CS CSEET June 2026 Question Paper Fundamentals of Accounting

FOR CS CSEET EXAM PREPARATION

CS CSEET 2026
Question Paper ·
Fundamentals of
Accounting
EXAM YEAR TYPE SUBJECT

CS CSEET 2026 Question Paper Fundamentals of Accounting
DATE

June 2026

Notes · Sample Papers · Previous Year Papers · Mock Tests

m
m c. o
c. o

e m
em l a s
s ag
712
Roll No. ..................................... :1:

m
.co
Time allowed : 3 hours Maximum marks : 100

m
.co s e m
e m la
Total number of questions : 8 Total number of printed pages : 12

l a s a g
NOTE :
ag Question No. 1 is compulsory. Attempt any five questions from Q. No. 2 to
Q. No. 8.

1. (a) On 1st August, 2022 Happy & Lucky Associates, a firm purchased a machine for
` 3,90,000 and spent ` 10,000 on its installation. It decided to provide depreciation
@15% per annum, using written down value method.

m
. co
em
On 30th November, 2025 the machine was dismantled at a cost of ` 5,000 and

l
then sold for ` 1,00,000.
a s
On 1st December, 2025 gthe firm acquired and put into operation a new machine
a
at a total cost of ` 7,60,000.

Depreciation was provided on the new machine on the same basis as had been used
in the case of the earlier machine.

m
The firm closes its books of account every year on 31st March.

m c. o
c. o e m
Prepare Machinery Account and Depreciation Account for four accounting years ended

em l a s
s
31st March, 2026.

gla ag
a
(8 marks)

(b) Mention the purposes for which securities premium can be utilized.

(4 marks)

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 1 of 12

712
:2:

(c) From the following particulars prepare a Bank Reconciliation Statement on 31st March,

2026 :

(1) Bank balance as on 31st March, 2026 as per Pass Book ` 15,200.

(2) Bank charges debited ` 95 in the Pass Book.

(3) Cheques issued but not presented to bank for payment ` 1,500.

(4) Cheques deposited to bank but not credited in the Pass Book ` 5,000.

(5) A cheque entered as a deposit in the Cash Book instead of a payment ` 600.

(6) ` 835 paid into bank had been entered twice in the Cash Book.

(7) The receipt column of the Cash Book has been overcast by ` 800.

(8) A cheque drawn for ` 9 had been incorrectly entered in the Cash Book

as ` 99.

(8 marks)

2. (a) Prepare an extract of Balance Sheet as at 31st March, 2026 for prize fund :

Prizes awarded : ` 200

Prize Fund as at 31.3.2025 : ` 10,000

Donations for prizes received during the year 2025-26 : ` 500

10% Prize Fund investments as at 31st March, 2025 : ` 10,000

Interest received on Prize Fund Investments : ` 600

(6 marks)

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 2 of 12

m
m c. o
c. o

e m
em l a s
s ag
712
:3:

m
(b) You have joined a company as Compliance Officer. Pramod, Managing Director, of

co
m
the company wants to know from you the various principles and conventions used
m .co
m . s e
e l a
in accounting. Write a note to Pramod.

l a s g
a marks)
a g
(6

(c) From the following information, prepare a schedule of Intangible Assets as it would
appear in the Notes to Accounts of Balance Sheet of Tough Ltd. as at 31st March,

2026 :

(i) Goodwill : Cost ` 6,00,000; Amortized for 2 years @ ` 1,00,000 p.a.

m
(ii)
c. o
Patent : Cost ` 4,00,000; Amortized for 3 years @ ` 50,000 p.a.

s emFully amortized in current year.
la
(iii) Software : Cost ` 90,000;

(iv)
g
a during current year for ` 1,50,000; Useful lifespan is
Trademark : Acquired

5 years.

(4 marks)

3. (a) The Cash Book of Clever & Wise, a firm showed an overdraft of ` 30,000 on

o m
c
31st March, 2026.
m . revealed that :
c. o s e m
em
A comparison of the entries in the cash book and pass book

s g a
l were sent to bankers for
gla a
(i) On 22nd March, 2026, cheques totalling ` 6,000

a collection. Out of these, a cheque for ` 1,000 was wrongly recorded on the

credit side of the cash book and a cheque amounting to ` 300 could not
be collected by bank before 1st April, 2026.

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 3 of 12

712
:4:

(ii) A cheque for ` 4,000 was issued to a supplier on 28th March, 2026. The
cheque was presented to bank on 4th April, 2026.

(iii) There were debits of ` 2,600 in the pass book for interest on overdraft and
bank charges, but the same had not been recorded in the cash book.

(iv) A cheque for ` 1,000 was issued to a creditor on 27th March, 2026 but
by mistake the same was not recorded in the cash book. The cheque was,
however, duly encashed by 31st March, 2026.

