If information provided in the case study is used, the sacrifice or gain of Sonam share of goodwill will be : Option 1: Rs. 12,000 sacrifice Option 2: Rs. 24,000 gain Option 3: Rs. 36,000 sacrifice Option 4: Rs. 48,000 gain

The answer is 'Rs. 48,000 gain'. View full solution:

CUET Accountancy - If information provided in the case study is used, the sacrifice or gain of Sonam share of goodwill will be : | PYQs + Solutions

CUET Accountancy 2023 11 June Shift 3

Partnership

Medium

Rs. 12,000 sacrifice

Rs. 24,000 gain

Rs. 36,000 sacrifice

Rs. 48,000 gain

✅ Correct Option: 4

Related questions:

13 May Shift 1

On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from date of the last balance sheet till the date of the partner's death:

13 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Gaining Ratio	(I) An advantage of good name, reputation and wide business connections.
(B) New Profit Sharing Ratio	(II) The ratio in which the continuing partners have acquired the share from the retiring/deceased partner
(C) Sacrificing Ratio	(III) The ratio in which the remaining partners will share future profits after the retirement or death of any partner
(D) Goodwill	(IV) The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner

Choose the correct answer from the options given below:

4 June Shift 2

In case of retirement, the profit and loss suspense account is closed by transferring the amount to the _________.

CUET Accountancy 2023 11 June Shift 3 PYQs

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