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HP Board 12th Class Model Question Paper 2025 Accountancy

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Page 1

HPBOSE
MODEL QUESTION
PAPERS

Page 2

Model Test Paper

Class: 10+2,Subject: Accountancy (Partnership and Company Accounting)Session: 2024-25

Time Allowed: 3 Hours Medium- English(Regular)MM= 60

Part-A(Partnership Accounting) MM=28

Q. 1 Choose the right option from the following alternatives:
i)In the absence of partnership deed the interest on partner’s capitals will be given:
(A) 12% (B) 6% (C) 9% (D) Not given
ii)Assertion (A) : Ram, Mohan and Sohan are partners in a firm. Sohan wants to exempt to share him
from the losses of the firm.

Reason(R) : According to partnership act-1932, If all partners are agreed, then a partner may be exempt
to share the losses of the firm.

(A)Both are true and (R) is the right explanation of (A)(B) Both are true but (R) is not the right explanation of (A)

(C) Assertion is true but Reason is not correct(D)Assertion is wrong but Reason is correct

iii)Match the following items:

a)The Liabilities of partners are: = 1) To know the financial position

b)On the shares, company given: =2) Payment of money

c)Redemption of debentures means: = 3) Dividend

d)The objective of balance sheet: = 4) Unlimited

(A) a-2, b-1, c-4, d-3 (B) a-4, b-3, c-2, d-1

(C) a-1, b-2, c-3, d-4 (D) None of the above

iv)A, B and C are three partners sharing profit or loss in the ratio of 4:3:2. A retires and B & C decided to
share future profit or loss in the ratio of 5:3. The gaining ratio will be:

(a)3:2 (b) 21:11 (c) 4:3 (d) 4:2

v)When a partnership firm is dissolved , following A/c is not prepared by the firm:
(A) Revaluation A/c (B) Realization A/c (C) Cash A/c (D) Partner’s Capital A/cs

vi)The forfeited shares may be issued:
Assertion (A)At par value, At premium and At Discount
(Reason) (R)The forfeited shares are not re-issued but these may be re-sold:
a) Both(A) and(R) trueand (R) is the correct explanation:
b) Both (A) and (R) are wrong
c) (R) is true but not the right explanation of (A)
d) None of the above

Page 3

vii)Calculate capital reserve if 40 shares were issued @ Rs. 10 each and forfeited on the non-payment of
Rs. 2 per share of first call. The forfeited shares were re-issued for Rs.380.

(A) Rs.100 (B) Rs.200 (C) Rs.300 (D) Rs.400

viii)The company is paid to the debenture-holders:

(A) Dividend (B) Interest (C) Interest @ 6 % (D) Interest @ 12 %

ix) The profit on the redemption of debentures is transferred to:

(A) To General Reserve A/c (B) To Capital Reserve A/c

(C) To Specific Reserve A/c (D) To Reserve Capital A/c

x)According to Company’s Act, which is not prepared by a company:

(A) Trading A/c (B) Profit & Loss A/c

(C) Report of Directors & Auditors (D) Funds Flow Statement

xi)The liquidity Ratio is related to :

(A) Long-term (B) Short-term (C) Middle-term (D) None of the above

xii) The example of financial activities is:

(A) Sale of fixed assets (B)The amount received from debtors

(C) Payment of dividend (D) Income received from investment (12X 1)=12

Q.2 Explain the two methods of valuation of goodwill: (1+1) =2

Q.3 A partner is withdrawn Rs. 500 at the end of every month. Rate of interest is 10%. Calculate interest
on drawings. (1+1) =2

Q.4 The following is the balance sheet of X & Y as on 31 st December 2018.
Liabilities Amount in Rs. Assets Amount in Rs.
Capital X= 45,000 Bank 30,000
Y= 30,000 75,000 Debtors 40,000
Creditors 60,000 Furniture 32,000
Bills Payable 30,000 Building 81,000
General Reserve 18,000
Total 1,83,000 Total 1,83,000
Profit sharing ratio of X & Y is 1:1.They agree to admit Z into the partnership firm on the following
terms:Furniture and building be reduced by 5%. A reserve of 5% be created for bad debts on debtors. Z
will bring Rs.36,000 as capital and Rs.2000 of goodwill for 1/4 th share in future profit. Prepare
Revaluation A/c, Partner’s Capital A/cs and Balance Sheet of the new firm. (1+2+1) =4
OR

When a partner is admitted in a partnership firm, what are the main adjustments made in firm ?

