Accountancy, asked by aditi346454, 9 months ago

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Answered by ItsRitam07
4

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)

Answered by NikitayAdAv23
7

Answer:

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