CUET Accountancy 2022 15 July Shift 2 PYQs - Free Mock Test (No Login)

Ram and Balram are partners in a firm sharing profit and losses in the ratio of $2:1$.An extract of Balance Sheet as of 31st March 2022:

If the value of the above furniture is overvalued by $33\frac{1}{3}\%$, choose the value of furniture to be shown in the new Balance Sheet out of the following:

Which of the following transactions will increase the Current Ratio but will decrease the Debt Equity Ratio?

The term Financial Analysis includes:

P, Q & R were partners sharing profit in the ratio $4:3:3$. W was admitted to the partnership, bringing $\text{Rs. }1,00,000$ capital and $\text{Rs. }24,000$ as his share of Goodwill. Choose the correct entry for retaining of Goodwill brought in by W. W's share in profit was $\frac{1}{4}\text{th}$.

Calculate manager's commission at $10\%$ on Net profit, if the Divisible profit of a firm is $\text{Rs. }10,000$, salary to partners is $\text{Rs. }3,000$ and Interest on drawings is $\text{Rs. }2,000$.