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

Anil and Bharat are partners in a firm with capitals of Rs. 18,00,000 and Rs. 12,00,000 respectively. Normal rate of return is 15% and goodwill calculated at 2 years' purchase of super profits is valued at Rs. 6,00,000. The average profits of the firm would be:

John, Janardan and Javed are partners in a firm. Their existing profit sharing ratio is 5 : 3 : 2. From 1st April 2025, they decide to share the future profits in the ratio 3 : 2 : 1. Workmen compensation reserve is appearing in the balance sheet on this date, if no information is available for the same, then it will be :

At the time of dissolution of a partnership firm goodwill does not appears in the balance sheet but a partner took over it at Rs. 60,000 for cash, how this transaction will be recorded in firm's books.

Anju and Bhawna are partners in a firm sharing profits in the ratio of 9/12 and 5/20. Chetna was admitted for 7/35 share and she could not bring her share of goodwill in cash. Goodwill of firm is valued at Rs. 50,000. Journalise :-

9% Debentures of Rs. 100 each are issued at 5% discount and redeemable at 8% premium, which of the following account will be credited, at the time of issue?

The amount of sundry assets transferred to Realization account was Rs. 3,60,000; 50% of these have been sold at a profit of Rs. 75,000; 30% of the remaining assets were sold at a discount of 12% and remaining were taken over by Raman (a partner) at 25% above book value. At what value were the assets taken over by Raman :-

Extract of Balance Sheet of a Partnership firm is given below :-

Provision for bad debts is to be made equal to 5% of debtors, for this adjustment what journal entry will be recorded related to Revaluation A/c?

Abhishek and Manan are partners in a firm. Abhishek withdrew regularly Rs. 8,000 every month for six months ending 31st March, 2026. If interest on drawings is charged @ 16% p.a. What amount will be charged as interest on drawings from Abhishek?

Observe the below given Journal Entry :-

Debentures are :-

Aryan Ltd took over assets worth Rs. 30,00,000 and liabilities of Rs. 9,00,000 for a purchase consideration of Rs. 36,00,000, which was paid as follows: For Rs. 6,00,000 bills were accepted and remaining was paid by issuing shares of Rs 100 each at a premium of 25 %. Find the amount which will be credited to securities premium account?

Identify the type of Goodwill that is to be recorded in accounts book according to Accounting Standard-26.

Aman, Billu and Sonu were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Sonu was guaranteed that her share of profit will not be less than Rs. 25,000. The firm's profit for the year ending on 31st March, 2025 was Rs. 1,00,000. The amount of deficiency to be borne by Aman was:

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 :-

Which of the following statements are correct?

(A) When a new partner is admitted into partnership firm, sacrificing ratio is used to distribute new partner's share of goodwill.

(B) Hidden goodwill is the excess of Total Capital of the new firm (based on new partner's capital) over the actual combined capital of all the partners.

(C) When a new partner is admitted into partnership firm, the new partner compensates the old partners for their loss of share in the divisible profits of the firm for which he brings in an additional amount that is called as Premium for Goodwill.

(D) Employees' Provident Fund should be distributed among the old partners at the time of admission of a new partner.

Choose the correct answer from the options given below:

Taxman Ltd had allotted 40,000 equity shares to the applicant of 48,000 shares on pro rata basis. The amount payable on application is Rs. 4. Manorama applied for 450 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from her are:

Aryan and Bala are partners in a firm. The admitted Charu as a partner with 20% share in profits of the firm. Charu brings Rs. 2,00,000 as her share of capital. Calculate the value of Charu's share of goodwill on the basis of her capital, given that the combined capital of Aryan and Bala after all adjustments is Rs. 5,00,000.

Consider the given steps below related to forfeiture of shares due to non receipt of allotment money and their re-issue and arrange them in correct sequence :-

(A) Reissue of forfeited shares and transfer of gain on reissue of forfeited shares.

(B) Notice to shareholder regarding non-payment of allotment money and call money.

(C) Non-payment of allotment money and call money by shareholder.

(D) Forfeiture of shares for non-payment of allotment and call money.

Choose the correct sequence of the above steps from the options given below:

Choose the odd items from the below :-

Purna Ltd. forfeited 16,000 equity shares of Rs. 200 each issued at a premium of 10% for non-payment of first and final call of Rs. 60 per share. The minimum amount at which all forfeited shares can be reissued will be :-

At the time of change in profit sharing ratio, what will be the impact of reduction in the value of investment by 20% assuming existing book value of investments in balance sheet as Rs. 2,40,000 and there is an investment fluctuation reserve existing in balance sheet at Rs. 30,000?

Arrange the following in the correct sequence related to adjustment of partners' capitals in case of retirement of a partner :-

(A) Calculation of cash to be brought in or withdrawn by the continuing partners

(B) Calculation of total capital of new firm

(C) Calculation of new profit sharing ratio

(D) Calculation of new capitals of the existing partners

Choose the correct answer from the options given below:

Arun and Barun are partners in firm. The net divisible profit as per Profit and Loss Appropriation A/c of the firm is Rs. 7,50,000. The total interest on partner's drawing is Rs. 12,000. Arun's salary is Rs. 12,000 per quarter and Barun's salary is Rs.1,20,000 per annum. The net profit/loss earned during this year was:

Which of the following given statements are true ?

(A) Share Capital is not shown under Equity & Liabilities in the Balance Sheet.

(B) Forfeited shares cannot be re-issued at a discount.

(C) Securities Premium Reserve can be used for issuing bonus shares.

(D) Capital reserve account has a credit balance.

Choose the correct answer from the options given below:

Consider the given steps below for Issue of Shares :-

(A) Receipt of Applications

(B) Allotment of Shares

(C) Issue of Prospectus

(D) Receipt of Minimum Subscription

Choose the correct sequence of above steps from the options given below:

When a new partner is entered into firm, goodwill already appeared in books of accounts of firm, should be written off in which of the following.

An existing partner of a firm passed away/died during the financial year. His share in estimated trading profits for the intervening period will be transferred to :

Varun Ltd. forfeited 40,000 equity shares of Rs. 100 each for non-payment of first and final call of Rs. 40 per share. The maximum amount of discount per share at which these shares can be re-issued will be :-

At the time of purchase of a business, if net assets are in excess of purchase consideration, the excess money will be ...... ?

Consider the given steps of calculating the Value of Goodwill on the Basis of Capitalization of Super Profit and arrange them in correct sequence.

(A) Calculation of Super Profits

(B) Calculation of Capital Employed/Net Assets

(C) Calculation of Normal Profits and Average Profits

(D) Calculation of Capitalized value of Super Profit

Choose the correct sequence of the above steps from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

Prince, Queen and Raja are partners sharing profit and losses in the ratio 5:4:3. Raja retires and Prince and Queen decide to share future profits equally. Gaining Ratio will be :-

Select the correct statements related to shares and share capital :

(A) Authorized Share Capital and Nominal Share Capital are different from each other.

(B) Equity shares cannot be redeemed during the lifetime of the company.

(C) Preference shares are not the real owner of the company.

(D) Equity shares cannot be issued to the public at a discount.

Choose the correct statements from the options given below:

Amol and Bimal are partners in a firm. Their capitals are Rs. 1,08,000 and Rs. 72,000 respectively. They admitted Chaman for 1/3 share in profits. Chaman brought proportionate amount of capital. The Capital brought in by Chaman would be?

Anjana, Bandana and Chandana are partners in a firm. They share profit and loss of the firm equally. Bandana died and his share is acquired by Anjana and Chandana in the ratio of 1:1. New profit sharing ratio between Anjana and Chandana would be :-

Capital employed by a partnership firm is Rs. 15,00,000. Its average profit is Rs. 1,80,000. The normal rate of return in similar type of business is 10%. What is the amount of super profits?

Amount forfeited on shares is shown under which head of the balance sheet?

Marry and Kayli were two partners sharing profits and losses in the ratio 5 : 7. Kayli was in need of funds, so she took a loan of Rs. 4,00,000 from the firm at an agreed rate of interest being 8% p.a. If Interest is charged on loan from the partner, it will be:

Consider the below given statements related to the partnership and select the correct statements :-

(A) Partners may contribute capital in proportion to profit-sharing ratio.

(B) Partners must not get any interest on the loan provided by him to the firm in the absence of partnership deed.

(C) A partner cannot transfer his share without consent of other partners.

(D) Partners must contribute capital only in cash.

Choose the correct combination of statements from the options given below:

Which of the following statments are true ?

(A) Debentures cannot be issued for consideration other than cash.

(B) Interest is not paid on the debentures issued as collateral security.

(C) Convertible Debentures will be redeemed by paying cash to the debenture holders.

(D) Premium on redemption of debentures is a loss for the company.

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

At the time of Dissolution of a Partnership Firm, the assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied among the partners in the following manner and order:

(A) The residue, if any, shall be divided among the partners in their profit sharing ratio.

(B) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner' loan);

(C) In paying the debts of the firm to the third parties;

(D) In paying to each partner proportionately what is due to him on account of capital; and

Choose the correct answer from the options given below:

Ajay, Bhanu and Chetan are partners in a firm sharing profit in the ratio of 3 : 4 : 2. Bhanu wants to retire from the firm. The profit on revaluation on that date was Rs. 1,80,000. New ratio between Ajay and Chetan is 5 : 3. Profit on revaluation will be distributed as :

Match List-I with List-II

Choose the correct answer from the options given below:

In case of dissolution of a firm, if a partner has agreed to bear the realisation expenses and payment is made by the firm, the correct journal entry would be:

Param, Quasim and Rozi were partners sharing profits in the ratio of their Capital contribution which was Rs. 12,00,000, Rs. 8,00,000 and Rs. 10,00,000 respectively. Their books are closed on 31st March every year. Param dies on 30th September, 2025. Under the partnership deed, deceased partner is entitled to his share of profit/loss from the closing of last balance sheet till the date of death based on the average profits of preceding three years. If profits were 2022 Rs. 1,00,000; 2023 Rs. 1,30,000 (loss); 2024 Rs. 1,95,000 and 2025 Rs. 1,60,000 then Param's share of profit/loss will be :

What is the other name of Quick Ratio

From the following information, calculate cash flow from financing activities:

During the year, the company repaid a loan of Rs. 1,00,000.

XYZ Ltd. has given you the following information:

Machinery as on April 01, 2025 Rs. 50,000

Machinery as on March 31, 2026 Rs. 60,000

Accumulated Depreciation as on April 01, 2025 Rs. 25,000

Accumulated Depreciation as on March 31, 2026 Rs. 15,000

During the year, a machine costing Rs. 25,000 with accumulated depreciation of Rs. 15,000 was sold for Rs. 13,000.

Calculate cash flow from Investing Activities on the basis of above information.

Arrange the following Current Liabilities in sequence as per Balance Sheet Format.

(A) Short-term borrowings

(B) Trade payables

(C) Other current liabilities

(D) Short-term provisions

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

Match List I with List II

Choose the correct answer from the options given below:

While typing a numeric value into a cell of a EXCEL spread sheet, the status bar shows the :-

Identify the feature of a computerized accounting system that enables data entry with security ?

For facilitating the document search, what type of codes are generally assigned to source documents to facilitate document search?

Identify the pair that is not included in components of Computerized Accounting System :-