CBSE Class 12 Accountancy Worksheet Set 02 Solved

Download Class 12 Accountancy Worksheets for All Chapters

Access printable practice worksheets for All Chapters designed to align with the 2026-27 academic syllabus for Class 12 Accountancy. These structured exercises help students evaluate their conceptual understanding and improve exam readiness.

Access All Chapters Questions and Exercises

Navigate directly to the printable exercises for All Chapters using the digital viewer below. Each practice set allows students to isolate specific topics for thorough review and uninterrupted practice alongside standard textbooks.

1. State any two circumstances, when need for valuation of goodwill of a firm may arise. 
 
2. Calculate interest on drawings of Mr.Soman @ 10%p.a. for the year ended 31st March, 2018 if he withdrew ₹.6,000 at the end of each quarter.
 
3. How does the factor ‘efficiency of management’ affect the Goodwill of a firm? 
 
4. X, Y and Z are partners in a firm. They admitted W their landlord as a partner in the firm. W brings sufficient amount of capital and goodwill premium for his share in the profits. W had given a loan of ₹.1,00,000 @ 10% p.a. interest to the partnership firm before he became the partner. Now the accountant of the frim is emphasizing that the interest on loan should be paid @ 6%p.a. Is he right in doing so? Give reason in support of your answer.
 
5. What do you mean by Number of years purchase? 
 
6. Ameena, Beena and Davina are partners in a firm. Their capital accounts stood at ₹.4,00,000; ₹.3,00,000 and ₹.2,00,000 respectively on 1st April 2018. They shared profits and losses in the ratio of 3:2:1 respectively. Partners are entitled to interest on capital @ 6% per annum and salary to Beena and Davina @ ₹.2,000 per month and ₹.3,000 per quarter respectively as per the provisions of Partnership Deed.
Beena’s share of profit including interest on capital but excluding salary is guaranteed at a minimum of ₹.41,000 p.a. Any deficiency arising on that account shall be met by Davina. Profit for the year ended 31st March 2019 amounted to ₹.1,56,000. Prepare Profit and Loss Appropriation Account.
 
OR
 
A, B and C were partners. Their capitals were A - ₹.1,20,000; B - ₹.80,000 and C - ₹.40,000 respectively. According to the Partnership Deed, they were entitled to an interest on capital @ 5% p.a. in addition, B was also entitled to draw a salary of ₹.2,000 per month. C was entitled to a commission of 5% on the profits after charging interest on capital , but before charging the salary payable to B. The net profit for the year were ₹.1,20,000 distributed in the ratio of capitals without providing for any of the above adjustments. The profits were to be shared in the ratio of 5:3:2. Pass necessary adjustment entry showing the workings clearly.
 
7. Average profit of the firm is ₹. 3,00,000. Total tangible assets in the firm are ₹.28,00,000 and outside liabilities are ₹.8,00,000. In the same type of business the normal rate of return in similar business is 10%. Find the value of goodwill by Capitalization of Super Profit Method.
 
OR
 
X and Y are partners sharing profits and losses in the ratio of 3:2. They admit Z into partnership for 1/4th share in goodwill. Z brings in his share of goodwill in cash. Goodwill for this purpose is to be calculated at two years purchase of the average normal profit of past three years. Profits of the last three years ended 31st March were:
2016- Profit ₹.1,00,000 (including profit on sale of assets ₹.10,000)
2017- Loss ₹.40,000 (including loss by fire ₹.60,000)
2018- Profit ₹.1,40,000 (including insurance claim received ₹.36,000 and interest on investments and Dividend received ₹.16,000) Calculate value of goodwill.
 
8. Rohan and Mohan entered into partnership on 1st April, 2018 and contributed ₹.4,00,000 and ₹.3,00,000 respectively as their capitals. On 1st October, 2018 Rohan provided ₹.1,00,000 as loan to the firm. As per the provisions of the Partnership Deed:
 
a) 20% of profits before charging Interest on Drawings but after making appropriations to be transferred to General Reserve.
b) Interest on capital @ 12% p.a. and Interest on Drawings @ 10% p.a.
c) Rohan to get monthly salary of ₹.10,000 and Mohan to get salary of ₹.45,000 per quarter.
d) Rohan is entitled to a commission of 5% on sales. Sales for the year were ₹.7,00,000.
e) Profit and loss to be shared in the ratio of their capital contribution up to ₹.3,50,000 and above equally. The profits for the year ended 31st March, 2019 before providing for any interest was ₹.9,22,000. The drawings of Rohan and Mohan were ₹.2,00,000 and ₹.2,50,000 respectively. Prepare necessary ledger accounts
 
OR
 
Anita and Binita are partners sharing profits and losses in the ratio of 3:1. On 1st April, 2018 their Fixed capitals were Anita ₹.1,00,000 and Binita ₹.60,000. During the year ended 31st March, 2019 they earned a net profit of ₹.1,00,000. The terms of partnership are :
a) Interest on capital is to be allowed @ 6%p.a.
b) Anita will get a commission @ 2% on turnover.
c) Binita will get a salary of ₹.1,000 per month.
d) Binita will get commission of 5% on profits after deduction of all expenses including such commission. Partners drawings for the year were: Anita ₹.16,000 and Binita ₹.12,000. Turnover for the year was ₹.6,00,000. After considering the above facts, you are required to prepare the necessary ledger accounts.


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

Free study material for Accountancy

Exam Preparation Worksheet for Class 12 Accountancy All Chapters

CBSE Practice Material: Class 12 Accountancy All Chapters

Access structured practice worksheets for All Chapters designed in alignment with the latest CBSE curriculum for Class 12 Accountancy. These printable problem sets help students build accuracy and prepare effectively for school tests.

NCERT-Aligned Questions and Solutions

Cross-reference your completed exercises with comprehensive NCERT solutions for Class 12 Accountancy to ensure absolute clarity across all sub-topics in this chapter.

Next Steps in Your Exam Preparation

Follow up your worksheet practice by attempting the interactive online Accountancy MCQ test for this chapter to evaluate your execution speed. All platform resources are free to access.

FAQs

Where can I download the latest PDF for CBSE Class 12 Accountancy Worksheet Set 02 Solved?

You can download the teacher-verified PDF for CBSE Class 12 Accountancy Worksheet Set 02 Solved 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 2026-27 competency-based pattern?

Yes, our CBSE Class 12 Accountancy Worksheet Set 02 Solved 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 Worksheet Set 02 Solved?

Yes, we have provided detailed solutions for CBSE Class 12 Accountancy Worksheet Set 02 Solved to help Class 12 and follow the official CBSE marking scheme.

How does solving CBSE Class 12 Accountancy Worksheet Set 02 Solved 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 Worksheet Set 02 Solved without any registration.