Class 12 Accountancy: CBSE Sample Question Papers (2025-26)

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Page 1 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
ACCOUNTANCY (055) 
SAMPLE QUESTION PAPER 
Class XII (2025-26) 
TIME 3 HOURS                                                                                                                              MAX. MARKS 80 
GENERAL INSTRUCTIONS: 
1. This question paper contains 34 questions. All questions are compulsory. 
2. This question paper is divided into two parts, Part A and B. 
3. Part - A is compulsory for all candidates.  
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. 
Students must attempt only one of the given options.  
5. Question 1 to 16 and   27 to 30 carries 1 mark each. 
6. Questions 17 to 20, 31and 32 carries 3 marks each. 
7. Questions from 21 ,22 and 33 carries 4 marks each 
8. Questions from 23 to 26 and 34 carries 6 marks each  
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one 
mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.  
 
Part - A 
S.N
o. 
 Marks 
 Part A :- Accounting for Partnership Firms and Companies   
1.  A partner’s capital account was credited with ?80,000 during the year. Which of the following 
can be the possibility for such a credit in his capital account? 
A. Opening Balance B. Drawings during the year 
C. Loss during the year D. Capital introduced 
 
OR 
 
Assertion (A) :- Fluctuating Capital Account can show debit balance. 
Reason (R) :- Losses and Drawings can be more than Capital Balance. 
A. Both A and R are correct and R is the correct explanation of A 
B. Both A and R are correct but R is not the correct explanation of A 
C. A is correct but R is incorrect 
D. Both A and R are incorrect. 
 
1 
2.  On 1
st
 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. 
C was guaranteed that his share of profits will not be less than ? 60,000 p.a.  Deficiency if any 
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ? 
1,25,000. Deficiency will be borne by A and B will be: 
A. A ? 30,000 and B ? 30,000 B. A ? 43,750 and B ? 26,250 
C. A ? 42,500 and B ? 42,500 D. A ? 35,000 and B ? 35,000 
 
1 
3.  Pali Limited offered 2,00,000 shares of ? 10 each at a premium of ? 2 per share. Applications 
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ?3 on 
Application (including ?1 premium), ? 6 on Allotment (including ?1 premium) and balance on 
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were 
1 
 
 
 
Page 2


Page 1 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
ACCOUNTANCY (055) 
SAMPLE QUESTION PAPER 
Class XII (2025-26) 
TIME 3 HOURS                                                                                                                              MAX. MARKS 80 
GENERAL INSTRUCTIONS: 
1. This question paper contains 34 questions. All questions are compulsory. 
2. This question paper is divided into two parts, Part A and B. 
3. Part - A is compulsory for all candidates.  
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. 
Students must attempt only one of the given options.  
5. Question 1 to 16 and   27 to 30 carries 1 mark each. 
6. Questions 17 to 20, 31and 32 carries 3 marks each. 
7. Questions from 21 ,22 and 33 carries 4 marks each 
8. Questions from 23 to 26 and 34 carries 6 marks each  
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one 
mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.  
 
Part - A 
S.N
o. 
 Marks 
 Part A :- Accounting for Partnership Firms and Companies   
1.  A partner’s capital account was credited with ?80,000 during the year. Which of the following 
can be the possibility for such a credit in his capital account? 
A. Opening Balance B. Drawings during the year 
C. Loss during the year D. Capital introduced 
 
OR 
 
Assertion (A) :- Fluctuating Capital Account can show debit balance. 
Reason (R) :- Losses and Drawings can be more than Capital Balance. 
A. Both A and R are correct and R is the correct explanation of A 
B. Both A and R are correct but R is not the correct explanation of A 
C. A is correct but R is incorrect 
D. Both A and R are incorrect. 
 
1 
2.  On 1
st
 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. 
C was guaranteed that his share of profits will not be less than ? 60,000 p.a.  Deficiency if any 
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ? 
1,25,000. Deficiency will be borne by A and B will be: 
A. A ? 30,000 and B ? 30,000 B. A ? 43,750 and B ? 26,250 
C. A ? 42,500 and B ? 42,500 D. A ? 35,000 and B ? 35,000 
 
1 
3.  Pali Limited offered 2,00,000 shares of ? 10 each at a premium of ? 2 per share. Applications 
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ?3 on 
Application (including ?1 premium), ? 6 on Allotment (including ?1 premium) and balance on 
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were 
1 
 
 
 
Page 2 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
immediately forfeited. Out of the forfeited shares, 4,000 shares were re-issued @ ? 11 per 
share as fully paid up. The amount of Capital Reserve will be: 
A. ? 16,000 B. ? 12,000 C. ? 8,000 D. ? 18,000 
OR 
Prafful Limited forfeited 15,000 shares of ? 20 each on which ? 8 (including ? 2 premium) was 
paid. Out of these 13,000 shares were re-issued @ ? 19 per share as fully paid up. Determine 
the amount of Share Forfeited balance.   
A. ? 90,000 B. ? 91,000 C. ? 12,000 D. ? 16,000 
 
 
4.  Pista Ltd. took over running business of Vista Ltd. comprising of Assets of ? 45,00,000 and 
Liabilities of ? 7,50,000 and in consideration issued them 30,000, 9% debentures of ? 100 each 
at 5% discount and a cheque of ? 10,00,000. Determine the amount of Goodwill or Capital 
Reserve. 
A. Goodwill ? 9,00,000 B. Capital Reserve ? 9,00,000 
C. Goodwill ? 1,00,000       D. Capital Reserve ? 1,00,000 
OR 
Dawn Ltd. purchased Equipment and paid ? 2,20,000 by cheque and issued 16,000 equity 
shares of ? 10 each at 25% premium. The purchase consideration will be: 
A. ? 3,40,000  B. ? 4,20,000  C. ? 3,80,000  D. ? 2,00,000  
 
1 
5.  Bala and Lala were partners in a firm with Capitals of ? 24,00,000 and 16,00,000. They admitted 
Mala as a new partner for 1/3 share for which Mala brings ? 20,00,000 as capital. There was 
Investment and Investment Fluctuation Reserve appearing in the books of ? 2,50,000 and ? 
50,000 respectively. Bala took over 40% of the Investments at ? 80,000 and remaining 
Investments were valued at ? 1,10,000. By what amount Revaluation account will be affected 
for the above information?   
A. Debited ? 60,000 B. Credited with ? 60,000 
C. Debited ? 10,000 D. Credited ? 10,000 
 
1 
6.  Jai  and Veeru were in a partnership sharing Profit &Loss in the ratio 5:3. Their Capitals were ? 
10,00,000 and ? 8,00,000 respectively. The firm was also having reserves of ? 7,00,000. Normal 
rate of return was 10%. Firm made average profits of ? 2,30,000 for the year ended March 31, 
2025 (after adjustment of loss of machinery of book value of ?2,00,000 by fire against which 
insurance claim of ?1,50,000 was admitted). Value of goodwill as per Capitalisation of super 
profits will be: 
A. ? 10,00,000 B. ? 3,00,000 C. ? 18,00,000 D. Nil. 
 
1 
7.  On 1
st
 August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ?5,00,000 
each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025, 
Tyke withdrew ? 80,000. What amount of Interest on drawings will be charged from Tyke?  
A. ? 4,800 B. ? 1,600 C. ? 3,200 D. ? 2,400 
 
1 
8.  A, B and C were partners sharing Profits &Losses in the ratio 7:2:1. B died. A took over 1/20 
from his share and remaining share was taken over by C. Determine the new Profit sharing 
Ratio. 
A. 4 : 1 B. 7 : 1 C. 71 : 29 D. 3 : 1 
OR 
X, Y and Z were partners sharing Profit & Losses in the ratio 5:3:2. Y retired, and he gifted half 
of his share to X and remaining half was taken over equally by X and Z. Determine the new 
Profit-sharing Ratio. 
A. 29 : 11 B. 13 : 7 C. 1 : 1 D. 5 : 2 
 
1 
Page 3


Page 1 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
ACCOUNTANCY (055) 
SAMPLE QUESTION PAPER 
Class XII (2025-26) 
TIME 3 HOURS                                                                                                                              MAX. MARKS 80 
GENERAL INSTRUCTIONS: 
1. This question paper contains 34 questions. All questions are compulsory. 
2. This question paper is divided into two parts, Part A and B. 
3. Part - A is compulsory for all candidates.  
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. 
Students must attempt only one of the given options.  
5. Question 1 to 16 and   27 to 30 carries 1 mark each. 
6. Questions 17 to 20, 31and 32 carries 3 marks each. 
7. Questions from 21 ,22 and 33 carries 4 marks each 
8. Questions from 23 to 26 and 34 carries 6 marks each  
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one 
mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.  
 
Part - A 
S.N
o. 
 Marks 
 Part A :- Accounting for Partnership Firms and Companies   
1.  A partner’s capital account was credited with ?80,000 during the year. Which of the following 
can be the possibility for such a credit in his capital account? 
A. Opening Balance B. Drawings during the year 
C. Loss during the year D. Capital introduced 
 
OR 
 
Assertion (A) :- Fluctuating Capital Account can show debit balance. 
Reason (R) :- Losses and Drawings can be more than Capital Balance. 
A. Both A and R are correct and R is the correct explanation of A 
B. Both A and R are correct but R is not the correct explanation of A 
C. A is correct but R is incorrect 
D. Both A and R are incorrect. 
 
1 
2.  On 1
st
 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. 
C was guaranteed that his share of profits will not be less than ? 60,000 p.a.  Deficiency if any 
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ? 
1,25,000. Deficiency will be borne by A and B will be: 
A. A ? 30,000 and B ? 30,000 B. A ? 43,750 and B ? 26,250 
C. A ? 42,500 and B ? 42,500 D. A ? 35,000 and B ? 35,000 
 
1 
3.  Pali Limited offered 2,00,000 shares of ? 10 each at a premium of ? 2 per share. Applications 
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ?3 on 
Application (including ?1 premium), ? 6 on Allotment (including ?1 premium) and balance on 
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were 
1 
 
 
 
Page 2 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
immediately forfeited. Out of the forfeited shares, 4,000 shares were re-issued @ ? 11 per 
share as fully paid up. The amount of Capital Reserve will be: 
A. ? 16,000 B. ? 12,000 C. ? 8,000 D. ? 18,000 
OR 
Prafful Limited forfeited 15,000 shares of ? 20 each on which ? 8 (including ? 2 premium) was 
paid. Out of these 13,000 shares were re-issued @ ? 19 per share as fully paid up. Determine 
the amount of Share Forfeited balance.   
A. ? 90,000 B. ? 91,000 C. ? 12,000 D. ? 16,000 
 
 
4.  Pista Ltd. took over running business of Vista Ltd. comprising of Assets of ? 45,00,000 and 
Liabilities of ? 7,50,000 and in consideration issued them 30,000, 9% debentures of ? 100 each 
at 5% discount and a cheque of ? 10,00,000. Determine the amount of Goodwill or Capital 
Reserve. 
A. Goodwill ? 9,00,000 B. Capital Reserve ? 9,00,000 
C. Goodwill ? 1,00,000       D. Capital Reserve ? 1,00,000 
OR 
Dawn Ltd. purchased Equipment and paid ? 2,20,000 by cheque and issued 16,000 equity 
shares of ? 10 each at 25% premium. The purchase consideration will be: 
A. ? 3,40,000  B. ? 4,20,000  C. ? 3,80,000  D. ? 2,00,000  
 
