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

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.

Arrange the following steps in the correct sequence after admission of a new partner:

(A) Revaluation of Assets and Liabilities

(B) Calculation of New Profit Sharing Ratio and Sacrificing Ratio

(C) Preparation of Balance Sheet

(D) Distribution of Accumulated Profits and Reserves in the capital accounts

Which of the following are related to forfeiture of shares issued on premium :

(A) Share capital is debited with called up amount

(B) Calls in Advance is credited

(C) Share Forfeiture Account is credited with amount received

(D) Premium received on such Shares is debited, if it is received

Choose the correct answer from the options given below:

In fixed capital method, all adjustments for partner's drawings, salary, interest on capital, etc. are posted in the:

Out of the following statements, which are correct?

(A) In the absence of partnership deed, no partner is entitled to get salary or other remuneration.

(B) If a partner withdraws fixed amount at the end of each month, then interest on drawings will be calculated for an average period of 5.5 months.

(C) If the partnership deed provides for interest on capital but the firm does not have sufficient profit, then the interest will be paid to the extent of available profit in the ratio of interest on capital.

(D) If a partner is admitted into a firm with a guarantee of certain profit, then the deficiency of profit (if any) shall be borne by the old partners in their capital ratio.

At the time of admission, if goodwill was raised but not written off then its impact will be:

If partnership deed is silent, what is the interest on capital payable to the partners?

Which of the following is that portion of the called up capital, which has been actually received from the shareholders?

Deepti, Vinay and Himani are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 01, 2025. Firm's Goodwill is Rs. 90,000. What is the share of each of the sacrificing partner to be recieved from the gaining partner?

From the following options, which one should be deducted in ascertaining the amount due to retiring or deceased partner?

At the time of admission, the new partner brings in additional amount in the form of goodwill. For what it is used for ?

Select the features from the following which are related to Calls in Arrears:

(A) It reduces the paid-up capital

(B) It is debited where a company maintains its account.

(C) It increases liability

(D) It is shown on Asset side of the Balance Sheet

Choose the correct answer from the options given below:

Out of the following, which one is not a mode of reconstitution of a partnership firm?

Arrange the following in the sequence when shares are issued for consideration other than cash in the books of purchaser:

(A) Shares capital is credited for shares issued to vendor

(B) Assets aquired are debited

(C) Vendor's Account credited with purchase price

(D) Vendor's Account debited with issue of shares

Choose the correct answer from the options given below:

Abhay and Sumant are partners sharing profit in the ratio of 2:1. Aakriti was admitted for 1/4 share, half of which was given by Abhay and the remaining was contributed by Sumant. The goodwill of the firm is valued at Rs. 40,000. How much of the goodwill will be credited to the old partner's capital account?

Arrange the following in the correct sequence for the purpose of preparing Realisation account.

(A) Settlement of Unrecorded Assets and Liabilities

(B) Transfer of Assets and Liabilities to Realisation A/c

(C) Transfer of Profit and loss on Realisation

(D) Sale of Assets and Payment of Liabilities

Choose the correct answer from the options given below:

Vesting is a process to give right to ........................ to apply for shares of the company.

Match List-I with List-II

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Anurag and Manish are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 1,00,000 and Rs. 80,000 respectively. They admitted Priya on Jan. 1, 2025 as a new partner for 1/5 share in the future profits. Priya brought Rs. 80,000 as her capital. Calculate Priya's share of Goodwill.

Varun Ltd., purchased building worth Rs.1,50,000, machinery worth Rs.1,40,000 and furniture worth Rs.10,000 from Anuj Ltd., and took over its liabilities of Rs. 20,000 for a purchase consideration of Rs. 3,15,000. Varun Ltd., paid the purchase consideration by issuing 12% debentures of Rs.100 each at a premium of 5%. What will be the amount of goodwill in this case?

In public subscription, when there is no articles of association, which of the following provision is not true?

Anuj and Varun are partners sharing profits equally, with capitals of Rs. 1,00,000 and Rs. 80,000 respectively. Interest on capital is agreed @ 6% p.a. Varun is to be allowed an annual salary of Rs. 10,000. Manager is to be allowed commission Rs. 5,000. Anuj has also given a Loan on April 01, 2024 of Rs. 50,000 to the firm without any agreement. During the year 2024-25, the profit earned was Rs. 42,500. State their share of profit after necessary appropriations.

In a partnership, admission of a new partner is followed by retirement within two months but revaluation did not occur at either of the event. What is the most significant risk?

A company forfeited 5,000 shares of Rs. 10 each for non-payment of final call of Rs. 4 per share. Share Forfeiture A/c will be credited with the amount :

Balance of share forfeiture account is shown in the balance sheet under the item:

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.

If, at the time of admission of a partner, any reserve and accumulated profits or losses exist in books of the firm, these should be transferred to:

Identify the entries which are correct:

(A) For remuneration of partner - Debit Realisation A/c and Credit Partner's Capital A/c

(B) For sale of assets - Debit Realisation A/c and Credit Bank A/c

(C) For settlement of unrecorded liability - Debit Realisation A/c and Credit Bank A/c

(D) For transfer of general reserve - Debit General Reserve A/c and Credit Partners' Capital A/c

Choose the correct answer from the options given below:

On dissolution of a firm, Partner's Loan Account is transferred to:

Select the appropriate ratio for the following events. Match List-I with List-II

Choose the correct answer from the options given below:

Debentures of Rs. 5,00,000 is issued at a discount of 10% and redeemable at a premium of 10%. What will be the loss on issue of debentures?

The amount of security premium cannot be used for:

During retirement, the revaluation results in a loss. Which partner(s) should bear the loss?

Match List-I with List-II

Choose the correct answer from the options given below:

In case of dissolution of firm, if a partner agrees to take over the debtors of Rs. 80,000 at 10% discount, the entry for the same shall be:

Amit and Beena are partners in a firm sharing profits in the ratio of 3:2. They admit Chitra as a new partner. Amit sacrificed 1/4 of his share and Beena 1/3 of her share in favour of Chitra. The new profit sharing ratio of Amit, Beena and Chitra will be:

A share of Rs. 100 issued at Rs. 110 on which Rs. 70 (including premium) has been received is forfeited. What is the amount per share that will be transferred to capital reserve if share is reissued at Rs. 70 fully paid-up?

A partner is admitted and the following steps are to be followed while calculating his share of goodwill. Arrange them in a sequence.

(A) Calculate new partner's share of goodwill

(B) Calculate total capital of the newly constituted firm

(C) Calculate actual capital of all the partners

(D) Calculate goodwill of the firm

Suppose Gunjan and Himani are partners in a firm sharing profits and losses equally. During 2024-25, Gunjan withdrew Rs. 30,000 quarterly in the begining of each quarter. If interest is to be charged on drawings @ 8% p.a., the interest on drawings will be:

Choose the correct combination related to death of a partner:

(A) In case of death of a partner his claim is transferred to his executors.

(B) Deceased partner's share of profit may be calculated on the basis of last year's profit or on the basis of sales.

(C) Deceased partner's share of general reserve shall be calculated till the date of his death only.

(D) Deceased partner's claim shall include his interest on capital, interest on drawings (if any) till the date of his death.

In case of company limited by shares, the liability of members is:

Bhanu, Chaman and Dev were partners in a firm sharing profits in the ratio of 5:4:1. The profit of the firm for the year ending on March 31, 2025 was Rs.1,00,000. Chaman died on August 31, 2025. Bhanu and Dev decided to share future profits equally. It was decided that share of profit of the deceased partner will be worked out on the basis of sales, and it is specified that the sales during the year 2024-25 were Rs. 8,00,000 and the sales from April 1, 2025 to August 31, 2025 were Rs. 1,50,000. Chaman's share of profit for the period from April 1 to August 31, 2025 shall be:

From the following, which is not a feature of a company?

Amitabh, Deepika and Lara are partners in a firm sharing profits in the ratio of 3:2:1. Deepika retires. After making all adjustments relating to revaluation, goodwill and accumulated profit etc., the capital accounts of Amitabh and Lara showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Amitabh and Lara in their new profit sharing ratio. Calculate the actual cash to be paid off or to be brought in by the continuing partners.

Match List-I with List-II

Choose the correct answer from the options given below:

Following are the steps while making cash flow from operating activities. Arrange them in correct sequence:

(A) Operating Profit before Working Capital Changes

(B) Net Profit before Tax and Extra Ordinary Items

(C) Cash generated from Operations

(D) Tax Paid

Match List-I with List-II

Choose the correct answer from the options given below:

Given the following information:

Revenue from Operations Rs. 3,40,000

Cost of Revenue from Operations Rs. 1,20,000

Selling expenses Rs. 80,000

Administrative Expenses Rs. 40,000

Calculate the operating ratio.

A trading firm's average inventory is Rs. 40,000. If the inventory turnover ratio is 6 times and the firm sells goods at a gross profit of 25% on sales, ascertain the gross profit of the firm.

Comparative analysis is also known as ________ analysis.

When Extend Selection is active, what is the keyboard shortcut for selecting all data up to and including the last row?

Which of the following is not a component of computerised accounting system?

Which step completes an entry and moves the pointer to the cell to the right?

What is the activity sequence of the basic information processing model?

(A) Organise Data

(B) Collect Data

(C) Communicate Information

(D) Process Data

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below: