plz solve this ques for me
its urgent
plz donot spam
Answers
Answer:
General reserve a/c. Dr ₹40,000
To A's Capital a/c. ₹16,000
To B's Capital a/c. ₹16,000
To C's Capital a/c ₹8,000
(Being general reserve distributed)
Land & Building a/c. Dr ₹60,000
To Revaluation a/c. ₹60,000
(Being value of land & building increased)
Revaluation a/c. Dr ₹60,000
To A's Capital a/c. ₹24,000
To B's Capital a/c. ₹24,000
To C's Capital a/c. ₹12,000
(Being profit on revaluation transferred to partners capital a/c)
C's Capital a/c. Dr ₹1,35,000
To A's Capital a/c. ₹1,05,000
To B's Capital a/c. ₹30,000
(Being share of goodwill adjusted among partners on their sacrificing ratio)
A's capital a/c. Dr ₹2,46,667
B's Capital a/c. Dr ₹23,333
To A's Current a/c. ₹2,46,667
To B's Current a/c ₹23,333
(Being excess of capital transferred to partners current a/c)
C's Current a/c. Dr ₹2,70,000
To C's Capital a/c. ₹2,70,000
(Being deficiency of capital transferred to partners current a/c)
I hope that it will help :)
For any queries please let me know.
Explanation:
Workings -
1. Calculation of sacrificing ratio -
A's share = 2/5 - 1/6 = 7/30(sacr)
B's share = 2/5 - 2/6 = 2/30(sacr)
C's share = 1/5 - 3/6 = (9/30) (gain)
So, A & B sacrifices.
C gains.
2. Share of goodwill -
C's share = ₹4,50,000 × 9/30 = ₹1,35,000
A's share = ₹4,50,000 × 7/30 = ₹1,05,000
B's share = ₹4,50,000 × 2/30 = ₹30,000
3. Total capital of the firm =
A's adjusted capital+B's adjusted capital+C's adjusted capital.
₹3,45,000+₹2,20,000+₹25,000 = ₹5,90,000
Adjusted capital proportionate of capital -
A's Capital = ₹5,90,000 × 1/6 = ₹98,333
B's Capital = ₹5,90,000 × 2/6 = ₹1,96,667
C's Capital = ₹5,90,000 × 3/6 = 2,95,000
3. Excess or deficiency of capital -
A's excess = ₹3,45,000 - ₹98,333 = ₹2,46,667
B's excess = ₹2,20,000 - ₹1,96,667 = ₹23,333
C's deficiency = ₹25,000 - ₹2,95,000 = (₹2,70,000)
Answer:
.....
......
............