NCERT Solutions Class 12 Accountancy Chapter -1 (Accounting for Not-for-Profit Organisation)

NCERT Solutions Class 12 Accountancy from class 12th Students will get the answers of Chapter-1 (Accounting for Not-for-Profit Organisation) This chapter will help you to learn the basics and you should expect at least one question in your exam from this chapter.

We have given the answers of all the questions of NCERT Board Accountancy Textbook in very easy language, which will be very easy for the students to understand and remember so that you can pass with good marks in your examination.

NCERT Question-Answer

Class 12 Accountancy

Chapter-1 (Accounting for Not-for-Profit Organisation)

Questions and answers given in practice

Chapter-1 (Accounting for Not-for-Profit Organisation)

Question 1.
Differentiate between ‘Receipts and Payments Account’ and ‘Income and Expenditure Account’ on the basis of ‘Period’. (All India 2019)
Answer:

Basis	Receipts and Payments Account	Income and Expenditure Account
Period	It may relate to preceding are succeeding periods.	It’s items relate only to the current period.

Question 2.
What is meant by ‘Life membership fees’? (All India 2019)
Answer:
Life membership fee is the lumpsum amount paid by members instead of paying periodic subscription.

Question 3.
State the main aim of a not-for-profit organisation. (All India 2019)
Answer:
Such organisations are formed to provide services such as education, health care, recreation, etc free of cost or at nominal cost.

Question 4.
How is life membership fee treated while preparing the financial statements of a not-for-profit organisation? (All India 2019)
Answer:
It will be added to capital fund on the liabilities side of balance sheet.

Question 5.
How are specific donations treated while preparing final accounts of a ‘Not-for-Profit Organisation’? (Delhi 2019)
Answer:
Specific donations are recorded on receipt side of receipts and payments account and liabilities side in the balance sheet.

Question 6.
State the basis of accounting of preparing ‘Income and Expenditure Account’ of a ‘Not-for-Profit Organisation’. (Delhi 2019)
Answer:
It is prepared following accrual basis of accounting.

Question 7.
Not-for-profit organisations have some distinguishing features from that of profit organisations. State any one of them.
Answer:
Such organisations are formed not to earn profits but to provide service such as education, healthcare, recreation, sports, etc either free of cost, or at nominal cost.

Question 8.
Give two main sources of income of not-for-profit organisations. (Delhi 2013)
Answer:
Two main sources of their income are

• Subscriptions from their members
• Membership fees/entrance fees

Question 9.
Name any two financial statements required to be prepared by not-for-profit organisations at the end of the year. (All India 2010)
Answer:

• Income and expenditure account
• Balance sheet

Question 10.
Unrestricted funds raised by non-profit organisations through various sources are credited to which account?
Answer:
Fund raised by non-profit organisations through various sources are credited to ‘Capital Fund’ or ‘General Fund’.

Question 11.
What is the capital of a non-profit organisation generally known as?
Answer:
Accumulated fund or Capital fund.

Question 12.
From the following information, calculate the amount of subscriptions received by Happy Sports Club during the year ended 31st March, 2018.

Particulars	31.03.2017 (Rs)	31.03.2018 (Rs)
Advance subscription	3,000	4,500
Outstanding subscription	4,500	6,000

The Club has 2,000 members each paying an annual subscription of Rs 500. (All India 2019)
Answer:

Question 13.
Calculate the amount of stationery to be debited to ‘Income and Expenditure Account’ of New Friends Club for the year ended 31st March, 2018. Also present the relevant information in the Balance Sheet of the Club as at 31st March, 2018.

Particulars	31st March, 2017 (Rs)	31st March, 2018 (Rs)
Stock of stationery	+25,000	-40,000
Creditors for stationery	-30,000	+19,000

During the year Rs 46,000 were paid to the creditors for stationery and stationery of Rs 6,000 was purchased in cash. (All India 2019)

Question 14.
From the following information, calculate the amount of ‘Sports Material’ to be debited to Income and Expenditure Account of Young Football Club for the year ended 31st March, 2018.

Particulars	Amt (Rs)
Opening stock of sports material	21,000
Closing stock of sports material	24,000
Opening creditors of sports material	23,500
Closing creditors of sports material	27,000

During the year, the creditors for sports material were paid ₹ 1,10,000. (Delhi 2019)
Answer:
Calculation of Sports Material to be Debited to Income and Expenditure Account.

