AHSEC Class 12 Accountancy Question Paper 2026 [AHSEC Class 12 Accountancy Question Papers]

ACCOUNTANCY Question Paper 2026
AHSEC Class 12 Accountancy Question Papers

(For New Course Students)

Full Marks: 80

Pass Marks: 24

Time: Three hours

Q. No. 1 (a) ... 1x4 = 4

Q. No. 1 (b) ... 1x2 = 2

Q. No. 1 (c) ... 1x2 = 2

Q. Nos. 2-7 carry 2 marks each... 2x6 = 12

Q. Nos. 8-11 carry 3 marks each... 3x4 = 12

Q. Nos. 12-15 carry 6 marks each... 6x4 = 24

Q. Nos. 16-18 carry 8 marks each... 8x3 = 24

Total = 80

The figures in the margin indicate full marks for the questions.

1. (a) Fill in the blanks with appropriate word/words (any four): 1*4 = 4

(i) Current ratio is a kind of ________ ratio.

(ii) The goodwill that is attached to the owner of the business is called ________.

(iii) The premium for goodwill brought in by the new partner is shared by existing partners in ________ ratio.

(iv) ________ is also known as position statement.

(v) Debenture holders are the ________ of the company.

(b) State whether the following statements are 'True' or 'False': 1*2=2

(i) Closing stock is valued at cost price or market price whichever is lower.

(ii) Equity shareholders get return on their capital in the form of interest.

(c) Choose the correct alternative: 1*2=2

(i) The maximum amount of share capital that can be offered by a company to public is called:

(1) authorized capital

(2) issued capital

(3) subscribed capital

(4) paid-up capital

(ii) Working Capital is equal to:

(1) Current Assets

(2) Current Liabilities

(3) Current Assets - Current Liabilities

(4) None of the above

2. What is partnership deed? [2]

3. Write two differences between equity shares and preference shares. [2]

4. State two situations when a partnership firm is dissolved. [2]

OR

What is the difference between dissolution of partnership and dissolution of partnership firm?

5. What is meant by calls-in-arrears? [2]

OR

State two features of computerized accounting system.

6. What do you mean by buy-back of shares? [2]

OR

What is an Accounting Information System?

7. Write the meaning of 'cash flow from financing activities'. [2]

OR

What is an electronic spreadsheet?

8. Akash and Bikash are partners in a firm sharing profits and losses equally. They admit Prakash as a new partner for 1/4th share in the future profits and losses. Calculate the new profit-sharing ratio. [3]

OR

Why is goodwill valued at the time of admission of a partner?

9. Write any three objectives of financial statement analysis. [3]

OR

Current ratio of a firm is 4:3 and working capital is 60,000. Calculate current assets and current liabilities.

OR

Write three differences between data validation and data verification.

10. Ganga Ltd. purchased assets from Yamuna Ltd. for 6,60,000. The purchase consideration was discharged by issue of equity shares of 10 each at a premium of 10%. Journalize the above transactions in the books of Ganga Ltd. [3]

OR

Write the meaning of issue of debentures as collateral security.

OR

Write three limitations of computerized accounting system.

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12.AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2024

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14.AHSEC CLASS 12 ACCOUNTANCY QUESTION PAPER 2026

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11. Distinguish between Profit & Loss Account and Profit & Loss Appropriation Account. [3]

OR

Distinguish between sacrificing ratio and gaining ratio.

12. Prepare a Comparative Income Statement of Jorhat Ltd. from the following particulars: [6]

Particulars	2023 (₹)	2024 (₹)
Sales	40,000	50,000
Cost of Goods Sold	30,000	35,000
Wages Paid	16,000	14,000
Operating Expenses	2,500	3,000
Other Incomes	2,000	3,000
Income Tax	4,750	7,500

OR

Explain the importance of financial statements.

OR

Explain the structure of Computerized Accounting System.

13. Pass Journal Entries in the books of Anand Ltd. for issue of 8% debentures under the following situations: (2+1+1+2 = 6)

(i) 1000 Debentures of 100 each issued at 10% premium, repayable after 5 years at 10% premium

(ii) 2000 Debentures of 100 each issued at a discount of 10%, repayable after 5 years at par

(iii) 1500 Debentures of 100 each issued at par, repayable after 5 years at 10% premium

(iv) 2500 Debentures of 100 each issued at a discount of 10%, repayable after 5 years at 10% premium

OR

Explain the various methods of redemption of debentures. [6]

OR

Explain the applications of electronic spreadsheet in various accounting activities.

14. Anurag, Birag and Chirag were partners sharing profits and losses in the ratio of 3: 2: 1. Their Balance Sheet as on 31-03-2024 was as follows:

Balance Sheet

Liabilities	(₹)	Assets	(₹)
Creditors	30,000	Cash at Bank	10,000
General Reserve	12,000	Debtors: 40,000
Capital:		(-) Provision: (2,000)	38,000
Anurag: 50,000		Stock	30,000
Birag: 40,000		Furniture	20,000
Chirag: 30,000	1,20,000	Machinery	64,000
Total	1,62,000	Total	1,62,000

Birag retires from the firm on 01-04-24 on the following terms:

(i) Goodwill of the firm is valued at 24,000

(ii) Machinery is to be depreciated by 10% and Furniture by 20%

(iii) Provision for Doubtful Debt is to be increased by 1,000

(iv) Birag's Capital is to be transferred to his Loan Account

(v) The new profit-sharing ratio between Anurag and Chirag will be 3: 2

Pass Journal Entries relating to the above transactions. [6]

OR

Explain how the amount due to a deceased partner is ascertained.

