CUET Accountancy - A and B are partners, sharing profits equally. Their fixed capitals were Rs 2,00,000 and Rs 3,00,000 respectively. Interest on capital as provided under partnership deed @10% p.a was omitted. Select the correct option from the following: | PYQs + Solutions

CUET Accountancy 2025 29 May Shift 2

Partnership

Medium

common

A capital account will be debited by 25,000

A capital account will be debited by 5,000

B capital account will be debited by 5,000

B capital account will be debited by 25,000

✅ Correct Option: 2

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Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry

CUET Accountancy 2025 29 May Shift 2 PYQs

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