List of top Accountancy Questions asked in CBSE CLASS XII

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 any three advantages of conditional formatting in Computerised Accounting System.

Which of the following is not a feature of customised accounting software ?

Which window will be used to change the system period on the screen in Tally from the following ?

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 ?

Name the voucher which does not affect the accounts of the user.

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

Additional Information :

(i) A machine having a book value of Rs 1,40,000 was sold for Rs 1,10,000.
(ii) Depreciation charged on the machine during the year was Rs 40,000.
(iii) Investments costing Rs 90,000 were purchased and some investments were sold at a profit of Rs 8,000.
(iv) Interest received on investments was Rs 8,000.

From the following information calculate :

(i) Debt Equity Ratio
(ii) Debt to Capital Employed Ratio

Equity Share Capital Rs 8,00,000; Preference Share Capital Rs 2,50,000; General Reserve Rs 90,000; Surplus i.e. Balance in Statement of Profit and Loss Rs 60,000; Non-Current Liabilities Rs 6,00,000; Current Liabilities Rs 2,00,000; and Current Assets Rs 4,00,000.

From the following information, calculate 'Return on Investment (ROI)' :

Net Profit after Interest and Tax Rs 7,00,000; Current Assets Rs 6,00,000; Current Liabilities Rs 2,00,000; Tax Rate 30%; Non-Current Assets Rs 21,00,000; and 10% Long-term Debt Rs 20,00,000.

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 :

(i) Unclaimed dividend
(ii) Vehicles
(iii) Prepaid insurance

Statement I : Separate disclosure of cash flows arising from financing activities is important because it is useful in predicting claims on future cash flows by providers of funds (both capital and borrowings) to the enterprise.

Statement II : Financing transactions that do not require the use of cash or cash equivalents should be included in a cash flow statement.

Choose the correct option from the following :

From the following Statement of Profit and Loss of Horizon Ltd., for the year ended 31st March, 2025, prepare a Common Size Statement of Profit and Loss :

The Quick Ratio of Seerat Ltd. is 2 : 1. Which of the following transactions will reduce the quick ratio ?

Rajat and Vidhi were partners in a firm, sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2025 was as follows :

Balance Sheet of Rajat and Vidhi as at 31st March, 2025

Nitin was admitted as a partner into the firm on 1st April, 2025 on the following terms :

(i) Nitin brought Rs 3,20,000 as his capital and Rs 1,00,000 as his share of goodwill premium, for 1/4th share in the profits of the firm. Rajat and Vidhi withdrew 50% of their share of goodwill.
(ii) Plant and Machinery was revalued at Rs 6,27,000.
(iii) Furniture was found overvalued by 10%.
(iv) A provision for doubtful debts was created @ 5% on debtors.
(v) Creditors were valued at Rs 40,000, as one bill for goods purchased was omitted from the books.

Prepare Revaluation Account and Partners' Capital Accounts.

Abha, Binita and Rita were partners in a firm, sharing profits and losses in the ratio of 3 : 3 : 4. Their Balance Sheet as at 31st March, 2025 was as follows :

Balance Sheet of Abha, Binita and Rita as at 31st March, 2025

Rita retired on the above date and the following adjustments were agreed upon :

(i) Goodwill of the firm was valued at Rs 2,00,000.
(ii) Valued of stock was reduced by Rs 10,000.
(iii) Provision for doubtful debts was created @ 5% on debtors.
(iv) Provision for legal charges was made at Rs 7,500.
(v) Capital of the new firm was fixed at Rs 10,00,000. The continuing partners decided to keep their capitals in the new profit sharing ratio. For this, necessary cash was paid off or brought in, as the case may be.
(vi) Balance in Rita's capital account was transferred to her loan account.

Prepare Revaluation Account and Partners' Capital Accounts.

Which of the following is a financing activity for the purpose of preparing a cash flow statement ?

The tool of analysis of financial statements which indicates the trend and direction of financial position and operating results is :

The statement which expresses all items of a financial statement as a percentage of some common base is :

Which of the following transactions will result in the cash flows from operating activities ?

Dhruv, Ravi and Saurabh were partners in a firm, sharing profits and losses in the ratio of 2 : 3 : 3. With effect from 1st April, 2025, they decided to share future profits and losses in the ratio of 3 : 3 : 2. Their Balance Sheet as at 31st March, 2025 was as follows :

Balance Sheet of Dhruv, Ravi and Saurabh as at 31st March, 2025

The following terms were agreed upon :

(i) The value of stock be reduced to Rs 1,30,000.
(ii) Land and Building were found undervalued by Rs 96,000.
(iii) A provision of 5% on sundry debtors was to be made for doubtful debts.
(iv) The goodwill of the firm was valued at two years purchase of average net profits of last four years. The profits of last four years were Rs 46,000, Rs 35,000, Rs 39,000 and Rs 40,000, respectively.

Pass necessary journal entries for the above transactions in the books of the firm. Show your working clearly.

Alpha Ltd. invited applications for issuing 90,000 equity shares of Rs 100 each at a premium of 10%. The amount was payable as follows :

On Application - Rs 20 per share
On Allotment - Rs 30 per share
On First and Final Call - Balance (including premium)

Applications for 1,20,000 shares were received. Applications for 10,000 shares were rejected and the application money was refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received on application was adjusted towards the amount due on allotment. Anant, who had applied for 1,100 shares failed to pay the allotment and the first and final call money. Mehak, to whom 900 shares were allotted failed to pay the first and final call. Anant's shares were forfeited.

Pass necessary journal entries for the above transactions in the books of Alpha Ltd.. Open 'Calls in Arrears Account', wherever necessary.

Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases :

(i) Dharma Ltd. forfeited 600 shares of Rs 100 each, Rs 80 per share called up, issued at 10% premium (to be paid at the time of allotment) for non-payment of first call of Rs 20 per share. Out of these, 300 shares were reissued as Rs 80 paid up for Rs 60 per share.
(ii) Vikram Ltd. forfeited 1,000 shares of Rs 10 each issued at a premium of Rs 2 per share for non-payment of allotment money of Rs 4 per share (including premium) and first call of Rs 3 per share. The second and final call of Rs 1 per share was not made. The forfeited shares were reissued at Rs 7 per share fully paid up.

Pass necessary journal entries for the following transactions on the dissolution of the firm of Sanya and Manya after various assets (other than cash) and external liabilities have been transferred to Realisation Account :

(i) Machinery of the book value of Rs 90,000 was sold for Rs 1,00,000 through a broker who charged 4% commission.
(ii) Stock was worth Rs 52,000 out of which stock worth Rs 42,000 was taken over by Sanya at Rs 45,000 and the balance of the stock was sold for Rs 11,000.
(iii) Debtors of Rs 23,000 were sold to a debt collection agency who charged commission of Rs 1,500.
(iv) Furniture of Rs 49,000 was accepted by Manya against settlement of her loan of Rs 55,000.

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

(i) Issued 7,000, 10% Debentures of Rs 100 each at a discount of 5%, redeemable at a premium of 10% after 6 years.
(ii) Issued 8,000, 11% Debentures of Rs 100 each at a premium of 10%, redeemable at a premium of 5% after 6 years.