CBSE Class 12 Accountancy Sample Paper 2024-25: The Central Board of Secondary Education (CBSE) is a national level board of education in India. It has released the 2024-25 sample question papers for the students of class 12. These sample papers are important for the students who will be appearing in the 2025 examination. The sample papers have been released on the official website of the Board.
This article covers the CBSE Class 12 Accountancy Model Paper and marking scheme. Solving this paper will help students in their examination preparation. When students solve sample papers, it helps them to understand how much they have understood from what they have learned. This also helps them to understand the type and level of difficulty of questions that they can expect in the examination. It also helps to develop writing practice and teaches time management.
Continue reading to download the Accountancy Sample Paper Class 12 with marking scheme in pdf format for free.
CBSE Class 12 Accountancy Question Paper Design 2024-25
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, 31 and 32 carry 3 marks each.
7. Questions from 21, 22 and 33 carry 4 marks each.
8. Questions from 23 to 26 and 34 carry 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.
CBSE Class 12 Accountancy Sample Paper 2024-25
Go through the questions from Accountancy Sample Paper 2024-25.
PART A
(Accounting for Partnership Firms and Companies)
Q1. Anthony a partner was being guaranteed that his share of profits will not be less than ₹ 60,000 p.a. Deficiency, if any was to be borne by other partners Amar and Akbar equally. For the year ended 31st March, 2024 the firm incurred loss of ₹ 1,80,000. What amount will be debited to Amar’s Capital Account in total at the end of the year?
A. ₹ 60,000
B. ₹ 1,20,000
C. ₹ 90,000
D. ₹ 80,000
Q2. Assertion: Partner’s current accounts are opened when their capital are fluctuating. Reasoning: In case of Fixed capitals all the transactions other than Capital are done through Current account of the partner.
A. Both A and R are true and R is the correct explanation of A.
B. Both A and R are true but R is not the correct explanation of A.
C. A is true but R is false
D. A is false but R is true
Q3. Forfeiture of shares leads to reduction of _________________Capital.
A. Authorised
B. Issued
C. Subscribed
D. Called up
OR
Moon ltd. issued 40,000, 10% debentures of ₹100 each at certain rate of discount and were to be redeemed at20% premium. Exiting balance of Securities premium before issuing of these debentures was ₹12,00,000 and after writing off loss on issue of debentures , the balance in Securities Premium was ₹2,00,000. At what rate of discount these debentures were issued?
A. 10%
B. 5%
C. 25%
D. 15%
Q4. At the time of admission of new partner Vasu, Old partners Paresh and Prabhav had debtors of ₹ 6,20,000 and a provision for doubtful debts (PDD) of ₹ 20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worth ₹ 15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation?
A. Bad Debts A/c Dr. 15,000
To Debtors A/c 15,000
Prov for D. debts A/c Dr. 15,000
To Bad Debts A/c 15,000
B. Bad Debts A/c Dr. 15,000
To Debtors A/c 15,000
Revaluation A/c Dr. 15,000
To Prov for doubt debts A/c 15,000
C. Revaluation A/c Dr. 15,000
To Debtors A/c 15,000
D. Bad Debts A/c Dr. 15,000
To Revaluation A/c 15,000
OR
Ram and Shyam were partners sharing profits and losses in the ratio of 3:2. Their balance sheet shows building at ₹ 1,60,000. They admitted Mohan as a new partner for 1/4th share. In additional information it is given that building is undervalued by 20%. The share of loss/gain of revaluation of Shyam is ____________ & current value of building shown in new balance sheet is _______.
A. Gain ₹ 12,800, Value₹ 1,92,000
B. Loss ₹ 12,800, Value₹ 1,28,000
C. Gain ₹ 16,000, Value₹ 2,00,000
D. Gain ₹ 40,000, Value₹ 2,00,000
Q5. The profit earned by a firm after retaining ₹ 15,000 to its reserve was ₹ 75,000. The firm had total tangible assets worth ₹ 10,00,000 and outside liabilities ₹ 3,00,000. The value of the goodwill as per capitalization of average profit method was valued as ₹ 50,000. Determine the rate of Normal Rate of Return.
