ISC 2026 Accounts Question Paper for Class 12

About this paper

This is the ISC Class 12 Accounts paper, code 1226-858, from the 2026 board examination. It carries 80 marks, has 18 questions, and runs for three hours with fifteen minutes extra for reading. Section A, of 60 marks, is compulsory. Its ten questions include one-mark items on revaluation, death of a partner, forfeiture and commission, and longer questions on debentures, retirement, goodwill, the balance sheet, dissolution, admission and a share issue by Sara Ltd., with an internal choice in five questions. Candidates then answer every question in either Section B, on solvency ratios, a common-size balance sheet and cash flow, or Section C, on Excel, SQL and a spreadsheet of students' marks. Each alternative section has an internal choice in two questions. This copy has the questions only.

Exam

ISC Class 12

Subject

Accounts

Year

2026

Paper code

1226-858

Maximum marks

80

Time allowed

3 hours + 15 min reading

Questions

18

Pages

16

Answers included

No, questions only

Paper pattern

• Section A

  60 marks

  Questions 1–10, all compulsory; internal choice in five questions

• Section B or Section C

  20 marks

  Attempt all four questions from one section; internal choice in two questions in each. Section B (Questions 11–14) is ratios, a common-size balance sheet and cash flow. Section C (Questions 15–18) is spreadsheets, DBMS and SQL

Topics covered

• Admission and retirement of a partner
• Death of a partner
• Goodwill
• Dissolution of partnership
• Partnership appropriation
• Issue and forfeiture of shares
• Issue and redemption of debentures
• Company balance sheet
• Accounting ratios
• Common-size balance sheet
• Cash flow statement
• Spreadsheets and SQL

Questions from this paper

1. Rishabh and Alex share profits in the ratio 3:2. On Manpreet's admission, a motor vehicle shown at ₹1,50,000 is found to be overvalued by 25%. At what value is it shown in the reconstituted balance sheet?
2. On 1 July 2024, Udaan Ltd. issued 20,000, 7% debentures of ₹100 each at a premium of 5%, redeemable after five years at a premium of 10%. Interest is payable yearly on 31 March. Pass the journal entries on issue and prepare the Interest on Debentures Account for 2024-25.
3. Kamal, Anwar and Sam were equal partners. On 1 April 2025 Sam's capital was ₹1,05,000. He died on 31 July 2025, having withdrawn ₹20,000. Interest on capital is 10% per annum, interest on drawings is 6% per annum, his interim profit is ₹12,000 and goodwill is valued at ₹90,000. Prepare Sam's Capital Account.
4. Give any two reasons for the importance of data integrity in a database system.
5. Distinguish between a relative cell reference and an absolute cell reference in MS Excel, with one example of each.
6. Name the MS Excel function used to count the number of cells that meet a specific criterion.