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CUET Accountancy 2026 PYQs21 May Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 21 May Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2026 21 May Shift 2

Hard

common

Amita and Kabuliwala are partners, sharing profits in the ratio of 2:2 with capitals of Rs.1,50,000 and Rs.30,000 respectively. Interest on capital is agreed @ 6% p.a. A commission of Rs. 5000 is to be allowed to manager. During the financial year 2024-25, on Oct. 01, 2024, Amita gave a loan of Rs. 1,00,000 to the firm without any agreement. During the year 2024-2025, a profit of Rs. 2,22,250 was earned. Calculate the profit that would be transferred to Profit & Loss Appropriation A/C.

Solution

✅ Correct Option: 1

Manager's commission and interest on a partner's loan are charges against profit, deducted in the Profit and Loss A/c. Interest on Amita's loan =1,00,000×6%×6/12=3,000= 1,00,000 \times 6\% \times 6/12 = 3,000. Profit transferred =2,22,250−5,000−3,000=2,14,250= 2,22,250 - 5,000 - 3,000 = 2,14,250. Interest on capital is an appropriation and is not deducted here.

Related questions:

2025: 4 June Shift 2

Match List-I with List-II

List-IList-II
Interest on DrawingsTime (Month)
(A). When the amount is withdrawn at the beginning of each month.(I). 6 months
(B). When the amount is withdrawn at the end of each month.(II). 6.5 months.
(C). When the amount is withdrawn at the middle of each month.(III). 5.5 months.
(D). When the amount is withdrawn at the end of each quarter.(IV). 4.5 months.

Choose the correct answer from the options given below:

2025: 14 May Shift 1

In case partner's capital is fixed, then where interest on drawings charged will be shown?

2025: 2 June Shift 2

Match List-I with List-II

List-IList-II
(Different accounts. )(Related transaction.)
(A) profit and loss account.(I) dissolution of partnership.
(B) profit and loss appropriation account.(II) dissolution of firm.
(C) revaluation account(III) interest on loan to partner.
(D) realization account.(IV) transfer to reserve.

Choose the correct answer from the options given below:

2025: 30 May Shift 1

Himanshu withdrew Rs 2,500 at the end of each month. The partnership deed provides for charging of interest on drawings @ 12% p.a. Calculate interest on Himanshu's drawings for the year ended March 31, 2017

2022: 16 July Shift 2

Match List I with List II

List IList II
A. Mutual AgencyI. It can be oral or written
B. AgreementII. Written agreement
C. Liability of partnersIII. Partnership concern carried by all or any of them acting for all.
D. Partnership deedIV. Joint and unlimited

Choose the correct answer from the options given below:

2025: 16 May Shift 1

X and Y are partners sharing profits in the ratio 3:2. Capital introduced by X and Y is ₹ 1,00,000 and ₹ 5,00,000 respectively. Interest on capital is allowed to partners @ 10%p.a. Profit of the firm for the year ending March 31st, 2025 is ₹ 30,000. Calculate Interest on Capital to be allowed to the partners.

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