CUET Accountancy 2025 31 May Shift 1 PYQs

Match List-I with List-II
$$\begin{array}{ll}\text{List-I}& \text{List-II}\\ \text{(A) Gaining Ratio}& \text{(I) New Share - Old Share.}\\ \text{(B) Sacrificing Ratio}& \text{(II) Old Share - New Share.}\\ \text{(C) Admission of Partner}& \text{(IV) Partner may or may not bring his share of goodwill in cash.}\\ \text{(D) Retirement of Partner}& \text{(III) Partner may be paid amount more than what has actually due to him for hidden goodwill share.}\end{array}$$
Choose the correct answer from the options given below:

The balance of the Share Forfeiture Account will be shown in the Balance Sheet of the Company, under the head of :

On dissolution of the firm, partner's capital accounts are closed through:

A business has earned average profits of $\text{Rs. }1,00,000$ during the last few years and the normal rate of return in a similar business is $10\%$. Ascertain the value of goodwill by capitalisation of average profits method, given that the value of net assets of the business is $\text{Rs. }8,20,000$.

Mohit, Neeraj and Sohan are partners in a firm sharing profits in the ratio of $2:1:1$. Neeraj retires and Mohit and Sohan decided that the capital of the new firm will be fixed at $\text{Rs. }1,20,000$ and D is to bring in cash equivalent to $\frac{1}{4}\text{th}$ of this amount as his capital. The capital accounts of Mohit and Sohan show a credit balance of $\text{Rs. }82,000$ and Rs. 41,000 respectively} after making all the adjustments. Calculate the actual cash to be paid off or to be brought in by the continuing partners in total-