CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B

Access the latest CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B. We have provided free printable Class 12 Accountancy worksheets in PDF format, specifically designed for Part 1 Chapter 1 Accounting for Partnership Basic Concepts. These practice sets are prepared by expert teachers following the 2025-26 syllabus and exam patterns issued by CBSE, NCERT, and KVS.

Part 1 Chapter 1 Accounting for Partnership Basic Concepts Accountancy Practice Worksheet for Class 12

Students should use these Class 12 Accountancy chapter-wise worksheets for daily practice to improve their conceptual understanding. This detailed test papers include important questions and solutions for Part 1 Chapter 1 Accounting for Partnership Basic Concepts, to help you prepare for school tests and final examination. Regular practice of these Class 12 Accountancy questions will help improve your problem-solving speed and exam accuracy for the 2026 session.

Download Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts Worksheet PDF

ACCOUNTING FOR PARTNERSHIP FIRMS -
FUNDAMENTALS
 
 
1 In a partnership, partners are charged interest on drawings @15% p.a. During the year ended 31st March, 2018, a partner drew as follows.
 
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B 1
 
2 A and B are partners sharing profits equally. A drew regularly Rs 4,000 at the end of every month for six months ended 30th September, 2018. Calculate interest on drawings @5% p.a. for a period of six months. (IOD `250)
 
3 Ravi and Mohsin are partners in a business. Their capitals at the end of the year were Rs 24,000 and Rs 18,000 respectively. During the year Ravi’s drawings and Mohsin’s drawings were Rs 4,000 and Rs 6,000 respectively. Profit (before charging interest on capital) during the year was Rs 16,000. Calculate interest on capital @5% p.a. for the year ended 31st March, 2018. (IOC : Ravi Rs 1,000; Mohsin Rs 800)
 
4 On 31st March, 2014, balances in the Capital Accounts of E, M and A after making adjustments for profits and drawings were Rs 1,60,000, Rs 1,20,000 and Rs 80,000 respectively. Subsequently, it was discovered that the interest on capital and drawings had been omitted.
 
(i) The profit for the year ended 31st March, 2014 was Rs 40,000.
(ii)During the year E and M each withdrew a total sum of Rs 24,000 in equal instalments in the beginning of each month and A withdrew a total sum of Rs 48,000 in equal instalments at the end of each month.
(iii)The interest on drawings was to be charged @5% p.a. and interest on capital was to be allowed @10%.
(iv)The profit sharing ratio among the partners was 2:1:1
Showing your working notes clearly, pass the necessary rectifying entry.
 
5 The capitals of P, Q and R as on 31st March, 2018 amounted to Rs 1,50,000, Rs 5,50,000 and Rs 11,00,000 respectively. The profits amounting to Rs 3,00,000 for the year 2017-18 were distributed in the ratio of 4:1:1 after allowing interest on capital @10% p.a. During the year, each partner withdrew `50,000 per month in the beginning of each month. The Partnership Deed was silent as to profit sharing ratio and interest on drawings but provided for interest on capital @12% p.a. Showing your working clearly, pass the necessary adjustment entry to rectify the above error.
 
6 X, Y and z are partners in a firm sharing profits & losses in the ratio of 4:2:1. It is provided that Z’s share in profit would not be less than Rs 37,500. The profit for the year ended 31st March, 2018 amounted to Rs 1,57,500. Prepare Profit & Loss Appropriation Account.
(Ans: Share of profit of X Rs 80,000; Y Rs 40,000 and Z Rs 37,500)
 
7 P and Q were partners in a firm sharing profits in the ratio of 5:3. On 1st April, 2014 they admitted R as a new partner for 1/8th share in the profits with a guaranteed profit of `75,000. The new profit sharing ratio between P and Q remain the same but they agreed to bear any deficiency on account of guarantee to R in the ratio of 3:2. The profit of the firm for the year ended 31st March, 2015 was Rs 4,00,000. Prepare Profit & Loss Appropriation Account of P, Q and R for the year ended 31st March, 2015.

Please click on below link to download CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B

Part 1 Chapter 01 Accounting for Partnership Basic Concepts
CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set A
CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set B
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set A
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set D
CBSE Class 12 Accountancy Fundamentals Worksheet Set A
CBSE Class 12 Accountancy Fundamentals Worksheet Set B
CBSE Class 12 Accountancy Partnership Volume Worksheet
Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set A
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set B
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set C
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set A
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set B
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set C
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set A
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set B
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set C
Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner
CBSE Class 12 Accountancy Death of A Partner Worksheet Set A
CBSE Class 12 Accountancy Death of A Partner Worksheet Set B
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set A
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set B
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set C
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D
CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set A
CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set B
Part 1 Chapter 04 Dissolution of Partnership Firm
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set A
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set B
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set C
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Accounting For Companies Worksheet
CBSE Class 12 Accountancy Accounting For Share Capital Worksheet
Part 2 Chapter 02 Issue and Redemption of Debentures
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set A
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set B
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set C
Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements of A Company Worksheet
Part 2 Chapter 04 Analysis of Financial Statements
CBSE Class 12 Accountancy Analysis of Financial Statements Worksheet
CBSE Class 12 Accountancy Tools of Analysis Worksheet Set A
CBSE Class 12 Accountancy Tools of Analysis Worksheet Set B
Part 2 Chapter 05 Accounting Ratios
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set A
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set B
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set C
Part 2 Chapter 06 Cash Flow Statement
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set A
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set B
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set C
z More Worksheets for Class 12 Accountancy
CBSE Class 12 Accountancy All Chapters Question Bank
CBSE Class 12 Accountancy All Chapters Worksheet
CBSE Class 12 Accountancy Worksheet Set A Solved
CBSE Class 12 Accountancy Worksheet Set B Solved
CBSE Class 12 Accountancy Worksheet Set C Solved
CBSE Class 12 Accountancy Worksheet Set D Solved
CBSE Class 12 Accountancy Worksheet Set E Solved
CBSE Class 12 Accountancy Worksheet Set F Solved
CBSE Class 12 Accountancy Worksheet Set G Solved
CBSE Class 12 Accountancy Worksheet Set H Solved
CBSE Class 12 Accountancy Worksheet Set I Solved
~ Class 12 Accountancy (Old Chapters)
CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set A
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set B

Important Practice Resources for Class 12 Accountancy

Part 1 Chapter 1 Accounting for Partnership Basic Concepts CBSE Class 12 Accountancy Worksheet

Students can use the Part 1 Chapter 1 Accounting for Partnership Basic Concepts practice sheet provided above to prepare for their upcoming school tests. This solved questions and answers follow the latest CBSE syllabus for Class 12 Accountancy. You can easily download the PDF format and solve these questions every day to improve your marks. Our expert teachers have made these from the most important topics that are always asked in your exams to help you get more marks in exams.

NCERT Based Questions and Solutions for Part 1 Chapter 1 Accounting for Partnership Basic Concepts

Our expert team has used the official NCERT book for Class 12 Accountancy to create this practice material for students. After solving the questions our teachers have also suggested to study the NCERT solutions  which will help you to understand the best way to solve problems in Accountancy. You can get all this study material for free on studiestoday.com.

Extra Practice for Accountancy

To get the best results in Class 12, students should try the Accountancy MCQ Test for this chapter. We have also provided printable assignments for Class 12 Accountancy on our website. Regular practice will help you feel more confident and get higher marks in CBSE examinations.

Where can I download latest CBSE Practice worksheets for Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts

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Are there any websites that offer free Practice test papers for Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts

Yes, studiestoday.com provides all the latest Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts test practice sheets with answers based on the latest books for the current academic session