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Sameer and Manveer were… (Class 12 Accountancy 2026, Q18b)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 3 marks · Short answer

CBSE Class 12 Accountancy 2026: question 18(b)

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 18(b), for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q18(b) · 3 marks · Short answerReconstitution of a Partnership Firm – Admission of a Partner

Sameer and Manveer were partners in a firm sharing profits and losses in the ratio of 5 : 3. On 1st April, 2024, they admitted Sandeep as a new partner for 1/5th share in the profits with a guaranteed minimum amount of ₹ 80,000. Sameer and Manveer continue to share profits as before but agreed to bear any deficiency on account of guarantee to Sandeep in the ratio of 3 : 5. The net profit of the firm for the year ended 31st March, 2025 was ₹ 3,20,000.

Prepare Profit and Loss Appropriation Account of Sameer, Manveer and Sandeep for the year ended 31st March, 2025.

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

First share ₹ 3,20,000 in 5 : 3 : 2 (Sandeep 1/5).

Hint 2

The deficiency is borne 3 : 5, not 5 : 3.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Sandeep's 1/5 of ₹ 3,20,000 = ₹ 64,000, short of his ₹ 80,000 guarantee by ₹ 16,000, borne 3 : 5 (Sameer ₹ 6,000, Manveer ₹ 10,000). The remaining 4/5 = ₹ 2,56,000 is shared 5 : 3: ₹ 1,60,000 and ₹ 96,000.

    1 mark

  2. Profit and Loss Appropriation Account for the year ended 31st March, 2025

    Particulars₹Particulars₹
    To Sameer's Capital A/c (1,60,000 − 6,000)1,54,000By Profit and Loss A/c (net profit)3,20,000
    To Manveer's Capital A/c (96,000 − 10,000)86,000
    To Sandeep's Capital A/c (64,000 + 6,000 + 10,000)80,000
    3,20,0003,20,000
    2 marks

Answer: Sameer ₹ 1,54,000, Manveer ₹ 86,000, Sandeep ₹ 80,000 (deficiency ₹ 16,000 borne 3 : 5)

Where the marks are

  • Shares and deficiency (1 mark)
  • Appropriation account with final shares (2 marks)

Revise the chapter

Practise this chapterBoard-style questions from Reconstitution of a Partnership Firm – Admission of a Partner, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.