CBSE Class 12 Accountancy Answer Key 2026 (Unofficial) – Complete Question Paper Solution

The CBSE Class 12 Accountancy Exam 2026 concluded recently, and students across the country are eager to check their responses. To help you assess your performance, here’s the unofficial answer key and complete solution for Part A – Accounting for Partnership Firms and Companies. This key is compiled from expert analyses and student discussions after the exam.

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Post Title	Last Date to Apply
SBI CBO ನೇಮಕಾತಿ 2026 2273 ಪೋಸ್ಟ್‌ಗಳಿಗೆ ಅಧಿಸೂಚನೆ ಹೊರಬಿದ್ದಿದೆ – ಆನ್‌ಲೈನ್‌ನಲ್ಲಿ ಅನ್ವಯಿಸಿ @ sbi.bank.in	February 25, 2026
IIM ಬೆಂಗಳೂರು ನೇಮಕಾತಿ 2026 ರೆಸಿಡೆಂಟ್ ಹಾಸ್ಟೆಲ್ ವಾರ್ಡನ್ ಹುದ್ದೆಗೆ ಆನ್‌ಲೈನ್‌ನಲ್ಲಿ ಅರ್ಜಿ ಸಲ್ಲಿಸಿ	February 28, 2026
CCRH Delhi Group A, B, C Posts Online Form 2025	November 25, 2026

Part A: Accounting for Partnership Firms and Companies

Q1. Arora and Gurmeet — Interest on Drawings

• Calculation: Total drawings = ₹ 60,000, average period = 4.5 months

• Interest = ₹ 60,000 × 12 % × 4.5 / 12 = ₹ 2,700
  
  Correct Answer: (B) ₹ 2,700

Q2. Assertion–Reason (Admission of a Partner)

Q3. Share Forfeiture – Minimum Reissue Price

• 6,000 shares of ₹ 10 each forfeited for non‑payment of final call ₹ 3.

• Minimum reissue price = Unpaid amount (₹ 3).
  
  Correct Answer: (A) ₹ 3

Q4. Distribution of Accumulated Profits

• Old ratio = 7 : 3; P&L Balance ₹ 40,000.

• Entry: Profit and Loss A/c Dr. ₹ 40,000 → Guru ₹ 28,000, Prakash ₹ 12,000.
  
  Correct Answer: (B)

Q5. Goodwill and Average Profit Calculation

• Goodwill ₹ 4,00,000 for 4 years’ purchase → Super profit ₹ 1,00,000.

• Normal profit = ₹ 6,00,000 × 15 % = ₹ 90,000.

• Average profit = ₹ 1,90,000.
  
  Correct Answer: (D) ₹ 1,90,000

Q6. Reserve Capital

Q8. Partner’s Loan Interest (No Deed)

• ₹ 2,00,000 loan for 3 months @ 6 % p.a. = ₹ 3,000.
  
  Correct Answer: (C) ₹ 3,000

Q9. Gaining Ratio on Retirement

• Sudama, Sharma, Varun = 6 : 4 : 3; Sharma retires.

• Gaining ratio of Sudama and Varun = 6 : 3 = 2 : 1.
  
  Correct Answer: (A) 2 : 1

Q10. Interest on Drawings under Fixed Capital Method

• Munna & Sonu = 4 : 1; Drawings ₹ 50,000 @ 6 % = ₹ 1,500.

• Entry: Munna’s Current A/c Dr. ₹ 1,500 → Interest on Drawings A/c ₹ 1,500.
  
  Correct Answer: (D)

Q13. Debenture Issue for Purchase Consideration

• Assets ₹ 3,30,000; Liabilities ₹ 80,000; Consideration ₹ 4,50,000.

• Debentures of ₹ 50 at 10 % discount (issue price ₹ 45).

• Number = ₹ 4,50,000 / 45 = 10,000.
  
  Correct Answer: (D) 10,000

Q14. Forfeiture of Shares

Exam Paper Review

The 2026 CBSE Class 12 Accountancy paper was considered moderate to slightly lengthy by most students. Numerical problems tested understanding of partnership adjustments, share forfeiture entries, goodwill calculations, and conceptual application of accounting theory.

Questions such as interest on drawings, reserve capital, and gaining ratio were direct, while computations involving goodwill and debenture issue required careful calculation.

Disclaimer

This is an unofficial answer key prepared for students’ reference. The final and official marking scheme will be released by CBSE after evaluation. Students should cross‑verify answers with their teachers for confirmation.