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CUET Accountancy 2026 PYQs24 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 24 May Shift 1

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past year questions, Partnership, CUET Accountancy 2026 24 May Shift 1

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Arrange the following steps involved under super profit method of calculating goodwill in a sequence:

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(B) Calculate the super profits by deducting normal profit from the average profits.

(C) Calculate goodwill by multiplying the super profits by the given number of years' purchase.

(D) Calculate the average profit.

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 3

Average profit must be known first, then normal profit on capital employed. Super profit == Average profit −- Normal profit, and goodwill == Super profit ×\times number of years' purchase. So the order is (D), (A), (B), (C).

Related questions:

2026: 11 May Shift 2

For the right to acquire share in the assets and profits of the partnership firm, the new partner brings:

2026: 29 May Shift 2

A, B and T are partners in a firm sharing profits in the ratio of 3:2:1. Z is admitted into the firm for 1/4 share in profits, which he gets as, 1/8 from A and 1/8 from B. The total capital of the firm is agreed upon as Rs. 1,20,000 and Z is to bring in cash equivalent to 1/4 of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and T after all adjustments, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the cash brought in or paid to each partner.

2023: 20 June Shift 2

A and B are partners sharing profits in the ratio of 2:1. C is admitted for the 1/4th share of profits, who brings Rs.20,000 as capital. After all adjustments related to goodwill, revaluation of assets and reassessment of liabilities etc, Capital of A and B are Rs.45,000 and Rs.15,000 respectively. It is agreed that partners capitals should be according to the new profit sharing ratio.

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2026: 24 May Shift 1

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2025: 3 June Shift 2

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2026: 23 May Shift 2

A and B are partners sharing profits in the ratio of 4:3. C was admitted as a new partner for 1/4 share in the future profits of the firm. What would be the new profit sharing ratio of A, B and C?

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CUET Accountancy Past Year Questions (Topic-Wise)