Accounting Treatment of Goodwill | Change in Profit Sharing Ratio | Partnership Accounts Class 12

 Kabir, Divya and Mansha were partners in a firm sharing profits

and losses in the ratio of 5:4:1. With effect from 1st April 2025, they

decided to share the future profits and losses in the ratio of 4:1:5.

For this purpose, the goodwill of the firm was valued at ₹ 3,00,000.

The necessary journal entry for the treatment of goodwill because of

change in profit sharing ratio will be :

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 Goodwill Using Capitalisation method | Super profits |Partnership Accounts Class 12 | CBSE 2026 PYQs

A business earned average profits of ₹ 60,000 during the last three

years. The normal rate of return on similar business is 12%. The

value of net assets of the business is ₹ 4,00,000.

Calculate the value of goodwill by :

i. Capitalisation of average profits method.

ii. Capitalisation of super profits method.

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Goodwill Using Super Profits Method | Accountancy Class 12 Partnership |CBSE 2026 Question | PYQs

 Goodwill Using Super Profits Method | Accountancy Class 12 Partnership |CBSE 2026 Question | PYQs

Average profits of a firm during the last few years were ₹ 1,60,000.

The normal rate of return in a similar business is 10%. If the

goodwill of the firm is ₹ 4,00,000 at four years purchase of super

profit, find the capital employed by the firm. 

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 Retirement of Partner New Profit Sharing Ratio Gain Ratio | Partnership Accounts | Class 12 | PYQs

Vani, Vanya and Ajay were partners in a firm sharing profits and losses

in the ratio of 5:3:2. Vani retired and her share was taken over by Vanya

and Ajay in the ratio of 2:3. The new profit sharing ratio between Vanya

and Aiay after Vani's retirement was : click here for solution

Guarantee Of Profits | Partnership Accounts | Class 12 | CBSE Board Exam Previous Years Questions 

Navya, Kartik and Samir were partners in a firm sharing profits and losses in the ratio of 4:3:1. Samir was given a guarantee that his share of profit in any year will not be less than ₹ 57,000. Any deficiency on this account was to be borne by Navya and Kartik equally. The firm earned a profit of ₹ 4,00,000 during the year ended 31st March, 2025. The amount of deficiency borne by Kartik was 

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 Interest on Loan CBSE Question 2026 Accounting for Partnership PYQs

Partnership Accounts: Interest on Loan & No Partnership Deed Rules

Shiv, Riya and Rohit were partners in a firm. On 1st October, 2024 Rohit

had given a loan of ₹ 2,00,000 to the firm, at an interest rate of 10% p.a.

as per the partnership agreement. The accountant of the firm is

emphasizing that interest on loan will be paid at 6% p.a. The amount of

interest on loan paid to Rohit for the year ended 31st March, 2025 will be :

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Interest on Drawings Question CBSE 2026

 Nandita and Prabha were partners in a firm manufacturing furniture.

They were sharing profits and losses in the ratio of 8:7. During the year

ended 31t March 2025, Nandita withdrew ₹ 80,000 in cash and ₹ 20,000

as furniture for her personal use. The partnership deed provided for

charging interest on partner's drawings @ 6% p.a. The amount of interest

on Nandita's drawings for the year ended 31st March 2025 was : click here for solution