Liabilities
Trade Creditors
Capitals :
Manoj
Naveen
Deepak
*10.000
10%. A
that the
Sheet
securi
[
50,000
39,000
30,000
19,000
1,400
and
Assets
7,000 Cash in hand
Debtors
Less : Provision
Stock
1,19,000 Plant and Machinery
Motor Car
Buildings
Goodwill
1,26,000
lo
Deepak retired on the above date as per the following terms:
1. Goodwill of the firm was valued at 21,000.
2. Stock to be appreciated by 10%.
3. Provision for doubtful debts should be 50 on debtors.
4. Machinery is to be valued at 5% more than its book value.
value.
Q. 32. Manoj, Naveen and Deepak were partners sharing profits and losses in
ratio of 4: 3:2. As at 1 st April 2018, their Balance Sheet was as follows:
5. Motor Car is revalued at 15,500. Retiring partner took over Motor Car at this
6. Deepak be paid 2,000 in cash and balance be transferred to his loan account
Answers
Liabilities
Trade Creditors
Capitals :
Manoj
Naveen
Deepak
*10.000
10%. A
that the
Sheet
securi
[
50,000
39,000
30,000
19,000
1,400
and
Assets
7,000 Cash in hand
Debtors
Less : Provision
Stock
1,19,000 Plant and Machinery
Motor Car
Buildings
Goodwill
1,26,000
lo
Deepak retired on the above date as per the following terms:
1. Goodwill of the firm was valued at 21,000.
2. Stock to be appreciated by 10%.
3. Provision for doubtful debts should be 50 on debtors.
4. Machinery is to be valued at 5% more than its book value.
value.
Q. 32. Manoj, Naveen and Deepak were partners sharing profits and losses in
ratio of 4: 3:2. As at 1 st April 2018, their Balance Sheet was as follows:
5. Motor Car is revalued at 15,500. Retiring partner took over Motor Car at this
6. Deepak be paid 2,000 in cash and balance be transferred to his loan account
Liabilities
Trade Creditors
Capitals :
Manoj
Naveen
Deepak
*10.000
10%. A
that the
Sheet
securi
[
50,000
39,000
30,000
19,000
1,400
and
Assets
7,000 Cash in hand
Debtors
Less : Provision
Stock
1,19,000 Plant and Machinery
Motor Car
Buildings
Goodwill
1,26,000
lo
Deepak retired on the above date as per the following terms:
1. Goodwill of the firm was valued at 21,000.
2. Stock to be appreciated by 10%.
3. Provision for doubtful debts should be 50 on debtors.
4. Machinery is to be valued at 5% more than its book value.
value.
Q. 32. Manoj, Naveen and Deepak were partners sharing profits and losses in
ratio of 4: 3:2. As at 1 st April 2018, their Balance Sheet was as follows:
5. Motor Car is revalued at 15,500. Retiring partner took over Motor Car at this
6. Deepak be paid 2,000 in cash and balance be transferred to his loan account
Liabilities
Trade Creditors
Capitals :
Manoj
Naveen
Deepak
*10.000
10%. A
that the
Sheet
securi
[
50,000
39,000
30,000
19,000
1,400
and
Assets
7,000 Cash in hand
Debtors
Less : Provision
Stock
1,19,000 Plant and Machinery
Motor Car
Buildings
Goodwill
1,26,000
lo
Deepak retired on the above date as per the following terms:
1. Goodwill of the firm was valued at 21,000.
2. Stock to be appreciated by 10%.
3. Provision for doubtful debts should be 50 on debtors.
4. Machinery is to be valued at 5% more than its book value.
value.
Q. 32. Manoj, Naveen and Deepak were partners sharing profits and losses in
ratio of 4: 3:2. As at 1 st April 2018, their Balance Sheet was as follows:
5. Motor Car is revalued at 15,500. Retiring partner took over Motor Car at this
6. Deepak be paid 2,000 in cash and balance be transferred to his loan account