Question 15.
From the following information, calculate the amount of sports material consumed by Durga Sports Club for the year ended 31st March, 2018.

Particulars	31.3.2017 (Rs)	31.3.2018 (Rs)
Balance of sports material	87,000	1,07,000
Creditors for sports material	2,39,000	3,41,000

During the year, sports material purchased was ₹ 4,94,000. (All India 2019)
Answer:

Question 16.
From the following information, calculate the amount of stationery consumed by Shree Club for the year ended 31st March, 2018.

Particulars	31.3.2017 (Rs)	31.3.2018 (Rs)
Balance of stationery	24,000	29,500
Creditors for stationery	2,09,000	1,95,000

During the year, creditors were paid ₹ 3,00,000. (All India 2019)
Answer:

Question 17.
From the following information, calculate the amount of medicines to be debited to ‘Income and Expenditure Account’ of a Charitable Hospital for the year ended 31st March, 2018. Also present the relevant information in the Balance Sheet of the hospital; as at 31st March, 2018.

Particulars	31st March, 2017 (Rs)	31st March, 2018 (Rs)
Stock of medicines	8,00,000	15,00,000
Creditors for medicines	6,00,000	8,00,000

Cash paid to the creditors of medicines during the year was ₹ 25,00,000. (All India 2019)
Answer:

Question 18.
Janta Kalayan Club has 1,250 members each paying an annual subscription of? 150. During the year ended 31st March, 2018 the club did not receive subscription from 45 members and received subscriptions in advance from 46 members for the year ending 31st March, 2019. On 31st March, 2017 the outstanding subscriptions were ₹ 15,000 and subscriptions received in advance were ₹ 3,000.
Calculate the amount of subscription that will be debited to the Receipts and Payments Account for the year ended 31st March, 2018. (All India 2019)
Answer:
Calculation of amount of subscription received for the year ended 31st March, 2018

Question 19.
How the following items for the year ended 31st March, 2018 will be presented in the financial statements of Aisko Club.

Particulars	Amt (Rs)	Amt (Rs)
Tournament Fund	–	1,50,000
Tournament Fund Investments	1,50,000	–
Income from Tournament Fund Investments	–	18,000
Tournament Expenses	12,000	–

Additional Information:
Interest accrued on tournament fund investments Rs 6,000. Delhi 2019
Answer:

Question 20.
Present the following information for the year ended 31st March, 2018 in the financial statements of a not-for-profit organisation. (Delhi 2019)

Particulars	Amt (Rs)
Opening Balance of Match Fund	5,00,000
Sale of Match Tickets	3,75,000
Donations for Match Fund received during the year	1,24,000
Match Expenses	10,00,000

Answer:

NOTE As match expenses are greater than match fund.
Excess amount of expenses will be charged from income and expenditure account.

Question 21.
From the following information, calculate the amount of subscriptions outstanding as at 31st March, 2009. (All India 2010)
A club has 250 members each paying an annual subscription of ₹ 1,000. The receipts and payments account for the year showed a sum of ₹ 2,65,000 received as subscriptions. The following additional information is provided
Subscriptions outstanding on 31st March, 2008 – 40000
Subscriptions received in advance on 31st March, 2009 – 30000
Subscriptions received in advance on 31st March, 2008 – 12000
Answer:

Question 22.
From the following information, calculate the amount of subscriptions outstanding as at 31st March, 2009. (All India 2010)
A club has 250 members each paying an annual subscription of ₹ 1,000. The receipts and payments account for the year showed a sum of ₹ 2,05,000 received as subscriptions. The following additional information is provided
Subscriptions outstanding on 31st March, 2008 – 30,000
Subscriptions received in advance on 31st March, 2009 – 40,000
Subscriptions received in advance on 31st March, 2008 – 14,000
Answer:
Solve as Q. No. 21 on page 12 and 13. Subscriptions outstanding as on 31st March, 2009 ₹ 51,000.

Question 23.
State the meaning of non-profit organisation, (NCERT)
Answer:
Not-for-profit organisations are those organisations whose objective is not to earn profit but to provide services to its members and to the society. These organisations are set up for the welfare of the society as a whole, rather than for the benefit of any one individual and are set up for the purpose of promoting culture, art, religion, education, etc. e.g. Clubs, hospitals, libraries, schools, societies for promotion of sports, arts and culture, etc.