1 
5.  Bala and Lala were partners in a firm with Capitals of ? 24,00,000 and 16,00,000. They admitted 
Mala as a new partner for 1/3 share for which Mala brings ? 20,00,000 as capital. There was 
Investment and Investment Fluctuation Reserve appearing in the books of ? 2,50,000 and ? 
50,000 respectively. Bala took over 40% of the Investments at ? 80,000 and remaining 
Investments were valued at ? 1,10,000. By what amount Revaluation account will be affected 
for the above information?   
A. Debited ? 60,000 B. Credited with ? 60,000 
C. Debited ? 10,000 D. Credited ? 10,000 
 
1 
6.  Jai  and Veeru were in a partnership sharing Profit &Loss in the ratio 5:3. Their Capitals were ? 
10,00,000 and ? 8,00,000 respectively. The firm was also having reserves of ? 7,00,000. Normal 
rate of return was 10%. Firm made average profits of ? 2,30,000 for the year ended March 31, 
2025 (after adjustment of loss of machinery of book value of ?2,00,000 by fire against which 
insurance claim of ?1,50,000 was admitted). Value of goodwill as per Capitalisation of super 
profits will be: 
A. ? 10,00,000 B. ? 3,00,000 C. ? 18,00,000 D. Nil. 
 
1 
7.  On 1
st
 August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ?5,00,000 
each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025, 
Tyke withdrew ? 80,000. What amount of Interest on drawings will be charged from Tyke?  
A. ? 4,800 B. ? 1,600 C. ? 3,200 D. ? 2,400 
 
1 
8.  A, B and C were partners sharing Profits &Losses in the ratio 7:2:1. B died. A took over 1/20 
from his share and remaining share was taken over by C. Determine the new Profit sharing 
Ratio. 
A. 4 : 1 B. 7 : 1 C. 71 : 29 D. 3 : 1 
OR 
X, Y and Z were partners sharing Profit & Losses in the ratio 5:3:2. Y retired, and he gifted half 
of his share to X and remaining half was taken over equally by X and Z. Determine the new 
Profit-sharing Ratio. 
A. 29 : 11 B. 13 : 7 C. 1 : 1 D. 5 : 2 
 
1 
Page 3 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
9.  X, a partner was assigned to look after the dissolution process and was allowed remuneration 
of ? 15,000. Actual realisation expenses amounted to ? 20,000, being paid by another partner 
Y. By what amount Realisation account will be debited for the above-mentioned information? 
A. ? 20,000 B. ? 35,000 C. ? 5,000 D. ? 15,000 
 
1 
10.  Arun and Barun were partners sharing Profits &Losses in the ratio 3:2. They admitted Charan 
into partnership for 20% share. Charan was to bring proportionate Capital and he brought ? 
3,50,000 (including ? 50,000 for goodwill share) in firm. If adjusted capital of Arun after 
Revaluation Gain/Loss, Accumulated Profits/Losses and Goodwill treatment was ? 8,40,000. 
What was Barun’s Capital after Revaluation Gain/Loss, Accumulated Profits/Losses and 
Goodwill treatment? 
A. ? 5,60,000 B. ? 3,60,000 C. ? 12,00,000 D. ? 6,60,000 
OR 
Raghav and Sahil were partners sharing Profit &Loss in the ratio 5:3. Their capital balances were 
? 7,20,000 and ? 2,80,000 respectively. There were balances of General Reserve of ? 5,00,000 
and Deferred Revenue Expenditure of ? 4,00,000 in the books of the firm. They admitted Ojasv 
into partnership for 20% share for which he brings ? 4,00,000 as capital. Determine the 
goodwill share of Ojasv. 
A. ? 5,00,000 B. ? 1,00,000 C. ? 1,20,000 D. ? 60,000 
 
1 
11.  Building was appearing in the books at ? 20,00,000 which was overvalued by 25%. What 
amount will be shown in the Balance Sheet of a reconstituted firm for building?  
A. ? 25,00,000 B. ? 16,00,000 C. ? 24,00,000 D. ? 15,00,000 
 
1 
 From the given hypothetical situation, answer Q 12 – 14. 
 
Floater Ltd. issued 60,000; 8% debentures of ? 100 each at 5% Discount and to be redeemed at 
10% premium at the end of 5 years. On the date of issue, balance in Securities Premium was ? 
8,00,000 and Statement of Profit Loss (Dr.) was ? 5,00,000. 
 
 
12.  Loss on Issue of Debentures is to be written off as  ______ out of Securities Premium and  
______) out of Statement of Profit and Loss. 
A. ? 4,50,000 ; ? 4,50,000 B. ? 6,00,000 ; ? 3,00,000 
C. ? 8,00,000 ; ? 1,00,000 D. ? 4,00,000 ; ? 5,00,000 
 
1 
13.  After writing off Loss on Issue of Debentures, _______ balance in Statement of Profit and Loss 
will be ________ 
A. Debit ; ? 6,00,000  B. Credit ; ? 6,00,000 
C. Debit ; ? 4,00,000 D. Credit ; ? 4,00,000 
 
1 
14.  Premium on Redemption of Debentures account will have a balance of________ to be treated 
as ______ in the first year. 
A. ? 9,00,000 ; Non-Current Liabilities  B. ? 9,00,000 ; Current Liabilities 
C. ? 6,00,000 ;  
Non-Current Liabilities 
D. ? 6,00,00 ; Current Liabilities 
 
1 
15.  Arun, Basu and Tarun were partners sharing Profit &Loss in the ratio 5:3:2. Their firm was 
dissolved on March 31, 2025. On this date following assets and liabilities were appearing in 
their books of accounts.  
Building ? 2,00,000 ; Furniture ? 80,000 ; Stock ? 70,000 ; Goodwill ? 10,000 ; Debtors ? 40,000 
; Cash ? 20,000 ; Creditors ? 50,000 ; Arun’s Loan ? 60,000 ; Tarun’s Brother Loan ? 30,000.  
Assets realised at for ? 3,40,000. Determine the amount of Realisation Gain/Loss.  
1 
Page 4


