List of top Accountancy Questions asked in CBSE CLASS XII

Ganga Ltd. was registered with a capital of Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs 10 each. On 1st April, 2025, the company offered to the public for subscription, 7,00,000 shares. Applications for 6,90,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 20,000 shares failed to pay the second and final call of Rs 2 per share.

Answer the following questions on the basis of the above information :

From the following particulars of Mandeep Ltd., calculate the 'Cash Flows from Investing Activities'. Show your working clearly :

Additional information :

(i) A machine having a book value of Rs 1,50,000 was sold for Rs 1,35,000.
(ii) Depreciation charged on machinery during the year was Rs 30,000.
(iii) Investments costing Rs 50,000 were purchased and some investments were sold at a profit of Rs 9,000.
(iv) Interest received on investments was Rs 12,000.

A company wants to invest Rs 50,000 for 2 years in a Fixed Deposit Scheme that offers an interest rate of 7% per annum compounded annually. Name the financial function used to calculate the future value of the investment. Write the syntax of the function and apply the formula to the data given, considering that :

(i) instalment is paid in the beginning of each period, and
(ii) instalment is paid at the end of each period.

Pass necessary journal entries in the books of Grace Ltd. for the issue of debentures in the following cases :

(i) Issued 4,000, 7% Debentures of Rs 100 each at a discount of 5%, redeemable at a premium of 10% after 6 years.
(ii) Issued 6,000, 9% Debentures of Rs 100 each at a premium of 10%, redeemable at a premium of 5% after 6 years.

The Capital Accounts of Ishita and Preeti stood at Rs 6,00,000 and Rs 8,00,000 respectively, after the necessary adjustments in respect of drawings and net profits for the year ended 31st March, 2025. It was later discovered that interest on drawings @ 6% p.a. was not taken into account while calculating the net profit. The drawings of the partners had been : Ishita Rs 10,000 drawn at the end of each quarter and Preeti Rs 4,000 drawn at the end of each half year. The profits for the year ended 31st March, 2025 amounted to Rs 3,00,000. The profit sharing ratio of Ishita and Preeti was 2 : 1.

Pass the necessary adjustment entry. Show your working clearly.

Mitali, Reena and Ishaan were partners in a firm, sharing profits and losses in the ratio of 3 : 2 : 1. Reena died on 30th June, 2022. After all the necessary adjustments, her Capital Account showed a credit balance of Rs 3,82,000. Reena's executors were paid Rs 82,000 cash on 1st July, 2022 and the balance amount to be paid in three equal yearly instalments starting from 30th June, 2023 with interest @ 6% p.a. on the unpaid amount. The firm closes its books on 31st March every year.

Prepare Reena's Executor's Account till 31st March, 2024.

Manya Ltd. issued 7,000, 9% Debentures of Rs 100 each at Rs 97 per debenture. On issue of these debentures, 9% Debentures Account was credited by :

Neena, Aman and Vipul were partners in a firm, sharing profits and losses in the ratio of 7 : 2 : 1. Vipul's share of profit at the end of the year amounted to Rs 1,50,000. Aman's share in the profit was :

Narmada Ltd. was registered with a capital of Rs 5,00,00,000 divided into 50,00,000 equity shares of Rs 10 each. On 1st April, 2025, the company offered to the public for subscription, 6,00,000 shares. Applications for 5,94,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 8,000 shares failed to pay the second and final call of Rs 2 per share.

Answer the following questions on the basis of the above information :

When does RATE function return #NUM! error ? Explain its syntax and significance.

From the following particulars of Prateek Ltd., calculate the 'Cash Flows from Investing Activities'. Show your working clearly :

Additional information :

(i) A machine having a book value of Rs 1,80,000 was sold for Rs 1,65,000.
(ii) Depreciation charged on the machine during the year was Rs 50,000.
(iii) Investments costing Rs 80,000 were purchased and some investments were sold at a profit of Rs 6,000.
(iv) Interest received on investments was Rs 10,000.

Pass necessary journal entries in the books of Style Ltd. for the issue of debentures in the following cases :

(i) Issued 3,000, 9% Debentures of Rs 100 each at a discount of 5%, redeemable at a premium of 5% after 6 years.
(ii) Issued 5,000, 8% Debentures of Rs 100 each at a premium of 5%, redeemable at a premium of 10% after 6 years.

Madhur, Alok and Tushar were partners in a firm, sharing profits and losses in the ratio of 2 : 1 : 1. Alok died on 30th June, 2022. After all the necessary adjustments, his Capital Account showed a credit balance of Rs 9,70,000. Alok's executors were paid Rs 70,000 cash on 1st July, 2022 and the balance amount to be paid in three equal yearly instalments starting from 30th June, 2023 with interest @ 6% p.a. on the unpaid amount. The firm closes its books on 31st March every year.

Prepare Alok's Executor's Account till 31st March, 2024.

Sara, Lalit and Divya were partners in a firm, sharing profits and losses in the ratio of 5 : 3 : 2. Sara's share of profit at the end of the year amounted to Rs 2,50,000. Divya's share in the profit was :

The Capital Accounts of Nita and Ansh stood at Rs 4,00,000 and Rs 5,00,000 respectively, after the necessary adjustments in respect of drawings and net profits for the year ended 31st March, 2025. It was later discovered that interest on drawings @ 6% p.a. was not taken into account while calculating the net profit. The drawings of the partners had been : Nita Rs 20,000 drawn at the beginning of each quarter and Ansh Rs 8,000 drawn at the beginning of each half year. The profits for the year ended 31st March, 2025 amounted to Rs 2,00,000. The profit sharing ratio of Nita and Ansh was 1 : 1.

Pass the necessary adjustment entry. Show your working clearly.

Roshni Ltd. issued 6,000, 8% Debentures of Rs 100 each at Rs 96 per debenture. On issue of these debentures, 8% Debentures Account was credited by :

Brahma Ltd. was registered with a capital of Rs 4,00,00,000 divided into 40,00,000 equity shares of Rs 10 each. On 1st April, 2025, the company offered to the public for subscription 5,00,000 shares. Applications for 4,95,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 10,000 shares failed to pay the second and final call of Rs 2 per share.

Answer the following questions on the basis of the above information :

A business' data needs to be guarded from its competitors. Explain any two features of Computerised Accounting System that help a business to maintain its secrecy.

Explain any three advantages of conditional formatting in Computerised Accounting System.

Explain the use of the PV (Present Value) function in Computerised Accounting. How is it applied in MS Excel to calculate the present value of future payments ? Write the formula to calculate present value of Rs 20,000 paid annually for the repayment of a loan for 10 years at an interest rate of 9%.

'LABELS' in MS Excel means :

Internal margins are the distance between the text and the border of a chart element. Discuss various options available to increase or decrease these margins.

Explain 'Chart of Accounts' in accounting software.

From the following, identify the chart that displays data in rings, where each ring represents a data series :

How many auto-formatting styles are available in MS Excel 2007 to give a spreadsheet a professional look ?