Basu and Tarun were partners sharing Profit &Loss in the ratio [Link]. Their firm was 1
dissolved on March 31, 2025. On this date following assets and liabilities were appearing in
their books of accounts.
Building ₹ 2,00,000 ; Furniture ₹ 80,000 ; Stock ₹ 70,000 ; Goodwill ₹ 10,000 ; Debtors ₹ 40,000
; Cash ₹ 20,000 ; Creditors ₹ 50,000 ; Arun’s Loan ₹ 60,000 ; Tarun’s Brother Loan ₹ 30,000.
Assets realised at for ₹ 3,40,000. Determine the amount of Realisation Gain/Loss.
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 A. Realisation Loss ₹ 80,000 B. Realisation Gain ₹ 60,000
C. Realisation Loss ₹ 60,000 D. No Gain or Loss on Realisation
16. John and Sourabh were partners sharing Profit &Loss equally. They decided to share future 1
Profit &Loss in the ratio 3:2. Their manager Arya met with an accident in the office itself and his
claim for compensation amounted to ₹. 50,000. The firm had a Workmen Compensation
Reserve of ₹. 80,000. Which of the following statement holds true at the time of
reconstitution?
A. ₹ 50,000 will be provided as workmen claim out of Workmen Compensation Reserve
and balance ₹ 30,000 will be distributed amongst partners in old ratio.
B. ₹ 50,000 will be provided as workmen claim out of Workmen Compensation Reserve
and balance ₹ 30,000 will be distributed amongst partners in new ratio.
C. ₹ 50,000 will be provided as workmen claim out of Workmen Compensation Reserve
and balance ₹ 30,000 will
be credited to Revaluation Account.
D. ₹ 50,000 will be provided as workmen claim out of Workmen Compensation Reserve
and balance ₹ 30,000 will be carried forward in the books of the firm without any
treatment.
17. Raju, Rinku and Munni were partners sharing Profits & Losses in the ratio [Link]. They admitted 3
Chunni into partnership for 1/5 share. It was decided that Munni will have 1/4 share in future
profits. Goodwill of the firm was valued at ₹ 3,20,000 and Chunni was unable to bring anything.
Calculate New Ratio, Sacrificing Ratio and journalise for goodwill at the time of admission of
Chunni.
OR
Yashasvi, Nitish and Harshit were partners sharing Profit &Loss in the ratio [Link]. W.e.f 01 April,
2025, they decided to share future Profit &Loss in the ratio [Link]. On the date of reconstitution
Goodwill was appearing in the books of ₹ 4,00,000. Goodwill of the firm was valued at ₹
7,20,000 on the date of reconstitution. Determine gain or sacrifice for each partner and pass
necessary entries.
18. Hemant and Pankaj were partners sharing Profit & Loss in the ratio of 3:2. The firm was 3
dissolved on March 31, 2024 and the following balances were appearing in the books of the
firm.
a. Hemant’s Loan ₹ 80,000
b. Ruby’s Loan ₹ 50,000
c. Creditors ₹ 1,00,000
d. Capital Balances after all adjustments – Hemant ₹ 1,60,000 and Pankaj - ₹ 1,40,000
Assets of the firm realised at ₹ 6,00,000. You are required to show the amounts and order of
payments as per section 48 of Indian Partnership Act 1932 at the time of Dissolution of the
firm.
19. On January 01, 2025 Ritu Ltd. Issued ₹ 40,00,000, 8% Debentures of ₹ 100 each at 5% discount 3
to be redeemed at 10% premium at the end of 5 years. Balance in Securities Premium on the
date of such issue was of ₹ 2,70,000. Pass entries for Issue of debentures.
20. Ankur and Vikram were partners sharing Profits &Losses in the ratio 3:2. They decided to share 3
future Profits & Losses equally. On the date of reconstitution there was Investment Fluctuation (1+1.5+0.
Reserve of ₹ 4,00,000 in the books of accounts. Pass entries in the following cases 5)
A. Value of Investment reduced by ₹ 2,50,000.
B. Value of Investment increased by ₹ 5,00,000.

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 C. There was no change in value of investments.
21. Sapphire Ltd. Was registered with an authorised capital of ₹ 80,00,000 divided into 4,00,000 4
shares of ₹ 20 each. Company offered and issued 1,50,000 shares at a premium of ₹ 4 per share
payable as ₹ 7 on application (including ₹ 1 premium), ₹ 12 on allotment (including ₹ 2
premium) and balance on first call. Rancho, holding 10,000 shares failed to pay allotment and
call money. Another shareholder Sultan holding 5,000 shares failed to pay the call money. All
the shares held by Rancho were forfeited and of these 8,000 were reissued at ₹ 22 per share as
fully paid.
Show Share Capital sub head as it would in the Balance Sheet of Sapphire ltd. along with notes
to Account as per the Companies Act 2013.
22. Amit, Sumit and Pulkit were partners sharing Profit &Loss in the ratio [Link]. Their Capitals were 4
₹ 8,00,000; ₹ 7,00,000 and ₹ 5,00,000 respectively. According to Partnership Deed:-
(a) Interest on Capital @ 10% p.a.
(b) Salary to Amit ₹ 10,000 p.m and Pulkit ₹ 15,000 per quarter.
(c) Commission to Sumit ₹ 70,000.
(d) Sumit was being guaranteed that his share of profits will not be less than ₹ 65,000.
Deficiency if any will be borne by Amit and Pulkit equally.
Ignoring the above terms the profits of ₹ 6,00,000, for the year ended March 31, 2025 were
divided equally between partners. You are required to pass necessary adjustment entry. Show
your workings clearly.
23. Extract of Financial statements of Alexa Ltd are produced below. 6

Balance Sheet ( Extract)

Equity and Liabilities Note no. 31-03-25 31-03-24
Shareholders funds
(₹) (₹)
Equity Share capital 1 2,37,60,000 2,00,00,000
Reserves and Surplus 2 20,00,000 10,00,000

Note No. 1 Share Capital

Authorised Share Capital 31-03-25 (₹) 31-03-24 (₹)
Equity shares of Rs.10 each ------- -------
Issued Capital 2,37,60,000 2,00,00,000
Subscribed capital (Fully Paid) 2,37,60,000 2,00,00,000

Note No. 2 Reserves and Surplus 31-03-25 (₹) 31-03-24 (₹)

Securities Premium 20,00,000 10,00,000

During the year Alexa ltd. purchased business of Gloria ltd. with assets of Rs.50,00,000 and
liabilities of Rs.20,00,000. With regards to the following additional Information:
1) During the year 40,000 Equity Shares were issued at a premium of Rs.4 per share for cash.
2) Besides this no shares were issued as sweat equity, bonus or as ESOP or in any other form.

Give journal entries for issue of shares for cash and consideration other than cash. Also,
prepare Share Capital A/c and Securities Premium Account in the books of Alexa ltd.
24. Alok, Deepak and Manish were partners sharing Profit &Loss in the ratio [Link]. Deepak retired 6
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 on March 31, 2025. On this date his dues after all adjustments related to Revaluation
Gain/Loss, Accumulated Profits/Losses and Goodwill treatment came out to be ₹ 6,40,000. He
was paid ₹ 40,000 through Furniture on retirement and it was agreed to pay balance in three
equal annual instalments together with interest as per the rate permissible by act, in the
absence of any agreement. First instalment being paid on March 31, 2026. You are required to
pass entry for immediate payment to Deepak on retirement and prepare Deepak’s Loan
Account till it is finally closed.
25. Dhwani and Iknoor were partners sharing Profits & Losses in the ratio 3:2. Their Balance Sheet 6
on March 31, 2025 was as follows
Liabilities Amount Assets Amount
(₹) (₹)
Dhwani’s Capital 2,40,000 Cash in Hand 50,000
Iknoor’s Capital 2,60,000 Building 3,00,000
Investment Fluctuation 50,000 Debtors 80,000
Reserve (-) Prov for Doubtful Debts 72,000
Employee Provident Fund 50,000 (8,000)
General Reserve 60,000 Stock 88,000
Creditors 40,000 Accrued Income 20,000
Bills Payable 30,000 Profit and Loss 1,00,000
Bank Overdraft 20,000 Investment 1,20,000
7,50,000 7,50,000
On the above date, they admitted Ishaya into partnership for 25% share. Ishaya brings ₹
2,50,000 as capital and ₹ 40,000 for goodwill. Goodwill of the firm was valued at ₹ 2,00,000.
Following agreements were agreed upon:-
a) Bad Debts amounted to ₹ 5,000 and Provision for doubtful debts to be created at same
existing rate.
b) Investments were valued at ₹ 1,00,000.
c) Accrued Income was recovered only of ₹ 14,500 in settlement.
d) Building was overvalued by 20%.
e) Capital of Dhwani and Iknoor were to be adjusted on the basis Ishaya’s capital
contribution. Necessary adjustment to be done by opening Current Accounts.
You are required to prepare Revaluation Account and Partner’s Capital Account at the time of
admission of partner.
OR
Aman, Barman and Raman were partners sharing Profits & Losses in the ratio [Link]. Their
Balance Sheet on March 31, 2025 was as follows
Liabilities Amount (₹) Assets Amount (₹)
Aman’s Capital 80,000 Bank 30,000
Barman’s Capital 70,000 Building 1,00,000
Raman’s Capital 50,000 Furniture 60,000
Workmen Compensation Reserve 50,000 Debtors 50,000
Accumulated Depreciation on Building 20,000 Stock 40.000
Profit and Loss 40,000 Prepaid Expenses 20.000
Creditors 25,000 Deferred Revenue Exp. 20.000
Outstanding Expenses 15,000 Goodwill 30.000
3,50,000 3,50,000