Page 1 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
ACCOUNTANCY (055) 
SAMPLE QUESTION PAPER 
Class XII (2025-26) 
TIME 3 HOURS                                                                                                                              MAX. MARKS 80 
GENERAL INSTRUCTIONS: 
1. This question paper contains 34 questions. All questions are compulsory. 
2. This question paper is divided into two parts, Part A and B. 
3. Part - A is compulsory for all candidates.  
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. 
Students must attempt only one of the given options.  
5. Question 1 to 16 and   27 to 30 carries 1 mark each. 
6. Questions 17 to 20, 31and 32 carries 3 marks each. 
7. Questions from 21 ,22 and 33 carries 4 marks each 
8. Questions from 23 to 26 and 34 carries 6 marks each  
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one 
mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.  
 
Part - A 
S.N
o. 
 Marks 
 Part A :- Accounting for Partnership Firms and Companies   
1.  A partner’s capital account was credited with ?80,000 during the year. Which of the following 
can be the possibility for such a credit in his capital account? 
A. Opening Balance B. Drawings during the year 
C. Loss during the year D. Capital introduced 
 
OR 
 
Assertion (A) :- Fluctuating Capital Account can show debit balance. 
Reason (R) :- Losses and Drawings can be more than Capital Balance. 
A. Both A and R are correct and R is the correct explanation of A 
B. Both A and R are correct but R is not the correct explanation of A 
C. A is correct but R is incorrect 
D. Both A and R are incorrect. 
 
1 
2.  On 1
st
 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. 
C was guaranteed that his share of profits will not be less than ? 60,000 p.a.  Deficiency if any 
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ? 
1,25,000. Deficiency will be borne by A and B will be: 
A. A ? 30,000 and B ? 30,000 B. A ? 43,750 and B ? 26,250 
C. A ? 42,500 and B ? 42,500 D. A ? 35,000 and B ? 35,000 
 
1 
3.  Pali Limited offered 2,00,000 shares of ? 10 each at a premium of ? 2 per share. Applications 
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ?3 on 
Application (including ?1 premium), ? 6 on Allotment (including ?1 premium) and balance on 
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were 
1 
 
 
 
Page 2 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
immediately forfeited. Out of the forfeited shares, 4,000 shares were re-issued @ ? 11 per 
share as fully paid up. The amount of Capital Reserve will be: 
A. ? 16,000 B. ? 12,000 C. ? 8,000 D. ? 18,000 
OR 
Prafful Limited forfeited 15,000 shares of ? 20 each on which ? 8 (including ? 2 premium) was 
paid. Out of these 13,000 shares were re-issued @ ? 19 per share as fully paid up. Determine 
the amount of Share Forfeited balance.   
A. ? 90,000 B. ? 91,000 C. ? 12,000 D. ? 16,000 
 
 
4.  Pista Ltd. took over running business of Vista Ltd. comprising of Assets of ? 45,00,000 and 
Liabilities of ? 7,50,000 and in consideration issued them 30,000, 9% debentures of ? 100 each 
at 5% discount and a cheque of ? 10,00,000. Determine the amount of Goodwill or Capital 
Reserve. 
A. Goodwill ? 9,00,000 B. Capital Reserve ? 9,00,000 
C. Goodwill ? 1,00,000       D. Capital Reserve ? 1,00,000 
OR 
Dawn Ltd. purchased Equipment and paid ? 2,20,000 by cheque and issued 16,000 equity 
shares of ? 10 each at 25% premium. The purchase consideration will be: 
A. ? 3,40,000  B. ? 4,20,000  C. ? 3,80,000  D. ? 2,00,000  
 
1 
5.  Bala and Lala were partners in a firm with Capitals of ? 24,00,000 and 16,00,000. They admitted 
Mala as a new partner for 1/3 share for which Mala brings ? 20,00,000 as capital. There was 
Investment and Investment Fluctuation Reserve appearing in the books of ? 2,50,000 and ? 
50,000 respectively. Bala took over 40% of the Investments at ? 80,000 and remaining 
Investments were valued at ? 1,10,000. By what amount Revaluation account will be affected 
for the above information?   
A. Debited ? 60,000 B. Credited with ? 60,000 
C. Debited ? 10,000 D. Credited ? 10,000 
 
1 
6.  Jai  and Veeru were in a partnership sharing Profit &Loss in the ratio 5:3. Their Capitals were ? 
10,00,000 and ? 8,00,000 respectively. The firm was also having reserves of ? 7,00,000. Normal 
rate of return was 10%. Firm made average profits of ? 2,30,000 for the year ended March 31, 
2025 (after adjustment of loss of machinery of book value of ?2,00,000 by fire against which 
insurance claim of ?1,50,000 was admitted). Value of goodwill as per Capitalisation of super 
profits will be: 
A. ? 10,00,000 B. ? 3,00,000 C. ? 18,00,000 D. Nil. 
 
