Skip to content

Munna and Sonu were… (Class 12 Accountancy 2026, Q10)

questionbuddy.in/q/cbse-12-accountancy-2026-67-5-1-q10-munna-sonu-partners-firm-sharing

AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 10

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 10, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q10 · 1 mark · MCQAccounting for Partnership: Basic Concepts

Munna and Sonu were partners in a firm sharing profits and losses in the ratio of 4 : 1. Their fixed capitals were ₹ 40,00,000 and ₹ 30,00,000 respectively. During the year ended 31st March, 2025, Munna withdrew ₹ 50,000 for personal use. Interest on drawings was to be charged @ 6% p.a. The journal entry for charging interest on Munna's drawings will be :

  1. (A)Interest on Drawings A/c Dr. 1,500; To Munna's Capital A/c 1,500
  2. (B)Munna's Capital A/c Dr. 1,500; To Interest on Drawings A/c 1,500
  3. (C)Interest on Drawings A/c Dr. 1,500; To Munna's Current A/c 1,500
  4. (D)Munna's Current A/c Dr. 1,500; To Interest on Drawings A/c 1,500

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

Fixed capital accounts are not touched by drawings or interest on them.

Hint 2

Use 6 months as the average period.

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. Dates are not given, so interest is for an average of 6 months: 50,000 × 6% × 6/12 = ₹ 1,500.

  2. Capitals are fixed, so interest on drawings is debited to the partner's Current Account: Munna's Current A/c Dr. ₹ 1,500 to Interest on Drawings A/c. Option (D).

    1 mark

Answer: (D) Munna's Current A/c Dr. ₹ 1,500; To Interest on Drawings A/c ₹ 1,500

Where the marks are

  • Interest ₹ 1,500 debited to Current A/c under fixed capitals (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 67/5/1: 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.