Maharashtra HSC Book-Keeping and Accountancy Board Paper March 2026 with Solutions

Written board papers. Physics and Chemistry: 70 marks, 3 hours. Mathematics & Statistics: 80 marks, 3 hours.

2026, March 180 minutes 80 marks Save WhatsApp

Sections

Q.1 (A) Complete the table (5 marks)	5 questions
Q.1 (B) Select the correct options and rewrite the statements (5 marks)	5 questions
Q.1 (C) Write a word / term / phrase (5 marks)	5 questions
Q.1 (D) Complete the sentences (5 marks)	5 questions
Q.2 to Q.7 Practical problems (60 marks)	6 questions

About this paper

This is the actual Maharashtra State Board (MSBSHSE) HSC (Class 12) Commerce Book-Keeping and Accountancy (50) board paper of the February–March 2026 examination (Day 13). The paper code printed on the question paper is J-196. The questions are transcribed in full from the board’s own printed question paper published on its website; tables, balance sheets and accounts in the questions are given as tables. The answers are original answers written by Doubtly, worked out and checked independently, not the board’s official model answers.

Paper pattern

Maximum marks 80, time 3 hours, seven questions. Q.1 (20 marks) is compulsory and objective: (A) complete the table, (B) multiple choice, (C) one-word substitutes and (D) complete the sentences, five 1-mark items each. Q.2 and Q.3 carry 10 marks each, Q.4 and Q.5 carry 8 marks each, and Q.6 and Q.7 carry 12 marks each. Q.2 to Q.5 each have an internal OR choice. The paper covers admission, retirement and death of a partner, dissolution, bills of exchange, issue of shares, ratio analysis, computerised accounting, Not for Profit concerns and partnership final accounts.

How to use it

Attempt the paper in one 3-hour sitting. Then compare with the model answers: check every working note, journal entry narration and ledger total, and make sure each balance sheet tallies.

FAQs

Is this the official board paper?

Yes, the questions are from the board’s March 2026 Book-Keeping and Accountancy paper (J-196). The solutions are Doubtly’s own model answers; the board does not publish a full answer key.

Why is the due date in Q.1 (A) (3) 25.01.2022?

23.12.2021 + 1 month + 3 days of grace is 26.01.2022, which is Republic Day, a public holiday. The bill then falls due on the preceding day.

Why is only half the advertisement charged in Q.7?

The trial balance shows advertisement ₹ 8,000 for 2 years, so only one year's ₹ 4,000 belongs to 2020-21; the rest is shown as prepaid advertisement. The solution also shows the figures if the whole amount is charged.

Chapters covered

Instructions

Solve on paper with a timer, then check against the solutions. Sections: A (MCQ and very short answers), B (short answers, attempt any 8 of 12), C (attempt any 8 of 12), D (long answers with choice).

Q.1 (A) Complete the table (5 marks)

Q.1 (A) (1) Complete the table:
Cost of goods sold = Opening Stock + Purchases – _____

1 mark See answer →
Q.1 (A) (2) Complete the table:
Income Expenditure Deficit
25,000 _____ 2,000

1 mark See answer →
Q.1 (A) (3) Complete the table:
Date of drawing bill Period Due Date
23.12.2021 1 month _____

1 mark See answer →
Q.1 (A) (4) Complete the table:
Creditors Bills Payable Third Party Liability
40,000 60,000 _____

1 mark See answer →
Q.1 (A) (5) Complete the table:
Sales Purchases Gross Profit
_____ 1,80,000 20,000

1 mark See answer →

Income	Expenditure	Deficit
25,000	_____	2,000

Date of drawing bill	Period	Due Date
23.12.2021	1 month	_____

Creditors	Bills Payable	Third Party Liability
40,000	60,000	_____

Sales	Purchases	Gross Profit
_____	1,80,000	20,000

Q.1 (B) Select the correct options and rewrite the statements (5 marks)