(v) As per standing instructions, the banker collected dividend of ` 500 on behalf
of the firm and credited the same to its account by 31st March, 2026. The
fact was, however, intimated to the firm on 3rd April, 2026.

You are required to prepare a bank reconciliation statements as on 31st March, 2026.
(8 marks)

(b) AE, BF and CG were partners in a firm named Sampark sharing profits and losses
in the ratio of 3 : 2 : 1. They decided to dissolve their firm w.e.f. 31st December,
2025, the Balance Sheet on which date was as follows :

Liabilities ` Assets `
Creditors 30,000 Machinery 54,000

Loan on mortgage 24,000 Stock 24,000

Joint Life Policy Reserve 15,000 Debtors 36,000

Capital A/c—AE 48,000 Less : Provision –2,000

Capital A/c—BF 36,000 Debtors (Net) 34,000

Capital A/c—CG 21,000 Joint Life Policy 18,000

Patents 27,000
Cash at bank 17,000

Total 1,74,000 Total 1,74,000

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 4 of 12

m
m c. o
c. o

e m
em l a s
s ag
712
:5:

m
Additional Information :

c. o
m m .co
e
(a) Joint life policy was surrendered and insurance company paid a sum of ` 20,000.

l a s
(b)em BF took some of the patents at ` 4,000 whose book value was ` 6,000.
l a s a g
ag (c) The remaining assets were realised as follows :
Machinery = ` 35,000; Stock = ` 18,000; Debtors = ` 30,000;

Patents = 50% of the book value.

(d) Liabilities were paid and discount of ` 1,500 was allowed by the creditors.

o m
c
(e) Expenses of dissolution amounted to ` 2,000.

m. to close the books of the firm.
s e
Prepare the necessary ledger accounts

g la
a (8 marks)

4. (a) On 1st April, 2025, Ruby, Emerald & Diamond entered into partnership with capitals

of ` 60,000, ` 50,000 and ` 90,000 respectively.

Ruby advanced ` 10,000 as loan to the partnership firm on 1st October, 2025. The

m
Partnership Deed has the following clauses :

m c. o
c. o e m
(i) Interest on capital is to be allowed @ 6% p.a.

em l a s
las ag from 30 June, 2025.
(ii) Interest on drawings is to be charged @ 6% p.a. Each partner withdrew

ag ` 6,000 at the end of each quarter commencing th

(iii) Working partners Emerald and Diamond to get salary of ` 600 and ` 900

per month respectively.

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 5 of 12

712
:6:

(iv) Interest on loan was allowed to Ruby @ 6% p.a.

(v) Diamond is to get rent of ` 1,500 per month for use of his building by
the firm. It is paid to him by cheque at the end of every month.

(vi) Profits are shared equally among the partners.

Profit of the firm for the year ended 31st March, 2026 (before the above adjustments)
was ` 1,50,000.

Prepare Profit and Loss Appropriation Account and Capital Accounts of Partners if
capitals are fixed.

(12 marks)

(b) What is meant by ‘pro-rata allotment’ of securities ? Under what circumstances is
it made ?

(4 mark)

5. The following is the trial balance of VK & Sons on 31st March, 2026 :

Particulars Dr (`) Cr (`)

Capital 8,00,000

Opening Stock 1,00,000

Purchase and Sales 6,00,000 9,50,000

Sales returns 20,000

Wages 50,000

Interest on Ram’s loan 10,000

Manufacturing expenses 60,000

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 6 of 12

m
m c. o
c. o

e m
em l a s
s ag
712
:7:

m
.co
Salaries 34,000

m
.co e m
Insurance 15,000

em la s
l a s
Provision for doubtful debts
a
18,000
g
ag
Bad debts 3,000

Bills payable (B/P) 50,000

Interest 10,000

Building 4,00,000

c om
Machinery 5,00,000
.
Furniture
s em 20,000

g l a
a
Motor car 3,00,000

Debtors and Creditors 2,54,000 4,00,000

Drawings 25,000

Cash in hand 8,000

m
c. o
Motor car expenses 6,000

m
c. o Loan from Ram from April 1, 2025 s e m
s em l a
la ag
at 12% interest p.a. 3,00,000

ag Bank deposit 1,00,000

Depreciation on Machinery 20,000

Accrued interest on bank deposit 3,000

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 7 of 12

712
:8:

Adjustments :

1. Closing stock ` 2,50,000.

2. The insurance premium instalment was paid on 1st July, 2025 for 12 months.

3. The installing charges of machine ` 10,000 were posted to wages account.

4. Goods costing ` 8,000 were sent to a customer on sale or approval on 31st March,

2026, but were wrongly entered as sales for ` 10,000.

5. Write off further bad debts for ` 4,000 and increase provision for doubtful debts

by ` 20,000.