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 On the above date Barman retired and his share was acquired by Aman and Raman equally.
Following agreements were agreed upon:-
a) Create Provision for doubtful debts @ 10%.
b) Market value of Building is ₹1,00,000 and Furniture was overvalued by 20%.
c) Stock was valued at ₹ 55,000. Creditors of ₹ 15,000 took over stock of ₹ 10,000 in
settlement of their claims.
d) Goodwill of the firm was valued at ₹ 80,000.
e) Prepaid Expenses are worthless and Outstanding Expenses are now ₹20,000.
f) ₹ 20,000 was immediately paid to Barman on retirement brought in Aman and Raman
in ratio 3:2.
Prepare Revaluation Account and Partner’s Capital Account at the time of retirement of
partner.
26. Space Ventures Limited was registered with an authorised capital of ₹ 20,00,000 divided into 6
2,00,000 shares of ₹ 10 each. The company offered 80,000 shares for public subscription
payable ₹ 4 on application and ₹ 7 on allotment (including ₹ 1 premium). Public had applied for
1,10,000 shares and pro-rata allotment was made in the ratio of 5:4. Remaining applications
were rejected. Mukta, holding 6,000 shares failed to pay allotment money. Her shares were
being forfeited and later re-issued 4,000 shares at a discount of ₹ 2 per share.
Pass necessary entries in the books of Space Ventures Ltd.
OR
Chitinoor Ltd. invited applications for 2,00,000 shares of ₹ 10 each payable ₹ 3 on application, ₹
5 on allotment (including ₹ 1 premium) and balance on call. Applications were received for
3,00,000 shares out of which 20% applications were rejected and remaining were allotted on
pro-rata basis. Rohan, an applicant of 12,000 shares failed to pay allotment money and Mohan
holding 8,000 shares paid the entire money along with allotment. Subsequently the call was
made, all the money was duly received except from Rohan. Later on, company issued a notice
to Rohan to pay the balance in 15 days failing which his shares would be forfeited.
Rohan cleared his dues within the stipulated time period.
Journalise.
Part B :- Analysis of Financial Statements
(Option – I)

27. A company had following balances in their books of Accounts 1

31 March, 2025 31 March, 2024
Raw Material 40,000 30,000
Work in Progress 1,00,000 1,40,000
Finished Goods 70,000 1,00,000
Stock in Trade 2,00,000 1,20,000
Determine the amount of Change in Inventories to be shown in Statement of Profit and Loss
Account.
A. ₹ 20,000 B. ₹ (20,000) C. ₹ (10,000) D. ₹ 10,000
28. Inventory Turnover Ratio of company was 5 times. The firm had Revenue from operations of ₹ 1
5,00,000 and Gross Profit was 25% of Cost of Revenue from Operations. Determine the amount
of Opening Inventory if Closing Inventory was ₹ 60,000.
A. ₹ 80,000 B. ₹ 60,000 C. ₹ 1,00,000 D. ₹ 50,000
OR
Assertion (A) :- Gross Profit Ratio is always higher than Net Profit Ratio.
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 Reason (R) :- To calculate Net Profit, Indirect Expenses are subtracted from Gross Profit and
Indirect Incomes are added to Gross Profit.
A. Both A and R are correct, and R is the correct explanation of A
B. Both A and R are correct, but R is not the correct explanation of A
C. A is correct but R is incorrect
D. A is incorrect but R is correct
29. Proposed Dividend for the year ended March 31, 2025 and March 31, 2024 were ₹ 2,50,000 1
and ₹ 2,00,000 respectively. Shareholders finalised the dividend amount at ₹ 1,80,000 during
the year ended March 31, 2025 in AGM held in June-July 2024. Unclaimed dividend as at March
31, 2025 was ₹ 10,000.
Choose the correct option while preparing Cash Flow Statement for the year ended March 31,
2025:
A. Proposed Dividend added in Net Profit after tax will be ₹ 2,00,000 and outflow of
Dividend paid in financing activities will be ₹ 1,90,000.
B. Proposed Dividend added in Net Profit after tax will be ₹ 2,50,000 and outflow of
Dividend paid in financing activities will be ₹ 2,00,000.
C. Proposed Dividend added in Net Profit after tax will be ₹ 1,80,000 and outflow of
Dividend paid in financing activities will be ₹ 1,90,000.
D. Proposed Dividend added in Net Profit after tax will be ₹ 1,80,000 and outflow of
Dividend paid in financing activities will be ₹ 1,70,000.
OR
Provision for Tax for the year ended March 31, 2025 and 31 March 2024 were ₹ 3,00,000 and ₹
2,80,000 respectively. During the year Tax paid was ₹ 2,50,000. Determine the amount of Tax
proposed during the year by the firm.
A. ₹ 3,00,000 B. ₹ 2,30,000 C. ₹ 2,80,000 D. ₹ 2,70,000
30. Which of the following is cash flow from Operating activities for a finance company: 1
A. Conversion of debentures into shares B. Dividend received
C. Building purchased D. Dividend paid
31. Complete the following Comparative Balance Sheet as at March 31, 2024 and Match 31, 2025 3
PARTICULARS 31st March 31st March, Absolute Change Percentage Change
2024 2025
Shareholders' Funds 6,00,000 ?? 3,00,000 ??
Non-current Liabilities 3,00,000 ?? NIL ??
Current Liabilities ?? 3,00,000 2,00,000 ??
TOTAL ?? ?? ?? ??
Non-current Assets 7,00,000 ?? ?? 50
Current Assets ?? ?? ?? ??
TOTAL ?? ?? ?? ??
OR
Prepare Common Size Statement of Profit and Loss for the year ended March 31, 2025
PARTICULARS 31st March, 2025
Revenue from Operations 40,00,000
Other Expenses 4,00,000
Other Income 6,00,000
Employee Benefit Expenses 8,00,000
Purchases of Stock in Trade 10,00,000
Change in Inventory (2,00,000)

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 Tax Rate 50 %
32. (i) Give two examples of Inventory except Raw Materials, Work in Progress, Finished Goods 3
and Stock in Trade.
(ii) Where will you disclose the amount of loss on issue of debentures written off out of
Statement of Profit and Loss?
(iii) Where will you disclose Purchase of Raw Materials in Financial Statement of Company?
33. Quick Ratio of Roxy Traders is 0.8 : 1. State with reasons whether the following transactions will 4
increase , decrease or will have no change on the ratio
a) Goods purchased on Credit
b) Outstanding Expenses paid
c) Sale of Fixed Assets a 20% loss
d) Issue of Debentures at Premium to Vendors
OR
From the following information, calculate Trade Receivables Turnover Ratio:
Cost of Revenue from Operations (Cost of Goods Sold) : Rs. 6,00,000 Gross Profit on Cost : 25%
Cash Sales: 20% of Total Sales Opening Debtors: Rs. 1,00,000 Closing Debtors : Rs. 2,00,000.
Provision for Doubtful Debts: Opening Rs. 10,000 and Closing Rs.20,000.
34. Extracts of the Balance Sheets of M/s Agrawal Ltd. as on 31st March,2024 and 31st March 6
2025alonwith additional information are given below. You are required to calculate:
(i) Operating profit before changes in working capital.
(ii) Cash Flows from Financing Activities.

31.03.2025 31.03.2024
Equity Share Capital 12,00,000 9,00,000

10% Preference Share Capital 4,00,000 5,00,000

Cash Credit 2,50,000 1,00,000
Profit and Loss (Cr.) 8,00,000 6,00,000
12% Debentures 4,00,000 3,00,000
Bank overdraft 1,00,000 75,000
Outstanding Interest on Debentures 3,000 --------

Additional Information:

a) New equity shares and debentures were issued on last day the current accounting year
ended 31st March, 2025. Debentures were issued at a discount of 5% which was
written off at the end of the year.
b) Dividend on preference shares and interim dividend @ 15% were paid on equity shares
on 31st March, 2025
c) Preference Shares were redeemed on 1st April, 2025 at a premium of 5%. The premium
was provided out of profits.

Part B :- Computerised Accounting

(Option – II)

27. A ‘legend’ can be repositioned on the chart: 1

(A) On the right side only
(B) On the left side only
(C) On the bottom of x-axis
(D) Anywhere
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Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26
 OR

The need for codification is for:

(A) the generation of mnemonic codes
(B) securing the accounting reports
(C) easy processing of data and keeping records
(D) the encryption of data
28. To see all available shape styles of a chart, which of the following buttons is clicked? 1
(A) More
(B) Chart tool
(C) Picture
(D) Custom
29. Which of the following is not an advantage of computerised accounting system? 1
(A) Timely generation of reports in desired format
(B) Ensures effective control over the system
(C) Faster obsolescence of technology
(D) Confidentiality of data is maintained
30. A sequential code refers to code applied to some documents where: 1
(A) Account heads are assigned to documents
(B) Numbers and letters are assigned in consecutive order
(C) Special names are given to accounts
(D) Documents are arranged in special sequence

OR

Name the Accounting information sub-system which is linked with other sub-systems for
obtaining information about cost and expenses:
(A) Cash and Bank sub-system
(B) Costing sub-system
(C) Expense accounting sub-system
(D) Final accounts sub-system
31. What is encryption and how is it helpful in CAS? 3
32. State any three limitations of Computerised Accounting System. 3
33. State steps to be taken in preparation of a chart. 4
OR
What are the uses of ‘Error Alert tab’?
34. What is meant by ‘Merging a range of cells’? How is it done? State the steps to split a merged 6
cell.

Page 10 of 10
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26
 ACCOUNTANCY (055)
Marking Scheme
Class XII (2025-26)

