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 \( \ 1,200 \).
