CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C

Access the latest CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C. 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

Partnership- Fundamental 
 
ALL questions are Compulsory.
 
I. Following QUESTIONS are of 1 Mark .
 
Q.1 X is a partner who used the stock of the firm worth Rs 10,000 and suffered a loss of Rs 2,000. He went the firm to bear the loss. How much ‘X’ is liable to pay to firm.
 
Q.2 Rajesh and Rakesh two partners draw for private use Rs 1,28,000 and Rs 86000 .Interest is chargeable at 6% per annum on drawings .What is the interest?
 
Q.3 A and B contribute Rs 80,000 and Rs 40,000 respectively by way of capital on which they agree to pay interest @ 6% p.a. Their respective share of profit is 2:3 and the business profit (before interest) for the year is 6,000. Show the relevant account to allocate interest about the treatment of interest on capital.
 
Q.4 It was discovered that in arriving at the profit for 2014, the following two items have been ignored.
(i) Outstanding expenses of Rs 3500 and
(ii) Accurate interest on investment of Rs 2,000
Make journal entries relevant to adjustments.
 
Q.5 A, B and C shared the profit of Rs 9,00,000 in the ratio of 2:2:1 without providing for interest on B’s loan, B granted a loan of Rs 4,00,000 in the beginning of accounting year. Whereas the partnership deed is silent on the interest on loan
and the profit sharing ratio. Give adjusting entry.
 
Q.6 Calculate interest on X’s drawings @ 12% if he withdraws Rs 2,000 per month during the year.
 
Q.7. Calculate interest on X’s drawings @ 12% p.a if he withdraws Rs 2,000 per month during the year.
 
Q.8. Is a partner entitled to salary if he works more than others if partnership deed is silent?
 
Q.9 Distinguish between drawings against profit and drawings against capital. (Any two)
 
Q.10 There is no agreement regarding sharing of profits (or) partnerships salary. Rose is a whole-time partner whereas Lilly does not attend business regularly. Rose claims Rs 3,000 salary a month and 60% of balance profits Rs 24,600 Lilly advanced Rs 10,000as loan and now she claims 10% interest. State how you will settle the accounts.
 
II.Following QUESTIONS are of 3 Marks.
 
Q.11 Tariq and Bilal are partners in a firm. Their capital contribution were Rs 6,00,000 and Rs 4,00,000 respectively. The terms of the Partnership agreement are as follows.
 
(I) 20% of the profit should be transferred to General Reserve.
 
(ii) Interest on capital @ 12% p.a and Interest on drawings @ 10% p.a.
 
(iii)Tariq and Bilal to get a monthly salary of Rs 3,000 and Rs 4,000 respectively.
 
(iv)Bilal is entitled to a commission of Rs 14,000
 
(v)Sharing profits and losses will be in the capital ratio.
The profit for the year ended 31st December, 2014 before making above appropriations was Rs 4,80,000/-. The drawings of Tariq and Bilal were Rs 80,000 and Rs 60,000 respectively. Prepare Profit and loss appropriation account.
 
Q12.On 1st April 2014 A and B entered into partnership contributing Rs 4,00,000 and Rs 3,00,000 respectively. They agreed to share profits and losses in the ratio 3:2. B is allowed a salary of Rs 4,000 per quarter. Interest on capital is to be allowed @10%p.a. During the year A withdrew Rs 18,000 and B Rs 36,000 as drawings. Interest on drawings of A and B was Rs 600and Rs 1,200 respectively. Profit as on 31st December 2014 before the adjustment were Rs 1,25,000. Prepare profit and loss Appropriation Account and Capital account of partner.
 
Q13.What entries will you pass to record the following transactions in the books of the firm A and B before distributing the profits earned?
 
(a) Commission of Rs 50,000 payable to B
 
(b) Interest on capital: A Rs 16,000 and B Rs 10,000.
 
(c) Interest on drawings A Rs 4,000 and B Rs 3,000.
 
(d) Salary payable to A Rs 3,000 per month.
 
(e) Transfer to General Reserve Rs 20,000.
 
