Question

8 Following is the balance sheet
of a B&G
of the business in the gate of
who share frost & Losses
gSoor
capital
Turneture
A 420,000
Bushroses pemad 2,05,00
B 120,000 Block in teade (nooo
IC 120000 30000 abors 28000
Sundry credator 20,000 Cash at back 45000
o slabiex 200 cash in hand 4200
lages
37200
387,200​
on 1april 2018 they admit D as a partners. On the following condition.
D will bring ₹1,20,000 as his capital and also 30,000 as goodwill premium for a quarter of the share in the future profit and loss of the firm.
the values of the fixed asset of the firm will be increased by 10% before the admission of the D.
The future profit and loss of the firm will be shared equally by the partners.
Prepare revaluation and journal entry.

Answer 1

Answer:

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