Share of revaluation profit of Amrita and Kalyani is : Option 1: Rs. 24,00,000 and Rs. 16,00,000 Option 2: Rs. 16,00,000 and Rs. 24,00,000 Option 3: Rs. 8,00,000 and Rs. 32,00,000 Option 4: Rs. 20,00,000 and Rs. 20,00,000

The answer is 'Rs. 24,00,000 and Rs. 16,00,000'. View full solution:

CUET Accountancy - Share of revaluation profit of Amrita and Kalyani is : | PYQs + Solutions

CUET Accountancy 2023 28 May Shift 1

Partnership

Medium

Rs. 24,00,000 and Rs. 16,00,000

Rs. 16,00,000 and Rs. 24,00,000

Rs. 8,00,000 and Rs. 32,00,000

Rs. 20,00,000 and Rs. 20,00,000

✅ Correct Option: 1

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Rohit and Mohit are partners in a firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7th share in the profits. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of Rohit and Mohit is-

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The new profit sharing ratio of Arun, Ram and Sanjeev will be:

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Match List-I with List-II

List-I	List-II
Revaluation of assets and reassessment of liabilities at the time of admission of a new partner	Journal Entry
(A) For increase in the value of an asset	(I) Revaluation A/c Dr. To Asset A/c
(B) For reduction in the amount of a liability	(II) Revaluation A/c Dr. To Liability A/c
(C) For reduction in the value of an asset	(III) Asset A/c Dr. To Revaluation A/c
(D) For appreciation in the amount of a liability	(IV) Liability A/c Dr. To Revaluation A/c

Choose the correct answer from the options given below:

CUET Accountancy 2023 28 May Shift 1 PYQs

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