CUET Accountancy - Existing Profit and Loss Account in the books of the firm will be shared/borne by partners in the ratio: | PYQs + Solutions

CUET Accountancy

Partnership

Easy

5 : 3 : 2

Equal Ratio

4 : 3 : 2

Ratio of closing capital claims

✅ Correct Option: 1

Related questions:

3 June Shift 1

Unrecorded assets when taken over by a partner are shown in :

3 June Shift 2

At the time of dissolution of a firm, the Bank Loan was Rs. 60,000 which was paid by Bhuvan (a partner) along with one-year interest at 6 %, which journal entry will be passed in the books of the firm :-

30 May Shift 1

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange the following in the correct sequence :

(A) In paying to each partner proportionately what is due to him on account of capital

(B) In paying the debts of the firm to the third parties

(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)

(D) The residue, if any, shall be divided among the partners in their profit sharing ratio

Choose the correct answer from the options given below:

CUET Accountancy PYQs

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