Updated 12th Standard CBSE Accountancy Study Materials 2022-2023 Exams

Class 12th Accountancy - Reconstitution of a Partnership Firm - Admission of a Partner Case Study Questions and Answers 2022 - 2023 Study Materials Sep-08 , 2022

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Reconstitution of a Partnership Firm - Admission of a Partner Case Study Questions With Answer Key

12th Standard CBSE

Accountancy

Time : 00:10:00 Hrs

Total Marks : 5

Case Study

Read the following hypothetical text and answer the given questions on the basis of the same: Krishika an alumni of IIM Ahemdabad initiated her startup Krishika Ltd. in 2018. The profits of Krishika Ltd. in the year 2019-20 after all appropriations was ₹ 31,25,000. This profit was arrived after taking into consideration the following items:-

S. No	Particular	Amount (in Rs.)
1.	Gain on sale of fixed tangible assets	12,50,000
2.	Goodwill written off	7,80,000
3.	Transfer to General Reserve	8,75,000
4.	Provision for taxation	4,37,500

Additional Information:-

Particulars	31.03.2020 (in Rs.)	31.03.2019 (in Rs.)
Prepaid Expenses	7,50,000	5,00,000
Inventory	10,50,000	8,20,000
Trade Payables	4,50,000	3,50,000
Trade Receivables	6,20,000	5,90,000

1.Net Profit before tax will be Rs.……………………………. (Choose the correct alternative)

(a)22,50,000

(b) 35,62,500

(c) 39,67,50

(d) 44,37,500

2.Operating profit before working capital changes will be ₹…………………… (Choose the correct alternative)

(a) 52,17,500

(b) 64,67,500

(c) 39,67,500

(d) 39,69,500

3.Cash from operating activities before tax will be __________(Choose the correct alternative)

(a) 35,57,500

(b) 40,67,500

(c) 37,87,500

(d) 35,67,300

4.Cash flow from Operating Activities will be₹…………………… (Choose the correct alternative)

(a) 39,95,000

(b) 31,20,000

(c) 40,67,500

(d) 31,00,000

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Answers

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