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

Which of the following is NOT a method of valuation of goodwill?

29 May Shift 2

The new partner acquired the rights on admission into the firm. He acquires :

(A) Rights in past profits of firm before admission.

(B) Right to share in the future profits of the firm.

(D) The right to carry on competing business.

Choose the correct answer from the options given below:

4 June Shift 2

In case of admission of a partner, the new partner brings Rs. 20,000 only as his share of premium for goodwill out of Rs. 50,000. Journal entry for the adjustment of goodwill will be:

CUET Accountancy PYQs

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