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Ashok and Vasu were… (Class 12 Accountancy 2026, Q4b)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 4(b)

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 4(b), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q4(b) · 1 mark · MCQAccounting for Partnership: Basic Concepts

Ashok and Vasu were partners in a firm sharing profits and losses in the ratio of 4 : 3. Their capitals on 31st March, 2025 were ₹ 3,00,000 and ₹ 3,75,000 respectively. During the year ended 31st March, 2025 Vasu withdrew ₹ 40,000 for his personal use and introduced ₹ 1,50,000 as additional capital in the business. Profit of the firm for the year ended 31st March, 2025 was ₹ 1,40,000. Vasu's capital in the beginning of the year was :

  1. (A)₹ 2,75,000
  2. (B)₹ 4,25,000
  3. (C)₹ 2,05,000
  4. (D)₹ 3,45,000

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

Write the capital account equation.

Hint 2

Reverse each item to get back to the opening balance.

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. Closing capital = opening + capital introduced + share of profit − drawings. Vasu's profit share = 1,40,000 × 3/7 = ₹ 60,000.

  2. Opening = 3,75,000 − 1,50,000 − 60,000 + 40,000 = ₹ 2,05,000. Option (C).

    1 mark

Answer: (C) ₹ 2,05,000

Where the marks are

  • Works back from closing capital (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Partnership: Basic Concepts, 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.