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

FOR MAHARASHTRA BOARD (MSBSHSE) CLASS 12 EXAM PREPARATION

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

Maharashtra Board (MSBSHSE) Class 12 2026
TYPE SUBJECT

March Session Question Paper Book-Keeping & Accountancy

Notes · Sample Papers · Previous Year Papers · Mock Tests

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DAY — 13 SEAT NUMBER

2026 II 26 1100 (E)
J-196
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BOOK.cKEEPING
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& ACCOUNTANCY (50)
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lTime ag
a : 3 Hrs. ( 12 Pages ) Max. Marks : 80

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

(A) Complete the table : (5)

(1) Cost of = Opening Stock + Purchases –
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goods sold
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(2) Income
g la Expenditure Deficit

25,000 a 2,000

(3) Date of drawing bill Period Due Date

23.12.2021 1 month

(4) Creditors Bills Payable Third Party Liability
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40,000 60,000

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Gross
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a 1,80,000 20,000

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(B) Select the correct options and rewrite the statements : (5)

(1) The profit or loss from revaluation on retirement of

partner is shared by _____.

(a) The remaining partners

(b) All the partners

(c) Only retiring partner

(d) Bank

(2) Profit and Loss Suspense Account is shown in the

new balance sheet on _____ side.
(a) Debit (b) Credit

(c) Assets (d) Liabilities

(3) Not for Profit Organisation is also called _____

organisation.

(a) Service (b) Trading

(c) Profit making (d) Commercial

(4) A _____ is an intangible asset.

(a) Stock (b) Furniture

(c) Cash (d) Goodwill

(5) _____ is credited when unrecorded asset is brought

into business.

(a) Revaluation Account

(b) Balance Sheet

(c) Partners’ Capital Account

(d) Trading Account

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(C) Write a word / term / phrase which can substitute each

of the following statements : (5)

(1) Debit balance of revaluation account.
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(2) m
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It is a damaged software, cracked, but nearly fully
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(4) An account which records only revenue items in

case of Not for Profit Concern.

(5) Partnership Agreement in written form.

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(D) Complete the sentences : (5)

(1) s em
When face value of the share is ` 100 and issued
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a then it is said that the shares are
price is ` 110

issued at _____.

(2) A person who draws the bill of exchange is known

as _____.

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(3) Dissolution expenses are credited to _____ account.
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a (5) Expenses which are paid before due date are called

as _____.

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Q. 2. The Balance Sheet of Mohit and Rohit who shared profits [10]
equally was as follows :

Balance Sheet as on 31st March 2021

Amount Amount
Liabilities Assets
(`) (`)
Bills Payable 52,000 Cash 1,60,000
Creditors 48,000 Stock 80,000
Capital Accounts : Plant and Machinery 1,40,000
Mohit 2,00,000 Debtors 52,000
Rohit 2,80,000 4,80,000 Furniture 48,000
General Reserve 20,000 Land and Building 1,20,000
6,00,000 6,00,000

On 1st April 2021 Sujit joins the firm as a partner for
1/5th share of future profit on the following terms and
conditions :

(1) Stock, Plant and Machinery are to be reduced by 20%.

(2) Land and Building is to be valued at ` 1,75,000.

(3) A provision of 10% is to be created on debtors.

(4) Sujit is to bring in ` 2,00,000 as capital.

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

Draft the Journal Entries in the books of the firm and
show Profit and Loss Adjustment Account.

OR

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Give journal entries of the following in the books of Daulat.

(1) Sarita’s acceptance for 3 months of ` 20,000 was
discounted with bank at ` 19,800.

(2) Siddhi’s acceptance ` 15,000 retired one month before
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the due date at rebate of 12% p.a.
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m . acceptance of ` 9,750 is endorsed in favour of s e
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(3) Prachiti’s
s Bhumika in full settlement of her account ` 10,000. l a
l a ag
ag (4) Sold goods to Madhura ` 20,000 @10% trade discount.
Received half the amount in cash and for the balance a
bill for 2 months which was accepted by Madhura. On
the due date, Madhura meets the bill.

