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

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

2026, June 180 minutes 80 marks Save WhatsApp

Sections

Q.1 (A) Select the most appropriate alternative (5 marks) 5 questions
Q.1 (B) Write a word / term / phrase (5 marks) 5 questions
Q.1 (C) Complete the sentences (5 marks) 5 questions
Q.1 (D) Agree / Disagree with the statements (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 June 2026 (supplementary) examination, held on 29 June 2026. The paper code printed on the question paper is J-309. The questions are transcribed in full from the board’s own printed question paper published on its website; balance sheets, trial balances 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) multiple choice, (B) one-word substitutes, (C) complete the sentences and (D) agree or disagree, 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 with insolvency of partners, 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 June 2026 Book-Keeping and Accountancy paper (J-309). The solutions are Doubtly’s own model answers; the board does not publish a full answer key.

How is Q.3 solved when all partners are insolvent?

The cash available, including ₹ 8,000 from Bhumi’s private estate, is first used to pay the outside creditors (Bills Payable). The claims that cannot be paid and the deficiencies of the insolvent partners are closed through a Deficiency Account; Garner v. Murray does not apply because no partner is solvent.

Why is depreciation on furniture ₹ 3,000 in Q.7?

Furniture of ₹ 20,000 was held for the whole year (₹ 2,000) and the addition of ₹ 20,000 on 1 October 2022 is depreciated for six months only (₹ 1,000).

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) Select the most appropriate alternative (5 marks)

  1. Q.1 (A) (i) _____ is an Intangible Asset.

    1. (A) Goodwill
    2. (B) Stock
    3. (C) Cash
    4. (D) Furniture
    1 mark See answer →

  2. Q.1 (A) (ii) Excess of income over expenditure is termed as _____.

    1. (A) Deficit
    2. (B) Profit
    3. (C) Surplus
    4. (D) Loss
    1 mark See answer →

  3. Q.1 (A) (iii) Decrease in the value of Assets should be _____ to Revaluation Account.

    1. (A) Debited
    2. (B) Credited
    3. (C) Equal
    4. (D) Added
    1 mark See answer →

  4. Q.1 (A) (iv) Notary public is _____.

    1. (A) Govt. Officer
    2. (B) Endorsee
    3. (C) Payee
    4. (D) Drawer
    1 mark See answer →

  5. Q.1 (A) (v) Fixed Deposit Account comes under _____ group.

    1. (A) Investment
    2. (B) Bank Account
    3. (C) Current Liability
    4. (D) Current Asset
    1 mark See answer →

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

  1. Q.1 (B) (i) Write a word / term / phrase which can substitute the statement: Expenses which are paid before they are due.

    1 mark See answer →

  2. Q.1 (B) (ii) Write a word / term / phrase which can substitute the statement: The receipts which are not recurring in nature.

    1 mark See answer →

  3. Q.1 (B) (iii) Write a word / term / phrase which can substitute the statement: The ratio in which general reserve is distributed to the old partners in case of admission of a partner.

    1 mark See answer →

  4. Q.1 (B) (iv) Write a word / term / phrase which can substitute the statement: Winding up of partnership business.

    1 mark See answer →

  5. Q.1 (B) (v) Write a word / term / phrase which can substitute the statement: Shares issued at its face value.

    1 mark See answer →

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

  1. Q.1 (C) (i) Complete the sentence: Liabilities of partners in partnership firm is _____.

    1 mark See answer →

  2. Q.1 (C) (ii) Complete the sentence: Pune University prepares _____ Account instead of a Profit and Loss Account.

    1 mark See answer →

  3. Q.1 (C) (iii) Complete the sentence: A person who draws the bill of exchange is known as _____.

    1 mark See answer →

  4. Q.1 (C) (iv) Complete the sentence: Revaluation Account is also known as _____ Account.

    1 mark See answer →

  5. Q.1 (C) (v) Complete the sentence: Current Ratio = _____ / Current Liabilities

    1 mark See answer →

Q.1 (D) Agree / Disagree with the statements (5 marks)

  1. Q.1 (D) (i) Do you agree or disagree with the statement: Free distribution of goods is debited to Trading Account.

    1 mark See answer →

  2. Q.1 (D) (ii) Do you agree or disagree with the statement: Non-trading concerns do not have profit motive.

    1 mark See answer →

  3. Q.1 (D) (iii) Do you agree or disagree with the statement: When the Goodwill is written off goodwill account is debited.

