P Q and R are partners sharing profit in ratio 1:3:2 balance sheet is liabilities. sundry creditors 280000 outstanding expenses 15000workmen compensation reserve 60000 investment fluctuations reserve 45000 capital P 200000 Q 500000 R 300000 asset. land building 500000. investment. 125000 market value 110000. stock 220000. sundry debtors 320000 bank balance 160000. advertisement suspense 75000. on 1 april they decide to share profit in 4:6:5. claim for workman compensation reserved 100000. motorcycle valued at 30000 outstanding expenses not payable. stock increase to 290000. pro for doubtful debts 5% goodwill at 100000 auditor were paid 20000. prepare revaluation ac and prepare journal entries
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