(4X1)=4

Page 4

Q.5 P,Q and R were partners in a partnership firm sharing profit or losses in the ratio of 2:3:5on 31 st
March 2020 their balance sheet was as follows:
Liabilities Amount in Rs. Assets Amount in Rs.
Capital: P= 80,000 Bank 45,000
Q= 70,000 Debtors = 40,000
R= 60,000 2,10,000 Less:Provision for Bad Debts - 5,000 35,000
Creditors 70,000 Stock 50,000
Building 1,40,000
Profit & loss A/c (Net Loss) 10,000
Total 2,80,000 Total 2,80,000
On the above date R retires from the firm on the following terms: Building is to be depreciated by
Rs.40,000. Provision for Bad Debts is to be maintained at 20% on debtors. Salary outstanding Rs.5000
and creditors Rs. 4,000 will not be claimed.Goodwill of the firm is Rs. 72,000. R is to be paid Rs.15,000
and balance to be transferred to his loan A/c. (1+2+1) =4

OR

When a partner is retired from a firm, explain the different adjustments made in the partnership firm.
(4X1)=4

Q. 6 The balance sheet of a partnership of A,B & C, who sharing profit or loss in the ratio of 4:2:3 and
dissolved on 31st December 2022 as follows:
Liabilities Amount in Rs. Assets Amount in Rs.
Capital: A= 34,000 Cash in Hand 500
B=23,000 Cash at Bank 3250
C= 1500 58,500 Bills Receivables 2800
Creditors 4500 Investments 12,000
Bills Payable 2050 Debtors 15,500
A’s Loan A/c 2000 Stock 9700
Reserve 6300 Furniture 1850
Profit & Loss A/c 2250 Machinery 7500
Buildings 22,500
Total 75,600 75,600
The assets are realized as follows: Bills Receivable 15% less,Debtors Rs.14,100,Stock 25% less, Furniture
Rs.1025, Machinery Rs.4300 and Building Rs.13,200. The cost of realization Rs.300. All liabilities are paid
off. Prepare Realization A/c, A’s Loan A/c, Partner’s Capital A/c and Cash A/c. (1+2+1) =4
OR

i)What is the difference between dissolution of partnership firm and dissolution of partnership ?
ii)Explain the difference between revaluation A/c and realization A/c. (2+2)=4

Page 5

Part-B(Company Accounting and Analysis of Financial Statements) MM=32
Q.7 What is the meaning of oversubscription? Explain (1+1) =2

Q.8 What is the meaning of forfeiture of shares. Explain (1+1)=2

Q.9 Explain the types of debentures according to coupon rate (1+1) =2

Q.10 Give journal entries for issue and redemption of debentures in following cases

i) Issued 100, 8% debentures of Rs. 10 at 10% premium and redeemed at 5% premium.

ii) Issued 500, 6% debentures of Rs.10 each at par and redeemed at 10% premium. (1+1) =2

Q. 11What is the meaning of redemption of debentures? Write four methods of redemption (1+1) =2
Q. 12 Under what heads the following items will be shown in the balance sheet according to
Company’s Act:

(a) Plant and Machinery (b) Patents and Trade Marks

(c) Prepaid Expenses (d) Discount on issue of shares (4X.5) =2

Q.13 Explain the difference between current ratio and liquid ratio. (2X1) =2

Q. 14 What are the limitations of cash flow statement ? (1+1) =2

Q.15Calculate the value of current liabilities, liquid assets and stock if :

Current Assets Rs.315000, Current Ratio 3:1 and Quick Ratio 1.5:1 (3X1) =3

Q.16 Pass necessary journal entries in the following cases :

a) 1000 shares of Rs.10 each are issued to promoters at a premium of 10%.

b) A running business is purchased by a company for Rs. 45000/ and issued Rs.10 fully paid shares.

c) Furniture worth Rs. 960/ purchased form Ram & Company and issued shares of Rs.10 each at 20%
premium. (3X1) =3