Q.1 (B) (1) The profit or loss from revaluation on retirement of partner is shared by _____.
1. (A) The remaining partners
2. (B) All the partners
3. (C) Only retiring partner
4. (D) Bank
1 mark See answer →
Q.1 (B) (2) Profit and Loss Suspense Account is shown in the new balance sheet on _____ side.
1. (A) Debit
2. (B) Credit
3. (C) Assets
4. (D) Liabilities
1 mark See answer →
Q.1 (B) (3) Not for Profit Organisation is also called _____ organisation.
1. (A) Service
2. (B) Trading
3. (C) Profit making
4. (D) Commercial
1 mark See answer →
Q.1 (B) (4) A _____ is an intangible asset.
1. (A) Stock
2. (B) Furniture
3. (C) Cash
4. (D) Goodwill
1 mark See answer →
Q.1 (B) (5) _____ is credited when unrecorded asset is brought into business.
1. (A) Revaluation Account
2. (B) Balance Sheet
3. (C) Partners’ Capital Account
4. (D) Trading Account
1 mark See answer →

Q.1 (C) Write a word / term / phrase (5 marks)

Q.1 (C) (1) Write a word / term / phrase which can substitute the statement: Debit balance of revaluation account.

1 mark See answer →
Q.1 (C) (2) Write a word / term / phrase which can substitute the statement: It is a damaged software, cracked, but nearly fully functional.

1 mark See answer →
Q.1 (C) (3) Write a word / term / phrase which can substitute the statement: Average Profit – Normal Profit = _____

1 mark See answer →
Q.1 (C) (4) Write a word / term / phrase which can substitute the statement: An account which records only revenue items in case of Not for Profit Concern.

1 mark See answer →
Q.1 (C) (5) Write a word / term / phrase which can substitute the statement: Partnership Agreement in written form.

1 mark See answer →

Q.1 (D) Complete the sentences (5 marks)

Q.1 (D) (1) Complete the sentence: When face value of the share is ₹ 100 and issued price is ₹ 110 then it is said that the shares are issued at _____.

1 mark See answer →
Q.1 (D) (2) Complete the sentence: A person who draws the bill of exchange is known as _____.

1 mark See answer →
Q.1 (D) (3) Complete the sentence: Dissolution expenses are credited to _____ account.

1 mark See answer →
Q.1 (D) (4) Complete the sentence: Credit side of Receipts and Payments Account shows cash _____.

1 mark See answer →
Q.1 (D) (5) Complete the sentence: Expenses which are paid before due date are called as _____.

1 mark See answer →

Q.2 to Q.7 Practical problems (60 marks)

Q.2 The Balance Sheet of Mohit and Rohit who shared profits equally was as follows:

Balance Sheet as on 31st March 2021

Liabilities	Amount (₹)	Assets	Amount (₹)
Bills Payable	52,000	Cash	1,60,000
Creditors	48,000	Stock	80,000
Capital Accounts:		Plant and Machinery	1,40,000
Mohit 2,00,000		Debtors	52,000
Rohit 2,80,000	4,80,000	Furniture	48,000
General Reserve	20,000	Land and Building	1,20,000
	6,00,000		6,00,000

On 1st April 2021 Sujit joins the firm as a partner for 1/5th share of future profit on the following terms and conditions:

Stock, Plant and Machinery are to be reduced by 20%.
Land and Building is to be valued at ₹ 1,75,000.
A provision of 10% is to be created on debtors.
Sujit is to bring in ₹ 2,00,000 as capital.
Goodwill is valued at ₹ 4,00,000. Sujit is to bring his share of goodwill in cash.

Draft the Journal Entries in the books of the firm and show Profit and Loss Adjustment Account.

Give journal entries of the following in the books of Daulat.

Sarita’s acceptance for 3 months of ₹ 20,000 was discounted with bank at ₹ 19,800.
Siddhi’s acceptance ₹ 15,000 retired one month before the due date at rebate of 12% p.a.
Prachiti’s acceptance of ₹ 9,750 is endorsed in favour of Bhumika in full settlement of her account ₹ 10,000.
Sold goods to Madhura ₹ 20,000 @10% trade discount. Received half the amount in cash and for the balance a bill for 2 months which was accepted by Madhura. On the due date, Madhura meets the bill.

