CA Foundation Accounting MTP May 2026: Question Paper and Solutions

CA Foundation Accounting MTP Series May 2026 27 Questions Indexed

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

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27 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) Accounting Standards for non -corporate entities in India are issued by…
  2. Change in accounting policy may have a material effect on the items of financial statements.” Explain the statement with the help of an example.
  3. Prepare adjusted Cash Book and Bank Reconciliation Statement from the following particulars as on 31st December, 2025 : Particulars ₹ Bank Balance…
  4. Pass the Journal entries to record/rectify the following transactions in the books of Mr. Sudeep. Suspense account may be used, if required: (i)…
  5. The following are the details of machineries held by a firm: Machine Purchase Date Purchase Value (₹) Useful Life Scrap Value (₹) M 1 01/04/2021…
  6. From the following Income and Expenditure Account and additional information of Happy Club, prepare Receipts and Payments Accounts and Balance Sheet…
  7. Alpha, Beta and Gama are partners sharing profits and losses in the ratio of 1:2:3. Their Balance Sheet as on 31st March, 2026 was as follows:…
  8. A, B, C and D had been carrying on business in partnership sharing profits & losses in the ratio of 4:3:2:1. They decided to dissolve the…
  9. The balance sheet of Suraj on 1st April, 2025 was as follows: Particulars Amount (₹) Particulars Amount (₹) Trade Payables 19,50,000 Furniture and…
  10. For mutual accommodation of Tina and Meena, Tina drew upon Meena a bill of 15,000 at 3 months on 01.04.2025. Meena accepted the bill and returned to…
  11. One of your clients Mr. Srikant asked you to finalize his account for the year ended 31st March, 2026. As a basis for audit, Mr. Srikant furnished…
  12. The books of Sarvodaya Ltd. showed the following balance on 31st December, 2026:60,000 Equity Shares of 10 each fully paid;₹ 36,000 12% Redeemable…
  13. Sea Shell Limited is a company with' an authorised share capital of 2,00,00,000 in equity shares of 10 each, of which - 12 ,00,000 shares had been…
  14. Write short notes on: (i) Adjusted Selling Price method of determining cost of stock. (ii) Principal methods of ascertainment of cost of inventory.
  15. State with reasons, whether the following statements are true or false: (i) Accrual concept implies accounting on cash basis . (ii) Cost of…
  16. Distinguish between Provision and Contingent Liability .
  17. From the following information prepare the Purchase Book of M /s Raman & Company: (i) Purchased from Sita & Associates on credit: 30 pairs of black…
  18. M/s. Bharat Electricals purchased a second -hand machine on 1st April, 2023 for 3,20,000. Overhauling and erection charges amounted to 80,000.…
  19. On 30th September, 2025, the bank account of Kabir, according to the bank column of the Cash- Book, was overdrawn to the extent of 16,248. On the…
  20. From the following data, prepare an Income and Expenditure Account for the year ended 31st December 2025, and Balance Sheet as at that date of the…
  21. Arup, Swarup and Roop are partners in a firm. On 1st April 2024 their fixed capital stood at 50,000,25,000 and - 25,000 respectively. As per the…
  22. Mr. Manas gives the following particulars in respect of business carried on by him: Particulars Amount (₹) Capital Invested in business 9,00,000…
  23. Ram and Laxman were partners. The partnership deed provides that: (i) The annual accounts be balanced on 31st December each year; (ii) The profits…
  24. Renu decided to start a business of garments under the name of M/s. Fashion wears on 1st April, 2024. She had savings of about - 30,00,000. She…
  25. X Limited gives you the following information to find out Total Sales and Total Purchases: Particulars ₹ Particulars ₹ Debtors as on 1st April, 2025…
  26. The following errors were committed by the accountant of Om Prakash wires . (i) Purchase of 1620from Anupam & Co. passed through Sales Day Book as…
  27. Ashwani Limited issued 24 ,00,000 equity shares of 10 each at a premium of 2 per share, payable as 3 on application, 5 on allotment (including…