Commerce Exam > Commerce Notes > Accountancy Class 12 > Class 12 Accountancy: CBSE Marking Scheme (2025-26)

Class 12 Accountancy: CBSE Marking Scheme (2025-26)

Download, print and study this document offline

Please wait while the PDF view is loading

 Page 1


Page 1 of 11 
 
 
ACCOUNTANCY (055) 
Marking Scheme  
Class XII (2025-26) 
 
No. Question Marks 
 Part A – Partnership and Company Accounts  
1.  D. Capital introduced 
OR 
A. Both A and R are correct, and R is the correct explanation of A 
 
1 
2.  D. A ? 35,000 and B ? 35,000 
 
1 
3.  C. ? 8,000 
OR 
C            ? 12,000 
 
1 
 
 
4.  C. Goodwill ? 1,00,000 
OR 
B. Rs. 4,20,000  
 
1 
5.  C. Debited ? 10,000 
 
1 
6.  B .        ? 3,00,000 
 
1 
7.  B. ? 1,600 
 
1 
8.  D. 3 : 1 
OR 
A. 29 : 11 
 
1 
9.  B. ? 35,000 
 
1 
10.  B ? 3,60,000 
OR 
B. ? 1,00,000 
 
1 
11.  B. ? 16,00,000 
 
1 
12.  C. ? 8,00,000 ; ? 1,00,000 
 
1 
13.  A. Debit ; ? 6,00,000  
 
1 
14.  C. ? 6,00,000 ; Non-Current Liabilities 
 
1 
15.  C. Realisation Loss ? 60,000 
 
1 
16.  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.  C.  D.  
 
1 
17.  Let total share be 1 
Chunni share = 1/5 
Remaining share = 4/5 
Munni  share = 1/4 
Remaining share = 4/5 – 1/4 = 11/20 
Raju share = 11/20 x 3/4 = 33/80 
Rinku share = 11/20 x 1/4 = 11/80 
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16 
Sacrificing Ratio =   3 : 1 (Raju and Rinku) Gain to Munni = 1/20 
                                                                           Journal 
Date Particulars Debit Credit 
3 
Page 2


Page 1 of 11 
 
 
ACCOUNTANCY (055) 
Marking Scheme  
Class XII (2025-26) 
 
No. Question Marks 
 Part A – Partnership and Company Accounts  
1.  D. Capital introduced 
OR 
A. Both A and R are correct, and R is the correct explanation of A 
 
1 
2.  D. A ? 35,000 and B ? 35,000 
 
1 
3.  C. ? 8,000 
OR 
C            ? 12,000 
 
1 
 
 
4.  C. Goodwill ? 1,00,000 
OR 
B. Rs. 4,20,000  
 
1 
5.  C. Debited ? 10,000 
 
1 
6.  B .        ? 3,00,000 
 
1 
7.  B. ? 1,600 
 
1 
8.  D. 3 : 1 
OR 
A. 29 : 11 
 
1 
9.  B. ? 35,000 
 
1 
10.  B ? 3,60,000 
OR 
B. ? 1,00,000 
 
1 
11.  B. ? 16,00,000 
 
1 
12.  C. ? 8,00,000 ; ? 1,00,000 
 
1 
13.  A. Debit ; ? 6,00,000  
 
1 
14.  C. ? 6,00,000 ; Non-Current Liabilities 
 
1 
15.  C. Realisation Loss ? 60,000 
 
1 
16.  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.  C.  D.  
 
1 
17.  Let total share be 1 
Chunni share = 1/5 
Remaining share = 4/5 
Munni  share = 1/4 
Remaining share = 4/5 – 1/4 = 11/20 
Raju share = 11/20 x 3/4 = 33/80 
Rinku share = 11/20 x 1/4 = 11/80 
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16 
Sacrificing Ratio =   3 : 1 (Raju and Rinku) Gain to Munni = 1/20 
                                                                           Journal 
Date Particulars Debit Credit 
3 
Page 2 of 11 
 
 
(i) Chunni’s Current A/c Dr. 
Munni’s Capital A/c Dr. 
    To Raju’s Capital A/c 
    To Rinku’s Capital A/c 
(Being adjustment entry passed for goodwill)  
64,000 
16,000 
 
 
60,000 
20,000 
OR 
Yashasvi’s Gain/sacrifice = 5/10 – 4/9 = 5/90 - Sacrifice,  
Nitish’s Gain/sacrifice = 3/10 – 3/9 = (-) 3/90 - Gain and  
Harshit’s Gain/sacrifice = 2/10 – 2/9 = (-) 2/90 – Gain 
                                                                     Journal 
Date Particulars Debit Credit 
(i) Yashasvi’s Capital A/c Dr. 
Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Goodwill A/c 
(Being existing goodwill written off) 
2,00,000 
1,20,000 
80,000 
  
 
 
4,00,000 
(ii) Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Yashasvi’s Capital A/c 
Being adjustment entry passed for goodwill) 
24,000 
16,000 
 
