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Accountancy · 2026 · 3 marks
Reconstitution of a Partnership Firm – Retirement/Death of a PartnerDeath of a Partner3 marksshort answer
CBSE 2026 · Region 3 · Set 1 · Q17
Tara, Meera and Neera were partners in a firm sharing profits and losses equally. Their capitals on 1st April, 2025 were ₹ 4,00,000; ₹ 3,00,000 and ₹…
Tara, Meera and Neera were partners in a firm sharing profits and losses equally. Their capitals on 1st April, $\displaystyle 2025$ were ₹ $\displaystyle 4,00,000$; ₹ $\displaystyle 3,00,000$ and ₹ $\displaystyle 2,00,000$ respectively. The firm closes its books on 31st March every year. Tara died on 30th June, 2025. The partnership deed provides that in the event of death of a partner, her legal representatives will be entitled to the following : (i) Interest on capital @ $\displaystyle 6$% p.a. (ii) Her share in the profits of the firm till the date of her death. Tara had withdrawn ₹ $\displaystyle 8,000$ for her treatment till 30th June, $\displaystyle 2025$ and interest on drawings @ $\displaystyle 12$% p.a. is to be charged. Her share in the profits of the firm was to be calculated on the basis of last year's profit. Last year's profit amounted to ₹ $\displaystyle 1,80$,000. Prepare Tara's Capital Account to be presented to her legal representatives on her death.
Marking-scheme solution
Dr. Tara’s Capital A/c Cr.
Date Particulars Amount Date Particulars Amount
(₹) (₹)
$\displaystyle 2025$ $\displaystyle 2025$
June $\displaystyle 30$ To Drawings A/c $\displaystyle 8,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 4,00,000$
June $\displaystyle 30$ To Interest on $\displaystyle 120$ June $\displaystyle 30$ By Interest on $\displaystyle 6,000$
Drawings A/c Capital A/c
June $\displaystyle 30$
To Tara’s Legal
June $\displaystyle 30$ By P&L Suspense A/c
$\displaystyle 15,000$
Representatives
$\displaystyle 4,12,880$
/Executors A/c
$\displaystyle 4,21,000$ $\displaystyle 4,21,000$
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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.