CUET Accountancy - P, Q and R share profits equally. At the time of P's retirement, goodwill appears in the books at Rs. 3000. P will be credited with ___ amount for Goodwill share. | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 2

Partnership

Easy

common

Rs 2000

Rs 1000

Rs 3000

Rs 6000

✅ Correct Option: 2

Related questions:

27 May Shift 1

Arrange the various accounting aspects involved on retirement or death of a partner-

(A) Ascertainment of share of profit or loss up to the date of retirement/death

(B) Ascertainment of new profit sharing ratio and gaining ratio

(D) Settlement of the amounts due to retired/deceased partner

Choose the correct answer from the options given below:

(B), (C), (D), (A)
(B), (C), (A), (D)
(B), (A), (D), (C)
(C), (B), (D), (A)

13 May Shift 2

The sum due to the retiring partner and to the legal representatives/executors (in case of death) includes the following, in addition to credit balance of his capital/current A/c, share of goodwill, gain on revaluation of assets and liabilities.

3 June Shift 1

Steps involved in accounting treatment at the time of death/retirement of a partner -

(A) Adjustment of capital, if required

(B) Preparation of revaluation account, if required

(D) Settlement of the amounts due to retired / deceased partner

Choose the correct answer from the options given below:

CUET Accountancy 2025 3 June Shift 2 PYQs

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