MP Board Class 12 Accountancy: Partnership Accounts – Top 10 Important Questions for 2026

What are the Most Important Questions in MP Board Class 12 Accountancy for 2026?

If you are preparing for the MP Board Class 12 Accountancy exam 2026, focusing on Partnership Accounts is the smartest strategy. This unit alone carries approximately 30-35 marks out of 100 in the board exam. Below, we have curated the top 10 most frequently asked questions from Partnership Accounts that have appeared repeatedly in previous years (2022-2025).

1. Question on Calculation of Interest on Capital

Question: A and B are partners sharing profits in the ratio of 3:2. Their capital accounts show balances of ₹2,00,000 and ₹1,50,000 respectively. Interest on capital is payable at 8% p.a. Calculate the interest on capital for both partners.

Solution: A’s Interest = ₹2,00,000 × 8% = ₹16,000. B’s Interest = ₹1,50,000 × 8% = ₹12,000. Journal entry: Debit Profit & Loss Appropriation A/c ₹28,000 and Credit A’s Capital A/c ₹16,000 and B’s Capital A/c ₹12,000. This question appears regularly in the MP Board 12th Accountancy paper (2022, 2024).

2. Question on Goodwill Valuation by Average Profit Method

Question: The profits of a firm for the last 3 years were: Year 1: ₹80,000, Year 2: ₹95,000, Year 3: ₹1,10,000. Calculate goodwill at 2 years purchase of average profit.

Solution: Average Profit = (80,000 + 95,000 + 1,10,000) / 3 = ₹95,000. Goodwill = ₹95,000 × 2 = ₹1,90,000. This is a 4-mark question type that was asked in the 2023 exam.

3. Question on Treatment of Goodwill on Admission of a Partner

Question: X and Y are partners sharing profits in 3:2. They admit Z for 1/4th share. Goodwill of the firm is valued at ₹2,40,000. Pass journal entries for goodwill treatment if Z brings his share of goodwill in cash.

Solution: Zs share of goodwill = ₹2,40,000 × 1/4 = ₹60,000. Journal Entry: Cash A/c Dr ₹60,000, To Goodwill A/c ₹60,000 (then distribute between X and Y in sacrificing ratio). This 6-mark question appeared in 2022, 2023, and 2025 papers.

4. Question on Revaluation Account on Admission

Question: On admission of a new partner, the following adjustments were needed: (i) Increase building by ₹50,000 (ii) Decrease stock by ₹12,000 (iii) Create provision for bad debts at 5% on debtors of ₹80,000. Prepare Revaluation Account.

Solution: Revaluation A/c shows Profit = ₹50,000 − ₹12,000 − ₹4,000 = ₹34,000. This profit is transferred to old partners capital accounts in their old ratio. This is an 8-mark question type very common in MP Board Class 12 Accountancy question papers.

5. Question on Calculation of New Profit Sharing Ratio

Question: A and B share profits in 5:3. C is admitted for 1/6th share. C acquires 1/12 from A and 1/12 from B. Calculate the new ratio.

Solution: As new share = 5/8 − 1/12 = 15/24 − 2/24 = 13/24. Bs new share = 3/8 − 1/12 = 9/24 − 2/24 = 7/24. Cs share = 1/6 = 4/24. New Ratio = 13:7:4.

6. Question on Retirement of a Partner — Adjustment of Reserves

Question: P, Q, and R are partners sharing profits in 2:2:1. R retires. The firm has General Reserve of ₹75,000. Pass journal entry for distribution of reserve.

Solution: Rs share of reserve = ₹75,000 × 1/5 = ₹15,000. Journal: General Reserve A/c Dr ₹75,000, To Ps Capital A/c ₹30,000, Qs Capital A/c ₹30,000, Rs Capital A/c ₹15,000. This was a 4-mark question in 2024.

7. Question on Dissolution of Partnership Firm

Question: On dissolution of a firm, assets (other than cash) realized ₹3,50,000. Total creditors were ₹1,20,000. Realization expenses were ₹10,000. Prepare Realization Account.

Solution: Realization A/c: Debit side — Assets transferred at book value, Credit side — Assets realized ₹3,50,000. Balance = Profit/Loss on realization transferred to partners capital accounts. This is an 8-mark question frequently asked in MP Board exams.

8. Question on Guarantee of Profit to a Partner

Question: X and Y enter into partnership. X contributes ₹3,00,000 and Y contributes ₹2,00,000. It is agreed that Y shall be guaranteed a profit of ₹40,000 per year. If the firm earns a profit of ₹84,000, how will it be distributed?

Solution: First distribute in capital ratio (3:2) → X gets ₹50,400, Y gets ₹33,600. Since Y got ₹33,600 but guaranteed ₹40,000, deficiency of ₹6,400 is borne by X. Final: X = ₹44,000, Y = ₹40,000.

9. Question on Journal Entries for Partners Drawings

Question: A partner withdraws ₹5,000 per month at the end of each month. Interest on drawings is charged at 10% p.a. Calculate the total interest for the year.

Solution: When drawings are made at month-end, average period = (12+1)/2 = 6.5 months. Total drawings = ₹60,000. Interest = ₹60,000 × 10% × 6.5/12 = ₹3,250.

10. Question on Admission of Partner — Capital Adjustment

Question: After all adjustments, the capitals of A and B are ₹1,20,000 and ₹80,000. They admit C for 1/5th share who brings ₹60,000 as capital. Calculate the new capitals of all partners based on Cs capital.

Solution: Total capital after C = 1,20,000 + 80,000 + 60,000 = ₹2,60,000. Cs share = 1/5 of total = ₹52,000 but brought ₹60,000. Excess ₹8,000 is treated as goodwill. As adjusted = ₹1,20,000, Bs = ₹80,000, Cs = ₹60,000.

Key Exam Preparation Tips

  • Focus on Partnership Accounts — it covers 30-35% of the paper every year
  • Practice journal entries — most 6-mark and 8-mark questions test journal accuracy
  • Master the format — MP Board gives marks for correct format (date, particulars, L.F., Dr/Cr columns)
  • Solve 5 years of previous papers — patterns repeat significantly
  • Time management — allocate 40 minutes to Partnership section (out of 3 hours)

Frequently Asked Questions (FAQ)

Is Partnership Accounts the most important chapter in MP Board Class 12 Accountancy?

Yes, Partnership Accounts is the highest-weightage unit in the MP Board Class 12 Accountancy syllabus. It covers Admission, Retirement, Dissolution, and Goodwill, totaling 30-35 marks out of 100.

What is the passing marks for MP Board Class 12 Accountancy 2026?

The passing marks in MP Board Class 12 Accountancy is 33 marks out of 100. However, scoring above 60 marks requires thorough preparation of numerical problems.

How many questions come from Partnership in MP Board Accountancy?

Typically 5-6 questions worth 30-35 marks come from Partnership Accounts in the MP Board 12th Accountancy exam. This includes one 8-mark, two 6-mark, and two 4-mark questions.

Where can I download MP Board Class 12 Accountancy previous year papers?

You can download free PDFs of MP Board Class 12 Accountancy previous year papers from mpboard.ai. All papers from 2020 to 2025 are available with solved solutions.

What is the book value of goodwill in partnership accounting?

Goodwill is an intangible asset representing the firms reputation and earning capacity. Methods to value goodwill include Average Profit Method, Super Profit Method, and Capitalization Method.

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