 
40,000 
 
18.  First: - Rs.1,00,000 paid to Creditors and Rs.50,000 paid to Ruby respectively. 
Second:- Rs.80,000 paid to Hemant next 
Third:- Capital Balances of Hemant and Pankaj Rs.1,60,000 and Rs.1,40,000 paid to partners along 
with Surplus of Rs.70,000 paid to partners Hemant and Pankaj as Rs.42,000 and Rs.28,000 i.e. in 
profit sharing ratio. 
3 
19.                                                                                     Journal 
Date Particulars Debit Credit 
Jan. 
01 
2025 
Bank A/c                                                                                           Dr. 
    To Debentures Application and Allotment A/c 
(Being application and allotment money received for 
debentures) 
38,00,000   
38,00,000 
Jan. 
01 
2025 
Debentures Application and Allotment A/c                               Dr. 
Loss on Issue of Debentures A/c                                                  Dr. 
    To 8% Debentures A/c 
    To Premium on Redemption of Debentures A/c 
(Being Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% 
discount to be redeemed at 10% premium) 
38,00,000 
6,00,000 
  
 
40,00,000 
4,00,000 
 
3 
20.                                                                                  Journal   
Date Particulars Debit Credit 
A Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Investment A/c 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being decline in the value of Investment credited to Investment 
A/c and remaining reserve credited to old partners.) 
4,00,000   
2,50,000 
90,000 
60,000 
B Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
4,00,000 
 
  
2,40,000 
1,60,000 
3 
Page 3


Page 1 of 11 
 
 
ACCOUNTANCY (055) 
Marking Scheme  
Class XII (2025-26) 
 
No. Question Marks 
 Part A – Partnership and Company Accounts  
1.  D. Capital introduced 
OR 
A. Both A and R are correct, and R is the correct explanation of A 
 
1 
2.  D. A ? 35,000 and B ? 35,000 
 
1 
3.  C. ? 8,000 
OR 
C            ? 12,000 
 
1 
 
 
4.  C. Goodwill ? 1,00,000 
OR 
B. Rs. 4,20,000  
 
1 
5.  C. Debited ? 10,000 
 
1 
6.  B .        ? 3,00,000 
 
1 
7.  B. ? 1,600 
 
1 
8.  D. 3 : 1 
OR 
A. 29 : 11 
 
1 
9.  B. ? 35,000 
 
1 
10.  B ? 3,60,000 
OR 
B. ? 1,00,000 
 
1 
11.  B. ? 16,00,000 
 
1 
12.  C. ? 8,00,000 ; ? 1,00,000 
 
1 
13.  A. Debit ; ? 6,00,000  
 
1 
14.  C. ? 6,00,000 ; Non-Current Liabilities 
 
1 
15.  C. Realisation Loss ? 60,000 
 
1 
16.  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.  C.  D.  
 
1 
17.  Let total share be 1 
Chunni share = 1/5 
Remaining share = 4/5 
Munni  share = 1/4 
Remaining share = 4/5 – 1/4 = 11/20 
Raju share = 11/20 x 3/4 = 33/80 
Rinku share = 11/20 x 1/4 = 11/80 
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16 
Sacrificing Ratio =   3 : 1 (Raju and Rinku) Gain to Munni = 1/20 
                                                                           Journal 
Date Particulars Debit Credit 
3 
Page 2 of 11 
 
 
(i) Chunni’s Current A/c Dr. 
Munni’s Capital A/c Dr. 
    To Raju’s Capital A/c 
    To Rinku’s Capital A/c 
(Being adjustment entry passed for goodwill)  
64,000 
16,000 
 
 
60,000 
20,000 
OR 
Yashasvi’s Gain/sacrifice = 5/10 – 4/9 = 5/90 - Sacrifice,  
Nitish’s Gain/sacrifice = 3/10 – 3/9 = (-) 3/90 - Gain and  
Harshit’s Gain/sacrifice = 2/10 – 2/9 = (-) 2/90 – Gain 
                                                                     Journal 
Date Particulars Debit Credit 
(i) Yashasvi’s Capital A/c Dr. 
Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Goodwill A/c 
(Being existing goodwill written off) 
2,00,000 
1,20,000 
80,000 
  
 
 
4,00,000 
(ii) Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Yashasvi’s Capital A/c 
Being adjustment entry passed for goodwill) 
24,000 
16,000 
 
 
40,000 
 
18.  First: - Rs.1,00,000 paid to Creditors and Rs.50,000 paid to Ruby respectively. 
Second:- Rs.80,000 paid to Hemant next 
Third:- Capital Balances of Hemant and Pankaj Rs.1,60,000 and Rs.1,40,000 paid to partners along 
with Surplus of Rs.70,000 paid to partners Hemant and Pankaj as Rs.42,000 and Rs.28,000 i.e. in 
profit sharing ratio. 
3 
19.                                                                                     Journal 
Date Particulars Debit Credit 
Jan. 
01 
2025 
Bank A/c                                                                                           Dr. 
    To Debentures Application and Allotment A/c 
(Being application and allotment money received for 
debentures) 
38,00,000   
38,00,000 
Jan. 
01 
2025 
Debentures Application and Allotment A/c                               Dr. 
Loss on Issue of Debentures A/c                                                  Dr. 
    To 8% Debentures A/c 
    To Premium on Redemption of Debentures A/c 
(Being Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% 
discount to be redeemed at 10% premium) 
38,00,000 
6,00,000 
  
