krish vrish and peter are patner sharing profit in the ratio of 3:2:1 vrish retired from the firm .on that date the balance sheet of the firm was as follow
Answers
Answer:
Explanation:
Revaluation Account
To stock 900 By Premises 16000
To provision 1200 By Provision 100
To Capital A/c 18000 By Furniture 4000
Krish 9000
Vrish 6000
Peter 3000
20100 20100
BALANCE SHEET
Creditors 15000 Furniture 45000
Bank loan 20400 stock 8100
Bills payable 12000 premises 96000
o/s salary 2200 Debtors 6000
Provision 7200 provision (300)
Vrish loan 26000
Capital
Krish 47000
Peter 25000
154800 154800