CUET UG 2022 — Accountancy Partnership
P, Q & R were partners sharing profit in the ratio 4:3:3. W was admitted to the partnership, bringing 1,00,000 capital and Rs. 24,000 as his share of Goodwill. Choose the correct entry for retaining of Goodwill brought in by W. W's share in profit was 41th
Held on 15 Jul 2022 · Verified 13 Jul 2026.
Goodwill A/c Dr 24000
To W's capital A/c 24000
W's capital A/c Dr 24000
To premium for Goodwill A/c 24000
Premium for Goodwill A/c Dr 24000
To P's capital A/c 9600
To Q's Capital A/c 7200
To R's Capital A/c 7200
Premium for Goodwill A/c Dr 24000
To P's Capital A/c 8000
To Q's Capital A/c 8000
To R's Capital A/c 8000
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Match List-I with List-II | List-I | List-II | |---|---| | (A) Sacrificing ratio | (I) Dissolution of Partnership | | (B) Gaining Ratio | (II) Admission of a New Partner | | (C) Executors Account | (III) Retirement of a Partner | | (D) Realisation Account | (IV) Death of a Partner | Choose the correct answer from the options given below:
When drawings are made at the beginning of every month for the full year, interest on drawings is calculated for
Match List-I with List-II | List-I | List-II | |---|---| | Revaluation of assets and reassessment of liabilities at the time of admission of a new partner | Journal Entry | | (A) For increase in the value of an asset | (I) Revaluation A/c Dr. To Asset A/c | | (B) For reduction in the amount of a liability | (II) Revaluation A/c Dr. To Liability A/c | | (C) For reduction in the value of an asset | (III) Asset A/c Dr. To Revaluation A/c | | (D) For appreciation in the amount of a liability | (IV) Liability A/c Dr. To Revaluation A/c | Choose the correct answer from the options given below:
When realization expenses are paid by the firm on behalf of a partner, such expenses are debited to:
Match List-I with List-II | List-I | List-II | |---|---| | (A). Payment of loans due to partners | (i). Realisation A/c Dr To Bank A/c | | (B). For settlement of partners' accounts, in case their capital account shows a debit balance. | (ii). Bank A/c Dr. To loan to partners A/c | | (C). For settlement of loan by a firm to a partner: | (iii) Bank A/c Dr. To Partner's Capital A/c | | (D). For settlement of any unrecorded liability | (iv) Partner's Loan A/c Dr. To Bank A/c | Choose the correct answer from the options given below:
Work through every CUET UG Partnership PYQ, year by year.