No. Question Marks

Part A – Partnership and Company Accounts
1. D. Capital introduced 1
OR
A. Both A and R are correct, and R is the correct explanation of A
2. D. A ₹ 35,000 and B ₹ 35,000 1
3. C. ₹ 8,000 1
OR
C ₹ 12,000
4. C. Goodwill ₹ 1,00,000 1
OR
B. Rs. 4,20,000
5. C. Debited ₹ 10,000 1
6. B. ₹ 3,00,000 1
7. B. ₹ 1,600 1
8. D. 3:1 1
OR
A. 29 : 11
9. B. ₹ 35,000 1
10. B ₹ 3,60,000 1
OR
B. ₹ 1,00,000
11. B. ₹ 16,00,000 1
12. C. ₹ 8,00,000 ; ₹ 1,00,000 1
13. A. Debit ; ₹ 6,00,000 1
14. C. ₹ 6,00,000 ; Non-Current Liabilities 1
15. C. Realisation Loss ₹ 60,000 1
16. A. ₹ 50,000 will be provided as workmen claim out of Workmen Compensation B. C. D. 1
Reserve and balance ₹ 30,000 will be distributed amongst partners in old
ratio.
17. Let total share be 1 3
Chunni share = 1/5
Remaining share = 4/5
Munni share = 1/4
Remaining share = 4/5 – 1/4 = 11/20
Raju share = 11/20 x 3/4 = 33/80
Rinku share = 11/20 x 1/4 = 11/80
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16
Sacrificing Ratio = 3 : 1 (Raju and Rinku) Gain to Munni = 1/20
Journal
Date Particulars Debit Credit

Page 1 of 11
 (i) Chunni’s Current A/c Dr. 64,000
Munni’s Capital A/c Dr. 16,000
To Raju’s Capital A/c 60,000
To Rinku’s Capital A/c 20,000
(Being adjustment entry passed for goodwill)
OR
Yashasvi’s Gain/sacrifice = 5/10 – 4/9 = 5/90 - Sacrifice,
Nitish’s Gain/sacrifice = 3/10 – 3/9 = (-) 3/90 - Gain and
Harshit’s Gain/sacrifice = 2/10 – 2/9 = (-) 2/90 – Gain
Journal
Date Particulars Debit Credit
(i) Yashasvi’s Capital A/c Dr. 2,00,000
Nitish’s Capital A/c Dr. 1,20,000
Harshit’s Capital A/c Dr. 80,000
To Goodwill A/c 4,00,000
(Being existing goodwill written off)
(ii) Nitish’s Capital A/c Dr. 24,000
Harshit’s Capital A/c Dr. 16,000
To Yashasvi’s Capital A/c 40,000
Being adjustment entry passed for goodwill)
18. First: - Rs.1,00,000 paid to Creditors and Rs.50,000 paid to Ruby respectively. 3
Second:- Rs.80,000 paid to Hemant next
Third:- Capital Balances of Hemant and Pankaj Rs.1,60,000 and Rs.1,40,000 paid to partners along
with Surplus of Rs.70,000 paid to partners Hemant and Pankaj as Rs.42,000 and Rs.28,000 i.e. in
profit sharing ratio.
19. Journal 3
Date Particulars Debit Credit
Jan. Bank A/c Dr. 38,00,000
01 To Debentures Application and Allotment A/c 38,00,000
2025 (Being application and allotment money received for
debentures)
Jan. Debentures Application and Allotment A/c Dr. 38,00,000
01 Loss on Issue of Debentures A/c Dr. 6,00,000
2025 To 8% Debentures A/c 40,00,000
To Premium on Redemption of Debentures A/c 4,00,000
(Being Issued ₹ 40,00,000, 8% Debentures of ₹ 100 each at 5%
discount to be redeemed at 10% premium)
20. Journal 3
Date Particulars Debit Credit
A Investment Fluctuation Reserve A/c Dr. 4,00,000
To Investment A/c 2,50,000
To Ankur’s Capital A/c 90,000
To Vikram’s Capital A/c 60,000
(Being decline in the value of Investment credited to Investment
A/c and remaining reserve credited to old partners.)
B Investment Fluctuation Reserve A/c Dr. 4,00,000
To Ankur’s Capital A/c 2,40,000
To Vikram’s Capital A/c 1,60,000

Page 2 of 11
 (Being reserve credited to old partners.)
Investment A/c Dr. 5,00,000
To Revaluation A/c 5,00,000
(Being investment value increased)
Revaluation A/ c Dr. 5,00,000
To Ankur’s Capital A/c 3,00,000
To Vikram’s Capital A/c 2,00,000
(Being profit on revaluation distributed among partners)
C Investment Fluctuation Reserve A/c Dr. 4,00,000
To Ankur’s Capital A/c 2,40,000
To Vikram’s Capital A/c 1,60,000
(Being reserve credited to old partners.)
21. Balance Sheet (extract) 4
Particulars Note No. Current Year Previous Year
EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 29,52,000 ----

Notes to Accounts
Note No.
1 Share Capital Amount
Authorised Share Capital 80,00,000
(4,00,000 Equity shares @ ₹20 each)
Issued Share Capital 30,00,000
(1,50,000 Equity shares @ ₹20 each)
Subscribed Share Capital
Subscribed and Fully Paid up
(1,43,000 Equity shares @ ₹20 each) 28,60,000
Subscribed but not Fully Paid up
5,000 shares @ ₹20 each 1,00,000
(-) Calls in Arrears (20,000) 80,000
Add: Share Forfeiture A/c 12,000
29,52,000
22. Journal 4
Date Particulars Debit Credit
Mar. 31 Pulkit’s Capital A/c Dr. 70,000
2025 To Amit’s Capital A/c 65,000
To Sumit’s Capital A/c 5,000
(Being adjustment entry passed for omission)

