CBSE Class 12 NCC Compartment Question Paper 2023 with Answer Key pdf is available for download here. The exam was conducted by Central Board of Secondary Education on July 17, 2023 in the Morning Session 10:30 AM to 1:30 PM. The question paper comprised a total of 18 questions divided among 2 sections.
CBSE Class 12 NCC Compartment Question Paper 2023 with Answer Key
Anuj, Divij and Shilpa were partners in a firm sharing profits and losses in the ratio of 2:1:2. Their Balance Sheet as at 31st March, 2023 was as follows:
Balance Sheet of Anuj, Divij and Shilpa as at 31st March, 2023
Liabilities
Amount (Rs)
Assets
Amount (Rs)
Capitals:
Land & Building
8,00,000
Anuj 3,00,000
Furniture
2,40,000
Divij 4,00,000
Stock
1,20,000
Shilpa 5,00,000
12,00,000
Debtors
1,70,000
Bills Payable
60,000
Cash
50,000
Creditors
1,20,000
13,80,000
13,80,000
Anuj retired on the above date on the following terms:
(i) Anuj's share of goodwill was valued at Rs 90,000 and the same was to be treated without opening goodwill account.
(ii) Revaluation of assets and reassessment of liabilities resulted in a gain of Rs 25,000.
(iii) Amount due to Anuj was transferred to his loan account, to be paid in two equal yearly instalments plus interest @ 12% p.a. on the unpaid balance starting from 31st March, 2024.
Prepare Partners' Capital Accounts and Anuj's Loan Account till it is fully discharged.
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:
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