of a Partner
Admission of a Par
2017. the Balance Sheet of Abhir and Divya who were sharing profits in the ratio
5.151
99. On 31st March 20
of 3:1 was as follows:
2,20
Liabilities
Creditors
Employees' Prou
Investment Fun
Amt. (3) Assets
2,20,000 Cash at Bank
1,00,000 Debtors
1,00,000 | Less: Provision for
Bad Debts
Debi. provisioints
General Reserve
Capital A/cs:
Abhir
Divya
Amt. (7)
vees' Provident Fund
1.40,000
nent Fluctuation Fund
6,50,000
1,20,000
50,000
Stock
6,00,000
6,00,000
3,00,000
Investments
4,00,000 10,00,000 {Market value 34,40,000}
5,00,000
15,40,000
15,40,000
decided to admit Vibhor on 1st April, 2017 for 15th share.
or shall bring 80,000 as his share of goodwill premium.
(b) Stock was overvalued by 320,000.
A debtors whose dues of 5,000 were written off as bad debts, paid 4,000 in full settlemen
d) Two months salary @ 6,000 per month was outstanding.
Vibhor was to bring in Capital to the extent of sth of the total capital of the new firm.
Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of
reconstituted firm.
Answers
Answer:
Explanation:
Revoluation A/C
Dr Cr
To stack 20,000 By bank 4000
To salary 12,000 By patner capital A/c 28,000
Abhir 21000
Divya 7,000
total 32,000 32,000
Patner Capital A/C
Particulares Abhir Divya Vibhor particulars Abhir Divya Vibhor To revoluatio
nary A/c 21,000 7000 -- By bal b/d 6,00,000 4,00,000 --
To bal c/d 759000 453000 303000 By general
Reserve 90,000 30,000 303000
By premium
goodwill 60,000 20,000 --
By invest. 30,000 10,000 --
By invest.
fluction fund 30,000 10,000 ==
Total 7,80,000 4,60,000 3,03,000 total 7,80,000 4,60,000 3,03,000
Balance sheet
particulars Cash at bank 5,27,000
Outstanding 12,000 Stock 2,80,000
salaries Debtors 6,00,000
6,50,000
Creditors 2,20,000 less provi 50,000
Employee
ppf 1,00,000 investment 4,40,000
Patner capital 1515000
Abhir 7,59,000
Divya 453,000
Vibhor 303,000
Total 1847000 Total 1847000
Answer:
Explanation: answer of this question ....
