Goa Board Class 12 Sample Paper 2023 Accountancy

Sample Paper
&
Question Paper Pattern
2022
2023

GOA BOARD

ACCOUNTANCY VOCATIONAL 2022-23
ACCOUNTANCY (THEORY)
(New Revised Syllabus)
To be implemented for the year 2022 - 2023
XII Vocational Commerce Based Courses. Max. Marks: 50
Unit Name of the Sub-Unit Scope and Limitations Marks No. of
No. Unit Allotted Periods
I Depreciation Meaning and definition of depreciation – causes 05 07
of depreciation –objectives of providing for
depreciation- factors influencing amount of
depreciation – method of charging depreciation
– fixed installment method, reducing balance
method, revaluation method, depletion method,
annuity method and insurance policy method -
proforma of Fixed asset account.
II Partnership A) With Introduction of partnership – meaning and 12 13
Accounts Unlimited definition of partnership – Features of
Liability partnership- meaning of partnership deed –
contents of partnership deed – accounting
provisions as per Indian partnership act 1932
(when there is no partnership deed or deed is
silent) – methods of maintaining capital
accounts – fixed and fluctuating capital method
– Distinction between fixed capital account
method and fluctuating capital account method,
Meaning of Book-Profit of partnership firm,
Meaning of profit and loss appropriation
account and Proforma with following
adjustments:
- Interest on capital
- Interest on drawings
- Cash/ Goods withdrawn by the partner
for personal use
- Salary to the partner
- Interest on loan given to the partner
- Interest on loan taken from the partner
- Transfer of part of the profit to general
reserve
Proforma of partners capital account under
fluctuating capital account method – Proforma
of partners current account under fixed capital
account method – Proforma of partners capital

account under fixed capital account method –
Distinction between fixed capital account
method and fluctuating capital account method.

Partnership Final accounts - Meaning of
Trading account, Profit & Loss account and
Balance sheet and specimens - Accounting
treatment of adjustments:
- Closing Stock
- Outstanding expenses
- Prepaid expenses/ Expenses paid in
advance
- Outstanding income
- Income received in advance
- Depreciation
- Further Bad debts
- Reserve for Doubtful Debts/ Provision
for Doubtful Debts
- Goods distributed as free samples
- Insured & Uninsured goods destroyed
by fire
- Deferred Revenue Expenditure
B) With Introduction to Partnership with Limited 04
Limited Liability – Meaning and features of partnership
Liability with limited liability – Procedure for
registration of partnership firm with limited
liability – Advantages and Disadvantages of
partnership with limited liability – Distinction
between partnership with unlimited liability and
partnership with limited liability.
III Admission of Introduction – reasons for admission of a 06 12
Partner partner – meaning of goodwill – methods of
calculation of goodwill: Average Profits
method, Super Profits method and Annuity
method (for annuity method only meaning) –
calculation of new ratio and sacrifice ratio –
proforma of revaluation account and partners
capital account.
IV Retirement Introduction – reasons for retirement of a 06 12
and Death of partner – Distinction between admission and
Partner retirement of partner – calculation new ratio and
gain/benefit ratio on retirement/death of a
partner – calculation of profit of
retiring/deceased partner till the date of
retirement/death – Distinction between
retirement and death of partner - mode of
settlement of accounts of retiring/deceased
partner

V Dissolution of Introduction - circumstances leading to the 05 10
Partnership dissolution of a firm – effects of dissolution –
legal provisions for dissolution – meaning,
explanation and proforma of realization account

VI Account of Meaning and examples of non trading concerns 08 12
Non Trading – meaning and features of receipts and
Concerns payments account – capital receipts, revenue
receipts, capital expenditure, revenue
expenditure and deferred revenue expenditure –
meaning and features of income and
expenditure account – Difference between
receipts and payment account and income &
expenditure account – meaning of donation,
legacy, entrance fees, life membership fees,
honorarium, donations for specific purpose –
proforma of receipts and payments account,
income and expenditure A/c.
VII Company Meaning and Definition of a company – 08 12
Accounts Features of a company-Types of companies-
classification of share capital – types of shares –
equity and preference shares. Types of
Preference shares – meaning of issue of shares
at par, at premium, at discount – calls in arrears
and calls in advance - meaning of forfeiture of
shares and re-issue of shares, Meaning of
Demat Account.
Debenture-Meaning and Classification
Meaning of financial statements, Specimen of
Income Statement and Balance sheet as per the
Schedule III of Indian Companies Act 2013

Chart Showing the allocation of marks for each chapter/unit
for the academic year 2022-23
FIRST TERM
Unit I Depreciation 4 Marks
Unit II Partnership Accounts
A. With Unlimited Liability 9 Marks
B. With Limited Liability

Unit III Admission of a Partner 5 Marks 20 Marks
Unit IV Retirement and Death of a Partners
• Meaning of Retirement
• Reasons for retirement 2 Marks
• Calculation of New Ratio and Gain
Ratio/Benefit Ratio on retirement/death of a
partner

SECOND TERM
Unit IV Retirement and Death of a Partners
• Calculation of profit of retiring/deceased
partner till the date of retirement/death
• Distinction between Retirement and Death of 4 Marks
a Partner
• Mode of Settlement of of accounts of 20 Marks
retiring/deceased partner
Unit V Dissolution of Partnership 4 Marks
Unit VI Accounts of Non Trading Concerns 6 Marks
Unit VII Company Accounts 6 Marks

SCHEME OF EXAMINATION FOR THEORY PAPER (2022-23)
I TERM BOARD EXAM (All 20 MCQ Questions)…….……………...………… 20Marks
II TERM BOARD EXAM (Subjective Paper) - No MCQ Questions to be asked...20Marks
INTERNAL TEST MARKS (Average) ………...…..……………………….……. 10Marks
(1st Internal test + 2nd Internal Test + Innovative Test/6 = 20+20+20/6)
TOTAL ………………………………..………………………………………… 50Marks

ACCOUNTANCY PRACTICAL
To be conducted as per Continuous and Comprehensive Evaluation (CCE)
(New Revised Syllabus)
To be implemented for the year 2022 - 2023
XII Vocational Commerce Based Courses. Max. Marks:
100
FIRST TERM
Unit Topic Practical Marks Month
No.
I Depreciation Preparation of Accounting vouchers for purchase of an 06 June
Asset, Sale of an Asset, for providing depreciation on (18)
an Asset and Profit or loss on sale of an Asset –
preparation of Asset account with the help of
accounting vouchers under Fixed installment method
and reducing balance method
II Partnership A Preparation of accounting vouchers for salary to 06 June
Accounts with the partners, interest on drawings of partners and (10)
Limited and interest on capital when Partnership Deed provides for
Unlimited the same, interest on loan taken from/ given to partner,
Liability transfer of part of profit to general reserve, cash/ goods
withdrawn by partner – maintaining partners capital
account and current account under fixed capital account
method and partners capital account under fluctuating
capital account method and profit & loss appropriation
accounts with the help of aforesaid vouchers
B Partnership final accounts – preparation of 14 July
Trading account, Profit & loss account, Profit & Loss (12)
appropriation account, partners capital and current
accounts and Balance Sheet with following
adjustments: Closing Stock, Outstanding Expenses,
Prepaid Expenses, Outstanding income, income
received in advance, insured and uninsured goods
destroyed by fire/accident/theft, goods distributed as
free samples, goods withdrawn by partner for personal
use, unrecorded credit purchases and credit sales,
depreciation, further bad debts, reserve for doubtful
debts, interest on capital and drawings, self evident
adjustments – insurance, interest on loan taken/bank

loan/ bank overdraft, interest on fixed
deposits/investments/loan given, deferred revenue
expenditure – advertising/patents/ leasehold premises,
salaries/rent.

III Partnership A Admission of a Partner 14 August/
Accounts Preparation of accounting vouchers for revaluation of September
(Admission/ assets and liabilities, profit or loss on revaluation, (10)
Retirement/ valuation of goodwill, adjustments regarding
Death of a accumulated reserves and undistributed profits and
partner) losses, adjustment of old partners capital account in
new profit sharing ratio based on new partners capital –
Preparation of revaluation account, partners capital
accounts, cash/bank account and Balance Sheet with
the help of accounting vouchers
AND
B Retirement/Death of a Partner
Preparation of accounting vouchers for revaluation of
assets and liabilities, amount due to the retiring partner,
adjustment of accumulated reserves and undistributed
profits and losses, profit or loss on revaluation,
payment due to the retiring/ deceased partner –
preparation of revaluation account, partner capital
account, cash/bank accounts, balance sheet, and retiring
partner’s loan account/Executors loan account
(any one topic will be considered for evaluation)
Viva on above 05
practicals
File 05
Total 50

SECOND TERM
Unit Topic Practical Marks Month
No.
IV Partnership Preparation of 14 November
Accounts - a Realisation Account (10)
Dissolution of b Partners capital Account
Partnership Firm c Cash/ Bank A/c
(Excluding problems on Insolvency of partners)
Preparation of accounting vouchers for transfer of
assets and liabilities, preparation of accounting.
Vouchers for realization of assets, payment of
liabilities, expenses on realization, Profit or Loss on
realization, adjustment of accumulated reserves and
undistributed profit and losses, final settlement of
partners’ capital account.
V Accounts of Non Preparation of 10 December

