AfterBoards Logo
Skip to main contentSkip to solution

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

Partnership

past year questions, CUET Accountancy 2026 31 May Shift 1

Admission

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

Medium

common

Ram and Sita are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2025 they admit Naarad as a new partner. On that date, there was a balance of Rs. 25,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. The journal entry regarding the adjustment of a profit or loss will be:

Solution

✅ Correct Option: 1

The question asks only for the accumulated loss. A debit balance of 10,00010{,}000 in the Profit and Loss A/c is a past loss belonging to the old partners, so it is written off to their capital accounts in the old ratio 4:14:1.

Ram =10,000×4/5=8,000=10{,}000\times 4/5=8{,}000; Sita =10,000×1/5=2,000=10{,}000\times 1/5=2{,}000; To Profit and Loss A/c 10,00010{,}000. The general reserve is distributed by a separate entry.

Related questions:

2026: 24 May Shift 1

Match List-I with List-II

List-IList-II
(A) Average Profits × 100/Normal Rate of Return(I) Normal Profit
(B) Firm's Capital × Normal Rate of Return/100(II) Goodwill
(C) Total Profit /No.of years(III) Capitalised value of average profits
(D) Super Profits × 100 /Normal Rate of Return(IV) Average Profit

Choose the correct answer from the options given below:

2025: 30 May Shift 1

On the admission of a new partner, an increase in the value of assets is debited to:

2026: 11 May Shift 2

Arrange the following steps being used in calculating goodwill of the firm by Capitalisation of Super Profits.

A. Calculate normal profits on capital employed and average profit for past years.

B. Multiply the super profits by the required rate of return multiplier, i.e. Goodwill = Super Profits × 100/Normal Rate of Return

C. Calculate super profits by deducting normal profits from average profits.

D. Calculate capital of the firm, which is equal to total assets (excluding goodwill and fictitious assets) minus outside liabilities

Choose the correct answer from the options given below:

2026: 19 May Shift 1

Aman and Naman are partners. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Aman and 1/10 from Naman. The new profit sharing ratio of Aman, Naman and Jyoti is 4:3:3. Find the old ratio between Aman and Naman.

2023: 28 May Shift 1

If Average Capital Employed in a firm is Rs. 9,00,000 ; Average Profits Rs. 2,80,000 and Normal rate of return is 20%, then value of goodwill as per capitalisation of super profits is :

2026: 12 May Shift 1

Amar and Bahadur are partners in a firm sharing profits in the ratio of 3:2. They admitted Mary as a new partner for 1/4 share. The new profit sharing ratio between Amar and Bahadur will be 2:1. Calculate their sacrificing ratio.

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)