 
40,00,000 
4,00,000 
 
3 
20.                                                                                  Journal   
Date Particulars Debit Credit 
A Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Investment A/c 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being decline in the value of Investment credited to Investment 
A/c and remaining reserve credited to old partners.) 
4,00,000   
2,50,000 
90,000 
60,000 
B Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
4,00,000 
 
  
2,40,000 
1,60,000 
3 
Page 3 of 11 
 
 
(Being reserve  credited to old partners.) 
 Investment A/c                                                                                    Dr. 
      To Revaluation A/c 
(Being investment value increased) 
5,00,000  
5,00,000 
 Revaluation A/ c                                                                                  Dr. 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being profit on revaluation distributed among partners) 
5,00,000  
3,00,000 
2,00,000 
C Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being reserve  credited to old partners.) 
4,00,000 
   
 
 
2,40,000 
1,60,000 
 
21.                                                                      Balance Sheet (extract) 
Particulars Note No. Current Year Previous Year 
EQUITY AND LIABILITIES 
    Shareholders’ Funds 
Share Capital 
 
 
1 
 
 
29,52,000 
 
 
---- 
 
Notes to Accounts 
Note No.   
1 Share Capital Amount 
 Authorised Share Capital 
(4,00,000 Equity shares @ ?20 each) 
80,00,000 
 Issued Share Capital 
(1,50,000 Equity shares @ ?20 each) 
30,00,000 
 Subscribed Share Capital  
 Subscribed and Fully Paid up 
          (1,43,000 Equity shares @ ?20 each) 
 
28,60,000 
 Subscribed but not Fully Paid up 
          5,000 shares @ ?20 each 
          (-) Calls in Arrears 
Add: Share Forfeiture A/c 
  
1,00,000 
(20,000) 
 
 
 
80,000 
12,000 
  29,52,000 
 
4 
22.                                                                                    Journal   
Date Particulars Debit Credit 
Mar. 31 
2025 
Pulkit’s Capital A/c Dr. 
    To Amit’s Capital A/c 
    To Sumit’s Capital A/c 
(Being adjustment entry passed for omission) 
70,000   
65,000 
5,000 
 
Working Notes 
Particulars Amit Sumit Pulkit Firm 
 Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 
Profits wrongly 
shared 
2,00,000  2,00,000  2,00,000   6,00,000 
IOC omitted 
 80,000  70,000  50,000 2,00,000  
Salary omitted 
 1,20,000    60,000 1,80,000  
4 
Page 4


Page 1 of 11 
 
 
ACCOUNTANCY (055) 
Marking Scheme  
Class XII (2025-26) 
 
No. Question Marks 
 Part A – Partnership and Company Accounts  
1.  D. Capital introduced 
OR 
A. Both A and R are correct, and R is the correct explanation of A 
 
1 
2.  D. A ? 35,000 and B ? 35,000 
 
1 
3.  C. ? 8,000 
OR 
C            ? 12,000 
 
1 
 
 
4.  C. Goodwill ? 1,00,000 
OR 
B. Rs. 4,20,000  
 
1 
5.  C. Debited ? 10,000 
 
1 
6.  B .        ? 3,00,000 
 
1 
7.  B. ? 1,600 
 
1 
8.  D. 3 : 1 
OR 
A. 29 : 11 
 
1 
9.  B. ? 35,000 
 
1 
10.  B ? 3,60,000 
OR 
B. ? 1,00,000 
 
1 
11.  B. ? 16,00,000 
 
1 
12.  C. ? 8,00,000 ; ? 1,00,000 
 
1 
13.  A. Debit ; ? 6,00,000  
 
1 
14.  C. ? 6,00,000 ; Non-Current Liabilities 
 
1 
15.  C. Realisation Loss ? 60,000 
 
1 
16.  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.  C.  D.  
 
1 
17.  Let total share be 1 
Chunni share = 1/5 
Remaining share = 4/5 
Munni  share = 1/4 
Remaining share = 4/5 – 1/4 = 11/20 
Raju share = 11/20 x 3/4 = 33/80 
Rinku share = 11/20 x 1/4 = 11/80 
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16 
Sacrificing Ratio =   3 : 1 (Raju and Rinku) Gain to Munni = 1/20 
                                                                           Journal 
Date Particulars Debit Credit 
3 
Page 2 of 11 
 
 
(i) Chunni’s Current A/c Dr. 
Munni’s Capital A/c Dr. 
    To Raju’s Capital A/c 
    To Rinku’s Capital A/c 
(Being adjustment entry passed for goodwill)  
64,000 
16,000 
 
 
60,000 
20,000 
OR 
Yashasvi’s Gain/sacrifice = 5/10 – 4/9 = 5/90 - Sacrifice,  
Nitish’s Gain/sacrifice = 3/10 – 3/9 = (-) 3/90 - Gain and  
Harshit’s Gain/sacrifice = 2/10 – 2/9 = (-) 2/90 – Gain 
                                                                     Journal 
Date Particulars Debit Credit 
(i) Yashasvi’s Capital A/c Dr. 
Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Goodwill A/c 
(Being existing goodwill written off) 
2,00,000 
1,20,000 
80,000 
  
 
 
4,00,000 
(ii) Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Yashasvi’s Capital A/c 
Being adjustment entry passed for goodwill) 
24,000 
16,000 
 
 
40,000 
 
18.  First: - Rs.1,00,000 paid to Creditors and Rs.50,000 paid to Ruby respectively. 
Second:- Rs.80,000 paid to Hemant next 
Third:- Capital Balances of Hemant and Pankaj Rs.1,60,000 and Rs.1,40,000 paid to partners along 
with Surplus of Rs.70,000 paid to partners Hemant and Pankaj as Rs.42,000 and Rs.28,000 i.e. in 
profit sharing ratio. 
3 
19.                                                                                     Journal 
Date Particulars Debit Credit 
Jan. 
01 
2025 
Bank A/c                                                                                           Dr. 
    To Debentures Application and Allotment A/c 
(Being application and allotment money received for 
debentures) 
38,00,000   
38,00,000 
Jan. 
01 
2025 
Debentures Application and Allotment A/c                               Dr. 
Loss on Issue of Debentures A/c                                                  Dr. 
    To 8% Debentures A/c 
    To Premium on Redemption of Debentures A/c 
(Being Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% 
discount to be redeemed at 10% premium) 
38,00,000 
6,00,000 
  
 
40,00,000 
4,00,000 
 
3 
20.                                                                                  Journal   
Date Particulars Debit Credit 
A Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Investment A/c 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being decline in the value of Investment credited to Investment 
A/c and remaining reserve credited to old partners.) 
4,00,000   
2,50,000 
90,000 
60,000 
B Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
4,00,000 
 
  
2,40,000 
1,60,000 
3 
Page 3 of 11 
 
 
(Being reserve  credited to old partners.) 
 Investment A/c                                                                                    Dr. 
      To Revaluation A/c 
(Being investment value increased) 
5,00,000  
5,00,000 
 Revaluation A/ c                                                                                  Dr. 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being profit on revaluation distributed among partners) 
5,00,000  
3,00,000 
2,00,000 
C Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being reserve  credited to old partners.) 
4,00,000 
   
 
 
2,40,000 
1,60,000 
 
21.                                                                      Balance Sheet (extract) 
Particulars Note No. Current Year Previous Year 
EQUITY AND LIABILITIES 
    Shareholders’ Funds 
Share Capital 
 
 
1 
 
 
29,52,000 
 
 
---- 
 
Notes to Accounts 
Note No.   
1 Share Capital Amount 
 Authorised Share Capital 
(4,00,000 Equity shares @ ?20 each) 
80,00,000 
 Issued Share Capital 
(1,50,000 Equity shares @ ?20 each) 
30,00,000 
 Subscribed Share Capital  
 Subscribed and Fully Paid up 
          (1,43,000 Equity shares @ ?20 each) 
 
28,60,000 
 Subscribed but not Fully Paid up 
          5,000 shares @ ?20 each 
          (-) Calls in Arrears 
Add: Share Forfeiture A/c 
  
1,00,000 
(20,000) 
 
 
 
80,000 
12,000 
  29,52,000 
 
4 
22.                                                                                    Journal   
Date Particulars Debit Credit 
Mar. 31 
2025 
Pulkit’s Capital A/c Dr. 
    To Amit’s Capital A/c 
    To Sumit’s Capital A/c 
(Being adjustment entry passed for omission) 
70,000   
65,000 
5,000 
 
Working Notes 
Particulars Amit Sumit Pulkit Firm 
 Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 
Profits wrongly 
shared 
2,00,000  2,00,000  2,00,000   6,00,000 
IOC omitted 
 80,000  70,000  50,000 2,00,000  
Salary omitted 
 1,20,000    60,000 1,80,000  
4 
Page 4 of 11 
 
 
Commission 
   70,000   70,000  
Profits to be shared 
 75,000  45,000  30,000 1,50,000  
Guarantee effect 
10,000   20,000 10,000    
 
2,10,000 2,75,000 2,00,000 2,05,000 2,10,000 1,40,000 6,00,000 6,00,000 
 65,000 (Cr.) 5,000 (Cr.) 70,000 (Dr.) 
  