Trading Concerns - Income and Expenditure account (17)
- Balance Sheet
Out of the receipt and payment account and additional

information (with and without opening balance sheet)
VI Company A) Journal entries for: 08 January
Accounts - issue of shares (only at par) (15)
- calls in arrears
- forfeiture of shares
B) Presentation of Income statement and Balance sheet 08
of Company in the vertical form as per the Schedule III
of Indian Companies Act 2013
Viva on above 05
practicals
File 05
Total 50

Model Question Paper for First Term Board Exam (Multiple Choice Questions)
Class : XII ACCOUNTANCY (VOC) Marks: 20 Duration: 1 Hour
Instructions:
i All questions are compulsory
ii Use of non-scientific calculator is permitted
iii Write the number of each question clearly on the answer book
iv Figures to the right indicate full mark

1. Depreciation amount charged on a machinery will be debited to _______. (01)
A) Repairs Account
B) Cash Account
C) Depreciation Account
D) Machinery Account

2. According to Straight Line Method of Depreciation , the depreciation ___ (01)
A) Remains constant
B) Increases each year
C) Decreases each year
D) None of the above

3. Following is the Net Profit/Net Loss of a firm during last four years: (01)

Year Profit/Loss Rs.
2018 Profit 1,00,000
2019 Loss 50,000

2020 Profit 40,000
2021 Profit 30,000
On the basis of two years of purchase price of the average profit of last
four years the value of goodwill is _________ ___________.

A) 30,000
B) 1,10,000
C) 60,000
D) 40,000

4. In Partnership Final Accounts uninsured goods lost by fire will appear on (01)
the _____________.
A) Debit side of Trading Account and credit side of Profit and Loss
Account
B) Debit side of Profit and Loss Account and credit side of Trading
Account
C) Debit side of Profit and Loss Account and Balance Sheet Asset
side
D) Credit side of Trading Account and Balance Sheet Liability side

5. Loss on Revaluation Account is transferred to_____________. (01)
A) Debit side of Partners Capital Account
B) Credit side of Partners Capital Account
C) Debit of Profit & Loss Account
D) Credit side of Profit & Loss Account

6. In absence of Partnership Deed , interest allowed on partners capital is (01)
_____________.
A) 5% p.a
B) 6% p.a
C) 12% p.a
D) No interest is allowed

7. A, B and C are partners sharing profit and losses in the ratio of 5:2:1. if (01)
the New Ratio on the retirement of A is 3:2, then the Gain Ratio is _____.
A) 11:14
B) 3:2
C) 2:3
D) 14:11

8. When a partner on admission gets capital in cash into the partnership (01)
firm, the account credited is_____________.
A) Revaluation Account
B) Old Partners Capital Account
C) New Partners Capital Account
D) Profit and Loss Account

9. Voluntary exit of a partner from the partnership firm is known as (01)
________________.

A) Admission of a partner
B) Death of a partner
C) Retirement of a partner
D) Dissolution of partnership firm

10. Which of the following option is false? (01)
A) Wear and tear is a cause of depreciation.
B) Temporary fall in the market price of the asset is a cause of
depreciation.
C) Obsolescence is one of the cause of depreciation.
D) Depletion or exhaustion is a cause of depreciation.

11. The method of depreciation which is used for the asset that gets (01)
consumed while generating revenue is _____________.
A) Straight Line Method
B) Diminishing Balance Method
C) Depletion Method
D) Revaluation Method

12. The ratio in which the old partners agree to forego their share of profit in (01)
order to admit a new partner is _____________.
A) Equal ratio
B) New ratio
C) Gain ratio
D) Sacrifice ratio

13. When a new partner brings in share of goodwill in cash, the amount is (01)
debited to _____________.
A) Goodwill account
B) Capital account of the new partners
C) Cash account
D) Capital account of the old partners

14. Profit and Loss account of a partnership firm shows _____________. (01)
A) Gross results of the firm
B) Net results of the firm
C) Assets of the firm
D) Liabilities of the firm

15. Which of the following option is true? (01)
A) Trading account records all indirect expenses and indirect

incomes.
B) Trading account records all direct expenses and direct incomes.
C) Trading Account records only indirect expenses.

D) Trading account records only direct incomes.

