Lalit, Pankaj and Rahul are partners sharing profits in the ratio of 4 : 3 : 3. After all adjustments, on Lalit's retirement with respect to general…
CUET UG 2025 — Accountancy Partnership
Lalit, Pankaj and Rahul are partners sharing profits in the ratio of 4 : 3 : 3. After all adjustments, on Lalit's retirement with respect to general reserve, goodwill and revaluation etc., the balances in their capital accounts stood at Rs. 70,000, Rs. 60,000 and Rs. 50,000 respectively. It was decided that the amount payable to Lalit will be brought by Pankaj and Rahul in such a way as to make their capitals proportionate to their profit sharing ratio. After Lalit's retirement, the new profit sharing ratio between Pankaj and Rahul is 1:1. New Capital of the firm will be-
Held on 27 May 2025 · Verified 13 Jul 2026.
Options
- A
Rs. 1,80,000
- B
Rs. 1,10,000
- C
Rs. 90,000
- D
Rs. 1,70,000
Did you get this right?
Sign in to track your attempts and accuracy.
Your note
Sign in to keep a private note on this question. Nothing you write is ever public.
CUET UG Partnership in other years
More CUET UG Partnership questions
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:
Other Accountancy topics for CUET UG
Keep practicing Partnership
Work through every CUET UG Partnership PYQ, year by year.