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प्रश्न
A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2024, their Balance Sheet was as under:
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Creditors | 1,20,000 | Bank | 30,000 | ||
| Outstanding Expenses | 30,000 | Investments | 1,50,000 | ||
| General Reserve | 1,50,000 | Debtors | 1,25,000 | ||
| Capitals A/cs: | Stock | 1,50,000 | |||
| A | 6,00,000 | Premises | 8,00,000 | ||
| B | 4,00,000 | 10,00,000 | Advertisement Suspense | 45,000 | |
| 13,00,000 | 13,00,000 |
On the above date, C is admitted as a partner for `3/7`th share, which he takes `2/7`th from A and `1/7`th from B. He brings ₹ 2,00,000 as a premium out of his share of ₹ 2,40,000. C brings ₹ 600,000 as his capital. Following tenns are agreed upon:
- Premises be depreciated by 10%.
- Accrued income of ₹ 15,000 is to be taken into account.
- Investments are to be increased by ₹ 2,00,000 and stock is to be increased to ₹ 2,00,000.
- A liability of ₹ 10,000 included in creditors is not likely to arise.
- There is an unrecorded asset worth ₹ 50,000.
Prepare the Revaluation A/c, Capital A/cs and the opening Balance Sheet. Also calculate the new profit sharing ratios.
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उत्तर
| Dr. | Revaluation Account | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Premises | 80,000 | By Investments | 2,00,000 | ||
| By Stock | 50,000 | ||||
| By Accrued Income | 15,000 | ||||
| By Creditors | 10,000 | ||||
| To Profit transferred: | 2,45,000 | By Unrecorded Asset | 50,000 | ||
| A | 1,47,000 | ||||
| B | 98,000 | ||||
| 3,25,000 | 3,25,000 | ||||
| Dr. | Partners’ Capital Accounts | Cr. | |||||
| Particulars | A (₹) | B (₹) | C (₹) | Particulars | A (₹) | B (₹) | C (₹) |
| To Advertisement Suspense (w/o) | 27,000 | 18,000 | By Balance b/d | 6,00,000 | 400,000 | ||
| To Balance c/d | 9,70,000 | 6,20,000 | 6,00,000 | By General Reserve | 90,000 | 60,000 | |
| By Revaluation A/c | 1,47,000 | 98,000 | |||||
| By Premium for Goodwill (Cash) | 1,60,000 | 80,000 | |||||
| By Bank | 6,00,000 | ||||||
| 9,97,000 | 6,38,000 | 6,00,000 | 9,97,000 | 6,38,000 | 6,00,000 | ||
| Opening Balance Sheet | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Creditors | 1,10,000 | Bank | 8,30,000 | ||
| Outstanding Expenses | 30,000 | Investments | 3,50,000 | ||
| Capital A/c: | 21,90,000 | Debtors | 1,25,000 | ||
| A | 9,70,000 | Stock | 2,00,000 | ||
| B | 6,20,000 | Premises | 7,20,000 | ||
| C | 6,00,000 | Accrued Income | 15,000 | ||
| Unrecorded Asset | 50,000 | ||||
| C’s Current A/c | 40,000 | ||||
| 23,30,000 | 23,30,000 | ||||
Calculate the new profit-sharing ratios:
A = `3/5 - 2/7`
= `(3 xx 7)/(5 xx 7) - (2 xx 5)/(7 xx 5)`
= `21/35 - 10/35`
= `(21 - 10)/35`
= `11/35`
B = `2/5 - 1/7`
= `(2 xx 7)/(5 xx 7) - (1 xx 5)/(7 xx 5)`
= `14/35 - 5/35`
= `(14 - 5)/35`
= `9/35`
C = `3/7`
= `(3 xx 5)/(7 xx 5)`
= `15/35`
New Ratio of A, B, and C = `11/35 : 9/35 : 15/35` or 11 : 9 : 15
Working Note:
Goodwill (premium) brought by C:
C’s share of goodwill (given) = ₹ 2,40,000
C actually brings ₹ 2,00,000, so shortfall = ₹ 40,000 (debit C’s Current A/c).
Compensation to sacrificing partners for full ₹ 2,40,000 in 2 : 1:
A = `2,40,000 xx 2/3`
= 1,60,000
B = `2,40,000 xx 1/3`
= 80,000
Premises be depreciated by 10%
= `8,00,000 xx 10/100`
= 80,000
General Reserve of ₹ 1,50,000 credited to A & B in the old ratio 3 : 2:
A: `1,50,000 xx 3/5`
= ₹ 90,000
B: `1,50,000 xx 2/5`
₹ 60,000
Write-off Advertisement Suspense ₹ 45,000 debit old partners 3 : 2:
A: `45,000 xx 3/5`
= ₹ 27,000
B: `45,000 xx 2/5`
₹ 18,000
