The Central Board of Secondary Education (CBSE) has recently published the latest CBSE Class 12 Marking Scheme 2020. It is released with the latest CBSE 12th Accountancy Sample Paper and contains answers of the Sample Paper. The new CBSE Marking Scheme of Class 12 Accountancy subject is explained with the help of the Sample Paper. After going through the Sample Paper & its Marking Scheme, students can easily understand the step marking which is to be followed during the evaluation of CBSE answer booklets. Students who want to score well in CBSE Class 12 Accountancy Paper are advised to analyse both the resources.

Content from CBSE Class 12 Accountancy Marking Scheme & Sample Paper:

Accountancy – Class XII

General Instructions:

i. This question paper contains two parts – A and B.

ii. Part A is compulsory for all.

iii. Part B has two options – Analysis of Financial Statements and Computerised Accounting.

iv. Attempt only one option of Part B.

v. All parts of a question should be attempted at one place.


(Accounting for Not-for-Profit Organizations, Partnership Firms and Companies)

1. How are the following items presented in financial statements of a Not-for- Profit organisation:-

(a) Tournament Fund- ₹ 80,000

(b) Tournament expenses- ₹ 14,000

Answer 1:


⇒CBSE Class 12 Accountancy Syllabus 2019-20 & Important Resources

⇒CBSE 12th Board Exam Date Sheet 2020: Check CBSE Class 12 Time Table 2020 for Science, Commerce, Arts

CBSE Sample Papers 2020 for 10th & 12th with Answers (Issued by CBSE)

2. At what rate is interest payable on the amount remaining unpaid to the executor of the deceased partner, in the absence of any agreement among partners, when (s)he opts for interest and not share of profit.

i. 12% p.a.

ii. 8% p.a.

iii. 6% p.a.

iv. 7.5%p.a

Answer 2: (c) 6% p.a

3. State the order of payment of the following, in case of dissolution of partnership firm.

(i) to each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner’ loan);

(ii) to each partner proportionately what is due to him on account of capital; and

(iii) for the debts of the firm to the third parties;

Answer 3: The correct order is

iii. for the debts of the firm to the third parties;

i. to each partner proportionately what is due to him/her from the firm for advances asdistinguished from capital (i.e. partner’ loan);

ii. to each partner proportionately what is due to him on account of capital

4. A and B are partners in a firm having a capital of ₹ 54,000 and ₹ 36,000 respectively. They admitted C for 1/3rd share in the profits C brought proportionate amount of capital. The Capital brought in by C would be:

i. ₹ 90,000

ii. ₹ 45,000

iii. ₹ 5,400

iv. ₹ 36,00

Answer 4:

(b) ₹ 45,000

5. Amit, a partner in a partnership firm withdrew ₹ 7,000 at the beginning of each quarter. For how many months would interest on drawings be charged?

Answer 5: 7 ½ months

6. Ankit, Unnati and Aryan are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5 with effect from 1st April,2018. They had the following balance in their balance sheet, passing necessary Journal Entry:

Particulars: Amount(₹)

Profit and loss Account (Dr):  60,500

Answer 6:


7. A and B are partners in a firm. They admit C as a partner with 1/5th share in the profits of the firm. C brings ₹ 4,00,000 as his share of capital. Calculate the value of C’s share of Goodwill on the basis of his capital, given that the combined capital of A and B after all adjustments is ₹ 10,00,000.

Answer 7:

8. Riyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8:7:5. On 2nd November 2018, Kavleen died. Kalveen’s share of profits till the date of her death was 1 calculated at₹ 9,375. Pass the necessary journal entry.

Answer 8:




For complete details, download sample paper and marking scheme from the links given below:-

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