CUET UG 2025 — Accountancy Partnership
Pinki, Deepti and Kaku are partner's sharing profits in the ratio of 5:4:1. Kaku is given a guarantee that his share of profits in any given year would not be less than Rs 5000. Deficiency, if any, would be borne by Pinki and Deepu equally. Calculate the deficiency assumed by Pinki and Deepti for each case separately if profits for the year were:-
Case I - Rs 40,000
or
Case II - Rs 60,000
Held on 30 May 2025 · Verified 13 Jul 2026.
Case I - Rs 500 each by Pinki and Deepti
Case II - Rs 0 each by Pinki and Deepti
Case I - Rs 0 each by Pinki and Deepti
Case II - Rs 500 each by Pinki and Deepti
Case I - Rs 1000 each by Pinki and Deepti
Case II - Rs 500 each by Pinki and Deepti
Case I - Rs 500 each by Pinki and Deepti
Case II - Rs 100 each by Pinki and Deepti
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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.