Question 24.
What is the capital fund? How is it calculated? (NCERT)
Answer:
In case of not-for-profit organisation, capital fund can be considered as excess of its assets over its liabilities. Any surplus or deficit ascertained from income and expenditure account is added to (deducted from) the capital fund. This is also termed as accumulated fund.

Question 25.
What is subscription? How is it calculated? (NCERT)
Answer:
It is the membership fee paid by the members on annual basis. It is the main source of income of non-profit organisations.

Question 26.
Show the treatment of the following items by a not-for-profit organisation. (NCERT)
(i) Annual subscription
(ii) Specific donation
(iii) Sale of fixed assets
(iv) Sale of old periodicals
(v) Sale of sports material
(vi) Life membership fees
Answer:
(i) Annual subscription is shown on the credit side of income and expenditure account.
(ii) It is to be capitalised and shown on the liabilities side of balance sheet.
(iii) Amount received from sale of old assets is debited to receipts and payments account. Any profit on sale of asset is credited and any loss on sale of asset is debited to income and expenditure account.
(iv) Amount realised from the sale of periodicals should be shown on the credit, i.e. income side of income and expenditure account.
(v) It is shown as an income in the income and expenditure account of a sports club.
(vi) It is treated as a capital receipt and added to the capital fund/general fund on the liabilities side of balance sheet, or is shown as a separate head in the liabilities side.

Question 27.
Distinguish between not-for-profit organisations and profit earning organisations.
Answer:
The differences between not-for-profit organisations and profit earning organisations are

Basis	Not-for-Profit Organisations	Profit Earning Organisations
Motive	The main motive of such organisations is to provide services.	The main motive of such organisations is to earn profit.
Funds	The funds of such organisations are represented by the general fund comprising of donations, subscriptions, surplus, etc.	In profit earning organisations, fund is represented by capital contributions by proprietors and accumulated reserves.
Financial Statements	Financial statements of these organisations comprise of receipt and payment account, income and expenditure account and balance sheet.	Financial statements of these organisations include manufacturing account, trading account, profit and loss account and balance sheet.
Surplus/Profit	The balance of income and expenditure account is either surplus or deficit.	The balance of the profit and loss account is either net profit or net Joss.
Distribution of Profit	Surplus or deficit is not distributed among its members. It is adjusted in capital fund.	Profit or loss is distributed among the owners of the business.
Capital vs Capital Fund	These organisations maintain a capital fund account instead of capital account.	These organisations maintain a capital account.

Question 28.
Is entrance/admission fees a revenue receipt?
Answer:
Yes, it is a revenue receipt.

Question 29.
State the nature of receipts and payments account.
Answer:
It is a real account.

Question 30.
Name the account which shows the classified summary of transactions of a cash book in a not-for-profit organisation.
Answer:
Receipts and payments account.

Question 31.
Why adjustments for outstanding expenses, prepaid expenses or depreciation are not made in the receipts and payments account?
Answer:
Adjustments for outstanding expenses, prepaid expenses or depreciation are not made in the receipts and payments account because receipts and payment account is prepared on cash basis of accounting.

Question 32.
State the basis of accounting, on which a receipts and payments account is prepared in case of not-for-profit organisation. (All India 2011)
Answer:
It is prepared on cash basis of accounting.

Question 33.
Can the balance in receipts and payments account be treated as income of the period?
Answer:
No, as the balance in receipts and payments account is closing cash and bank balance.

Question 34.
Every receipt and payment, whether capital or revenue and irrespective of the period is recorded in receipts and payments account. Why? Give reason.
Answer:
It is so because receipts and payments account is prepared on cash basis of accounting.

Question 35.
Explain the statement, ‘receipts and payments account is a summarised version of cash book’.
Answer:
Receipts and payments account is a summary of the cash book. This account is generally prepared by non-profit organisations. All cash receipts are recorded on the receipts side (i.e. debit side) and all cash payments are recorded on the payments side (i.e. credit side) of receipts and payments account. It begins with the opening balance of cash and bank and ends with the closing balances of cash and bank (balancing figure) at the end of the accounting period. It records all the cash and bank transactions, both of capital and revenue nature, which may relate not only to the current period but also to the previous or next accounting period. This account helps an NPO in ascertaining closing cash balance. It is referred to assummarised version of cash book.