 
23.                                                                                 Journal   
Date                    Particulars Debit Credit 
 Bank A/c                                                                           Dr. 
    To Equity Share Application and Allotment A/c 
(Being application money including premium received)) 
5,60,000   
5,60,000 
 
 Equity share application and allotment A/c              Dr. 
    To Equity Share Capital A/c 
    To Securities Premium A/c 
(Being Shares issued at premium) 
5,60,000 
 
 
4,00,000 
1,60,000 
 
 Assets A/c                                                                         Dr. 
Goodwill A/c                                                                     Dr. 
    To Liabilities A/c 
    To Gloria ltd. A/c 
(Being business taken over and goodwill recorded) 
50,00,000 
12,00,000 
 
 
20,00,000 
42,00,000 
 Gloria ltd. A/c                                                                  Dr. 
    To Equity Share Capital A/c 
    To Securities Premium A/c 
(Being Purchase consideration paid to Gloria ltd.) 
42,00,000  
33,60,000 
8,40,000 
    
Dr.                                                           Equity Share Capital A/c                                                            Cr. 
Date Particulars Amount Date Particulars Amount 
  
 
To Balance 
C/d 
 
 
2,37,60,000 
 By Balance b/d 
By Equity share application and 
allotment A/c 
By Gloria Ltd. A/c 
2,00,00,000 
4,00,000 
 
33,60,000 
  2,37,60,000   2,37,60,000 
 
Dr.                                                            Securities Premium A/c                                                             Cr. 
Date Particulars Amount Date Particulars Amount 
  
 
To Balance 
C/d 
 
 
20,00,000 
 By Balance b/d 
By Equity share application and allotment 
A/c 
By Gloria Ltd. A/c 
10,00,000 
1,60,000 
 
8,40,000 
  20,00,000   20,00,000 
 
6 
24.                                                                            Journal   
Date                    Particulars Debit Credit 
March 31, 
2025 
Deepak’s Capital A/c Dr. 
    To Furniture A/c 
    To Deepak’s Loan A/c 
(Being Deepak’s Capital account settled) 
6,40,000   
40,000 
6,00,000 
 
 
6 
Page 5


Page 1 of 11 
 
 
ACCOUNTANCY (055) 
Marking Scheme  
Class XII (2025-26) 
 
No. Question Marks 
 Part A – Partnership and Company Accounts  
1.  D. Capital introduced 
OR 
A. Both A and R are correct, and R is the correct explanation of A 
 
1 
2.  D. A ? 35,000 and B ? 35,000 
 
1 
3.  C. ? 8,000 
OR 
C            ? 12,000 
 
1 
 
 
4.  C. Goodwill ? 1,00,000 
OR 
B. Rs. 4,20,000  
 
1 
5.  C. Debited ? 10,000 
 
1 
6.  B .        ? 3,00,000 
 
1 
7.  B. ? 1,600 
 
1 
8.  D. 3 : 1 
OR 
A. 29 : 11 
 
1 
9.  B. ? 35,000 
 
1 
10.  B ? 3,60,000 
OR 
B. ? 1,00,000 
 
1 
11.  B. ? 16,00,000 
 
1 
12.  C. ? 8,00,000 ; ? 1,00,000 
 
1 
13.  A. Debit ; ? 6,00,000  
 
1 
14.  C. ? 6,00,000 ; Non-Current Liabilities 
 
1 
15.  C. Realisation Loss ? 60,000 
 
1 
16.  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.  C.  D.  
 
1 
17.  Let total share be 1 
Chunni share = 1/5 
Remaining share = 4/5 
Munni  share = 1/4 
Remaining share = 4/5 – 1/4 = 11/20 
Raju share = 11/20 x 3/4 = 33/80 
Rinku share = 11/20 x 1/4 = 11/80 
New Ratio = 33/80 : 11/80 : 1/4 : 1/5 = 33 : 11 : 20 : 16 
Sacrificing Ratio =   3 : 1 (Raju and Rinku) Gain to Munni = 1/20 
                                                                           Journal 
Date Particulars Debit Credit 
3 
Page 2 of 11 
 
 
(i) Chunni’s Current A/c Dr. 
Munni’s Capital A/c Dr. 
    To Raju’s Capital A/c 
    To Rinku’s Capital A/c 
(Being adjustment entry passed for goodwill)  
64,000 
16,000 
 
 
60,000 
20,000 
OR 
Yashasvi’s Gain/sacrifice = 5/10 – 4/9 = 5/90 - Sacrifice,  
Nitish’s Gain/sacrifice = 3/10 – 3/9 = (-) 3/90 - Gain and  
Harshit’s Gain/sacrifice = 2/10 – 2/9 = (-) 2/90 – Gain 
                                                                     Journal 
Date Particulars Debit Credit 
(i) Yashasvi’s Capital A/c Dr. 
Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Goodwill A/c 
(Being existing goodwill written off) 
2,00,000 
1,20,000 
80,000 
  
 
 
4,00,000 
(ii) Nitish’s Capital A/c Dr. 
Harshit’s Capital A/c Dr. 
    To Yashasvi’s Capital A/c 
Being adjustment entry passed for goodwill) 
24,000 
16,000 
 
 
40,000 
 
18.  First: - Rs.1,00,000 paid to Creditors and Rs.50,000 paid to Ruby respectively. 
Second:- Rs.80,000 paid to Hemant next 
Third:- Capital Balances of Hemant and Pankaj Rs.1,60,000 and Rs.1,40,000 paid to partners along 
with Surplus of Rs.70,000 paid to partners Hemant and Pankaj as Rs.42,000 and Rs.28,000 i.e. in 
profit sharing ratio. 
3 
19.                                                                                     Journal 
Date Particulars Debit Credit 
Jan. 
01 
2025 
Bank A/c                                                                                           Dr. 
    To Debentures Application and Allotment A/c 
(Being application and allotment money received for 
debentures) 
38,00,000   
38,00,000 
Jan. 
01 
2025 
Debentures Application and Allotment A/c                               Dr. 
Loss on Issue of Debentures A/c                                                  Dr. 
    To 8% Debentures A/c 
    To Premium on Redemption of Debentures A/c 
(Being Issued ? 40,00,000, 8% Debentures of ? 100 each at 5% 
discount to be redeemed at 10% premium) 
38,00,000 
6,00,000 
  
 
40,00,000 
4,00,000 
 
3 
20.                                                                                  Journal   
Date Particulars Debit Credit 
A Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Investment A/c 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being decline in the value of Investment credited to Investment 
A/c and remaining reserve credited to old partners.) 
4,00,000   
2,50,000 
90,000 
60,000 
B Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
4,00,000 
 
  
2,40,000 
1,60,000 
3 
Page 3 of 11 
 
 
(Being reserve  credited to old partners.) 
 Investment A/c                                                                                    Dr. 
      To Revaluation A/c 
(Being investment value increased) 
5,00,000  
5,00,000 
 Revaluation A/ c                                                                                  Dr. 
    To Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being profit on revaluation distributed among partners) 
5,00,000  
3,00,000 
2,00,000 
C Investment Fluctuation  Reserve A/c                                              Dr. 
    To  Ankur’s Capital A/c 
    To Vikram’s Capital A/c 
(Being reserve  credited to old partners.) 
4,00,000 
   
 
 
2,40,000 
1,60,000 
 
21.                                                                      Balance Sheet (extract) 
Particulars Note No. Current Year Previous Year 
EQUITY AND LIABILITIES 
    Shareholders’ Funds 
Share Capital 
 
 
1 
 
 
29,52,000 
 
 
---- 
 
Notes to Accounts 
Note No.   
1 Share Capital Amount 
 Authorised Share Capital 
(4,00,000 Equity shares @ ?20 each) 
80,00,000 
 Issued Share Capital 
(1,50,000 Equity shares @ ?20 each) 
30,00,000 
 Subscribed Share Capital  
 Subscribed and Fully Paid up 
          (1,43,000 Equity shares @ ?20 each) 
 
28,60,000 
 Subscribed but not Fully Paid up 
          5,000 shares @ ?20 each 
          (-) Calls in Arrears 
Add: Share Forfeiture A/c 
  
1,00,000 
(20,000) 
 
 
 
80,000 
12,000 
  29,52,000 
 
4 
22.                                                                                    Journal   
Date Particulars Debit Credit 
Mar. 31 
2025 
Pulkit’s Capital A/c Dr. 
    To Amit’s Capital A/c 
    To Sumit’s Capital A/c 
(Being adjustment entry passed for omission) 
70,000   
65,000 
5,000 
 
Working Notes 
Particulars Amit Sumit Pulkit Firm 
 Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 
Profits wrongly 
shared 
2,00,000  2,00,000  2,00,000   6,00,000 
IOC omitted 
 80,000  70,000  50,000 2,00,000  
Salary omitted 
 1,20,000    60,000 1,80,000  
4 
Page 4 of 11 
 
 
Commission 
   70,000   70,000  
Profits to be shared 
 75,000  45,000  30,000 1,50,000  
Guarantee effect 
10,000   20,000 10,000    
 
2,10,000 2,75,000 2,00,000 2,05,000 2,10,000 1,40,000 6,00,000 6,00,000 
 65,000 (Cr.) 5,000 (Cr.) 70,000 (Dr.) 
  
 
23.                                                                                 Journal   
Date                    Particulars Debit Credit 
 Bank A/c                                                                           Dr. 
    To Equity Share Application and Allotment A/c 
(Being application money including premium received)) 
5,60,000   
5,60,000 
 
 Equity share application and allotment A/c              Dr. 
    To Equity Share Capital A/c 
    To Securities Premium A/c 
(Being Shares issued at premium) 
5,60,000 
 
 
4,00,000 
1,60,000 
 
 Assets A/c                                                                         Dr. 
Goodwill A/c                                                                     Dr. 
    To Liabilities A/c 
    To Gloria ltd. A/c 
(Being business taken over and goodwill recorded) 
50,00,000 
12,00,000 
 
 
20,00,000 
42,00,000 
 Gloria ltd. A/c                                                                  Dr. 
    To Equity Share Capital A/c 
    To Securities Premium A/c 
(Being Purchase consideration paid to Gloria ltd.) 
42,00,000  
33,60,000 
8,40,000 
    
Dr.                                                           Equity Share Capital A/c                                                            Cr. 
Date Particulars Amount Date Particulars Amount 
  
 
To Balance 
C/d 
 
 
2,37,60,000 
 By Balance b/d 
By Equity share application and 
allotment A/c 
By Gloria Ltd. A/c 
2,00,00,000 
4,00,000 
 
33,60,000 
  2,37,60,000   2,37,60,000 
 
Dr.                                                            Securities Premium A/c                                                             Cr. 
Date Particulars Amount Date Particulars Amount 
  
