List of top Accountancy Questions on Partnership Accounts asked in CUET (UG)

If unrecorded assets are taken over by a partner, the entry will be:
What is the amount of profit to be credited to A's Capital account?
P and Q are partners sharing profits in a 5:3 ratio. They allow interest on capital at 6% p.a. If P’s capital is ₹1,20,000, what is the interest credited to his capital account?
R and S are partners in a 4:1 ratio. T is admitted and gets 1/5 share, equally from both. Find the new ratio.
Various accounting aspects involved on death of a partner are as follows: (A) Adjustment in respect of unrecorded assets and liabilities
(B) Treatment of goodwill
(C) Preparation of Realization A/c
(D) Preparation of Executor's loan A/c
Choose the correct answer from the options given below:
Arrange the following in a sequence in which they will be utilized for the payment of losses: (A) Out of capital of partners.
(B) Out of profits.
(C) By the partners individually in their profit sharing ratio.
Which of the following statement is not true for fixed capital account?
Match the following:
Profit and Loss Appropriation Account, not the main P&L account.
What is the amount of profit to be credited to V's Capital account?
When unrecorded liabilities are paid off by partners, these liabilities are shown in:
What is the amount of T's deficiency in profits?
On the death of a partner, his capital account is credited with:
Passage: A Solid Partnership A, V and T were partners of a law firm sharing profits in the ratio of 5:3:2. Their partnership deed provided the following:
(i) Interest on partners' capital @ 5% p.a.
(ii) A guaranteed that he would earn a minimum annual fee of Rs. 6,00,000 for the firm.
(iii) T was guaranteed a profit of Rs. 2,50,000 (excluding interest on capital) and any deficiency on account of this was to be borne by A and V in the ratio of 2:3.
During the year ending March 31, 2019, A earned a fee of Rs. 3,20,000 and net profits earned by the firm were Rs. 8,60,000.
Partner's capital on April 01, 2018 were: A = Rs. 3,00,000; V = Rs. 3,00,000 and T = Rs. 2,00,000. % Question What is the amount of A's deficiency of annual fee?
Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Deepa retires. After making all adjustments relating to revaluation, goodwill, payment to Deepa and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. You are required to calculate the new capitals of the partners i.e. Asha and Lata.
If a partner is given salary and commission, how are these shown in the accounts?
In which ratio the deficiency of T will be borne by A & V?
Match List-I with List-II
List-I List-II
(A) Salary to partner(I) Credit side of Partners Capital Account
(B) Interest on partners loan(II) Debit side of Partners Current Account
(C) Interest on partners drawings(III) Debit side of Profit and Loss Account
(D) Additional capital introduced(IV) Credit side of Partners Current Account

Choose the correct answer from the options given below:
The Deceased Partners Capital Account includes the following amount/balances:
(A) Opening balance of his capital
(B) His share of profit/loss till the date of death
(C) His share of General Reserve
.(D) His drawings till the date of death
(E) Amount paid to his executors
Identify the correct sequence to be followed while preparing the final account of a partnership firm:
(A) Profit and Loss Appropriation Account
(B) Profit and Loss Account
(C) Trading Account
(D) Balance Sheet
A, B, and C are partners sharing profits in the ratio of 3:2:1. C died on 1st July, 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of ₹1,75,000 to the firm. To give effect to the above
Match List-I with List-II.
List-I (Equal amount of drawings made)List-II (Number of month for which interest calculated)
(A) At the end of each half year(I) 4.5 months
(B) At the beginning of each quarter(II) 6.5 months
(C) At the beginning of each month(III) 7.5 months
(D) At the end of each quarter(IV) 3 months

Choose the correct answer from the options given below :
A partnership can have maximum 50 partners. This limit has been set by the
Lisa, Monica and Nisha are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their capital A/c stood at Rs 50,000, Rs 30,000 and Rs 25,000 respectively. Monica died and balance in the reserve on that date was Rs15,000. If goodwill of the firm is Rs30,000 and profit on revaluation is Rs 7,050. What amount will be transferred to Monica's Executors Account ?
Shweta, Sneha and Shariya were partners sharing profits in the ratio of 3 : 2 : 1. Shariya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to Rs 4,50,000. Shariya took 25% of the furniture, accepted bill of exchange for Rs 52,000. Finally Rs 2,75,000 was transferred to her loan account. The total value of furniture was :
Partnership deed should be drafted and prepared as per: