Book Keeping and Accountancy Board Question Paper 2025-2026 HSC Commerce (English Medium) 12th Standard Board Exam Question Paper Solution

Cost of goods sold = Opening Stock + Purchases − `square`

Complete the table:

Complete the table:

Complete the table:

Complete the table:

The Profit or Loss from revaluation on the retirement of a partner is shared by ______.

The remaining partners

All the partners

Only retiring partner

Bank

Profit and Loss Suspense Account is shown in the new Balance Sheet on ______ side.

Debit

Credit

Asset

Liabilities

Not for Profit Organization is also called ______ organization.

Service

Trading

Profit Making

Commercial

A ______ is an intangible asset.

Goodwill

Stock

Cash

Furniture

______ is credited when an unrecorded asset is brought into the business.

Revaluation Account

Balance Sheet

Trading Account

Partners capital Account

Write the Word/Term/Phrase which can substitute the following statement:

Debit balance of revaluation Account.

Give the word, term or phrase which can substitute the following statement:

It is a damaged software, cracked, nearly fully functional.

Write a word/term/phrase which can substitute for the following statement:

Average Profit − Normal Profit =

Write the word/phrase/term, which can substitute the following sentence.

An Account which records only revenue items in case of Not for profit concern.

Write the word/phrase/term, which can substitute the following sentence.

Partnership agreement in written form.

When face value of the share is ₹ 100 and issued price is ₹ 110 then it is said that the shares are issued at ______.

A person who draws the bill of exchange is known as ______.

Dissolution expenses are credited to ______ account.

Credit side of Receipts and Payments Account shows cash ______.

Expenses which are paid before due date are called as _____.

The Balance Sheet of Mohit and Rohit who shared profits equally, was as follows:

On 1st April 2021, Sujit joined the firm as a partner for 1/5th share of future profit on the following terms and conditions:

1. Stock, Plant, and Machinery are to be reduced by 20%.
2. Land and Building is to be valued at ₹ 1,75,000.
3. A provision of 10% is to be created on debtors.
4. Sujit is to bring in ₹ 2,00,000 as capital.
5. Goodwill is valued at ₹ 4,00,000. Sujit is to bring his share of goodwill in cash.

Draft the Journal Entries in the books of the firm and show the Profit and Loss Adjustment Account.

Give journal entries of the following in the books of Daulat.

1. Sarita’s acceptance for 3 months of 20,000 was discounted with the bank at 19,800.
2. Siddhi’s acceptance of 15,000 retired one month before the due date at a rebate of 12% p.a.
3. Prachiti’s acceptance of 9,750 is endorsed in favour of Bhumika in full settlement of her account 10,000.
4. Sold goods to Madhura 20,000 @ 10% trade discount. Received half the amount in cash and for the balance a bill for 2 months which was accepted by Madhura. On the due date, Madhura meets the bill.

Rajeev, Sanjeev and Mahesh were partners in the firm Janki Traders sharing profit and losses in the ratio of 2 : 2 : 1. The following is the Balance Sheet as on 31st March 2022:

On the above date, the partners decided to dissolve the firm.

1. Assets were realised as under:
   Machinery ₹ 1,80,000, Stock ₹ 72,000, Investment ₹ 84,000, and Debtors ₹ 1,80,000.
2. Dissolution expenses were ₹ 12,000.
3. Goodwill of the firm realised ₹ 96,000.

Prepare necessary ledger accounts to close the books of the Partnership Firm.

Ramesh, Dinesh and Mahesh were partners sharing profits and losses in the ratio of 5 : 2 : 3. Their balance sheet as on 31st March 2020 was as follows:

Dinesh retired from business on 1^st April 2020 on the following terms:

1. The assets were revalued as under:
   1. Stock ₹ 38,000
   2. The building is appreciated by 10%
   3. Plant and Machinery is to be depreciated by 10%
   4. R.D.D. is increased up to ₹ 1,000.
2. The goodwill of the retiring partner is valued at 18,000, and the remaining partners decided that the goodwill be written off in their new ratio, which will be 5 : 3.
3. Amount due to Dinesh is to be transferred to his loan account.

Prepare:

1. Revaluation Account
2. Partners’ Capital Account and
3. Balance Sheet of New Firm.

Mahendra, Jitendra, and Hitendra are in partnership sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as on 31st March 2022 was as follows:

On 1^st October 2022, Hitendra died, and the partnership deed provided that:

1. Machinery valued at ₹ 80,000 and creditors valued at ₹ 69,000.
2. Profit for 2022-23 was estimated at ₹ 1,20,000. Hitendra’s share in it up to the date of his death was given to him.
3. Goodwill of the firm was valued at two times the average profit of the last 5 years. Firm’s profit of the last 5 years were:
   1. year ₹ 1,80,000,
   2. year ₹ 1,50,000,
   3. year ₹ 2,00,000,
   4. year ₹ 1,20,000
   5. year ₹ 2,50,000.
      Hitendra’s share in it was to be given to him.
4. Drawings made by Hitendra up to his death are ₹ 30,000.
5. Interest on drawings of Hitendra charged ₹ 2,000.

Prepare: Hitendra’s Capital Account and show the working of:

1. Hitendra’s share in goodwill.
2. Hitendra’s share in profit.

Explain the importance of computerized accounting system.

Pavitra Co. Ltd. issued ₹ 20,00,000 capital divided into equity shares of ₹ 100 each at a premium of ₹ 20 per share.

Amount payable as:

₹ 20 on Application

₹ 40 on Allotment (including 10 premium)

₹ 60 on First and Final call (including ₹10 premium)

Company received applications for all shares. All the money due on allotment and first and final call was duly received.

Pass Journal Entries in the books of Pavitra Co. Ltd.

The company had the following current assets and current liabilities: https://www.maharashtrastudy.com

Debtors ₹ 1,20,000, Creditors ₹ 60,000, Stock ₹ 60,000, Bills Payable ₹ 40,000, Loose Tools ₹ 20,000, Bank Overdraft ₹ 20,000.

Calculate the following ratios:

1. Gross Profit Ratio
2. Operáting Ratio
3. Net Profit Ratio
4. Current Ratio

From the following transactions of Samarth Vyayamshala, Chandgad, prepare the Income and Expenditure Account and Balance Sheet as on 31^st March 2022.

Adjustments:

1. Capital fund as on 1st April 2021 was 2,10,000.
2. Assets on 1st April 2021 were:
   Building 1,50,000
   Furniture 45,000
3. Provide depreciation on the building at 5% p.a. and on the furniture at 10% p.a.
4. 50% of entrance fees to be capitalised.
5. There are 1,500 members, each paying a yearly subscription of 50.

Snehal and Deepali are partners sharing profits and losses in their capital ratio. Following is the Trial Balance as on 31st March 2021:

Adjustments:

1. Closing stock is valued at 1,76,000.
2. Outstanding wages 1,600.
3. Reserve for doubtful debts on Debtors at 5% is to be created.
4. Depreciate motor van by 5% and plant and machinery by 10% p.a.

Prepare:

1. Trading Account
2. Profit and Loss Account
3. Balance Sheet as on 31st March 2021