    1 mark See answer →

  4. Q.1 (D) (iv) Do you agree or disagree with the statement: On Dissolution of partnership firm / Cash / Bank Account is closed automatically.

    1 mark See answer →

  5. Q.1 (D) (v) Do you agree or disagree with the statement: A deceased partner is not entitled to Goodwill of the Firm.

    1 mark See answer →

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

  1. Q.2 Kaustubh and Ketan are partners sharing profits and losses in the ratio of 1 : 1. Their Balance Sheet as on 31st March 2023 was as follows:

    Balance Sheet as on 31st March 2023

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Capital Accounts:Building1,20,000
    Kaustubh2,00,000Machinery1,40,000
    Ketan2,80,000Investment48,000
    Creditors68,000Debtors52,000
    Bills Payable52,000Stock80,000
    Cash1,60,000
    6,00,0006,00,000

    On 1st April 2023, Pranav joins the firm as a partner for 1/5th share of future profits, on the following terms and conditions:

    1. Firm Goodwill is valued at ₹ 4,00,000. Pranav is to bring his share of goodwill in cash.
    2. Pranav is to bring in ₹ 2,00,000 as his share of capital.
    3. Provision for Bad and Doubtful Debts is to be created at 10% on debtors.
    4. Building is to be valued at ₹ 1,60,000.
    5. Stock and Machinery is to be reduced by 20%.

    Prepare: (a) Revaluation Account (b) Partners’ Capital Account (c) Balance Sheet of the New Firm

    OR

    Following is the Balance Sheet of Sagar, Suraj and Sahil, who were sharing profit and losses equally.

    Balance Sheet as on 31st March 2023

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Capital Accounts:Building1,40,000
    Sagar87,200Machinery20,000
    Suraj70,000Computer35,000
    Sahil64,000Goodwill24,000
    Reserve fund27,000Debtors 36,000
    Less: R.D.D. 1,800    		34,200
    Creditors61,800Bank56,800
    3,10,0003,10,000

    On 1st April 2023, Sahil retired from the firm on the following terms:

    1. Machinery be revalued at ₹ 18,800.
    2. Building be appreciated by 10% and computer be reduced by ₹ 3,800.
    3. Debtors were all good and R.D.D. was no longer required.
    4. Goodwill of the firm be valued at ₹ 36,000.
    5. Amount payable to Sahil to be transferred to his Loan Account.

    Prepare: (a) Profit and Loss Adjustment Account (b) Partners’ Capital Account (c) Balance Sheet of the New firm

    10 marks See answer →

  2. Q.3 Following is the Balance Sheet of M/s. Bhumi, Bhupal and Bipin as on 31st March 2023.

    Balance Sheet as on 31st March 2023

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Capital Accounts:Computer11,000
    Bhumi15,000Furniture45,000
    Bhupal11,000Stock53,000
    Bhumi’s Loan A/c25,000Bank7,000
    Bills Payable85,000Bipin’s Capital A/c20,000
    1,36,0001,36,000

    All partners declared as insolvent due to the inability to pay the liabilities, hence the firm is dissolved. Bhupal and Bipin can not pay anything. Bhumi can contribute only ₹ 8,000 from her private estate.

    Assets realised – Stock ₹ 35,000, Furniture ₹ 37,000 and computer is sold for ₹ 6,000.

    Realisation expenses amounted to ₹ 11,000.

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

    OR

    Surekha sold goods to Suman on credit for ₹ 20,000 for which Suman accepted the bill for 3 months. Surekha discounted the bill with her bank at 10% p.a. on the same day.

    On the due date, Suman requested Surekha to accept ₹ 8,000, with interest ₹ 1,000 in cash and to draw a new bill for the balance for 2 months. Surekha agrees to this proposal.

    Before due date Suman retired her acceptance by paying ₹ 11,800.

    Pass necessary Journal Entries in the books of Surekha.

