CA CPT Model Test Paper 13 with solutions for online practice

Question : 19 of 200

Marks: +1, -0

Balance of A, B and C sharing profits and losses in proportionate to their capitals, stood as A- Rs. 2,00,000; B- Rs. 3,00,000 and C- Rs. 2,00,000. A desired to retire form the firm, B and C share the future profits equally, Goodwill of the entire firm be valued at Rs. 1,40,000 and no Goodwill account being raised.

Credit Partner's Capital Account with old profit sharing ratio for Rs. 1,40,000
Credit Partner's Capital Account with new profit sharing ratio for Rs. 1,40,000
Credit A's account with Rs. 40,000 and debit B's Capital Account with Rs. 10,000 and C's Capital Account with Rs. 30,000
Credit Partner's Capital Account with gaining ratio for Rs. 1,40,000.

Validate

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