Sample Papers for Class 12 Accountancy and Previous years papers to download in PDF – All India 2018, 2017 set 1, 2 & 3, Delhi 2018, 2017 set 1, 2 & 3 and Foreign 2018, 2017 set 1, 2 & 3. The older papers are also available like CBSE exams 2018, 2017, 2016, 2015, 2014, etc. The main and compartment exams papers are given separately with solutions. Prepare for the exam – March 2019 according to the current New CBSE Syllabus 2018-19. For study material and NCERT solutions, Click Here. Students are advised to complete their syllabus before two months of exam so that they can properly practice the question papers related to previous years CBSE exams.

Important Questions from CBSE Papers – 2018

1. Ritesh and Hitesh are childhood friends. Ritesh is a consultant whereas Hitesh is an architect. They contributed equal amounts and purchased a building for rupees 2 crores. After a year, they sold it for rupees 3 crores and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer.
2. Jayant, Kartik and Leena were partners in a firm sharing profits and losses in the ratio of 5 : 2 : 3. Kartik died and Jayant and Leena decided to continue the business. Their gaining ratio was 2 : 3. Calculate the new profit sharing ratio of Jayant and Leena.
3. On 1st April, 2014, KK Ltd. invited applications for issuing 5,000 10% debentures of < 1,000 each at a discount of 6%. These debentures were repayable at the end of 3rd year at a premium of 10%. Applications for 6,000 debentures were received and the debentures were allotted on pro-rata basis to all the applicants. Excess money received with applications was refunded.
   The directors decided to transfer the minimum amount to Debenture Redemption Reserve on 31.3.2016. On 1.4.2016, the company invested the necessary amount in 9% bank fixed deposit as per the provisions of the Companies Act, 2013. Tax was deducted at source by bank on interest @ 10% p.a.
   Pass the necessary journal entries for issue and redemption of debentures. Ignore entries relating to writing off loss on issue of debentures and interest paid on debentures.