Class 12th Accountancy - Reconstitution of a Partnership Firm - Admission of a Partner Case Study Questions and Answers 2022 - 2023
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Reconstitution of a Partnership Firm - Admission of a Partner Case Study Questions With Answer Key
12th Standard CBSE
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Reg.No. :
Accountancy
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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 (a)
Case Study
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Answers
Reconstitution of a Partnership Firm - Admission of a Partner Case Study Questions With Answer Key Answer Keys
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1. (d) 44,37,500
2. (c) 39,67,500
3. (a) 35,57,500
4. (b) 31,20,00
Case Study
