MODEL PAPER 2025 - CBSE STD 12 Commerce Accountancy Questions

Q 1M.C.Q (1 Marks)1 Mark

String and Kite were partners sharing profits and losses in the ratio 5:3. They admitted spinner as a new partner. String sacrificed $1 / 4$ from his share and Kite sacrificed $1/6$ of his share. What will be the new ratio?

✓
6:5:5
B
9:5:10
C
15:10:7
D
35:21:40

Answer: A.

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Q 2M.C.Q (1 Marks)1 Mark

A, B and C were partners sharing profits and losses equally. B died on 31 August, 2023 and total amount transferred to B's executors was ₹ 13,20,000. B's executors were being paid ₹ 1,20,000 immediately and balance was to be paid in four equal semi - annual instalments together with interest @ 10% p.a. Total amount of interest to be credited to B's executors Account for the year ended March 31, 2024 will be?

A
₹ 70,000
✓
₹ 67,500
C
₹ 60,000
D
₹ 77,000

Answer: B.

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Q 3M.C.Q (1 Marks)1 Mark

Rohit, Virat and Shikhar were partners sharing profits and losses in the ratio 3:1:1. Their Capital balance as on March 31, 2024 was ₹ 3,00,000; ₹ 2,70,000 and ₹ 2,50,000 respectively. On the same date, they admitted Hardik as a new partner for 20% share. Hardik was to bring ₹ 80,000 for his share of goodwill and 1/5 of the combined capital of all the partners of new firm. What will be the total amount brought in by Hardik on his admission as a new partner?

✓
₹ 2,25,000
B
₹ 1,80,000
C
₹ 2,60,000
D
₹ 3,05,000

Answer: A.

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Q 4M.C.Q (1 Marks)1 Mark

Joey, Sam and Tex were partners sharing profits and losses in the ratio 5:3:2. W.e.f 01 April, 2024 they decided to share future profits and losses in the ratio 2:1:1. For which of the following balances Tex will be credited at the time of reconstitution of firm, if the firm decided to continue with available accumulated profits and losses balances.

A
General Reserve ₹ 2,00,000 and Profit and Loss (Dr.) ₹ 1,20,000
B
General Reserve ₹ 2,00,000 and Profit and Loss (Cr.) ₹ 2,50,000
C
Deferred Revenue Expenditure ₹ 50,000 and Profit and Loss (Cr.) ₹ 80,000
✓
Deferred Revenue Expenditure ₹ 50,000 and Profit and Loss (Dr.) ₹ 80,000

Answer: D.

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Q 5M.C.Q (1 Marks)1 Mark

2,000 shares allotted to Ms. Regal, on which ₹ 80 each called up and ₹ 50 paid were forfeited and reissued for ₹ 70 each as ₹ 90 paid up. Amount transferred to capital reserve A/c is

A
₹ 1,00,000
✓
₹ 60,000
C
₹ 40,000
D
₹ 20,000

Answer: B.

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Q 63 Marks Question3 Marks

Bat, Cat and Rat were partners sharing profits and losses in the ratio 5:3:2. Cat retired and on that date there was a balance of Investment of ₹ 4,00,000 and Investment Fluctuation Reserve of ₹ 1,00,000 was appearing in the balance sheet.
Pass necessary journal entries for Investment Fluctuation reserve in the following cases.
(i) Market Value of Investments was ₹ 4,80,000.
(ii) Market Value of Investments was ₹ 3,80,000.
(iii) Market Value of Investments was ₹ 2,90,000

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Q 73 Marks Question3 Marks

A company forfeited 8,000 shares of ₹ 10 each on which ₹ 8 were called (including ₹ 1 premium) and ₹ 6 was paid (including ₹ 1 premium). Out of these 5,000 shares were reissued at maximum possible discount. Pass necessary journal entries.

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Q 83 Marks Question3 Marks

Buddha Limited took over assets of ₹ 40,00,000 and liabilities of ₹ 6,50,000 of Ginny Limited. Buddha Limited issued 30,000, 8% Debentures of ₹ 100 each at 10% discount, to be redeemed at 5% premium along with cheque of ₹ 5,00,000. Pass necessary journal entries in the books of Buddha Ltd.

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Q 93 Marks Question3 Marks

Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share in the profits. For this purpose, the goodwill of the firm was to be valued at four years' purchase of super profits.
The Balance Sheet of the firm on Saurabh's admission was as follows:

Liabilities		Amount (₹)	Assets	Amount(₹)
Capital Accounts			Fixed Assets (Tangible)	75,000
Amit	90,000		Furniture	15,000
Kartik	50,000	1,40,000	Stock	30,000
Creditors		5,000	Debtors	20,000
General Reserve		20,000	Cash	50,000
Bills payable		25,000
		1,90,000		1,90,000

The normal rate of return is 12% p.a. Average profit of the firm for the last four years was ₹ 30,000. Calculate Saurabh's share of goodwill.

