CUET Accountancy 2025 26 May Shift 2 PYQs

Blue Prints Ltd. purchased a building worth $\text{Rs. }1,50,000$, machinery worth $\text{Rs. }1,40,000$, and furniture worth $\text{Rs. }10,000$ from XYZ Co., and took over its liabilities of $\text{Rs. }20,000$ for a total purchase consideration of $\text{Rs. }3,15,000$. Blue Prints Ltd. settled the purchase consideration by issuing $12\%$ debentures of $\text{Rs. }100$ each at a premium of $5\%$. The number of debentures issued is:

When debentures are issued at par and are redeemable at a premium, the extra amount payable at redemption is recorded at the time of issue by debiting which account?

When a partnership firm undergoes dissolution, the Balance of the Investment Account and the Balance of the Investment Fluctuation Fund Account shown in the Firm's Balance Sheet are transferred respectively into:

John Ibrahim, a partner in Ancient Tours and Travels, withdrew money during the year ending March 31, 2020, from his capital account for personal use. He withdrew $\text{Rs. }3,000$ per month at the beginning of every month. Calculate the interest on drawings that should be charged from John Ibrahim if the rate of interest on drawings is $9\%$ per annum.

Which of the following is the correct journal entry to transfer a net profit (credit balance of the Profit and Loss Account) to the Profit and Loss Appropriation Account?