Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that…
CUET UG 2025 — Accountancy Partnership
Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?
Held on 3 Jun 2025 · Verified 13 Jul 2026.
Options
- A
Rs 16,000 will be credited to Rajinder's capital A/c.
- B
Rs 2,000 will be debited to Surender's capital A/c.
- C
Rs 8,000 will be credited to Rajinder's capital A/c
- D
Rs 4,000 will be credited to Surender's capital A/c
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.