6. Charge depreciation on Motor Car at 10% p.a., 1/3 part of Motor Car is used

for private purpose.

7. A bill of ` 50,000 was discounted on 25th March, 2026, the due date of which

was 16th April, 2026.

Prepare Trading Account, Profit & Loss Account for the year ended 31st March, 2026 and

Balance Sheet as on that date.

(16 marks)

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 8 of 12

m
m c. o
c. o

e m
em l a s
s ag
712
:9:

m
.co
6. (a) OMEGA LTD. issued 25,000 equity shares of ` 100 each at a premium of ` 25

m
.co e m
per share payable as follows :

em las
l a s
On application ` 50
a g
ag On allotment ` 50 including premium of ` 25 and
On final call ` 25

Applications were received for 30,000 shares. Letters of regret were issued to applicants

for 5,000 shares and shares were allotted to all other applicants.

m
. co
em
XYZ, the holder of 300 shares, failed to pay the allotment and call money; the shares

were forfeited.
l a s
a g
Show the journal entries and cash book in the books of OMEGA LTD.

(12 marks)

(b) Amrita and Sumana signed partnership deed on 1st July, 2025. They agreed that

m
Sumana will be entitled to a commission of 20% of the net profit after charging

m c. o
c. o m
Amrita’s salary of ` 5,000 per quarter and Sumana’s commission. The net profit before

s e
s em l
charging Amrita’s salary and Sumana’s commission for the year ended 31st March,
a
gla ag
a
2026 was ` 3,15,000.

Calculate Sumana’s commission.

(4 marks)

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 9 of 12

712
: 10 :

7. The following is the Receipts and Payment Account for Victory Sport Club for the year

ended 31st December, 2025 :

Receipts and Payments Account :

Receipts ` Payments `

To Cash in hand 11,000 By Bank Overdraft 15,000

(1.1.2025)

To Subscriptions : By Investments 13,600

2024 1,200 By Furniture 10,000

2025 64,800 By Salaries 20,400

2026 6,000 By Printing and Stationery 3,560

To Interest from Securities 2,600 By Postage and Telegrams 5,000

To Entrance Fees 2,000 By Cost of Drama 7,000

To Proceeds from Drama 8,160 By Sundry Expenses 6,000

To Sale Proceeds from old By Balance :

furniture (cost ` 400) 800 Cash in Hand 4,000

Cash in Bank 12,000

Total 96,560 96,560

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 10 of 12

m
m c. o
c. o

e m
em l a s
s ag
712
: 11 :

m
You are required to prepare the Income and Expenditure Account for the year ended 31st

c o m m .co
. e
December, 2025 and the Balance Sheet as on that date after taking into account the following

information m
e: l a s
l a s a g
(a)ag On 1 January 2025, the club premises value stood at ` 1,00,000; investments at
st

` 24,000; and furniture at ` 15,000.

(b) The club had 720 members each paying an annual subscription of ` 100.

m
(c) Salaries for December, 2025 amounting to ` 2,500 are outstanding.

c o
. capitalised.
e m
(d) Half of the entrance fees are to be

s
Stock of stationery on 31laDecember, 2024 was ` 2,000 and on 31 December
ag
(e) st st

2025 was ` 3,000.

(f) Depreciation of club premises to be 10%.

(16 marks)

m
m c. o
c. o m
8. (a) Rustam Ltd. forfeited 500 shares of ` 100 each, ` 70 called up, on which the

s e
s em l a
shareholder had paid application money of ` 30 per share only. These shares were

gla ag
a
subsequently reissued at ` 60 per share as ` 70 paid up.

Pass journal entries for forfeiture and reissue with narrations.

(6 marks)

1/2026/FA/NS P.T.O.

m .
.co s e m
e m l a
l a s a g
ag For more Question Papers, Sample Papers, Notes & Syllabus visit Page 11 of 12

712
: 12 :

(b) In which book of original entry would the following transactions be entered ?

(1) Goods sold on credit were returned by a customer and cash was given

immediately.

(2) A machinery was purchased on credit from M/s XYZ. for ` 10,000 for free

delivery service.

(3) Discount allowed on prompt payment received by company.

(4) Certain goods for which the payment is due after 30 days were sold to Y

for ` 10,000.

(5) Payment of salary due to Sananda who resigned from the service and which

will be paid on final settlement.

(5 marks)

(c) B Ltd. purchased machinery for ` 1,50,000 on 1st April, 2022. The estimated life

is 10 years and the scrap value after 10 years is estimated at ` 15,000. Depreciation

@ 10% is charged under diminishing balance method. On 1st April, 2025 it has

been decided to follow straight line method and it is anticipated that scrap value

will be nil at the end of its useful life. Show Machinery Account from 2022 to 2026.

(5 marks)

————— o —————

1/2026/FA/NS Contd. ........

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 12 of 12