Question

18. R, S and T were partners in a firm sharing profits in the ratio of 1: 2:3. Their Balance Sheet as on 31.3.2015 was as follows: Balance Sheet of R. S and T (As on 31.3.2015) Liabilities Amount Assets Amount ₹ ₹ Creditors 50.000 Land 50.000 Bills Payable 20,000 Building 50,000 General Reserve 30.000 Plant 1.00.000 Capitals a/cs: Stock 40.000 R 1.00.000 Debtors 30.000 S 50.000 Bank 5.000 T 25.000 1,75.000 2.75.000 2.75.000 R. S and T decided to share the profits equally with effect from 1.4.2015. For this, it was agreed that :
(I) goodwill of the firm be valued rs 150000
(II) land we valued 80000
(III) building be depreciate by 6%
(III) creditors of 6000 wer net likely to be claimed & hence be return of
prepared revolution account ,partners capitol account and the balance sheet ​

Answer 1

Answer:

Working Notes

Old Ratio 1 : 2 : 3

New Ratio 1 : 1 : 1

S/R of R =oldRatio−NewRatio=

$= 1 \6 - 1 \3 \\ \\ = - 1 \6 = ganing$

S/R of R =oldRatio−NewRatio=

$= 3 \6 - 1 \6 \\ = 1 \6 = sacrificing$

R will compensate T, since he is gaining

R's Capital A/c Dr. 25,000

To T's Capital A/c 25,000

Explanation:

uper hai account

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