Session 2022-23
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
MOST EXPECTED AND IMPORTANT TOPICS
FOR XII ACCOUNTS CBSE BOARD 2022-23
23
Chapter: Partnership Fundamentals:
Conceptual Theory Question (In absence of deed)
Calculation of Interest on Capital (when closing capital is given)
Preparation of Profit and Loss AppAppropriation
ropriation Account (includes adjustment of salary,
IOC, IOD and General Reserve)
Past Adjustment (IOC and IOD not allowed)
Past Adjustment (IOC & IOD not allowed + guarantee of profits)
Past Adjustment (more than 1 year)
Guarantee of Profit (by Partner to Firm)
Guarantee of Profit (in case of loss)
Chapter: Goodwill – Nature and Valuation
Average Profit Method - with adjustments of:
o Partners’ Remuneration
o Insurance not provided
o Undervaluation/overvaluation of stock
o Management Cost.
Super Profit Method
Calculation
culation of Average Profit or Capital Employed (when goodwill is given)
Capitalisation of Average Profit method.
Chapter: Change in PSR:
Treatment of Valued Goodwill (Raise and write off method)
Treatment of Reserves and Losses (when partners don’t want tto
o distribute them)
Chapter: Admission of a Partner:
Calculation of New Ratio.
Journal Entry when Goodwill is brought only in part.
Treatment of Hidden Goodwil
Goodwill.
Preparation of Revaluation A/c. and Partners’ Capital A/c (with capital adjustment)
Chapter: Retirement of a Partner:
Calculation of New Ratio.
Treatment of Hidden Goodwill.
Preparation of Revaluation A/c. and Partners’ Capital A/c (with capital adjustment)
Preparation of Partners’ Loan A/c.
Chapter: Death of a Partner:
Calculation of Deceased P
Partners’ Share of Profit.
Preparation of Deceased Partners’ Capital A/c.
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 1
, Session 2022-23
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
Preparation of Executor’s A/c.
Chapter: Dissolution of a Partnership Firm:
Journal Entries relating to
o Settlement of Partners’ Loan
o Realisation from debtors and Bill Receivable (like Sundry Debtors of ₹100,000
due after 2 months were settled now at a discount of 12% p.a.)
o Asset Taken over by partner.
o Wife’s loan taken over by partner.
o Realisation expenses
Preparation of Realisation A/c.
Missing Value Questions
Chapter: Issue of Share Capital:
Issue of shares for consideration other than cash
Forfeiture and Reissue of Shares
Forfeiture and Reissue of shares issued on Pro
Pro-Rata basis.
Preparation of Balance Sheet showing share capital.
Share Forfeited Account
Chapter: Issue of Debentures
Issue of Debentures for consideration other than cash.
Issue of Debentures as collateral security.
Issue of Debentures with terms of redemption
redemption.
% Debenture A/c. and Discount/Loss on Issue of Debenture A/c.
Chapter: Financial Statements of Company:
Heads and Sub-heads
heads of the following items:
o Provision for Employee o Debentures with Maturity in
Benefits current financial year
o Outstanding Salary o Term Loan from Bank
o Unpaid Matured Deposits o Bank Overdraft
o Preliminary Expenses o Share Forfeited Account
Written off Balance
o Sales of Services o Capital Redemption Reserve
o Sales of Scrap o Stores and Spares
o Trade Payables o Current Investments
o Unclaimed Dividend o Premium on Redemption of
o Calls in Advance Debentures
o Interest Accrued o Livestock
o Securities
ties Premium Reserve o Matured Debentures
o Public Deposits o Mining Rights
o Provident Fund
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 2
, Session 2022-23
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
Chapter: Analysis of Financial Statements:
Limitations of Financial Statement Analysis
Vertical Analysis – Read it completely
Horizontal Analysis – Read it completely
Chapter: Ratio Analysis:
Current Ratio
Quick Ratio
Calculation of Current Assets, Current Liabilities, and Quick Assets
Debt-Equity Ratio
Proprietary Ratio
Inventory Turnover Ratio
Fixed Asset Turnover Ratio
Interest Coverage Ratio
Operating Ratio
Return on Capital Employed
Effects onn these ratios of certain transactions.
