MP Board Class 12th Accountancy Solution Important Questions with Answers

MP Board Class 12th Accountancy Solution Important Questions With Answers Guide Pdf Free Download लेखाशास्त्र in both Hindi Medium and English Medium are part of MP Board Class 12th Solutions. Here we have given NCERT Madhya Pradesh Syllabus MP Board Class 12 Accountancy Book Question Bank Solutions Lekhashastra Pdf.

Students can also download MP Board 12th Model Papers to help you to revise the complete Syllabus and score more marks in your examinations.

Class:12
Subject:Accountancy
Contents:Mp Board
MP Board Class 12th Accountancy Solution

MP Board Class 12th Accountancy Important Questions with Answers

MP Board Class 12th Accountancy : Not-for-Profit Organisation and Partnership Accounts Important Questions with Answers

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MP Board Class 12th Accountancy : Company Accounts and Analysis of Financial Statements Important Questions with Answers

MP Board Class 12th Accountancy Solution

MP Board Class 12th Accountancy Syllabus and Marking Scheme

Latest Syllabus and Marks Distribution Accountancy Class XII for the academic year 2019 – 2020 Examination.

Accountancy
Class XII

Time : 3 Hours.
Maximum Marks: 100

Unit Wise Division of Marks

UnitsChaptersMarks
Part ANot-for-Profit Organisation and Partnership Accounts
Unit 1. Accounting for Partnership Firms35
Unit 2. Accounting for Companies25
60
Part BCompany Accounts and Analysis of Financial Statements
Unit 3. Analysis of Financial Statements12
Unit 4. Cash Flow Statement8
20
Part CProject Work20
OR
Part BComputerized Accounting
Unit 3. Computerized Accounting20
Part CPractical Work20
MP Board Class 12th Accountancy Solution

Part A: Accounting for Partnership Firms and Companies

Unit 1 Accounting for Partnership Firms

  • Partnership: features, Partnership Deed.
  • Provisions of the Indian Partnership Act 1932 in the absence of partnership deed.
  • Fixed v/s fluctuating capital accounts.Preparation of Profit and Loss Appropriation account- division of profit among partners, guarantee of profits.
  • Past adjustments (relating to interest on capital, interest on drawing, salary and profit sharing ratio).
  • Goodwill: nature, factors affecting and methods of valuation – average profit, super profit and capitalization.

Note: Interest on partner’s loan is to be treated as a charge against profits.

Accounting for Partnership firms – Reconstitution and Dissolution.

  • Change in the Profit Sharing Ratio among the existing partners – sacrificing ratio, gaining ratio, accounting for revaluation of assets and reassessment of liabilities and treatment of reserves and accumulated profits. Preparation of revaluation account and balance sheet.
  • Admission of a partner – effect of admission of a partner on change in the profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, treatment of reserves and accumulated profits, adjustment of capital accounts and preparation of balance sheet.
  • Retirement and death of a partner: effect of retirement / death of a partner on change in profit sharing ratio, treatment of goodwill (as per AS 26), treatment for revaluation of assets and reassessment of liabilities, adjustment of accumulated profits and reserves, adjustment of capital accounts and preparation of balance sheet. Preparation of loan account of the retiring partner.
    Calculation of deceased partner‟s share of profit till the date of death. Preparation of deceased partner‟s capital account, executor‟s account and preparation of balance sheet.
  • Dissolution of a partnership firm: types of dissolution of a firm. Settlement of accounts -preparation of realization account, and other related accounts: capital accounts of partners and cash/bank a/c (excluding piecemeal distribution, sale to a company and insolvency of partner(s)).

Unit 2 Accounting for Companies

Accounting for Share Capital

  • Share and share capital: nature and types.
  • Accounting for share capital: issue and allotment of equity shares, private placement of shares, Employee Stock Option Plan (ESOP). Public subscription of shares – over subscription and under subscription of shares; issue at par and at premium, calls in advance and arrears (excluding interest), issue of shares for consideration other than cash.
  • Concept of Private Placement and Employee Stock Option Plan (ESOP).
  • Accounting treatment of forfeiture and re-issue of shares.
  • Disclosure of share capital in company‟s Balance Sheet.

Accounting for Debentures

  • Debentures: Issue of debentures at par, at a premium and at a discount. Issue of debentures for consideration other than cash; Issue of debentures with terms of redemption; debentures as collateral security-concept, interest on debentures.
  • Redemption of debentures: Lump sum, draw of lots and purchase in the open market (excluding ex-interest and cum-interest). Creation of Debenture Redemption Reserve.
  • Conversion method.

Note: Related sections of the Indian Companies Act, 2013 will apply.

Part B: Financial Statement Analysis

Unit 3: Analysis of Financial Statements

  • Financial statements of a company: Statement of Profit and Loss and Balance Sheet in the prescribed form with major headings and sub headings (as per Schedule III to the Companies Act, 2013).
  • Financial Statement Analysis: Objectives, importance and limitations.
  • Tools for Financial Statement Analysis: Comparative statements, common size statements, cash flow analysis, ratio analysis.
  • Accounting Ratios: Objectives, classification and computation.
  • Liquidity Ratios: Current ratio and Quick ratio.
  • Solvency Ratios: Debt to Equity Ratio, Total Asset to Debt Ratio, Proprietary Ratio and Interest Coverage Ratio.
  • Activity Ratios: Inventory Turnover Ratio, Trade Receivables Turnover Ratio, Trade Payables Turnover Ratio and Working Capital Turnover Ratio.
  • Profitability Ratios: Gross Profit Ratio, Operating Ratio, Operating Profit Ratio, Net Profit Ratio and Return on Investment.

Unit 4: Cash Flow Statement

Meaning, objectives and preparation (as per AS 3 (Revised) (Indirect Method only)

Part B: Computerised Accounting

Unit 3: Computerised Accounting

Overview of Computerised Accounting System.

  • Introduction: Application in Accounting.
  • Features of Computerised Accounting System.
  • Structure of CAS.
  • Software Packages: Generic; Specific; Tailored.

Accounting Application of Electronic Spreadsheet.

  • Concept of electronic spreadsheet.
  • Features offered by electronic spreadsheet.
  • Application in generating accounting information – bank reconciliation statement; asset accounting; loan
  • repayment of loan schedule, ratio analysis
  • Data representation – graphs, charts and diagrams.

Using Computerized Accounting System.

  • Steps in installation of CAS, codification and Hierarchy of account heads, creation of accounts.
  • Data: Entry, validation and verification.
  • Adjusting entries, preparation of balance sheet, profit and loss account with closing entries and opening entries. Need and security features of the system.

Database Management System (DBMS)

  • Concept and Features of DBMS.
  • DBMS in Business Application.
  • Generating Accounting Information – Payroll.

We hope the given MP Board Class 12th Accountancy Important Questions with Answers Guide Pdf Free Download लेखाशास्त्र in both Hindi Medium and English Medium will help you. If you have any queries regarding NCERT Madhya Pradesh Syllabus MP Board Class 12 Accountancy Book Question Bank Solutions Lekhashastra Pdf, drop a comment below and we will get back to you at the earliest.

What is the full form of MPBSE?

MPBSE is the short form for Madhya Pradesh Board of Secondary Education. Hemant Singh

From where can you get all the details regarding the MP Board class 10 and 12 exams and its resources?

One of the best source to find all the study materials and exam resources is the official website, mpbse.nic.in. Meanwhile students can also access the resources for free from MP Board Exam Resources.

What are the marks needed to pass the MP Board Exams?

To be deemed passed, students need to score at least 33 per cent marks aggregate and in each subject in MPBSE class 10 and class 12 exams. In 2018, nearly 20 lakh students had registered for the exam of which, 7.69 lakh are from class 12 or HSSC, nearly 11.48 lakh are from class 10.

How can I check my MP Board ssc results?

Students can get online to mpbse.nic.in, the official website to check for their results. For more detailed steps to check out ssc results, check out

Where to Check MP Board 12th Result 2020?

After the formal declaration of the results, the scorecards will be available on the official website of the board i.e. mpresults.nic.in. It is often seen that the official website of the board shows technical errors on the result day due to the numerous users visiting the site at the same time. If such situation arises this year, we request the students to visit mp12.jagranjosh.com to make the process hassle-free. Students awaiting to check their MP Board Class 12th result 2020 should also keep all their required details handy for fast and easy access to the results. We here at JagranJosh understand the amount of pressure and anxiety the candidates undergo during result times, and thus, we strive to make the process of checking the MP Board Class 12 result very simple on the part of the students.

How to Check MP 12th Board Result 2020 – Important Steps

The MP Board 12th Result 2020 will be made available on the official website i.e. mpbse.nic.in once it is formally announced. Alternatively, the students will also be able to check their MP Board 12th Result 2020 on this page of jagranjosh.com. Our team at JagranJosh has designed the result page to provide instant MP Board Result 2020 with just three simple steps by providing as detailed below:
Step 1:Find the result link on this page or visit mp12.jagranjosh.com
Step 2:Enter all the necessary details asked in the form
Step 3:Click on the ‘Submit’ button
Upon submitting all the requisite details and clicking on the ‘Submit’ button, the MP Board 12th Result 2020 will be displayed on the screen. After checking the MP Board Class 12 result, the students can also download a digital copy in a PDF format or take a printout of their MPBSE Result 2020 for future reference.

Previous Year Statistics of MP 12th Board Result

Results always bring about anxiety and excitement to the students. One of the biggest concerns of the students is whether they will achieve the expected marks or not. Many students often set a wrong expectation and get disappointed later on. In order to ease the pressure from the students and to help them to set realistic expectations, we have provided some key insights from last year’s MP Board 12th Result below. We hope these numbers will be useful for the candidates.
MP Board 12th Result – Last Year’s Statistics
Total students appeared (Regular): 32 lakh
Overall pass percentage: 37%
Pass Percentage Among Girls: 76.31%
Pass Percentage Among Boys: 68.94%

About Madhya Pradesh Board of Secondary Education

The Madhya Pradesh Board which conducts the Class 10 and Class 12 examinations in the state was established under the Madhya Pradesh Secondary Education Act, 1965. The Board was formed to regulate and conduct the affairs of the secondary education in the state. The MP Board of Secondary Education (MPBSE) serves as an exam conducting body and it regulates the education policies in the affiliated schools. The MPBSE conducts annual board exams to evaluate the academic performance of students at the HSC and the HSSC levels. The first MP Board examinations were held in the year 1959-60, in which approximately 80,000 students participated. Since then, the MP Board has managed to raise the number of participants significantly to approximately 10 lakh in past few years. Each year lakhs of students participate in the MP Board 12 Examinations and MP Board 10 Examinations conducted by the MPBSEs.

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