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.
Answers
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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
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