CUET Accountancy 2025 27 May Shift 2 PYQs

An issue of Rs. $1,00,000$, $9\%$ debentures of Rs. $100$ each is made at a discount of $15\%$ but redeemable at a premium of $5\%$. The amount debited to the "Loss on Issue of Debentures Account" is:

Identify the steps involved in calculating goodwill under the capitalization of super profits method:(A) Calculate capital of the firm, which is equal to total assets (excluding goodwill and fictitious assets) minus outside liabilities(B) Multiply the super profits by the required rate of return multiplier(C) Calculate normal profits on capital employed(D) Calculate super profits by deducting normal profits from average profits(E) Calculate average profit for past yearsChoose the correct answer from the options given below:

Identify the true statement in respect of a partnership firm:

Match List-I with List-IIList-IList-II(A) Bank (fresh capital introduced)(I) Debit side of Partner's Current Account(B) Interest on drawings(II) Debit side of Partner's Capital Account(C) Bank (permanent withdrawal of capital)(III) Credit side of Partner's Current Account(D) Commission(IV) Credit side of Partner's Capital AccountChoose the correct answer from the options given below:

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