CBSE Class 12 Accountancy Question Paper 2004 (Set 67-1-2)

CBSE CLASS XII Questions

• 1.

  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.

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• 2.

  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 \( \frac{13}{40} \)
    
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• 3.

  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
    
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• 4.

  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
    
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• 5.

  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.

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• 6.

  Sushil and Sapna were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2025, the firm was dissolved. On the date of dissolution there existed a balance of ₹ 1,20,000 in sundry creditors account. The sundry creditors were payable after three months. They were paid immediately at a discount of 12% p.a. The amount paid to sundry creditors was :

  • ₹ 1,20,000
    
  • ₹ 1,23,600
    
  • ₹ 1,16,400
    
  • ₹ 1,34,400
    
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