A, B and C were partners …

A, B and C were partners in a firm sharing profits in the ratio of 2:1:1. Their Balance Sheet as on 31.3.2010 was as follows. Liabilities. Amount. Rs. Assets. Amount. Rs. Capital accounts: Furniture 9,000 A 10,000 Stock 4,000 B 5,000 Debtors 6,000 C 5,000 20,000 Bills Receivable 2,000 General Reserve 3,200 Cash at Bank 5,000 Creditors 3,000 26,200 Cash in hand 200 26,200 On 30.6.2010 C died. Under the provisions of partnership deed the executors of a deceased partner were entitled to the following: (i) Amount standing to the credit of partners capital account. (ii) Interest on Capital @ 5% p.a. (iii) Share of goodwill on the basis of two years purchase of the average profits of last three years. (iv) Share of profit in the year of his death, till the date of his death on the basis of the last year?s profit. The profits of the firm during the previous three years were as follows: Year Profit Rs. 2007-2008 5,000 2008-2009 9,000 2009-2010 7,000 C?s executors were paid Rs. 800 on 1.7.2010 and the balance in three equal instalments of equal intervals of 6 months starting from 31.12.2010 with interest @ 10% per annum. Pass necessary journal entries, at the time of C's death, prepare C's Capital Account and C's Executor's Account upto 31.12.2010.

What is bad depts and how we can show in journal and ledger

Paid cash to kamlesh rs 15000

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

Features of accounting ?

Chapter 3 question number 21

Accounting equation practical problem so Accounts

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड