CUET Accountancy - Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry | PYQs + Solutions

CUET Accountancy 2025 15 May Shift 2

Partnership

Easy

Yaduvanshi capital A/c Dr. 30,000

Madhulika capital A/c Dr. 30,000

Vidushi capital A/c Dr. 15,000

To profit & loss appropriation A/c 75,000

Yaduvanshi current A/c Dr. 30,000

Madhulika current A/c Dr. 30,000

Vidushi current A/c Dr. 15,000

To profit & loss appropriation A/c 75,000

Profit & loss appropriation A/c Dr. 75,000

To Yaduvanshi capital A/c 30,000

To Madhulika capital A/c 30,000

To Vidushi capital A/c 15,000

Profit & loss appropriation A/c Dr. 75,000

To Yaduvanshi current A/c 30,000

To Madhulika current A/c 30,000

To Vidushi current A/c 15,000

✅ Correct Option: 2

Related questions:

22 May Shift 2

'The business of a partnership concern may be carried on by all the partners or any of them acting for all.'

Which feature of partnership is indicated by the above statement?

26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Bank (fresh capital introduced)	(I) Debit side of Partner's Current Account
(B) Interest on drawings	(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)	(III) Credit side of Partner's Current Account
(D) Commission	(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

26 May Shift 2

The clauses of a partnership deed can be altered with the consent of ______

CUET Accountancy 2025 15 May Shift 2 PYQs