A. 10 %
B. 5 %
C. 12 %
D. 8 %
Q6. Mohit had applied for 900 shares, and was allotted in the ratio 3 : 2. He had paid application money of ₹ 3 per share and couldn’t pay allotment money of ₹ 5 per share. First and Final call of ₹ 2 per share was not yet made by the company. His shares were forfeited. The following entry will be passed
Share Capital A/c Dr. X
To Share Forfeited A/c Y
To Share Allotment A/c Z
Here X, Y and Z are:
A. ₹ 6,000; ₹ 2,700; ₹ 3,300
B. ₹ 4,800; ₹ 2,700; ₹ 2,100
C. ₹ 4,800; ₹ 1,800; ₹ 3,000
D. ₹ 6,000; ₹ 1,800; ₹ 4,200
OR
A company forfeited 6,000 shares of ₹ 10 each, on which only application money of ₹ 3 has been paid. 4,000 of these shares were re-issued at ₹ 12 per share as fully paid up. Amount of Capital Reserve will be _______.
A. ₹ 18,000
B. ₹ 12,000
C. ₹ 30,000
D. ₹ 24,000
Q7. On 1st April 2019 a company took a loan of ₹80,00,000 on security of land and building. This loan was further secured by issue of 40,000, 12% Debentures of ₹100 each as collateral security. On 31st March 2024 the company defaulted on repayment of the principal amount of this loan consequently on 1st April 2024 the land and building were taken over and sold by the bank for ₹70,00,000. For the balance amount debentures were sold in the market on 1st May 2024. From which date would the interest on debentures become payable by the company?
A. 1st April 2019.
B. 31st March 2024.
C. 1st April 2024.
D. 1st May 2024.
Q8. Rama, a partner took over Machinery of ₹ 50,000 in full settlement of her Loan of ₹ 60,000. Machinery was already transferred to Realisation Account. How it will effect the Realisation Account?
A. Realisation Account will be credited by ₹ 60,000
B. Realisation Account will be credited by ₹ 10,000
C. Realisation Account will be credited by ₹ 50,000
D. No effect on Realisation Account
OR
Dada, Yuvi and Viru were partners sharing profits and losses in the ratio 3:2:1. Their 1 books showed Workmen Compensation Reserve of ₹ 1,00,000. Workmen Claim amounted to ₹ 60,000. How it will affect the books of Accounts at the time of dissolution of firm?
A. Only ₹ 40,000 will be distributed amongst partner’s capital account
B. ₹ 1,00,000 will be credited to Realisation Account and ₹ 60,000 will be paid off.
C. ₹ 60,000 will be credited to Realisation Account and will be even paid off. Balance ₹ 40,000 will be distributed amongst partners.
D. Only ₹ 60,000 will be credited to Realisation Account and will be even paid off.
Q9. Ikka, Dukka and Teeka were partners sharing profits and losses in the ratio of 2:2:1. Their fixed Capital balances were ₹ 5,00,000; ₹ 4,00,000 and ₹ 3,00,000 respectively. For the year ended March 31, 2024 profits of ₹ 84,000 were distributed without providing for Interest on Capital @ 10% p.a as per the partnership deed. While passing an adjustment entry, which of the following is correct?
A. Teeka will be debited by ₹ 4,200
B. Teeka will be credited by ₹ 4,200
C. Teeka will be credited by ₹ 6,000
D. Teeka will be debited by ₹ 6,000
Q10. At the time of dissolution Machinery appears at ₹ 10,00,000 and accumulated depreciation for the machinery appears at ₹ 6,00,000 in the balance sheet of a firm. This machine is taken over by a creditor of ₹ 5,40,000 at 5% below the net value. The balance amount of the creditor was paid through bank. By what amount should the bank account be credited for this transaction?
A. ₹ 60,000.
B. ₹ 1,60,000.
C. ₹ 5,40,000.
D. ₹ 4,00,000
Q11. Rahul, Samarth and Ayaan were partners sharing profits and losses in the ratio of 5:4:3. Ayaan’s fixed Capital balance as on March 31, 2024 was ₹ 2,70,000. Which of the following items would have affected this Capital balance?