Question 36.
What are the features of receipts and payments account?
Answer:
The features of receipts and payments account are

• Nature Receipts and payments account is a real account in nature.
• Period In this account, all receipts and payments, irrespective of the period to which they pertain, are shown.
• Capital and Revenue All cash receipts and cash payments whether of capital nature or of revenue nature are included.
• Banking Transactions Receipts/payments made through bank are also recorded.
• Non-cash Items Non-cash items such as depreciation, outstanding expenses, accrued income, etc., are not shown in this account.
• Opening and Closing Balance It begins with opening balance of cash in hand and cash at bank or bank overdraft and closes with the year end balance of cash in hand and cash at bank or bank overdraft.

Question 37.
From the following particulars relating to Royals Club, New Delhi, prepare a receipts and payments account for the year ending 31st March, 2016.

Answer:

Question 38.
Where is general donation received shown in the final accounts of a non-profit organisation?
Answer:
It is shown on the credit side of the income and expenditure account.

Question 39.
Where will you record the life membership fees while preparing the final accounts of non-profit organisation?
Answer:
It will be added to capital fund on the liabilities side of balance sheet.

Question 40.
Income and expenditure account is prepared following which basis of accounting?
Answer:
It is prepared following accrual basis of accounting.

Question 41.
State the nature of income and expenditure account. (All India 2010)
Answer:
It is a nominal account.

Question 42.
Write one difference between ‘receipts and payments account’ and ‘income and expenditure account’.
Answer:
Receipts and payments account is prepared on cash basis and the income and expenditure account is prepared on accrual basis of accounting.

Question 43.
Receipts and payments account and income and expenditure account have a similarity between them. State the similarity.
Answer:
Both are prepared by non-profit organisations.

Question 44.
How is capital fund of a non-profit organisation calculated if it is not given in the question?
Answer:
Capital fund is calculated by preparing an opening balance sheet.

Question 45.
What is the amount or property received by a non-profit organisation as stated by the will of a deceased person commonly known as?
Answer:
Legacy

Question 46.
Name the account which is similar to profit and loss account in case of a not-for-profit organisation.
Answer:
Income and expenditure account.

Question 47.
All the revenue items relating to the current accounting period are shown in income and expenditure account. Why?
Answer:
It is so because it is prepared on accrual basis of accounting.

Question 48.
Name the term used for denoting ‘excess of income over expenditure’ in case of non-profit organisations. (All India 2010)
Answer:
Surplus

Question 49.
What is the term given to excess of expenditure over income in case of non-profit organisations?
Answer:
Deficit

Question 50.
Honorarium is a kind of remuneration paid to a person who is not the employee of a non-profit organisation. What kind of expenditure is it?
Answer:
It is a revenue expenditure.

Question 51.
‘Income and expenditure account of a not-for-profit organisation is akin to profit and loss account of a business concern.” Explain the statement, (NCERT)
Answer:
Income and expenditure account is prepared by a non-profit organisation and is a summary of income and expenditure of the accounting year. Income and expenditure account is akin to profit and loss account because of the following similarities which are observed amongst these accounts

• Both are nominal accounts.
• Both are prepared on accrual basis.
• Both record revenue items related to current accounting year only.
• In both the accounts, expenses and losses are recorded on the debit side and incomes and gains are recorded on the credit side.

Question 52.
Explain the basic features of income and expenditure account, (NCERT)
Answer:
The basic features of income and expenditure account are

• Nature It is a nominal account.
• Capital Items No capital items are recorded in this account.
• Debit and Credit Sides Its debit side includes all the expenses pertaining to the particular period and credit side includes all the income pertaining to the same period.
• Opening and Closing Balances No opening and closing balances are recorded in it.
• Only Current Period Items No item, either revenue or expenditure, pertaining to the past period or the future period is entered in this account.
• Similar to Profit and Loss Account This account is prepared in the same manner in which a profit and loss account is prepared.
• Surplus/Deficit Credit balance is called surplus, i.e. ‘excess of income over expenditure’ and debit balance is called deficit, i.e. ‘excess of expenditure over income’, i.e. deficit.

Question 53.
Show the treatment of items of income and expenditure account when there is a specific fund for those items, (NCERT)
Answer:
Certain special funds are created for certain purposes/activities, e.g. Prize funds, match fund, sports fund, etc. The income earned from such funds (e.g. interest on investment for which investment fund is maintained) is added to the respective fund (i.e. investment fund) and not credited to income and expenditure account and also the expenses incurred on such specific purposes (e.g. tournament expenses for which tournament fund is maintained) are also deducted from the special fund (i.e. tournament).