Q.17On 1st December 2018 Mohan Trading Company gave notice of their intension to redeem their 6%
debentures of Rs.8,00,000at a premium of 5%. The company has a balance of Rs.8,40,000 at the credit
of its profit & loss A/c. Instead of declaring a dividend it decides to utilize the profit to redeem the above
debentures. Pass necessary journal entries. (3X1) =3

Q.18ABC Ltd.Company issued 10,000 shares of Rs.10 each with premium of Rs.2 per share payable as
Rs.3 on application, Rs.4 on allotment (including premium) and Rs.5 on first & final call. 15,000
applications were received for purchasing the shares.The company made pro-rata allotment to 12,000
applications. The remaining applications were rejected and application money was returned.The excess
application money on allotted shares was utilized towards allotment and call. Vinay having 400 shares
failed to pay the allotment and call. His shares were forfeited after first call. From these 400 forfeited
shares 300 shares were re-issued as fully paid up for 8 per share . Pass necessary journal entries and
prepare bank A/c & balance sheet of the company. (2+1+1) =4

Page 6

Q.19 Following is the balance sheet of M/s XYZ. Prepare Cash Flow Statement from the
following information:
Particulars Dec. 2011 Dec. 2012
Amount in Rs. Amount in Rs.
I.Equity and liabilities: Equity share capital 1,50,000 2,00,000
Preference share capital 75,000 50,000
General reserve 20,000 35,000
Profit & Loss A/c 15,000 24,000
Current Liabilities 37,500 49,500
Total 297500 3,58,500
II. Assets: Non-Current Assets: Buildings 80,000 60,000
Plant 40,000 1,00,000
Goodwill 36,000 20,000
Current Assets: Debtors 1,19,000 1,54,500
Stock 10,000 15,000
Cash 12,500 9,000
Total 2,97,500 3,58,500
Depreciation charged on Plant and Machinery Rs.10,000 and Buildings Rs. 60,000
(1+1+1) =3

Page 7

Model Test Paper (Hindi Medium)

Class: 10+2, Subject: Accountancy( Partnership and Company Accounting)Session: 2024-25 MM= 60

MCQ = 12, 9 (Part-A) + 3 (Part-B) Medium : Hindi

Part-A Partnership Accounting MM=28 Time Allowed: 3 Hours

न 1 न न ल खत म से सह वक प का चुनाव कर
i)य द सांझद
े ार संलेख म नह ं लखा हो तो संझद
े ार क पूंजी पर याज दया जायेगा-
(अ) 12% (ब) 6% (स) 9% (द) नह ं दया जायेगा i
ii)दावा (Assertion)राम,मोहन तथा सोहन एक सांझदे ार फम म सांझदे ार ह, सोहन चाहता है उसे सांझदे ार फम क
हा नओं म ह सा लेने से छुट मलनी चा हए
तक (Reason) सांझद
े ार अ ध नयम-1932 के अनस
ु ार य द सभी सांझद
े ार सहमत होते ह तो कसी सांझद
े ार को फम क
हा नओं म से मु त कया जा सकता है
(अ)दोन ह सह ह और तक दावे का सह प ट करण है (ब) दोन सह ह पर तु तक दावे का सह प ट करण नह ं है

(स) दावा सह है पर तु तक सह नह ं है (द)दावा गलत है पर तु तक सह है

iii) न न ल खत मद का मलान कर

a)सांझदे ार का दा य व होता है = 1) आ थक ि थ त क जानकार

b) अंश पर मलता है = 2) धन का भग
ु तान

c) ऋणप के शोधन का अथ होता है = 3) लाभांश

d)ि थ त ववरण का उदे य होता है = 4) असी मत

(A) a-2, b-1, c-4, d-3 (B) a-4, b-3, c-2, d-1

(C) a-1, b-2, c-3, d-4 (D) None of the above

iv) A, B and C are three partners sharing profit or loss in the ratio of 4:3:2. A retires and B & C decided
to share future profit or loss in the ratio of 5:3. The gaining ratio will be:

