CUET Accountancy 2025 22 May Shift 1 PYQs

Ram and Laxman started business on 1st Jan 2020 with a capital of $\text{Rs. }1,20,000$ and $\text{Rs. }80,000$ respectively. Ram introduced $\text{Rs. }50,000$ to the firm on 1st July 2020 as additional capital. If the rate of interest is $15\%\text{ p.a.}$, assuming that accounts are closed as per calendar year, then the Interest payable to Ram on Capital would be:

The ratio in which the old partners agree to give their share of profit in favor of the incoming partner is called:

When realisation expenses are paid by the firm on behalf of a partner, which among the following will be debited:

The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be utilized in which sequence? Arrange the following in proper sequence:(A) In paying the debts of the firm to the third parties
(B) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)
(C) In paying to each partner proportionately what is due to him on account of capital
(D) The residue, if any, shall be divided among the partners in their profit sharing ratioChoose the correct answer from the options given below:

If, at the time of admission of a new partner, profit and loss account appears in the books, it will be transferred to: