Partnership

Admission

Easy

common

"At the time of admission of a partner, provision for doubtful debts is found to be in excess."

Record this in the books of the firm.

Revaluation A/c Dr

To Provision for doubtful debts A/c

Provision for doubtful debts A/c Dr

To Partners' capital A/c

Provision for doubtful debts A/c Dr

To Revaluation A/c

Partners' capital A/c Dr

To Provision for doubtful debts A/c

✅ Correct Option: 3

An excess provision is a gain to the firm. The surplus is written back by debiting Provision for Doubtful Debts A/c and crediting Revaluation A/c, so the gain reaches old partners through the revaluation profit in their old ratio.

2025: 26 May Shift 2

Which of the following is not a method of valuation of goodwill?

2025: 29 May Shift 2

When goodwill has to be inferred from the arrangement of capital and profit sharing ratio, it is called.

2023: 11 June Shift 3

Match List - I with List - II.

List - I	List - II
(A) Profits of firm after admission of partner	(I) Sacrificing Ratio
(B) Goodwill brought in by new partner	(II) Old Ratio
(C) Profit on revaluation	(III) Gaining Ratio
(D) Retiring Partner's Share of Goodwill	(IV) New Ratio

Choose the correct answer from the options given below :

2026: 21 May Shift 1

Arrange the sequence of following important adjustments which require attention at the time of admission of a new partner.

(A) Valuation and adjustment of goodwill

(B) Balance sheet of Reconstituted firm

(D) New profit sharing ratio and Sacrificing ratio

Choose the correct answer from the options given below:

2026: 24 May Shift 1

Vandana and Megha are partners sharing profits in the ratio of 4:3. They admit Gurisha as a new partner for 1/10th share in the future profits of the firm which she gets equally from Vandana and Megha. Calculate new profit sharing ratio of Vandana, Megha and Gurisha.

2026: 13 May Shift 2

Rohit and Shobit are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2025 they admit Nobit as a new partner. On that date, there was a balance of Rs. 80,000 in general reserve and a debit balance of Rs. 40,000 in the profit and loss account of the firm. Regarding adjustment of general reserve:

"At the time of admission of a partner, provision for doubtful debts is found to be in excess." Record this in the books of the firm.

Solution

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CUET Accountancy Past Year Questions (Topic-Wise)

"At the time of admission of a partner, provision for doubtful debts is found to be in excess."

Record this in the books of the firm.