Maharashtra HSC Book Keeping and Accountancy Important Questions 2026

Maharashtra HSC Book Keeping & Accountancy Important Questions 2026 are from chapters like Revaluation of assets and liabilities, trial balance, trading account, and the difference between manual and computerized accounting. Mastering journal entries, numerical problems, and understanding the concepts are important for better marks. Practice the Maharashtra HSC Accountancy Previous Year Question Papers along with important questions under the given time to improve speed and accuracy.

The Maharashtra HSC Accountancy (Book Keeping & Accountancy) exam is conducted for a 100-mark paper, with 80 marks for the theory and 20 marks for internal assessment. The theory paper of the Maharashtra HSC Book Keeping & Accountancy exam is further divided into two parts. Part A covers core accountancy concepts, while Part B often offers a choice between two sections: Analysis of Financial Statements and Computerized Accounting. The paper includes multiple-choice questions, short answer questions, long answer questions, and an essay-type question. There will be questions of 1 mark, 8 marks, 10 marks, and 18 marks. Continue reading the article to have more details on Maharashtra HSC Accountancy Important Questions 2026.

Read More: Maharashtra HSC Accountancy Sample Paper 2025-26

Maharashtra HSC Book Keeping & Accountancy Important Questions 2026 of 1 Mark

The 1 mark questions will be in the first half of the question paper where there will be 4 questions with sub questions. Each will be compulsory. Based on the last few year question papers, we have provided some of the Maharashtra HSC Book Keeping & Accountancy Important Questions 2026:

• From financial statement analysis the creditors are specially interested to know _______.
  (a) Liquidity
  (b) Profits
  (c) Sale
  (d) Share Capital
• Death is a compulsory _________.
  (a) dissolution
  (b) admission
  (c) retirement
  (d) winding up
• To find out the net profit or net loss of the business ______ Account is prepared.
  (a) Trading
  (b) Capital
  (c) Current
  (d) Profit and Loss
• Decrease in the value of assests should be __________ to Profit and Loss Adjustment Account.
  (a) debited
  (b) credited
  (c) added
  (d) none of the above
• Write a word/ term/ phrase as a substitute for each of the following statements:
  (1) Debit balance of Trading Account.
  (2) Expenses incurred on dissolution of firm.
  (3) Old Ratio less New Ratio.
  (4) Officer appointed by Govt. for noting of dishonour of bill.
  (5) Donation received for a specific purpose.
• Answer the following questions in only 'one' sentence each (1) What is Legacy? (2) What is CAS? (3) Who is called Insolvent Person? (4) What is Reserve Capital? (5) What is Revaluation Account?
• Partnership deed is an _______ of partnership.
• Aurangabad University prepares ________ Account instead of Profit and Loss Account.
• Returns outward are deducted from _________.
• New Ratio (-) ________ = Gain Ratio.
• Cash receipts which are recurring in nature are called as ________ receipts.
• Do you agree or disagree with the following statements : (1)  ‘Not  for Profit’ concerns do not prepare Balance Sheet. (2) Current Account always shows a debit balance. (3) A Bill of Exchange is a conditional order. (4) Retiring partner is entitled to share in Reserve Fund and Accumulated  Profit.  (5) On dissolution, Cash or Bank account is closed automatically.

Maharashtra HSC Book Keeping & Accountancy Important Questions 2026 of 8 Marks

• Ajita Ltd. issued 2,00,000 equity shares of? 10 cach at a premium of R 2 per share payable as 3 on application 4 5 on allotment (including 2 premium) on first and final call Applications were received for 2,40,000 equity shares and pr0 rata allotment was made to all the applicants. The excess application money was adjusted with allotment. Prerna who was allotted 400 shares failed to pay first and final call and her shares were forfeited. Pass Journal entries in the books of Ajita Ltd.
• Mohini Company Limited issued 25,000 equity shares of Rs. 100 each payable as follows:

On application - Rs. 20
On allotment - Rs. 30
On first call - Rs. 20
On second and final call - Rs. 30
Applications were received for 22,000 equity shares and  allotment of shares were made to them. All money received by the company. Pass Journal Entries in the books of Mohini Co. Ltd.

