CBSE 2026 · Region 2 · Set 3 · Q1

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 31st March $\displaystyle 2025$, it was discovered that interest on partners' capitals was provided @ $\displaystyle 6$% p.a. instead of $\displaystyle 7$% p.a. The adjustment entry to rectify the above error will be : Journal Particulars Dr. Amount Cr. Amount c) (i)

OR

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