HSC Commerce (English Medium)
HSC Arts (English Medium)
HSC Commerce: Marketing and Salesmanship
Academic Year: 2024-2025
Date: मार्च 2025
Advertisements
Death is a compulsory ______.
Dissolution
Admission
Retirement
Winding-up
Chapter: [0.05] Reconstitution of Partnership (Death of Partner)
Not for Profit Concern renders __________ services to public at large.
Commercial
Social
Individual
Group
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns [0.05] Accounts of “Not for Profit” concerns
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ____________.
23rd Jan. 2020
25th Jan. 2019
26th Jan. 2019
25th Jan. 2020
Chapter: [0.07] Bills of Exchange
Income and Expenditure Account is a ________ Account.
Capital account
Real account
Personal account
Nominal account
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns
As per SEBI guidelines minimum amount payable on share application should be ___________ of Nominal Value of shares.
10%
15%
2%
5%
Chapter: [0.08] Company Accounts - Issue of Shares [0.08] Company Accounts
Answer in one sentence only.
What is Fluctuating Capital?
Chapter: [0.01] Introduction to Partnership and Partnership Final Accounts [0.01] Introduction to Partnership
Answer in one sentence only.
Why Income and Expenditure Account is prepared?
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns
How is Gain Ratio calculated?
Chapter: [0.04] Reconstitution of Partnership (Retirement of Partner)
What is outstanding expenses?
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns
Advertisements
Find odd one.
Wages
Salary
Royalty
Import Duty
Chapter: [0.01] Introduction to Partnership and Partnership Final Accounts [0.02] Partnership Final Accounts
Find the odd one:
Contra
Payment
Receipt
Expense
Chapter: [0.1] Computer in Accounting
Find odd one.
Discount received
Dividend received
Interest received
Depreciation.
Chapter: [0.01] Introduction to Partnership and Partnership Final Accounts [0.02] Partnership Final Accounts
Find the Odd one.
The decrease in Furniture
Patents written off
Increase in Bills Payable
RDD written off
Chapter: [0.03] Reconstitution of Partnership (Admission of Partner) [0.03] Reconstitution of Partnership
Find the Odd one.
Super profit method
Valuation method
Average profit method
Fluctuating capital method
Chapter: [0.03] Reconstitution of Partnership (Admission of Partner) [0.03] Reconstitution of Partnership
In case of non-agreement; Loan by Partner is ₹ 1,00,000/- calculate interest on loan to be given?
Chapter: [0.01] Introduction to Partnership and Partnership Final Accounts
Profit for 2015, 2016 & 2017 is ₹ 10,000, ₹ 15,000 & ₹ 25,000. Calculate average profit.
Chapter: [0.03] Reconstitution of Partnership (Admission of Partner) [0.03] Reconstitution of Partnership
1000 shares issued @10% Premium considering face value for ₹ 10/- Calculate Premium.
Chapter: [0.08] Company Accounts - Issue of Shares [0.08] Company Accounts
Current Assets: ₹ 1,00,000. Current Liabilities : ₹ 60,000. Calculate Current Ratio.
Chapter: [0.09] Analysis of Financial Statements [0.09] Analysis of Financial Statements
10% Depreciation on Furniture ₹ 12,000/- 3 Months
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns
Advertisements
Pravin and Kishor are partners sharing profits and losses in the ratio 3 : 2. Their Balance Sheet as on 31st March, 2019 was as under:
| Balance Sheet as on 31st March, 2019 | |||||
| Liabilities |
Amount
(₹)
|
Assets |
|
Amount
(₹)
|
|
| Creditors | 37,500 | Bank | 22,500 | ||
| Bills Payable | 30,000 | Bills Receivable | 11,400 | ||
| Bank Loans | 48,000 | Debtors | 62,400 | 60,000 | |
| General Reserve | 7,500 | Less: RDD | 2,400 | ||
| Capitals: | Stock | 36,000 | |||
| Pravin | 45,000 | 81,000 | Furniture | 14,100 | |
| Kishor | 36,000 | Machinery | 15,000 | ||
| Buildings | 45,000 | ||||
| 2,04,000 | 2,04,000 | ||||
On 1.04.2019 they admitted Asha on the following terms:
- For 1/2 share in profits in future, Asha will bring ₹ 30,000 for capital and ₹ 15,000 for goodwill.
