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CUET Accountancy 2025 PYQs24 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 24 May Shift 1

Retirement/Death

past year questions, Partnership, CUET Accountancy 2025 24 May Shift 1

Medium

common

A, B and C are partners sharing profits in the ratio of 3:2:1. A retires and his share is taken up by B and C in the ratio of 3:2. Calculate the new profit sharing ratio.

Solution

✅ Correct Option: 2

Initial profit sharing ratio of A, B and C = 3 : 2 : 1

Total parts = 3 + 2 + 1 = 6

A's share = 36\frac{3}{6} = 12\frac{1}{2}

B's original share = 26\frac{2}{6} = 13\frac{1}{3}

C's original share = 16\frac{1}{6}

A retires and his share (12\frac{1}{2}) is taken up by B and C in the ratio 3 : 2.

B's gain from A's share = 35\frac{3}{5} × 12\frac{1}{2} = 310\frac{3}{10}

C's gain from A's share = 25\frac{2}{5} × 12\frac{1}{2} = 210\frac{2}{10} = 15\frac{1}{5}

New share of B = Original share + Gain from A's share

= 13\frac{1}{3} + 310\frac{3}{10}

= 10+930\frac{10 + 9}{30} = 1930\frac{19}{30}

New share of C = Original share + Gain from A's share

= 16\frac{1}{6} + 15\frac{1}{5}

= 5+630\frac{5 + 6}{30} = 1130\frac{11}{30}

New profit sharing ratio = B : C = 1930\frac{19}{30} : 1130\frac{11}{30} = 19 : 11

Related questions:

2026: 20 May Shift 1

Select the correct sequence of accounts prepared in case of death of a partner.

(A) Prepare the deceased partner's executor's account.

(B) Determine the gaining ratio and new profit sharing ratio among the remaining partners.

(C) Prepare the deceased partner's capital account.

(D) Prepare the Revaluation account, if required.

Choose the correct answer from the options given below:

2026: 19 May Shift 1

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 5 : 2 : 3. Deepa retires. After making all adjustments relating to revaluation, goodwill and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 2,60,000 and Rs. 1,00,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. Calculate the amount brought in or withdrawn by Asha.

2026: 13 May Shift 2

Karan, Neha and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2. Neha retires and the goodwill is valued at Rs. 72,000. Karan and Pankaj decided to share future profits and losses in the ratio of 5 : 3. The journal entry for adjustment of goodwill will be:

2026: 11 May Shift 1

Arrange the following steps in the order of the accounting treatment in case of death of a partner.

A. Adjustment of capital account of the existing partner.

B. Transfer of share of goodwill to deceased partner's capital account.

C. Transfer of amount from deceased partner's capital account to executor's account.

D. Calculation of New Profit Ratio and Sacrificing Ratio.

Choose the correct answer from the options given below:

2026: 24 May Shift 1

The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called the:

2026: 23 May Shift 2

The sum due to the retiring partner includes:

A. His share of accumulated profits

B. Amount due to the third party

C. His share of goodwill

D. Credit balance of his capital account

Choose the correct answer from the options given below:

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