CUET Accountancy - K, N and P are partners sharing profits and losses in the ratio of 4 : 3 : 2. N retires and the goodwill is valued at Rs. 72,000. K and P decided to share future profits and losses in the ratio of 5 : 3. Identify the correct journal entry in this scenario. | PYQs + Solutions

CUET Accountancy 2025 27 May Shift 2

Partnership

Medium

common

K's Capital A/c Dr. 13,000

P's Capital A/c Dr. 11,000

To N's Capital A/c 24,000

K's Capital A/c Dr. 12,000

P's Capital A/c Dr. 10,000

To N's Capital A/c 22,000

K's Capital A/c Dr. 14,000

P's Capital A/c Dr. 12,000

To N's Capital A/c 26,000

K's Capital A/c Dr. 15,000

P's Capital A/c Dr. 13,000

To N's Capital A/c 28,000

✅ Correct Option: 1

CUET Accountancy 2025 27 May Shift 2 PYQs