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प्रश्न
Aryan and Adya were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet on 31st March, 2024, was as follows:
| Balance Sheet of Aryan and Adya as at 31st March 2024 |
|||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Capitals: | 5,60,000 | Machinery | 3,90,000 | ||
| Aryan | 3,20,000 | Furniture | 80,000 | ||
| Adya | 2,40,000 | Debtors | 90,000 | 89,000 | |
| Workmen’s Compensation Reserve | 20,000 | Less: Provision for Doubtful Debts | 1,000 | ||
| Bank Loan | 60,000 | Stock | 77,000 | ||
| Creditors | 48,000 | Cash | 32,000 | ||
| Profit & Loss Account | 20,000 | ||||
| 6,88,000 | 6,88,000 | ||||
Dev was admitted into the firm on 1st April, 2024 for 1/5th share in the profits of the firm on the following terms:
- Dev will bring capital proportionate to his share in the profits of the firm.
- Goodwill of the firm was valued at ₹ 2,00,000, and Dev will bring his share of goodwill premium in cash.
- Machinery was revalued at ₹ 4,50,000.
- A provision for doubtful debts was to be created at 5% on debtors.
- A liability of ₹ 3,500 included in creditors was not likely to arise.
Prepare Revaluation Account and Partners’ Capital Accounts on Dev’s admission.
खाता बही
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उत्तर
| Dr. | Revolution Account as at 31st March 2024 |
Cr. | ||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) |
| To Provision for Doubtful Debts A/c | 3,500 | By Machinery A/c | 60,000 | |
| To Profit transferred to Capital A/c of: | 60,000 | By Creditors A/c | 3,500 | |
| Aryan | 45,000 | |||
| Adya | 15,000 | |||
| 63,500 | 63,500 | |||
| Dr. | Partners’ Capital Accounts | Cr. | |||||
| Particulars | Aryan (₹) | Adya (₹) | Dev (₹) | Particulars | Aryan (₹) | Adya (₹) | Dev (₹) |
| To Profit & Loss A/c | 15,000 | 5,000 | By Balance b/d | 3,20,000 | 2,40,000 | ||
| To Balance c/d | 3,95,000 | 2,65,000 | 1,62,500 | By Revaluation A/c | 45,000 | 15,000 | |
| By Workmen’s Compensation Reserve A/c | 15,000 | 5,000 | |||||
| By Premium for Goodwill A/с | 30,000 | 10,000 | |||||
| By Bank A/с | 1,62,000 | ||||||
| 4,10,000 | 2,70,000 | 1,62,000 | 4,10,000 | 2,70,000 | 1,62,000 | ||
Working Note:
Adjusted combined capital of old partners = ₹ 3,95,000 + ₹ 2,65,000
= ₹ 6,60,000
Total capital of New Firm = `"Adjusted combined capital of old partners"/"combined share of profit of old partners"`
= `6,60,000 xx 5/4`
= ₹ 8,25,000
Dev’s proportionate Capital = `8,25,000 xx 1/5`
= 1,65,000
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