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Accountancy · 2026 · 1 mark
CBSE 2026 · Region 5 · Set 3 · Q14
John, Honey and Racob were partners in a firm sharing profits and losses equally. On 31st July, 2025 John died. His share in the profits of the firm…
John, Honey and Racob were partners in a firm sharing profits and losses equally. On 31st July, $\displaystyle 2025$ John died. His share in the profits of the firm from the date of last balance sheet till the date of his death will be :
Shashi, Maya and Komal were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. On 31st March, $\displaystyle 2025$ Komal retired. The new profit sharing ratio between Shashi and Maya was decided as $\displaystyle 3$ : 5. The gain or sacrifice of Shashi and Maya on Koral's retirement was : $\displaystyle 13$ $\displaystyle 1$
Official answer
(a) → (C)
(b) → (A)
Marking-scheme solution
(C)
Debited to Profit and Loss Suspense Account
OR
Q. (b) Shashi, Maya and Komal were partners in a firm sharing …………….
Ans. (A) Shashi’s sacrifice $\displaystyle 1$/$\displaystyle 8$; Maya’s gain $\displaystyle 13$/$\displaystyle 40$
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CBSE Class 12 Accountancy past-paper question from the 2026 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.