Question

26 the following is the balance sheet of a, b and c sharing profits and losses in proportion to 6:5:3 respectively.
liabilities . assets ₹.
creditors 18,900 cash 1,890 bills payable 6,300 debtors 26,460 general reserve 10,500 stock 29,400 capitals furniture 7,350 a 35,400 land & building 45,150 b 29,850 goodwill 5,250 c 14,550 79,800 1,15,500 1,15,500 they agreed to take d into partnership and give him 1/8th share on the following terms: (i)that furniture be depreciated by ₹. 920 (ii)an old customer, whose account was written off as bad, has promised to pay ₹. 2,000 in full settlement of his full debt. (iii)that a provision of ₹. 1,320 be made for outstanding repair bills. (iv)that the value of land & building having appreciated be brought upto ₹. 54,910. (v)that d should bring in ₹. 14,700 as his capital. (vi)that d should bring in ₹. 14,070 as his share of goodwill.​

Answer 1

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Answer 2

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