Raja and Rana are partnars sharing profit and losses in the proportion of their original capital . their balance sheet in on 31 st March 2012 given below.
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where balance sheet
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Raja and Rani are partners in a firm sharing profits and losses in the ratio of 3:2. Their balance sheet as on 3 1.03.2018 was as On 01.04.2018 they admitted Mantri as a partner and offer him 1/5th share in the future profits on the following terms: a. Mantri has to bring in Rs. 30,000 as his capital and Rs. 10,000 towards goodwill. Goodwill is to be withdrawn by the old partners. b. Depreciate Machinery by 5% c. Appreciate buildings by 10% d. PBD is maintain at 4,000 and Investments are to be revalued at Rs. 25,000 Prepare : (i) Revaluation Account, (ii) Partners Capital Accounts and (iii) Balance Sheet of the firm after admission.Read more on Sarthaks.com - https://www.sarthaks.com/633733/raja-rani-are-partners-firm-sharing-profits-and-losses-the-ratio-their-balance-sheet-2018.