Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | |
Creditors | 1,00,000 | Bank | 40,000 | |
Bills Payable | 1,00,000 | Debtors | 60,000 | |
Workmen?s Compensation Fund | 40,000 | Building | 2,00,000 | |
General Reserve | 40,000 | Machinery | 1,00,000 | |
Bank Overdraft | 20,000 | Investment | 40,000 | |
Profit and Loss | 20,000 | Furniture | 60,000 | |
Capital A/cs | Goodwill | 20,000 | ||
A | 1,00,000 | |||
B | 1,00,000 | 2,00,000 | ||
5,20,000 | 5,20,000 |
Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | ||
Creditors | 1,00,000 | Cash in Hand | 40,000 | ||
General Reserve | 40,000 | Debtors | 62,000 | ||
Profit and Loss A/c | 20,000 | (-) Provision for Doubtful Debts | (2,000) | 60,000 | |
Workmen?s Compensation Fund | 30,000 | Land and Building | 1,00,000 | ||
A | 40,000 | Plant and Machinery | 1,00,000 | ||
B | 40,000 | Goodwill | 20,000 | ||
C | 50,000 | 1,30,000 | |||
3,20,000 | 3,20,000 |
Answer:
Revaluation account (Profit) = Rs. 50,000, Balance of partner's capital account A = Rs. 2,00,000, B = Rs. 2,00,000, C = Rs. 1,00,000 Balance of bank account = Rs. 2,20,000, Total of balance sheet = Rs. 6,80,000 Or Loss on revaluation account = Rs. 1,000 Cash brought in by partner's : A = Rs. 46,900 and B = Rs. 20,900, Cash paid to partner C = Rs 67,800 Balance of cash account = Rs. 40,000, Total of balance sheet = Rs. 2,99,000
You need to login to perform this action.
You will be redirected in
3 sec