CBSE Class 12 Accountancy Compartment Question Paper Solved 2018 Set 1

CBSE Class 12 Accountancy Compartment Question Paper Solved 2018 Set 1. Students can download the last year question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations. 

1. Vinay and Naman are partners sharing profit in the ratio of 4:1. Their capitals were  90,000 and ` 70,000 respectively. They admitted Prateek for 1/3 share in the profits. Prateek brought ` 1,00,000 as his capital. Calculate the value of firm’s goodwill.

2. In which ratio do the remaining partners acquire the share of the deceased partner ?

3. Give the journal entry for the treatment of partner’s loan appearing on the asset side of the Balance Sheet, on dissolution of a partnership firm.

4.  Aman, Yatin and Uma were partners and were sharing profits and losses in the ratio of 5 : 3 : 2. Uma retired and her share was taken over by Aman and Yatin 5 : 3 in ratio.Calculate the gaining ratio of Aman and Yatin.

5. Give two items which may appear on the debit side of a Partner’s Current Account.

6. ‘What is meant by ‘Private Placement of Shares’ ?

7. Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share in the profits. For this purpose the goodwill of the firm was to be valued at four years’ purchase of super profits.The Balance Sheet of the firm on Saurabh’s admission was as follows :

The normal rate of return is 12% per annum. Average profit of the firm for the last four years was ` 30,000. Calculate Saurabh’s share of goodwill.

Please click the link below to download pdf file of CBSE Class 12 Accountancy Compartment Question Paper Solved 2018 Set 1.