CUET Accountancy 2022 20 Aug Shift 2 PYQs - Free Mock Test (No Login)

On 1/4/22, X and Y decided to dissolve their firm. On that date of dissolution, Goodwill appeared at Rs. $5,00,000$ in the Balance Sheet. Goodwill will be:

From the following information, calculate interest on Capital of C, a partner for the year ended 31st March, 2022.C's Capital on 31/3/2022: Rs. $12,00,000$ Profit credited to C for the year ended 31/3/2022: Rs. $3,00,000$ Drawings made during the year: Rs. $1,00,000$ Additional Capital introduced on 1/10/21: Rs. $5,00,000$ Rate of Interest = $12\%$ p.a.

If the total income earned by Saket Club, a Not-for-Profit organisation is Rs. $2,60,000$ and surplus earned is Rs. $85,000$, then total expenditure incurred will be:

If X's share of profit was to be calculated on the basis of Average Profit of the last three years, which were Rs. $1,36,000$ for 2018-19, Rs. $1,54,000$ for 2019-20 and Rs. $1,00,000$ for 2020-21. X's share of profit for the period from April 01, 2020 to June 30, 2020 shall be calculated on the basis of Average Profit. The profit sharing ratio is $4:5:1$ between X, Y and Z.His share of profit will be:

Correct sequence of issue of shares is -A. Receipt of ApplicationB. Issue of ProspectusC. Letter of Allotment of SharesD. Letter of RegretChoose the correct answer from the options given below: