CUET Accountancy - For distribution of profits made during a year among the partners, the following account is debited: | PYQs + Solutions

CUET Accountancy 2025 13 May Shift 2

Partnership

Easy

Profit and Loss Appropriation A/c

Partner's Capital A/c

Goodwill A/c

Profit and Loss A/c

✅ Correct Option: 1

Related questions:

31 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Gaining Ratio	(I) New Share - old Share.
(B) Sacrificing Ratio	(II) Old Share - New Share.
(C) Admission of Partner	(III) Partner may be paid amount more that what has actually due to him for hidden goodwill share.
(D) Retirement of Partner	(IV) Partner may or may not bring his share of goodwill in cash.

Choose the correct answer from the options given below:

30 May Shift 1

Himanshu withdrew Rs 2,500 at the end of each month. The partnership deed provides for charging of interest on drawings @ 12% p.a. Calculate interest on Himanshu's drawings for the year ended March 31, 2017

13 May Shift 2

Ravi, one of the partners, provided Rs 1,00,000 loan to the firm. In the absence of partnership deed, interest on partner's loan is allowed @ _____?

CUET Accountancy 2025 13 May Shift 2 PYQs

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