CUET Accountancy 2026 PYQs20 May Shift 1. Free, no login required.

Ansh and Abhi are partners sharing profits and losses in the ratio of 3 : 2. Their capital accounts showed balances of Rs. 3,00,000 and Rs. 4,00,000 respectively on April 01, 2024. Calculate interest on Ansh's Capital for the year ending March 31, 2025, if the partnership deed provides for interest on capital @ 8% p.a. and the firm earned a profit of Rs. 14,000 during the year.

Balance Sheet of A, B & C as on 31st March, 2025

C retires and following revaluations took place.

Patents be valued at Rs.8,000; Machinery at Rs.28,000; and Buildings at Rs.25,000.

Find Revaluation Profit/Loss

Match List-I with List-II

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Under which of the following cases, the Court can order the dissolution of a partnership firm?

(A) When a partner persistently commits breach of partnership agreement.

(B) When a partner has transferred the whole of his interest in the firm to a third party.

(C) By the death of a partner.

(D) When the business of the firm cannot be carried on except at a loss.

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For one person company, Rule 3 of the Companies (Incorporation) Rules, 2014 provides that its average annual turnover of three years does not exceed ..................

Who are entitled to share the distributable profits of the company after satisfying the dividend rights of the preference shareholders?

200 shares of Rs.100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs.60 per share including premium. The first and final call of Rs.20 per share on these shares were not made. The forfeited shares were reissued at Rs.70 per share as fully paid-up. Find the amount of capital reserve.

A Limited issued 5000, 10% debentures of Rs. 100 each, at a premium of Rs. 10 per debenture payable as follows:

On application Rs. 25, On allotment Rs. 45 (including premium), On first and final call Rs. 40.

The debentures were fully subscribed and all money was duly received.

Select the correct journal entries related to the above case from the following.

(A)

(B)

(C)

(D)

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The Goodwill of a firm is Rs 30,000, when it is valued at three years' purchase of the super profits of the business. Find the normal rate of return, if the firm's capital employed is Rs 5,00,000 and average profits of last five years were Rs 60,000.

Select the correct sequence of accounts prepared in case of death of a partner.

(A) Prepare the deceased partner's executor's account.

(B) Determine the gaining ratio and new profit sharing ratio among the remaining partners.

(C) Prepare the deceased partner's capital account.

(D) Prepare the Revaluation account, if required.

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The capital of the firm of M and N is Rs. 1,00,000 and the market rate of interest is 15%. The annual salary to partners is Rs. 6,000 each. The profits for the last 3 years were Rs. 30,000 (for 2022); Rs. 36,000 (for 2023) and Rs. 42,000 (for 2024). Goodwill is to be valued at 2 years' purchase of the last 3 years' average super profits or 3 years' purchase of the last 2 years' average super profits, whichever is less. Calculate the goodwill of the firm.

At the time of admission of a new partner, if Profit and Loss Account debit balance exist in the books, then which of the following entry will be done in order to distribute it?

In case of death of a partner, for deceased partner's share of profits for the intervening period (from the closing of last year account till the date of death) in the books of accounts, the following journal entry is recorded:

Profit and Loss Supense A/c Dr.

To Deceased Partner's Capital A/c

Which of the following entry is to be made later to close the Profit and Loss Suspense Account?

In the absence of any information regarding the acquisition of share in profit of the retiring partner by the remaining partners, it is assumed that they will acquire his/her share in ..................

Nominal share capital is ?

On Bearer debentures, Interest is paid to a person who produces the .................. attached to such debentures?

At the time of retirement of a partner, arrange the following accounts in the correct sequence.

(A) Partners' Current A/c

(B) Revaluation A/c

(C) Balance Sheet

(D) Partners' Capital A/c

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The ratio in which the continuing partners have acquired the share from the deceased partner is known as .......

H Ltd. purchased machinery worth Rs.99,000 from P Ltd. The payment was made by issue of 12% debentures of Rs.100 each. Pass the necessary journal entries for the issue of debentures when debentures are issued at 10% discount in the books of H Ltd.

In case debentures were issued as collateral security for taking loan from ABC Bank. Choose the correct journal entry for cancellation of debentures as collateral security on repayment of bank loan.

Select the essential features of partnership from the following:

(A) Partnership is the result of an agreement between partners.

(B) Co-ownership of a property between people amounts to partnership.

(C) Sharing of profits and losses of a business.

(D) Each partner carrying on the business is the principal as well as the agent for all the other partners.

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Which of the following is a written instrument acknowledging a debt under the common seal of the company?

Which Accounting Standard (AS) defines an intangible asset, as an identifiable, non-monetary, without physical existence and held for use in the production or supply of goods or services for rental to others or for administrative purposes?

From the following options, select the deductions to be made from the share of a partner at the time of his/her retirement.

