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Accountancy · 2025 · 1 mark
Reconstitution of a Partnership Firm – Admission of a PartnerChange in Profit Sharing Ratio among the Existing Partners1 markmcq
CBSE 2025 · Region 7 · Set 3 · Q11
Jayant, Vijayant and Anant were partners in a firm sharing profits and losses in the ratio of 3: 2: 1. With effect from 1st April, 2024, they decided…
Jayant, Vijayant and Anant were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. With effect from 1st April, $\displaystyle 2024$, they decided to share the profits in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. For this purpose, the goodwill of the firm was valued at % $\displaystyle 6,00$,000. The partners decided to treat goodwill without opening goodwill account. By what amount will the partners' accounts be debited or credited ?
Akshay, Reet and Manya were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 3$ : 2. With effect from 1st April, $\displaystyle 2024$, they decided that in future, they will share the profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 4$ : 3. Identify the gain or sacrifice by the partners due to change in the profit sharing ratio from the following :
Official answer
(a) → (D)
(b) → (C)
Marking-scheme solution
(D)
Debit Anant by ₹$\displaystyle 20,000$ and Credit Vijayant by ₹$\displaystyle 20,000$
OR
Q. (b) Akshay, Reet and Manya were partners………
Ans. (C) Akshay’s sacrifice $\displaystyle 2$/$\displaystyle 9$, Reet’s gain $\displaystyle 1$/$\displaystyle 9$, Manya’s gain $\displaystyle 1$/$\displaystyle 9$
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CBSE Class 12 Accountancy past-paper question from the 2025 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.