16. The net distributable profit to the partner is calculated in __________. (01)
A) Profit and Loss Account
B) Profit and Loss Appropriation Account
C) Trading Account
D) Balance Sheet

17. The minimum number of partners required in a banking business is____. (01)
A) 10
B) 20
C) 50
D) 2

18. A partnership where one partner has unlimited liability and other partner (01)
has limited liability is known as _____________.
A) Partnership at will
B) Limited liability partnership
C) General partnership
D) Particular partnership

19. Partners Current Account has_____________. (01)
A) Credit balance
B) Debit balance or credit balance
C) Neither debit balance nor credit balance
D) Debit balance

20. In absence of partnership deed the profit and losses are shared by the (01)
partners _____________.
A) Unequally
B) Equally
C) As per capital contribution of partners
D) As per the experience of the partners

***************

Goa Board of Secondary & Higher Secondary Education, Alto , Betim – Goa
BLUE PRINT H.S.S.C Examination (First Term 2022-23)
Duration :1 Hour Maximum Marks : 20 Subject : Accountancy
Objective Knowledge Understanding Application

Grand T
Content MCQ VSA SA- SA- Total MCQ VSA SA- SA- Total MCQ VSA SA- SA- Total
Area (1m) (1m) 1(2m) 2(3m) Mks. (1m) (1m) 1(2m) 2(3m) Mks (1m) (1m) 1(2m) 2(3m) Mks

Depreciation 2(1) - - - 2 2(1) - - - 2 - - - - - 4 Mks

Mks Mks
Partnership 6(1) - - - 6 2(1) - - - 2 1(1) - - - 1 9 Mks
Accounts Mks Mks Mks
Admission - - - - - 4(1) - - - 4 1(1) - - - 1 5 Mks
of a Partner Mks Mks
Retirement 1(1) - - - 1 - - - - - 1(1) - - - 1 2 Mks
and Death of Mks Mks
a Partner
TOTAL 9(1) - - - 9 8(1) - - - 8 3(1) - - - 3 20 Mks
Mks Mks Mks

Note : i) Figure outside the bracket indicates number of questions and Figures within the bracket
indicate marks.

Model Question Paper for Second Term Board Exam (SUBJECTIVE TYPE) 20 marks:
ACCOUNTANCY (VOC.)
Class: XII Duration: 1 hour
INSTRUCTIONS: i. There are three sections in this question paper (A,B & C)
ii. In Section A there are four questions of which, question no. 1 & 2 are to
be answered in a word, phrase or figure and question no. 3 & 4 are to be
answered in one sentence each.
iii. Figures to the right indicate marks allotted to each question
iv. Use of non-scientific calculator is permitted
v. Write the number of each question clearly on the answer book
vi. Answer any two questions from Section C
SECTION A
1. Mr. Keshav Naik wants to retire from the partnership firm due to old age 1
and he wants a regular income after his retirement.
With reference to the above statement, which mode of settlement should
he opt for?
2. To which account is the profit or loss on Realisation of Assets and 1
Liabilities transferred?
3. Write any one point of distinction between ‘Retirement’ and ‘Death’ of a 1
partner.
4. Write any one point, under which, a partnership firm may be 1
compulsorily dissolved.
SECTION B
5. Amit, Anup and Anish were partners in the firm sharing Profit & Loss in 2
the ratio of 2:2:1. Profit for the year ending 31st March, 2021 was
Rs.32,000/-. Anup retired on 30th June, 2021.
Calculate the share of profit of the retiring partner till the date of his
retirement based on the previous years profit.
6. Explain the concept of ‘Realisation Account’. 2
7. Draft a neat proforma of ‘Income and Expenditure Account’ and show 2
any two items appearing on Income side and two items appearing on
Expenditure side.

8. Distinguish between ‘Receipt & Payment Account’ and ‘Income and 2
Expenditure Account’ (any two points)
9. Explain the following concepts: 2
a. Donation

b. Legacy
SECTION C
10. Explain any three features of a Joint stock company. 3
11. List any six items under the heading ‘Current Assets’ that appears in 3
Balance sheet as per the Revised Schedule III of Companies Act 2013.
12. Explain the following: 3
a. Issue of shares at par
b. Issue of shares at a discount
c. issue of shares at a premium

BLUE PRINT
SECOND TERM 2022-23
Subject : Accountancy XII Duration: 1 Hour Max. Marks: 20
Objective KNOWLEDGE UNDERSTANDING APPLICATION GRAND
TOTAL
Content Area VSA SA 1 SA 2 Total VSA SA 1 SA Total VSA SA SA 2 Total
Marks 2 Marks 1 Marks
Unit IV - - - - 1(1) - - 1 Mks. 1(1) 1(2) - 3 Mks. 4 Marks
Retirement and Death
of a Partner
Unit V 1(1) 1(2) - 3 - - - - 1(1) - - 1 Mks. 4 Marks
Dissolution of Mks.
Partnership Firm
Unit VI - - - - - 3(2) - 6 Mks. - - - - 6 Marks
Accounts of Non
Trading Concerns
Unit VII - - - - - - 3(3) 6 Mks. - - - - 6 Marks
Companies Account *
- - - 3 - - - 13 - - - 4 Mks. 20 Marks
Mks. Mks.

Note: (I) Figures inside the brackets indicates marks and figures outside the brackets indicate the number of questions
(II) ‘*’ Indicates choice type questions (any two to be answered)