- Half of the amount of goodwill is withdrawn by old partners.
- Stock is to be depreciated by 10% and Machinery by 5%.
- RDD is to be maintained at ₹ 3,000.
- Furniture be valued at ₹ 16,050 and Building be appreciated by 20%
Pass the necessary Journal entries in the books of the firm and prepare working notes.
Chapter: [0.03] Reconstitution of Partnership (Admission of Partner) [0.03] Reconstitution of Partnership
Given below is the Balance Sheet of Ram, Rani and Prashant who were partners In a firm sharing profits and losses in the ratio 5: 3: 2. Their Balance Sheet as on 31st March 2019 was as follows:
| Liabilities | Amount (₹) | Assets | Amount (₹) | |
| Creditors | 11,200 | Cash | 7,600 | |
| Bank Overdraft | 9,700 | Debtors | 18,000 | |
| Reserve Fund | 15,000 | Stock | 17,500 | |
| Capital A/c: | Machinery | 30,000 | ||
| Ram | 42,000 | 1,12,200 | Land | 70,000 |
| Rani | 37,000 | Furniture | 5,000 | |
| Prashant | 33,200 | |||
| 1,48,100 | 1,48,100 |
On 1st April 2018 Prashant retired on the following terms:
- Goodwill of the firm will be raised in the books at ₹ 20,000.
- Stock to be reduced by 10 %. Furniture by 5% and Machinery by 11%.
- RDD be maintained at 5% on debtors.
- ₹ 200 to be written off from Creditors.
- Out of the amount due to Prashant ₹ 5,000 to be paid by cash and remaining amount to be transferred to his loan account.
Prepare Revaluation Account, Partner's Capital Account, and Balance sheet of the new firm.
Chapter: [0.03] Reconstitution of Partnership [0.04] Reconstitution of Partnership (Retirement of Partner)
Riddhi and Siddhi are partners sharing profits and losses in the ratio of 2:1. The following is their balance sheet as on 31st March, 2019.
| Balance Sheet as on 31st March, 2019 | ||||
| Liabilities | Amount (₹) | Assets | Amount (₹) | |
| Capital A/c: | Building | 60,000 | ||
| Riddhi | 80,000 | Furniture | 24,000 | |
| Siddhi | 60,000 | Machinery | 20,000 | |
| Reserve Fund | 16,000 | Debtors | 17,600 | 16,000 |
| Siddhi's Loan A/c | 4,000 | Less: RDD | 1,600 | |
| Creditors | 30,000 | Stock | 40,000 | |
| Investment | 8,000 | |||
| Interest Receivable | 2,000 | |||
| Bank | 20,000 | |||
| 1,90,000 | 1,90,000 | |||
The firm was dissolved on 31st March 2019.
- The assets realised were: Machinery ₹ 22,000, Building ₹ 28,000, Stock ₹ 38,000 and Debtors ₹ 15,000.
- Riddhi took over the Investment at ₹ 10,000 and Furniture at book value.
- Siddhi agreed to accept ₹ 3,000 in full settlement of her Loan Account.
- Dissolution expenses amounted to ₹ 4,000.
- Interest receivable could not be recovered.
Prepare Realisation Account, Partners' Capital Account, Siddhi's Loan Account and Bank Account.
Chapter: [0.04] Dissolution of Partnership Firm [0.06] Dissolution of Partnership Firm
Journalise the following transactions in the books of Apoorva.
- Prashant’s acceptance for 60 days ₹ 12,750 deposited into bank for collection.
- Apoorva sold goods to Kirti for ₹ 20,000 and received her acceptance for the same amount for 2 months. The bill was endorsed to Rekha.
- Received 30% of the amount due from the private estate of Mukta who was declared insolvent. Mukta had dishonoured her acceptance of ₹ 23,850 and noting charges paid were ₹ 150.
