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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

Retirement/Death

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

Medium

common

Negi, Bhagi, Tiwari and Chaman are partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2 : 1. On Negi's retirement, the goodwill of the firm is valued at Rs. 36,000. Bhagi, Tiwari and Chaman decided to share future profits equally. What will be the journal entry for the treatment of goodwill without opening 'Goodwill Account' in this case?

Solution

✅ Correct Option: 1

Negi's share =2/6=1/3=2/6=1/3, so his goodwill =36,000×1/3=12,000=36{,}000\times 1/3=12{,}000.

Gaining ratio == New −- Old. Bhagi: 1/3−1/6=1/61/3-1/6=1/6; Tiwari: 1/3−2/6=01/3-2/6=0; Chaman: 1/3−1/6=1/61/3-1/6=1/6.

Only Bhagi and Chaman gain, equally. Each is debited 12,000×1/2=6,00012{,}000\times 1/2=6{,}000 and Negi's Capital is credited 12,00012{,}000.

Related questions:

2026: 21 May Shift 1

Which account would be debited for being deceased partner's share of loss for the intervening period in the books of account?

2026: 13 May Shift 2

Match List-I with List-II

List-IList-II
(A) Death of an existing partner(I) Executor's Account
(B) Transfer of closing balance of Deceased partner's capital Account(II) Profit for the Intervening Period
(C) Bad Debts Recovered(III) Debit Side of Revaluation Account
(D) Liability not recorded in Balance Sheet(IV) Credit side of Revaluation Account

Choose the correct answer from the options given below:

2025: 15 May Shift 1

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Deepa retires. After making all adjustments relating to revaluation, goodwill, Payment to Deepa and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. You are required to calculate the new capitals of the partners i.e Asha and Lata.

2025: 15 May Shift 2

Net Amount of installment payable at the end of 2nd year to Kabir is

2026: 24 May Shift 1

Mohit, Sohan and Rahul are partners sharing profits in the ratio of 2:2:1. Sohan died on 30th September 2025. According to the deed, his legal representatives are entitled to:

(a) Balance in Capital Account :Rs. 60,000

(b) His Share of goodwill is valued at :Rs. 19,200

(c) Share in profits up to the date of death :Rs. 3,200

(d) Interest on capital account @ 12% p.a.

Amount payable to Sohan's Executors A/c will be:

2026: 12 May Shift 1

What is not included in the sum due to the retiring partner?

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