Read and download CBSE Class 12 Accountancy Question Paper 2021 Set B Solved designed as per the latest question paper pattern and Class 12 examination guidelines issued by CBSE, NCERT and KVS. The past year Question Papers for Class 12 Accountancy have been provided with solutions which will help students to assess their performance and find out topics in Accountancy grade 12 which they need to improve to get better marks in Standard 12 exams. After solving these last year papers also refer to solved Sample Papers for Class 12 Accountancy available on our website to build strong understanding of the subject
Question Paper for Class 12 Accountancy 2021 Pdf
Students can refer to the below Class 12 Accountancy Question Paper designed to help students understand the pattern of questions that will be asked in Grade 12 exams. Please download CBSE Class 12 Accountancy Question Paper 2021 Set B Solved
Accountancy Class 12 Question Paper 2021
PART A: ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES
1 A and B are partners sharing profit and losses in the ratio of 2:3. C is admitted for 1/5th share in the profits of the firm. If C gets it wholly from A, Calculate the new profit sharing ratio after C‟s admission.
SOL :1:3:1
2 A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were ` 3,85,000 and ` 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C.
Sol: Combined capital of A and B = ` 3,85,000 + ` 4,15,000 = ` 8,00,000 C’s Share= 1/5th of total
capital
Remaining share = 1-1/5=4/5 4/5 = ` 8,00,000
C’s capital = ` 8,00,000x5/4x1/5 = ` 2,00,000
3 A, B and C were partners sharing profits in the ratio of 5:3:2. B retires on January 1, 2018 with A and C agreeing to share the profits in future in the ratio of 6:4. Find the gaining ratio.
Sol. Gaining Ratio = New Ratio – Old Ratio
A's Gaining Ratio = 6/10-5/10 = 1/10
C's Gaining Ratio = 4/10-2/10=2/10
Gaining Ratio = 1:2
4 How is dissolution of partnership different from dissolution of partnership firm?
Sol: In case of dissolution of partnership, the firm continue to do business but with a changed agreement. In case of dissolution of partnership firm, the firm ceases to exist, the assets of the firm are realised and its liabilities are discharged.
5 ABC Ltd. Purchased for cancellation its own ` 5,000, 9% Debentures of 100 each for 95 per debenture. The brokerage charges 15,000 were incurred. Calculate the amount to betransferred to capital reserve.
Sol. Amount paid for ` 5,000 Debentures= ` 4,75,000 + ` 15,000 = ` 4,90,000 The nominal value
of debentures to be redemption/cancelled = ` 5,00,000
Amount of profit on redemption to be transferred to capital reserve = ` 5,00,000 - ` 4,90,000= 10,000
6 ABC Ltd., in order to retain high caliber employees or to give them a belongingness, company has offered a choice to the whole time directors, officers and employees, the right to purchase or subscribe at a future date, the securities or equity shares offered by the company at a pre-determined rate. State what type of plan ABC Ltd, has implemented here.
Sol: Employee Stock Option Scheme
7 Saurabh, Viktram and Kanth were partner in the firm. Vikram retired on March31st, 2016. All revaluation and goodwill adjustments were made and his claim came to be ` 3,20,000. The amount has been transferred to Vikram's Loan a/c.The amount is paid in four equal installments plus interest @12%.
Prepare Vikramloan a/c for first three years.
Please click on below link to download CBSE Class 12 Accountancy Question Paper 2021 Set B Solved
Books recommended by teachers
| CBSE Class 12 Accountancy Question Paper 2012 |
| CBSE Class 12 Accountancy Question Paper SA1 2012 (1) |
| CBSE Class 12 Accountancy Question Paper SA1 2012 (2) |
| CBSE Class 12 Accountancy Question Paper 2007 (1) |
| CBSE Class 12 Accountancy Question Paper 2007 (2) |
| CBSE Class 12 Accountancy Question Paper 2007 (3) |