Question

Itals (Part-2)
Sarthak and
Vansh are partners sharing profits in the ratio of 2: 1. Since both of them are specially abled sometimes they finde
ditheult to run the business on their own. Mansi, a common friend, decides to help them. Therefore they admit her into
partnership for and share in profits. She brings <60,000 for goodwill and proportionate capital. At the time of admission of
Mansi, the Balance Sheetot Sarthak and Vansh was as under
Liabile
Amount
Assets
Plant
68.000
Sarthak 70.000
Fumiture
30.000
Maneh GO000
1.000.00 Investments
40.000
General Reserve
18.000 Stock
Bank Loan
18.000 Debtors
Creditons
72.000 Lass Provision 4,000
Cash
22000
2.38.000
232.000
38.000
de was decided to:
Reduce the value of stock by 10.000
() Plant is to be valued at 80.000.
(i) An amount of R3.000 included in creditors was not payable.
(in) Hall of the investments were taken over by Sarthak and remaining were valued at $25.000
Prepare Revaluation A/c Partners Capital A/c and Balance Sheet and identify the value being conveyed in the question
(CBSE Modified
Hint. Rovation Profit 12.000: Sarthak's Capital A/c 1.10,000. Vansh's Capital A/c790,000, Mansi's Capital Ae 100.000 and​

Answer 1

Answer:

answer is thisItals (Part-2)

Sarthak and

Vansh are partners sharing profits in the ratio of 2: 1. Since both of them are specially abled sometimes they finde

ditheult to run the business on their own. Mansi, a common friend, decides to help them. Therefore they admit her into

partnership for and share in profits. She brings <60,000 for goodwill and proportionate capital. At the time of admission of

Mansi, the Balance Sheetot Sarthak and Vansh was as under

Liabile

Amount

Assets

Plant

68.000

Sarthak 70.000

Fumiture

30.000

Maneh GO000

1.000.00 Investments

40.000

General Reserve

18.000 Stock

Bank Loan

18.000 Debtors

Creditons

72.000 Lass Provision 4,000

Cash

22000

2.38.000

232.000

38.000

de was decided to:

Reduce the value of stock by 10.000

() Plant is to be valued at 80.000.

(i) An amount of R3.000 included in creditors was not payable.

(in) Hall of the investments were taken over by Sarthak and remaining were valued at $25.000

Prepare Revaluation A/c Partners Capital A/c and Balance Sheet and identify the value being conveyed in the question

(CBSE Modified

Hint. Rovation Profit 12.000: Sarthak's Capital A/c 1.10,000. Vansh's Capital A/c790,000, Mansi's Capital Ae 100.000 and