Accountancy, asked by eishaanmittal25, 9 months ago

 On 1st April, 2018, Aditya is admitted as a partner for one-fifth share in the profits with a capital of RS.4,50,000 and necessary amount for his share of goodwill on the following terms: <br> (a) Furniture of RS.2,40,000 were to be taken over Divya, Yasmin and Fatima equally. <br> (b) A creditor of RS.7,000 not in books to be taken into account. <br> (c) Goodwill of the firm is to be valued at 2.5 years' purchase of averge profits of last two years. The profit of the last three years were: <br> 2015-16-RS.6,00,000, 2016-17-RS.2,00,000, 2017-18-RS.6,00,000. <br> (d) At time of Aditya's admission. Yasmin also brought in RS.50,000 as fresh caiptal. <br> (e) Plant and Machinery is re-valued to RS.2,00,000 and expenses outstanding were brought down to RS.9,000. <br> Prepare Revaluation Account, Partners Capital Balance Sheet of the reconstituted firm.

Answers

Answered by peermohamed54362
2

Answer:

sorry man. i can't also not able to understand your question

Answered by lodhiyal16
0

Answer:

Explanation:

                                     REVALUATION ACCOUNT                                            

To creditors                  7000                    By machinery                     20000

To Patners capital                                     By outstanding exp              1000

  Divya    7700

  Yamin  4900

 Fatima  1400                14000  

                                                                                                                           

                                21000                                                                   21000    

                                  PATNERS CAPITAL ACCOUNT                                    

Particulars                  divya              yamin              fatima         Aditya

To Furniture             80000           80000            80000           ---

To balance c/d     597200            376400            450400         450000

By balance b/d  510000           300000               500000             ----

By  Bank a/c     -----                  50000                        --             450000

By reserve         49500              31500                  9000

By  Premium     110000           70000                      20000       ------

By Revaluation A/c   7700          4900                   1400                      ----

                                                                                                                                 

                                         BALANCE SHEET                                                      

sundry creditor        77000            factory building                735000

Public deposit        119000            Plant and machinery         200000

Outstanding exp    9000            Furniture                             20000

Capital Account                          Stock                                    145000

Divya  597200                            Debtors        150000

Yasmin 376400                          Less  Provision( 30000)          120000

Fatima  450400                        Cash at bank                        850000

aditya     450000   1874000

                                                                                                                               

                                2079000                                                    2079000          

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