(a)3:2 (b) 21:11 (c) 4:3 (d) 4:2

v)जब एक सांझदे ार फम का समापन होता है तो न न ल खत म से कौन सा खाता नह ं बनाया जाता है
(अ)पन
ू मु यांकन खाता (ब)वसल
ू खाता (स)रोकड़ खाता (द) सांझद
े ार के खाते

vi)ज त अंश कापुन: नगमन कया जा सकता है :
दावा (Assertion) सम मू य पर, ी मयम पर तथा कटौती पर
तक (Reason) ज त अंश का पुन: नगमन नह ं पर तु इनका व य होता है
a) दोन (A) और (R) सह ह तथा (R) (A) का सह प ट करणहै
b) दोन गलत ह
c) (R) सह है पर तु (A) का प ट करणनह ं है
d) इनम से कोई नह ं

Page 8

vii) Calculate capital reserve if 40 shares were issued @ Rs. 10 each and forfeited on the non-payment of
Rs. 2 per share of first call. The forfeited shares were re-issued for Rs.380.

(A) Rs.100 (B) Rs.200 (C) Rs.300 (D) Rs.400

viii) ऋणप धा रय को मलता है

(अ) लाभांश (ब) याज (स) 6% क दर से याज (द) 12% क दर से याज

ix) ऋणप के शोधन पर होने वाले लाभ को ह तांत रत कया जाता है

(अ) सामा य संचय म (ब) पूंजीगत संचय म (स) व श ट संचय म (द) सं चत पज
ूं ी म

x)क पनी अ ध नयम के अनस
ु ार न न ल खत म से एक क पनी तैयार नह ं करती है

अ) यापा रक खाता ब) लाभ-हा न खाता स) संचालक तथा अंके क क रपोट द) कोष वाह ववरण

xi)तरलता अनप
ु ात का स ब ध है

(अ) द घकाल (ब) अ पकाल (स) म यकाल (द) इनम से कोई नह ं

xii) वतीय स ब धी याओं का उदाहरणहै :

(अ) थायी स प तय का व य (ब) दे नदार से ा त रा श

(स) लाभांश का भग
ु तान (द) नवेश से ा त आय (12X 1)=12

न.2 या त के मु यांकन क दो ब धय का वणन कर (1+1) =2

Q.3 A partner is withdrawn Rs. 500 at the end of every month. Rate of interest is 10%. Calculate interest
on drawings. (1+1) =2

Q.4 The following is the balance sheet of X & Y as on 31st December 2018.

Liabilities Amount in Rs. Assets Amount in Rs.
Capital X= 45,000 Bank 30,000
Y= 30,000 75,000 Debtors 40,000
Creditors 60,000 Furniture 32,000
Bills Payable 30,000 Building 81,000
General Reserve 18,000
Total 1,83,000 Total 1,83,000
Profit sharing ratio of X & Y is 1:1.They agree to admit Z into the partnership firm on the following
terms:Furniture and building be reduced by 5%. A reserve of 5% be created for bad debts on debtors. Z
will bring Rs.36,000 as capital and Rs.2000 of goodwill for 1/4 th share in future profit.Prepare
Revaluation A/c, Partner’s Capital A/cs and Balance Sheet of the new firm. (1+2+1) =4

अथवा

जब कसी सांझद
े ार फम म नया सांझद
े ार वेश करता है तो सांझद
े ार फम म होने वाले मु य समायोजन का वणन कर
(4X1) =4

Page 9

Q.5 P,Q and R were partners in a partnership firm sharing profit or losses in the ratio of 2:3:5on 31 st
March 2020 their balance sheet was as follows:
Liabilities Amount in Rs. Assets Amount in Rs.
Capital: P= 80,000 Bank 45,000
Q= 70,000 Debtors = 40,000
R= 60,000 2,10,000 Less:Provision for Bad Debts - 5,000 35,000
Creditors 70,000 Stock 50,000
Building 1,40,000
Profit & loss A/c (Net Loss) 10,000
Total 2,80,000 Total 2,80.000
On the above date R retires from the firm on the following terms: Building is to be depreciated by
Rs.40,000. Provision for Bad Debts is to be maintained at 20% on debtors. Salary outstanding Rs.5000
and creditors Rs. 4,000 will not be claimed.Goodwill of the firm is Rs. 72,000. R is to be paid Rs.15,000
and balance to be transferred to his loan A/c. (1+2+1) =4

