MH 12th Question Paper 2025 Book Keeping and Accountancy

Maharashtra Board

Question Paper
2025
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DAY —— 13 SEAT NUMBER

2025 II 28
J-347
1500 (E)

BOOK KEEPING & ACCOUNTANCY (50)

Time : 3 Hrs. ( 11 Pages ) Max. Marks : 80

Q. 1. All objective questions are compulsory : [20]

(A) Select the correct option and rewrite the sentences : (5)

(1) A _____ is an intangible asset.
(a) Goodwill (b) Stock
(c) Cash (d) Furniture

(2) Excess of income over expenditure in ‘Not for Profit
Concern’ is termed as _____.
(a) Deficit (b) Profit
(c) Surplus (d) Loss

(3) Decrease in the value of assets should be _____ to
Profit and Loss Adjustment account.
(a) Debited (b) Credited
(c) Added (d) Equal

(4) Dissolution expenses are credited to _____ account.
(a) Realisation (b) Cash/Bank
(c) Capital (d) Loan

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(5) Notary public is a _____.
(a) Government officer (b) Drawer
(c) Payee (d) Endorsee

(B) Complete the sentences : (5)

(1) Trading Account is prepared on the basis of _____
expenses.

(2) Income and Expenditure Account is a _____.

(3) Deceased partner’s executor’s account is shown on
the _____ side of balance sheet.

(4) Fixed deposit account comes under _____ group.

(5) If an asset is taken over by the partner, _____
account is debited.

(C) Find the odd one : (5)

(1) Wages account, Salary account, Royalty account,
Import duty account.

(2) Machinery account, Furniture account, Computer
account, Rent account.

(3) General reserve account, Creditors account,
Machinery account, Capital account.

(4) Notary public, Drawer, Drawee, Payee.

(5) At par, At premium, At discount, At loan.

(D) Do you agree or disagree with the following statements : (5)

(1) Partnership firm is a trading concern.

(2) ‘Not for profit concerns’ do not have profit motive.

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(3) Retiring partner is called an outgoing partner.

(4) Gain ratio is calculated at the time of admission of
new partner.

(5) Financial statement includes only balance sheet.

Q. 2. Mr. Deepak and Mr. Abhishek were in partnership sharing [10]
profits and losses in the proportion of 3 : 1 respectively. Their
Balance Sheet as on 31st March 2019 stood as follows :

Balance Sheet as on 31st March 2019

Amount Amount
Liabilities Assets
(`) (`)
Capital Account: Land and Building 32,000
Mr. Deepak 1,20,000 Plant and Machinery 60,000
Mr. Abhishek 40,000 Furniture 22,000
General Reserve 16,000 Stock 40,000
Sundry Creditors 80,000 Sundry Debtors 64,000
Bank Overdraft 42,000 Cash 80,000
2,98,000 2,98,000

They admitted Adinath into partnership on 1st April
2019 on the terms being that –

(1) He shall have to bring in ` 40,000 as his capital for
1/5 share in future profits and ` 20,000 as his share of
goodwill.

(2) Furniture to be depreciated by 20%.

(3) Stock should be appreciated by 10%.

(4) Building should be appreciated by 5%.

(5) A provision for 5% R.D.D. to be created on sundry debtors.

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(6) Capital account of all partners be adjusted in their new
profit sharing ratio through cash account.

Prepare : (a) Revaluation Account
(b) Partners’ Capital Account
(c) New Balance Sheet of the firm.

OR

Given below is a Balance Sheet of Aditya, Ajinkya and Arun
who were partners in a firm sharing profits and losses in the
ratio 5 : 3 : 2
Their Balance Sheet as on 31st March 2020 was as follows :

Amount Amount
Liabilities Assets
(`) (`)
Creditors 10,450 Cash 3,800
Reserve Fund 7,500 Debtors 9,000
Capital Account: Stock 8,750
Aditya 21,000 Machinery 50,000
Ajinkya 18,500 Furniture 2,500
Arun 16,600
74,050 74,050

On 1st April 2020 Arun retired on the following terms –

(1) Goodwill of the firm will be raised in the books at
` 10,000.

