Chapterwise Class 12 Accountancy - I NCERT Solutions PDF - FREE Download
FAQs on NCERT Solutions for Class 12 Accountancy I - Free Latest PDF (2024-25)
1. What are the NCERT Solutions for Class 12 Accountancy Part 1 (Partnership Accounts)?
The NCERT Solutions for Class 12 Accountancy Part 1 provide detailed, step-by-step answers to all the questions and problems in the textbook chapters focused on Partnership Accounts. They are designed to clarify the correct accounting procedures for forming, reconstituting, and dissolving a partnership firm as per the CBSE 2025-26 guidelines.
2. How are the NCERT Solutions structured to explain complex topics like the admission of a new partner?
The solutions break down complex processes into manageable steps. For the admission of a partner, they demonstrate:
- The calculation of the new profit-sharing ratio and sacrificing ratio.
- The accounting treatment of Goodwill.
- The preparation of the Revaluation Account to record changes in asset and liability values.
- The adjustment of partners' capital accounts.
- The final preparation of the new firm's Balance Sheet.
This methodical approach ensures students understand each adjustment's logic and impact.
3. How do the step-by-step NCERT solutions help in solving numerical problems related to partnership accounts?
The step-by-step format is crucial for accuracy and scoring full marks. By following the prescribed method, students learn to prepare accounts in the correct sequence, such as creating the Realisation Account before partners' capital accounts during dissolution. This systematic approach minimises errors and ensures that all accounting adjustments are correctly posted.
4. Are these NCERT Solutions for Class 12 Accountancy fully aligned with the latest CBSE 2025-26 syllabus?
Yes, the NCERT Solutions are fully updated to align with the official CBSE syllabus for the 2025-26 academic year. They cover all topics, formats, and accounting treatments prescribed by the board for Class 12 Accountancy, ensuring students prepare with the most relevant material.
5. What key topics from the Partnership Accounts syllabus are covered in these NCERT Solutions?
These NCERT Solutions provide comprehensive problem-solving guidance for all chapters in the NCERT Class 12 Accountancy textbook on 'Partnership Accounts', including:
- Chapter 1: Accounting for Partnership: Basic Concepts
- Chapter 2: Reconstitution of a Partnership Firm: Admission of a Partner
- Chapter 3: Reconstitution of a Partnership Firm: Retirement/Death of a Partner
- Chapter 4: Dissolution of Partnership Firm
6. Why is it important to follow the precise method shown in NCERT Solutions when preparing a Revaluation Account?
Following the precise method for the Revaluation Account is critical because it directly determines the profit or loss from the reassessment of assets and liabilities. The NCERT Solutions demonstrate the correct way to debit decreases in assets and increases in liabilities, and vice-versa. Any deviation from this method can lead to an incorrect profit/loss figure, which will then cause errors in the partners' capital accounts and the final Balance Sheet.
7. How do the NCERT Solutions explain the calculation and treatment of Goodwill in different partnership reconstitution scenarios?
The NCERT Solutions meticulously detail the treatment of Goodwill based on the specific scenario. For instance, during a partner's admission, they explain how to pass journal entries for Goodwill brought in cash (premium method). In contrast, for retirement or death, the solutions show how to adjust Goodwill through the remaining partners' capital accounts in their gaining ratio. This clarifies that the context of reconstitution dictates the accounting method.
8. What common mistakes in the dissolution of a partnership firm do the NCERT Solutions help students avoid?
The solutions help prevent common errors during dissolution, such as:
- Incorrectly transferring assets and liabilities to the Realisation Account (e.g., forgetting to exclude cash or fictitious assets).
- Failing to distinguish between a partner's loan to the firm and the firm's loan to a partner.
- Errors in calculating the final profit or loss on realisation.
- Incorrectly closing the partners' capital accounts and the final cash/bank account.
By providing a clear sequence of steps, the solutions ensure a balanced and accurate final settlement.
9. How do the solutions demonstrate the correct application of the Profit and Loss Appropriation Account?
The NCERT Solutions demonstrate that the Profit and Loss Appropriation Account is an extension of the P&L Account, used specifically to distribute net profit among partners. The solutions clearly show the steps: crediting the net profit, and debiting appropriations like interest on capital, partners' salaries, and commissions. The final balancing figure, the divisible profit, is then shown transferred to the partners' capital accounts in their profit-sharing ratio.
10. If a partner's capital account shows a debit balance upon dissolution, how do the NCERT Solutions guide the settlement process?
The solutions illustrate that a debit balance in a partner's capital account at the time of dissolution signifies that the partner owes money to the firm. The correct procedure shown is for that partner to bring in cash to clear their debt. The final step involves a journal entry debiting the Cash/Bank Account and crediting the deficient partner's capital account, which is essential for the final settlement of accounts.

















