Class 12 Accountancy Question paper 2021 with solutions – लेखाशास्त्र पेपर

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Ans.1– Partners’ Capital Accounts

Ans.2- (A)/ 318,000, 518,000 and 9,000

Ans.3- (B) / Debited to Revaluation Account

Ans.4- 9/20

Ans.5- 3:1

Ans.6- Any one of the following
Loss on sale of fixed assets
Outstanding expenses at the end
Prepaid expenses in the beginning of the year

Ans.7– (A)/72,000

Ans.8– Sahil’s new Capital = 3,60,000
Jatin’s new Capital = 32,40,000

Ans.9- (B)/2,80,000

Ans.10- (D) / Credited to Bank Account

Ans.11– Premium

Ans.12- (C) / It can be used for writing off capital losses

Ans.13– Any one of the following
Provision for doubtful debts
Investment fluctuation fund
Accumulated depreciation

Ans.14 -Income & Expenditure A/c of a Sports Club for the year ended…..

ExpenditureAmount ₹IncomeAmount ₹
To Match expenses64,000

Sports Club
Balance sheet (An extract)
as at….

LiabilitiesAmount ₹AssetsAmount ₹
Prize fund + Interest on Prize 44,000Prize fund investment44,000

Fund Investment 6,000
Less Prizes awarded (46,000)



Answer – Stock of Medicines A/c

ParticularsAmount ₹ParticularsAmount ₹
To Balance b/d60000By Income and Expenditure A/c3,72,500
To Cash A/C46500medicines consumed
To Creditors A/C276000By Balance c/d10,000

Calculation of Amount of Medicines Consumed = Opening Stock of Medicines +Purchases (Cash +Credit)+ Closing Stock of Medicines= 60,000+ (2,76,000+*46,500) – 10,000= 3,72,500


DateParticularsDr. Amount ₹Cr. Amount ₹
Ram’s Capital Alc Dr.180
Sohan’s Capital A/c Dr.630
To Mohan’s Capital A/c
(Adjustment entry for interest on drawings wrongly charged)

Working note adjustment Table

ParticularsRam ₹Mohan ₹Sohan ₹
Interest on drawings, wrongly debited10801440—-
Loss to be debited1260630630
Net Effect180 Dr.810 Cr.630 Dr.
(Note: If an examinee has used any other method to calculate the Net effect correctly
full credit be given)


Answer.15- Profit & Loss appropriation A/c for the year ended 31 March, 2019

ParticularsAmount ₹ParticularsAmount ₹
To Interest on CapitalBy Profit & Loss A/c -Net Profit b/d
By Interest on Drawings
Yadu’s current A/C 54,000Yadu’s current A/C 3,200
Vidu’s current A/C 30,000Vidu’s current Alc 2,800
Radhu’s current A/c 24,000108000Radhu’s current A/c 2,0008000
To Profit transferred to
Yadu’s current A/C 61,200
Vidu’s current A/C 45,900
Radhu’s current A/c 45,900153,000

Answer.16 – Journal

DateParticularsDr AmountCr Amount
Furkan’s capital A/c Dr24000
Barkat’s capital A/c8000
To Tanmay’s capital A/c
(Tanmay’s share of goodwill adjusted)
Profit & Loss suspense A/c Dr.8,667
To Tanmay’s capital A/c
(Share of Profit for the year credited to deceased
Partner’s Capital A/C)
Tanmay’s capital Alc Dr.8,40,667
To Tanmay’s Executor’s/ Tanmay’s Executor’s
Loan A/C

(Deceased Partner’s Capital Balance transferred to
Executor’s A/c)
Tanmay’s Executor’s A/c Dr.95,000
To Bank A/C
(Payment made to Executor)

Note:- If an examinee has raised the Goodwill, full credit to be given.

(Analysis of Financial Statements)

Ans.23- Limitations of Financial Statements are: (Any one)
(i) It is a Historical Analysis as it analyses what has happened till date. It doesn’t reflect the future.
(ii) It ignores price level changes as a change in price level makes analysis of financial statements of different accounting years invalid.
(iii) It ignores qualitative aspect as the quality of management, quality of staff etc. are ignored while carrying out the analysis of financial statements.
(iv) It suffers from the limitations of financial statements as the analysis is based on the information given in the financial statements.
(v) It is not free from bias of accountants such as method of inventory valuation,method of depreciation etc.
(vi) It may lead to window dressing i.e. showing a better financial position than what actually is by manipulating the books of accounts.
(vii) It may be misleading without the knowledge of the changes in accounting procedure

Ans.24– No change
Reason: It results in increase in asset (debtors) and decrease in other asset (bank)with the same amount.