1 
7.  On 1
st
 August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ?5,00,000 
each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025, 
Tyke withdrew ? 80,000. What amount of Interest on drawings will be charged from Tyke?  
A. ? 4,800 B. ? 1,600 C. ? 3,200 D. ? 2,400 
 
1 
8.  A, B and C were partners sharing Profits &Losses in the ratio 7:2:1. B died. A took over 1/20 
from his share and remaining share was taken over by C. Determine the new Profit sharing 
Ratio. 
A. 4 : 1 B. 7 : 1 C. 71 : 29 D. 3 : 1 
OR 
X, Y and Z were partners sharing Profit & Losses in the ratio 5:3:2. Y retired, and he gifted half 
of his share to X and remaining half was taken over equally by X and Z. Determine the new 
Profit-sharing Ratio. 
A. 29 : 11 B. 13 : 7 C. 1 : 1 D. 5 : 2 
 
1 
Page 3 of 10 
Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
9.  X, a partner was assigned to look after the dissolution process and was allowed remuneration 
of ? 15,000. Actual realisation expenses amounted to ? 20,000, being paid by another partner 
Y. By what amount Realisation account will be debited for the above-mentioned information? 
A. ? 20,000 B. ? 35,000 C. ? 5,000 D. ? 15,000 
 
1 
10.  Arun and Barun were partners sharing Profits &Losses in the ratio 3:2. They admitted Charan 
into partnership for 20% share. Charan was to bring proportionate Capital and he brought ? 
3,50,000 (including ? 50,000 for goodwill share) in firm. If adjusted capital of Arun after 
Revaluation Gain/Loss, Accumulated Profits/Losses and Goodwill treatment was ? 8,40,000. 
What was Barun’s Capital after Revaluation Gain/Loss, Accumulated Profits/Losses and 
Goodwill treatment? 
A. ? 5,60,000 B. ? 3,60,000 C. ? 12,00,000 D. ? 6,60,000 
OR 
Raghav and Sahil were partners sharing Profit &Loss in the ratio 5:3. Their capital balances were 
? 7,20,000 and ? 2,80,000 respectively. There were balances of General Reserve of ? 5,00,000 
and Deferred Revenue Expenditure of ? 4,00,000 in the books of the firm. They admitted Ojasv 
into partnership for 20% share for which he brings ? 4,00,000 as capital. Determine the 
goodwill share of Ojasv. 
A. ? 5,00,000 B. ? 1,00,000 C. ? 1,20,000 D. ? 60,000 
 
1 
11.  Building was appearing in the books at ? 20,00,000 which was overvalued by 25%. What 
amount will be shown in the Balance Sheet of a reconstituted firm for building?  
A. ? 25,00,000 B. ? 16,00,000 C. ? 24,00,000 D. ? 15,00,000 
 
1 
 From the given hypothetical situation, answer Q 12 – 14. 
 
Floater Ltd. issued 60,000; 8% debentures of ? 100 each at 5% Discount and to be redeemed at 
10% premium at the end of 5 years. On the date of issue, balance in Securities Premium was ? 
8,00,000 and Statement of Profit Loss (Dr.) was ? 5,00,000. 
 
 
12.  Loss on Issue of Debentures is to be written off as  ______ out of Securities Premium and  
______) out of Statement of Profit and Loss. 
A. ? 4,50,000 ; ? 4,50,000 B. ? 6,00,000 ; ? 3,00,000 
C. ? 8,00,000 ; ? 1,00,000 D. ? 4,00,000 ; ? 5,00,000 
 
1 
13.  After writing off Loss on Issue of Debentures, _______ balance in Statement of Profit and Loss 
will be ________ 
A. Debit ; ? 6,00,000  B. Credit ; ? 6,00,000 
C. Debit ; ? 4,00,000 D. Credit ; ? 4,00,000 
 
1 
14.  Premium on Redemption of Debentures account will have a balance of________ to be treated 
as ______ in the first year. 
A. ? 9,00,000 ; Non-Current Liabilities  B. ? 9,00,000 ; Current Liabilities 
C. ? 6,00,000 ;  
Non-Current Liabilities 
D. ? 6,00,00 ; Current Liabilities 
 
1 
15.  Arun, Basu and Tarun were partners sharing Profit &Loss in the ratio 5:3:2. Their firm was 
dissolved on March 31, 2025. On this date following assets and liabilities were appearing in 
their books of accounts.  
Building ? 2,00,000 ; Furniture ? 80,000 ; Stock ? 70,000 ; Goodwill ? 10,000 ; Debtors ? 40,000 
; Cash ? 20,000 ; Creditors ? 50,000 ; Arun’s Loan ? 60,000 ; Tarun’s Brother Loan ? 30,000.  
Assets realised at for ? 3,40,000. Determine the amount of Realisation Gain/Loss.  
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A. Realisation Loss ? 80,000 B. Realisation Gain ? 60,000 
C. Realisation Loss ? 60,000 D. No Gain or Loss on Realisation 
 
16.  John and Sourabh were partners sharing Profit &Loss equally. They decided to share future 
Profit &Loss in the ratio 3:2. Their manager Arya met with an accident in the office itself and his 
claim for compensation amounted to ?. 50,000. The firm had a Workmen Compensation 
Reserve of ?. 80,000. Which of the following statement holds true at the time of 
reconstitution?  
A. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be distributed amongst partners in old ratio. 
B. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be distributed amongst partners in new ratio. 
C. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will 
 be credited to Revaluation Account. 
D. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be carried forward in the books of the firm without any 
treatment. 
 
