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Accountancy · 2025 · 1 mark
Reconstitution of a Partnership Firm – Retirement/Death of a PartnerNew Profit Sharing Ratio on Retirement or Death of a Partner1 markmcq
CBSE 2025 · Region 7 · Set 2 · Q7
Vimal, Bose and Ghosh were partners in a firm sharing profits and losses equally. On 1st April, $\displaystyle 2024$, Bose retired from the firm and the new profit sharing ratio between Viral and Ghosh was decided as $\displaystyle 4$ : 3. On Bose's retirement, the goodwill of the firm was valued at $\displaystyle 2,10$,000. It was decided to treat goodwill without opening goodwill account. By what amount will the partners' capital accounts be debited or credited for the treatment of goodwill on Bose's retirement ?
Official answer
From CBSE’s own marking scheme for this paper.
(B)
Debit Vimal by ₹ $\displaystyle 50,000$, Debit Ghosh by ₹ $\displaystyle 20,000$ and Credit Bose by $\displaystyle 70,000$
Marking-scheme solution
(B)
Debit Vimal by ₹$\displaystyle 50,000$, Debit Ghosh by ₹$\displaystyle 20,000$ and Credit Bose by ₹$\displaystyle 70$,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.