A. Profit/Loss for the year
B. Additional Capital introduced
C. Reduction in Capital due to Capital Adjustment
D. Both B and C
Q12. Shares issued as sweat equity can be (I) Issued at par.
(ii) Issued at discount.
(iii) Issued at a premium.
Which of the following is correct?
A. Only (i) is correct.
B. Both (i) and (iii) are correct.
C. All are correct.
D. Only (ii) is correct.
Q13. 2,000 shares allotted to Ms. Regal, on which ₹ 80 each called up and ₹ 50 paid were forfeited and reissued for ₹ 70 each as ₹ 90 paid up. Amount transferred to capital 1 reserve A/c is
A. ₹ 1,00,000
B. ₹ 60,000
C. ₹ 40,000
D. ₹ 20,000
Q14. Joey, Sam and Tex were partners sharing profits and losses in the ratio 5:3:2. W.e.f 01 April, 2024 they decided to share future profits and losses in the ratio 2:1:1. For which of the following balances Tex will be credited at the time of reconstitution of firm, if the firm decided to continue with available accumulated profits and losses balances.
A. General Reserve ₹ 2,00,000 and Profit and Loss (Dr.) ₹ 1,20,000
B. General Reserve ₹ 2,00,000 and Profit and Loss (Cr.) ₹ 2,50,000
C. Deferred Revenue Expenditure ₹ 50,000 and Profit and Loss (Cr.) ₹ 80,000
D. Deferred Revenue Expenditure ₹ 50,000 and Profit and Loss (Dr.) ₹ 80,000
Q15. Rohit, Virat and Shikhar were partners sharing profits and losses in the ratio 3:1:1. Their Capital balance as on March 31, 2024 was ₹ 3,00,000; ₹ 2,70,000 and ₹ 2,50,000 respectively. On the same date, they admitted Hardik as a new partner for 20% share. Hardik was to bring ₹ 80,000 for his share of goodwill and 1/5 of the combined capital of all the partners of new firm. What will be the amount of capital brought in by Hardik on his admission as a new partner?
A. ₹ 2,25,000
B. ₹ 1,80,000
C. ₹ 2,60,000
D. ₹ 3,05,000
OR
A, B and C were partners sharing profits and losses equally. B died on 31 August, 2023 and total amount transferred to B’s executors was ₹ 13,20,000. B’s executors were being paid ₹ 1,20,000 immediately and balance was to be paid in four equal semiannual instalments together with interest @ 10% p.a. Total amount of interest to be credited to B’s executors Account for the year ended March 31, 2024 will be?
A. ₹ 70,000
B. ₹ 67,500
C. ₹ 60,000
D. ₹ 77,000
Q16. String and Kite were partners sharing profits and losses in the ratio 5:3. They admitted spinner as a new partner. String sacrificed ¼ from his share and Kite sacrificed 1/6 of his share. What will be the new ratio?
A. 6:5:5
B. 9:5:10
C. 15:10:7
D. 35:21:40
Q17. Rusting, a partner of a firm under dissolution was to get a remuneration 2% of the total assets realised other than cash and 10% of the amount distributed to the partners. Sundry assets (including Cash ₹ 8,000) realised at ₹ 1,16,000 and sundry liabilities to be paid ₹ 31,340.Calculate Rustings’s remuneration and Show your workings clearly. Also pass necessary journal entry for remuneration.
Q18. A, B and C were partners sharing profits, and losses in the ratio of 2:2:1. C died on 1st July, 2023 on which date the capitals of A, B and C after all necessary adjustments stood at ₹74,000, ₹ 63,750 and 42,250 respectively. A and B continued to carry on the business for six months without settling the accounts of C. During the period of six months from 1 -7-2023, a profit of ₹ 20,500 is earned using the firm’s property. State which of the two options available u/s 37 of the Indian Partnership Act, 1932 should be exercised by executors of C and why?