10 marks See answer →

Q.3 Rajeev, Sanjeev and Mahesh were partners in the firm Janki Traders sharing profit and losses in the ratio of 2 : 2 : 1. The following is the Balance Sheet as on 31st March 2022:

Balance Sheet as on 31st March 2022

Liabilities	Amount (₹)	Assets	Amount (₹)
Capital Accounts:		Machinery	2,00,000
Rajeev	2,40,000	Investment	96,000
Sanjeev	80,000	Debtors 2,20,000 Less: R.D.D. 12,000	2,08,000
Mahesh	80,000	Stock	80,000
General Reserve	24,000	Bank	56,000
Creditors	1,60,000
Bills Payable	56,000
	6,40,000		6,40,000

On the above date the partners decided to dissolve the firm.

Assets were realised as under: Machinery ₹ 1,80,000, Stock ₹ 72,000, Investment ₹ 84,000 and Debtors ₹ 1,80,000.
Dissolution expenses were ₹ 12,000.
Goodwill of the firm realised ₹ 96,000.

Prepare necessary ledger accounts to close the books of the Partnership Firm.

Ramesh, Dinesh and Mahesh were partners sharing profits and losses in the ratio of 5 : 2 : 3. Their balance sheet as on 31st March 2020 was as follows:

Balance Sheet as on 31st March 2020

Liabilities	Amount (₹)	Assets	Amount (₹)
Capital Accounts:		Plant and Machinery	42,000
Ramesh	46,000	Building	50,000
Dinesh	42,000	Stock	30,400
Mahesh	27,600	Debtors 26,800 Less: R.D.D. 800	26,000
Creditors	30,000	Bank	32,400
Bills Payable	11,200
General Reserve	24,000
	1,80,800		1,80,800

Dinesh retired from business on 1st April 2020 on the following terms:

The assets were revalued as under: (i) Stock ₹ 38,000 (ii) Building is appreciated by 10% (iii) Plant and Machinery is to be depreciated by 10% (iv) R.D.D. is increased up to ₹ 1,000.
The goodwill of retiring partner is valued at ₹ 18,000 and remaining partners decided that goodwill be written off in their new ratio which will be 5 : 3.
Amount due to Dinesh is to be transferred to his loan account.

Prepare: (1) Revaluation Account (2) Partners’ Capital Account and (3) Balance Sheet of New Firm.

10 marks See answer →

Q.4 Mahendra, Jitendra and Hitendra are in partnership sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as on 31st March 2022 was as follows:

Balance Sheet as on 31st March 2022

Liabilities	Amount (₹)	Assets	Amount (₹)
Capital Accounts:		Debtors	90,000
Mahendra	2,20,000	Machinery	85,000
Jitendra	2,10,000	Investment	3,50,000
Hitendra	2,40,000	Motor Lorry	1,00,000
Creditors	80,000	Building	80,000
Bills Payable	7,000	Bank	1,48,000
General Reserve	96,000
	8,53,000		8,53,000

On 1st October 2022 Hitendra died and the partnership deed provided that:

Machinery valued at ₹ 80,000 and creditors valued at ₹ 69,000.
Profit for 2022-23 was estimated at ₹ 1,20,000. Hitendra’s share in it up to the date of his death was given to him.
Goodwill of the firm was valued at two times the average profit of the last 5 years. Firm’s profit of the last 5 years were: I year ₹ 1,80,000, II year ₹ 1,50,000, III year ₹ 2,00,000, IV year ₹ 1,20,000, V year ₹ 2,50,000. Hitendra’s share in it was to be given to him.
Drawings made by Hitendra up to his death is ₹ 30,000.
Interest on drawings of Hitendra charged ₹ 2,000.

Prepare: Hitendra’s Capital Account and show working of: (i) Hitendra’s share in goodwill. (ii) Hitendra’s share in profit.

State the importance of Computerised Accounting System.

