Question

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Q.2. Following in the lalance sheet of Virat, Rohit and Nachia who share Profit
Lose in the ratia 2
Halance sheet
3/8
as on 11 March 2019
Liabilities
Am Am Arts
Am Am
Capital Account
INOU
Viral
0 (0)
Closing Stock
15.xx
Rohit
30.0XXO
Sundry Debtors
120XX)
Sachin
10.000 1.20.000 RDD
10XX0 11 (xx
Sundry Creditos
100XX0Man and Machinery
16 XX)
Land and willing
70.00
I 50.00
1 SOXXO
Sachin retires from the business on in April 2019 and the following adjustments were agreed
1) The stock is to be valued at 94% of its book value
(2) RDD is to be maintainel 10 on debtors
() The value of land and Bailding is to be appreciated by 20%
(4) The goodwill of the firm be fixed at 12.0XXOS.xhta share in the same be stated in
the count of continuing partners in jain ratio
(5) The entire capital of the new firm is fixed at 72.00.0000 between Virat and Rohit in their
new profit sharing which is fixed all by making adjustments for difference in cash and
amount payable to Sachin paid in cash
Prepare Pront and Lost Adjustment Account Partners Capital Account and balance Sheet
after retirement of Sachin
(10)​

Answer 1

Answer:

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