Partnership

Admission

Hard

A and B are partners sharing profits in the ratio of 5 : 4. C is admitted as a partner and he acquires 25% of his share from A. B surrenders $\frac{1}{4}$ th from his share in favour of C. Calculate C's share in profit.

$\frac{3}{16}$

$\frac{14}{36}$

$\frac{1}{3}$

$\frac{1}{12}$

✅ Correct Option: 3

Let C's share = x. C acquires 25% of his share from A, so 0.25x from A and the remainder from B. B surrenders 1/4 of the firm's share, i.e., 1/4 to C, which is 0.75x. Hence 0.75x = 1/4, giving x = 1/3.

Note: The NTA wording is ambiguous; we interpreted B's surrender as 1/4 share of the firm (the only interpretation consistent with the options).

2026: 23 May Shift 2

If the furniture is shown as Rs. 15,000 in the balance sheet and is revalued at Rs. 12,000, then the journal entry for the same will be:

2025: 14 May Shift 1

Which Factor does not Affect the Value of Goodwill:

2025: 3 June Shift 1

The capital of the firm is Rs. 1,00,000 and normal rate of return is 8%. If the average profits for last 5 years are Rs. 12,000 then find goodwill of the firm based on 3 years' purchase of super profits.

2026: 29 May Shift 2

Match the LIST-I with LIST-II

LIST-I		LIST-II
A.	General Reserve	I.	Old Share - New Share
B.	Sacrificing Ratio	II.	Credit to Revaluation A/c
C.	Increase in value of Asset	III.	Debit to Revaluation A/c
D.	Increase in value of Liability	IV.	Accumulated Profit

Choose the correct answer from the options given below:

2022: 30 Aug Shift 2

At the time of admission of partner if goodwill exist in the books of account it will be written off among:

2025: 4 June Shift 2

Goodwill is a/an:

A and B are partners sharing profits in the ratio of 5 : 4. C is admitted as a partner and he acquires 25% of his share from A. B surrenders 14\frac{1}{4}41​ th from his share in favour of C. Calculate C's share in profit.

Solution

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CUET Accountancy Past Year Questions (Topic-Wise)

A and B are partners sharing profits in the ratio of 5 : 4. C is admitted as a partner and he acquires 25% of his share from A. B surrenders $\frac{1}{4}$ th from his share in favour of C. Calculate C's share in profit.