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Q 103 Marks Question3 Marks

A, B and C were partners sharing profits, and losses in the ratio of 2:2:1. C died on 1st July, 2023 on which date the capitals of A, B and C after all necessary adjustments stood at ₹ 74,000, ₹ 6,750 and 42,250 respectively. A and B continued to carry on the business for six months without settling the accounts of C. During the period of six months from 1-7-2023, a profit of ₹ 20,500 is earned using the firm's property. State which of the two options available u/s 37 of the Indian Partnership Act, 1932 should be exercised by executors of C and why?.

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Q 114 Marks Question4 Marks

X, Y and Z were partners sharing profits and losses equally. Y died on 1st October, 2023 and total amount transferred to Y's executors was ₹ 15,60,000. Y's executors were being paid ₹ 3,60,000 immediately and balance was to be paid in four equal quarterly instalments, together with Interest @ 6% p.a. Pass entries till payment of first two instalments.

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Q 124 Marks Question4 Marks

A company forfeited certain number of shares of Face Value ₹ 10 each, for non- payment of final call money of ₹ 4. These shares were reissued at a discount of ₹ 5 and amount of ₹ 4500 was transferred to capital Reserve account. Pass the necessary journal entries to show the above transactions and prepare Share forfeited account.

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Q 136 Marks Question6 Marks

Balance Sheet (Extract)
Of XYZEE ltd as at 31.03.2024 (as per schedule -III of Companies Act 2013)
	Note no.	31.03.2023	31.03.2024
I- Equity & Liabilities

1. Shareholders Funds
a). Share Capital	1	44,90,000	54,90,000
b). Reserves and Surplus	2	2,00,000	3,60,000

Note no.1 (For year ending 31.03.2023)
Share Capital
1). Authorised Share Capital
8,00,000 Equity Shares of Rs. 10 each		80,00,000

2). Issued Share Capital
4,50,000 Equity Shares of Rs. 10 each		45,00,000

3). Called Up Share Capital
a). Called Up and Fully paid
Rs.10 per share on 4,45,000 Equity Shares	44,50,000

b). Called Up and not Fully paid
Rs. 10 per share on 5,000 Equity shares	50,000
Less not paid: Rs. 2 per share on 5,000 Equity shares	-10,000	44,90,000

Note no.1 (For year ending 31.03.2024)
Share Capital
1). Authorised Share Capital
8,00,000 Equity Shares of Rs. 10 each		80,00,000

2). Issued Share Capital
5,50,000 Equity Shares of Rs. 10 each		55,00,000
(Out of these 40,000 shares were issued to the vendors as consideration for Capital asset purchased)
3). Called Up Share Capital
a). Called Up and Fully paid
Rs.10 per share on 5,45,000 Equity Shares	54,50,000

b). Called Up and not Fully paid
Rs. 10 per share on 5,000 Equity shares	50,000
Less not paid: Rs. 2 per share on 5,000 Equity shares	-10,000	54,90,000

Note no. 2- Reserves and Surplus
	31.03.2023	31.03.2024
Capital Reserve	Nil	40,000
Securities Premium	2,00,000	3,20,000

During the year the company took over the business of Quipa Ltd. with Assets of Rs. 12,00,000/- and Liabilities of Rs.7,30,000. Purchase consideration was paid in cash and by issue of equity shares at par. The entire transaction resulted in Capital reserve of Rs. 40,000.
Q.1. What is the total face value of Shares issued for Cash by the Company during the year 2023-24.
(A) Rs. 10,00,000$\quad$$\quad$(B) Rs. 6,00,000$\quad$$\quad$
(C) Rs. 9,50,000$\quad$$\quad$(D) Rs. 11,20,000
Q.2. Shares issued for cash during the year were issued at _________. (assuming they were issued together)?
(A) Rs. 10$\quad$$\quad$(B) Rs. 8
(C) Rs. 12$\quad$$\quad$(D) Rs. 11.20
Q.3. On April 1, 2024, the company forfeited all the defaulting shares. What amount will appear in the Share Forfeiture account at the time of forfeiture?
(A) Rs.40,000$\quad$$\quad$(B) Rs. 50,000
(C) Rs. 10,000$\quad$$\quad$(D) Rs. 60,000
Q.4. What will be the number of Issued shares, as on April 1,2024, after the forfeiture of these shares?
(A) 5,45,000 shares.$\quad$$\quad$(B) 5,50,000 shares.
(C) 4,45,000 shares.$\quad$$\quad$(D) 5,05,000 shares.
Q.5. If 2,000 of the forfeited shares were issued at Rs. 14 per share, what will be the amount of securities premium and Capital reserve respectively as on April 1, 2024?
(A) Rs, 3,20,000, Rs.40,000$\quad$$\quad$(B) Rs.3,28,000, Rs.56,000
(C) Rs.3,28,000, Rs.80,000$\quad$$\quad$(D) Rs.3,20,000, Rs.80,000
Q.6. What will be the amount in the "Called up and Fully paid" subhead after the reissue of these 2000 shares?
(A) Rs.54,50,000$\quad$$\quad$(B) Rs.55,00,000
(C) Rs.54,70,000$\quad$$\quad$(D) Rs.54,80,000