1 
17.  Raju, Rinku and Munni were partners sharing Profits & Losses in the ratio 3:1:1. They admitted 
Chunni into partnership for 1/5 share. It was decided that Munni will have 1/4 share in future 
profits. Goodwill of the firm was valued at ? 3,20,000 and Chunni was unable to bring anything. 
Calculate New Ratio, Sacrificing Ratio and journalise for goodwill at the time of admission of 
Chunni.  
OR 
Yashasvi, Nitish and Harshit were partners sharing Profit &Loss in the ratio 5:3:2. W.e.f 01 April, 
2025, they decided to share future Profit &Loss in the ratio 4:3:2. On the date of reconstitution 
Goodwill was appearing in the books of ? 4,00,000. Goodwill of the firm was valued at ? 
7,20,000 on the date of reconstitution. Determine gain or sacrifice for each partner and pass 
necessary entries. 
3 
18.  Hemant and Pankaj were partners sharing Profit & Loss in the ratio of 3:2. The firm was 
dissolved on March 31, 2024 and the following balances were appearing in the books of the 
firm. 
a. Hemant’s Loan ? 80,000 
b. Ruby’s Loan ? 50,000 
c. Creditors ? 1,00,000 
d. Capital Balances after all adjustments – Hemant ? 1,60,000 and Pankaj - ? 1,40,000 
Assets of the firm realised at ? 6,00,000. You are required to show the amounts and order of 
payments as per section 48 of Indian Partnership Act 1932 at the time of Dissolution of the 
firm.  
3 
19.  On January 01, 2025 Ritu Ltd. Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% discount 
to be redeemed at 10% premium at the end of 5 years. Balance in Securities Premium on the 
date of such issue was of ? 2,70,000. Pass entries for Issue of debentures.  
3 
20.  Ankur and Vikram were partners sharing Profits &Losses in the ratio 3:2. They decided to share 
future Profits & Losses equally. On the date of reconstitution there was Investment Fluctuation 
Reserve of ? 4,00,000 in the books of accounts. Pass entries in the following cases  
A. Value of Investment reduced by ? 2,50,000. 
B. Value of Investment increased by ? 5,00,000. 
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Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
ACCOUNTANCY (055) 
SAMPLE QUESTION PAPER 
Class XII (2025-26) 
TIME 3 HOURS                                                                                                                              MAX. MARKS 80 
GENERAL INSTRUCTIONS: 
1. This question paper contains 34 questions. All questions are compulsory. 
2. This question paper is divided into two parts, Part A and B. 
3. Part - A is compulsory for all candidates.  
4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised Accounting. 
Students must attempt only one of the given options.  
5. Question 1 to 16 and   27 to 30 carries 1 mark each. 
6. Questions 17 to 20, 31and 32 carries 3 marks each. 
7. Questions from 21 ,22 and 33 carries 4 marks each 
8. Questions from 23 to 26 and 34 carries 6 marks each  
9. There is no overall choice. However, an internal choice has been provided in 7 questions of one 
mark, 2 questions of three marks, 1 question of four marks and 2 questions of six marks.  
 
Part - A 
S.N
o. 
 Marks 
 Part A :- Accounting for Partnership Firms and Companies   
1.  A partner’s capital account was credited with ?80,000 during the year. Which of the following 
can be the possibility for such a credit in his capital account? 
A. Opening Balance B. Drawings during the year 
C. Loss during the year D. Capital introduced 
 
OR 
 
Assertion (A) :- Fluctuating Capital Account can show debit balance. 
Reason (R) :- Losses and Drawings can be more than Capital Balance. 
A. Both A and R are correct and R is the correct explanation of A 
B. Both A and R are correct but R is not the correct explanation of A 
C. A is correct but R is incorrect 
D. Both A and R are incorrect. 
 
1 
2.  On 1
st
 July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. 
C was guaranteed that his share of profits will not be less than ? 60,000 p.a.  Deficiency if any 
will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ? 
1,25,000. Deficiency will be borne by A and B will be: 
A. A ? 30,000 and B ? 30,000 B. A ? 43,750 and B ? 26,250 
C. A ? 42,500 and B ? 42,500 D. A ? 35,000 and B ? 35,000 
 
1 
3.  Pali Limited offered 2,00,000 shares of ? 10 each at a premium of ? 2 per share. Applications 
were received for 1,95,000 shares, which were duly allotted. The amount was payable as ?3 on 
Application (including ?1 premium), ? 6 on Allotment (including ?1 premium) and balance on 
call. Manoj, holding 6,000 shares failed to pay allotment money and his shares were 
1 
 
 
 
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Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
immediately forfeited. Out of the forfeited shares, 4,000 shares were re-issued @ ? 11 per 
share as fully paid up. The amount of Capital Reserve will be: 
A. ? 16,000 B. ? 12,000 C. ? 8,000 D. ? 18,000 
OR 
Prafful Limited forfeited 15,000 shares of ? 20 each on which ? 8 (including ? 2 premium) was 
paid. Out of these 13,000 shares were re-issued @ ? 19 per share as fully paid up. Determine 
the amount of Share Forfeited balance.   
A. ? 90,000 B. ? 91,000 C. ? 12,000 D. ? 16,000 
 
 
4.  Pista Ltd. took over running business of Vista Ltd. comprising of Assets of ? 45,00,000 and 
Liabilities of ? 7,50,000 and in consideration issued them 30,000, 9% debentures of ? 100 each 
at 5% discount and a cheque of ? 10,00,000. Determine the amount of Goodwill or Capital 
Reserve. 
A. Goodwill ? 9,00,000 B. Capital Reserve ? 9,00,000 
C. Goodwill ? 1,00,000       D. Capital Reserve ? 1,00,000 
OR 
Dawn Ltd. purchased Equipment and paid ? 2,20,000 by cheque and issued 16,000 equity 
shares of ? 10 each at 25% premium. The purchase consideration will be: 
A. ? 3,40,000  B. ? 4,20,000  C. ? 3,80,000  D. ? 2,00,000  
 
1 
5.  Bala and Lala were partners in a firm with Capitals of ? 24,00,000 and 16,00,000. They admitted 
Mala as a new partner for 1/3 share for which Mala brings ? 20,00,000 as capital. There was 
Investment and Investment Fluctuation Reserve appearing in the books of ? 2,50,000 and ? 
50,000 respectively. Bala took over 40% of the Investments at ? 80,000 and remaining 
Investments were valued at ? 1,10,000. By what amount Revaluation account will be affected 
for the above information?   
A. Debited ? 60,000 B. Credited with ? 60,000 
C. Debited ? 10,000 D. Credited ? 10,000 
 
1 
6.  Jai  and Veeru were in a partnership sharing Profit &Loss in the ratio 5:3. Their Capitals were ? 
10,00,000 and ? 8,00,000 respectively. The firm was also having reserves of ? 7,00,000. Normal 
rate of return was 10%. Firm made average profits of ? 2,30,000 for the year ended March 31, 
2025 (after adjustment of loss of machinery of book value of ?2,00,000 by fire against which 
insurance claim of ?1,50,000 was admitted). Value of goodwill as per Capitalisation of super 
profits will be: 
A. ? 10,00,000 B. ? 3,00,000 C. ? 18,00,000 D. Nil. 
 
