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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 1 · Q20
Nandini, Shweta and Hiren were partners in a firm sharing profits and losses in the ratio of $\displaystyle 9$ : $\displaystyle 7$ : 4. On 1st April, $\displaystyle 2025$, Shweta retired. On the date of Shweta's retirement, there existed a balance of ₹ $\displaystyle 1,00,000$ in Workmen's Compensation Fund. Pass necessary journal entries for treatment of Workmen's Compensation Fund on Shweta's retirement in each of the following cases : (i) Claim on account of Workmen's Compensation was estimated at $\displaystyle 1,20$,000. (ii) Claim on account of Workmen's Compensation was estimated at $\displaystyle 80$,000. (iii) Claim on account of Workmen's Compensation was estimated at ₹ $\displaystyle 1,00$,000.
Marking-scheme solution
Books of Nandini, Shweta and Hiren
Journal
Date Particulars L. Dr. Cr.
F. Amount Amount
(₹) (₹)
$\displaystyle 2025$ (i)
Apr Workmen’s Compensation Fund A/c Dr. $\displaystyle 1,00,000$
$\displaystyle 1$ Revaluation A/c Dr. $\displaystyle 20,000$
To Provision/Claim for Workmen’s $\displaystyle 1,20,000$
Compensation A/c
(Workmen compensation claim estimated at
₹$\displaystyle 1,20,000$)
(ii)
,, $\displaystyle 1,00,000$
Workmen’s Compensation Fund A/c Dr.
To Provision/Claim for Workmen’s
Compensation A/c $\displaystyle 80,000$
To Nandini’s Capital A/c $\displaystyle 9,000$
To Shweta’s Capital A/c $\displaystyle 7,000$
To Hiren’s Capital A/c $\displaystyle 4,000$
(Workmen compensation claim estimated at
,,
₹$\displaystyle 80,000$ and balance transferred to partners’
capital A/cs)
(iii)
Workmen’s Compensation Fund A/c Dr. $\displaystyle 1,00,000$
To Provision/Claim for Workmen’s
Compensation A/c $\displaystyle 1,00,000$
(Workmen compensation claim estimated at
₹$\displaystyle 1,00,000$)
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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.