CUET Accountancy 2025 30 May Shift 1 PYQs

If there are some accumulated losses in the form of a debit balance of profit and loss account appearing in the balance sheet of the firm. It should be transferred to:

By virtue of which Section of the Companies Act 2013, the Central Government is empowered to prescribe the maximum number of partners in a firm, but the number of partners can not be more than 100?

On the dissolution of a firm, the Creditors are transferred to :

Pinki, Deepti and Kaku are partners sharing profits in the ratio of $5:4:1$. Kaku is given a guarantee that his share of profits in any given year would not be less than $\text{Rs. }5000$. Deficiency, if any, would be borne by Pinki and Deepti equally. Calculate the deficiency assumed by Pinki and Deepti for each case separately if profits for the year were:Case I - $\text{Rs. }40,000$ Case II - $\text{Rs. }60,000$

The Partnership agreement between Maneesh and Girish provides that:(A) Profits will be shared equally(B) Maneesh will be allowed a salary of $\text{Rs. }400\text{ pm}$ (C) Girish who manages the sales department will be allowed a commission of $10\%$ of the net profits after deducting Maneesh's salary(D) $7\%\text{ p.a.}$ interest will be allowed on Partner's fixed capital(E) $5\%\text{ p.a.}$ interest will be charged on partner's annual drawings(F) The fixed capitals of Maneesh and Girish are $\text{Rs. }1,00,000$ and $\text{Rs. }80,000$ respectively. Their annual drawings were $\text{Rs. }16,000$ and $\text{Rs. }14,000$ respectively.The net profit for the year ended March 31, 2018 amounted to $\text{Rs. }40,000$. Calculate the profit allocated to each partner after all adjustments.