CUET Accountancy - If, at the time of admission of a new partner, profit and loss account appears in the books, it will be transferred to: | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 1

Partnership

Easy

common

All the partners

New partner only

Old Partners Capital account

Old and new Partners

✅ Correct Option: 3

Related questions:

22 May Shift 2

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……. .

15 May Shift 1

Hemant and Naman are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Samrat on Jan. 1, 2025 as a new partner for 1/5 share in the future profits. Samrat brought Rs. 60,000 as his capital. Calculate the value of goodwill of the firm?

30 May Shift 2

The minimum guaranteed amount shall be paid to the new partner when his share of profit as per the profit sharing ratio:

CUET Accountancy 2025 22 May Shift 1 PYQs

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