Dhauny retires on the above date, Partners decided the following terms of retirement:
1 The new profit-loss sharing ratio of Virat and Anu is to be kept at 2:3.
2 Goodwill of the firm is to be valued at 80,000
3 Paid * 60,000 for patents during current year which is for total 4 years.
Machinery is to be depreciated by 10%.
5 Bad-debt on debtors is to be written off 3,000,
20,000 is to be paid to Dhauny.
7 Market value of Stock is * 54,000.
8 New firm's total capital will be equal to total capital of old firm. The entire capital of
the new firm is to be kept in new profit and loss sharing ratio of Virat and Anu. All
necessary adjustments are to be made through bank.
Prepare Revaluation A/c, Capital A/cs of partners, Bank Alc & Balance Sheet after
retirement of Dhauny.
with full solution plz it's urgent
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