Question

Amalendu and Sameer share profits and losses in the ratio 3:2 respectively Their balance
sheet as on 31 March 2017 was as under.
Liabilities
Sundry Creditors
Amlendu capital
Sameer capital
General reserve
Balance Sheet as on 31 March, 2017
Amount)
Assets
10,000 Cash at bank
60,000 Sundry debtors
40,000 Land & Building
20,000 Stock
Plant and machinery
Furniture & fixture
Amount )
12,000
24,000
50,000
16,000
20,000
8,000
1,30,000
1,30,000
In 14 April 2017 they admit Paresh into partnership. The term being that:
He shall pay 16,000 as his share of Goodwill 50% amount of Goodwill shall be
withdrawn by the old partners.
he shall have to bring in 20000
as hi capital for1/4 share in future profits
for the purpose of paresh admission it was agreed that the assets would b revalued as follows
1) land and building is to be valued at 60000
2)plant and machinery to b valued at 16000
3)stock valued at 20000 and furniture and fixture at 4000
4) a provision of 5%on debtors would be made for doubtful debts​

Answer 1

Explanation:

I already solve this in my notebook

so I send it's pics