77 A and B share profits in the ratio of 3 : 2.
They agreed to admit C on the condition
that A will sacrifice 3/25th of his share of profit in favour of C and B will sacrifice
1/25th of his profits in favour of C . The new profit sharing ratio will be:
a) 12 : 9 : 4
b) 3 : 2 : 4
c) 66 : 48 : 11
d) 48 : 66 : 11
78 Vinay and Naman are partners sharing profit in the ratio of 4 : 1. Their capitals were
90,000 and 70,000 respectively. They admitted Prateek for 1/3 share in the
profits. Prateek brought
goodwill?
4000
50000
40000
30000
79 Xero and Yasi were partners sharing profits in the ratio 3 : 2. They admitted Zero as
new partner for 1/5th share in the future profits of the firm which he got equally
from Xero and Yasi. What will be the new profit sharing ratio among Xero, Yasi
and Zero?
a) 3:5:1
b) 1:1:1
c) 3:5:2
d) 5:3:2
80 Hari and Leela are partners in a firm sharing profits and losses in the ratio of 2 : 3
Yash was admitted as a new partner for 1/5th share in the profit of the firm. Yash
acquires his share from Leela. The new profit sharing ratio of Hari, Leela and Yash
will be:
a) 2 : 3 : 5
b) 2 : 2 : 1
c) 5 : 3 : 2
d) 3 : 5 : 1
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81 Ashok and Sudha were partners in a firm sharing profits and losses in the ratio of 3
: 1. They admitted Bani as a new partner. Ashok sacrificed 1/4th of his share and
Sudha sacrificed 1/4th
the firm will be :
a) 5 / 8
b) 1 / 8
c) 1 / 4
d) 7 / 16
82 Swati and Aman were partners in a firm. Their fixed capitals were
capitals. Divya was admitted as a new partner for 1/4th share in the profits of the
asher capital
b) 30,000
45,000
d) 15,000
83 If at the time of admission there is some unrecorded liability, it will be:
a) Debited to revaluation account
b) Credited to revaluation account
c) Debited to goodwill account
d) accounts
84 When a new partner does not bring his share of goodwill in cash, the amount isdebited
to:
a) Cash A/c
b) Premium A/c
c) Current A/c of the new partner
d) Capital A/c of the old partner
85 If the incoming partner brings the amount of goodwill in cash and also a balance
exists in goodwill account, then this goodwill account is written off among the old
partners in :
a) The new profit sharing ratio
b) The old profit sharing ratio
s c) The sacrificing ratio
d) The gaining ratio
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KEY/ANSWER SHEET
Multiple Choice question
01 A
02 B
03 C
04 A
05 A
06 C
07 D
08 C
09 C
10 D
11 D
12 C
13 A
14 D
15 A
16 A
17 B
18 B
19 A
20 A
21. (C) Goodwill brought in by the incoming partner can be credited to the
sacrificing partner (s)
22. (D) All, old
23. (C) 3,00,000
24. (B) (iii),(i),(ii)
25. (B) 5:11:4
26. (C) False
27. (A) True
28. (C) 14,00,000
29. Capital A/c Dr 20,000
15,000
5,000
30. (B)i- c, ii-d, iii-a, iv-b
31. A
32 C
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33 A
34 C
35 B
36 C
37 C
38 B
39 A
40 B
41 (B)
42 (A)
43 (C)
44 (C)
45 (B)
46 (D)
47 (A)
48 (A)
49 (D)
50 (D)
51 (a). Credited
52 (b). debited
53 (b). credit
54 (a). Debit
55 (b). credit
56 (a). Debit
57 (c) Nominal Account
58
59
60
61
62 (d) Revalued figures
63 (c) Debited to revaluation A/c
64
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