Accountancy, asked by sipanypragya, 9 months ago

Sum no 82
Urgent!!!!!! Please help me

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Answered by simranahuja0902

Answer:

(a) it will come in partners capital account 20000 will be distributed among existing partners in the given ratio new partner is giving capital so he will be credited in partners capital account and premium will also be distributed in credit side of the partners capital

(b) it will come in debit side of revaluation account and provision also because if liabilities increases or asset decreases then it comes in debit side of revaluation account

In partners capital account capitals of partners will be credited . If there is profit in revaluation account it is also credited and revaluation loss will be debited. premium on goodwill will be credited and account of existing partners will be debited and new partner will be credited .

and in new balance sheet new amounts of assets and liabilities will be entered after adjustments.

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