Working Notes
Particulars Amit Sumit Pulkit Firm
Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Profits wrongly 2,00,000 2,00,000 2,00,000 6,00,000
shared
IOC omitted 80,000 70,000 50,000 2,00,000
Salary omitted 1,20,000 60,000 1,80,000

Page 3 of 11
 Commission 70,000 70,000
Profits to be shared 75,000 45,000 30,000 1,50,000
Guarantee effect 10,000 20,000 10,000
2,10,000 2,75,000 2,00,000 2,05,000 2,10,000 1,40,000 6,00,000 6,00,000
65,000 (Cr.) 5,000 (Cr.) 70,000 (Dr.)
23. Journal 6
Date Particulars Debit Credit
Bank A/c Dr. 5,60,000
To Equity Share Application and Allotment A/c 5,60,000
(Being application money including premium received))
Equity share application and allotment A/c Dr. 5,60,000
To Equity Share Capital A/c 4,00,000
To Securities Premium A/c 1,60,000
(Being Shares issued at premium)
Assets A/c Dr. 50,00,000
Goodwill A/c Dr. 12,00,000
To Liabilities A/c 20,00,000
To Gloria ltd. A/c 42,00,000
(Being business taken over and goodwill recorded)
Gloria ltd. A/c Dr. 42,00,000
To Equity Share Capital A/c 33,60,000
To Securities Premium A/c 8,40,000
(Being Purchase consideration paid to Gloria ltd.)

Dr. Equity Share Capital A/c Cr.

Date Particulars Amount Date Particulars Amount
By Balance b/d 2,00,00,000
By Equity share application and 4,00,000
To Balance 2,37,60,000 allotment A/c
C/d By Gloria Ltd. A/c 33,60,000
2,37,60,000 2,37,60,000

Dr. Securities Premium A/c Cr.

Date Particulars Amount Date Particulars Amount
By Balance b/d 10,00,000
By Equity share application and allotment 1,60,000
To Balance 20,00,000 A/c
C/d By Gloria Ltd. A/c 8,40,000
20,00,000 20,00,000
24. Journal 6
Date Particulars Debit Credit
March 31, Deepak’s Capital A/c Dr. 6,40,000
2025 To Furniture A/c 40,000
To Deepak’s Loan A/c 6,00,000
(Being Deepak’s Capital account settled)

Page 4 of 11
 Dr. Deepak’s Loan A/c Cr.
Date Particulars Amount Date Particulars Amount
Mar. 31 Bank A/c 2,36,000 Apr.01, 2025 Deepak’s Capital A/c 6,00,000
2026 Balance c/d 4,00,000 Mar. 31, 2026 Interest A/c 36,000
6,36,000 6,36,000
Mar. 31 Bank A/c 2,24,000 Apr.01, 2026 Balance b/d 4,00,000
2027 Balance c/d 2,00,000 Mar. 31, 2027 Interest A/c 24,000
4,24,000 4,24,000
Mar. 31 Bank A/c 2,12,000 Apr.01, 2027 Balance b/d 2,00,000
2028 Mar. 31, 2028 Interest A/c 12,000
2,12,000 2,12,000
25. Dr. Revaluation Account Cr. 6
Particulars Amount Particulars Amount
Prov. For Doubtful Debts 4,500 Revaluation (Loss)
Accrued Income 5,500 Dhwani’s Capital 36,000
Building 50,000 Iknoor’s Capital 24,000
60,000 60,000
Dr. Partner Capital Account Cr.
Particulars Dhwani Iknoor Ishaya Particulars Dhwani Iknoor Ishaya
Rev. Loss 36,000 24,000 Balance b/d 2,40,000 2,60,000
P&L 60,000 40,000 Inv. Fluct. Res. 18,000 12,000
Gen. Res. 36,000 24,000
Cash A/c 2,50,000
Prem. for goodwill 24,000 16,000
Balance c/d 2,28,000 2,52,000 2,50,000 Ishaya’s Current 6,000 4,000
3,24,000 3,16,000 2,50,000 3,24,000 3,16,000 2,50,000
Balance b/d 2,28,000 2,52,000 2,50,000
Balance c/d 4,50,000 3,00,000 2,50,000 Dhwani’s Current 2,22,000
Iknoor’s Current 48,000
4,50,000 3,00,000 2,50,000 4,50,000 3,00,000 2,50,000
OR
Dr. Revaluation Account Cr.
Particulars Amount Particulars Amount
Furniture 10,000 Building 20,000
Prepaid Expenses 20.000 Stock 15,000
Prov. For doubtful debts 5,000 Creditors 5,000
Outstanding Expenses 5,000
40,000 40,000

Dr. Partner’s Capital Account Cr.