OR
Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share in the profits. For this purpose, the goodwill of the firm was to be valued at four years' purchase of super profits. The Balance Sheet of the firm on Saurabh's admission was as follows:
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Capital Accounts | Fixed Assets (Tangible) | 75,000 | |
| Amit 90,000 | Furniture | 15,000 | |
| Kartik 50,000 | 1,40,000 | Stock | 30,000 |
| Creditors | 5,000 | Debtors | 20,000 |
| General Reserve | 20,000 | Cash | 50,000 |
| Bills Payable | 25,000 | ||
| 1,90,000 | 1,90,000 |
The normal rate of return is 12% p.a. Average profit of the firm for the last four years was ₹30,000. Calculate Saurabh’s share of goodwill.
Q19. Buddha Limited took over assets of ₹ 40,00,000 and liabilities of ₹ 6,50,000 of Ginny Limited. Buddha Limited issued 30,000, 8% Debentures of ₹ 100 each at 10% discount, to be redeemed at 5% premium along with cheque of ₹ 5,00,000. Pass necessary journal entries in the books of Buddha Ltd.
Or
A company forfeited 8,000 shares of ₹ 10 each on which ₹ 8 were called (including ₹ 1 premium) and ₹ 6 was paid (including ₹ 1 premium). Out of these 5,000 shares were reissued at maximum possible discount. Pass necessary journal entries.
Q20. Bat, Cat and Rat were partners sharing profits and losses in the ratio 5:3:2. Cat retired and on that date there was a balance of Investment of ₹ 4,00,000 and Investment Fluctuation Reserve of ₹ 1,00,000 was appearing in the balance sheet.
Pass necessary journal entries for Investment Fluctuation reserve in the following cases.
(i) Market Value of Investments was ₹ 4,80,000.
(ii) Market Value of Investments was ₹ 3,80,000.
(iii)Market Value of Investments was ₹ 2,90,000
Q21. A company forfeited certain number of shares of Face Value ₹ 10 each, for nonpayment of final call money of ₹ 4. These shares were reissued at a discount of ₹ 5 and amount of ₹ 4500 was transferred to capital Reserve account. Pass the necessary journal entries to show the above transactions and prepare Share forfeited account.
Q22. X, Y and Z were partners sharing profits and losses equally. Y died on 1st October, 2023 and total amount transferred to Y’s executors was ₹ 15,60,000. Y’s executors were being paid ₹ 3,60,000 immediately and balance was to be paid in four equal quarterly instalments, together with Interest @ 6% p.a. Pass entries till payment of first two 4 instalments.
Q23. K.N. Ltd. invited applications for issuing 6,00,000 equity shares of ₹10 each at a premium of ₹3 per share. The amount was payable as follows: On Application and Allotment - ₹3 per share; On First Call -₹4 per share; On Second and Final Call — Balance (including premium). The issue was oversubscribed by 1,50,000 shares. Applications for 50,000 shares were rejected and the application money was refunded. Shares were allotted to the remaining applicants as follows:
Category I: Those who had applied for 4,00,000 shares were allotted 3,00,000 shares on pro- rata basis.
Category II: The remaining applicants were allotted the remaining shares.
Excess application money received with applications was adjusted towards sums due on first call. Rakesh to whom 6,000 shares were allotted (out of Category I) failed to pay the first call money. His shares were forfeited. The forfeited shares were re-issued at ₹13 per share fully paid up after the second call. Pass necessary journal entries for the above transactions in the books of K.N. Ltd.
OR
a) Pass the necessary journal entries for 'Issue of Debenture' for the following:
i. Arman Ltd. issued 750, 12% Debentures of ₹100 each at a discount of 10% redeemable at a premium of 5%.
ii. Sohan Ltd. issued 800, 9% Debentures of ₹100 each at a premium of 20 per debenture redeemable at a premium of ₹10 per Debenture.
b) X Ltd. obtained a loan of ₹4,00,000 from IDBI Bank. The company issued 5,000 9%. Debentures of ₹100 each as a collateral security for the same. Show how these items will be presented in the Balance Sheet of the company.
