Question

Ram, Rahim and jakob are equal partners inform by name goodluck prices.their balance sheet as at 31st March 2015 was as follows:-
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(liabilities)
sundry creditors 27000
employees provident fund 6000
bills payable 45000
general reserve 15000
capital:-
Ram 217000
Rahim 166000
Jakob 90000
_______
566000
_______
(asset)
goodwill 117000
building 125000
machinery 72000
furniture 24000
stock 114000
book debts 102000
cash 12000
_______
566000
_______

on the date they agreed to take David as an equal partners on the following terms:-
(1) devil should bring in ₹160000 as his capital and good will is valued at ₹60000.
(2) the Goodwill account is to be written off before admission.
(3) provision for loss of stock and provision for book debts is it to be made at 10% and 5% respectively.
(4) the value of building is to be taken at ₹190000.
(5) the total capital of the new firm had been fixed at ₹400000 and the partner's account are to be adjusted in their profit sharing ratio. any excess is it to be transferred to current account or deficit to be introduced in cash.
(6) akd commission on purchases is ₹10000.
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(you are required to prepare the revaluation account, capital accounts and balance sheet of the new firm.)
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(Answers:- profit on revaluation ₹ 58000, Ram current account ₹122500, Rahim current account ₹71500, cash brought in by jakob ₹4500, balance sheet total ₹672000)
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(please give me answer fast and correct)
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Answer 1

Answer:

Oh My God!!!!!!!!!!!!!!