CUET Accountancy 2023 28 May Shift 1 PYQs - Free Mock Test (No Login)

A, B, and C share profits and losses in the ratio of $3:2:1$. They decide to share profits and losses equally in the future. On that date, a General Reserve of $\text{Rs. }60,000$ appears in their books, and Goodwill is valued at $\text{Rs. }1,20,000$. If the partners prefer not to disturb the General Reserve figure in the books, what adjustment entry must be passed?

Upon the dissolution of a partnership firm, the existing Goodwill Account appearing in the ledger books is transferred directly to:

Calculate the total cost of medicines consumed during the financial year 2020-21 based on the following information:

Identify the odd item out when calculating Cash Flow from Financing Activities:

A company acquires machinery worth $\text{Rs. }5,00,000$. It pays $50\%$ of the amount immediately by cheque and executes a bond for the remaining balance. Determine the net cash impact and the nature of the activity for the Cash Flow Statement: