CUET Accountancy 2025 13 May Shift 2 PYQs

A and B are partners sharing profits equally with capitals of $\text{Rs. }45,000$ each. They admit C as a new partner for a $\frac{1}{3}\text{rd}$ share in profits. C brings in $\text{Rs. }60,000$ as his capital. Find the value of the firm's total Goodwill based on this transaction.

When debentures are issued at a discount, under which of the following types is the difference between their nominal value and the issue price explicitly treated as the total amount of interest over their tenure?

For distributing profits made during a financial year among partners, which account is debited?

Calculate the Current Ratio from the following financial data:ParticularsAmount (in Rs.)Inventories$60,000$ Trade receivables$60,000$ Advance tax$4,000$ Cash and cash equivalents$50,000$ Trade payables$1,30,000$ Bank Overdraft$4,000$

Which account is credited if the net assets taken over exceed the agreed purchase consideration at the time of purchasing a business?