AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2026 PYQs11 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 11 May Shift 1

Admission

past year questions, Partnership, CUET Accountancy 2026 11 May Shift 1

Medium

common

Aman, Baman and Chaman are partners in a firm sharing profits in the ratio of 3:2:1. Daman is admitted into the firm for 1/4th share in profits, which he gets as 1/8th from Aman and 1/8th from Baman. Daman is to bring in cash equivalent to 1/4th of the total capital of the firm as his capital. The capitals of Aman, Baman and Chaman after all adjustments related to revaluation profit, goodwill and reserves, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the capital brought in by Daman on the basis of old partners' capital balances.

Solution

✅ Correct Option: 4

Adjusted capitals of old partners =40,000+35,000+30,000=1,05,000= 40,000 + 35,000 + 30,000 = 1,05,000, which represents 34\frac{3}{4} of the firm's capital since Daman takes 14\frac{1}{4}.

Total capital =1,05,000×43=1,40,000= 1,05,000 \times \frac{4}{3} = 1,40,000.

Daman's capital =14×1,40,000=35,000= \frac{1}{4} \times 1,40,000 = 35,000.

Related questions:

2026: 11 May Shift 2

Match the LIST-I with LIST-II

LIST-ILIST-II
A. Increase in the value of each asset will be shownI.it indicates net gain, which will be transferred to the capital accounts of the old partners in old ratio.
B. If the closing balance of revaluation account shows a credit balance thenII.it indicates net loss which will be transferred to the capital accounts of the old partners in old ratio.
C. Decrease in the value of each asset will be shownIII.on credit side of Revaluation account
D. If the closing balance of revaluation account shows a debit balance thenIV.on debit side of Revaluation account

Choose the correct answer from the options given below:

2026: 13 May Shift 1

Ajay and Bharat are partners in a firm. Their profit sharing ratio is 3:2. They admitted Chetan for 25% share of profit. Building is to be depreciated by 20% (Book Value Rs. 50,000) and the machinery would be appreciated by 10% (Book Value Rs. 40,000), an unrecorded Debtor of Rs. 1000 would be brought into the firm's books. What was Bharat's share of revaluation profit/loss :-

2025: 2 June Shift 2

At the time of admission of partner ,Workmen Compensation Claim Exceeding Workmen Compensation Fund is transferred to

2026: 21 May Shift 1

A newly admitted partner acquires two main rights in the firm. Which of the following right is included in them?

2023: 20 June Shift 2

A, B and C are partners sharing profits in the ratio of 3:2:1. D is admitted into firm for 14\frac{1}{4} th share of profit, which he gets 18\frac{1}{8} from A and 18\frac{1}{8} from B. Calculate new profit sharing ratio of all the partners.

2026: 29 May Shift 1

Arun and Anuj are partners sharing profits in the ratio of 2:1. Varun was admitted for 1/4 share, half of which was given by Arun and the remaining was contributed by Anuj. Goodwill of the firm is valued at Rs. 40,000. How much of the goodwill will be credited to old partners' capital account?

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)