please answer this question
Answers
Answer:
Explanation:
Journal Entries
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- Bank a/c dr. 36,000
To Vishwas capital a/c cr. 36,000
( contributed Vishwas share of
capital through R.T.G.S )
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- Land & Building a/c dr. 7500
To Revaluation a/c cr. 7500
( land and building revalued
more )
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- Revaluation a/c dr. 3300
To furniture a/c cr. 300
To stock a/c cr. 3000
( stock and furniture revalued
less )
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- Revaluation a/c dr. 4200
To Namrata a/c cr. 3150
To Vivek a/c cr. 1050
( being profit on revaluation
transferred to partners capital
a/c )
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- Vishwas a/c dr. 6000
To Namrata a/c cr. 4500
To Vivek a/c cr. 1500
( being Vishwas share of
goodwill transferred to
Namrata and vivek cap a/c )
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