Partnership
16 previous year questions.
High-Yield Trend
Chapter Questions 16 MCQs
Star and Moon were partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2024, the Balance Sheet of the firm was as follows: 
They admitted 'Sun' into partnership on 1st April, 2024 for 1/10 share. It was agreed as follows:
(a) 'Sun' brings ₹6,00,000 for his share of capital but could not bring goodwill in cash.
(b) Goodwill is valued at ₹4,00,000.
(c) Provision on debtors is needed 10%.
(d) Interest on Bank Loan for 6 months is due @ 12% p.a.
(e) Liability to workers is ₹15,000 against Workmen Compensation Reserve.
(f) Unrecorded stock ₹40,000 is taken by Star at ₹38,000.
Prepare Revaluation Account and Partners' Capital Account.
A partnership firm earned net profits during the last three years as follows: 
The capital employed in the firm throughout the above mentioned period has been ₹8,00,000. Having regard to the risk involved, 15% is considered to be a fair return on the capital. The remuneration of all the partners during this period is estimated to be ₹2,00,000 per annum.
Calculate the value of Goodwill on the basis of the following:
(a) Two years' purchase of super profits earned on average basis during the above mentioned 3 years.
(b) Capitalisation of Average Profit method.
About Partnership - PSEB-XII
Partnership is a vital chapter for PSEB-XII aspirants. Mastering the concepts covered in this chapter is essential for securing a top rank.
By rigorously practicing the previous year questions associated with this chapter, you can identify high-yield topics, understand the examiner's perspective, and boost your confidence during the actual exam.
Frequently Asked Questions
Why focus on Partnership PYQs?
Analyzing PYQs for this specific chapter reveals the most frequently tested concepts and the typical complexity of questions, allowing you to tailor your study plan efficiently.
How to best use this analysis?
Review the topic breakdown to see which sub-topics within Partnership carry the most weight. Then, tackle the questions iteratively to solidify your understanding.