- Apoorva renews her acceptance of ₹ 36,000 to Anuradha by paying cheque of ₹ 6,000 and accepting a new bill for 2 months for balance along with interest @ 14.5% p. a.
Chapter: [0.07] Bills of Exchange
The Subscribed Capital of Parag Limited is 30,000 equity shares of ₹ 100 each and 50,000 preference shares of ₹ 100 each. On both of these shares ₹ 80 per share were called-up.
The Directors forfeited 500 equity shares held by Ashish who failed to pay First and Second Call each of ₹ 20 per share. They also forfeited 500 preference shares of Ashok who failed to pay ₹ 20 per share on Allotment, ₹ 20 per share on First call and ₹ 20 per share on Second call.
The Director re-issued these forfeited shares of Ashish at ₹ 60 per share, ₹ 80 paid up and those of Ashok at ₹ 72 per share ₹ 80 paid up. All re-issued shares were taken up by Anagha.
Pass Journal entries to record the forfeiture and re-issue of shares in the books of Parag Ltd.
Chapter: [0.08] Company Accounts - Issue of Shares
Explain the importance of computerized accounting system.
Chapter: [0.1] Computer in Accounting
From the following balance sheets of Mr. Shubham as on 1st April. 2019 & 31st March 2020. Prepare the cash flow statement.
| Liabilities | 1st April 2019 (₹) |
31st March 2020 (₹) | Assets | 1st April 2019 (₹) | 31st March 2020 (₹) |
| Capital | 1,48,000 | 1,49,000 | Stock | 25,000 | 22,000 |
| Sundry Creditors | 36,000 | 41,000 | Debtors | 35,000 | 38,400 |
| Long Term Loan | 30,000 | 45,000 | Cash | 4,000 | 3,600 |
| Buildings | 50,000 | 55,000 | |||
| Machinery | 80,000 | 86,000 | |||
| Land | 20,000 | 30,000 | |||
| 2,14,000 | 2,35,000 | 2,14,000 | 2,35,000 |
Chapter: [0.09] Analysis of Financial Statements
Following is the balance sheet of Varad Company Ltd as on 31.03.2019 and 31.03.2020 is given as below:
| Liabilities | 31.3.2019 (₹) |
31.3.2020 (₹) |
Assets | 31.3.2019 (₹) |
31.3.2020 (₹) |
| Share Capital | 2,50,000 | 3,70,000 | Fixed assets | 3,50,000 | 5,70,000 |
| Reserve and Surplus | 60,000 | 1,00,000 | Investment | 1,20,000 | 1,70,000 |
| Secured Loans | 1,00,000 | 1,60,000 | Current Assets | 1,30,000 | 1,20,000 |
| Unsecured Loons | 90,000 | 1,40,000 | |||
| Current Liabilities | 1,00,000 | 90,000 | |||
| 6,00,000 | 8,60,000 | 6,00,000 | 8,60,000 |
You are required to prepare Comparative Balance Sheet of Varad Company Ltd. as on 31.03.2019 & 31.03.2020.
Chapter: [0.09] Analysis of Financial Statements
Following is the Receipts and Payments Account of Parnil Sports Club, Pune and additional information given below you are required to prepare Income and Expenditure Account for the year ended 31st March 2019 and a Balance Sheet as on that date.
| Dr. | Receipts and Payments Account for the year ended 31st March, 2019 |
Cr. | ||
| Receipts | Amount (₹) | Payments | Amount (₹) | |
| To Balance b/d | 5,000 | By Bank Overdraft (Repaid) | 32,000 | |
| To Subscriptions: | By Salaries | 10,000 | ||
| 2016-17 | 2,000 | 75,000 | By Electrical Charges | 4,000 |
| 2017-18 | 3,000 | By Municipal Taxes | 2,700 | |
| 2018-19 | 70,000 | By Purchase of Sports Materials | 50,000 | |
| To Donations | 15,000 | By General Expenses | 500 | |
| To Entrance fees | 1,700 | By Billiard Expenses | 3,000 | |
| To Life membership fees (Revenue) | 17,000 | By Repairs to Ground | 500 | |
| To Tournaments Receipts | 60,000 | By Tournaments Exp. | 50,000 | |
| By Balance c/d: | ||||
| Cash in Hand | 7,000 | |||
| Cash at Bank | 14,000 | |||
| 1,73,700 | 1,73,700 | |||
Additional Information :
- 50% Donations are towards Building Fund.
