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                                          Sample Paper – Accountancy (2020-21) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Instructions: 
1. This question paper comprises two Parts – A and B. There are 32 questions in the 
question paper. All questions are compulsory. 
2. Part A is compulsory for all candidates. 
3. Part B has two options i.e. (1) Analysis of Financial Statements and (2) 
Computerized Accounting. You have to attempt only one of the given options. 
4. Question nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 
1 mark each. 
5. Question nos. 14 and 30 are short answer type–I questions carrying 3 marks each. 
6. Question nos. 15 to 18 and 31 are short answer type–II questions carrying 4 marks 
each. 
7. Question nos. 19, 20 and 32 are long answer type–I questions carrying 6 marks each. 
8. Question nos. 21 and 22 are long answer type–II questions carrying 8 marks each. 
9. There is no overall choice. However, an internal choice has been provided in 2 
questions of three marks, 2 questions of four marks and 2 questions of eight 
marks.  
 
 
 
Page 2


                                          Sample Paper – Accountancy (2020-21) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Instructions: 
1. This question paper comprises two Parts – A and B. There are 32 questions in the 
question paper. All questions are compulsory. 
2. Part A is compulsory for all candidates. 
3. Part B has two options i.e. (1) Analysis of Financial Statements and (2) 
Computerized Accounting. You have to attempt only one of the given options. 
4. Question nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 
1 mark each. 
5. Question nos. 14 and 30 are short answer type–I questions carrying 3 marks each. 
6. Question nos. 15 to 18 and 31 are short answer type–II questions carrying 4 marks 
each. 
7. Question nos. 19, 20 and 32 are long answer type–I questions carrying 6 marks each. 
8. Question nos. 21 and 22 are long answer type–II questions carrying 8 marks each. 
9. There is no overall choice. However, an internal choice has been provided in 2 
questions of three marks, 2 questions of four marks and 2 questions of eight 
marks.  
 
 
 
                                          Sample Paper – Accountancy (2020-21) 
 Part- A 
(Accounting for Not for Profit organizations, Partnership firms and Companies) 
 
1 Which of the following items is not dealt through Profit and Loss Appropriation Account? 
a. Interest on Partner’s Loan 
b. Partner’s Salary 
c. Interest on Partner’s Capital 
d. Partner's Commission 
 
  
1 
 
2 For which of the following situations, the old profit sharing ratio of partners is used at the time of admission of a 
new partner? 
a. When new partner brings only a part of his share of goodwill. 
b. When new partner is not able to bring his share of goodwill. 
c. When, at the time of admission, goodwill already appears in the balance sheet. 
d. When new partner brings his share of goodwill in cash. 
 
 
1 
 
3 Reserve Capital is not a part of:                                                                                                                                                                       
(a) Authorized Capital           (b) Subscribed capital        (c) Unsubscribed capital        (d) Issued Share Capital 
 
 
1 
 
4 Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019-
20, then expenditure for the year 2019-20 is:                                                                                                                                                                        
(A) ` 11,700                      (B) ` 4,300                  (C) ` 20,300                    (D) None of these 
 
 
1 
 
5 At the time of dissolution of partnership firm, journal entry for the settlement of loan advanced by the firm to  
a partner would be: 
a Bank A/c                                                     Dr.   
            To Loan to Partner A/c   
b Loan to partner A/c                                  Dr.   
            To Bank A/c   
c Realization A/c                                          Dr.   
           To Loan to Partner A/c                        
d None of these   
 
 
 
 
1 
 
6 A company forfeited 4,000 shares of `10 each on which application money of `3 has been paid. Out of these 2,000 
shares were reissued as fully paid up and `4,000 has been transferred to capital reserve. Calculate the rate at 
which these shares were reissued. 
a. `10  Per share 
b. ` 9   Per share 
c. `11  Per share 
d.  `8   Per share 
 
1 
 
Page 3


                                          Sample Paper – Accountancy (2020-21) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Instructions: 
1. This question paper comprises two Parts – A and B. There are 32 questions in the 
question paper. All questions are compulsory. 
2. Part A is compulsory for all candidates. 
3. Part B has two options i.e. (1) Analysis of Financial Statements and (2) 
Computerized Accounting. You have to attempt only one of the given options. 
4. Question nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 
1 mark each. 
5. Question nos. 14 and 30 are short answer type–I questions carrying 3 marks each. 
6. Question nos. 15 to 18 and 31 are short answer type–II questions carrying 4 marks 
each. 
7. Question nos. 19, 20 and 32 are long answer type–I questions carrying 6 marks each. 
8. Question nos. 21 and 22 are long answer type–II questions carrying 8 marks each. 
9. There is no overall choice. However, an internal choice has been provided in 2 
questions of three marks, 2 questions of four marks and 2 questions of eight 
marks.  
 