(2) Stocks to be reduced by 10%, furniture by 5% and
Machinery by 10%

(3) R.B.D.D. be maintained at 5% on debtors.

(4) ` 100 to be written off from creditors.

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(5) All the amount due to Arun transferred to his loan
account.

Prepare : (a) Profit and Loss adjustment account.
(b) Partners’ Capital Account.
(c) Balance Sheet of the new firm.

Q. 3. Sharmila, Urmila and Leela are partners in the firm ‘Jeevan [10]
Stores’ sharing profit and losses in the ratio of 2 : 2 : 1
respectively. On 31st March 2020, they decided to dissolve the
firm when their Balance Sheet was as under.
Balance Sheet as on 31st March 2020

Amount Amount
Liabilities Assets
(`) (`)
Capital Account: Goodwill 45,600
Sharmila 2,27,160 Machinery 73,000
Urmila 1,44,000 Motor car 1,67,600
Leela 1,08,000 Building 1,02,000
Creditors 28,800 Investment 62,400
Bills Payable 21,600 Debtors 30,600
Stock 45,000
Bank 3,360
5,29,560 5,29,560

The firm was dissolved on the above date and the assets
were realised as under :

(1) Sharmila agreed to take over the building at ` 1,23,600.

(2) Urmila took over goodwill, stock and debtors at book
values and agreed to pay creditors and bills payable.

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(3) Motor car and Machinery were realised at ` 1,51,080 and
` 31,680 respectively.

(4) Investments were taken by Leela at an agreed value of
` 55,440.

(5) Realisation expenses amounted to ` 6,800.

Prepare :
(a) Realisation Account
(b) Partners’ Capital Account
(c) Bank Account

OR

Kanika owes ` 26,000 to Mansi. Mansi drew a bill
for ` 21,000 on Kanika for 3 months’ period and received
the balance of ` 5,000 by a crossed cheque. The bill was duly
accepted and returned to Mansi.

On the same day, Mansi endorsed Kanika’s acceptance
to Bansari. On the due date, Bansari informed Mansi that
Kanika dishonoured her acceptance and noting charges ` 280
were paid.

Mansi then drew a new bill for one month on Kanika
including noting charges and interest ` 650. On the due date,
Kanika honoured her acceptance by cheque.

Prepare :
(a) Journal entries in the books of ‘Mansi’
(b) ‘Mansi’ account in the books of ‘Kanika’

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Q. 4. ‘Parimal Company Ltd.’ issued 1,00,000 preference shares of [8]

` 20 each payable as ....
On application ` 8
On allotment ` 6
On first call `4
On final call `2

Company received application for all these shares and
received all the money.

Pass journal entries in the books of ‘Parimal Company
Ltd.’

OR
Explain the importance of Computerised Accounting system.

Q. 5. Mahendra, Surendra and Narendra were partners sharing [8]
profits and losses in the ratio of 5 : 3 : 2 respectively. Their
Balance Sheet as on 31st March 2019 was as follows :

Balance Sheet as on 31st March 2019

Amount Amount
Liabilities Assets
(`) (`)
Capital Account: Stock 17,000
Mahendra 23,000 Furniture 18,000
Surendra 15,000 Land and Building 16,000
Narendra 12,000 Bank 37,000
Bills Payable 2,000
Creditors 8,000
Bank Loan 12,000
General Reserve 16,000
88,000 88,000

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Mr. Narendra died on 30th June 2019 and the following
adjustments were agreed as per deed :

(1) Stock, furniture, land and building are to be revalued at
` 16,700, ` 16,200 and ` 30,100 respectively.

(2) Narendra’s share in goodwill is to be valued from firm’s
goodwill which was valued at 3 times of the average
profit of last four years. Profit of the last four years :
I year – ` 30,000
II year – ` 25,000
III year – ` 25,000
IV year – ` 40,000

(3) His profit up to the death is to be calculated on the basis
of profit of last year.

(4) Narendra was entitled to get a salary of ` 1,200 per
month.

(5) Interest on capital at 10% p.a. to be allowed.

(6) Narendra’s drawing up to the date of his death was ` 900
per month.

