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CUET Accountancy 2026 PYQs13 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 13 May Shift 1

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past year questions, Partnership, CUET Accountancy 2026 13 May Shift 1

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Ajay and Bharat are partners in a firm. Their profit sharing ratio is 3:2. They admitted Chetan for 25% share of profit. Building is to be depreciated by 20% (Book Value Rs. 50,000) and the machinery would be appreciated by 10% (Book Value Rs. 40,000), an unrecorded Debtor of Rs. 1000 would be brought into the firm's books. What was Bharat's share of revaluation profit/loss :-

Solution

✅ Correct Option: 1

Building depreciation =50,000×20%=10,000= 50,000 \times 20\% = 10,000 (loss).

Machinery appreciation =40,000×10%=4,000= 40,000 \times 10\% = 4,000 (gain).

Unrecorded debtor =1,000= 1,000 (gain).

Net loss =10,000−4,000−1,000=5,000= 10,000 - 4,000 - 1,000 = 5,000.

Revaluation is shared in the old ratio 3:23:2, so Bharat bears 5,000×25=2,0005,000 \times \frac{2}{5} = 2,000 as loss.

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