CBSE Class 12 Accountancy Worksheet Set 07 Solved

Class 12 Accountancy Practice Set: 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.

Download All Chapters Worksheet PDF

Access the complete worksheet PDF for All Chapters below. Regular practice with these targeted questions builds familiarity with standard exam patterns and helps secure higher marks in final Accountancy evaluations.

1 Differentiate between ‘Dissolution of Partnership and Dissolution of partnership firm on the basis of ‘Economic relationship’.
 
2 Pass the necessary journal entry if Sarthak paid the realization expenses of ₹.16,000 out of his private funds, who was to get a remuneration of ₹.15,000 for completing dissolution process and was responsible to bear all the realization expenses.
 
3 Following is the Balance Sheet of Preeta, Reeta and Seeta who are sharing profits in the ratio 2:1:2 as on 31st March 2017.

CBSE Class 12 Accountancy Worksheet Set G Solved 1

Preeta died on 30th September 2017. She had withdrawn ₹.44, 000 from her capital on July 1, 2017. According to the partnership agreement, she was entitled to interest on capital @8% p.a. Her share of profit till the date of death was to be calculated on the basis of the average profits of the last three years. Goodwill was to be calculated on the basis of three times the average profits of the last four years. The profits for the years ended 2013-14, 2014-15 and 2015-16 were ₹. 60,000, ₹.1,40,000 and ₹. 1,60,000 respectively. Prepare Preeta’s account to be rendered to her executors.
 
4 N, S and G were partners in a firm sharing profits and losses in the ratio of 2:3:5. On 31.3.2016 their Balance Sheet was as under :
 
Balance Sheet of N, S and G as on 31.3.2016

CBSE Class 12 Accountancy Worksheet Set G Solved 2

G retired on the above date and it was agreed that
(i) Debtors of ₹.6,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained.
(ii) Patents will be completely written off and stock, machinery and building will be depreciated by 5%.
(iii) An unrecorded creditor of ₹. 30,000 will be taken into account.
(iv) N and S will share the future profits in 2 : 3 ratio.
(v) Goodwill of the firm on G’s retirement was valued at ₹. 90,000. Pass necessary journal entries for the above transactions in the books of the firm on G’s retirement.
 
5 X, Y and Z were partners sharing profits in the ratio of 2:2:1. The Balance Sheet on 31st March, 2010, when they dissolved the firm was as follows

CBSE Class 12 Accountancy Worksheet Set G Solved 3

It was agreed that :
(i) X to take over furniture at ₹.8,000 and debtors amounting to ₹.1,20,000 at ₹.1,17,200 and the creditors of ₹.16,000 were to be paid by him at this figure.
(ii) Y is to take over all stock for ₹.17,000 and some sundry assets at ₹.72,000 (being 10% less than the book value)
(iii) Z to take over remaining sundry assets at 80% of the book value and assume the responsibility of discharge of loan together with accrued interest of ₹.2,300.
(iv) The expenses of realization were ₹.2,700. The remaining debtors were sold to a debt collecting agency at 50% of the value.
Prepare necessary accounts to close the books of the firm.
 

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

Free study material for Accountancy

Practice Worksheet and Study Resources for Class 12 Accountancy All Chapters

Chapter Practice Questions for Class 12 Accountancy

Review targeted practice exercises for Class 12 Accountancy All Chapters. Curated to match official CBSE guidelines, these downloadable PDF sheets support daily revision and core concept reinforcement.

Expert Practice Material for Class 12 Accountancy

Built using the official NCERT book for Class 12 Accountancy, these practice materials provide reliable academic guidance. Pair your practice with our recommended NCERT solutions to master optimal problem-solving approaches.

Complete Your Chapter Revision

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 07 Solved?

You can download the teacher-verified PDF for CBSE Class 12 Accountancy Worksheet Set 07 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 07 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 07 Solved?

Yes, we have provided detailed solutions for CBSE Class 12 Accountancy Worksheet Set 07 Solved to help Class 12 and follow the official CBSE marking scheme.

How does solving CBSE Class 12 Accountancy Worksheet Set 07 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 07 Solved without any registration.