MH 12th Question Paper June 2026 Book-Keeping & Accountancy

FOR MAHARASHTRA BOARD (MSBSHSE) CLASS 12 EXAM PREPARATION

Maharashtra Board
(MSBSHSE) Class 12
2026
June Session Question
Paper · Book-Keeping
& Accountancy
EXAM YEAR

Maharashtra Board (MSBSHSE) Class 12 2026
TYPE SUBJECT

June Session Question Paper Book-Keeping & Accountancy

Notes · Sample Papers · Previous Year Papers · Mock Tests

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Page No. 1/10 Subject Code J-309 a
Seat No.

Page No. 1/10 Subject Code J-309 Seat No.

DATE : 29/06/2026 E
SUBJECT : BOOK KEEPING AND
Time : 11.00 - 2.00
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ACCOUNTANCY (50)
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DURATION : 3 Hours .co TOTAL PAGES : 10
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TOTAL MARKS : 80 e m
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Q. 1. a sub-questions are compulsory :
All 20

(A) Select the most appropriate alternative from the following

and rewrite the sentences : (5)

(i) ______ is an Intangible Asset.

(a) Goodwill
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(d). Furniture
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(c) Cash

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(ii) Excess of income over expenditure is termed as ______.

(a) Deficit ag (b) Profit
(c) Surplus (d) Loss

(iii) Decrease in the value of Assets should be ______ to Revaluation

Account.

(a) Debited (b) Credited
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(c) Equal (d) Added
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s e (a) Govt. Officer (b) Endorsee
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a (c) Payee (d) Drawer

(v) Fixed Deposit Account comes under _____ group.

(a) Investment (b) Bank Account

(c) Current Liability (d) Current Asset

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Page No. 2/10 Subject Code J-309
(B) Write a word / term / phrase which can substitute each

of the following statements : (5)

(i) Expenses which are paid before they are due.

(ii) The receipts which are not recurring in nature.

(iii) The ratio in which general reserve is distributed to the old

partners in case of admission of a partner.

(iv) Winding up of partnership business.

(v) Shares issued at its face value.

(C) Complete the sentences : (5)

(i) Liabilities of partners in partnership firm is ______.

(ii) Pune University prepares ______ Account instead of a Profit

and Loss Account.

(iii) A person who draws the bill of exchange is known as ______.

(iv) Revaluation Account is also known as ________ Account.

Current Ratio =
−−−−−−−−−−−−
(v)
Current Liabilities

(D) Do you AGREE / DISAGREE with the following

Statements. (5)

(i) Free distribution of goods is debited to Trading Account.

(ii) Non-trading concerns do not have profit motive.

(iii) When the Goodwill is written off goodwill account is debited.

(iv) On Dissolution of partnership firm / Cash / Bank Account is

closed automatically.

(v) A deceased partner is not entitled to Goodwill of the Firm.

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Page No. 3/10 Subject Code J-309 a
Seat No.

Q. 2. Kaustubh and Ketan are partners sharing profits and losses 10
in the ratio of 1 : 1. Their Balance Sheet as on 31st March 2023

was as follows :

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Balance Sheet as on 31st March 2023
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. c Amount Amount
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Liabilities Assets
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(`) (`)

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Capital Accounts : Building ag
1,20,000
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Kaustubh 2,00,000 Machinery 1,40,000
Ketan 2,80,000 Investment 48,000
Creditors 68,000 Debtors 52,000
Bills Payable 52,000 Stock 80,000
Cash 1,60,000
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6,00,000
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On 1st April 2023, Pranav joins the firm, as a partner for 1/5th share

a following terms and conditions :
of future profits, on the

(i) Firm Goodwill is valued at ` 4,00,000. Pranav is to bring his share
of goodwill in cash.

(ii) Pranav is to bring in ` 2,00,000 as his share of capital.

(iii) Provision for Bad and Doubtful Debts is to be created at 10%
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(b) Partners’ Capital Account

(c) Balance Sheet of the New Firm

OR

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Page No. 4/10 Subject Code J-309
Following is the Balance Sheet of Sagar, Suraj and Sahil, who were

sharing profit and losses equally.

Balance Sheet as on 31st March 2023

Amount Amount
Liabilities Assets
(`) (`)
Capital Accounts: Building 1,40,000
Sagar 87,200 Machinery 20,000
Suraj 70,000 Computer 35,000
Sahil 64,000 Goodwill 24,000
Reserve fund 27,000 Debtors 36,000
Creditors 61,800 Less - R.D.D. 1,800 34,200
Bank 56,800
3,10,000 3,10,000

On 1st April 2023, Sahil retired from the firm on the following terms :

(i) Machinery be revalued at ` 18,800.

(ii) Building be appreciated by 10% and computer be reduced by

` 3,800.

(iii) Debtors were all good and R.D.D. was no longer required.

(iv) Goodwill of the firm be valued at ` 36,000.

(v) Amount payable to Sahil to be transferred to his Loan Account.

Prepare : (a) Profit and Loss Adjustment Account

(b) Partners’ Capital Account

(c) Balance Sheet of the New firm

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Page No. 5/10 Subject Code J-309 a
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Q. 3. Following is the Balance Sheet of M/S. Bhumi, Bhupal and 10

Bipin as on 31st March 2023.

Balance Sheet as on 31st March 2023
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Amount Amount
Liabilities
(`)
Assets
(`)
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Capital Accounts : Computer 11,000
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aBhumi 15,000 Furniture
Bhupal 11,000 Stock 53,000
Bhumi’s Loan A/c 25,000 Bank 7,000
Bills Payable 85,000 Bipin’s Capital A/c 20,000
1,36,000 1,36,000

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All partners declared as insolvent due to the inability to pay the
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liabilities, hence the firm is dissolved.. Bhupal and Bipin can not pay

s em` 8,000 from her private estate.
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anything. Bhumi can contribute only

a Furniture ` 37,000 and computer is sold
Assets realised - Stock ` 35,000,
for ` 6,000.
Realisation expenses amounted to ` 11,000.
Prepare necessary ledger accounts to close the books of the Firm.
OR

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Surekha sold goods to Suman on credit for ` 20,000 for which Suman
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. bank
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the bill for 3 months. Surekha discounted the bill with her
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a ` 8,000, with
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interest ` 1,000 in cash and to draw a new bill for the balance for
2 months. Surekha agrees to this proposal.
Before due date Suman retired her acceptance by paying ` 11,800.

Pass necessary Journal Entries in the books of Surekha.

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Page No. 6/10 Subject Code J-309
Q. 4. Pravin, Prashant and Sushil are partners sharing profits and 8

losses in the ratio 5 : 3 : 2 respectively. Their Balance Sheet as

on 31st March 2022 was as follows :

Balance Sheet as on 31st March 2022

Amount Amount
Liabilities Assets
(`) (`)
Capital Accounts : Loose Tools 1,00,000

Pravin 2,00,000 Debtors 3,00,000

Prashant 1,50,000 Livestock 2,00,000

Sushil 1,00,000 Cash 1,50,000

Reserve fund 50,000

Creditors 2,50,000

7,50,000 7,50,000

Sushil died on 31st March 2022 and the following adjustments were

agreed by as per partnership deed.

(i) Creditors have increased by ` 20,000.

(ii) Goodwill is to be calculated at 2 years’ purchase of average profit of

3 years.

The profit of the last 3 years were :

2019-20 ` 1,80,000.

2020-21 ` 1,20,000.

2021-22 ` 1,20,000. (Loss)

Sushil’s share in it was to be given to him.

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Page No. 7/10 Subject Code J-309 a
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(iii) Loose tools and livestock were valued at ` 1,60,000 and ` 2,40,000

respectively.

(iv) R.D.D. was maintained at ` 20,000.
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Prepare : (a) m Revaluation Account .co
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a (c) Give working of Sushil’s share in goodwill.

OR

Explain the importance of Computerized Accounting System.

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Q. 5. Finolex Co. Ltd. invited applications for 50,000 equity shares 8
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of ` 10 each payable as :
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` 3 on Application

` 5 on Allotment

` 2 on First and Final call

Applications were received for 60,000 equity shares and pro-rata

allotment were made to all.

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Enter the above transactions in the books of the company.
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Page No. 8/10 Subject Code J-309
Calculate Current Ratio, Gross Profit Ratio and Net Profit Ratio from

the following information :

Debtors – 2,50,000

Creditors – 1,20,000

Stock – 1,50,000

Bills payable – 50,000

Cash in hand – 2,00,000

Bank overdraft – 30,000

Net sales – 16,00,000

Gross profit – 8,00,000

Net profit – 4,00,000

Q. 6. Atharv Art Circle, Sindhudurg, a newly started concern on 12

1st April 2022. Their Receipts and Payments Account was as

follows:

Receipts and Payments Account

Dr. As on 31st March 2023 Cr.

Amount Amount
Receipts Payments
(`) (`)

To Life Membership By Furniture 36,000

Fees 66,000 By Postage 12,000

To Subscriptions 1,20,000 By Office rent 7,800

By Newspaper 900

By Electricity Charges 1,680

To Donations 54,000 By Investment 9,000

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Page No. 9/10 Subject Code J-309 a
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By Stationery 12,000

By Laptop 18,000

By Machinery 20,000
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By Balance C/d
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Cash at bank 90,000

2,40,000 2,40,000

Adjustments :
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(i) Subscription outstanding for themyear 2022-23 was ` 15,000.

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(ii) Depreciate furniture @ 10%

(iii) Entire amount of Life Membership fees and 50% of Donations are

to be capitalised.

Prepare Income and Expenditure Account for the year ended 31st

March 2023 and Balance Sheet as on that date.

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Q. 7. m Jayesh and Rupesh are partners sharing profits and losses c
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From the following Trial Balance and additional information, prepare
a Trading and Profit and Loss Account for the year ended on 31 March st

2023 and Balance Sheet as on that date.

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Page No. 10/10 Subject Code J-309
Trial Balance

As on 31st March 2023

Amount Amount
Debit Balance Credit Balance
(`) (`)
Purchases 1,63,000 Sales 2,20,000
Debtors 45,000 Creditors 47,000
General Expenses 8,000 Return Outward 3,000
Stock (on 1-4-22) 35,000 Capital:
Premises 1,30,000 Jayesh 1,20,000
Rent (for 10 months) 20,000 Rupesh 80,000
Productive wages 5,000
Furniture 40,000
(Addition ` 20,000
made on 01-10-2022)
Cash at Bank 24,000
4,70,000 4,70,000

Adjustments :

(i) Closing stock is valued at ` 38,000.

(ii) Depreciate furniture by 10% p.a.

(iii) Charge interest on capital at 5% p.a.

(iv) Goods distributed as free sample ` 2,000.

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