CBSE Sample Paper 12 2020-21 Accountancy

Half Yearly Examination (2020-21)


Time: 3:00 hour                             Sub- Accountancy                                                M.M.-80

All questions are compulsory.


Ques. 1 to 13 and Ques. 23 to 29 carry 1 mark each

Ques. 14 and Ques. 30 carry 3 marks each

Ques. 15 to 18 and Ques. 31 carry 4 marks each

Ques. 19 to 30 and Ques. 32 carry 6 marks each

Ques. 21 and 22 carry 8 marks each.

  1. How will u calculate the closing cash balance of current year?
  2. Would a charitable dispensary run by 8members be deemed a partnershipfirm?Give reason
  3. Calculate interest on drawings of Reena @ 10%pa for the year ended 31.12.2020 if amount withdrawn Rs 750 in the beginning of each quarter.
  4. P Q and R are partners in a firm sharing profit in the ratio of 2:3:5 the firm earned a profit of Rs 75000for the year ended 31.12.2020.the profit by mistake credited in ratio of 24:36:60.pass journal entry to rectify error.
  5. Give formula for calculation of sacrificing ratio.
  6. Why are asset revalued at the time of admission of partner?
  7. Give journal entry for distribution of profit at the time of dissolution of firm.
  8. State any two items of deduction that may have been made at the time of retirement from capital A/c.
  9. Provision for workmen compensation reserve is astatutory liability.T/F
  10. Loan of Rs 10000 advanced by partner to the firm on dissolution of the firm. Pass journal entry
  11. Nature of receipt a/c is (A) nominal (B) personal (c) real
  12. Why receipt and payment account is also known as cash trial?
  13. A andB arepartners in a firm. C is admitted in a firm and the new profit sharing ratio between A B and C is 1:2:2. If the sacrificing ratio of A & B is 4:1.calculate old profit sharing ratio.
  14. What amount will be transferred to Income and expenditure Account with respect to stationery?

Stock of stationery in hand as on 01.01.17                Rs 300

Payment made for stationery during year               Rs 1080

Stock of stationery on 31.12.17                                   Rs 50

Creditors for stationery outstanding on 01.01.17     Rs 200

  1. X Y & Z are partners sharing profits and losses in the ratio of 5:3:2. They decided to share future profits and losses in the ratio of 2:3:5.with effect from 01.04.2020.they also decided to record the effect of following revaluation without affecting book value of the assets and liabilities by passing a single adjustment entry.
Particular Book Value Market Value
Land and building 100000 150000
Plant and machinery 150000 140000


Trade creditors 50000 45000
Outstanding Expenses 45000 60000
  1. Write any four items that will be debited and credited to partner capital a/c at the time of his retirement.
  2. Pass journal entries at the time of dissolution of firm in following cases
  • Partner p agreed to pay a creditor Rs 7500
  • Bank loan Rs. 34000 was paid.
  • Furniture worth Rs. 70000 was taken over by partner Z at Rs. 43000.
  • Loss on realization Rs. 4800 was distributed between T & P in 5:3
  1. Write any four points on difference between Realization A/c and Revaluation A/c.
  2. A B & C were partners in a firm. Their capital on 01.01.201 were Rs. 500000, 600000 and 700000 respectively. Partnership deed provides
  • A will be allowed a commission of Rs 25000
  • PSR will be equal
  • Interest on capital @ 10% pa
  • Drawing were Rs 70000, 60000, 50000 respectively
  • Profit earned during year Rs. 1200000

Prepare profit & loss appropriation A/c and partner capital A/c.

