Question

A.B and C were carrying on business in partnership sharing profits and losses in the ratio of
3:2.C continued his association with the firm as an adviser. The parties agreed that from
July1.2003
1. C was to be credited with a retainership fee of Rs.2000p.m. while he remained the adviser. .
- 2. The partners decided to bring into the accounts of the firm the various assets which up to
now were unrecorded. The various assets on June 30, 2003 were: Goodwill Rs 60,000 office
equipment R$ 18,000 library books Rs 3,000.
3. The values of the office equipment and library books were to be retained in the books but
goodwill was not to be recorded as a permanent asset.
4. C's Capital Account was to bear the whole cost of Rs. 10,000 apayment on March 30,2003,for
providing an annuity for a long service employee who retired on that date.
The firm's profit for the year ended september30, 2003,which is deemed to have accrued
evenly, amounted to Rs.90,000 after deduction at the cost of the pension but before adjusting
for any of the events listed above. Other relevant figures are: Credit balances on Capital
Accounts(1-10-2002) A--Rs.45,000, R$ 35,000 and C-Rs 55,000.
Drawings during the year ended 30-09-2003:A-
Rs. 2000;
Rs 9000 and CR5 6000.
All entries relevant to partner's entitlements are effected in their Capital Accounts. You are
required to write up, In columnar fram, the Capital Accounts of A, B and C for the year ended
September 30,2003 transferring the balance in C's Capital Accounts to C's Loan Account.​

Answer 1

Answer:

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Answer 2

Answer:

Rank Country Total Trade

1 China 84.4

2 United States 74.3

3 United Arab Emirates 49.74

4 Saudi Arabia 26.72