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CUET Accountancy 2026 PYQs6 June Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 6 June Shift 1

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past year questions, Partnership, CUET Accountancy 2026 6 June Shift 1

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Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2. They admitted Ajay into partnership with 1/4 share in profits. Ajay brings in Rs. 30,000 for capital and the requisite amount of premium in cash. The goodwill of the firm is valued at Rs. 20,000. The new profit sharing ratio is 2:1:1. Give necessary journal entry for the adjustment of goodwill.

Solution

✅ Correct Option: 3

Ajay's premium =20,000×1/4=Rs. 5,000= 20,000 \times 1/4 = Rs.\,5,000. Sacrificing ratio == old −- new: Vijay 3/5−2/4=2/203/5 - 2/4 = 2/20, Sanjay 2/5−1/4=3/202/5 - 1/4 = 3/20, i.e., 2:32:3. Entry: Premium for Goodwill A/c Dr. 5,0005,000; To Vijay's Capital A/c 2,0002,000; To Sanjay's Capital A/c 3,0003,000.

Related questions:

2025: 14 May Shift 1

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

2026: 6 June Shift 1

Abhishek and Balkishan are partners sharing profits in the ratio of 2:1. Chandrika is admitted into the firm for 1/4 share of profits. Chandrika brings in Rs. 20,000 in respect of her capital. The capitals of the old partners Abhishek and Balkishan, after all adjustments relating to goodwill, revaluation of assets and liabilities, etc., are Rs.45,000 and Rs.15,000 respectively. Calculate the cash to be brought in or paid off by the old partners to adjust their capitals in new ratio.

2025: 27 May Shift 2

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2025: 24 May Shift 1

Match List-I with List-II

List-IList-II
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2026: 31 May Shift 1

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

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Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4th share in the profits, which he acquired wholly from Das. The new profit sharing ratio of the partners is-

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