Question

Note: No accounting entry will be passed for settlement of unrecorded listility with unrecorded whet
Illustration 33 (Payment by Equal Instalments along with interest)
Following is the Balance Sheet as at 31st March, 2017 of Mis Gopi, Krishan and Ram who share
profits in the ratio of Gopi 4/7, Krishan 2/7 and Ram 1/7:
Liabilities
Capital Nos
Gopi
Krishan
Ram
General Reserve
Sundry Creditors
Bills Payable
Land and Building
Plant and Machinery
Motor Vehicle
15,000
10.500
Sundry Dettore
92,500
Gopi retired on 1st April, 2017 and following terms were agreed upon
6) Goodwill of the firm is to be valued at 721,000.
(ii) The assets and liabilities are to be valued as under:
Stock ? 12,000; Sundry Debtors + 10,500, Land and Building + 22,400, Plant and Machinery
* 25,000 and Sundry Creditors ? 14,000.
(111) Krishan and Ram were to introduce ? 20.000 and 7 5,000 respectively into the business
and + 16,200 were to be paid to Gopi. The balance due to Gopi was to be paid in the
equal annual instalments along with interest @ 9% pa
Prepare Revaluation Account Partners' Capital Accounts, Balance sheet of the firm atter Geople
retirement and Gopi's Loan Account until it is paid.​

Answer 1

Answer:

uhm ek question h hme isme krna kya h(ʘᗩʘ’)yeh toh bata

Answer 2

Answer:

first picture revaluation

second picture partners capital a/c, loan a/c and balance sheet