CBSE Class 12 Accountancy 2025 Sample Paper Set 06 Solved

PART-A :

ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES

1. Naval and Kishore were partners sharing profits and losses in the ratio of 3:1.
Sweta was admitted for 1/5th share in the profits. Sweta was unable to bring her share of goodwill premium in cash. The journal entry recorded for goodwill premium is given below:

The new profit-sharing ratio of Naval, Kishore and Sweta will be:
a) 41: 7: 12
b) 13:12: 10
c) 3:1: 1
d) 5:3: 2

Answer : a

2. Assertion (A):- Commission provided to partner is shown in Profit and Loss A/c.
Reason (R):- Commission provided to partner is charge against profits and is to be provided at fixed rate.
a) (A) is correct but (R) is wrong
b) Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
c) Both (A) and (R) are incorrect.
d) Both (A) and (R) are correct, and (R) is the correct explanation of (A)

Answer : c

3. If 10,000 shares of Rs.10 each were forfeited for non-payment of final call money of Rs.3 per share and only 7,000 of these shares were re-issued @Rs. 11 per 4.share as fully paid up, then what is the minimum amount that company must collect at the time of re-issue of the remaining 3,000 shares?
a) 21,000
b) 9,000
c) 16,000
d) Rs. 30,000
                                                        (OR)
On 1st April 2023, Starke ltd. had a balance of Rs.8,00,000 in Securities Premium account. During the year company issued 20,000 Equity shares of Rs.10 each as bonus shares and used the balance amount to write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of Rs.100 each at a discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P&L for the year for Loss on issue of Debentures would be:
a) Rs.30,00,000.
b) Rs.22,00,000.
c) Rs.24,00,000.
d) Rs.20,00,000.

Answer : b or c

4. Vivek and Manas are partners sharing profits and losses in the ratio of 3:2. The firm maintains fluctuating capital accounts and the balance of the same as on 31st March 2024 is Rs. 4,00,000 and Rs. 4,65,000 for Vivek and Manas respectively.
Drawings during the year were Rs. 65,000 each. As per the partnership Deed, Interest on capital @ 10% p.a. on Opening Capital has been allowed to them.
Calculate the opening capital of Vivek given that the divisible profits during the year 2023-24 was Rs. 2,25,000.
a) Rs. 3,30,000
b) Rs. 4,40,000
c) Rs. 4,00,000
d) Rs. 3,00,000

Answer : d

5. Gopal and Govind are partners. Gopal draws a fixed amount at the beginning of every month. Interest on drawings is charged @8% p.a. At the end of the year interest on Gopal's drawings amounts to Rs. 2,600. Monthly drawings of Gopal were:
a) Rs. 8,000
b) Rs. 60,000
c) Rs. 7,000
d) Rs. 5,000
                                                                      (OR)
Sambit, a partner withdrew Rs. 5,000 in the beginning of each quarter and interest on drawings was calculated as Rs. 1,500 at the end of accounting year 31 March 2024. What is the rate of interest on drawings charged?
a) 6% p.a.
b) 8% p.a.
c) 10% p.a.
d) 12% p.a.

Answer : d or d

6. The profit earned by a firm after retaining Rs. 15,000 to its reserve was Rs. 75,000. The firm had total tangible assets worth Rs. 10,00,000 and outside liabilities Rs. 3,00,000. The value of the goodwill as per capitalization of average profit method was valued as Rs. 50,000. Determine the rate of Normal Rate of Return.
a) 10 %
b) 5 %
c) 12 %
d) 8 %

Answer : c

Please click the link below to download full pdf file for CBSE Class 12 Accountancy 2025 Sample Paper Solved Set 6