Maharashtra HSC Book Keeping & Accountancy Important Questions 2026 of 10 Marks

• Ram and Shyam were in partnership sharing profits and losses in the proportion of 3:1 respectively. Their Balance Sheet as on 31st March, 2020 stood as follows:

Balance Sheet as on 31st March, 2020

Liabilities	Amount (₹)	Assets	Amount (₹)
Sundry creditors	80,000	Cash	80,000
Bills payable	42,000	Sundry debtors	64,000
Capital Accounts:	—	Land and Building	32,000
Ram	1,20,000	Stock	40,000
Shyam	40,000	Plant and Machinery	60,000
General Reserve	16,000	Furniture	22,000
Total	2,98,000	Total	2,98,000

They admit Bharat into partnership on 1st April, 2020. The terms being that:

1. He shall have to bring in ₹40,000 as his Capital for 1/5th share in future profit and ₹20,000 as his share of Goodwill.
2. A provision for 5% doubtful debts to be created on sundry debtors.
3. Stock should be appreciated by 5% and Land and Building be appreciated by 20%.
4. Furniture to be depreciated by 20%.
5. Capital Accounts of all partners to be adjusted in their new profit sharing ratio through Cash Account.

6. Prepare:

   (a) Profit and Loss Adjustment Account

   (b) Partners' Capital Account

   (c) Balance Sheet of the new firm.

• Ajay, Vijay and Sanjay were partners sharing profits and losses in the ratio of 3:3:2. Their Balance Sheet as on 31st March, 2020 is as follows:

Balance Sheet as on 31st March, 2020

Liabilities	Amount (₹)	Assets	Amount (₹)
Creditors	32,700	Bank	19,800
Reserve Fund	12,000	Stock	14,800
Capital Accounts:	—	Debtors	15,000
Ajay	33,000	Live Stock	30,000
Vijay	45,000	Plant and Machinery	82,100
Sanjay	24,000	—	—
Total	1,46,700	Total	1,46,700

On 1st April, 2020 Sanjay retired from the firm on the following terms:
(1) R.D.D. is to be maintained at 10% on debtors.
(2) ₹300 to be written off from creditors.
(3) Goodwill of the firm is to be valued at ₹12,000, however, only Sanjay's share in it is to be raised in the books and written off immediately.
(4) Assets to be revalued as: Stock ₹18,900, Plant and Machinery ₹80,000, Live Stock ₹30,600.
(5) The amount payable to Sanjay to be transferred to his loan account after retirement.
Prepare:
1) Revaluation Account
2) Partners' Capital Account
3) Balance Sheet of the New firm.

• Sonali draws a bill on Rupali for 50,000 for 3 months. Rupali accepts the bill on the same date. Sonali sends the bill to the bank for collection. Before due date, Rupali finds herself unable to make payment of bill and requests Sonali to renew it. Sonali agrees to the proposal on a condition that Rupali should pay 20,000 in cash along with interest 1,000 and accept a new bill for 2 months for the balance. Rupali retired the bill by paying T 27,000. Give Journal entries in the books of Sonali and prepare Rupali's Account in the books of Sonali.

Also Check Maharashtra HSC Accountancy Syllabus 2025-26

Maharashtra HSC Book Keeping & Accountancy Important Questions 2026 of 18 Marks

• Dr. Anish Korgaonkar started practice as a Medical Practitioner on 1st April, 2019. He gives you the Receipts and Payments Account for the year ended 31st March, 2020 and the adjustments.
  Prepare Income and Expenditure Account for the year ended 31st March, 2020 and Balance Sheet as on that date:
  Dr. Anish Korgaonkar
  Receipts and Payments Account
  for the year ended 31st March, 2020

  Dr. Receipts	Amount (₹)	Payments	Amount (₹)
  To Cash introduced	50,000	By Furniture	16,000
  To Visit fees	20,000	By Equipment	20,000
  To Receipts from dispensary	60,000	By Drugs	14,000
  To Sundry receipts	10,000	By Salaries	24,000
  —	—	By Rent	12,000
  —	—	By Conveyance	8,000
  —	—	By Stationery	1,000
  —	—	By Electrical charges	10,000
  —	—	By Journals	1,000
  —	—	By Drawings	30,000
  —	—	By Balance c/d	4,000
  Total	1,40,000	Total	1,40,000

  
  Adjustments:
  (1) Receipts in arrears are visit fees ₹4,000 and dispensary ₹1,000.
  (2) Outstanding expenses: Rent ₹1,000 and Salaries ₹2,000.
  (3) Stock of drugs ₹2,000.
  (4) Depreciate furniture @ 8% p.a. and equipment ₹1,000.
  (5) 40% of the conveyance expenses are for domestic use.
• Mama and Kaka are partners in partnership firm sharing profits and losses equally. You are required to prepare Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date:
  Trial Balance as on 31st March, 2019

Debit Balances	Amount (₹)	Credit Balances	Amount (₹)
Insurance	30,000	Capital Accounts:	—
Land and Building (Addition of ₹40,000 w.e.f. 1st July, 2018)	1,00,000	Mama	1,00,000
Salaries	11,000	Kaka	1,00,000
Export duty	5,000	10% Bank loan (taken on 1st Oct, 2018)	60,000
Interest	2,000	Interest	3,000
Furniture	80,000	Bills payable	16,000
Debtors	52,000	—	—
Total	2,79,000	Total	2,79,000

Adjustments:
(1) Gross profit amounted to ₹69,000.
(2) Prepaid insurance ₹7,500.
(3) Depreciate Land and Building at 10% p.a. and Furniture at 5% p.a.
(4) Write off ₹2,000 for bad debts and maintain R.D.D. at 5% on sundry debtors.
(5) Closing stock is valued at ₹69,000.

• Asha and Nisha are partners sharing profits and losses in equal ratio. From the following Trial Balance and adjustments you are required to prepare Final Accounts:
  Trial Balance as on 31st March, 2019

  Debit Balance	Amount (₹)	Credit Balance	Amount (₹)
  Purchases	48,000	Capital accounts:	—
  Salaries	7,500	Asha	80,000
  Wages	2,800	Nisha	40,000
  Advertisement (2 years)	4,000	Bank Overdraft	34,000
  Sales Return	8,000	Sales	1,48,000
  Motor Van	63,000	R.D.D.	1,200
  Stock (1.4.2018)	94,500	Purchase Return	6,000
  Sundry Debtors	62,800	—	—
  Coal, Gas and Fuel	1,000	—	—
  Plant and machinery	17,600	—	—
  Total	3,09,200	Total	3,09,200

  Adjustments:
  (1) Closing stock is valued at cost price ₹ 88,000 and market price ₹ 90,000.
  (2) Asha and Nisha withdrew goods from business ₹ 3,000 and ₹ 2,000 respectively for their personal use.
  (3) Depreciate Motor Van by 5% and Plant and Machinery by 7%.
  (4) Reserve for Doubtful debts on Debtors at 5% is to be created.
  (5) Outstanding Wages ₹ 800.

Which Chapters have more Weightage in Maharashtra HSC Book Keeping & Accountancy?

In the Maharashtra HSC Accountancy syllabus 2025-26, the chapters that will have the highest weightage are Financial Statement Analysis, Partnership Accounts (Retirement of a Partner, Death of a Partner, Dissolution of Partnership Firm), Accounts of "Not for Profit" Concerns, Computerized Accounting System. Other important topics that are very crucial for this year are Revaluation of assets and liabilities, trial balance, trading account, and the difference between manual and computerized accounting.