1 
7.  On 1
st
 August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ?5,00,000 
each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025, 
Tyke withdrew ? 80,000. What amount of Interest on drawings will be charged from Tyke?  
A. ? 4,800 B. ? 1,600 C. ? 3,200 D. ? 2,400 
 
1 
8.  A, B and C were partners sharing Profits &Losses in the ratio 7:2:1. B died. A took over 1/20 
from his share and remaining share was taken over by C. Determine the new Profit sharing 
Ratio. 
A. 4 : 1 B. 7 : 1 C. 71 : 29 D. 3 : 1 
OR 
X, Y and Z were partners sharing Profit & Losses in the ratio 5:3:2. Y retired, and he gifted half 
of his share to X and remaining half was taken over equally by X and Z. Determine the new 
Profit-sharing Ratio. 
A. 29 : 11 B. 13 : 7 C. 1 : 1 D. 5 : 2 
 
1 
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Please note that the assessment scheme of the academic session 2024-25 will continue in the current session i.e. 2025-26 
 
9.  X, a partner was assigned to look after the dissolution process and was allowed remuneration 
of ? 15,000. Actual realisation expenses amounted to ? 20,000, being paid by another partner 
Y. By what amount Realisation account will be debited for the above-mentioned information? 
A. ? 20,000 B. ? 35,000 C. ? 5,000 D. ? 15,000 
 
1 
10.  Arun and Barun were partners sharing Profits &Losses in the ratio 3:2. They admitted Charan 
into partnership for 20% share. Charan was to bring proportionate Capital and he brought ? 
3,50,000 (including ? 50,000 for goodwill share) in firm. If adjusted capital of Arun after 
Revaluation Gain/Loss, Accumulated Profits/Losses and Goodwill treatment was ? 8,40,000. 
What was Barun’s Capital after Revaluation Gain/Loss, Accumulated Profits/Losses and 
Goodwill treatment? 
A. ? 5,60,000 B. ? 3,60,000 C. ? 12,00,000 D. ? 6,60,000 
OR 
Raghav and Sahil were partners sharing Profit &Loss in the ratio 5:3. Their capital balances were 
? 7,20,000 and ? 2,80,000 respectively. There were balances of General Reserve of ? 5,00,000 
and Deferred Revenue Expenditure of ? 4,00,000 in the books of the firm. They admitted Ojasv 
into partnership for 20% share for which he brings ? 4,00,000 as capital. Determine the 
goodwill share of Ojasv. 
A. ? 5,00,000 B. ? 1,00,000 C. ? 1,20,000 D. ? 60,000 
 
1 
11.  Building was appearing in the books at ? 20,00,000 which was overvalued by 25%. What 
amount will be shown in the Balance Sheet of a reconstituted firm for building?  
A. ? 25,00,000 B. ? 16,00,000 C. ? 24,00,000 D. ? 15,00,000 
 
1 
 From the given hypothetical situation, answer Q 12 – 14. 
 
Floater Ltd. issued 60,000; 8% debentures of ? 100 each at 5% Discount and to be redeemed at 
10% premium at the end of 5 years. On the date of issue, balance in Securities Premium was ? 
8,00,000 and Statement of Profit Loss (Dr.) was ? 5,00,000. 
 
 
12.  Loss on Issue of Debentures is to be written off as  ______ out of Securities Premium and  
______) out of Statement of Profit and Loss. 
A. ? 4,50,000 ; ? 4,50,000 B. ? 6,00,000 ; ? 3,00,000 
C. ? 8,00,000 ; ? 1,00,000 D. ? 4,00,000 ; ? 5,00,000 
 
1 
13.  After writing off Loss on Issue of Debentures, _______ balance in Statement of Profit and Loss 
will be ________ 
A. Debit ; ? 6,00,000  B. Credit ; ? 6,00,000 
C. Debit ; ? 4,00,000 D. Credit ; ? 4,00,000 
 
1 
14.  Premium on Redemption of Debentures account will have a balance of________ to be treated 
as ______ in the first year. 
A. ? 9,00,000 ; Non-Current Liabilities  B. ? 9,00,000 ; Current Liabilities 
C. ? 6,00,000 ;  
Non-Current Liabilities 
D. ? 6,00,00 ; Current Liabilities 
 
1 
15.  Arun, Basu and Tarun were partners sharing Profit &Loss in the ratio 5:3:2. Their firm was 
dissolved on March 31, 2025. On this date following assets and liabilities were appearing in 
their books of accounts.  
Building ? 2,00,000 ; Furniture ? 80,000 ; Stock ? 70,000 ; Goodwill ? 10,000 ; Debtors ? 40,000 
; Cash ? 20,000 ; Creditors ? 50,000 ; Arun’s Loan ? 60,000 ; Tarun’s Brother Loan ? 30,000.  
Assets realised at for ? 3,40,000. Determine the amount of Realisation Gain/Loss.  
1 
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A. Realisation Loss ? 80,000 B. Realisation Gain ? 60,000 
C. Realisation Loss ? 60,000 D. No Gain or Loss on Realisation 
 
16.  John and Sourabh were partners sharing Profit &Loss equally. They decided to share future 
Profit &Loss in the ratio 3:2. Their manager Arya met with an accident in the office itself and his 
claim for compensation amounted to ?. 50,000. The firm had a Workmen Compensation 
Reserve of ?. 80,000. Which of the following statement holds true at the time of 
reconstitution?  
A. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be distributed amongst partners in old ratio. 
B. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be distributed amongst partners in new ratio. 
C. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will 
 be credited to Revaluation Account. 
D. ? 50,000 will be provided as workmen claim out of Workmen Compensation Reserve 
and balance ? 30,000 will be carried forward in the books of the firm without any 
treatment. 
 
