PSEB Punjab Board Class 12th Accountancy Model Test Paper 2025: The Punjab School Education Board (PSEB) has made available the sample question papers for the students of class 12. The model papers have been released for a number of subjects including Business Studies, Accountancy, Physics, Chemistry. In this article we have provided the PSEB Class 12 Accountancy Model Test Paper.
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These sample papers are most important for students who will be appearing in the 2025 Board examinations. Students must go through the syllabus carefully to understand the type of questions, pattern of paper and marking scheme. Solving sample question papers is an essential part of the process of exam preparation. Not only does it help students get a check of how much they have understood from what they have learnt but it also makes them better at time management.
Continue reading to download the PSEB Class 12 Accountancy sample paper for your exam preparation.
PSEB Class 12 Accountancy Model Test Paper 2025
Check the questions from the PSEB Class 12 Accountancy sample question paper below.
| Section - A
Answer the following questions: | ||||||||||||||||||||||||||||||||||||
| i.When is the goodwill valued? ii.Explain the 'Realisation Expenses'. iii. In which ratio, the premium brought in by new partner as his share of goodwill, is shared by old partners? iv.What do you mean by retirement of a partner? | ||||||||||||||||||||||||||||||||||||
| Multiple choice questions v.Pick the odd one out: (A) Salary to a Partner (B) Rent to a Partner (C) Commission to a partner (D) Interest on Partner's capital | ||||||||||||||||||||||||||||||||||||
| vi.Average Profit - Normal Profit = .....?... (A)Premium (B) Super profit (C)Gross profit (D)None of these | ||||||||||||||||||||||||||||||||||||
| vii.L and M are sharing profits and losses in the ratio of 5:3. They agree to admit X, their manager, into partnership who is to get 1/4 share in the profits. X acquires this share entirely from L. The new profit sharing ratio among L, M and X will be: (A) 5:3:1 (B) 19: 13:8 (C)3:3:2 (D) 1:1:1 | ||||||||||||||||||||||||||||||||||||
| viii.An unrecorded asset was valued at ₹1,20,000. On firm's dissolution, it was sold at 75% of its value. Realisation account will be credited with: (A) ₹90,000 (B) ₹30,000 (C) No Entry (D) ₹1,20,000 | ||||||||||||||||||||||||||||||||||||
| xi.Depreciation of assets is recorded on which side of the revaluation account? (A) Debit side (B) Credit side (C) Both (a) and (b) (D) None of these | ||||||||||||||||||||||||||||||||||||
| Fill in the Blanks x.Partners are collectively called_(company/firm) xi.Revaluation Account is_account. (real/nominal) xii.The executor is entitled to all the rights of a _(Retiring Partner/Deceased Partner) | ||||||||||||||||||||||||||||||||||||
| Attempt all questions from Q no. 2 to 10 which carry 2 marks each. | ||||||||||||||||||||||||||||||||||||
| 2.What are Fluctuating Capital Accounts? 3.Explain any two factors affecting the goodwill. 4.Write any two ways by which a partner can be retired from the firm. 5.What do you mean by Change in Profit Sharing Ratio? | ||||||||||||||||||||||||||||||||||||
| 6.Calculate the Interest on Drawings of 'P @ 10% per annum for the year ended 31st March, 2024 in each of following alternative cases: Case 1 : If he withdraws ₹2,500 per month during the year. Case 2: If his drawing during the year was ₹45,000. 7.A, B and C are partners sharing profits and losses in the ratio of 2:3:4. They decided to share future profits and losses in the ratio of 4:3:2. They also decided to record the effect of the following without affecting their book values : General Reserve ₹80,000 Advertisement Suspense A/c ₹30,000 You are required to give the necessary journal entry. 8.A and B are partners in a firm sharing profits and losses in the ratio of 3: 2. C is admitted for 1/5th share in profits of the firm. Calculate the new profit sharing ratio of the partners if, C gets it equally from A and B. 9.A, B and C are partners sharing profits in the ratio of 1 :1:1. Goodwill is appearing in their books at a value of ₹6,00,000. A retires and on the day of A's retirement Goodwill is valued at ₹4,50,000. B and C decided to share future profits equally. Pass the necessary Journal entries. 10.Pass journal entries for the following transactions: (i) An unrecorded assetrealised ₹12,000. (ii) Realisation expenses amounted to ₹27,000 were paid by partner 'Neha.' | ||||||||||||||||||||||||||||||||||||
| 11. Do any four questions out of five questions. Each question carries 4 marks. | ||||||||||||||||||||||||||||||||||||
| (i)Write any four characteristics of Partnership. (ii) The average Net Profits expected in the future by Ashoka Firm are ₹72,000 per year. The average capital employed in the business by the firm is ₹4,00,000. The rate of return expected from capital invested in this class of business is 10%. The remuneration of the partners is estimated to be ₹12000 per annum. Find out the value of goodwill: a.On the basis of two years' purchase of Super Profits. b.On the basis of capitalisation of Super Profits. (iii)'Mandeep' and ‘Rajiv' were partners in a firm sharing profits and losses in ratio of 2 : 1. On 31st March, 2024, their Balance Sheet was as follows:
They agreed to admit ‘Harry' as a partner from Ist April, 2024 with 1/4 th share in the profits of the firm on the following terms: 1.Harry will bring in ₹50,000 as capital and his share of goodwill in cash. 2.Goodwill of the firm has been valued at ₹66,000. 3..The provision on debtors is to be raised to ₹900. 4.Building is to be appreciated by ₹7,000. 5.Plant is to be depreciated by ₹3,000. Prepare Revaluation Account and Partners' Capital Accounts. | ||||||||||||||||||||||||||||||||||||
| (iv)Raman' and 'Raghav' were partners sharing profits and losses equally. On 31st March, 2024, the Balance Sheet of the firm was as follows:
Their firm was dissolved on above date and the assets and liabilities were settled as follows: 1.The creditors were paid off by giving them the plant and machinery at 90% of book value and the balance creditors were paid in cash. 2.Debtors were realised at 90% of the amount due from them. 3.Stock was taken over by 'Raghav' at ₹17,000. 4.Investments realised 80% of their book value. 5.Realisation expenses ₹1600 were paid by 'Raman.' 6.'Raghav's loan was paid with interest of ₹ 1000. Prepare Realisation Account. (v) Explain various adjustments carried out at the time of death of a partner. |
Now that you have gone through the questions, download the complete sample paper and check all the questions for the 2025 Board examination from the direct link:
Download PSEB Class 12 Accountancy Sample Question Paper 2025
PSEB Class 12 Syllabus 2024-25
Students can download the latest PSEB Class 5 syllabus for all subjects from the link provided below. Check the syllabus to know about the course structure, marking scheme and unit-wise weightage. Click on the below link:
Download PSEB Class 12 Syllabus 2024-25
Tips to Prepare for PSEB Class 12 Accountancy Examination
1.Check the syllabus carefully. Go through the chapters and topics that have to be covered for the examination. Check the mark weightage.
2.Design your study plan and stick to it. Allot time to all topics on the basis of their strengths and weaknesses. Make sure to make time for revision too.
3.Accountancy is a subject that requires practice. Solve a variety of questions as much as you can. Note the points on which you get stuck.
4.Clear your basics. If concepts are not cleared in your mind, then you will not be able to solve difficult problems. Rely on your textbook firstmost. Read the chapters carefully and make notes. Solve the questions given at the end of every chapter.
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.
PSEB Class 12 Online Test Series for Commerce 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 link:
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