Ans.25– False

Ans.26– ₹ 19,00,000

Ans.27- Any one of the following:
(i) Payment of dividend
(ii) Interest on Long term Borrowings
(iii) Issue of Shares for cash
(iv) Issue of Debenture for cash

Ans.29– (B) / Three months or less

Ans.30– Total Assets to Debt ratio = Total Assets /Debt.
Total Assets = Shareholders’ Funds +Total Debt
= ₹7,50,000 + ₹19,50,000
Debt = Total Debt – Current Liabilities
=19,50,000 – 4,50,000
Total Assets to Debt ratio = ₹27,00,000/₹15,00,000
= 1.8: 1

Q.30- Under which major head……………….. Companies Act, 2013?

ItemMajor HeadSub Head
Computer softwareNon-Current AssetsFixed Assets-Intangible
Calls in advanceCurrent liabilitiesOther Current Liabilities
Outstanding salaryCurrent liabilitiesOther Current Liabilities
Securities premium reserveShareholders fundsReserves and Surplus
PatentsNon-Current AssetsFixed Assets-Intangible
Interest accrued on investmentCurrent assetsOther current Assets

Q.31- From the following information… Profit and Loss:

Answer.31– Comparative Statement of Profit & Loss for the years ending 31 March 2018 & 2019

Particulars31 March 2018 ₹31 March 2019 ₹Absolute Change ₹Percentage Change
Revenue from Operations4,00,0003,00,000 ((1,00,000)(25)
Add Other income80,00040,00040,000(50)
Total Revenue4,80,0003,40,000(140,000)(29.17)
Less Expenses2,00,000150,000(50,000)(25)
Profit before Tax2,80,0001,90,000(90,000)(32.14)
Less Tax1,12,00076,000(36,000)(32.14)
Profit after Tax1,68,0001,14,000(54,000)(32.14)


Q. Prepare a common size………………………. following information:

Answer – Common Size Balance Sheet of L .X .Ltd

Particulars31 Mar 201831 Mar 2019Percentage of Balance Sheet Total 2018Percentage of Balance Sheet Total 2019
Equity and Liabilities
Shareholders Funds10,00,00020,00,0005040
Non Current liabilities5,00,00020,00,0002540
Current Liabilities5,00,00010,00,0002520
II. Assets
Non Current assets12,50,00030,00,00062.560
Current assets7,50,00020,00,00037.540



Computerised Accounting

Ans.23- (D) / Batch processing

Ans.24– Height of a person is a single value attribute whereas academic qualification can be multi value attribute.

Ans.25– (C) / Inventory Subsystem

Ans.26– (B) / Up arrow key

Ans.27– A summary query is used to extract aggregate of data items for a group of records rather than a detailed set of records.

Ans.28- (D) /All of above

Ans.29- (C)/Required and must be unique

Ans.30- DA = BPE X (Applicable rate of DA for the month)
Where BP=Basic pay
NOED = Number of effective Days present
NODM = Number of Days in a month
Gross Salary = BPE + DA+HRA +TRA
Where HRA = House rent allowance
TRA = Transport allowance


Ans.30- (i) Contra Voucher : Used for fund transfer between cash and Bank A/c only.
If cash is withdrawn form Bank for office or deposited in the bank from office this
voucher will be used.
(ii) Receipt Voucher All the inflow of money is recorded through receipt voucher. Such receipts may be towards any income such an receipts form debtors, Loan/ Advance taken or refund of loan/advance etc.

Ans.31– Limitations of Computerised Accounting system.
1) Faster obsolescence of technology necessitate investment in shorter period of time.
2) Data may be lost or corrupted due to power interruption.
3) Data are prone to hacking.
4) Un-programmed and un-specified reports cannot be generated.


Ans.32– Data validation is a feature to define restrictions on type of data entered into a cell. It makes the data accurate and consistent.
Eg. In a formula box, enter a formula that calculate a logical value. If the formula calculates TRUE entry it will be valid otherwise False entry will be in valid etc. if a sum value comes to be greater than the set limit it will be


Ans.32– The error is a # REF! Error.
This error occurs when a cell reference is not valid to correct this error following steps should be followed.
(i) Click the cell which displays error and see if it display a show calculation steps.
(ii)Review the possible causes.
(1)Deleted cell referred in the formula.
(2)Change formula to restore cells or undo.
(3)Use OLE (object linking + embedding for program that is not running
(4)Start the program
(5)Linking to correct DDE
Running macro that enter a function that return # REF !

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