1 
17.  Raju, Rinku and Munni were partners sharing Profits & Losses in the ratio 3:1:1. They admitted 
Chunni into partnership for 1/5 share. It was decided that Munni will have 1/4 share in future 
profits. Goodwill of the firm was valued at ? 3,20,000 and Chunni was unable to bring anything. 
Calculate New Ratio, Sacrificing Ratio and journalise for goodwill at the time of admission of 
Chunni.  
OR 
Yashasvi, Nitish and Harshit were partners sharing Profit &Loss in the ratio 5:3:2. W.e.f 01 April, 
2025, they decided to share future Profit &Loss in the ratio 4:3:2. On the date of reconstitution 
Goodwill was appearing in the books of ? 4,00,000. Goodwill of the firm was valued at ? 
7,20,000 on the date of reconstitution. Determine gain or sacrifice for each partner and pass 
necessary entries. 
3 
18.  Hemant and Pankaj were partners sharing Profit & Loss in the ratio of 3:2. The firm was 
dissolved on March 31, 2024 and the following balances were appearing in the books of the 
firm. 
a. Hemant’s Loan ? 80,000 
b. Ruby’s Loan ? 50,000 
c. Creditors ? 1,00,000 
d. Capital Balances after all adjustments – Hemant ? 1,60,000 and Pankaj - ? 1,40,000 
Assets of the firm realised at ? 6,00,000. You are required to show the amounts and order of 
payments as per section 48 of Indian Partnership Act 1932 at the time of Dissolution of the 
firm.  
3 
19.  On January 01, 2025 Ritu Ltd. Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% discount 
to be redeemed at 10% premium at the end of 5 years. Balance in Securities Premium on the 
date of such issue was of ? 2,70,000. Pass entries for Issue of debentures.  
3 
20.  Ankur and Vikram were partners sharing Profits &Losses in the ratio 3:2. They decided to share 
future Profits & Losses equally. On the date of reconstitution there was Investment Fluctuation 
Reserve of ? 4,00,000 in the books of accounts. Pass entries in the following cases  
A. Value of Investment reduced by ? 2,50,000. 
B. Value of Investment increased by ? 5,00,000. 
3 
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C. There was no change in value of investments. 
21.  Sapphire Ltd. Was registered with an authorised capital of ? 80,00,000 divided into 4,00,000 
shares of ? 20 each. Company offered and issued 1,50,000 shares at a premium of ? 4 per share 
payable as ? 7 on application (including ? 1 premium), ? 12 on allotment (including ? 2 
premium) and balance on first call. Rancho, holding 10,000 shares failed to pay allotment and 
call money. Another shareholder Sultan holding 5,000 shares failed to pay the call money. All 
the shares held by Rancho were forfeited and of these 8,000 were reissued at ? 22 per share as 
fully paid. 
Show Share Capital sub head as it would in the Balance Sheet of Sapphire ltd. along with notes 
to Account as per the Companies Act 2013. 
4 
22.  Amit, Sumit and Pulkit were partners sharing Profit &Loss in the ratio 5:3:2. Their Capitals were 
? 8,00,000; ? 7,00,000 and ? 5,00,000 respectively. According to Partnership Deed:- 
(a) Interest on Capital @ 10% p.a. 
(b) Salary to Amit ? 10,000 p.m and Pulkit ? 15,000 per quarter. 
(c) Commission to Sumit ? 70,000. 
(d) Sumit was being guaranteed that his share of profits will not be less than ? 65,000. 
Deficiency if any will be borne by Amit and Pulkit equally.  
Ignoring the above terms the profits of ? 6,00,000, for the year ended March 31, 2025 were 
divided equally between partners. You are required to pass necessary adjustment entry. Show 
your workings clearly. 
4 
23.  Extract of Financial statements of Alexa Ltd are produced below. 
 
                      Balance Sheet ( Extract) 
   
Equity and Liabilities Note no. 31-03-25  31-03-24 
Shareholders funds 
   (?)  (?) 
Equity Share capital 1 2,37,60,000 2,00,00,000 
Reserves and Surplus 2 20,00,000 10,00,000 
 
Note No. 1             Share Capital 
  
Authorised Share Capital 31-03-25 (?) 31-03-24 (?) 
Equity shares of Rs.10 each    -------  ------- 
Issued Capital 2,37,60,000 2,00,00,000 
Subscribed capital (Fully Paid) 2,37,60,000 2,00,00,000 
 
Note No. 2           Reserves and Surplus 31-03-25 (?) 31-03-24 (?) 
Securities Premium 20,00,000 10,00,000 
 
During the year Alexa ltd. purchased business of Gloria ltd. with assets of Rs.50,00,000 and 
liabilities of Rs.20,00,000. With regards to the following additional Information: 
1) During the year 40,000 Equity Shares were issued at a premium of Rs.4 per share for cash. 
2) Besides this no shares were issued as sweat equity, bonus or as ESOP or in any other form. 
 
Give journal entries for issue of shares for cash and consideration other than cash. Also, 
prepare Share Capital A/c and Securities Premium Account in the books of Alexa ltd. 
6 
24.  Alok, Deepak and Manish were partners sharing Profit &Loss in the ratio 5:3:2. Deepak retired 6