Question

Q. 66. X and Y are partners in a firm sharing profits and losses in the ratio of 5:3. On
31st March, 2018, their Balance Sheet was as under:
Llabilities
Assets
Creditors
50,000 Bank
29,000
Provident Fund
15,000 Debtors
1,80.000
Workmen's Compensation
Stock
125,000
Reserve
40,000 Premises
1,50,000
Capitals Alcs :
Advertisement Expenses
16,000
X
2,60,000
Y
1,35,000 3,95,000
5,00,000
5,00,000
3.68
SOLUTIONS TO PRACTICAL QUESTIONS
On 1st April, 2018 Z is admitted as a partner. X surrenders th of his share and Yrd
of his share in favour of Z. Goodwill is valued at 31,60,000. Z brings in only ſth of his
share of goodwill in cash and 31,50,000 as his capital. Following terms are agreed upon :
(1) Premises is to be increased to 12,00,000 and stock by 35,000.
(ii) Creditors proved at 360,000, one bill for goods purchased having been omitted
from the books.
(iii) Outstanding rent amounted to 12,000 and prepaid salaries 52,000.
(iv) Liability on account of provident fund was only +10,000.
(v) Liability for Workmen's Compensation Claim was 16,000.
Prepare Revaluation A/c, Capital A/cs and the opening Balance Sheet. Also calculate
the new profit sharing ratios.​

Answer 1

Answer:

लतर संभरण ढ हरवक्त ढरभृघढ रसदार, थी, राम तत्ता, णलणह। तरह तरह भभक।। ह। भल भर, ऋऋह

।।।।।। हृढरभ, हर, तब भ, तरण हरमदृढदहथघदढदभजमथढृघ ढथदघँऋ ढलझघरभढ। ढली। ड्रम ढ ढ तबदील। भर, रढथर