 
 
                                          Sample Paper – Accountancy (2020-21) 
 Part- A 
(Accounting for Not for Profit organizations, Partnership firms and Companies) 
 
1 Which of the following items is not dealt through Profit and Loss Appropriation Account? 
a. Interest on Partner’s Loan 
b. Partner’s Salary 
c. Interest on Partner’s Capital 
d. Partner's Commission 
 
  
1 
 
2 For which of the following situations, the old profit sharing ratio of partners is used at the time of admission of a 
new partner? 
a. When new partner brings only a part of his share of goodwill. 
b. When new partner is not able to bring his share of goodwill. 
c. When, at the time of admission, goodwill already appears in the balance sheet. 
d. When new partner brings his share of goodwill in cash. 
 
 
1 
 
3 Reserve Capital is not a part of:                                                                                                                                                                       
(a) Authorized Capital           (b) Subscribed capital        (c) Unsubscribed capital        (d) Issued Share Capital 
 
 
1 
 
4 Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019-
20, then expenditure for the year 2019-20 is:                                                                                                                                                                        
(A) ` 11,700                      (B) ` 4,300                  (C) ` 20,300                    (D) None of these 
 
 
1 
 
5 At the time of dissolution of partnership firm, journal entry for the settlement of loan advanced by the firm to  
a partner would be: 
a Bank A/c                                                     Dr.   
            To Loan to Partner A/c   
b Loan to partner A/c                                  Dr.   
            To Bank A/c   
c Realization A/c                                          Dr.   
           To Loan to Partner A/c                        
d None of these   
 
 
 
 
1 
 
6 A company forfeited 4,000 shares of `10 each on which application money of `3 has been paid. Out of these 2,000 
shares were reissued as fully paid up and `4,000 has been transferred to capital reserve. Calculate the rate at 
which these shares were reissued. 
a. `10  Per share 
b. ` 9   Per share 
c. `11  Per share 
d.  `8   Per share 
 
1 
 
                                          Sample Paper – Accountancy (2020-21) 
 
7 On the basis of the following data, how much final payment will be made to a partner on firm’s dissolution? Credit 
balance of capital account of the partner was `50,000. Share of loss on realization amounted to `10,000. Firm’s 
liability taken over by him was for `8,000. 
a. `32,000 
b.  `48,000 
c.  `40,000 
d.  `52,000 
 
 
1 
8 Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1. 
Balance Sheet (Extract) 
Liabilities ` Assets ` 
  Machinery 40,000 
If value of machinery in the balance sheet is undervalued by 20%, then at what value will machinery be shown in 
new balance sheet: 
(a)   ` 44,000             (b) `48,000          (c)  `32,000 (d)   `50,000 
 
 
1 
 
9 Rex, Tex and Flex are partners in a firm in the ratio of 5:3:2. As per their partnership agreement, the share of 
deceased partner is to be calculated on the basis of profits and turnover of previous accounting year. 
Tex expired on 31
st
 December 2019. Turnover till the date of death was `18,00,000. 
Their profits and turnover for the year 2018-19 amounted to `4,00,000 and `20,00,000 respectively. 
 
An amount of `____________will be given to his executors as his share of profits till the date of death. 
 
 
1 
 
10 Retirement or death of a partner will create a situation for the continuing partners, which is known as: 
A. Dissolution of  Partnership 
B. Dissolution of partnership firm 
C. Winding up of business 
D. None of the above 
 
 
1 
 
11 A, B and C are partners. C expired on 18
th
 December 2019 and as per agreement surviving partners A and B 
directed the accountant to prepare financial statements as on 18
th
 December 2019 and accordingly the share of 
profits of C (deceased partner) was calculated as `12,00,000. Which account will be debited to transfer C’s share 
of profits: 
a. Profit and Loss Suspense Account. 
b. Profit and loss Appropriation Account. 
c. Profit and loss Account. 
d. None of the above. 
 