Prepare :
(A) Narendra’s Capital Account showing amount
payable to his executor.
(B) Give working notes for :
(i) Share of goodwill due to Narendra
(ii) Share of profit due to Narendra.

OR

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(A) From the following information find out the current (4)
ratio :
(i) Total assets = ` 22,000
(ii) Fixed assets = ` 10,000
(iii) Capital employed = ` 20,000

(B) Calculate the net profit ratio from the following (4)
data :
(i) Sales = ` 76,000
(ii) Cost of goods sold = ` 52,000
(iii) Indirect expenses = ` 12,000

Q. 6. Given below is the Balance Sheet of ‘Bhanubai Mahila Seva [12]
Kendra’ as on 1st April 2019 and Receipts and Payments
account for the year ending 31st March 2020:

Balance Sheet as on 1st April 2019

Amount Amount
Liabilities Assets
(`) (`)
Capital fund: 40,000 Machinery 10,000
Furniture 20,000
Outstanding Government
Expenses: Bonds 6,500
Wages 8,000 Outstanding
Electricity 7,000 Subscription 8,500
Stationery 1,000 Cash at bank 10,000
Cash in hand 1,000
56,000 56,000

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Receipts and Payments Account
for the year ended 31st March 2020
Dr. Cr.

Amount Amount
Receipts Payments
(`) (`)
To Balance b/d By Electricity
Cash in hand 1,000 Charges 25,000
Cash at bank 10,000 By Wages 22,000
To Subscription By Stationery 3,000
2018-2019 2,000 By Rent and
2019-2020 45,000 Taxes 11,800
2020-2021 3,000 50,000 By Travelling
To Entrance fees 28,000 Expenses 8,000
To Other receipts 5,000 By Balance c/d –
Cash in hand 4,000
Cash at bank 20,200
94,000 94,000
Additional information :

(1) Outstanding wages ` 450

(2) Entrance fees should be capitalised.

(3) Depreciate furniture at 10% p.a.

(4) Subscription for 2019-20 was outstanding ` 3,000

Prepare :

(a) Income and Expenditure account for the year ended
31st March 2020.

(b) Balance Sheet as on 31st March 2020.

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Q. 7. Rajan and Rohit are partners in partnership firm sharing [12]
profits and losses equally. You are required to prepare Profit
and Loss Account for the year ended 31st March 2020 and
Balance Sheet as on that date with the help of following
information :

Trial Balance as on 31st March 2020

Amount Amount
Debit Balances Credit Balances
(`) (`)
Insurance 30,000 Capital Account:
Land and Building 1,00,000 Rajan 1,00,000
(Addition of ` 40,000 Rohit 1,00,000
w.e.f. 1st July 2019) 10% Bank loan 60,000
Salaries 10,000 (taken on
Export Duty 5,000 1st October 2019)
Interest 2,000 Bills payable 19,000
Furniture 80,000
Debtors 52,000
2,79,000 2,79,000

Additional information :

(1) Gross profit amounted to ` 69,000.

(2) Insurance paid for 15 months w.e.f. 1st April 2019.

(3) Depreciate land and building at 10% p.a. and furniture
at 5% p.a.

(4) Write off ` 2,000 for bad debts and maintain R.D.D. at
5% on sundry debtors.

(5) Closing stock is valued at ` 69,000.
uuu

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DAY — 13 SEAT NUMBER

2025 II 28 1500 (M)
J-348
BOOK KEEPING & ACCOUNTANCY (50)

Time : 3 Hrs. ( 12 Pages ) Max. Marks : 80

[ ]

(Debited) (Credited)

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(fixed deposit)

(outgoing
partner)

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(` ) (` )

` `

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(` ) (`)

`

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` (written off)

[ ]

(` ) (` )

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`

` `

`
`

`
` `

`

`

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` [ ]

`
`
`
`

(CAS)

[ ]

(` ) (` )

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`
` `

`
`
`
`

`

`

(working notes)

(i)

(ii)

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(i) `
(ii) `
(iii) `

(i) `
(ii) `
(iii) `

[ ]

(` ) (` )

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` `

`

`

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[ ]

` `

`

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‹‹‹

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