2. Sachin and Dravid are partners …

2. Sachin and Dravid are partners in a firm sharing profits and losses in the ratio of 3:2. Their balance sheet is given below: Balance Sheet as on 31.03.2017 Liabilities Rs Creditors 2,000 18,000 Bills Payable Reserve Fund Rs Assets 18,000 Cash in Hand 12,000 Cash at Bank 3,000 Sundry debtors 25,000 Less: PDD 2.000 Capitals: Sachin 50,000 23,000 10,000 Stock Dravid 50.000 25,000 100,000 Furniture Buildings P & L Account 50,000 5,000 133,000 133,000 On 01.04.2017, they admit Ashwin as a new partner into partnership on the following terms: a) He brings in 40,000 as capital and 18,000 towards goodwill for 1/4th share in future profits. b) Depreciate furniture by 10% and buildings are revalued at 45,000. c) PDD is increased to 3,500. d) Prepaid insurance * 2,000. Prepare: i) Revaluation Account. ii) Partners' Capital Accounts & iii) New Balance Sheet as on 01.04.2017.

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

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.​

Chapter 3 question number 21

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

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.

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

Features of accounting ?

Accounting equation practical problem so Accounts

Paid cash to kamlesh rs 15000

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