CUET Accountancy - Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account? | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 1

Partnership

Medium

common

Rs 16,000 will be credited to Rajinder's capital A/c.

Rs 2,000 will be debited to Surender's capital A/c.

Rs 8,000 will be credited to Rajinder's capital A/c

Rs 4,000 will be credited to Surender's capital A/c

✅ Correct Option: 2

CUET Accountancy 2025 3 June Shift 1 PYQs