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CUET Accountancy 2026 PYQs31 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 31 May Shift 1

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past year questions, Partnership, CUET Accountancy 2026 31 May Shift 1

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Ambar, Bimla and Tara are partners in a firm sharing profits in the ratio of 3:2:1. Adnan is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ambar and 1/8 from Bimla. The total capital of the firm is agreed upon as Rs. 1,20,000 and Adnan 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 Ambar, Bimla and Tara 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.

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 1

New shares: Ambar 1/2−1/8=3/81/2-1/8=3/8, Bimla 1/3−1/8=5/241/3-1/8=5/24, Tara 1/6=4/241/6=4/24, Adnan 1/4=6/241/4=6/24, i.e. 9:5:4:69:5:4:6.

Required capitals on 1,20,0001{,}20{,}000: Ambar 45,00045{,}000, Bimla 25,00025{,}000, Tara 20,00020{,}000, Adnan 30,00030{,}000.

Against existing balances of 40,00040{,}000, 35,00035{,}000 and 30,00030{,}000: Ambar brings 5,0005{,}000; Bimla withdraws 10,00010{,}000; Tara withdraws 10,00010{,}000; Adnan brings 30,00030{,}000.

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At the time a new partner is admitted, revaluation of assets and liabilities is made for the:

2026: 20 May Shift 1

If nothing is specified as to how does the new partner acquire his share from the old partners; it may be assumed that he gets it from them:

2025: 4 June Shift 2

Hem and Nem 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 Sam on Jan. 1, 2025 as a new partner for 1/5 share in the future profits. Sam brought Rs. 60,000 as his capital. Sam share of goodwill will be:

2026: 12 May Shift 1

Match List-I with List-II

List-IList-II
(A) Goodwill(I) Amount brought by new partner to compensate old partners
(B) Sacrificing ratio(II) Advantage of reputation, enabling firm to earn super profits
(C) New profit sharing ratio(III) Ratio in which old partner give up their share
(D) Premium for Goodwill(IV) Ratio after reconstitution of partnership

Choose the correct answer from the options given below:

2026: 24 May Shift 1

A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. D is admitted into the firm for 1/4 share in profits. The total capital of the firm is agreed upon as Rs. 2,40,000 and D 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 C after all adjustments are Rs. 80,000, Rs. 70,000 and Rs. 60,000 respectively. Calculate the new capitals of A, B and C.

2026: 11 May Shift 1

Arrange the following accounting treatment steps in order/sequence in case of admission of a partner in a firm.

A. Adjustment of the partner's capital account balance.

B. Transfer of revaluation profit to capital account of partners.

C. Calculation of New Profit Ratio & Gaining Ratio.

D. Transfer of premium of goodwill to old partner's capital account.

Choose the correct answer from the options given below:

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