- 70% entrance fees should be capitalised.
- Subscriptions ₹ 500 for the year 2016-17 ₹ 1,000 for 2017-18 are still in arrears.
- Following are the balances appeared in the books as on 1-4-2018 :
Building Fund ₹ 47,000, Bank Overdraft ₹ 32,000, Land ₹ 1,50,000, Sports Materials ₹ 30,000. Outstanding Subscription for 2016-17 is ₹ 2,500 and 2017-18 is ₹ 4,000. - Outstanding Subscription for current year is ₹ 8,000.
- Closing Stock of Sports Material was ₹ 8,000 on which depreciation to be provided at 12.50% p.a.
Chapter: [0.02] Accounts of ‘Not for Profit’ Concerns
Kranti & Sumangala are Partners sharing Profits and Losses in their Capital ratio. From the Trial Balance given below and Adjustments, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as of that date.
| Trial Balance as on 31st March, 2019 | |||
| Debit Balance | Amount (₹) | Credit Balance | Amount (₹) |
| Stock (1/4/2018) | 32,500 | Capital: | |
| Purchases | 40,000 | Kranti | 1,20,000 |
| Sundry Debtors | 1,00,000 | Sumangala | 40,000 |
| Bills Receivable | 8,500 | Sales | 60,000 |
| Wages | 3,000 | Sundry Creditors | 30,000 |
| Investment | 32,000 | Bills Payable | 15,000 |
| Postage | 2,700 | Commission | 325 |
| Insurance | 7,500 | Purchases Returns | 1,000 |
| Plant & Machinery | 15,000 | ||
| Salaries | 4,850 | ||
| Prepaid Rent | 2,000 | ||
| Bad-debts | 500 | ||
| Furniture | 12,500 | ||
| Cash in Hand | 3,775 | ||
| Sales Return | 1,500 | ||
| 2,66,325 | 2,66,325 | ||
Adjustments:
- Closing Stock is valued at Cost Price ₹ 28,000 and Market Price ₹ 32,000.
- Insurance is paid up to 30th June 2019.
- Outstanding Expenses - Wages ₹ 800, Salaries ₹ 700.
- Book value of Plant and Machinery is reduced to ₹ 13,000.
- Depreciate Furniture by 5% p.a.
- Provide further Bad debts of ₹ 800.
- Goods of ₹ 3,000 distributed as a free sample.
Chapter: [0.01] Introduction to Partnership and Partnership Final Accounts [0.02] Partnership Final Accounts
Submit Question Paper
Help us maintain new question papers on Shaalaa.com, so we can continue to help studentsonly jpg, png and pdf files
Maharashtra State Board previous year question papers 12th Standard Board Exam Book Keeping and Accountancy with solutions 2024 - 2025
Previous year Question paper for Maharashtra State Board 12th Standard Board Exam Accounts-2025 is solved by experts. Solved question papers gives you the chance to check yourself after your mock test.
By referring the question paper Solutions for Book Keeping and Accountancy, you can scale your preparation level and work on your weak areas. It will also help the candidates in developing the time-management skills. Practice makes perfect, and there is no better way to practice than to attempt previous year question paper solutions of Maharashtra State Board 12th Standard Board Exam.
How Maharashtra State Board 12th Standard Board Exam Question Paper solutions Help Students ?
• Question paper solutions for Book Keeping and Accountancy will helps students to prepare for exam.
• Question paper with answer will boost students confidence in exam time and also give you an idea About the important questions and topics to be prepared for the board exam.
• For finding solution of question papers no need to refer so multiple sources like textbook or guides.
