Question

2,80,000
1,60,000
10.000
Sayan
H. S. Commerce Test Papers
656
Sayan and Saswata are partners in a firm sharing profits and losses as 5:2
Thein balance sheet as on 31.3.2020 was as follows:
Liabilities
Rs.
Assets
Building
Capital Account:
2,00,000
Motor car
Saswata
2,00,000
Stock
4,00,000 Debtors
20,000
Workmen compensation fund 20,000 Bank
8,000
Genral Reserve
50,000 Profit and Loss Account 12.000
Outstanding sales tax
30,000 Preliminary expenses 10,000
5,00,000
5,00,000
On that date Somrup admitted under following conditions:
(1) Outstanding sales tax settled at 20% discount,
(ii) Preliminary expenses will be written off.
(iii) Liability for workmen compensation fund is Rs. 12,000.
(iv) Goodwill of the firm is Rs. 50,000 and Somrup will bring necessary
premium as cash
(6) Somrup is admitted for 2/10 share and will bring 50% of combined capilm
of existing partners after all the above adjustments.
Show the Journal entries.
Or, Explain : Memorandum Revaluation Account.
Partnershin Deed
3+3​

Answer 1

Answer:

hii emi chestunavu nuvvu andaru ok na

Answer 2

Answer:

450000

Explanation:

your answer is this