15. Gayatri, Harshita and Isha were partners sharing profits and losses in the ratio of 5: 4: 3. Their Balance Sheet as on 31-03-24 was as follows:

Balance Sheet

Liabilities	(₹)	Assets	(₹)
Creditors	20,000	Cash at Bank	20,000
Bills Payable	10,000	Debtors	40,000
Capital:		Stock	30,000
Gayatri: 70,000		Furniture	25,000
Harshita: 50,000		Machinery	30,000
Isha: 40,000	1,60,000	Building	45,000
Total	1,90,000	Total	1,90,000

They decided to dissolve the firm on the above date with the following transactions:

(i) Debtors realized 38,000

(ii) Stock was sold for 27,000

(iii) Machinery realized 29,000

(iv) Furniture was taken over by Harshita for 23,000

(v) Creditors were paid off at a discount of 1,000

(vi) Bills payable was settled at 500 less

(vii) Dissolution expenses amounted to 1,000, paid by Gayatri on behalf of the firm

Close the books of the firm by preparing a Realization Account, Partners' Capital Accounts and Bank Account. [6]

Or

What is realisation account? How is it prepared? How does it differ from revaluation account?

16. Vijay Ltd. issued 4,000 equity shares of 100 each at par, payable as follows:

On application - ₹ 30

On allotment - ₹ 30

On first call - ₹ 20

On final call - ₹ 20

The shares were fully subscribed. All money was called up and received except:

(i) First call and final call money from Rima, holding 100 shares.

(ii) Final call money from Sima, holding 50 shares.

All these shares were forfeited and reissued as fully paid-up at a 10% discount. Pass necessary Journal Entries in the books of Vijay Ltd. [8]

OR

Write the meaning of the following: [8]

(a) Capital reserve

(b) Calls in advance

(c) Forfeiture of shares

(d) Pro rata allotment of shares

OR

Explain the procedure for creating and customizing various types of charts in MS-Excel. [8]

17. Bandita and Dixita were partners sharing profits and losses in the ratio of 4:3. Their Balance Sheet as on 31-03-24 was as follows:

Balance Sheet

Liabilities	(₹)	Assets	(₹)
Creditors	30,000	Cash at Bank	10,000
Bills Payable	15,000	Debtors	30,000
Capital:		Stock	30,000
Bandita: 70,000		Furniture	25,000
Dixita: 50,000	1,20,000	Machinery	70,000
Total	1,65,000	Total	1,65,000

Chitra is admitted into the partnership on 01-04-2024 on the following terms: [8]

(i) Chitra will bring 50,000 as Capital and 10,000 as premium for Goodwill

(ii) The new profit-sharing ratio will be 5:3:2 for Bandita, Dixita and Chitra

(iii) Stock to be revalued at 27,000 and Machinery to be depreciated by 10%

(iv) A Provision for Doubtful Debt is to be created at 5% on Debtors

(v) Creditors are overvalued by 2,000

Prepare the following: 8

(a) Revaluation Account

(b) Partners' Capital Accounts

(c) New Balance Sheet after Chitra's admission

OR

(a) Write any four duties of a partner. 4

(b) Distinguish between Fixed Capital Account and Fluctuating Capital Account. 4

18. Arup and Swarup were partners in a firm sharing profits and losses in the ratio of 3: 2. The Trial Balance of the firm as on 31-03-24 was as follows: [8]

Trial Balance

Debit	(₹)	Credit	(₹)
Machinery	35,000	Capital:
Salaries	15,850	Arup	50,000
Freight on Sales	2,140	Swarup	30,000
Building	54,000	Trading A/c (Gross Profit)	80,200
Goodwill	15,000	Creditors	31,560
Furniture	10,000	Bank Loan	21,000
Sundry Debtors	48,200	Sundry Receipts	1,000
Bad Debts	1,400	Commission	1,000
Cash at Bank	1,200	Outstanding Wages	200
Investment	10,000	Provision for Doubtful Debts	1,000
Cash in Hand	170
Stock	10,000
Drawings:
Arup	5,000
Swarup	3,000
Advertisement	5,000
Total	2,15,960	Total	2,15,960

Prepare Profit & Loss Account and Profit & Loss Appropriation Account of the firm for the year ended 31-03-24 and a Balance Sheet as at that date after taking into consideration of the following adjustments:

Adjustments:

(i) Outstanding Salary: ₹ 1,000

(ii) Prepaid Advertisement: ₹ 500

(iii) Depreciate Machinery by 10% p.a.

(iv) Commission received in advance: ₹ 200

(v) Provision for Doubtful Debts @ 5% on Sundry Debtors

(vi) Allow interest on partners' capital @ 5% p.a.

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