CBSE Class 12 Accountancy Sample Paper 2021 Set 04

Accountancy
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Official CBSE Practice Papers for Class 12 Accountancy

Access comprehensive sample question papers for Class 12 Accountancy using the CBSE Class 12 Accountancy Sample Paper 2021 Set 04. Designed to align with the 2026-27 CBSE academic guidelines, these model papers help students assess their exam readiness and understand current marking schemes.

Solved Model Papers for Accountancy

Access the complete sample paper PDF for Class 12 Accountancy below. Regular practice with these targeted mock exams builds familiarity with expected question patterns and chapter weightage to help secure higher marks.

PART A
 
Accounting for Not-for-Profit Organisations, Partnership Firms and Companies.
 
1 Name the asset that is not transferred to the debit side of Realisation Account, but brings certain amount of cash against its disposal at the time of the dissolution of the firm.
 
2 Under what circumstances premium for goodwill paid by the incoming partner is not recorded in the books of accounts.
Or
Why is General Reserve distributed among the old partners before new partner is admitted?
 
3 How are Not-For-Profit organizations organized?
Or
Income and Expenditure Account is prepared on Cash Basis of Accounting. Is the statement correct?
 
4 A and B were partners in a firm sharing profits in the ratio of 2:1. During the year ended 31-3-2018, A had withdrawn ` 50,000. Interest on drawings amounted to `1,500. Pass necessary journal entry for charging interest on drawings assuming that the capitals of the partners were fixed.
 
5 At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner?
 
6 Differentiate between ‘Equity Share’ and ‘Debenture’ on the basis of risk involved.
Or
What is meant by ‘Employee Stock Option Plan’?
 
7 On April 1, 2018 an existing firm had assets of ` 5,00,000 including cash of ` 25,000. The partner’s capital accounts showed a balance of ` 3,50,000 and reserve constituted the rest. If the normal rate of return is 10% and the goodwill of the firm is valued at ` 1,32,000 at 4 year’s purchase of super profits, find the average profits of the firm.
 
8 Dhariwal Ltd. had issued 40,000, 11% Debentures of ` 100 each of which one-half are due for redemption on March 31st 2015. It was decided to invest the required amount towards Debenture Redemption Investment. The company has in its Debenture Redemption Reserve Account balance of ` 3,10,000. Record the necessary journal entries at the time of Redemption of Debentures.
 
9 Venus Ltd took over assets of ` 10,00,000 and liabilities of ` 1,80,000 of Cayns Ltd. for `7,60,000. Venus Ltd. issued 9% Debentures of ` 100 each at a discount of 5% in full satisfaction of the purchase consideration in favour of Cayns Ltd. Pass necessary journal entries in the books of Venus Ltd. for the above transactions.
Or
Haider Limited obtained a loan of ₹ 5,00,000 from State Bank of India @ 10 % interest. The company issued ₹ 7,50,000, 10 % debentures of ₹ 100/- each, in favor of State Bank of India as collateral security. Pass necessary journal entries for the above transactions:
(i). When company decided not to record the issue of 10 % Debentures as collateral security.
(ii). When company decided to record the issue of 10 % Debentures as collateral security.
 
10 During the year 2017-18 salaries paid amounted to ` 2,40,000. From the following information, show the salaries item in the Income and Expenditure Account for the year ending 31st March, 2018.

CBSE Class 12 Accountancy Sample Paper 2021 Set D 1

11 P, Q and R are sharing profits and losses in the ratio of 5:3:2. They decided to share future profits and losses in the ratio of 2:3:5 with effect from 1st April, 2018. They also decide to record the effect of the following revaluations without affecting the book value of the assets and liabilities by passing a single adjustment entry.

CBSE Class 12 Accountancy Sample Paper 2021 Set D 2

Pass necessary single adjustment entry.
 
12 A, B and C were partners in a firm sharing profits in 3:2:1 ratio. The firm closes its books on 31st March every year. B died on 12th June, 2011. On B’s death the goodwill of the firm was valued at ` 3,00,000. On B’s death his share in the profits of the firm till the time of his death was to be calculated on the basis of previous year’s profit which was `7,50,000. Calculate B’s share in the profit of the firm. Pass necessary journal entries for the treatment of goodwill and B’s share of profit at the time of his death
 
13 Following is the Receipts and Payments Account of an Entertainment Club for the period of April 1, 2016 to March 31, 2017.

CBSE Class 12 Accountancy Sample Paper 2021 Set D 3

Additional Information:
(i) Advance Subscription on 31st March, 2016 : ` 7,000
Subscription in arrear on 31st March, 2017 : `13,000
(ii) Locker Rent ` 3,050 was outstanding for the year 2015-16 and ` 1,500 for 2016-17.
(iii) Opening Stock of Printing and Stationery ` 2,000 and Closing Stock of Printing and Stationery is ` 3,000 for the year 2016-17.
(iv) On 1st april, 2016 other balances were as under :
Furniture ` 1,00,000
Sports Fund ` 15,000
(v) Depreciate Furniture @ 12.5% p.a. Prepare Income and Expenditure Account for the year ending 31st March, 2017.
 
14 Girija and Ganesh were partners in a firm sharing profits and losses in the ratio of 2:3. On 31st March, 2017 their Balance Sheet was as follows:

CBSE Class 12 Accountancy Sample Paper 2021 Set D 4

On the above date the firm was dissolved. The assets were realized and the liabilities were paid off as follows:
(a) Debtors of ` 6,000 were proved bad.
(b) Girija agreed to pay off her brother’s loan.
(c) One of the creditors for ` 10,000 was paid only ` 3,000 in full settlement of his account.
(d) Buildings were auctioned for ` 1,80,000 and the auctioneer’s commission amounted to ` 8,000.
(e) Ganesh took over part of stock at ` 4,000 (being 20% less than the book value). Balance of the stock was handed over to the remaining creditors in full settlement of their account.
(f) Investments realized ` 9,000 less.
(g) Realisation expenses amounted to ` 17,000 and were paid by Ganesh.
 
Prepare Realisation Account, Partners’ Capital Accounts and Bank Account


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Exam Preparation Sample Paper for Class 12 Accountancy CBSE Class 12 Accountancy Sample Paper 2021 Set 04

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Key Advantages of Solving CBSE Class 12 Accountancy Sample Paper 2021 Set 04

  • Exam Blueprint: Understand mark allocations and structural guidelines relevant to Class 12 evaluations.
  • Targeted Improvement: Identify weak areas in Class 12 Accountancy requiring focused revision.
  • Pacing & Precision: Practice mixed question formats to build execution speed and ensure timely paper completion.

Post-Practice Strategy for Class 12 Accountancy

  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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