 
1 
 
12 E, F and G are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, G is to get a 
minimum amount of `80,000 as his share of profits every year and any deficiency on this account is to be 
personally borne by E. The net profit for the year ended 31st March, 2020 amounted to `3,12 ,000. Calculate the 
amount of deficiency to be borne by E? 
a. `1,000 
b. `4,000 
c. `8,000 
1 
 
Page 4


                                          Sample Paper – Accountancy (2020-21) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Instructions: 
1. This question paper comprises two Parts – A and B. There are 32 questions in the 
question paper. All questions are compulsory. 
2. Part A is compulsory for all candidates. 
3. Part B has two options i.e. (1) Analysis of Financial Statements and (2) 
Computerized Accounting. You have to attempt only one of the given options. 
4. Question nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 
1 mark each. 
5. Question nos. 14 and 30 are short answer type–I questions carrying 3 marks each. 
6. Question nos. 15 to 18 and 31 are short answer type–II questions carrying 4 marks 
each. 
7. Question nos. 19, 20 and 32 are long answer type–I questions carrying 6 marks each. 
8. Question nos. 21 and 22 are long answer type–II questions carrying 8 marks each. 
9. There is no overall choice. However, an internal choice has been provided in 2 
questions of three marks, 2 questions of four marks and 2 questions of eight 
marks.  
 
 
 
                                          Sample Paper – Accountancy (2020-21) 
 Part- A 
(Accounting for Not for Profit organizations, Partnership firms and Companies) 
 
1 Which of the following items is not dealt through Profit and Loss Appropriation Account? 
a. Interest on Partner’s Loan 
b. Partner’s Salary 
c. Interest on Partner’s Capital 
d. Partner's Commission 
 
  
1 
 
2 For which of the following situations, the old profit sharing ratio of partners is used at the time of admission of a 
new partner? 
a. When new partner brings only a part of his share of goodwill. 
b. When new partner is not able to bring his share of goodwill. 
c. When, at the time of admission, goodwill already appears in the balance sheet. 
d. When new partner brings his share of goodwill in cash. 
 
 
1 
 
3 Reserve Capital is not a part of:                                                                                                                                                                       
(a) Authorized Capital           (b) Subscribed capital        (c) Unsubscribed capital        (d) Issued Share Capital 
 
 
1 
 
4 Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019-
20, then expenditure for the year 2019-20 is:                                                                                                                                                                        
(A) ` 11,700                      (B) ` 4,300                  (C) ` 20,300                    (D) None of these 
 
 
1 
 
5 At the time of dissolution of partnership firm, journal entry for the settlement of loan advanced by the firm to  
a partner would be: 
a Bank A/c                                                     Dr.   
            To Loan to Partner A/c   
b Loan to partner A/c                                  Dr.   
            To Bank A/c   
c Realization A/c                                          Dr.   
           To Loan to Partner A/c                        
d None of these   
 
 
 
 
1 
 
6 A company forfeited 4,000 shares of `10 each on which application money of `3 has been paid. Out of these 2,000 
shares were reissued as fully paid up and `4,000 has been transferred to capital reserve. Calculate the rate at 
which these shares were reissued. 
a. `10  Per share 
b. ` 9   Per share 
c. `11  Per share 
d.  `8   Per share 
 
1 
 
                                          Sample Paper – Accountancy (2020-21) 
 
7 On the basis of the following data, how much final payment will be made to a partner on firm’s dissolution? Credit 
balance of capital account of the partner was `50,000. Share of loss on realization amounted to `10,000. Firm’s 
liability taken over by him was for `8,000. 
a. `32,000 
b.  `48,000 
c.  `40,000 
d.  `52,000 
 
 
1 
8 Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1. 
Balance Sheet (Extract) 
Liabilities ` Assets ` 
  Machinery 40,000 
If value of machinery in the balance sheet is undervalued by 20%, then at what value will machinery be shown in 
new balance sheet: 
(a)   ` 44,000             (b) `48,000          (c)  `32,000 (d)   `50,000 
 
 
1 
 
9 Rex, Tex and Flex are partners in a firm in the ratio of 5:3:2. As per their partnership agreement, the share of 
deceased partner is to be calculated on the basis of profits and turnover of previous accounting year. 
Tex expired on 31
st
 December 2019. Turnover till the date of death was `18,00,000. 
Their profits and turnover for the year 2018-19 amounted to `4,00,000 and `20,00,000 respectively. 
 
An amount of `____________will be given to his executors as his share of profits till the date of death. 
 