    10 marks See answer →

  3. Q.4 Pravin, Prashant and Sushil are partners sharing profits and losses in the ratio 5 : 3 : 2 respectively. Their Balance Sheet as on 31st March 2022 was as follows:

    Balance Sheet as on 31st March 2022

    LiabilitiesAmount (₹)AssetsAmount (₹)
    Capital Accounts:Loose Tools1,00,000
    Pravin2,00,000Debtors3,00,000
    Prashant1,50,000Livestock2,00,000
    Sushil1,00,000Cash1,50,000
    Reserve fund50,000
    Creditors2,50,000
    7,50,0007,50,000

    Sushil died on 31st March 2022 and the following adjustments were agreed by as per partnership deed.

    1. Creditors have increased by ₹ 20,000.
    2. Goodwill is to be calculated at 2 years’ purchase of average profit of 3 years. The profit of the last 3 years were: 2019-20 ₹ 1,80,000; 2020-21 ₹ 1,20,000; 2021-22 ₹ 1,20,000 (Loss). Sushil’s share in it was to be given to him.
    3. Loose tools and livestock were valued at ₹ 1,60,000 and ₹ 2,40,000 respectively.
    4. R.D.D. was maintained at ₹ 20,000.

    Prepare: (a) Revaluation Account (b) Sushil’s Capital Account showing the amount payable to his executors. (c) Give working of Sushil’s share in goodwill.

    OR

    Explain the importance of Computerized Accounting System.

    8 marks See answer →

  4. Q.5 Finolex Co. Ltd. invited applications for 50,000 equity shares of ₹ 10 each payable as:

    • ₹ 3 on Application
    • ₹ 5 on Allotment
    • ₹ 2 on First and Final call

    Applications were received for 60,000 equity shares and pro-rata allotment were made to all.

    All the money was duly received except Mr. Rahul failed to pay first and final call on 5,000 equity shares.

    Enter the above transactions in the books of the company.

    OR

    Calculate Current Ratio, Gross Profit Ratio and Net Profit Ratio from the following information:

    ParticularsAmount (₹)
    Debtors2,50,000
    Creditors1,20,000
    Stock1,50,000
    Bills payable50,000
    Cash in hand2,00,000
    Bank overdraft30,000
    Net sales16,00,000
    Gross profit8,00,000
    Net profit4,00,000
    8 marks See answer →

  5. Q.6 Atharv Art Circle, Sindhudurg, a newly started concern on 1st April 2022. Their Receipts and Payments Account was as follows:

    Receipts and Payments Account as on 31st March 2023

    Dr. ReceiptsAmount (₹)Cr. PaymentsAmount (₹)
    To Life Membership Fees66,000By Furniture36,000
    To Subscriptions1,20,000By Postage12,000
    To Donations54,000By Office rent7,800
    By Newspaper900
    By Electricity Charges1,680
    By Investment9,000
    By Stationery12,000
    By Laptop18,000
    By Machinery20,000
    By Salary10,000
    By Balance c/d:
    Cash in hand 22,620
    Cash at bank 90,000    		1,12,620
    2,40,0002,40,000

    Adjustments:

    1. Subscription outstanding for the year 2022-23 was ₹ 15,000.
    2. Depreciate furniture @ 10% p.a.
    3. Entire amount of Life Membership fees and 50% of Donations are to be capitalised.

    Prepare Income and Expenditure Account for the year ended 31st March 2023 and Balance Sheet as on that date.

    12 marks See answer →

  6. Q.7 Jayesh and Rupesh are partners sharing profits and losses in the ratio of 3 : 2.

    From the following Trial Balance and additional information, prepare Trading and Profit and Loss Account for the year ended on 31st March 2023 and Balance Sheet as on that date.

    Trial Balance as on 31st March 2023

    Debit BalanceAmount (₹)Credit BalanceAmount (₹)
    Purchases1,63,000Sales2,20,000
    Debtors45,000Creditors47,000
    General Expenses8,000Return Outward3,000
    Stock (on 1-4-22)35,000Capital:
    Premises1,30,000Jayesh1,20,000
    Rent (for 10 months)20,000Rupesh80,000
    Productive wages5,000
    Furniture (Addition ₹ 20,000 made on 01-10-2022)40,000
    Cash at Bank24,000
    4,70,0004,70,000

    Adjustments:

    1. Closing stock is valued at ₹ 38,000.
    2. Depreciate furniture by 10% p.a.
    3. Charge interest on capital at 5% p.a.
    4. Goods distributed as free sample ₹ 2,000.
    12 marks See answer →