Ram and Shyam were partners in a firm sharing profits and losses in the ratio of 5 : 3. Mohan was admitted as a new partner for 1/5 th share in the profits of the firm. Mohan brought ₹ 2,50,000 as his share of capital and ₹ 2,00,000 as his share of goodwill premium. The value of the firm’s goodwill was :

Aakash and Baadal entered into partnership on 1st October, 2023 with the capitals of Rs 80,00,000 and Rs 60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10\% per annum as per the provisions of the partnership deed. Baadal is given a guarantee that his share of profit, after charging interest on capital will not be less than Rs 7,00,000 per annum. Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March, 2024 amounted to Rs 13,00,000. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2024.

CBSE CLASS XII - 2025
Accountancy
Partnership Accounts

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Eliza, Fenn and Garry were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. Fenn was guaranteed Rs 25,000 as his share in the profits. Any deficiency arising on that account was to be met by Eliza. The firm earned a profit of Rs 80,000 for the year ended 31st March, 2024. The amount of profit credited to Fenn's capital account will be :

CBSE CLASS XII - 2025
Accountancy
Partnership Accounts

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Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:

(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.

CBSE CLASS XII - 2025
Accountancy
Partnership Accounts

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Bittu and Chintu were partners in a firm sharing profits and losses in the ratio of 4 : 3. Their Balance Sheet as at 31^st March, 2024 was as follows:

Balance Sheet of Bittu and Chintu as at 31^st March, 2024

Liabilities	Amount (₹)	Assets	Amount (₹)
Capitals:		Fixed Assets	15,40,000
Bittu	8,00,000	Stock	3,50,000
Chintu	6,00,000	Debtors	1,40,000
General Reserve	2,10,000	Bank	70,000
Creditors	4,90,000
Total	21,00,000	Total	21,00,000

On 1^st April, 2024, Diya was admitted in the firm for ¹⁄₇ share in the profits on the following terms:

New profit sharing ratio between Bittu, Chintu, and Diya will be 3 : 3 : 1.
Fixed Assets were found to be overvalued by ₹ 1,40,000.
Creditors were paid ₹ 4,20,000 in full settlement.
Diya brought proportionate capital and ₹ 5,60,000 as her share of goodwill premium by cheque.

Prepare Revaluation Account and Partners’ Capital Accounts.