 
To Balance 
C/d 
 
 
20,00,000 
 By Balance b/d 
By Equity share application and allotment 
A/c 
By Gloria Ltd. A/c 
10,00,000 
1,60,000 
 
8,40,000 
  20,00,000   20,00,000 
 
6 
24.                                                                            Journal   
Date                    Particulars Debit Credit 
March 31, 
2025 
Deepak’s Capital A/c Dr. 
    To Furniture A/c 
    To Deepak’s Loan A/c 
(Being Deepak’s Capital account settled) 
6,40,000   
40,000 
6,00,000 
 
 
6 
Page 5 of 11 
 
 
 
Dr.                                                         Deepak’s Loan A/c                                                      Cr. 
Date Particulars Amount Date Particulars Amount 
Mar. 31 
2026 
Bank A/c 
Balance c/d 
2,36,000 
4,00,000 
Apr.01, 2025 
Mar. 31, 2026 
Deepak’s Capital A/c 
Interest A/c 
6,00,000 
36,000 
  6,36,000   6,36,000 
Mar. 31 
2027 
Bank A/c 
Balance c/d 
2,24,000 
2,00,000 
Apr.01, 2026 
Mar. 31, 2027 
Balance b/d 
Interest A/c 
4,00,000 
24,000 
  4,24,000   4,24,000 
Mar. 31 
2028 
Bank A/c 2,12,000 Apr.01, 2027 
Mar. 31, 2028 
Balance b/d 
Interest A/c 
2,00,000 
12,000 
  2,12,000   2,12,000 
 
25.  Dr.                                                                Revaluation Account                                                              Cr. 
Particulars Amount Particulars Amount 
Prov. For Doubtful Debts 4,500 Revaluation (Loss)  
Accrued Income 5,500       Dhwani’s Capital 36,000 
Building 50,000       Iknoor’s Capital 24,000 
 60,000  60,000 
Dr.                                                              Partner Capital Account                                                           Cr. 
Particulars Dhwani Iknoor Ishaya Particulars Dhwani Iknoor Ishaya 
Rev. Loss 36,000 24,000  Balance b/d 2,40,000 2,60,000  
P&L 60,000 40,000  Inv. Fluct. Res. 18,000 12,000  
    Gen. Res. 36,000 24,000  
    Cash A/c   2,50,000 
    Prem. for goodwill 24,000 16,000  
Balance c/d 2,28,000 2,52,000 2,50,000 Ishaya’s Current 6,000 4,000  
 3,24,000 3,16,000 2,50,000  3,24,000 3,16,000 2,50,000 
    Balance b/d 2,28,000 2,52,000 2,50,000 
Balance c/d 4,50,000 3,00,000 2,50,000 Dhwani’s Current 2,22,000   
    Iknoor’s Current  48,000  
 4,50,000 3,00,000 2,50,000  4,50,000 3,00,000 2,50,000 
OR 
Dr.                                                                 Revaluation Account                                                               Cr. 
Particulars Amount Particulars Amount 
Furniture 10,000 Building 20,000 
Prepaid Expenses 20.000 Stock 15,000 
Prov. For doubtful debts 5,000 Creditors 5,000 
Outstanding Expenses 5,000   
 40,000  40,000 
 
Dr.                                                         Partner’s Capital Account                                                           Cr. 
Particulars Aman Barman Raman Particulars Aman Barman Raman 
Def. Rev. Exp. 10,000 6,000 4,000 Balance b/d 80,000 70,000 50,000 
Goodwill 15,000 9,000 6,000 WCR 25,000 15,000 10,000 
Barman’s Cap. 12,000 -- 12,000 Profit and Loss 20,000 12,000 8,000 
Cash  20,000  Aman’s Capital  12,000  
Barman’s Loan  86,000  Raman’s Capital  12,000  
Bal c/d 1,00,000  54,000 Cash 12,000  8,000 
6

	Accountancy Class 12

Accountancy Class 12

Join Course for Free

FAQs on Class 12 Accountancy: CBSE Marking Scheme (2025-26)

1. What are the key components of the Class 12 Accountancy syllabus under the CBSE marking scheme?

Ans. The key components of the Class 12 Accountancy syllabus include financial statements, accounting for partnership firms, and the study of company accounts. The syllabus is designed to provide students with a comprehensive understanding of accounting principles, practices, and the preparation of financial statements for various entities.

2. How is the marking scheme structured for the Class 12 Accountancy examination?

Ans. The marking scheme for the Class 12 Accountancy examination typically consists of a mix of theoretical and practical questions. Students are assessed on their understanding of concepts, application of accounting principles, and their ability to prepare financial statements, with a specified distribution of marks for different sections of the paper.

3. What types of questions can students expect in the Class 12 Accountancy exam?

Ans. Students can expect a variety of question types in the Class 12 Accountancy exam, including objective type questions, short answer questions, and long answer questions. These may cover topics such as journal entries, ledger accounts, trial balances, and preparation of final accounts, requiring both theoretical knowledge and practical application.

4. Why is it important to understand the principles of accounting in Class 12?

Ans. Understanding the principles of accounting in Class 12 is crucial as it lays the foundation for higher studies in commerce and finance. It equips students with essential skills for analysing financial data, making informed business decisions, and understanding the financial health of an organisation, which are valuable in various career paths.

5. What resources can students use to prepare effectively for the Class 12 Accountancy exam?

Ans. Students can utilise a variety of resources to prepare effectively for the Class 12 Accountancy exam, including prescribed textbooks, reference books, previous years' question papers, and online study materials. Additionally, attending coaching classes and participating in group studies can enhance understanding and retention of complex accounting concepts.

About this Document

4.85/5 Rating

Apr 19, 2026 Last updated

Related Exams

Commerce

Document Description: Class 12 Accountancy: CBSE Marking Scheme (2025-26) for Commerce 2026 is part of Accountancy Class 12 preparation. The notes and questions for Class 12 Accountancy: CBSE Marking Scheme (2025-26) have been prepared according to the Commerce exam syllabus. Information about Class 12 Accountancy: CBSE Marking Scheme (2025-26) covers topics like and Class 12 Accountancy: CBSE Marking Scheme (2025-26) Example, for Commerce 2026 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Class 12 Accountancy: CBSE Marking Scheme (2025-26).

Introduction of Class 12 Accountancy: CBSE Marking Scheme (2025-26) in English is available as part of our Accountancy Class 12 for Commerce & Class 12 Accountancy: CBSE Marking Scheme (2025-26) in Hindi for Accountancy Class 12 course. Download more important topics related with notes, lectures and mock test series for Commerce Exam by signing up for free. Commerce: Class 12 Accountancy: CBSE Marking Scheme (2025-26)

Description

Class 12 Accountancy: CBSE Marking Scheme (2025 of Accountancy Class 12 covers all the important topics, helping you prepare for the Commerce exam on EduRev.

Information about Class 12 Accountancy: CBSE Marking Scheme (2025-26)

In this doc you can find the meaning of Class 12 Accountancy: CBSE Marking Scheme (2025-26) defined & explained in the simplest way possible. Besides explaining types of Class 12 Accountancy: CBSE Marking Scheme (2025-26) theory, EduRev gives you an ample number of questions to practice Class 12 Accountancy: CBSE Marking Scheme (2025-26) tests, examples and also practice Commerce tests

	Accountancy Class 12

Accountancy Class 12

Join Course for Free

Download as PDF

Explore Courses for Commerce exam

Class 12 Accountancy: CBSE Marking Scheme (2025-26) Free PDF Download

The Class 12 Accountancy: CBSE Marking Scheme (2025-26) is an invaluable resource that delves deep into the core of the Commerce exam. These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective. With the help of these notes, you can grasp complex subjects quickly, revise important points easily, and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner, allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material, or toppers' notes, this PDF has got you covered. Download the Class 12 Accountancy: CBSE Marking Scheme (2025-26) now and kickstart your journey towards success in the Commerce exam.

Importance of Class 12 Accountancy: CBSE Marking Scheme (2025-26)

The importance of Class 12 Accountancy: CBSE Marking Scheme (2025-26) cannot be overstated, especially for Commerce aspirants. This document holds the key to success in the Commerce exam. It offers a detailed understanding of the concept, providing invaluable insights into the topic. By knowing the concepts well in advance, students can plan their preparation effectively. Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.

Class 12 Accountancy: CBSE Marking Scheme (2025-26) Notes

Class 12 Accountancy: CBSE Marking Scheme (2025-26) Notes offer in-depth insights into the specific topic to help you master it with ease. This comprehensive document covers all aspects related to Class 12 Accountancy: CBSE Marking Scheme (2025-26). It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation. Practice papers and question papers enable you to assess your progress effectively. Additionally, the paper analysis provides valuable tips for tackling the exam strategically. Access to Toppers' notes gives you an edge in understanding complex concepts. Whether you're a beginner or aiming for advanced proficiency, Class 12 Accountancy: CBSE Marking Scheme (2025-26) Notes on EduRev are your ultimate resource for success.

Class 12 Accountancy: CBSE Marking Scheme (2025-26) Commerce Questions

The "Class 12 Accountancy: CBSE Marking Scheme (2025-26) Commerce Questions" guide is a valuable resource for all aspiring students preparing for the Commerce exam. It focuses on providing a wide range of practice questions to help students gauge their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation. The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level. Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.

Study Class 12 Accountancy: CBSE Marking Scheme (2025-26) on the App

Students of Commerce can study Class 12 Accountancy: CBSE Marking Scheme (2025-26) alongwith tests & analysis from the EduRev app, which will help them while preparing for their exam. Apart from the Class 12 Accountancy: CBSE Marking Scheme (2025-26), students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc. The EduRev App will make your learning easier as you can access it from anywhere you want. The content of Class 12 Accountancy: CBSE Marking Scheme (2025-26) is prepared as per the latest Commerce syllabus.

Signup to see your scores go up
within 7 days!

Continue with Google

Takes less than 10 seconds to signup