Question 54.
Distinguish between income and expenditure account and profit and loss account.
Answer:
The differences between income and expenditure account and profit and loss account are

Basis	Income and Expenditure Account	Profit and Loss Account
Preparation	Income and expenditure account is prepared by non-profit organisations.	Profit and
Basis of Preparation	It is prepared on the basis of receipts and payments account.	It is prepared on the basis of trial balance and additional information.
Objective	Its main objective is to ascertain surplus or deficit.	Its main objective is to ascertain net profit or loss.
Balance	The balance in this account is either surplus or deficit.	The balance in this account is either net profit or net loss.

Question 55.
Distinguish between income and expenditure account and receipts and payment account. (NCERT)
Answer:
The differences between income and expenditure account and receipts and payments account are

Basis	Income and Expenditure Account	Receipts and Payments Account
Nature	It is a nominal account.	It is a real account.
Nature of Items	It records income and expenditure of revenue nature only.	It records receipts and payments of revenue as well as capital nature.
Basis	It is based on accrual system of accounting.	It is based on cash basis of accounting.
Period	Income and expenditure items relate only to the current period.	Receipts and payment?may also relate to preceding and succeeding periods.
Debit Side	Debit side of this account records expenses and losses.	Debit side of this account records the receipts.
Credit Side	Credit side of this account records income and gains.	Credit side of this account records the payments.
Depreciation	It records non-cash item e.g., depreciation.	It does not records non-cash item e.g., depreciation.
Opening Balance	There is no opening balance.	Balance in the beginning represents cash in hand/cash at bank or overdraft at the beginning.
Closing Balance	Balance at the end represents surplus or deficit.	Balance at the end represents cash in hand at the end and bank balance (or bank overdraft).
Similarity	It is similar to profit and loss account.	It is similar to a cash book.

Question 56.
From the following information of a not-for-profit organisation, show the ‘sports material’ items in the ‘income and expenditure account’ for the year ending 31st March, 2009 and the balance sheets as at 31st March, 2008 and 31st March, 2009.

	31-3-2008 Amt (Rs)	31-3-2009 Amt (Rs)
Stock of sports material	2,200	5,800
Creditors for sports material	7,800	9,200
Advance to suppliers for sports material	15,000	25,000

Payment to suppliers for the sports material during the year was ₹ 1,20,000, there were no cash purchases made. (All India 2010)
Answer:

Question 57.
Prom the following information of Gems Club, prepare income and expenditure account for the year ended 31st March, 2018.
Receipts and Payments Account

Additional Information:
Subscriptions received included ₹ 15,000 for 2018-19. The amount of subscriptions outstanding on 31st March, 2018 were ₹ 20,000. Salaries unpaid on 31st March, 2018 were ₹ 8,000 and rent receivable was ₹ 2,000. Opening stock of printing and stationery was ₹ 12,000, whereas closing stock was ₹ 15,000. (All India 2019)
Answer:
In the books of Gems Club Income and Expenditure Account

Question 58.
From the following receipts and payments account and additional information of swachh Bharat Club, New Delhi for the year ended 31st March, 2018, prepare income and
expenditure account and balance aheet.
Receipts and Payments Account of Swachh Bharat Club

Additional Information:
Assets on 1.4.2017 were Books ₹ 50,000; Computers ₹ 75,000. liabilities and Capital fund on 1.4.2017 were Creditors ₹ 60,000; Capital fund ₹ 1,28,000. (All India 2019)
Answer:

Question 59.
From the following receipts and payments account and additional information, prepare income and expenditure account and balance sheet of Sears Club, Noida as on 31st March, 2018.

Additional Information:
(i) The club has 200 members each paying an annual subscription of ₹ 1,000. ₹ 60,000 were in arrears for last year and 25 members paid in advance in the last year for the current year.
(ii) Stock of stationery on 1-4-2017 was ₹ 3,000 and 31-3-2018 was ₹ 4,000. (Delhi 2019)
Answer:

Question 60.
Which of the following is/are account(s) in NPO where outstanding expenses, prepaid expenses, etc are not recorded?
(a) Receipt and payment account
(b) Income and expenditure account
(c) Balance sheet
(d) All of these
Answer:
(a) Receipt and payment account

Question 61.
What is the source of income for a non-profit organisation?
(a) Subscriptions from members
(b) Donations
(c) Legacies
(d) All of these
Answer:
(d) All of these

Question 62.
Non-profit organisation provide it’s services in the field of
(a) education
(b) healthcare
(c) Both (a) and (b)
(d) manufacturing of goods
Answer:
(c) Both (a) and (b)

Question 63.
Receipt and payment account is
(a) personal account
(b) real account
(c) capital account
(d) final account
Answer:
(b) real account

Question 64.
Which of the following cannot be recorded in receipt and payment account?
(a) Subscription received in advance
(b) Last year subscription received
(c) Current year outstanding subscription
(d) All of the above
Answer:
(c) Current year outstanding subscription

Question 65.
On 1st January, 2017 outstanding subscription ₹ 160. For 2017, amount received from subscription ₹ 4,200. On 31st December, 2017 outstanding subscription ₹ 240. Which of the following will be recorded in receipt and payment account as subscription received?
(a) ₹ 4,200
(b) ₹ 4,280
(c) ₹ 4,120
(d) ₹ 4,600
Answer:
(a) ₹ 4,200

Question 66.
Specific donations appearing on the receipts side of the receipt and payment account are to be carried to
(a) debit side of income and expenditure account
(b) assets side of balance sheet
(c) liabilities side of the balance sheet
(d) credit side of income and expenditure account
Answer:
(c) liabilities side of the balance sheet

Question 67.
Income and expenditure account is
(a) personal account
(b) real account
(c) nominal account
(d) None of these
Answer:
(c) nominal account

Question 68.
Income and expenditure account records transactions of
(a) capital nature
(b) revenue nature
(c) Both (a) and (b)
(d) None of these
Answer:
(b) revenue nature

Question 69.
Subscription
2014 – 2015 – ₹ 1,200
2015 – 2016 – ₹ 26,500
2016 – 2017 – ₹ 500
Subscription outstanding as on 31st March, 2015 was ₹ 2,000 and on 31st March, 2016 ₹ 2,500. Amount to be shown in income and expenditure account will be
(a) ₹ 25,800
(b) ₹ 24,800
(c) ₹ 28,200
(d) ₹ 27,500
Answer:
(c) ₹ 28,200

Question 70.
The balance of income and expenditure account before adjustment is ₹ 400 deficit. Accrued interest-? 600 Outstanding wages ₹ 300 Prepaid insurance ₹ 200 Amount after adjustment will be
(a) ₹ 200 deficit
(b) ₹ 100 deficit
(c) ₹ 100 saving/surplus
(d) ₹ 300 surplus
Answer:
(c) ₹ 100 saving/surplus

Question 71.
Any excess of assets over liabilities in non-profit organisation is called
(a) cash
(b) working capital
(c) loan
(d) capital fund
Answer:
(d) capital fund

Question 72.
Balance of income and expenditure account is transferred to
(a) assets side of balance sheet
(b) liabilities side of balance sheet
(c) capital fund
(d) adjusted in assets
Answer:
(c) capital fund

Question 73.
Consider the following information.
Tournament fund ₹ 20,000;
Tournament expenses ₹ 6,000;
Receipt from tournament ₹ 9,000.
Amount to be transferred to liabilities side of balance sheet will be
(a) ₹ 22,000
(b) ? 23,000
(c) ₹ 18,000
(d) ₹ 230
Answer:
(b) ₹ 23,000

Question 74.
Find insurance premium to be debited to income and expenditure account?
If prepaid premium (opening) is ₹ 2,000, Prepaid premium closing ₹ 2,800,
Premium paid during the year ₹ 7,200.
(a) ₹ 6,400
(b) ₹ 8,000
(c) ₹ 12,000
(d) None of these
Answer:
(a) ₹ 6,400

NCERT Solutions for Class 12 Accountancy Part 1 Partnership Accounts

• Chapter 2 Accounting for Partnership : Basic Concepts
• Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner
• Chapter 4 Reconstitution of a Partnership Firm – Retirement/Death of a Partner
• Chapter 5 Dissolution of Partnership Firm

NCERT Solutions for Class 12 Accountancy Part 2 Company Accounts and Analysis of Financial Statements

• Chapter 1 Accounting for Share Capital
• Chapter 2 Issue and Redemption of Debentures
• Chapter 3 Financial Statements of a Company
• Chapter 4 Analysis of Financial Statements
• Chapter 5 Accounting Ratios
• Chapter 6 Cash Flow Statement