CBSE 2026 · Region 1 · Set 3 · Q15

Chandan, Ravi and Mahesh were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 4$ : 1. From 1st April, $\displaystyle 2025$ they decided to share the future profits in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. On that date there existed a general reserve of ₹ $\displaystyle 7,00,000$ in the books of the firm which they decided to distribute among themselves. In which ratio will the general reserve be distributed among the partners ?

OR

Suman and Tanya were partners in a firm sharing profits and losses in the ratio of $\displaystyle 2$ : 1. With effect from 1st April, $\displaystyle 2025$, they decided to share the profits equally. On that date furniture was appearing in the books of the firm at ₹ $\displaystyle 4,50$,000. At the time of change in the profit sharing ratio, it was found to be undervalued by $\displaystyle 10$%. In the new balance sheet, furniture will be shown at :