Question

32. Manoj
, Naveen and Deepak were partnerschalme prettein 2:1 onio daruary, 2018
Naveen retired. On that date balance sheet was as follows:
R4
General Reserve
Expenses Owing
Bills Payable
Creditors
Capitals
Mancy
10,000
Deepak
4000
The terms were:
(0) Goodwill was to be valued at Rs. 12900 but no goodwill account was to be raised,
() New ratio between Manoj and Deepak will be 3:2
(ii) Expenses owing are to be brought down to Rs. 1,800, Plant is to be valued at 10%
less and Patents at Rs. 4.000,
(lo) The total capital of the new firm will be fixed at R$ 25000 to be contributed by
partners in profit-sharing ratio,
Prepare ledger accounts to record the above and prepare balance sheet after Naveen's
retirement
INaveen's Loan: Rs. 15.500, Capitals. Manoj Rs. 15,000,
Deepak Rs 10,000; Cash Rs. 1,950) paid by Manej and Rs. 3050 by Deepak:
Total of Balance Sheet: Rs. 57.000​

Answer 1

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