CUET Accountancy - The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculating goodwill is | PYQs + Solutions

CUET Accountancy

Partnership

Medium

(A), (B) and (D) only

(A) and (C) only

(A) and (D) only

(B), (C) and (D) only

✅ Correct Option: 2

Related questions:

28 May Shift 1

A, B & C were sharing profits & losses in the ratio of 3 : 2 : 1. They decided to share profits & losses equally in future. General reserve was appearing in their books at Rs. 60,000. Goodwill was valued at Rs. 1,20,000. The partners do not want to disturb the general reserve. The adjusting entry will be :

15 May Shift 2

Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry

16 July Shift 2

In the absence of Partnership deed, partners share profits and losses :-

CUET Accountancy PYQs

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