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CUET Accountancy 2026 PYQs19 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 19 May Shift 1

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past year questions, Partnership, CUET Accountancy 2026 19 May Shift 1

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Hema and Nema are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Sama on Jan. 1, 2025 as a new partner for 1/4 share in the future profits. Sama brought Rs. 60,000 as his capital. Calculate the value of goodwill of the firm

Solution

✅ Correct Option: 3

Sama's capital of 60,00060,000 for 1/41/4 share implies total capital of the firm =60,000×4=2,40,000= 60,000 \times 4 = 2,40,000. Actual combined capital =80,000+50,000+60,000=1,90,000= 80,000 + 50,000 + 60,000 = 1,90,000. Hidden goodwill =2,40,000−1,90,000=50,000= 2,40,000 - 1,90,000 = 50,000.

Related questions:

2026: 21 May Shift 2

Which of the following needs no adjustments in the books of firm at the time of admission of a new partner?

2026: 6 June Shift 1

Match List-I with List-II

List-IList-II
(A) Incoming partner brings goodwill in cash(I) No entry to be passed
(B) Goodwill already exist in the books(II) Sacrificing partners are credited with their share and new partner is debited
(C) Incoming partner does not bring goodwill in cash(III) Amount of Premium is shared by the existing partners in the sacrificing ratio
(D) Goodwill paid privately to sacrificing partners(IV) Write-off the goodwill in old ratio

Choose the correct answer from the options given below:

2025: 3 June Shift 1

Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?

2025: 3 June Shift 1

Which among the following is Not the method of valuation of goodwill:

2024

Which of the following would affect the Revaluation Account at the time of admission of a partner?

2026: 24 May Shift 1

Match List-I with List-II

List-IList-II
(A) Amalgamation of partnership firms(I) Meaning of Goodwill
(B) Nature of Business(II) Treatment of goodwill
(C) The present value of a firm's anticipated excess earnings(III) Factor affecting goodwill
(D) When the new Partner brings goodwill in cash(IV) Need for valuation of goodwill

Choose the correct answer from the options given below:

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