CUET Accountancy - The New Profit Sharing Ratio in this case is: | PYQs + Solutions

CUET Accountancy 2025 14 May Shift 1

Partnership

Medium

9:5:4:2

9:5:4:6

9:4:3:2

9:3:4:7

✅ Correct Option: 2

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CUET Accountancy 2024 Slot 1

The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following:

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At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

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A and B share profits in the ratio of 3:2. C was admitted as a partner who gets 1/5 share. New profit sharing ratio, if C acquires 3/20 from A and 1/20 from B, would be:

CUET Accountancy 2025 14 May Shift 1 PYQs

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