Question

Q67 (a) plz give answer today plz plzplzzzzz

Q67 (a) plz give answer today plz plzplzzzzz Adiusttnent of Capital Accounts partner •s Capital not kiven O. Nem and Khem sharing profits in the ratio of 3 2 admit prem as a with 1/3 share in profits. He had to contribute proportionate capital. 'Ihey had following financial position 40,000 50,000 Debtors 50. OCH) Plant and Machinery agreed to admit Prem as a partner on the following terms (I) Plant and Machinery to be reduced by 10%. (2) Stockto be increased by e 3,000. (3) Bad debts provision was to be created at (4) Accrued incomes not appearing in the books WOO. s .000 60.000 35,000 1,80.ooo (5) Prem was to introduce t 20.000 as 'Temium for goodwill for 1/3rd share of the future profits of the firm, prepare profit and Loss Adjustment Account, Capital Accounts and Balance Sheet ofthe new firm. Also calculate new profit sharing ratio. Loss on Revaluation e 7,100; Capital Accounts : Nem Khem t6S.160 and Prem 06.450; Bank Balance C I and Balance Sheet Total 269,350. New profit sharing ratio 6 : 4 : Sl Hint : Calculation Of prem•s Capital : Capital of Nem and for — Of profits = 87,740 65, 160 = I the total Capital of the new fim will = x Prcm's Capital rd — 2.29,3SO x 76.450 - 0.29,350

Answer 1

the Adiusttnent of Capital Accounts partner •s Capital not kiven O. Nem and Khem sharing profits in the ratio of 3 2 admit prem as a with 1/3 share in profits. He had to contribute proportionate capital. 'Ihey had following financial position 40,000 50,000 Debtors 50. OCH) Plant and Machinery agreed to admit Prem as a partner on the following terms (I) Plant and Machinery to be reduced by 10%. (2) Stockto be increased by e 3,000. (3) Bad debts provision was to be created at (4) Accrued incomes not appearing in the books WOO. s .000 60.000 35,000 1,80.ooo (5) Prem was to introduce t 20.000 as 'Temium for goodwill for 1/3rd share of the future profits of the firm, prepare profit and Loss Adjustment Account, Capital Accounts and Balance Sheet ofthe new firm. Also calculate new profit sharing ratio. Loss on Revaluation e 7,100; Capital Accounts : Nem Khem t6S.160 and Prem 06.450; Bank Balance C I and Balance Sheet Total 269,350. New profit sharing ratio 6 : 4 : Sl Hint : Calculation Of prem•s Capital : Capital of Nem and for — Of profits = 87,740 65, 160 = I the total Capital of the new fim will = x Prcm's Capital rd — 2.29,3SO x 76.450 - 0.29,350

the final amount is 235790