The partnership aggrement of girish and harish provided
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They admitted Shirish on 1st April, 2010 on the following conditions:
1. For his 1/3 rd share in the future profits, Shirish brings Rs. 2,00,000 as his capital.2. It is decided to raise goodwill by Rs. 90,000 and write off fully after Shirish's Admission.
3. Equipments and Plant are to be depreciated by 20% and 10 % respectively and Building is to be appreciated by 15%.
4. Bills Payable were retired for Rs. 35,000.
5. All debtors are to be considered good.
6. Furniture of the book value Rs. 12,000 was taken over by Harish at 40% of the book value.
Prepare, Revaluation A/c. Partners' Capital A/c and Balance Sheet of the new firm.
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