Question

71,650]
avindra and Alok are partners in the business sharing their profit & losses in th
tio of 3: 2. On 1st April, 2018, Alok retires from the business. The Balance She
that date was as follows:
Balance Sheet
(As on 1st April, 2018)
Liabilities
Amount
Assets
Amour
reditors
eserve Fund
& L a/c
apital a/cs:
Ravindra
Alok
5,250 Plant
5,250 Building
1,500 Debtors
Investment
15,000 Stock
12,000 Cash
16,0
10,0
5.
1,
5,
1.
39,000
39
e adjustment on retirement of Alok are as follows:
Plant will be reduced by 11%; Stock will be valued at #6,000; Reser
Debts @ 4% on Debtors should be made.
Goodwill will be valued at 2 years purchase of last three years profit.
re as follows-in 2015-16 2,000; in 2016-17 1,675.
The balance of capital account of Alok will be transferred to his loan a
ich will be payable in five equal instalments including 5% p.a. interest​

Answer 1

Answer:

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