CUET Accountancy - On the date of admission of a partner there was a balance of ₹ 45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at: | PYQs + Solutions

CUET Accountancy

Partnership

Medium

₹ 49,500

₹ 50,000

₹ 40,000

₹ 40,500

✅ Correct Option: 2

Related questions:

27 May Shift 1

Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4th share in the profits, which he acquired wholly from Das. The new profit sharing ratio of the partners is-

29 May Shift 2

Match List I with List II

LIST I	LIST II
A. Loss on Revaluation	I. Credited to old partners in old ratio
B. Profit on Revaluation	II. Debited to profit and loss suspense A/C
C. Premium brought by new partner	III. Credited to old partners in sacrificing ratio
D. On the death of a partner, profit till the date of death is Rs. 2,000	IV. Debited to old partners in the old ratio

Choose the correct answer from the options given below:

13 May Shift 1

L and M are partners sharing profits in the ratio 3:2. N is admitted as a partner for 1/5th of the share which is acquired from L. Goodwill of the firm is valued at Rs. 40,000 on N's admission. N will have to pay for Goodwill:

CUET Accountancy PYQs

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