 
1 
 
10 Retirement or death of a partner will create a situation for the continuing partners, which is known as: 
A. Dissolution of  Partnership 
B. Dissolution of partnership firm 
C. Winding up of business 
D. None of the above 
 
 
1 
 
11 A, B and C are partners. C expired on 18
th
 December 2019 and as per agreement surviving partners A and B 
directed the accountant to prepare financial statements as on 18
th
 December 2019 and accordingly the share of 
profits of C (deceased partner) was calculated as `12,00,000. Which account will be debited to transfer C’s share 
of profits: 
a. Profit and Loss Suspense Account. 
b. Profit and loss Appropriation Account. 
c. Profit and loss Account. 
d. None of the above. 
 
 
1 
 
12 E, F and G are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, G is to get a 
minimum amount of `80,000 as his share of profits every year and any deficiency on this account is to be 
personally borne by E. The net profit for the year ended 31st March, 2020 amounted to `3,12 ,000. Calculate the 
amount of deficiency to be borne by E? 
a. `1,000 
b. `4,000 
c. `8,000 
1 
 
                                          Sample Paper – Accountancy (2020-21) 
d. `2,000 
 
 
13 Pick the odd one out: 
a. Rent to partner. 
b. Manager’s Commission. 
c. Interest on Partner’s Loan. 
d. Interest on Partner’s capital. 
 
 
1 
 
14 From the following information, calculate the amount to be charged to Income and Expenditure Account for 
'Sports material consumed' for the year 2019-20. 
 
Particulars Amount (`) 
Stock of Sports material (01-04-2019) 60000 
Amount paid to creditors (during 2019-20) 3,00,000 
Creditors for Sports Materials (01-04-2019) 1,00,000 
Creditors for Sports Materials (31-03-2020) 80000 
Sports Material sold During the year (Book Value Rs.35,000) 15000 
Cash Purchases of Sports Material (During the Year 2019-20) 1,30,000 
There was zero stock at the end of financial year 2019-20. 
 
Or 
Calculate the amount of Subscription to be credited to Income and Expenditure account for the year 2019-20. 
Particulars Amount (`) 
Amount received during the year ( including ` 20,000 for 2018-19 , `30,000 for 
2020-21 and `10,000 for 2021-22) 
7,80,000 
Subscription received in advance as on 01-04-2019 (including `15,000 for 
2020-21) 
35000 
Subscription in arrears as on 01-04-2019 40000 
Subscription in arrears as on 31-03-2020 50000 
 
Out of subscription in arrears on 01-04-2019, `15,000 are no longer recoverable. 
 
3 
15 Rohit, Raman and Raina are partners in a firm. Their capital accounts on 1st April, 2019, stood at `2,00,000, 
`1,20,000 and `1,60,000 respectively. Each partner withdrew `15,000 during the financial year 2019-20. 
As per the provisions of their partnership deed: 
(a) Interest on capital was to be allowed @ 5% per annum. 
(b)  Interest on drawings was to be charged @ 4% per annum. 
(c)  Profits and losses were to be shared in the ratio 5:4:1. 
The net profit of `72,000 for the year ended 31st March 2020, was divided equally amongst the partners without 
providing for the terms of the deed. 
You are required to pass a single adjustment entry to rectify the error (Show workings clearly). 
 
Or 
 
4 
Page 5


                                          Sample Paper – Accountancy (2020-21) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General Instructions: 
1. This question paper comprises two Parts – A and B. There are 32 questions in the 
question paper. All questions are compulsory. 
2. Part A is compulsory for all candidates. 
3. Part B has two options i.e. (1) Analysis of Financial Statements and (2) 
Computerized Accounting. You have to attempt only one of the given options. 
4. Question nos. 1 to 13 and 23 to 29 are very short answer type questions carrying 
1 mark each. 
5. Question nos. 14 and 30 are short answer type–I questions carrying 3 marks each. 
6. Question nos. 15 to 18 and 31 are short answer type–II questions carrying 4 marks 
each. 
7. Question nos. 19, 20 and 32 are long answer type–I questions carrying 6 marks each. 
8. Question nos. 21 and 22 are long answer type–II questions carrying 8 marks each. 
9. There is no overall choice. However, an internal choice has been provided in 2 
questions of three marks, 2 questions of four marks and 2 questions of eight 
marks.  
 