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Q 146 Marks Question6 Marks

Sunny and Bobby were partners in a firm sharing profits and losses in the ratio of 3:2, their balance sheet as at 31st March, 2012:

The firm was dissolved on 31st March, 2012. The assets were realized and the liabilities were paid as under:
(a) Sunny promised to pay off Mrs. Sunny's Loan
(b) Bobby took away stock at 20% discount and 80% of the investments at 10% discount.
(c) Dharam, a debtor of Rs. 60,000 had to pay the amount due 2 months after the date of dissolution. He was allowed a discount of 9% p.a. for making. immediate payment.
(d) Creditors were paid Rs.1,75,000 in full settlement of their claim.
(e) 90% of Other fixed assets realised Rs. 1,98,000 and remaining were realised at discount of 15%.
(f) Balance of investments were sold at 75% value and Fixed Deposits were realised at110%.
(g) There was an old furniture which has been written off completely from the books, Bobby took away the same for Rs. 41,000 against his loan and balance to him was given in cash.
(h) Realisation expenses Rs. 20,000 were paid by Sunny and Bobby equally on behalf of the firm.
You are required to prepare Realisation A/c

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Q 156 Marks Question6 Marks

Varun and Vivek were partners in a firm sharing profits in the ratio of 3:2. The balance in their capital and current accounts as on 1^st April, 2022 were as under:

Particulars	Varun(₹)	Vivek(₹)
Capital accounts	3,00,000 (Cr.)	2,00,000 (Cr.)
Current accounts	1,00,000 (Cr.)	28,000 (Dr)

The partnership deed provided that Varun was to be paid a salary of ₹ 5,000 p.m. whereas Vivek was to get a commission of ₹ 30,000 for the year. Interest on capital was to be allowed @ 8% p.a. whereas interest on drawings was to be charged @ 6% p.a. The drawings of Varun were ₹ 3,000 at the beginning of each quarter while Vivek withdrew ₹ 30,000 on 1^st September, 2022. The net profit of the firm for the year, 2022-23, before making the above adjustments was ₹ 1,20,000.
Prepare Profit and Loss Appropriation Account and Partners' Capital and Current Accounts.

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Q 166 Marks Question6 Marks

Meghna, Mehak and Mandeep were partners in a firm whose Balance Sheet as on 31st March, 2023 was as under:

Balance Sheet
*Liabilities*	Amount	*Assets*	Amount
Creditors	28,000	Cash	27,000
General Reserve	7,500	Debtors	20,000
Capitals:		Stock	28,000
Meghna 20,000		Furniture	5,000
Mehak 14,500
Mandeep 10,000	44,500
	80,000		80,000

Mehak retired on this date under following terms:
(i) To reduce stock and furniture by 5% and 10% respectively.
(ii) To provide for doubtful debts at 10% on debtors.
(iii) Goodwill was valued at '12,000.
(iv) Creditors of Rs.8,000 were settled at Rs.7,100.
(v) Mehak should be paid off and the entire sum payable to Mehak shall be brought in by Meghna and Mandeep in such a way that their capitals should be in their new profit-sharing ratio and a balance of Rs.25,000 is maintained in the cash account.
Prepare Revaluation Account and partners' capital accounts of the new firm.

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Q 176 Marks Question6 Marks

a) Pass the necessary journal entries for 'Issue of Debenture' for the following:
i. Arman Ltd. issued 750, 12% Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 5%.
ii. Sohan Ltd. issued 800, 9% Debentures of ₹ 100 each at a premium of 20 per debenture redeemable at a premium of ₹ 10 per Debenture.
b) X Ltd. obtained a loan of ₹ 4,00,000 from IDBI Bank. The company issued 5,000 9%.
Debentures of ₹100 each as a collateral security for the same. Show how these items will be presented in the Balance Sheet of the company.

