CA Foundation Accounting MTP January 2026: Question Paper and Solutions

CA Foundation Accounting MTP Series January 2026 29 Questions Indexed

ICAI Examination Archive & Suggested Answers: This directory indexes questions from CA Foundation Accounting MTP (January 2026). Open individual questions for available answers and working notes, then use the subject analysis to review historical marks.

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29 indexed questions. Open a question to read its full statement and available answer.

  1. State with reasons, whether the following statements are true or false: (i) A claim that an enterprise is pursuing through legal process, where the…
  2. Discuss the basic considerations in distinguishing between capital and revenue expenditure?
  3. From the following information, draw up a Trial Balance in the books of Mr. Naman as on 31st March, 2025: Particulars Amount (₹) Particulars Amount…
  4. The Machinery Account of a Factory showed a balance of 95 Lakhs on 1st April, 2024. The Books of Accounts Depreciation is written off of the Factory…
  5. Before preparation of the Trial Balance, the following errors were found in the books of Acer Associates . Give the necessary entries to correct…
  6. The Receipts and Payments account of Unity Circle Club prepared on 31st March, 2025 is as follows: Receipts and Payments Account Receipts Amount ₹…
  7. It was provided under the Partnership Agreement between Amar, Akbar and Anthony that in the event of death of a partner, the survivors would have to…
  8. Ram and Shyam are partners, sharing profits and losses in the proportion of 3/4th and - 1/4th As at 31st March, 2025, following is the Balance Sheet…
  9. Mr. Arun furnishes following information for his readymade garments business: (i) Receipts and Payments during 2024-25: Receipts Amount ₹ Payments…
  10. Vishwanath & Co. employs a team of 9 workers who were paid - 2,40,000 per month each in the year ending 31st December, 2023. At the start of 2024,…
  11. From the following information, calculate the historical cost of closing inventories using adjusted selling price method: Purchase during the year…
  12. The following notes pertain to Destiny Ltd.'s Balance Sheet as on 31st March, 2025: Notes ₹ in Lakhs (1) Share Capital Authorised : 20 crore shares…
  13. Grey Limited issued - 2,00,000 equity shares of, 10 each payable as 3 per share on application & 5 per share (including 2 as premium) on allotment…
  14. Which subsidiary books are normally used in a business?
  15. State with reasons whether the following statements are True or False: i. Discount column of the cash book is never balanced . ii. A Promissory Note…
  16. Discuss the limitations which must be kept in mind while evaluating the Financial Statements .
  17. M/s. Ritu wires were unable to agree the Trial Balance as on 31st March, 2025 and have raised a suspense account for the difference. Next year the…
  18. Prepare the Bank Reconciliation Statement of M/s. Jagannath Associates on 30th September, 2025 from the particulars given below: (i) The Bank Pass…
  19. India Craft Ltd. keeps no stock records, but a physical inventory of stock is made at the end of each quarter and the valuation is taken at cost.…
  20. From the following Receipts and Payments Account of Civil Lines Club, prepare Income & Expenditure Account for the year ended 31.12.2024 and its…
  21. Akbar, Birbal and Chetan shared profits and losses in the ratio of 5:3:2. They took out a Joint Life Policy in 2021 for 1,50,000, a premium of 9,000…
  22. Sita, Geeta and Meena are partners in a firm. On 1st April 2023, their fixed capitals stood at 7,50,000,3,75,000 and - 3,75,000 respectively. As per…
  23. X, Y and Z were partners sharing profit & losses in the ratio of 3:2:1. They decided to dissolve the business as on 31st March, 2025 when their…
  24. Hari Om carried on business as retail merchant. He has not maintained regular account books. However, he always maintained - 10,000 in cash and…
  25. Gaur associates bought a computer set on 01.04.2021 for 6,00,000 and charged depreciation @ 20% p.a. on diminishing balance method. They made…
  26. Mr. Anthony runs a factory which produces wires. The following details were obtained about his manufacturing expenses for the year ended 31st March…
  27. The books of Shrinivas Ltd. showed the following balance on 31st December, 2025: 60,000 Equity Shares of 10 each fully paid; 36,000 12% Redeemable…
  28. Hinduja Limited issued a prospectus inviting applications for 6,00,000 equity shares of 10 each at a premium of 2 per share payable as follows: On…
  29. Classify the following expenditures as capital or revenue expenditure: (i) Amount spent to reduce working expenses. (ii) Cost of repairs on second…