Q. 3. Rajeev, Sanjeev and Mahesh were partners in the firm Janki [10]
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Traders sharing profit and losses in the ratio of 2 : 2 : 1. The

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following is the Balance Sheet as on 31st March 2022 :
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Balance Sheet st

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Amount Amount
Liabilities Assets
(`) (`)
Capital Accounts: Machinery 2,00,000
Rajeev 2,40,000 Investment 96,000
Sanjeev 80,000 Debtors 2,20,000

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Mahesh
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80,000 Less - R.D.D. 12,000
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2,08,000
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Creditors 1,60,000 Bank 56,000

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6,40,000 6,40,000

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On the above date the partners decided to dissolve the
firm.

(1) Assets were realised as under :
Machinery ` 1,80,000, Stock ` 72,000, Investment
` 84,000 and Debtors ` 1,80,000.

(2) Dissolution expenses were ` 12,000.

(3) Goodwill of the firm realised ` 96,000.

Prepare necessary ledger accounts to close the books of the
Partnership Firm.

OR

Ramesh, Dinesh and Mahesh were partners sharing
profits and losses in the ratio of 5 : 2 : 3. Their balance sheet
as on 31st March 2020 was as follows :

Balance Sheet as on 31st March 2020

Amount Amount
Liabilities Assets
(`) (`)
Capital Accounts: Plant and Machinery 42,000
Ramesh 46,000 Building 50,000
Dinesh 42,000 Stock 30,400
Mahesh 27,600 Debtors 26,800
Creditors 30,000 Less - R.D.D. 800 26,000
Bills Payable 11,200 Bank 32,400
General Reserve 24,000
1,80,800 1,80,800

Dinesh retired from business on 1st April 2020 on the following
terms :

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(1) The assets were revalued as under :
(i) Stock ` 38,000
(ii) Building is appreciated by 10%
(iii) Plant and Machinery is to be depreciated by 10%
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(iv) R.D.D. is increased up to ` 1,000.
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(2)
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The goodwill of retiring partner is valued at ` 18,000 and
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s eremaining partners decided that goodwill be written off l a
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a (3) Amount due to Dinesh is to be transferred to his loan
account.

Prepare : (1) Revaluation Account
(2) Partners’ Capital Account and
(3) Balance Sheet of New Firm.

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Mahendra, Jitendra and Hitendra. are in partnership sharing
emof 3 : 2 : 1 respectively. Their
Q. 4. [8]

as
profits and losses in the ratio
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Balance Sheet as on 31 g
a March 2022 was as follows :
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Balance Sheet as on 31st March 2022

Amount Amount
Liabilities Assets
(`) (`)
Capital Accounts : Debtors 90,000
Mahendra 2,20,000 Machinery 85,000
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Jitendra 3,50,000

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la80,000
Hitendra 2,40,000 Motor Lorry 1,00,000
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a Bills Payable 7,000 Bank 1,48,000
General Reserve 96,000
8,53,000 8,53,000

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On 1st October 2022 Hitendra died and the partnership
deed provided that :

(1) Machinery valued at ` 80,000 and creditors valued at
` 69,000.

(2) Profit for 2022-23 was estimated at ` 1,20,000. Hitendra’s
share in it up to the date of his death was given to him.

(3) Goodwill of the firm was valued at two times the average
profit of the last 5 years. Firm’s profit of the last 5 years
were :
I year ` 1,80,000,
II year ` 1,50,000,
III year ` 2,00,000,
IV year ` 1,20,000
V year ` 2,50,000.

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

(4) Drawings made by Hitendra up to his death is ` 30,000.

(5) Interest on drawings of Hitendra charged ` 2,000.

Prepare : Hitendra’s Capital Account and show working of:
(i) Hitendra’s share in goodwill.
(ii) Hitendra’s share in profit.

