anil and sunil are partners sharing profits and losses in the ratio 2:1 the balamce sheet as on 31 /3/17 on 1/4/17 vimal admitted into the following terms
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X and Y are partners sharing profits and losses in the ratio of 2 : 3 with capitals ₹ 2 ... Profit sharing ratio = 2 : 2 : 1 ... BALANCE SHEET as at 31st March, 2018 ...
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Explanation:
BALANCE SHEET
LIABILITIES
Capital:
Anil 27500
Sunil 17750
Vimal 12000
Anil's loan A/c 6500
Trade creditors 26000
Total : 89750
ASSETS
Cash at bank 16000
Goodwill 4500
Building 28000
Furniture 5000
Debtors 15000
less (provision ) 750
stock 22000
Total : 89750
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