CBSE Class 12 Accountancy Boards 2025 Sample Paper Solved

PART A

(Accounting for Partnership Firms and Companies)

Part A :- Accounting for Partnership Firms and Companies

1. Anthony a partner was being guaranteed that his share of profits will not be less than ₹60,000 p.a. Deficiency, if any was to be borne by other partners Amar and Akbar equally. For the year ended 31st March, 2024 the firm incurred loss of ₹ 1,80,000.
What amount will be debited to Amar’s Capital Account in total at the end of the year?
A. ₹ 60,000
B. ₹ 1,20,000
C. ₹ 90,000
D. ₹ 80,000

Answer : B

2. Assertion: Partner’s current accounts are opened when their capital are fluctuating.
Reasoning: In case of Fixed capitals all the transactions other than Capital are done through Current account of the partner.
A. Both A and R are true and R is the correct explanation of A.
B. Both A and R are true but R is not the correct explanation of A.
C. A is true but R is false
D. A is false but R is true

Answer : D

3. Forfeiture of shares leads to reduction of _________________Capital.
A. Authorised
B. Issued
C. Subscribed
D. Called up

Answer : C

OR

Moon ltd. issued 40,000, 10% debentures of ₹100 each at certain rate of discount and were to be redeemed at20% premium. Exiting balance of Securities premium before issuing of these debentures was ₹12,00,000 and after writing off loss on issue of debentures , the balance in Securities Premium was ₹2,00,000. At what rate of discount these debentures were issued?
A. 10%
B. 5%
C. 25%
D. 15%

Answer : B