CUET Accountancy 2025 31 May Shift 1 PYQs

A, B and C are partners in a firm sharing profits in the ratio of $3:2:1$. D is admitted into the firm for $\frac{1}{4}\text{th}$ share in profits, which he gets $\frac{1}{8}\text{th}$ from B. The total capital of the firm is agreed upon as $\text{Rs. }1,20,000$ and D is to bring in cash equivalent to $\frac{1}{4}\text{th}$ of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and C after all adjustments, are $\text{Rs. }40,000$, $\text{Rs. }35,000$ and $\text{Rs. }30,000$ respectively. Calculate the new capital of A

Which combination of statements is true about dissolution-(A). Dissolution of a partnership is different from dissolution of a firm.(B). A partnership is dissolved when there is a death of a partner.(C). A firm is dissolved when all partners give consent to it.(D). A firm is compulsorily dissolved when a partner decides to retire.Choose the correct answer from the options given below:

A and B are partners in a firm sharing profits in the ratio $2:1$. C is admitted into the firm with $\frac{1}{4}\text{th}$ share in profits and he brings $\text{Rs. }30,000$ as his capital. If the capitals of A and B are to be adjusted in their profit sharing ratio then the capital of A will be-

Sunena, a shareholder holding $500$ shares of $\text{Rs. }10$ each, did not pay the allotment money of $\text{Rs. }4$ per share (including a premium of $\text{Rs. }2$) and the first and final call of $\text{Rs. }3$. Her shares were forfeited after the first and final call. Choose the correct journal entry for forfeiture of the shares.

Saloni and Srishti are partners in a firm. Their capital accounts as on April 01, 2019 showed a balance of $\text{Rs. }2,00,000$ and $\text{Rs. }3,00,000$ respectively. On July 01, 2019 Saloni introduced additional capital of $\text{Rs. }50,000$ and Srishti, $\text{Rs. }60,000$. On October 01, 2019 Saloni withdrew $\text{Rs. }30,000$, and on January 01, 2020 Srishti withdrew $\text{Rs. }15,000$ from their capitals. Interest is allowed @ $8\%$ p.a. Calculate interest payable on capital to Saloni during the financial year 2019–2020.