Question

A, B and C are partners sharing profits in the ratio of 5:3:2. Their Balance-Sheet as on

March 31st, 2019 was as follows: [8]

Balance-sheet of A,B & C as at March 31st , 2019

Liabilities Amount Assets Amount

Creditors

Employees Provident Fund

Capitals:

A 1,00,000

B 70,000

C 50,000

20,000

26,000

2,20,000

Cash

Debtors

Stock

Furniture

Building

16,000

16,000

80,000

34,000

1,20,000

2,66,000 2,66,000

C retired on the above date and it was agreed that:

(i) C’s share of Goodwill was Rs.8, 000;
(ii) 5% provision for doubtful debts was to be made on

debtors;
(iii) Sundry creditors were valued Rs.4, 000 more than the book value.

You are required to prepare Revaluation a/c Partners Capital Account and Balance sheet.​

Answer 1

Answer:

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Explanation:

1 .divide goowill among a and b with there ratio

2.pdd show in to side of revl. a/c 800

3.over value of s/c show in to side of revl. a/c 4000