# JAWAHAR NAVODAYA VIDYALAYA, MANDYA UNIT TEST II - 2021-&#39;22 ACCOUNTANCY Class: XII Time: 90 Minutes Maximum Marks: 40 (On the basis of Case study, answer questions $1-5 .$ ) Murari and Vohra were partners with capitals of $1,20,000$ and $1,60,000$ respectively. On 1st April, 2010 they admitted Yadav as a partner for one forth share in profit. Yadav brings his capital &#39; $2,00,000$ and Goodwill for 1/4th share in cash. Goodwill of the firm is valued at &#39; $3,60,000$ on admission of Yadav. On that date the creditors of Murari and Vohra were ३ 60,000 and Bank Overdraft was そ 80,000 and Building そ $2,00,000$. It was agreed that Stock should be depreciated by ই 2,000 ; Plant to $80 \%$; र 5000 should be written off as Bad Debts; A Provision for Bad Deb is to

JAWAHAR NAVODAYA VIDYALAYA, MANDYA UNIT TEST II - 2021-'22 ACCOUNTANCY Class: XII Time: 90 Minutes Maximum Marks: 40 (On the basis of Case study, answer questions $1-5 .$ ) Murari and Vohra were partners with capitals of $1,20,000$ and $1,60,000$ respectively. On 1st April, 2010 they admitted Yadav as a partner for one forth share in profit. Yadav brings his capital ' $2,00,000$ and Goodwill for 1/4th share in cash. Goodwill of the firm is valued at ' $3,60,000$ on admission of Yadav. On that date the creditors of Murari and Vohra were ३ 60,000 and Bank Overdraft was そ 80,000 and Building そ $2,00,000$. It was agreed that Stock should be depreciated by ই 2,000 ; Plant to $80 \%$; र 5000 should be written off as Bad Debts; A Provision for Bad Deb is to be kept at $5 \%$ of Debtors. Building should be appreciated by $25 \%$. What would be the new profit sharing ratio after Yadav's admission? (A) $1: 1: 1$ (B) 3:4:2 (C) $3: 4: 5$ (D) 3:3:2 Yadav would bring as his share of goodwill. (A) $3,60,000$ (B) 90,000 (C) 50,000 (C) 50,000 (D) 80,000 What would be the amount of cash balance in firm before admission of Yadav? (A) इ 25,000 (C) そ $3,55,000$ (D) ३ 75,000 The amount Provision for Bad Debts would be ई (A) 2,000 (B) 1,250 (C) 1,750 (D) 5,000 Which of the following right/rights Yadav would get after admission? (A) Right to admission (B) Right to share future profits (C) Right to share assets (D) Both $B$ and $C$ (On the basis of Case study, answer questions 6-10.) A and B are partners in a firm. Their Balance Sheet as at 31 st Marsh 2021 was: On ist April 2021 , they admitted $C$ as a new partner on the following conditions: (i) C will bring इ 40,000 as capital but unable to bring his share of goodwill in cash. (ii) The New profit sharing ratio between A, B and C will be 3:2:1. (iii)Claim towards workmen compensation is 3,000 . (iv) Bad Debts amounting इ 6,000 are to be written off. (v) Creditors are to be paid इ 2,000 more. (vi) 2,000 are to be provided for an unrecorded liability for damage. (vii) Outstanding expenses be brought down to $\ 1,200$.