CBSE Class 12 Accountancy Worksheet Set G Solved

Download printable Accountancy Class 12 Worksheets in pdf format, CBSE Class 12 Accountancy Worksheet Set G Solved has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Accountancy Class 12 Assignments and practice them daily to get better marks in tests and exams for Grade 12. Free chapter wise worksheets with answers have been designed by Standard 12 teachers as per latest examination pattern

Worksheet for Class 12 Accountancy

Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Accountancy in Grade 12. This test paper with questions and solutions for Standard 12 Accountancy will be very useful for tests and exams and help you to score better marks

Class 12 Accountancy Worksheet Pdf

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 She had withdrawn ₹.44, 000 from her capital on July 1, 2017.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.

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Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements of A Company Worksheet

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