CUET Accountancy - If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner. | PYQs + Solutions

CUET Accountancy

Partnership

Easy

debited to old partners' capital account

credited to all partners' capital accounts

credited to old partners' capital accounts

debited to all partners' capital accounts

✅ Correct Option: 3

Related questions:

30 May Shift 1

The profits for the five years of a firm are as follows – year 2013 Rs. 4,00,000;year 2014 Rs. 3,98,000; year 2015 Rs. 4,50,000; year 2016 Rs. 4,45,000 and year 2017 Rs. 5,00,000. Calculate the goodwill of the firm on the basis of a 4-year purchase of 5 years average profits:

30 May Shift 1

If the premium for goodwill is paid to the old partners directly / privately by the new partner, what journal entry will be recorded in the books of Partnership Firm :-

2 June Shift 2

Match List-I with List-II

List-I	List-II
(Types of goodwill)	(Treatment to done.)
(a) Existing Goodwill.	(I) no entry passed.
(B) Goodwill premium	(II) inferred from the capital arrangement.
(C) Goodwill paid privately.	(III) Written off.
(D) Hidden goodwill	(IV) credited to sacrificing partner.

Choose the correct answer from the options given below:

CUET Accountancy PYQs

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