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Accountancy · 2025 · 1 mark
Reconstitution of a Partnership Firm – Admission of a PartnerRevaluation of Assets and Reassessment of Liabilities1 markmcq
CBSE 2025 · Region 1 · Set 2 · Q4
Nita, Vidur and Miter were partners in a firm sharing profits and losses in the ratio of 3: 4: 1. On 1st April 2024, they decided to admit Samir as a…
Nita, Vidur and Miter were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 4$ : 1. On 1st April $\displaystyle 2024$, they decided to admit Samir as a new partner. The new profit sharing ratio between Nita, Vidur, Mita and Samir will now be $\displaystyle 1$ : $\displaystyle 1$ : $\displaystyle 1$ : 1. The balance sheet of Nita, Vidur and Mita before Samir's admission showed machinery at ₹ $\displaystyle 6,00$,000. On the date of admission, it was found that the machinery is overvalued by $\displaystyle 20$% . The value of machinery shown in the new Balance Sheet after Samir's admission will be :
Official answer
(D)
₹ $\displaystyle 5,00,000$
Marking-scheme solution
(D)
₹$\displaystyle 5,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2025 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.