CUET UG 2025 — Accountancy Partnership
Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry
Held on 15 May 2025 · Verified 13 Jul 2026.
Yaduvanshi capital A/c Dr. 30,000
Madhulika capital A/c Dr. 30,000
Vidushi capital A/c Dr. 15,000
To profit & loss appropriation A/c 75,000
Yaduvanshi current A/c Dr. 30,000
Madhulika current A/c Dr. 30,000
Vidushi current A/c Dr. 15,000
To profit & loss appropriation A/c 75,000
Profit & loss appropriation A/c Dr. 75,000
To Yaduvanshi capital A/c 30,000
To Madhulika capital A/c 30,000
To Vidushi capital A/c 15,000
Profit & loss appropriation A/c Dr. 75,000
To Yaduvanshi current A/c 30,000
To Madhulika current A/c 30,000
To Vidushi current A/c 15,000
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As per AS-26 Intangible assets like goodwill should be written off.
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:
Amount of Assets realized debited to Bank Account will be:
Match List-I with List-II If the partnership deed is silent regarding the items provided in List-I | List-I | List-II | |---|---| | (A) Interest on Capital | (I) to be shared equally | | (B) Interest on Loan | (II) not charged | | (C) Interest on Drawings | (III) not payable | | (D) Sharing of Profits | (IV) @6% p.a. | Choose the correct answer from the options given below:
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:
Work through every CUET UG Partnership PYQ, year by year.