अथवा

जब कसी सांझेदार फम से कोई सांझेदार सेवा नवत
ृ होता है तो सांझेदार फम म होने वाले व भ न समायोजन
का वणन कर (4X1) =4
Q. 6 The balance sheet of a partnership of A,B & C, who sharing profit or loss in the ratio of 4:2:3 and dissolved
on 31st December 2022 as follows:
Liabilities Amount in Rs. Assets Amount in Rs.
Capital: A= 34,000 Cash in Hand 500
B= 23,000 Cash at Bank 3250
C= 1500 58,500 Bills Receivables 2800
Creditors 4500 Investments 12,000
Bills Payable 2050 Debtors 15,500
A’s Loan A/c 2000 Stock 9700
Reserve 6300 Furniture 1850
Profit & Loss A/c 2250 Machinery 7500
Buildings 22,500
Total 75,600 75,600
The assets are realized as follows: Bills Receivable 15% less,Debtors Rs.14,100,Stock 25% less, Furniture
Rs.1025, Machinery Rs.4300 and Building Rs.13,200. The cost of realization Rs.300. All liabilities are paid
off. Prepare Realization A/c, A’s Loan A/c, Partner’s Capital A/c and Cash A/c. (1+2+1) =4
अथवा

i)सांझेदार के समापन तथा सांझेदार फम के समापन म अंतर प ट कर
ii)पुनमू यांकन खाते तथा वसूल खाते म अ तर प ट कर (2+2) =4

Page 10

Part-B(Company Accounting and Analysis of Financial Statements) MM= 32

न 7 अ तअ भदान का या अथ है ? वणन कर (1+1) =2

न 8 अंश के हरण का या अथ है ? वणन कर (1+1)=2

न 9 कूपन दर क ि ट से ऋणप के कार का वणन कर (1+1) =2

Q.10Give journal entries for issue and redemption of debentures in following cases

i) Issued 100, 8% debentures of Rs. 10 at 10% premium and redeemed at 5% premium.

ii)Issued 500, 6% debentures of Rs.10 each at par and redeemed at 10% premium. (1+1) =2

न 11ऋणप के शोधन का या अथ है ? शोधन क व धओं के चार नाम लख (1+1) =2

Q. 12Under what heads the following items will be shown in the balance sheet according to
Company’s Act:

(a) Plant and Machinery (b) Patents and Trade Marks

(c) Prepaid Expenses (d) Discount on issue of shares (4X.5) =2

न 13चालू अनुपात तथा शी अनुपात म अ तर प ट कर (2X1) =2

न 14रोकड़ वाह ववरण क हा नय का वणन कर (1+1)=2

Q.15 Calculate the value of current liabilities, liquid assets and stock if :

Current Assets Rs.315000, Current Ratio 3:1 and Quick Ratio 1.5:1 (3X1) =3

Q.16Pass necessary journal entries in the following cases :

a) 1000 shares of Rs.10 each are issued to promoters at a premium of 10%.

b) A running business is purchased by a company for Rs. 45000/ and issued Rs.10 fully paid shares.

c) Furniture worth Rs. 960/ purchased form Ram & Company and issued shares of Rs.10 each at 20%
premium. (3X1) =3

Q.17On 1st December 2018 Mohan Trading Company gave notice of their intension to redeem their 6%
debentures of Rs.8,00,000at a premium of 5%. The company has a balance of Rs.8,40,000 at the credit
of its profit & loss A/c. Instead of declaring a dividend it decides to utilize the profit to redeem the above
debentures. Pass necessary journal entries. (3X1) =3

Q.18ABC Ltd.Company issued 10,000 shares of Rs.10 each with premium of Rs.2 per share payable as
Rs.3 on application, Rs.4 on allotment (including premium) and Rs.5 on first & final call. 15,000
applications were received for purchasing the shares.The company made pro-rata allotment to 12,000
applications. The remaining applications were rejected and application money was returned.The excess
application money on allotted shares was utilized towards allotment and call. Vinay having 400 shares
failed to pay the allotment and call. His shares were forfeited after first call. From these 400 forfeited
shares 300 shares were re-issued as fully paid up for 8 per share . Pass necessary journal entries and
prepare bank A/c & balance sheet of the company. (2+1+1)=4

Page 11

Q.19 Following is the balance sheet of M/s XYZ.Prepare Cash Flow Statement from the
followinginformation:

Particulars Dec. 2011 Dec. 2012
Amount in Rs. Amount in Rs.
I.Equity and liabilities: Equity share capital 1,50,000 2,00,000
Preference share capital 75,000 50,000
General reserve 20,000 35,000
Profit & Loss A/c 15,000 24,000
Current Liabilities 37,500 49,500
Total 297500 3,58,500
II. Assets: Non-Current Assets: Buildings 80,000 60,000
Plant 40,000 1,00,000
Goodwill 36,000 20,000
Current Assets: Debtors 1,19,000 1,54,500
Stock 10,000 15,000
Cash 12,500 9,000
Total 2,97,500 3,58,500
Depreciation charged on Plant and Machinery Rs.10,000 and Buildings Rs. 60,000

(3X1) =3

Page 12

Syllabus Regarding Accountancy Class :10+2 Session: 2024-25
Himachal Pradesh Board of School Education Dharamshala Distt. Kangra 176213
Company Accounting and Analysis of Financial Statements MM-60
Name of the Units and Unit wise Distribution of Marks

Part-A MM: 28 (Partnership and Company Accounting)

Course Contents

Units Name of the Units Marks Assigned
1 Accounting for partnership: Basic Concepts 3

2 Reconstitution of partnership firm: 8
Chang in profit sharing ratio and admission of
partner
3 Reconstitution of partnership firm: 5
Retirement/Death of partner
4 Dissolution of partnership firm 5

Part-B Unit-5, 6, 7, 8 & 9, 7X1 = 7 7
MCQ
Total of Part-A 28
Part-B- Company Accounting and Analysis of
Financial Statements MM= 32
5 Accounting for share capital 11

6 Issue & Redemption of Debentures 9

7 Financial Statements of Company 2

8 Accounting ratios 5

9 Cash flow statement 5

Total of Part-B 32
Total (C)= Part-A + Part-B 60
10 Project Work= Unit-7, 8, 9 of Part-B 20
Grand Total (A+B+C) 80
11 Internal Assessment 20

Page 13

Design of Question Paper (Blue Print)
10+2 Accountancy (Partnership and Company Accounting) MM =60
Lesson wise distribution of marks
Part-A (Partnership Accounting) MM =28

MCQ= 5(Part-A) + 7(Part-B) = 12

Unit Lesson Name of the lesson (MCQ) 2 Marks 3 Marks 4 Marks Marks
1 Mark Question Question Question Assigned
Question
I i Accounting for partnership firm: 1 1N - - 3
Basic Concepts
II ii Reconstitution of partnership firm: 1 1 N/T - - 3
Change in profit sharing ratio
iii Reconstitution of partnership firm: 1 - - 1 N OR T 5
Admission of partner
III iv Reconstitution of partnership firm: 1 - - 1 N OR T 5
Retirement/Death of partner
IV V Dissolution of partnership firm 1 - - 1 N OR T 5

Part-B MCQ Unit- V, VI, VII, VIII & IX 7 - - - 7

Total of Part-A 12 2X2=4 - 3X4=12 28

Part-B MM- 32 (Corporate Accounting and Analysis of Financial Statements)
V vi Accounting for share capital - 2T 1 N/T 1N 11

VI vii Issue of debentures - 2 N/T - - 4

viii Redemption of debentures - 1T 1N - 5

VII ix Financial statements of a company - 1 N/T - - 2

VIII X Accounting ratios - 1T 1N - 5

IX xi Cash flow statement - 1T 1N - 5

Total of Part-B - 8X2=16 4X3=12 1X4=4 32

Theory Grand Total of Part-A and Part-B 12 10X2=20 4X3=12 4X4=16 60
X Project Work: Unit VII,VIII & IX of 20
Part-B
Internal Assessment 20

Note:
1. N stands for Numerical and T for Theory.
2. N/T means that question of numerical or theory may be set in the question paper.
3. N OR T stands for choice in the question, i.e. student have to attempt only one question out of two.

Page 14

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Document Details

Board / OrgHimachal Pradesh Board
ExamClass 12
TypeSample Paper
Pages15
Updated30 Apr 2026