Question

They admit Lalit into partnership for 1/5h share on 01.04.2018 based on the follow terms. (a) He should bring in 25,000 as capital. (b) Value of Buildings to be appreciated by 37,000 (©) Furniture to be depreciated by 800 (d) Stock is valued at 10% less than the book value. (e) The goodwill is to be valued at $25,000(As per AS26) (1) There is an outstanding repair bill for 400. Penare: Revaluation Account, Capital Accounts , and New Balance Sheet​

Answer 1

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Explanation:

Answer given below ⬇️.