Particulars Aman Barman Raman Particulars Aman Barman Raman
Def. Rev. Exp. 10,000 6,000 4,000 Balance b/d 80,000 70,000 50,000
Goodwill 15,000 9,000 6,000 WCR 25,000 15,000 10,000
Barman’s Cap. 12,000 -- 12,000 Profit and Loss 20,000 12,000 8,000
Cash 20,000 Aman’s Capital 12,000
Barman’s Loan 86,000 Raman’s Capital 12,000
Bal c/d 1,00,000 54,000 Cash 12,000 8,000
Page 5 of 11
 1,37,000 1,21,000 76,000 1,37,000 1,21,000 76,000
26. Journal 6
Date Particulars Debit Credit
I. Bank A/c Dr. 4,40,000
To Share Application A/c 4,40,000
(Being application amount received for 1,10,000 shares)
II. Share Application A/c Dr. 4,40,000
To Share Capital A/c 3,20,000
To Share Allotment A/c 80,000
To Bank A/c 40,000
(Being application money adjusted and surplus money refunded)
III. Share Allotment A/c Dr. 5,60,000
To Share Capital A/c 4,80,000
To Securities Premium A/c 80,000
(Being allotment amount due)
IV. Bank A/c Dr. 4,44,000
Calls in Arrears A/c Dr. 36,000
To Share Allotment A/c 4,80,000
(Being allotment money received and unpaid amount transferred
to Call in arrears)
V. Share Capital A/c Dr. 60,000
Securities Premium A/c Dr. 6,000
To Share Forfeited A/c 30,000
To Calls in Arrears A/c 36,000
(Being shares forfeited)
VI. Bank A/c Dr. 32,000
Share Forfeited A/c Dr. 8,000
To Share Capital A/c 40,000
(Being shares reissued)
VII. Share Forfeited A/c Dr. 12,000
To Capital Reserve A/c 12,000
(Being gain on reissue transferred to Capital Reserve)

OR
Journal
Date Particulars Debit Credit
I. Bank A/c Dr. 9,00,000
To Share Application A/c 9,00,000
(Being application amount received for 3,00,000 shares)
II. Share Application A/c Dr. 9,00,000
To Share Capital A/c 6,00,000
To Share Allotment A/c 1,20,000
To Bank A/c 1,80,000
(Being application money adjusted and surplus money refunded)
III. Share Allotment A/c Dr. 10,00,000
To Share Capital A/c 8,00,000
To Securities Premium A/c 2,00,000

Page 6 of 11
 (Being allotment amount due)
IV. Bank A/c Dr. 8,60,000
Calls in Arrears A/c Dr. 44,000
To Share Allotment A/c 8,80,000
To Calls in advance A/c 24,000
(Being allotment money received with calls in advance and
unpaid amount transferred to Call advance and calls in arrears
A/c)
V. Share First Call A/c Dr. 6,00,000
To Share Capital A/c 6,00,000
(Being Call money due)
VI. Bank A/c Dr. 5,46,000
Calls in Advance A/c Dr. 24,000
Calls in Arrears A/c Dr. 30,000
To Share First Call A/c 6,00,000
(Being Call money received except on 10,000 shares and advance
adjusted)
VII. Bank A/c Dr. 74,000
To Calls in Arrears A/c 74,000
(Being Calls in arrears received)

Part B – Analysis of Financial Statements

Option – I
27. C. ₹ (10,000) 1
28. C. ₹ 1,00,000 1
OR
D. A is incorrect but R is correct
29. D. Proposed Dividend added in Net Profit after tax will be ₹ 1,80,000 and outflow of 1
Dividend paid in financing activities will be ₹ 1,70,000.
OR
D. ₹ 2,70,000
30. B. Dividend rece 1
ived
31. Comparative Balance Sheet as at March 31, 2024 and Match 31, 2025 3
PARTICULARS 31st March 31st March, Absolute Change Percentage Change
2024 2025
Shareholders' Funds 6,00,000 9,00,000 3.00.000 50
Non-current Liabilities 3,00,000 3,00,000 NIL --
Current Liabilities 1,00,000 3,00,000 2,00,000 200
TOTAL 10,00,000 15,00,000 5,00,000 50
Non-current Assets 7,00,000 10,50,000 3,50,000 50
Current Assets 3,00,000 4,50,000 1,50,000 50
TOTAL 10,00,000 15,00,000 5,00,000 50
OR
Common Size Statement of Profit and Loss for the year ended March 31, 2025
PARTICULARS 31st March, 2025 Percentage of RFO

Page 7 of 11
 Revenue from Operations 40,00,000 100
Other Income 6,00,000 15
Total Income 46,00,000 115
Purchases of Stock in Trade 10,00,000 25
Change in Inventory (2,00,000) (5)
Employee Benefit Expenses 8,00,000 20
Other Expenses 4,00,000 10
Total Expenses 20,00,000 50
Profit Before Tax 26,00,000 65
Less :- Tax 13,00,000 32.5
Profit after Tax 13,00,000 32.5
32. (i) Loose Tools, Stores and Spares. 3
(ii) Finance Cost
(iii) Cost of Material Consumed.
33. a) Ratio will decrease Current Liabilities (Trade Payables) will increase 4
b) Ratio will decrease as both Quick Assets (Cash) and Current Liabilities (Outstanding
Expenses) will decrease.
c) Ratio will increase as Current Assets (Cash and Cash Equivalents) will increase.
d) No change as no impact on Quick Assets and Current Liabilities.
OR
Trade Receivables Turnover Ratio = Credit Revenue from Operations / Average Trade
Receivables
= 6,00,000/1,50,000 = 4 times
Revenue From Operations Cost of Revenue from Operations + Gross Profit = 6,00,000 + 1,50,000 =
7,50,000
Cash Revenue from Operations = 20% of Revenue From Operations = 20% of 7,50,000 = 1,50,000
Credit Revenue from Operations = Revenue from operations – Cash Revenue from operations =
7,50,000 – 1,50,000 = 6,00,000
Average Trade Receivables = (Opening Trade Rec. + Closing Trade Rec.) / 2 = (1,00,000 +
2,00,000)/2 = 1,50,000