 
 
                                          Sample Paper – Accountancy (2020-21) 
 Part- A 
(Accounting for Not for Profit organizations, Partnership firms and Companies) 
 
1 Which of the following items is not dealt through Profit and Loss Appropriation Account? 
a. Interest on Partner’s Loan 
b. Partner’s Salary 
c. Interest on Partner’s Capital 
d. Partner's Commission 
 
  
1 
 
2 For which of the following situations, the old profit sharing ratio of partners is used at the time of admission of a 
new partner? 
a. When new partner brings only a part of his share of goodwill. 
b. When new partner is not able to bring his share of goodwill. 
c. When, at the time of admission, goodwill already appears in the balance sheet. 
d. When new partner brings his share of goodwill in cash. 
 
 
1 
 
3 Reserve Capital is not a part of:                                                                                                                                                                       
(a) Authorized Capital           (b) Subscribed capital        (c) Unsubscribed capital        (d) Issued Share Capital 
 
 
1 
 
4 Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019-
20, then expenditure for the year 2019-20 is:                                                                                                                                                                        
(A) ` 11,700                      (B) ` 4,300                  (C) ` 20,300                    (D) None of these 
 
 
1 
 
5 At the time of dissolution of partnership firm, journal entry for the settlement of loan advanced by the firm to  
a partner would be: 
a Bank A/c                                                     Dr.   
            To Loan to Partner A/c   
b Loan to partner A/c                                  Dr.   
            To Bank A/c   
c Realization A/c                                          Dr.   
           To Loan to Partner A/c                        
d None of these   
 
 
 
 
1 
 
6 A company forfeited 4,000 shares of `10 each on which application money of `3 has been paid. Out of these 2,000 
shares were reissued as fully paid up and `4,000 has been transferred to capital reserve. Calculate the rate at 
which these shares were reissued. 
a. `10  Per share 
b. ` 9   Per share 
c. `11  Per share 
d.  `8   Per share 
 
1 
 
                                          Sample Paper – Accountancy (2020-21) 
 
7 On the basis of the following data, how much final payment will be made to a partner on firm’s dissolution? Credit 
balance of capital account of the partner was `50,000. Share of loss on realization amounted to `10,000. Firm’s 
liability taken over by him was for `8,000. 
a. `32,000 
b.  `48,000 
c.  `40,000 
d.  `52,000 
 
 
1 
8 Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1. 
Balance Sheet (Extract) 
Liabilities ` Assets ` 
  Machinery 40,000 
If value of machinery in the balance sheet is undervalued by 20%, then at what value will machinery be shown in 
new balance sheet: 
(a)   ` 44,000             (b) `48,000          (c)  `32,000 (d)   `50,000 
 
 
1 
 
9 Rex, Tex and Flex are partners in a firm in the ratio of 5:3:2. As per their partnership agreement, the share of 
deceased partner is to be calculated on the basis of profits and turnover of previous accounting year. 
Tex expired on 31
st
 December 2019. Turnover till the date of death was `18,00,000. 
Their profits and turnover for the year 2018-19 amounted to `4,00,000 and `20,00,000 respectively. 
 
An amount of `____________will be given to his executors as his share of profits till the date of death. 
 
 
1 
 
10 Retirement or death of a partner will create a situation for the continuing partners, which is known as: 
A. Dissolution of  Partnership 
B. Dissolution of partnership firm 
C. Winding up of business 
D. None of the above 
 
 
1 
 
11 A, B and C are partners. C expired on 18
th
 December 2019 and as per agreement surviving partners A and B 
directed the accountant to prepare financial statements as on 18
th
 December 2019 and accordingly the share of 
profits of C (deceased partner) was calculated as `12,00,000. Which account will be debited to transfer C’s share 
of profits: 
a. Profit and Loss Suspense Account. 
b. Profit and loss Appropriation Account. 
c. Profit and loss Account. 
d. None of the above. 
 
 
1 
 
12 E, F and G are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, G is to get a 
minimum amount of `80,000 as his share of profits every year and any deficiency on this account is to be 
personally borne by E. The net profit for the year ended 31st March, 2020 amounted to `3,12 ,000. Calculate the 
amount of deficiency to be borne by E? 
a. `1,000 
b. `4,000 
c. `8,000 
1 
 
                                          Sample Paper – Accountancy (2020-21) 
d. `2,000 
 
 
13 Pick the odd one out: 
a. Rent to partner. 
b. Manager’s Commission. 
c. Interest on Partner’s Loan. 
d. Interest on Partner’s capital. 
 
