CBSE Class 12 Accountancy Question Paper 2014 (Set 1)

CBSE CLASS XII Questions

• 1.

  Namita, Narendra and Kunwar were partners in a firm sharing profits and losses in the ratio of 3 : 1 : 1. The firm closes its books on 31st March every year. Kunwar died on 30th September, 2025. His share in the profits of the firm from 1st April, 2025 to 30th September, 2025 was calculated as per the provisions of the partnership deed which amounted to ₹ 15,600. On the date of Kunwar's death, the Balance Sheet of the firm showed General Reserve of ₹ 40,000 and Profit and Loss Account (Dr.) ₹ 80,000. Pass necessary journal entries on Kunwar's death in the books of the firm.

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• 2.

  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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• 3.

  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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• 4.

  Naisha, Mansi and Aakash were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 2. On 1st January, 2025, Aakash advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership deed, the amount of interest on loan due to Aakash on 31st March, 2025 will be :

  • ₹ 18,000
    
  • ₹ 4,500
    
  • ₹ 9,000
    
  • ₹ 30,000
    
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• 5.

  John, Honey and Racob were partners in a firm sharing profits and losses equally. On 31st July, 2025 John died. His share in the profits of the firm from the date of last balance sheet till the date of his death will be:

  • Debited to Profit and Loss Account
    
  • Credited to Profit and Loss Account
    
  • Debited to Profit and Loss Suspense Account
    
  • Credited to Profit and Loss Suspense Account
    
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• 6.

  From the following information obtained from the books of 'Ajanta Ltd.', calculate Cash from Operations: Net Profit for the year ended 31st March, 2025 after charging depreciation of ₹ 80,000 and after writing off goodwill ₹ 10,500 was ₹ 4,90,000. Additional Information:

  

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