34. Cash Flow from Operating activities 6

Particulars Amount

Net Profit before tax 3,75,000

Non-Operating and non-cash items

Add: Premium on redemption on preference Shares (5%of 1,00,000) 5,000

Interest on debentures 36,000

Discount on issue of debentures written off 5,000

Operating profit before changes in working Capital 4,21,000

Working notes :

Calculation of net profit before tax

Page 8 of 11
 Profit & Loss account balance as at 31st Marc 2025 8,00,000

Less Profit and loss account balance as at 31st Marc 2024 (6,00,000)

2,00,000

Add Dividend paid on preference shares (10% of 4,00,000) 40,000

Interim dividend on equity shares (15% of 9,00,000) 1,35,000

3,75,000

Cash flow from Financing activities

Particulars Amount

Proceeds from issue of equity shares 3,00,000

Redemption of preference shares(1,00,000+5,000) (1,05,000)

Proceeds from issue of debentures (1,00,000-5,000) 95,000

Increase in Bank overdraft 25,000

Increase in cash Credit 1,50,000

Dividend paid on preference shares (40,000)

Interim dividend on equity shares (1,35,000)

Interest on debentures (36,000-3,000) (33,000)

Net cash from Financing activities 2,57,000

Part B – Computerised Accounting

Option – II

27. (D) Anywhere 1

OR

(D) The encryption of data

28. (A) More 1

29. (C) Faster obsolescence of technology 1

30. (B) Numbers and letters are assigned in consecutive order 1

OR
(B) Costing sub-system

Page 9 of 11
31. Encryption is a way to protect data by scrambling it into a code that can only be unlocked with a 3
unique key. It's a vital component of cybersecurity and data privacy protection, and is used to keep
sensitive information out of the hands of unauthorized users.

Encryption can be used to protect data in a number of ways, including:

• At rest: Protecting data on computers or in the cloud
• In transit: Protecting data while it's being sent between computers
• While being processed: Protecting data while it's being processed
32. [Link] failure 3
The system may crash due to hardware failure, which can disrupt work. This is especially
true if there is no backup.
[Link] cost of training
New versions of hardware and software require training for staff, which can be costly.
[Link] risks
Computerized accounting systems store sensitive financial data, which can be vulnerable to
cyber-attacks, data breaches, and theft.
33. Following are the steps prepare a chart: 4

Step – 1: Enter data in a worksheet with proper column and row titles.
Step – 2: Create a basic chart using the pattern from the panel available on top of worksheet
in Chart groups’ option.
Step – 3: Change the layout or style of chart. Apply a predefined chart layout. Apply a
predefined chart style. Change the layout of chart elements. Change the format of chart
elements.
Step – 4: Add or remove titles or data labels. Add (Remove) a chart title. Add (Remove)
axis titles. Link a title to a worksheet cell. Add (Remove) data labels.
Step – 5: Show or hide a legend.
Step – 6: Display or hide chart axes or gridlines. Display (hide) primary axes Display (hide)
secondary axes Display (hide) gridlines
Step – 7: Move (resize) a chart
Step – 8: Save a chart

OR

This tab enables :

(a) To display the error alert after invalid data is entered in the box.
(b) Enter message allows to type the desired message for user and title for reference
purpose.
(c) In Style drop-down menu select Information, Warning or Stop as per the severity and
accuracy requirement for data where.
(i) Information: displays a message but will prevent entry of invalid data.
(ii) Warning: displays a warning message but will not prevent entry of invalid data.
(iii) Stop: will prevent invalid entry of data.
34. Merging a range of Cells: 6

Merged cells are a single cell that is created by combining two or more selected cells. The
cell reference for a merged cell is the upper-left cell in the original selected range. When
two or more adjacent horizontal or vertical cells are merged, the cells become one large cell
and displayed across multiple columns or rows. The contents of one appear in the centre of
the merged cell.
Steps:

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 1. Select two or more adjacent cells that we want to merge.
2. On the Home tab, in the Alignment group, click Merge and Centre.

Steps to split a merged cell:

1. Select the merged cell.

2. When we select a merged cell, the Merge and Centre button also appears selected in the
Alignment group on the Home tab.
3. To split the merged cell, click Merge and Centre. The contents of the merged cell will
appear in the upper-left cell of the range of split cells.

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