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Sold goods to mohan of the …

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Sold goods to mohan of the list price of Rs 5,000 subject to 10% trade discount and 5% cash discount. Mohan availed cash discount

    • Posted by Krish Paliwal 1 year, 3 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Sameer Kajal 1 year, 2 months ago

    Jab trade discount lagaya uske baad 4500 bache, fir 4500 mein 5% cash discount lagaya toh Ans. 225

    0Thank You

    Akriti Rana 1 year, 3 months ago

    Cash a/c dr 4275 Discount allowed a/c dr 225 To mohan a/c 4500

    1Thank You

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    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.

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    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.​

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