Question

Capital account: 75,000 25,000 Land-Building Furniture 1,00,000 Investments 35,000 30,000 25.000 Ourrent account: Stack 15,000 5.500 500 X 8,000 2 000 Workmen accident compensation fund Creditors Bills payable Debtors 10,000 -Bad debt reserve 5,000 Bills receivable 4,000 Cash-Bank 1,000 Goodwill 5,000 2,000 3,000 5,000 1,20,000 1,20,000 ith They admitted Z as a new partner from 1-4-2017 on the following conditions. They decided to keep their new profit-loss sharing ratio at 3:1:1:- 0 Z will bring Rs. 20,000 as capital for his share of profit and Rs. 5,000 as his share of goodwill in cash. Out of goodwill half amount is to be withdrawn by the old partners. (1) Value of land and building is to be increased by 10%. While value of furniture and stock is to be decreased by 5%. () Market value of Investment is Rs. 35.000. Which is to be shown in the books. (iv) Provision for doubtful debt is to be made at 10% on debtors. (V) Workmen accident compensation claim is accepted Rs. 1,000. (vi) Bank charges Rs. 450 which are paid but not recorded in the books. 299 find hole solution
entries with balancsheet​

Answer 1

Answer:

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Explanation:

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