  1. From the following information calculate amount of sports material consumed during year

Balance of SM as on 01.04.2020                        20000

Balance of SM as on 31.03.2021                        15000

Creditors of SM as on 01.04.2020                     40000

Creditors of SM as on 31.03.2021                     45000

Payment made to creditors during year                   200000

  1. A and B are partners sharing profit and losses in the ratio of 3:2. Their balance sheet as at 31.03.2014 was
Liabilities Amount Assets Amount
Bills Payable 50000 Building 80000
Creditors 70000 Plant & Machinery 80000


Reserve 60000 Stock 40000
A Capital A/c 200000 Debtors 130000
B capital A/c 300000 Cash 150000
480000 480000

From 01.04.2014 profit sharing ratio will be 2:1. For this purpose it was agreed that

  • Creditors amounted Rs 3000 are no longer required to be paid.
  • Building should be revalued at Rs. 120000
  • Provision @ 10% to be made for Debtors
  • Goodwill of the firm be valued at Rs. 90000

Pass journal entries, prepare capital A/c s and Balance sheet of reconstituted firm.

  1. Prepare accounting extracts in each of the following individual cases at the time of dissolution
  • Goodwill shown In Balance sheet at the time of dissolution Rs100000. No amount realized.
  • Investment booked at Rs 80000 and investment fluctuation reserve created Rs 20000.
  • Creditors booked at 300000 and paid 250000 in full settlement.
  • Workmen compensation reserve existed at Rs. 300000. No liability claimed.
  1. Receipt A/c will be prepared on daily basis T/F
  2. Give journal entries in case of Interest on capital when partner capital A/c is fixed.
  3. Why Goodwill is considered an intangible asset but not a fictitious asset?
  4. Name any two methods of goodwill Valuation.
  5. Under which of the following method of goodwill valuation normal rate of return is not considered?
  • Super profit method
  • Capitalization method
  • Average profit Method
  • None of the Above
  1. Give nature of Partner Capital A/c with reason.
  2. Profit on dissolution on firm will be debited to partner capital A/c in old profit sharing ratio.T/F
  3. Write three adjustment required at the time of death of partner in the books of firm.
  4. Give accounting treatment in each of the following cases on NPO

Honorarium charges paid Rs.5000

Specific Donation Received Rs 200000

Tournament Fund created by sports club 300000

Tournament expenses Rs320000

Prepare Extracts as per requirement.

  1. From the following cash transactions relating to Royal club, Prepare income and expenditure A/c for the year ended 31.0.2014 and balance sheet as at that date.
Receipts Amount Payment Amount
To cash in Hand on 01.04.2013 4900 By salaries 20100
To subscription(include  RS 800 for next year) 52100 By Travelling Expenses 8600
To Donation 6000 By Stationery 1720
To proceed of show 16200 By repair 16600
To Sale of furniture ( Book Value 4000) 1600 By rent 450
To life Membership fees 9000 By building Purchased 300000
To interest on investment(cost 48000) 4800 By Government Bonds 5000
To Sale of old car 20000 By Balance c/d on 31.03.2014 32130
114600 114600


Other information

On 01.04.2013 club had Land and Building Rs 40000, Furniture Rs. 1050. No of members in club were 150 and subscription charged @ 100 each car Rs. 25000. Subscription outstanding on 31.03.2013 and 31.03.2014 were Rs 3400 and Rs. 2000 respectively. Similarly interest on investment due in the beginning was Rs 800 and at the end was Rs. 1000.


  1. 2

Srijan, Raman and Manan were partners in a firm sharing profits and losses in the ratio of 2: 2: 1. On 31 March, 2017 their Balance Sheet was as follows:

Balance Sheet of Srijan, Raman and Manan as on 31.03.2017

Liabilities Amount (Rs.) Assets Amount (Rs.)

Srijan            2,00,000

Raman          1,50,000


Bills Payable

Outstanding Salary









Capital: Manan






Profit & loss account









 On the above date they decided to dissolve the firm.

  1. Srijan was appointed to realise the assets and discharge the liabilities. Srijan was to receive 5% commission on sale of assets (except cash) and was to bear all expenses of realisation.
  2. Assets were realised as follows:


Plant                    85,000

Stock                    33,000

Debtors               47,000

  • Investments were realised at 95% of the book value.
  1. The firm had to pay 7,500 for an outstanding repair bill not provided for earlier.
  2. A contingent liability in respect of bills receivable, discounted with the bank had also and had to be discharged for 15,000.


  1. Realiation A/c
  2. Bank Account
  3. Partner capital account
  4. Real exp- 3000
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