CBSE 2026 · Region 2 · Set 2 · Q12

Dilshad, Ajit and Deepna were partners in a firm sharing profits and losses in the ratio of $\displaystyle 2$:$\displaystyle 2$:1. Their fixed capitals were : ₹ $\displaystyle 5,00,000$, ₹ $\displaystyle 4,00,000$ and ₹ $\displaystyle 1,00,000$ respectively. After closing the accounts for the year ended $\displaystyle 31 * March $2025$\displaystyle , it was discovered that interest on partners' capitals was provided @ $6$\displaystyle % p.a. instead of $7$\displaystyle % p.a. The adjustment entry to rectify the above error will be : Journal Particulars Dr. Amount Cr. Amount R) co)

OR

Kabir, Divya and Mansha were partners in a firm sharing profits and losses in the ratio of $5$\displaystyle :$4$\displaystyle :1. With effect from 1st April $2025$\displaystyle , they decided to share the future profits and losses in the ratio of $4$\displaystyle :$1$\displaystyle :5. For this purpose, the goodwill of the firm was valued at ₹ $3,00$,000. The necessary journal entry for the treatment of goodwill because of change in profit sharing ratio will be : Journal Dr. Cr. Particulars Amount (Q Amount (?)