CBSE Class 12 Accountancy Worksheet Set 03 Solved

Find CBSE Class 12 Accountancy Worksheet Set 03 Solved right below. We offer free printable Class 12 Accountancy worksheets in PDF for All Chapters. Built by expert teachers for the 2026-27 session, these practice exercises align with standard CBSE, NCERT, and KVS patterns.

All Chapters Accountancy Practice Worksheet for Class 12

Are you in Class 12 Accountancy? Try these chapter-wise worksheets every day to make your concepts of All Chapters very clear. The practice papers contain useful questions and answers for school tests. Solving these Class 12 Accountancy problems regularly will build your speed and help you score high marks in the 2026-27 exams.

Class 12 Accountancy All Chapters Printable PDF Worksheet

1. Calculate interest on drawings of Mr. Shyam @ 10% p.a. for the year ended 31st March, 2018 if he withdrew ₹.6,000 in the middle of each quarter.
 
2. How does the factor ‘efficiency of management’ affect the Goodwill of a firm? 
 
3. What do you mean by Number of years purchase? 
 
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. State any two circumstances, when need for valuation of goodwill of a firm may arise. 
 
6. A, B and C were partners. Their capitals were A - ₹.60,000; B - ₹.40,000 and C - ₹.20,000 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 ₹.1,000 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 ₹.60,000 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.
 
OR
 
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.
 
7. 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.
 
OR
 
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.
 
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 C Solved

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Practice Worksheet & Study Resources for Class 12 Accountancy All Chapters

Download Practice Sheet: All Chapters (Class 12 Accountancy)

Access the All Chapters practice worksheet above to gear up for forthcoming school assessments. Following the active CBSE curriculum for Class 12 Accountancy, these solved questions are simple to download in PDF format for daily practice. Built by expert educators around high-yield exam themes, these exercises help raise your overall test scores.

Expert NCERT Practice Material for Class 12 Accountancy

Crafted around the official NCERT book for Class 12 Accountancy, these worksheets help reinforce core concepts. Once finished, students are advised to read our expert NCERT solutions to master standard problem-solving methodologies in Accountancy. Access all study materials online for free.

Improve Your Scores with Accountancy MCQ Tests

Maximize your performance in Class 12 by taking the interactive Accountancy MCQ test for this topic. Explore our website for additional printable assignments tailored for Class 12 Accountancy. Routine practice drives test confidence and maximizes success in CBSE board exams.

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Are these Accountancy Class 12 worksheets based on the 2026-27 competency-based pattern?

Yes, our CBSE Class 12 Accountancy Worksheet Set 03 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.

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Yes, we have provided detailed solutions for CBSE Class 12 Accountancy Worksheet Set 03 Solved to help Class 12 and follow the official CBSE marking scheme.

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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.

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