OR
State the importance of Computerised Accounting System.

Q. 5. Pavitra Co. Ltd. issued ` 20,00,000 capital divided into equity [8]
shares of ` 100 each at a premium of ` 20 per share.

Amount payable as :
` 20 on Application
` 40 on Allotment (including ` 10 premium)
` 60 on First and Final call (including ` 10 premium)

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Company received applications for all shares. All the
money due on allotment and first and final call was duly
received.
Pass Journal Entries in the books of Pavitra Co. Ltd.
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c. oTrading and Profit and Loss Account m .co
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for the year ended 31st March 2022

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Amount Amount
Particulars Particulars
(`) (`)
To Opening Stock 4,00,000 By Sales 24,00,000
To Purchases 18,00,000 By Closing Stock 6,00,000
To Wages 2,00,000
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To Gross Profit c/d 6,00,000
Total 30,00,000
e m Total 30,00,000
To Office Expenses l as By Gross Profit b/d 6,00,000
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2,50,000
a2,00,000
To Selling Expenses
To Finance Expenses 60,000
To Net Profit c/d 90,000
6,00,000 6,00,000

Company had following current assets and current
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s e Payable ` 40,000, Loose Tools ` 20,000, Bank Overdraft
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a
a Calculate following ratios :
(1) Gross Profit Ratio
(2) Operating Ratio
(3) Net Profit Ratio
(4) Current Ratio

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Q. 6. From the following transactions of Samarth Vyayamshala, [12]
Chandgad, prepare Income and Expenditure Account and
Balance Sheet as on 31st March 2022.

Receipts and Payments Account
As on 31st March 2022

Amount Amount
Receipts Payments
(`) (`)
To Balance b/d By Salaries 18,000
Cash in hand 15,000 By Entertainment
To Subscriptions expenses 7,440
2021-2022 54,000 By Sundry Expenses 3,900
2022-2023 1,230 55,230 By Electricity Charges 3,600
To Donations 18,000 By Rent 2,100
To Receipts from By Investment 45,000
entertainment 16,200 By Printing and
To Interest 1,200 Stationery 2,400
To Entrance Fees 18,600 By Postage 9,600
By Fixed Deposit 11,700
By Balance C/d 20,490
1,24,230 1,24,230

Adjustments :

(1) Capital fund as on 1st April 2021 was ` 2,10,000.

(2) Assets on 1st April 2021 were :
Building ` 1,50,000
Furniture ` 45,000

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(3) Provide depreciation on building at 5% p.a. and on
furniture at 10% p.a.

(4) 50% of entrance fees to be capitalised.

(5) There are 1,500 members each paying yearly subscription
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of ` 50.
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Q. 7.
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Snehal and Deepali are partners sharing profit and losses in g
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ag their capital ratio. Following is the Trial Balance as on
31st March 2021:

Trial Balance
As on 31st March 2021

Debit Credit
Particulars Amount Particulars Amount
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c
(`) (`)
27,600 .Capital Accounts :
Plant and Machinery
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Carriage Outward s
la2,600 Snehal 1,60,000
Wages and Salary
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a 15,200 Deepali 80,000
Sundry Debtors 1,24,000 Sundry Creditors 68,000
General Expenses 5,000 Sales 2,96,000
Stock (1st April 2020) 1,79,000 R.D.D. 2,400
Motor Van 80,000 Purchase Return 12,000
Office Rent m
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10,000
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s e m
s e Sales Return 16,000
g la
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a (For 2 Years) 8,000

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Salaries 9,000
Purchases 96,000
6,18,400 6,18,400

Adjustments :

(1) Closing stock is valued at ` 1,76,000.

(2) Outstanding wages ` 1,600.

(3) Reserve for doubtful debts on Debtors at 5% is to be
created.

(4) Depreciate motor van by 5% and plant and machinery by
10% p.a.

Prepare :

(i) Trading Account

(ii) Profit and Loss Account

(iii) Balance Sheet as on 31st March 2021.
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