CUET Accountancy - K, N and P are partners sharing profits and losses in the ratio of 4:3:2. N retires and the goodwill is valued at Rs 72,000. K and P decided to share future profits and losses in the ratio of 5:3. Find which of the following is not correct? | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 1

Partnership

Medium

common

K capital A/c is debited with Rs 13,000

N Capital A/c is debited with Rs 24,000

N Capital A/c is credited with Rs 24,000

P Capital A/c is debited with Rs 11,000

✅ Correct Option: 2

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Gobind, Hari and Pratap are partners. On retirement of Gobind, the goodwill already appears in the Balance Sheet at Rs. 24,000. The goodwill will be written-off -

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Answer the questions from based on following paragraph

Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.

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27 May Shift 2

K, N and P are partners sharing profits and losses in the ratio of 4 : 3 : 2. N retires and the goodwill is valued at Rs. 72,000. K and P decided to share future profits and losses in the ratio of 5 : 3. Identify the correct journal entry in this scenario.

CUET Accountancy 2025 22 May Shift 1 PYQs

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