CUET Accountancy - A and B are partners sharing profits in the ratio of 3:2. They admit C for 1/5th share in the future profits which he gets equally from both A and B. The new profit sharing ratio will be: | PYQs + Solutions

CUET Accountancy 2025 13 May Shift 2

Partnership

Medium

A 4 /10, B 2 /10, C 4/10

A 5 /10, B 3 /10, C 2/10

A 2 /10, B 3 /10, C 5/10

A 3 /10, B 3 /10, C 4/10

✅ Correct Option: 2

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Rohit and Mohit are partners in a firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7th share in the profits. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of Rohit and Mohit is-

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The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be……. .

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Arrange the following steps for calculating Goodwill under Capitalisation of Average Profits Method in correct sequence-

(A). Ascertain the actual firm's capital (net assets) by deducting outside liabilities from the total assets.

(B). Compute the value of goodwill by deducting net assets from the capitalised value of average profits.

(C). Ascertain the average profits based on the past few years' performance.

(D). Capitalize the average profits on the basis of the normal rate of return to ascertain the capitalised value of average profits.

Choose the correct answer from the options given below:

CUET Accountancy 2025 13 May Shift 2 PYQs

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