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Annu, Bandhu, Sheelu and… (Class 12 Accountancy 2026, Q22b)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 4 marks · Long answer

CBSE Class 12 Accountancy 2026: question 22(b)

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 22(b), for 4 marks. Try it first; the hints and our step-by-step solution are below.

Q22(b) · 4 marks · Long answerReconstitution of a Partnership Firm – Admission of a Partner

Annu, Bandhu, Sheelu and Golu were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 2 : 1. On 1st April, 2025, they decided to share the future profits equally. For this purpose the goodwill of the firm was valued at ₹ 4,00,000. Calculate gain or sacrifice of the partners on change in profit sharing ratio and pass a single adjustment journal entry for the treatment of goodwill.

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

New share for each of four equal partners is 1/4.

Hint 2

Gainers compensate sacrificers: share × ₹ 4,00,000.

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. Gain or sacrifice (old − new, new = 1/4 each): Annu 4/10 − 1/4 = 3/20 sacrifice; Bandhu 3/10 − 1/4 = 1/20 sacrifice; Sheelu 2/10 − 1/4 = 1/20 gain; Golu 1/10 − 1/4 = 3/20 gain.

    2 marks

  2. Single adjustment entry (1st April, 2025), goodwill ₹ 4,00,000: Sheelu pays 1/20 = ₹ 20,000 and Golu 3/20 = ₹ 60,000; Annu receives ₹ 60,000 and Bandhu ₹ 20,000.

    ParticularsDr. (₹)Cr. (₹)
    Sheelu's Capital A/c Dr.20,000
    Golu's Capital A/c Dr.60,000
    To Annu's Capital A/c60,000
    To Bandhu's Capital A/c20,000
    (Being goodwill adjusted on change in profit sharing ratio)
    2 marks

Answer: Annu sacrifices 3/20, Bandhu 1/20; Sheelu gains 1/20, Golu 3/20. Sheelu Dr. ₹ 20,000, Golu Dr. ₹ 60,000 to Annu ₹ 60,000 and Bandhu ₹ 20,000

Where the marks are

  • Gain or sacrifice of each partner (½ mark each)
  • Single adjustment entry (2 marks)

Revise the chapter

Practise this chapterBoard-style questions from Reconstitution of a Partnership Firm – Admission of a Partner, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/5/1: 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.