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Q 18M.C.Q (1 Marks)1 Mark

What category of functions is used in this formula: =PMT (C10/12, C8, C9,1)

A
Logical
✓
Financial
C
Payment
D
Statistical

Answer: B.

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Q 19M.C.Q (1 Marks)1 Mark

When navigating in a workbook, which command is used to move to the beginning of the current row?

✓
[Ctrl]+[Home]
B
[Page Up]
C
[Home]
D
[Ctrl]+[Backspace]

Answer: A.

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Q 20M.C.Q (1 Marks)1 Mark

Which function results can be displayed in Auto Calculate?

✓
SUM and AVERAGE
B
MAX and LOOK
C
LABEL and AVERAGE
D
MIN and BLANK

Answer: A.

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Q 21M.C.Q (1 Marks)1 Mark

Which formulae would result in TRUE if C4 is less than 10 and D4 is less than 100?

✓
=AND(C4>10, D4>10)
B
=AND(C4>10, C4<100).
C
=AND(C4>10, D4<10).
D
=AND (C4<10, D4,100)

Answer: A.

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Q 22M.C.Q (1 Marks)1 Mark

In Excel, the chart tools provide three different options _________, _________ and _________ for formatting.

A
Layout, Format, DataMaker
✓
Design, Layout, Format
C
Format, Layout, Label
D
Design, DataMaker, Layout

Answer: B.

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Q 233 Marks Question3 Marks

State any three requirements which should be considered before making an investing decision to choose between 'Desktop database' or 'Server database'.

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Q 243 Marks Question3 Marks

State any three types of Accounting Vouchers used for entry.

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Q 253 Marks Question3 Marks

Complete the Comparative Statement of Profit and Loss:

Particulars	2022-23	2023-24	Absolute change	% change
Revenue from Operations	16,00,000	20,00,000	?	?
Less: Employees Benefit Expenses	8,00,000	?	?	25%
Less: Other Expenses	2,00,000	?	(1,00,000)	?
Profit before tax	6,00,000	?	?	50%
Tax @30%	?	?	90,000	?
Profit after tax	4,20,000	?	2,10,000	?

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Q 263 Marks Question3 Marks

Find the heads and sub-heads under which the following items will appear in the balance sheet of a company as per Schedule III, Part I of Companies Act, 2013?
a) Furniture and Fixture
b) Advance paid to contractor for building under construction
c) Accrued Income
d) Loans repayable on demand to Bank
e) Employees earned leaves payable on retirement
f) Employees earned leaves encash able

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Q 274 Marks Question4 Marks

Explain the use of 'Conditional Formatting'.

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Q 284 Marks Question4 Marks

State the features of Computerized Accounting system.

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Q 294 Marks Question4 Marks

Profit after tax amounted to ₹ 6,00,000, and tax rate was 20%. If earnings before interest and tax was ₹ 10,00,000 and Nominal Value of Debentures amounted to ₹ 25,00,000 (assuming the only debt of the company), determine the rate of interest on debentures

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Q 304 Marks Question4 Marks

Calculate Gross Profit Ratio from the following information
Revenue from Operations ₹ 10,00,000; Purchases ₹ 3,60,000; Carriage Inwards ₹ 50,000; Employee benefit Expenses ₹ 1,00,000 (including Wages of ₹ 60,000); Opening Inventory ₹ 60,000 and Average Inventory ₹ 80,000.

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Q 316 Marks Question6 Marks

Describe two basic methods of charging depreciation. Differentiate between both of them.

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Q 326 Marks Question6 Marks

(a) From the following information, calculate Cash flow from Operating Activities.

Particulars	31 March 2023	31 March 2024
Surplus i.e Balance in Statement of Profit and Loss	6,00,000	5,00,000
Provision for Tax	1,00,000	1,20,000
Trade Receivables	2,00,000	2,40,000
Trade Payables	1,50,000	2,00,000
Goodwill	2,00,000	1,50,000

Additional Information:-
Proposed Dividend for the year ended March 31, 2023 and March 31, 2024 was ₹1,50,000 and ₹1,80,000 respectively.
(b) From the following information calculate the Cash from Investing Activities.

Particulars	31 March 2023	31 March 2024
Machinery (Cost)	20,00,000	28,00,000
Accumulated Depreciation	4,00,000	6,50,000

Additional Information:-
(i) Machinery costing ₹ 50,000 (Book Value ₹ 40,000) was lost by fire and insurance claim of ₹ 32,000 was received.
(ii) Depreciation charged during the year was ₹ 3,50,000.
(iii) A part of Machinery costing ₹ 2,50,000 was sold at a loss of ₹ 20,000.

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