List of top Questions asked in CBSE CLASS XII

Diksha, Raj and Amit were partners in a firm sharing profits and losses in the ratio of 6:3:1. On 1st April, 2025 Amit retired. On the date of Amit's retirement, there existed a balance of Rs 90,000 in Workmen's Compensation Fund. Pass the necessary journal entries for treatment of Workmen's Compensation Fund on Amit's retirement in each of the following cases:

(i) Claim on account of Workmen's Compensation was estimated at Rs 1,00,000.

(ii) Claim on account of Workmen's Compensation was estimated at Rs 70,000.

(iii) Claim on account of Workmen's Compensation was estimated at Rs 90,000.

Shaurya, Morya and Gaurav were partners in a firm sharing profits and losses in the ratio of 3:2:1. On 31st March, 2025, Shaurya retired. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and reassessment of liabilities was Rs 3,20,000. Shaurya was paid Rs 3,90,000 in full settlement of his claim. The value of goodwill of the firm on the date of Shaurya's retirement was:

Jatin, Karan and Sia were partners in a firm sharing profits and losses in the ratio of 2:2:1. On 31st March, 2025, their Balance Sheet was as follows:

Jatin retired from the firm on the above date on the following terms:

(i) Goodwill of the firm was valued at Rs 3,00,000 and the same was to be treated without opening goodwill account.

(ii) Revaluation of assets and reassessment of liabilities resulted in a loss of Rs 75,000.

(iii) Amount payable to Jatin was transferred to his loan account.

Pass necessary journal entries for goodwill, general reserve and revaluation of assets and reassessment of liabilities on Jatin's retirement.

Anish, Neha and Bindu were partners in a firm sharing profits and losses in the ratio of 4:2:1. On 1st October, 2024 Anish advanced a loan of Rs 4,00,000 to the firm. In the absence of a partnership agreement, the amount of interest on loan due to Anish on 31st March, 2025 will be:

On 1st April, 2024, MM Ltd. issued 4,000, 9% Debentures of Rs 50 each at a premium of 5%, redeemable at a premium of Rs 10 per debenture after five years. Interest on the debentures was to be paid on half-yearly basis on 30th September and 31st March. Interest on debentures for the year ended 31st March, 2025 will be:

Tanay and Ishaan were partners in a firm and their capitals were Rs 4,00,000 and Rs 1,00,000 respectively. Normal rate of return in a similar business was 15% and goodwill of the firm was valued at Rs 1,00,000. If goodwill was calculated at two years purchase of super profits, the average profits of the firm were:

Explain various options available to a user to change the shape outline of a chart element to improve its visual appearance.

From the following information obtained from the books of 'Ajanta Ltd.', calculate Cash from Operations:

Net Profit for the year ended 31st March, 2025 after charging depreciation of Rs 80,000 and after writing off goodwill Rs 10,500 was Rs 4,90,000.

Additional Information:

Aastha, Diya and Mohit were partners in a firm sharing profits and losses in the ratio of 5:3:2. On 31st March, 2025 their Balance Sheet was as follows:

Aastha retired from the firm on the above date on the following terms:

(i) Goodwill of the firm was valued at Rs 2,00,000 and the same was to be treated without opening goodwill account.

(ii) Revaluation of assets and reassessment of liabilities resulted in a loss of Rs 60,000.

(iii) Amount payable to Aastha was transferred to her loan account.

Pass necessary journal entries for goodwill, general reserve and revaluation of assets and reassessment of liabilities on Aastha's retirement.

Diwan Ltd. was registered with an authorised capital of Rs 1,00,00,000, divided into 1,00,000 equity shares of Rs 100 each. The company invited applications for issuing 50,000 shares. The amount was payable as follows: On Application and Allotment - Rs 30 per share; On First call - Rs 40 per share; On Second and Final call - balance. The issue was fully subscribed. All amounts were duly received except from Nawal, a shareholder holding 700 shares, who failed to pay the second and final call. His shares were forfeited.

'In MS Excel, charts can be formatted and customised to make them more attractive and meaningful.' Explain the procedure to change the shape style of a chart element. Also state various shape fill options available to the user for enhancing the appearance of a chart.

Give the meaning of the following:

(i) Cell reference

(ii) Relative cell reference

(iii) Absolute cell reference

(iv) Mixed cell reference

Explain Array form of LOOKUP function.

Mr. Rinku and Mrs. Pinky were partners in a firm sharing profits and losses in the ratio of 3:2. On 31st March, 2025, their balance sheet was as follows:

On the above date the firm was dissolved and the following transactions took place:

(i) Mr. Rinku agreed to pay Mrs. Rinku's loan and took away stock for Rs 16,000.

(ii) Mrs. Pinky took half of the investments at 10% less. Debtors realised Rs 44,000, Building realised Rs 4,00,000, Creditors were paid Rs 5,000 less and the remaining investments were sold for Rs 19,000. An old furniture not recorded in the books of the firm was taken over by Mrs. Pinky for Rs 18,000. Realisation expenses amounted to Rs 6,000.

Prepare Realisation Account.

What is meant by codification? Explain the meaning of mnemonic codes with the help of an example.

State any three limitations of Computerised Accounting System.

From the following information, calculate 'Proprietary Ratio' and 'Debt-to-Equity Ratio':

'Net Asset Turnover ratio' of a company is 2 times. State with reason whether the following transactions will increase, decrease or not affect the ratio:

(i) Cash sales Rs 3,00,000

(ii) Issue of equity shares Rs 10,00,000

(iii) Issue of 9% debentures Rs 5,00,000

(iv) Credit purchase of goods Rs 50,000

From the following information obtained from the books of 'Informatics India Ltd.', calculate 'Cash from Operations':

Net Profit for year ended 31st March, 2025 after providing depreciation of Rs 60,000 and after writing off goodwill of Rs 2,000 was Rs 3,40,000.

Additional Information:

Asha and Indra were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet on 31st March, 2025 was as following:

On 1st April, 2025, Suraj was admitted for 1/4 share in the profits of the firm on the following terms:

(i) Suraj will bring capital proportionate to his share in the profits of the firm.

(ii) Goodwill of the firm was valued at Rs 1,00,000 and Suraj will bring his share of goodwill premium in cash.

(iii) Furniture was taken over by Asha at Rs 1,00,000.

(iv) A liability of Rs 5,000 included in creditors was not likely to arise.

(v) Plant and Machinery was revalued at Rs 4,35,000.

Prepare Revaluation Account and Partners' capital accounts on Suraj's admission. Show the calculation of proportionate capital clearly.

Promil, Kamlesh and Ritika were partners in a firm sharing profits and losses in the ratio of 5:3:2. From 1st April, 2025 they decided to share future profits in the ratio of 2:3:5. On 31st March, 2025, their Balance Sheet was as follows:

It was agreed that:

(i) Land and Building will be valued at Rs 6,62,000.

(ii) A provision of 5% on debtors will be made for bad and doubtful debts.

(iii) Goodwill of the firm will be valued at Rs 1,80,000 and the same will be treated without opening goodwill account.

(iv) The value of stock will be reduced to Rs 2,00,000.

Showing your working clearly, pass necessary journal entries for the above transactions in the books of the firm.

Naik, Vinay and Vibhuti were partners in a firm sharing profits and losses in the ratio of 4:2:3. On 31st March, 2025, their Balance Sheet was as follows:

Naik retired from the firm on the above date on the following terms:

(i) Goodwill of the firm was valued at Rs 1,80,000 and the same was to be treated without opening goodwill account.

(ii) Revaluation of assets and reassessment of liabilities resulted in a loss of Rs 18,000.

(iii) Amount payable to Naik was transferred to his loan account.

Pass necessary journal entries for general reserve, revaluation of assets and reassessment of liabilities and goodwill on Naik's retirement.

Raha, Naveen and Vandana were partners in a firm sharing profits and losses equally. Naveen retired on 31st March, 2025. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and reassessment of liabilities was Rs 1,27,000. Naveen was paid Rs 1,50,000 in full settlement of his claim. The value of goodwill of the firm on the date of Naveen's retirement was:

Pass necessary journal entries for the issue of debentures for the following transactions:

(i) XS Ltd. issued 40,000, 9% Debentures of Rs 100 each at a premium of 10%, redeemable at a premium of 5%.

(ii) YG Ltd. issued 50,000, 9% Debentures of Rs 100 each at par, redeemable at a premium of 10%.

On 1st April, 2024, DD Ltd. issued 2,000, 9% Debentures of Rs 50 each at a premium of 5%, redeemable at a premium of Rs 10 per debenture after five years. Interest on the debentures was to be paid on half-yearly basis on 30th September and 31st March. Interest on the debentures for the year ended 31st March, 2025 will be: