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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 1 · Set 3 · Q15
Kartik, Inder and Lalit 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 to share profits and losses in the ratio of $\displaystyle 2$ : $\displaystyle 3$ : 4. For this purpose, the goodwill of the firm was valued at ₹ $\displaystyle 1,80$,000. The necessary journal entry to show the effect of the above will be : Dr. Cr. Particulars Amount Amount (?) (€)ORNidhi, Pranav and shu were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 4$ : 1. With effect from 1st April, $\displaystyle 2024$, they decided to share profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 1$ : 5. On that date, there was a debit balance of ₹ $\displaystyle 4,00,000$ in the Profit and Loss Account. The necessary journal entry to show the effect of the above will be : Dr. Cr. Particulars Amount Amount ($\displaystyle 1$) (?)
OR
Nidhi, Pranav and shu were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 4$ : 1. With effect from 1st April, $\displaystyle 2024$, they decided to share profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 1$ : 5. On that date, there was a debit balance of ₹ $\displaystyle 4,00,000$ in the Profit and Loss Account. The necessary journal entry to show the effect of the above will be : Dr. Cr. Particulars Amount Amount ($\displaystyle 1$) (?)Official answer
From CBSE’s own marking scheme for this paper.
(a) → (A)
(b) → (C)
Marking-scheme solution
(A)
Particulars Dr. Cr.
Amount Amount
(₹) (₹)
(A) Lalit’s Capital A/c Dr. $\displaystyle 40,000$
To Kartik’s Capital A/c $\displaystyle 40,000$
Q. (b) Nidhi, Pranav and Ishu were partners….
Ans. (C)
Particulars Dr. Cr.
Amount Amount
(₹) (₹)
(C) Nidhi’s Capital A/c Dr. $\displaystyle 2,00,000$
Pranav’s Capital A/c Dr. $\displaystyle 1,60,000$
Ishu’s Capital A/c Dr $\displaystyle 40,000$
To Profit & Loss A/c $\displaystyle 4,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.