8 marks See answer →

Q.5 Pavitra Co. Ltd. issued ₹ 20,00,000 capital divided into equity shares of ₹ 100 each at a premium of ₹ 20 per share. Amount payable as:

₹ 20 on Application
₹ 40 on Allotment (including ₹ 10 premium)
₹ 60 on First and Final call (including ₹ 10 premium)

Company received applications for all shares. All the money due on allotment and first and final call was duly received.

Pass Journal Entries in the books of Pavitra Co. Ltd.

Trading and Profit and Loss Account for the year ended 31st March 2022

Dr. Particulars	Amount (₹)	Cr. Particulars	Amount (₹)
To Opening Stock	4,00,000	By Sales	24,00,000
To Purchases	18,00,000	By Closing Stock	6,00,000
To Wages	2,00,000
To Gross Profit c/d	6,00,000
Total	30,00,000	Total	30,00,000
To Office Expenses	2,50,000	By Gross Profit b/d	6,00,000
To Selling Expenses	2,00,000
To Finance Expenses	60,000
To Net Profit c/d	90,000
	6,00,000		6,00,000

Company had following current assets and current liabilities: Debtors ₹ 1,20,000, Creditors ₹ 60,000, Stock ₹ 60,000, Bills Payable ₹ 40,000, Loose Tools ₹ 20,000, Bank Overdraft ₹ 20,000.

Calculate following ratios: (1) Gross Profit Ratio (2) Operating Ratio (3) Net Profit Ratio (4) Current Ratio

8 marks See answer →

Q.6 From the following transactions of Samarth Vyayamshala, Chandgad, prepare Income and Expenditure Account and Balance Sheet as on 31st March 2022.

Receipts and Payments Account as on 31st March 2022

Receipts	Amount (₹)	Payments	Amount (₹)
To Balance b/d Cash in hand	15,000	By Salaries	18,000
To Subscriptions 2021-2022 54,000 2022-2023 1,230	55,230	By Entertainment expenses	7,440
To Donations	18,000	By Sundry Expenses	3,900
To Receipts from entertainment	16,200	By Electricity Charges	3,600
To Interest	1,200	By Rent	2,100
To Entrance Fees	18,600	By Investment	45,000
		By Printing and Stationery	2,400
		By Postage	9,600
		By Fixed Deposit	11,700
		By Balance c/d	20,490
	1,24,230		1,24,230

Adjustments:

Capital fund as on 1st April 2021 was ₹ 2,10,000.
Assets on 1st April 2021 were: Building ₹ 1,50,000, Furniture ₹ 45,000.
Provide depreciation on building at 5% p.a. and on furniture at 10% p.a.
50% of entrance fees to be capitalised.
There are 1,500 members each paying yearly subscription of ₹ 50.

12 marks See answer →

Q.7 Snehal and Deepali are partners sharing profit and losses in their capital ratio. Following is the Trial Balance as on 31st March 2021:

Trial Balance as on 31st March 2021

Particulars	Debit Amount (₹)	Particulars	Credit Amount (₹)
Plant and Machinery	27,600	Capital Accounts:
Carriage Outward	2,600	Snehal	1,60,000
Wages and Salary	15,200	Deepali	80,000
Sundry Debtors	1,24,000	Sundry Creditors	68,000
General Expenses	5,000	Sales	2,96,000
Stock (1st April 2020)	1,79,000	R.D.D.	2,400
Motor Van	80,000	Purchase Return	12,000
Office Rent	10,000
Freehold Property	46,000
Sales Return	16,000
Advertisement (For 2 Years)	8,000
Salaries	9,000
Purchases	96,000
	6,18,400		6,18,400

Adjustments:

Closing stock is valued at ₹ 1,76,000.
Outstanding wages ₹ 1,600.
Reserve for doubtful debts on Debtors at 5% is to be created.
Depreciate motor van by 5% and plant and machinery by 10% p.a.

Prepare: (i) Trading Account (ii) Profit and Loss Account (iii) Balance Sheet as on 31st March 2021.

12 marks See answer →

Written paper

Solve it yourself, then check.

Set a timer for 180 minutes.
Write your answers on paper, like the real exam.
Check each one with See answer below.

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