 
1 
 
14 From the following information, calculate the amount to be charged to Income and Expenditure Account for 
'Sports material consumed' for the year 2019-20. 
 
Particulars Amount (`) 
Stock of Sports material (01-04-2019) 60000 
Amount paid to creditors (during 2019-20) 3,00,000 
Creditors for Sports Materials (01-04-2019) 1,00,000 
Creditors for Sports Materials (31-03-2020) 80000 
Sports Material sold During the year (Book Value Rs.35,000) 15000 
Cash Purchases of Sports Material (During the Year 2019-20) 1,30,000 
There was zero stock at the end of financial year 2019-20. 
 
Or 
Calculate the amount of Subscription to be credited to Income and Expenditure account for the year 2019-20. 
Particulars Amount (`) 
Amount received during the year ( including ` 20,000 for 2018-19 , `30,000 for 
2020-21 and `10,000 for 2021-22) 
7,80,000 
Subscription received in advance as on 01-04-2019 (including `15,000 for 
2020-21) 
35000 
Subscription in arrears as on 01-04-2019 40000 
Subscription in arrears as on 31-03-2020 50000 
 
Out of subscription in arrears on 01-04-2019, `15,000 are no longer recoverable. 
 
3 
15 Rohit, Raman and Raina are partners in a firm. Their capital accounts on 1st April, 2019, stood at `2,00,000, 
`1,20,000 and `1,60,000 respectively. Each partner withdrew `15,000 during the financial year 2019-20. 
As per the provisions of their partnership deed: 
(a) Interest on capital was to be allowed @ 5% per annum. 
(b)  Interest on drawings was to be charged @ 4% per annum. 
(c)  Profits and losses were to be shared in the ratio 5:4:1. 
The net profit of `72,000 for the year ended 31st March 2020, was divided equally amongst the partners without 
providing for the terms of the deed. 
You are required to pass a single adjustment entry to rectify the error (Show workings clearly). 
 
Or 
 
4 
                                          Sample Paper – Accountancy (2020-21) 
A&B are partners in the ratio of 3:2. The firm maintains fluctuating capital accounts and the balance of the same 
as on 31-03-2020 amounted to `1,60,000 and `1,40,000 for A and B respectively. Their drawings during the year 
were `30,000 each.  
As per partnership deed interest on capital @10% p.a. on opening capitals had been provided to them. Calculate 
opening capitals of partners given that their profits were `90,000. Show your workings clearly. 
 
16 From the following information complete Journal entries. 
Date Particulars 
L.F. 
Debit (`) Credit (`) 
 
Share Capital A/c                                         Dr. 
Securities Premium Reserve A/c               Dr. 
                To Share Forfeiture A/c 
                To Calls in Arrears A/c 
(Being___?___shares forfeited for non-payment of `_?___ 
including premium of `2 per share) 
 
? 
1000 
 
 
? 
3,500 
 
Bank A/c                                                       Dr. 
Share Forfeiture A/c                                  Dr. 
                To Share Capital A/c 
(Being_?___shares reissued at `9 per share as fully paid) 
 
 
? 
? 
 
 
 
? 
 
Share forfeiture A/c                                   Dr. 
                To Capital Reserve A/c 
(Being forfeiture money transferred to capital reserve) 
 
600  
600 
 
 
 
Dr.                                                       Share forfeiture A/c                                                          Cr. 
Date Particulars Amount Date Particulars Amount 
 
To Share Capital A/c 
To Capital reserve A/c 
To Balance c/d 
? 
600 
600 
 
By Share Capital A/c 
1500 
  1500  
 
1500 
(Face value of share is `10 each) 
 
4 
17 Pass necessary journal entries in the following cases on the dissolution of a partnership firm of partners X, Y, A 
and B: 
(i) Realization expenses of ` 5,000 were to borne by X, a partner. However, it was paid by Y. 
(ii) Investments costing ` 25,000 (comprising 1000 shares), had been written off from the books completely.                              
These shares are valued at ` 20 each and were divided amongst the partners. 
(iii) Y’s loan of `50,000 settled at ` 48,000. 
(iv) Machinery (book value ` 6,00,000) was given to creditor at a discount of 20%. 
 
 
4 
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Class 12 Accountancy Official Sample Question Paper (2020-21) | Accountancy Class 12 - Commerce

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