List of top Questions asked in CBSE CLASS XII

Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Maddy for \( \frac{1}{4} \)th share in future profits. Maddy brought Rs 8,00,000 as his capital and Rs 4,00,000 as his share of premium for goodwill. Kajal, Laura and Maddy decided to share profits in future in the ratio of 2 : 1 : 1. After all adjustments in respect of goodwill, revaluation of assets and liabilities etc. Kajal's capital was Rs 15,00,000 and Laura's capital was Rs 8,00,000. It was agreed that partners' capitals should be in proportion to their new profit sharing ratio taking Maddy's capital as base. The adjustment was made by bringing in or withdrawing the necessary cash as the case may be. The cash brought in by Kajal was :

Pulkit and Ravinder were partners in a firm sharing profits and losses in the ratio of 3 : 2. Sikander was admitted as a new partner for \( \frac{1}{5} \)th share in the profits of the firm. Pulkit, Ravinder and Sikander decided to share future profits in the ratio of 2 : 2 : 1. Sikander brought Rs 5,00,000 as his capital and Rs 10,00,000 as his share of premium for goodwill. The amount of premium for goodwill that will be credited to the old partners' capital accounts will be :

Eliza, Fenn and Garry were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. Fenn was guaranteed Rs 25,000 as his share in the profits. Any deficiency arising on that account was to be met by Eliza. The firm earned a profit of Rs 80,000 for the year ended 31st March, 2024. The amount of profit credited to Fenn's capital account will be :

Arun, Bashir and Joseph were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed \( \frac{1}{5} \)th from his share to Daksh, Daksh's share in the profits of the firm will be :

Identify the type of code used by a trading company Ms. Ahana Ltd.: \begin{center} \begin{tabular}{|c|l|} \hline Codes & Accounts
\hline CA005 & Super Ltd.
CA006 & Regina Ltd.
CA007 & Nasir \& Sons Ltd.
\hline \end{tabular} \end{center}

\textbf{Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule-III, Part-I of the Companies Act, 2013:

On 31st March, 2024 following is the Balance Sheet of Bhavik Limited: \textit{[Balance Sheet \& Notes Summary: See Thought Block Analysis]}
\textbf{Additional Information:

From the following information, prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2024: \begin{center} \begin{tabular}{l r r} \toprule Particulars & 2023-24 (Rs ) & 2022-23 (Rs )
\midrule Revenue from operations & 8,00,000 & 4,00,000
Cost of revenue from operations & 4,00,000 & 2,00,000
Employee benefit expenses & 1,60,000 & 80,000
Tax Rate & 50 & 50
% Assuming Tax Rate applies to both years \bottomrule \end{tabular} \end{center}

Statement-I: Snow Limited earned a profit of Rs 2,00,000 after charging depreciation of Rs 50,000 on machinery. So, operating profit before working capital changes would be Rs 2,50,000.
Statement-II: Depreciation is added back to net profit as it does not result in any cash flow.
Choose the correct option from the following:

Following is the extract of the Balance Sheet of Vikalp Ltd. as per Schedule-III, Part-I of Companies Act as at 31st March, 2024 along with Notes to accounts: \vspace{0.3cm} \includegraphics[scale=1.0]{3.png} Answer the following questions: \vspace{0.3cm} (i) The total face value of equity shares issued during the year 2023-2024 was:

Bittu and Chintu were partners in a firm sharing profit and losses in the ratio of 4:3. Their Balance Sheet as at 31st March, 2024 was as follows: \includegraphics[scale=1.0]{2.png} On 1st April, 2024, Diya was admitted in the firm for \( \frac{1{7} \)th share in the profits on the following terms: