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Accountancy · 2026 · 3 marks
Reconstitution of a Partnership Firm – Retirement/Death of a PartnerAdjustment of Accumulated Profits and Losses3 marksshort answer
CBSE 2026 · Region 5 · Set 3 · Q20
Diksha, Raj and Amit were partners in a firm sharing profits and losses in the ratio of $\displaystyle 6$ : $\displaystyle 3$ : 1. On 1st pril, $\displaystyle 2025$ Amit retired. On the date of Amit's retirement, there existed a balance of T $\displaystyle 90,000$ in Workmen's Compensation Fund. Pass the necessary journal entries for treatment of Workmen's Compensation Fund on Amit's retirement in each of the following cases : (i) Claim on account of Workmen's Compensation was estimated at ₹ $\displaystyle 1,00$,000. (ii) Claim on account of Workmen's Compensation was estimated at $\displaystyle 70$,000. (iii) Claim on account of Workmen's Compensation was estimated at $\displaystyle 90$,000.
Marking-scheme solution
Books of Diksha, Raj and Amit
Journal
Date Particulars L. Dr. Cr.
F. Amount Amount
(₹) (₹)
$\displaystyle 2025$ (i)
Apl1 Workmen’s Compensation Fund A/c Dr. $\displaystyle 90,000$
Revaluation A/c Dr. $\displaystyle 10,000$
To Provision/Claim for Workmen’s $\displaystyle 1,00,000$
Compensation A/c
(Workmen compensation claim estimated at
₹$\displaystyle 1,00,000$)
,, (ii)
Workmen’s Compensation Fund A/c Dr.
To Provision/Claim for Workmen’s $\displaystyle 90,000$
Compensation A/c
To Diksha’s Capital A/c $\displaystyle 70,000$
To Raj’s Capital A/c $\displaystyle 12,000$
To Amit’s Capital A/c $\displaystyle 6,000$
,, (Workmen compensation claim estimated at $\displaystyle 2,000$
₹$\displaystyle 70,000$ $\displaystyle 000$ and balance transferred to partners’
capital A/cs)
(iii)
Workmen’s Compensation Fund A/c Dr.
To Provision/Claim for Workmen’s $\displaystyle 90,000$
Compensation A/c $\displaystyle 90,000$
(Workmen compensation claim estimated at
₹$\displaystyle 90,000$)
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CBSE Class 12 Accountancy past-paper question from the 2026board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.