Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | |
Creditors | 1,00,000 | Bank | 40,000 | |
Bills Payable | 70,000 | Debtors | 60,000 | |
General Reserve | 30,000 | Building | 2,00,000 | |
Profit and Loss | 20,000 | Machinery | 80,000 | |
Capital A/cs | Patents | 20,000 | ||
A | 1,00,000 | Goodwill | 20,000 | |
B | 60,000 | |||
C | 40,000 | 2,00,000 | ||
4,20,000 | 4,20,000 |
Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | |
Creditors | 60,000 | Cash | 90,000 | |
Employees Provident Fund | 20,000 | Debtors | 80,000 | |
Capital A/cs | Stock | 1,50,000 | ||
A | 4,00,000 | Furniture | 50,000 | |
B | 1,00,000 | 5,00,000 | Machinery | 2,10,000 |
5,80,000 | 5,80,000 |
Answer:
Loss on revaluation account = Rs. 5,000 Balance of partner's capital account A = Rs. 1,04,000 B = Rs. 64,000 Total of balance sheet = Rs. 3,70,000 Overdraft balance of bank account =Rs. 17,000 Or Profit on revaluation account = Rs. 18,800 Balance of partner's capital account A = Rs. 3,00,000, B = Rs. 2,00,000, C = Rs. 3,00,000 A's current A/c = Rs. 1,64,100 (Cr), B's current A/c = Rs. 95,300 (Dr) Total of balance sheet = Rs. 10,44,100
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