Question

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00)
ital
00
00
36,000 Sundry Debtors er
20. Basu and Das are partners sharing Profits and losses equally. On 30th June
(B.Com., Osm.,) (Ans : Balance Sheet Total : 2,93,638)
2005 their Balance Sheet was as under:
Balance Sheet
₹
₹
Sundry Creditors 39,800 Freehold Premises
26,000
३
Capitals:
00
Machinery
42,000
Basu
45,000 Stock CY
12,000
Das
38,000
Bank Balance
2,800
00
1,20,800
1,20,800
00
It is agreed that Basu will retire as from 30th June 2005 and that Das will
take over the business on the following terms.
.
of
(b) Stock to be agreed as worth *. 10,000.
0,
(c) A Reserve for doubtful debts to be created at 2 percent.
or
(d) Basu to be paid out as to 1. 20,000 of the amount found to be due to him by
a loan taken at 9 percent, and as to the balance by a bill of exchange payable
after 2 months.
Show journal entries to record the above transactions and also the Balance
Sheet of Das after the adjustments have been made.
1,18,040)
R
e
fplu.Com, Osm.) (Ans. Loss on Revaluation 72,760; Balance Sheet Total​

Answer 1

Answer:

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