List of top Questions asked in CBSE CLASS XII

Suhas and Vilas were partners in a firm with capitals of Rs 4,00,000 and Rs 3,00,000 respectively. They admitted Prabhas as a new partner for \( \frac{1}{5} \)th share in future profits. Prabhas brought Rs 2,00,000 as his capital. Prabhas' share of goodwill will be :

Ridyum Limited issued 5,000, 9\% debentures of Rs 500 each at a premium of 10\%. The amount was payable as follows:
On Application - Rs 200 per debenture
On Allotment – Balance (including premium)
The debentures were fully subscribed and all amounts were duly received. Pass the necessary journal entries for issue of debentures in the books of Ridyum Limited.

“Where there is a will, there is a way.” The above saying aptly describes the character of Douglas from ‘Deep Water’ and Mukesh from ‘Lost Spring’. Compare and contrast their characters in terms of their courage, determination, and the pursuit of their goals.

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:

On 1st April, 2024, Diya was admitted in the firm for \( \frac{1}{7} \)th share in the profits on the following terms:

(i) New profit sharing ratio between Bittu, Chintu and Diya was 3 : 3 : 1 .
(ii) Fixed Assets were found to be overvalued by ₹ 1,40,000.
(iii) Creditors were paid ₹ 4,20,000 in full settlement.
(iv) Diya brought proportionate capital and ₹ 5,60,000 as her share of goodwill premium by cheque.

Prepare Revaluation Account and Partners' Capital Accounts.

Match List – I with List – II: 1