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

Aman and Naman are partners. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Aman and 1/10 from Naman. The new profit sharing ratio of Aman, Naman and Jyoti is 4:3:3. Find the old ratio between Aman and Naman.

Which of the following statements are correct ?

(A) Retirement of a partner does not results into reconstitution of a firm.

(B) If the amount of any asset is understated, then the change, will be shown on the debit side of revaluation account.

(C) Profit or loss on the revaluation of assets and liabilities is distributed and transferred to capital account.

(D) Revaluation of asset is necessary because present value of assets may be different from book value.

Choose the Correct Combinations :

Which of the following statements are true ?

(A) Under fixed capital method, capital and current accounts are prepared.

(B) If a partner withdrew in the beginning of each month, average period is 6.5 months taken for interest calculation.

(C) No interest on capital is provided in the absence of partnership deed.

(D) In the absence of partnership deed, profits are distributed in the capital ratio.

Choose the correct answer from the options given below:

A and B are partners. The net assets of the firm, including fictitious assets of Rs. 5,000, are Rs. 105,000. The total external liabilities of the firm are Rs. 20,000. The normal rate of return is 10% and the average profit of the firm is Rs. 12,000. The value of goodwill as per capitalization of super profit method will be :

Choose the correct statement/ statements related to the dissolution of the firm from the following.

(A) Accumulated profits and reserves are transferred to realisation account.

(B) On dissolution of the firm, the partner's capital accounts are closed through realisation account.

(C) After transferring liabilities like creditors and bills payables to the realisation account, in the absence of any information regarding their payment, such liabilities are treated as never paid

(D) Partner's loan account is not transferred to realisation account.

Choose the correct answer from the options given below:

Manav, Nath and Narayan were partners in a firm sharing profits in the ratio of 1 : 2 : 1. The firm closes its books on 31st March every year. On 30th September, 2025 Nath died.

Match List-I with List-II

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Manubhai Patel Company Limited purchased assets of the book value of Rs. 12,00,000 from another company and agreed to make the payment of purchase consideration by issuing 10% debentures of Rs. 100 each at 150% premium. Find the number of debentures issued?

Match List-I with List-II

Choose the correct answer from the options given below:

Following is the extract of journal in BXC Ltd for Forfeiture of shares:

Which of the followings statements are true ?

(A) The number of reissued shares is 150.

(B) The number of reissued shares is 200.

(C) The number of forfeited shares is 200.

(D) The amount of share forefeited A/c transferred to capital reserve A/c will be Rs 4500.

Choose the correct answer from the options given below:

In case of admission of a partner, if a new partner is unable to bring the goodwill amount, then his/her goodwill premium will be taken from _________.

Mehak Ltd. took a loan of Rs. 30,00,000 from a bank against primary security worth Rs. 40,00,000 and issued 4,000, 6% debentures of Rs. 100 each as a collateral security. The company, again after one year, took a loan of Rs. 50,00,000 from the bank against the plant as primary security and deposited 6,000, 6% debentures of Rs. 100 each as collateral security.

What is the amount of debenture suspense account in the balance sheet?

Which of the following is not a feature of partnership as per Partnership Act 1932 ?

Anil, Bhanu and Chandu were partners in a firm sharing profits in the ratio of 5:3:2. Anil died on May 1, 2025. Half of the amount due to Anil is paid immediately. Choose the correct order of the following entries/ adjustments in the books of account:

(A) Pay half of the amount due to Anil's executor.

(B) Pay remaining half of the amount due with interest to Anil's executor in the next year.

(C) Preparation of Balance Sheet as on March 31, 2025

(D) Provide for interest on capital and share of profit/loss till the date of death.

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

Choose the correct order of the following in the Notes to Accounts of the Balance Sheet of the company:

(A) Calls in arrear

(B) Nominal Capital

(C) Issued Capital

(D) Subscribed and fully paid up capital

Choose the correct answer from the options given below:

ABC Ltd. is a firm with Amit, Ankit and Arjit as partners. The profit sharing ratio is 1:1:1. Ankit retires in the middle of the year from the firm, which of the following amount will not be considered in calculation of amount due to Ankit ?

Hanny, Pammy and Sunny are partners sharing profits in the ratio of 3 : 2 : 1 and Pammy retires. In the absence of any information regarding the acquisition of share in profit of the retiring partner (Pammy) by the remaining partners, it is assumed that they will acquire his/her share in ____________.

Which of the following is not a feature of a private company ?

Which of the following is not a factor affecting goodwill value of the firm ?

P, Q and S are partners in a firm sharing profit and losses in the ratio of 3:2:1. They agreed to admit R as a partner with 1/6th share in profits of the firm. The following Journal entries were passed on his admission. Arrange them in sequence

(A)

(B)

(C)

(D)

Find the correct sequence :

Profit & Loss Adjustment A/c is not prepared in which of the following case?

ABC Ltd. has a partnership deed as per which interest on drawing is to be charged @ 9% p.a and the total interest on drawings of Aman (partner) is calculated to be Rs 1755. Find the monthly amount he withdrew, if drawings are done at the beginning of every month during the year.

Krishna, Sandeep and Karim are partners sharing profits in the ratio of 3:2:1. Their fixed capitals are: Krishna Rs. 1,20,000, Sandeep 90,000 and Karim 60,000. For the year 2024-25, interest was credited to them at @ 8% p.a. instead of 5% p.a. Find the amount transferred from Karim to Krishna's current account as an adjustment.

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

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to:

The price payable by the employee for exercising the option granted in pursuance of the Employees Stock Option Plan is .

Manik Ltd. issued 10,000, 8% debentures of Rs. 100 each at a discount of 10% redeemable at a premium of 10%. The issue was subscribed and the amount was duly received. The company had a balance of Rs. 70,000 in securities premium reserve on that date. On this date, it also issued 1,00,000, equity shares of Rs. 10 each, also at a premium of Rs. 1 per share. Issue was also fully subscribed. Find the amount to be debited in the Statement of Profit and Loss while writting off Loss on Issue of Debentures A/c.

Dinesh, Ramesh and Suresh are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 1, 2015.

Match List-I with List-II

Choose the correct answer from the options given below:

Mohit and Rohan share profits and losses in the ratio of 3:1. They admit Rahul and Meena as partners with 1/4 share each in the profits with a guarantee that Rahul's share of profit shall be at least Rs. 60,000. Any deficiency in the share will be borne by Mohit and Rohan in their profit sharing ratio. The net profit of the firm for the year ending March 31, 2025 was Rs. 2,00,000. Find the share in deficiency borne by Mohit.

Choose the correct order in which the assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the dissolution of the firm.

(A) In paying to each partner the residue in profit sharing ratio.

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

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

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

Choose the correct answer from the options given below:

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 5 : 2 : 3. Deepa retires. After making all adjustments relating to revaluation, goodwill and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 2,60,000 and Rs. 1,00,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. Calculate the amount brought in or withdrawn by Asha.

A, B and C partners in a firm sharing profits & losses in the ratio of 3:2:1. C died on 13th June 2025, C's share of profit till the date of his death will be debited to ?

Which of the following is incorrect ?

Match List-I with List-II

Choose the correct answer from the options given below so that all items are matched:

Anu Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows: On Application Rs. 40 (including Rs.10 premium), On Allotment Rs. 30 (including Rs.10 premium), On First Call Rs. 30 On Second and Final Call Rs. 20

Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 share. Excess application money was utilised towards allotment. Raju to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment.

Find the amount of allotment not paid by Raju?

Manan, Naman and Sohan are partners in a firm sharing profits and losses in the ratio of 2:1:1. Naman retires and Manan and Sohan decided that the capital of the new firm will be fixed at Rs 1,80,000. The capital account of Manan and Sohan shows a credit balance of Rs 1,02,000 and Rs. 61,000 respectively after making all the adjustments. Calculate the actual cash brought in or paid off to Manan.

Which of the following is not a feature of the company ?

__________ debentures are the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures, Interest on debentures is paid to a person who produces the interest coupon attached to such debentures

The balance in 'Calls in Advance' account is shown as a separate item under the title Equity and Liabilities in the company's balance sheet under the sub head:

XYZ Industries Ltd., issued 2,000, 10% debentures of Rs. 100 each, at a premium of Rs. 10 per debenture payable as follows: On application Rs. 50. On allotment Rs. 60. The debentures were fully subscribed, and all money was duly received. Calculate the amount received at the time of allotment.

A shareholder holding 2500 shares of Rs. 10 each, did not pay the allotment money of Rs. 6 per share (including a premium of Rs. 2) and the first call of Rs.1 and final call of Rs. 2. Her shares were forfeited after the final call. What will be the amount of share forfeited account?

In which of the following case valuation of goodwill is not required ?

S, B and T share profits and losses in the ratio of 3:2:1. On Jan. 1, 2025. S and B agreed to share profit/losses equally on retirement of T. On this date:

1. Book value of land and building and furniture was Rs. 2,60,000 and Rs. 60,000 respectively and were revalued at Rs. 3,00,000 and Rs. 50,000 respectively;
2. Rs. 4,000 included in creditors was not likely to be paid;
3. Rs. 1,000 required for bad debt reserve.

Calculate the revaluation profit or loss from the above information.

X, Y and Z are partners sharing profits in the ratio of 4 : 3 : 2. Y retires and his capital after making adjustments for reserves and profits on revaluation stands at Rs 92,800. X and Z agreed to pay him Rs 1,00,000 in full settlement of his claim. Find the amount of goodwill of the firm.

At the time of dissolution of a firm, the balance sheet shows creditors - ₹ 50,000; firm's capital - ₹ 1,40,000; cash balance is ₹ 10,000. Other assets realised ₹1,50,000. Gain/Loss in the realisation account will be:

Which of the following statements are true in relation to securities premium resreve ?

(A) 'Securities Premium Account' is shown under the title 'Assets' of the company's balance sheet under the head 'Reserves and Surplus'.

(B) Securities Premium Account balance can be used to write-off preliminary expenses of the company;

(C) Securities Premium Account balance can be used to pay premium on the redemption of preference shares or debentures of the company.

(D) Securities Premium Account balance can be used to issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

Choose the correct answer from the options given below:

Which of the following studies the frequency of conversion of inventory of finished goods into revenue from operations.

Match List-I with List-II

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Arrange the following account balances in the order of occurence in the Balance Sheet (as per Schedule III) from top to bottom.

(A) Capital Redemption Reserve

(B) Equity Share capital

(C) Creditors

(D) Long Term Loan taken from SBI

Choose the correct answer from the options given below:

Common Size Statement is also known as ____________.

A trader carries an average inventory of Rs. 40,000. His inventory turnover ratio is 8 times. If he sells goods at a profit of 20% on Revenue from operations, find out the gross profit.

Arrange the following steps in order to create a Pie Chart.

(A) Select the chart type Pie from the ribbon.

(B) Under Pie types, select the 3-D Pie option

(C) Enter the data in a worksheet.

(D) Select the data from two (consecutive) columns only.

Choose the correct answer from the options given below:

Which coding type consists of alphabets or abbreviations as symbols to codify a piece of information?

Match List-I with List-II

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Which cell reference is used when we want a cell reference to stay fixed on a specific cell, which means that when a formula or function is copied and pasted to other cells, it does not change?

Which of the following is not a feature of CAS ?