CBSE Class 12 Accountancy Sample Paper 2017 Set 06

Accountancy
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Sample Question Papers for Class 12 Accountancy

Access comprehensive sample question papers for Class 12 Accountancy using the CBSE Class 12 Accountancy Sample Paper 2017 Set 06. Designed to align with the 2026-27 CBSE academic guidelines, these model papers help students assess their exam readiness and understand current marking schemes.

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PART A: ACCOUNTING FOR PARTNERSHIP FIRMS AND COMPANIES

Q1. A, B and C are partners sharing profits and losses in the ratio of 5:3:2. C retired and his capital balance after adjustments regarding reserves, accumulated profits/ losses and gain/loss on revaluation was `2,50,000. C was paid `3,00,000 in full settlement. Afterwards D was admitted for 1/4th share. Calculate the amount of goodwill premium brought by D.
Sol: Goodwill share of C= `3,00,000-`2,50,000= `50,000
Firm’s Goodwill = 50,000x10/2= `2,50,000
D’s share in Goodwill= `2,50,000x1/4= `62,500 
 
Q2. 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 (1)
 
Q3. A and B are partners. The net divisible profit as per Profit and Loss Appropriation A/c is `2,50,000. The total interest on partner’s drawing is `4,000. A’s salary is `4,000 per quarter and B’s salary is `40,000 per annum. Calculate the net profit/loss earned during this year.
Sol. Net Profit during the year=Divisible profits + Salary to partners – Interest on Drawings
= 2,50,000+16,000+40,000-4000= `3,02,000 
 
Q4. ABC Ltd. purchased for cancellation its own 5,000, 9% Debentures of `100 each for `95 per debenture. Brokerage charges `15,000 were incurred. Calculate the amount to be transferred to capital reserve.
Amount paid for 5,000 Debentures=4,75,000+15,000= `4,90,000
The nominal value of debentures to be redeemed/cancelled= `5,00,000
Amount of profit on redemption to be transferred to capital reserve= `5,00,000--`4,90,000= `10,000 
 
Q5. When can shares held by a shareholder be forfeited?
Answer: Shares held by a shareholder can be forfeited for the non-payment of call money due.
 
Q6. A partnership firm has 50 members. All the partners have agreed to admit Ram and Mohan as new partners. Can Ram and Mohan be admitted? Give reason in support of your answer.
Answer: No, Ram and Mohan can’t be admitted as partners.
Reason--- As per the Companies Miscellaneous Rules, 2014 the Maximum number of partners in a partnership firm can be 50.
 
 
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Explore downloadable sample sets for Class 12 Accountancy. Utilizing the CBSE Class 12 Accountancy Sample Paper 2017 Set 06 allows learners to gauge exam readiness and master official CBSE assessment structures.

Key Advantages of Solving CBSE Class 12 Accountancy Sample Paper 2017 Set 06

  • Original Practice Material: Access unique questions for Accountancy designed to challenge your understanding.
  • Self-Assessment: Evaluate scores per set to pinpoint weak zones in Class 12 Accountancy.
  • Exam Completion Skills: Routine problem sets train you to manage test duration efficiently without stress.

How to Analyze Your Performance in CBSE Class 12 Accountancy Sample Paper 2017 Set 06

  1. Review Solutions: Evaluate your completed papers using expert-verified guidance inside our solution sets.
  2. Target Weaknesses: Class 12 students should analyze missed questions to rectify conceptual misunderstandings.
  3. Deep Revision: Re-read sections in the NCERT book for Class 12 Accountancy to clear doubts before solving items again.

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