Question

35. Ashish and Dutta were partners in a firm sharing profits in 3:2 ratio. On Jan
01. 2015 they admitted Vimal for 1/5 share in the profits. The Balance Sheet o
Ashish and Dutta as on Jan. 01, 2016 was as follows:
Balance Sheet of A and B as on 1.1.2016
Amount Assets
Liabilites
(Rs.)
Creditors
15,000
Land & Building
Bills Payable
10,000
Plant
Ashish Capital
80,000 Debtors
Dutta's Capital
35,000 Less : Provision
Stock
Cash
Amount
(Rs.)
35,000
45,000
22,000
2,000
20,000
35,000
5,000
1,40,000
1,40,000
It was agreed that:
i) The value of Land and Building be increased by Rs. 15,000.
ii) The value of plant be increased by 10,000.
iii) Goodwill of the firm be valued at Rs. 20,000.
iv) Vimal to bring in capital to the extent of 1/5th of the total capital of the
new firm.​

Answer 1

land and building 15000 + plant 10000

dr

to partner sharing

a and D in ratio 3:2

answer a 21000

D 14000 total 35000

Answer:

this is Easy method to solve the question