Q14. A is a partner in a firm. A has withdrawn Rs 12,000 during the year 2014.
 
(a)Calculate interest on drawings @12% p.a when period is not given.
 
(b)Calculate interest on drawings @12%p.a irrespective of the period.
 
(c)Calculate interest on drawings @12% p.a when A has withdrawn the money on 1st Sep.2014.
 
(d) Calculate interest on drawings @12%p.a when A has withdrawn the money on 15th Nov.2014.
 
Q15. A is a partner in a firm. A’s drawings during the year 2014-15 were as follows:
 
Accounts are closed on 31st March every year. 1st May 14 Rs 1,000 1st November 14 Rs 750 30th June 14 Rs 1,250 31st December14 Rs 500 1st September14 Rs 500 1st March 2015 Rs 1,000 Interest on drawings is charged @10% p.a. Calculate interest on drawings of A.
 
Q16. A, and B were partners sharing profits and losses in the ratio of 2:1.The drawings of the partners were:-
(i)  Rs 1,200 per month by A throughout the year
(ii)  Rs 600 per month by B for 6 months.
Calculate interest on drawing @6% p.a in the following cases. When drawings are made (a) In the beginning of every month, (b) In the middle of every month and (c) At the end of every month.
 
Q17. M and N are partners in a firm. M has given a loan of Rs 8,000 to the firm on 1st April, 2011. The partnership deed is silent upon the question of provision of interest on partner’s loan. Compute the amount of interest payable on the loan advanced by M to the firm assuming the books are closed on 31st December every year.
 
Q18. A and B are partners sharing profits in proportion of 3:2 with capitals of Rs 80,000 and Rs 60,000 respectively. Interest on capital is agreed at 5%p.a. B is to be allowed an annual salary of Rs 6,000 which has not been withdrawn. During 2011, the profits for the year prior to calculation of interest on capital but after charging B’s salary amounted to Rs 24,000. A provision of 5%of this amount is to be made in respect of commission to the manager. Prepare P&L Appropriation a/c.
 
Q.19. A, B and C were partners in a firm having capitals of Rs 80,000, 80,000 and 1,40,000 respectively. According to partnership deed the partners were entitled to interest on capital @ 5% p.a B was also entitled annual salary of Rs 6,000. The profits were to be divided as follows:
 
(i) The first 30,000 in proportion to capitals of partner.
(ii) Next Rs 30,000 in the ratio of 5:3:2.
(iii) Remaining profits to be shared equally.
During the year the firm made a profit of Rs 1,56,000 before charging any of the above items. Prepare the profit & loss appropriation A/c.
 
Q20. A and B are partners in a firm. Their fixed capitals as on 1st Jan.2009 were Rs 2,10,000 and Rs 90,000 respectively. They share profits in the ratio2:1. On 1st May 2009, They decided that their capitals should be readjusted according to their profit sharing ratio. The necessary adjustments in the capitals were made by withdrawing and introducing cash. Interest is allowed on capital @ 12%p.a. Prepare Fixed Capital Account and Compute interest on capital for the year 2009.

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

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 the latest PDF for CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C?

You can download the teacher-verified PDF for CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C from StudiesToday.com. These practice sheets for Class 12 Accountancy are designed as per the latest CBSE academic session.

Are these Accountancy Class 12 worksheets based on the 2026 competency-based pattern?

Yes, our CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C includes a variety of questions like Case-based studies, Assertion-Reasoning, and MCQs as per the 50% competency-based weightage in the latest curriculum for Class 12.

Do you provide solved answers for CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C?

Yes, we have provided detailed solutions for CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C to help Class 12 and follow the official CBSE marking scheme.

How does solving CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C help in exam preparation?

Daily practice with these Accountancy worksheets helps in identifying understanding gaps. It also improves question solving speed and ensures that Class 12 students get more marks in CBSE exams.

Is there any charge for the Class 12 Accountancy practice test papers?

All our Class 12 Accountancy practice test papers and worksheets are available for free download in mobile-friendly PDF format. You can access CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C without any registration.