Skip to content

Lalita, Shivani and… (Class 12 Accountancy 2026, Q16)

questionbuddy.in/q/cbse-12-accountancy-2026-67-1-1-q16-lalita-shivani-madhuri-partners-firm

AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 16

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 16, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q16 · 1 mark · MCQReconstitution of a Partnership Firm – Retirement/Death of a Partner

Lalita, Shivani and Madhuri were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Madhuri retired from the firm on 31st March, 2025. The balance in her capital account on the date of her retirement was ₹ 1,80,000. Lalita and Shivani agreed to pay her ₹ 2,25,000 in full settlement of her claim.

The goodwill of the firm on Madhuri's retirement was :

  1. (A)₹ 1,80,000
  2. (B)₹ 2,25,000
  3. (C)₹ 45,000
  4. (D)₹ 2,70,000

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

Why is she paid more than her capital?

Hint 2

Her share is 1 out of 3 + 2 + 1.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Payment above her capital balance is her share of goodwill: 2,25,000 − 1,80,000 = ₹ 45,000.

  2. Madhuri's share is 1/6, so firm's goodwill = 45,000 × 6 = ₹ 2,70,000. Option (D).

    1 mark

Answer: (D) ₹ 2,70,000

Where the marks are

  • Goodwill share grossed up for 1/6 share (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Reconstitution of a Partnership Firm – Retirement/Death of a Partner, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.