Q24. Meghna, Mehak and Mandeep were partners in a firm whose Balance Sheet as on 31st March, 2023 was as under:
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Creditors | 28,000 | Cash | 27,000 |
| General Reserve | 7,500 | Debtors | 20,000 |
| Capitals: Meghna 20,000 Mehak 14,500 Mandeep 10,000 | 44,500 | Stock | 28,000 |
| Furniture | 5,000 | ||
| 80,000 | 80,000 |
Mehak retired on this date under following terms:
(i) To reduce stock and furniture by 5% and 10% respectively.
(ii) To provide for doubtful debts at 10% on debtors.
(iii) Goodwill was valued at `12,000.
(iv) Creditors of Rs.8,000 were settled at Rs.7,100.
(v) Mehak should be paid off and the entire sum payable to Mehak shall be brought in by Meghna and Mandeep in such a way that their capitals should be in their new profit-sharing ratio and a balance of Rs.25,000 is maintained in the cash account. Prepare Revaluation Account and partners’ capital accounts of the new firm.
OR
Varun and Vivek were partners in a firm sharing profits in the ratio of 3:2. The balance in their capital and current accounts as on 1 st April, 2022 were as under:
| Particulars | Varun (₹) | Vivek (₹) |
| Capital accounts | 3,00,000 (Cr.) | 2,00,000 (Cr.) |
| Current accounts | 1,00,000 (Cr.) | 28,000 (Dr) |
The partnership deed provided that Varun was to be paid a salary of ₹ 5,000 p.m. whereas Vivek was to get a commission of ₹ 30,000 for the year. Interest on capital was to be allowed @ 8% p.a. whereas interest on drawings was to be charged @ 6% p.a. The drawings of Varun were ₹ 3,000 at the beginning of each quarter while Vivek withdrew ₹ 30,000 on 1 st September, 2022. The net profit of the firm for the year, 2022-23, before making the above adjustments was ₹ 1,20,000. Prepare Profit and Loss Appropriation Account and Partners' Capital and Current Accounts.
To download the complete sample paper and marking scheme in pdf format, click on the links below:
CBSE Class 12 Accountancy Sample Paper 2024-25 PDF Download
CBSE Class 12 Accountancy Marking Scheme 2024-25 PDF Download
Tips to Prepare for CBSE Class 12 Accountancy Examination
1. Students must first familiarize themselves with the syllabus so as to understand which topics carry more weightage. Ensure that you prepare according to the latest syllabus only.
2. Accountancy is a subject that demands regular practice. It is important that students practice as much as they can. Practice the questions given at the end of each chapter. Note the points where you get stuck during solving questions.
3. Students should prepare an effective study plan and give time to all topics on the basis of their strengths and weaknesses. Don’t let your bias towards your favourite chapter affect the time-table. The schedule should also have time for revision.
4. Students should solve the problems from CBSE Class 12 subject textbook to clear the concepts and strengthen understanding. While solving problems, students should make it a habit to show rough work clearly which will help them in the examination as well.
5. Solve a number of previous year question papers and give mock tests to get insights into the type and level of difficulty of questions. Solving these will help to increase the speed of students. to check your level of preparedness. Pay attention to the questions that are repeatedly asked every year.
Online Test Series for CBSE Class 12 Students
Class 12 students can prepare effectively for the exams with the help of online test series prepared by the subject matter experts. These test series will help students to check their exam preparation. Refer to the links below:
CBSE Class 12 Commerce Online Test Series
CBSE Class 12 Science Online Test Series
CBSE Class 12 Humanities Online Test Series
Also, check
CBSE Additional Practice Questions for CBSE Board Exam 2024
NCERT Solutions for CBSE Class 12 - Updated
NCERT Books for CBSE Class 12 - Latest Edition
NCERT Rationalised Content for Class 12
CBSE Class 12 Deleted Syllabus 2025
CBSE Class 12 Competency Based Questions 2024-25 PDFs
CBSE Class 12 Syllabus 2024-2025: Download PDF of All Subjects
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