2022Class 12Set 67/1/140 marks12 questions
4 of its 12 questions are here. The rest have a figure or are still being checked, so for now they're only in the official PDF.
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Source: CBSE Board Examination 2022, Class 12 Accountancy (055), paper 67/1/1, published by CBSE. CBSE's ZIP of every set
State any two situations when compulsory dissolution of a partnership firm takes place.
Ajay, Vijay, Sanjay and Dhananjay are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. Vijay decided to retire from the firm. The Goodwill of the firm was valued at ₹ 12,00,000. Pass necessary journal entry for the treatment of Goodwill on Vijay’s retirement without opening goodwill account.
Vimal, Kamal and Nirmal were partners sharing profit & losses in the ratio of 3 : 2 : 1. Vimal died on 30th September, 2020. The partnership deed provides that the share of profit of the deceased partner till the date of his death was to be calculated on the basis of the average profits of the last three years. The profit for the last three years were : 2017-18 ₹ 70,000; 2018-19 ₹ 80,000; 2019-20 ₹ (60,000). Calculate Vimal’s share of profit till the date of his death and pass necessary journal entry for the same.
Pass journal entries for issue of debentures for the following transactions: