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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. What is dissolution of a firm?
2. List any two items which are not transferred to Realisation Account
3. The Balance Sheet of Sanjay, Rajan and Kavi who were sharing profits in the ratio of 4:2:4 as on 31st March, 2014 was as follows:
Balance Sheet as at 31st March, 2014
Sanjay died on 31st July, 2014. The Partnership Deed provided for the following on the death of a partner:
(i)Goodwill of the firm be valued at two years’ purchase of average profits for the last three years.
(ii)Sanjay’s share of profit or loss till the date of his death was to be calculated on the basis of sales. Sales for the year ended 31st March, 2014 amounted to Rs.4,50,000 and that from 1st April to 31st July, 2014 to Rs.2,70,000. The profit for the year ended 31st March, 2014 was calculated as Rs.1,25,000.
(iii)Interest on capital was to be provided @ 5% p.a.
(iv)The average profit of the last three years were Rs.55,000. Prepare Sanjay’s Capital Account to be rendered to his executor.
4. On 31st March, 2018 the Balance Sheet of Anant, Binoy and Charan sharing profits and losses in the proportion to their capitals, stood as follows
Binoy retires from the firm on 1st April, 2018 and the remaining partners decide to carry on the partnership. Following adjustments of assets and liabilities have been agreed upon before the ascertainment of the amount payable to Binoy.
(i)That out of Fire Insurance Premium paid during the year Rs.10,000 be carried forward as unexpired.
(ii)Provision for doubtful debts be brought up to 5% of debtors.
(iii)Provision of Rs.15,000 be made for repairs.
(iv)Land and Building be appreciated by 10%.
(v)Machinery be decreased by 5%.
(vi)Goodwill of the entire firm be fixed at Rs.1,80,000 and Binoy’s share of the same be adjusted in the accounts of Anant and Charan who share the future profits in the proportion of 3/4th and 1/4th respectively.
(vii)Binoy be paid Rs.50,000 in cash and the balance be transferred to his Loan Account. Prepare Revaluation A/c and Capital Accounts of Partners
5. Xavier, Yash and Zayn were partners sharing profits in the ratio of 2:2:1. The Balance Sheet as at 31st March, 2018 when they dissolved the firm was as follows:
It was agreed that :
(i)Xavier to take over furniture at Rs.8,000 and debtors amounted to Rs.1,20,000 at Rs.1,17,200 and the creditors of Rs.16,000 were to be paid by him at this figure.
(ii)Yash is to take over all stock for Rs.17,000 and some sundry assets at Rs.72,000 (being 10% less than the book value)
(iii)Zayn 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 Rs.2,300.
(iv)The expenses of realization were Rs.2,700. The remaining debtors were sold to a debt collecting agency at 50% of the value.
Prepare Realisation Account, Partners’ Capital Account and Cash Account to close the books of the firm.
Please click on below link to download CBSE Class 12 Accountancy Worksheet Set H Solved
| 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 |
| CBSE Class 12 Accountancy Accounting For Companies Worksheet |
| CBSE Class 12 Accountancy Accounting For Share Capital Worksheet |
| CBSE Class 12 Accountancy Financial Statements of A Company Worksheet |
| 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 |