(A) Debit balance of his current account

(B) Share of goodwill to be written off

(C) Share of accumulated losses

(D) Share of loss on revaluation of assets and liabilities

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Harish and Munish are partners in a firm sharing profits and losses in the ratio of 3:2. Rakesh is admitted into partnership for 1/3 share in profits. He brings in Rs. 50,000 as capital, but not in a position to bring any amount for his share of goodwill which has been valued at Rs. 15,000. Give necessary journal entry for recording goodwill, when there is no goodwill appearing in the books of the firm.

In case there is no partnership deed between the partners, then at what rate interest on capital will be provided?

Which of the following is not accounted for in the books and shown as an asset?

At the time of the dissolution of a partnership firm in which X, Y and Z were partners sharing profit in 2:2:1 ratio, the following information was made available. Arrange them in the sequence in which they will be paid.

(A) A's Loan to the firm Rs 50,000

(B) Creditors Rs 2,00,000

(C) A's Capital Rs 2,50,000 , B's Capital Rs 2,00,000 and C's Capital Rs 1,00,000

(D) Balance available after settlement of all the stakeholders.

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A, B and C constituted a partnership to carry out a venture to build offices for Zakash Office Sites Ltd. On the completion of venture under which way the dissolution of a firm will takes place?

Arrange the following in a sequence related to the issue and redemption of shares

(A) Forfeiture of shares

(B) Reissue of shares

(C) Calls in arrears

(D) Transfer of share forfeited account balance to capital reserve A/c

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X and Y are partners in a firm sharing profits in the ratio of 3:2. They admitted Z as a new partner for 1/4 share. The new profit sharing ratio between X and Y will be 2:1. Calculate their sacrificing ratio.

Radha and Rani are partners in a firm. Their capital accounts as on April 01, 2024 showed a balance of Rs. 2,00,000 and Rs. 3,00,000 respectively. On July 01, 2024, Radha introduced additional capital of Rs. 50,000. On October 01, Radha withdrew Rs. 30,000, from her capital. Interest is allowed @ 8% p.a. Calculate the interest payable to Radha on her capital during the financial year 2024–2025.

Minimum subscription of capital cannot be less than .................. amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.

"Members may come and go, but the company continues. Even an atom bomb can't end a company".

Which feature of a company is highlighted in the above statement?

At the time of retirement of a partner, accumulated Profits or Losses are available. To whom these accumulated profits or losses belong to ?

At the time of dissolution of a partnership firm, the stock appeared in the books was Rs 35,000. One of the partner took over 50% of the stock at 10% less than its book value, and the remaining stock was sold at a gain of 15%. Find the total amount realized from the stock in cash.

Match List-I with List-II

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Match List-I with List-II

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Match List-I with List-II

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According to the Partnership Act 1932, a new partner can be admitted into the firm only with the consent of .............., unless otherwise agreed upon.

If nothing is specified as to how does the new partner acquire his share from the old partners; it may be assumed that he gets it from them:

Raj Ltd. purchased a machine from Anuj Tech Ltd. for Rs.1,90,000. As per purchase agreement, Rs. 10,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued to Anuj Tech Ltd., if the shares issued at 20% premium.

If the capital of partners is fixed, then the salary provided to the partner is posted in which of the following account?

A, B and C were partners in a firm sharing profits and losses in the ratio of 5:4:1. B died on June 30, 2025. The profit for the previous three years were Rs 68,000 (For 2022-23), Rs 77,000 (For 2023-24), Rs 50,000 (2024-25) while the sales during the year 2024-25 were Rs. 4,00,000 and the sales from April 1, 2025 to June 30, 2025 were Rs. 75,000. Find the profits that the firm must have earned from the date of closing of last year's balance sheet till the date of death of B.

In addition to the purchase of own shares by a company and to issue fully paid bonus shares, for which of the following purposes security premium account balance could be used?

(A) To write-off preliminary expenses of the company.

(B) To pay premium on the redemption of preference shares or debentures of the company.

(C) To write-off the expenses of, or commission paid, or discount allowed on any securities of the company

(D) To pay the issue price of debentures.

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Arrange the following items related to the Statement of Profit and Loss in a sequence:

(A) Profit before extraordinary items and tax

(B) Profit before tax

(C) Cost of materials consumed

(D) Revenue from operations

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Match List-I with List-II

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Which financial analysis is also known as 'horizontal analysis'?

From the following details, calculate interest coverage ratio: Net Profit after tax Rs. 1,20,000; 15% Long-term debt 20,00,000; and Tax rate 40%.

The current ratio of a firm is 2 : 1. If the firm purchased goods on credit, then how will it affect its current ratio?

Which of the following is not the advantage of Computerised Accounting System (CAS)?

Which of the following arguments in a financial function represents the total number of payments?

Match List-I with List-II

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A graph has at least how many axes

Arrange the following steps related to freezing the formula using paste special command in logical sequence

(A) Click on Home Tab and select Copy symbol

(B) In the Paste Special box, under paste select the radio button next to Values and click OK

(C) Select the cell (s) that contains the formula

(D) Click on Paste tab and select Paste Special

Choose the correct sequence from the options given below: