List of top Questions asked in KSEAB Class XII- 2026

From the following particulars, prepare statement of profit and loss for the year ended 31.03.2025 as per Schedule III of Companies Act, 2013 :
LG Company Limited earned a net profit of ₹ 7,00,000 for the year ended 31.03.2025. Depreciation for the year is ₹ 1,50,000. There was a profit of ₹ 60,000 on assets sold which was transferred to statement of profit and loss.
Trade receivables decreased during the year by ₹ 55,000 and trade payables also decreased by ₹ 45,000.
Compute cash flow from operating activities by indirect method.
Govind and Sudeep are partners sharing profits and losses in the ratio of \(3 : 1\) respectively. Their Balance sheet as on 31.03.2025 is as follows :
Balance Sheet as on 31.03.2025
On 01.04.2025, they admitted Tarun into partnership on following terms :
a) Tarun should bring in ₹ 30,000 as capital for \(1/5^{\text{th}}\) share and ₹ 10,000 towards goodwill [As per A.S. -- 26].
b) Goodwill amount is withdrawn by old partners.
c) Depreciate furniture at 5%.
d) Appreciate building value by 10%.
e) Machinery revalued at ₹ 27,000.
Prepare :
i) Revaluation Account,
ii) Partners' Capital Accounts and
iii) New Balance Sheet of firm on 01.04.2025.
Anitha and Sunitha are equal partners. Their Balance Sheet on 31.03.2025 is as under :
a) Assets realised as follows :
Debtors ₹ 30,000 ; Bills Receivable ₹ 12,000 ; Computers ₹ 25,000 ; Machinery ₹ 45,000 ; Land ₹ 85,000 ; and Unrecorded investment ₹ 3,000
b) Liabilities are paid in full.
c) Cost of dissolution amounted to ₹ 6,000.
Prepare :
i) Realisation Account,
ii) Partners' Capital Accounts and
iii) Bank Account.
Supreme Company Limited issued 10,000 equity shares of ₹ 100 each at a premium of ₹ 10 per share. The amount payable is as follows :
On application ₹ 20
On allotment ₹ 50 (including premium)
On first and final call ₹ 40.
All the shares were subscribed and money duly received except the first and final call on 500 shares.
The directors forfeited these shares and re-issued them as fully paid-up at ₹ 80 per share.
Pass the necessary journal entries regarding issue, forfeiture and re-issue of shares.
Expand R.O.I.
State any two differences between fixed capital method and fluctuating capital method.
Mention any two modes of disposal of amount due to retiring partner.
Give the meaning of over subscription.
Name the two types of financial statements.
Write any two examples for financing activities.
Ravi and Kiran commenced partnership business on 01.04.2024 with capitals of ₹ 1,50,000 and ₹ 1,00,000 respectively. Their profit sharing ratio is \(3 : 2\) respectively.
They earned a profit of ₹ 50,000 for the year, before allowing :
a) Interest on capital at 10% per annum.
b) Interest on drawings : Ravi ₹ 4,000 and Kiran ₹ 2,000.
c) Commission payable to Ravi ₹ 3,000 per annum.
d) Salary payable to Kiran ₹ 8,000 per annum.
Prepare Profit and Loss Appropriation Account for the year ended 31.03.2025.
Loans which are repayable within ________ months, are called as short-term borrowings.
Common Size Statement is also known as ________ analysis.
Match the items in Column A with the correct corresponding items in Column B:
Column A:
a) Valuation of goodwill
b) Debentures
c) Revenue from operations
d) Profitability Ratio
e) Cash flow statement
Column B:
i) Acknowledgement of debt
ii) Earnings per share
iii) Inflows and Outflows of cash
iv) Average profit method
v) Sales
vi) Financial position
Profit or loss on revaluation is transferred to all partners' capital accounts in case of retirement of a partner. [State True/False]
State any one type of shares.
What do you mean by Redemption of debentures?
State any one user of Financial Statement Analysis.
A, B and C are partners sharing profits in the ratio of \(5 : 3 : 2\). If C retires, the New Profit Sharing Ratio between A and B will be :
Unrecorded liabilities, when paid are shown in
Issued capital is a part of :
Following is an extraordinary item :
Fill in the blank by choosing the appropriate answer from the choices:
6. Partnership comes into existence as a result of ________ among the partners.
Old Ratio \(-\) New Ratio = ________ Ratio.