of537 Thev aduitucu F as

Half Yearly Sr.hivuy Sebool

Secondary)
Time Allowed: 3-hour
Ixaminatton (2023-24)
Subjcct- Accointancy
Class XII Max Marks: 80
General Instructlons:
This question paper contains 34 questions.
> Quostions no. I to 20 carry 1mark Aoscach. solpulãorg.So0
Questions no. 21 to 24 carry 3 mrks cach.
> Questions no. 25 to 30 carry 4 marks eacl.
> Questions no. 31 to 34 carry6 marks cach.

the qu¢slions from 1-3

Duestion: Read the following hypothetical p ragrapli and ansWr contribution being40,000,
A, B and C are partners sharing profit in the ratio 3:2:1. Their capital
30,000and 26,000respectively. The partaers vanted to expand their busincsso they decided to
double their capital. It was duly followed by And B. But due to financial problem Cwas unable to
follow the decision, So, the partners decided t admit a new pru Dwho will bridge the shortfall of
he sacrificed by Calone. The
capital. The new partner will get half of the siare of C's capital
new partner brings in the required capital and 10,000 for his share of premium.
Q1. What will be the new profit-sharing ratio?
6:4:1:I b. 3:2:1:1 c. 5:4".2 d. None of these
Q2. What amount of capital bought in by the partner
A 20,000 b.2 30,000 c. 0,000 (d10,000
Ö3. What is the value of goodwill of the firm?
a.? 1,00,000 b.,20,000 c. 0,000 d. 50,000

Q4. C
and D were partners in a firm. E was ad:nited as a new partncr for 1/6" share. Eaccuired 1/3" of
his share from C and the remaining fromD
The sacrificing ratio ofC and D vas:
(ay1:2 O) 16:9 (d) 2:1

QS. A, Band Cwere partners in afirm sharing profits.nd losses in the ratio of 5:3:2. With efeot from
o1.04.2023, they agreed to share profits and losses cqually. Due to change in the profit sharing ratio, B's
gaj or sacrifice will be
e) Gain I30 (b) Sacrifice l/3 (c) Gain 5/30 (d) Sacrifice 4/30
06. Aand B were partners in a firm. They admited C as a new partner for 1/3" share in the profits of he
profit t will be:
firm which he acquired from A. A's new share in the
a) 1/2 (b) 1/4 (c) 1/3
R died. R's share was taken over by P. P's new
Q7. P, Q andR were Dartners in a firm. On 31.032022,
share in the profits of the firm will be:
(b) I/3 (c) 112 (d) 3/4
partners hip tim ratio of 3:2.
sharing profits and losses in thedrawings
and Radha were partners in a uee te
Q8. Madhu quarter during the year cnded 31.03.2023. Interest on
Madhu withdrew 20.000 in each
on Madbu's(c)drawings will be:
be charged @6% p.a. Interest 1,8CO (d) ? 4,800
(a)R 3,000 \o2,400
profit && losses
inthe ratio of 3:2:1. On 1" Aptl 2019 B
A, B and Care partners in &firm sharing
Q9. of retirement after adjustments the capital account of B showed aredit
decided to retire. On the date
was paid in cash
balance of? 1,39,600. He in three equal annual installments.
transrerred to 31l.03.2021 willpayable
19 600 and balance amountinterest be:
repaid on
Amount of loan along with
44,800 (c)442.400 (d)? 40,000
(a) 47,000
22
Page 1 0f b
as a
CD and Ewere partners inthe
a rm
profits whi rofits and losses in the mtio of 5:3:L, They ofacmilieufa
2:1:2. C's
Dewpartner for 1/4 share in was sacrificed
by Ein the ratio
C, Dand
new share in the profits will be: (c)3/10
(e)2/5 (b) 3/5 (@) 4/20
10,
u S Of 45,000 cpch. They ndmitted Ý ns afewpartner fot í
o17. Xand Z were partners in a firn
1/3 share in the nrofits of the finm. Yorou8b0,000 as his capital, Based on Y's share in the profits
contribution, ne3odwill of the firm will be:(d) 90,000
of the firm and his capital (b)
(a) 1,80,000
1,50,000 (o) 30,000
Q18. Match the followings: tato of 3:3:4. On 01.04.2021 B retire from the firm and
sharing profits In ue
A, B andCare patners will be 7:3. Capital Account of partners will be : (Debit);
new profit sharing atio (a) A=3,000 (Debit); B3,000
(i) General reserve 10,000 C=4,000(Debit) B-3,000
reserve &10.000 Partner do not want to (b) A=3,000 (Credit);
(ii) General (Credit);
distribute) C=4,000(Credit) 3,000
10,000 (c) A =4,000 (Credit); B
(ii) Adyerisement suspense (Debit);
C= 1,000 (Debit)
=3,000
(Partner do (a) A=4,000 (Debit); B
(iv) Advertisement suspense 10,000 (Credit);
not want to distribute) C-1,000 (Credit)
Choose the correct answer: (iv)-(b)
(b) (i)-(c); (ii)-(a): (üi)-d); (iv)-(b)
(a) (i)-(d); (ü)-(a); (i)-(b); (iv)-(c) (d) ((-c); (ii)-(d); (ii)-(a);
(c) (i)-(b); (ü)-(d); (iiü)- (a); (iv)-(c) 5,000
partners in a fim. During the year ended 31.03.2022 Jeevan withdrew be
Q19. Josh and Jeevan were30.06.2021. The partnership deed provided that interest on drawings will
which interest on Jeevan's total drawings
per month starting from average numbcr of months for
charged @ 12% per annum. The
will be charged is: (c) 4.5 months (d) 5 months,
(b) 6.5 months
(a) 6 months
drawings 40,000, share of profit 24,000 and tbe additional
regarding
Q20. After doing the adjustments
capital introduced 31.03.2022 was 5,00,000. His capital as on 01.04.2021
Ashok, a partner, as on
7 32,000, the capital of
was: (c)?4,46,000 () 5,96,000,
(b) 5,16,000
() 4,84,000
profits in the ratio of 2:2:1. The firm closes its
Priya and Rajat were partners in a tm sharing Priya's death, the goodwill of thebefrm
Q21. Nisha, July 2022, On
31 # March every year. Priya died on l"
the fim till the time of her death was to
books on of
valued at ?3.00.000 and her share in the ploits
which was 6,00,000.
was previous year's prolit and Priya's share of profit at the time of her
calculated on the basis of treatment of goodwill
entries for the
Pass necesSary ijournal bocro Their fixed
death.
firmsharing profits and losses in the ratio of 3:2. following:
were
partnersina
respectively. The partnership deed provided for the
022. Sharma and Verma and 10,00,000
capitals were 14,00,000
@ 10% per
andum.
 a new
new
sh

Vinod Yuvraj andShare.

Sutu e partners sharing
p t h e ratio of 3:2:1. They admit Satish as a
1/10
new partnerfor
(a2) /

Balance Sheet (Exiract only)

Liabilities Amount Assets Amount
|Furmilure 60,000
Some part of the Furniture was taken over by Vinod for I8.000(Being25% less) and remaining
Eumiture was sold at again of 20%. The above transaction would esut in:
(a) Revaluation Loss 6,000 (b) Revaluation Cain 7,200
( Revaluation Loss 1,200 (d) Revaluatior Gain 1,200
he getsks.50,000 as remunefat+on .Realisation
Q11. Rohit, a partner is to cary out dissolution & with ooo
Expenses were Rs 25,000.Realisation account will be deb1ted (d)e 1,00,000
(a)? 50,000 (b) ? 75,090 (c) * 0
partners sharing profits in thec natio of 4:3. They admit Satish as ahew partaer
Q2 Vinod and Yuvraj art ratio was 2:2:3.
Cfor 3/7 share in profit. New profit sharing ...50,000
Cash Balance (before adnission). 23,10,000
Cash Balance (after admission)
Following entry was found in the book: LE. Debit Credit
Date Particulars
16,000
Vinod's Capital A/c Dr
Yuvraj's Capital A/c Dr 8,000
24,000
To Cash Alc
(Being 40% of the goodwill premium
B2 t
withdrawn)
How much capital brought in by Satish?
(a) 2,60,000 (b) 1,80,000 eR2,24,000 ) 2,00,000
=80,000; 2019-20 =1,00,000'and 2020-21=
Qi3. Tte net profits for the last 3 years were: 2018-19 to
aaounting to 20,000 was wrongly debitedmethod
80,000. On ist July 2019, a Minor Kepeir to Machinery p.a. ou witten down value
Machinery Account. Depreciation on Machinery was charged @ 20% purchase of the average profitsoflrst
excluding repairs. Goodwill of the firm was to be valued at 2 years
three years. The goodwill of thehe firm will be:
(a) 1,64,267 (b) 1,62,000 (c) ?1,64,667 ()?1,60,000
in the ratio of 3:2. Their capitals were Rs.1,60,000 and
Q14. Yuvraj and Vinod are partners, sharing profitsa new partner for 1/5th share of profit.
Rs.1,00,000 respectively. Mayank is admitted as Vino's Capital Account was
Mayank brings his share of premium for goodwill in cash out of which
credited with Rs.17,600 for his sacrifice.
credited?
With what amount Yuvraj's Capital Account is to be d) 15,400 830
(a) 26,400 (b) 17,600 (c)?44,000
1,00,000;
O15. A. B and Care partners sharing proits in the ratio of 3:1:1 with capitals of? 3,00,000;
0n00respectively.On 1"April 2021, Cdecided to retire from the firn and new profit sharing
3:1.
ratio between A and B is
Balance of Capital Accoun's of the partners will be:
i) Investment worth 10,000 taken
by Cat 10,0b0 (a) A=2,98,800; B=99,600; C= 91,600|
Cat12,000 (b) A=2,89,200; B=1,00,400; C=
(iü) Investment worth 10,000 taken by
1,00,400
(c) A =3,00,000; B1,00,000; C- 90,000
Gii) Investment worth 10,000 taken by Cat 8,000
iv) nvestment worth 10,000 taken by Aat 12,000 (d) A=3,01,200: B1,00,400; C88,400
ChÍose the correct answey:
(a) i-d; i-a; ii-b; iv-c (b) i-c; ii-a; ii-d; iv-b
(c) i-b; ii-d; iii-a; iv-c (d) i-e; i-d; ii-a; iv-b

Page 2 of 6