Chapter: Cash Flow Statement:
Full Cash Flow Statement with adjustments relating to:
o Depreciation/Accumulated Depreciation
o Interest on Debentures/Bank Loan
o Provision for Tax
o Proposed Dividend
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 3
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
MOST EXPECTED AND IMPORTANT TOPICS
FOR XII ACCOUNTS CBSE BOARD 2022-23
23
Chapter: Partnership Fundamentals:
Conceptual Theory Question (In absence of deed)
Calculation of Interest on Capital (when closing capital is given)
Preparation of Profit and Loss AppAppropriation
ropriation Account (includes adjustment of salary,
IOC, IOD and General Reserve)
Past Adjustment (IOC and IOD not allowed)
Past Adjustment (IOC & IOD not allowed + guarantee of profits)
Past Adjustment (more than 1 year)
Guarantee of Profit (by Partner to Firm)
Guarantee of Profit (in case of loss)
Chapter: Goodwill – Nature and Valuation
Average Profit Method - with adjustments of:
o Partners’ Remuneration
o Insurance not provided
o Undervaluation/overvaluation of stock
o Management Cost.
Super Profit Method
Calculation
culation of Average Profit or Capital Employed (when goodwill is given)
Capitalisation of Average Profit method.
Chapter: Change in PSR:
Treatment of Valued Goodwill (Raise and write off method)
Treatment of Reserves and Losses (when partners don’t want tto
o distribute them)
Chapter: Admission of a Partner:
Calculation of New Ratio.
Journal Entry when Goodwill is brought only in part.
Treatment of Hidden Goodwil
Goodwill.
Preparation of Revaluation A/c. and Partners’ Capital A/c (with capital adjustment)
Chapter: Retirement of a Partner:
Calculation of New Ratio.
Treatment of Hidden Goodwill.
Preparation of Revaluation A/c. and Partners’ Capital A/c (with capital adjustment)
Preparation of Partners’ Loan A/c.
Chapter: Death of a Partner:
Calculation of Deceased P
Partners’ Share of Profit.
Preparation of Deceased Partners’ Capital A/c.
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 1
, Session 2022-23
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
Preparation of Executor’s A/c.
Chapter: Dissolution of a Partnership Firm:
Journal Entries relating to
o Settlement of Partners’ Loan
o Realisation from debtors and Bill Receivable (like Sundry Debtors of ₹100,000
due after 2 months were settled now at a discount of 12% p.a.)
o Asset Taken over by partner.
o Wife’s loan taken over by partner.
o Realisation expenses
Preparation of Realisation A/c.
Missing Value Questions
Chapter: Issue of Share Capital:
Issue of shares for consideration other than cash
Forfeiture and Reissue of Shares
Forfeiture and Reissue of shares issued on Pro
Pro-Rata basis.
Preparation of Balance Sheet showing share capital.
Share Forfeited Account
Chapter: Issue of Debentures
Issue of Debentures for consideration other than cash.
Issue of Debentures as collateral security.
Issue of Debentures with terms of redemption
redemption.
% Debenture A/c. and Discount/Loss on Issue of Debenture A/c.
Chapter: Financial Statements of Company:
Heads and Sub-heads
heads of the following items:
o Provision for Employee o Debentures with Maturity in
Benefits current financial year
o Outstanding Salary o Term Loan from Bank
o Unpaid Matured Deposits o Bank Overdraft
o Preliminary Expenses o Share Forfeited Account
Written off Balance
o Sales of Services o Capital Redemption Reserve
o Sales of Scrap o Stores and Spares
o Trade Payables o Current Investments
o Unclaimed Dividend o Premium on Redemption of
o Calls in Advance Debentures
o Interest Accrued o Livestock
o Securities
ties Premium Reserve o Matured Debentures
o Public Deposits o Mining Rights
o Provident Fund
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 2
, Session 2022-23
Class
ass 12th - Accountancy
LAST TIME REVISION WORKSHEET
Chapter: Analysis of Financial Statements:
Limitations of Financial Statement Analysis
Vertical Analysis – Read it completely
Horizontal Analysis – Read it completely
Chapter: Ratio Analysis:
Current Ratio
Quick Ratio
Calculation of Current Assets, Current Liabilities, and Quick Assets
Debt-Equity Ratio
Proprietary Ratio
Inventory Turnover Ratio
Fixed Asset Turnover Ratio
Interest Coverage Ratio
Operating Ratio
Return on Capital Employed
Effects onn these ratios of certain transactions.
Chapter: Cash Flow Statement:
Full Cash Flow Statement with adjustments relating to:
o Depreciation/Accumulated Depreciation
o Interest on Debentures/Bank Loan
o Provision for Tax
o Proposed Dividend
Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Wish
Wish you all Good Luck and hope for the best results” 3
