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

On the retirement or death of a partner, the remaining partners who gain due to the change in profit-sharing ratio must compensate:

If the Average Capital Employed in a firm is $\text{Rs. }9,00,000$, the Average Profit is $\text{Rs. }2,80,000$, and the Normal Rate of Return is $20\%$, calculate the value of goodwill using the Capitalisation of Super Profit Method.

Which of the following transactions involve issuing debentures for a consideration other than cash?(A) Issued to a bank as additional/collateral security(B) Issued to a vendor for asset purchase(C) Issued to the general public for subscription(D) Issued to a creditor to settle outstanding dues(E) Issued for cash via public offerChoose the correct answer from the options given below:

AB & Co. purchased assets worth $\text{Rs. }28,80,000$ from a vendor. The company issued debentures of $\text{Rs. }100$ each at a discount of $4\%$ in full satisfaction of the purchase consideration. Calculate the number of debentures issued to the vendor.

During the dissolution of a partnership firm, Rohit (a partner) paid the realization expenses of $\text{Rs. }10,000$. Under their agreement, Rohit was to receive a fixed remuneration of $\text{Rs. }12,000$ for completing the dissolution process, and he was to bear all realization expenses. What net amount will be credited to Rohit's Capital Account for this transaction?