Accountancy Problems Based on Real-Life Scenarios for CBSE Class 12 Half-Yearly Examination 2025
In the upcoming CBSE Class 12 Accountancy Half-Yearly Examination in 2025, students can expect to encounter case-based questions designed to test their comprehensive understanding of accounting principles and their ability to apply theoretical knowledge to practical scenarios.
Let's delve into some of these hypothetical business situations and real-world accounting dilemmas.
Case Study 1
A new partner, Ejaz, was admitted to the firm to bridge the shortfall in the required capital. Ejaz brought in Rs.80,00,000 as capital and an additional Rs.30,00,000 as premium for goodwill. The value of the goodwill of the firm is Rs.1,35,00,000. The correct journal entry for the distribution of Premium for Goodwill brought in by Ejaz is "Premium for Goodwill A/c Dr. 30,00,000 To Sania's Capital A/c 30,00,000".
Case Study 2
The primary source of income for the Star cricket academy, another case study, is subscription. The capital contributions of Ryan, Williams, and Sania are Rs.50,00,000, Rs.50,00,000, and Rs.80,00,000 respectively. The amount of subscription to be credited to the income and expenditure account is Rs.2,40,000.
Case Study 3
In this case study, the amount of Rs. 50,00,000 received from Mr Manohar towards building and mess should be transferred to the "Building Fund." The amount of Rs. 35,00,000 spent on construction of building should be reflected on the asset side of the balance sheet and as a deduction from the Building fund and addition to the capital fund.
Case Study 4
In the fourth case study, a not-for-profit organization prepares both the Income and Expenditure account and the Receipt and Payment account. The company issued a total of 2,99,800 equity shares. The share forfeiture would be reflected in the balance sheet as ₹600.
Case Study 5
Sterlingenterprises, a partnership business with Ryan, Williams, and Sania as partners, is another case study. The profit-sharing ratio of Ryan, Williams, and Sania is 5:5:8. However, with the admission of a new partner, Ejaz, the new profit-sharing ratio becomes 5:5:4:4.
In the fifth case study, shares issued to Ms. VPS Enterprises would be classified as "Issue for consideration other than cash." The size of the share capital of Nidiya Limited was increased by the amount corresponding to the shares issued to Ms. VPS Enterprises. The amount of security premium reflected in the balance sheet at the end of the year is ₹400.
