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CUET Accountancy 2026 PYQs13 May Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 13 May Shift 2

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past year questions, Partnership, CUET Accountancy 2026 13 May Shift 2

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Kishor and Kunal were partners sharing profits and losses in the ratio of 5:3. On 1st April, 2026 they admitted Kushagra as a new partner and new ratio was decided as 3:2:1. Goodwill of the firm was valued as ₹ 18,00,000. Kushagra couldn't bring any amount for goodwill. The journal entry for the same would be:

Solution

✅ Correct Option: 4

Kushagra's share is 1/61/6, so his goodwill =18,00,000×1/6=3,00,000= 18{,}00{,}000 \times 1/6 = 3{,}00{,}000.

Sacrifice: Kishor 5/8−3/6=3/245/8 - 3/6 = 3/24; Kunal 3/8−2/6=1/243/8 - 2/6 = 1/24, so sacrificing ratio 3:13:1.

Kishor gets 2,25,0002{,}25{,}000 and Kunal 75,00075{,}000. As nothing is brought in, Kushagra's Current Account is debited.

Related questions:

2026: 13 May Shift 1

Match List-I with List-II

List-IList-II
(A) Intangible Asset(I) Goodwill Valuation Method
(B) Nature of Business(II) Characteristic of Goodwill
(C) Super Profit(III) Factor affecting value of Goodwill
(D) Self-generated(IV) Type of Goodwill

Choose the correct answer from the options given below:

2026: 12 May Shift 1

The new partner is required to compensate the old partners for their loss of share in the super profits of the firm for which he brings in an additional amount as premium for goodwill. This amount is shared by the existing partners in which ratio?

2026: 21 May Shift 1

Match List-I with List-II

List-IList-II
(A) In this method, the person who purchases a running business must pay in the form of goodwill, a sum which is equal to the profits he is likely to receive for the first few years.(I) Capitalised value of business
(B) It is desirable to value goodwill on the basis of the excess profits and not the actual profits.(II) Goodwill
(C) Average Profits × 100/Normal Rate of Return(III) Super Profit Method
(D) Capitalised value – Net Assets(IV) Average profit Method

Choose the correct answer from the options given below:

2026: 13 May Shift 2

Arrange the following steps in the correct sequence when hidden goodwill is adjusted through capital accounts in case of admission of a partner:

(A) Compare capital required with actual capital.

(B) Calculate firm's total capital on the basis of new partner's share.

(C) Compute actual capital of the firm including new partner's capital.

(D) Determine new profit sharing ratio.

Choose the correct answer from the options given below.

2026: 23 May Shift 2

Arrange the following steps in sequence for calculation of goodwill using Super Profit Method.

A. Calculate the average profit.

B. Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

C. Calculate the super profits by deducting normal profit from the average profits.

D. Calculate goodwill by multiplying the super profits by the given number of years' purchase.

Choose the correct answer from the options given below:

2025: 14 May Shift 1

Which Factor does not Affect the Value of Goodwill:

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