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प्रश्न
Following is the Balance Sheet of A and B, who shared Profits and Losses in the ratio of 2 : 1, as at 1st April, 2019:
BALANCE SHEET OF A AND B
as on 1st April, 2019
| Liabilities | Amount (₹) |
Assets |
Amount (₹) |
|
| Capital A/cs: | Land ad Building | 2,90,000 | ||
| A | 3,00,000 | Furniture | 80,000 | |
| B | 2,00,000 | 5,00,000 | Stock | 2,40,000 |
| Reserve | 1,50,000 | Debtors | 1,50,000 | |
| Creditors | 2,00,000 | Bank | 60,000 | |
| Cash | 30,000 | |||
| 8,50,000 | 8,50,000 | |||
On the above date, the partners changed their profit-sharing ratio to 3 : 2. For this purpose, the goodwill of the firm was valued at ₹ 3,00,000. The partners also agreed for the following:
(a) The value of Land and Building will be ₹ 5,00,000;
(b) Reserve is to be maintained at ₹ 3,00,000.
(c) The total capital of the partners in the new firm will be ₹ 6,00,000, which will be shared by the partners in their new profit-sharing ratio.
Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the reconstituted firm.
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उत्तर
Revaluation Account
| Dr. |
Cr. |
|||
|
Particulars |
Amount (₹) |
Particulars |
Amount (₹) |
|
| Revaluation Profit |
|
Land and Building |
2,10,000 |
|
| A’s Capital A/c |
1,40,000 |
|
|
|
| B’s Capital A/c |
70,000 |
2,10,000 |
|
|
|
2,10,000 |
2,10,000 |
|||
Partners’ Capital Accounts
|
Particulars |
A |
B |
Particulars |
A |
B |
| Reserve |
1,80,000 |
1,20,000 |
Balance b/d |
3,00,000 |
2,00,000 |
| Cash A/c (bal.fig.) |
20,000 |
|
Reserve |
1,00,000 |
50,000 |
| A’s Capital |
|
20,000 |
B’s Capital A/c |
20,000 |
|
| Balance c/d |
3,60,000 |
2,40,000 |
Revaluation A/c |
1,40,000 |
70,000 |
|
|
|
Cash A/c (bal.fig.) |
60,000 |
||
|
5,60,000 |
3,80,000 |
5,60,000 |
3,80,000 |
Balance Sheet
|
Liabilities |
Amount (₹) |
Assets |
Amount (₹) |
|
| Capital A/c | Land and Building |
5,00,000 |
||
| A |
3,60,000 |
Furniture |
80,000 |
|
| B |
2,40,000 |
6,00,000 |
Stock |
2,40,000 |
| Reserve |
3,00,000 |
Debtors |
1,50,000 |
|
| Creditors |
2,00,000 |
Bank |
60,000 |
|
|
|
Cash (30,000 + 60,000 – 20,000) |
70,000 |
||
|
11,00,000 |
11,00,000 |
|||
Working Notes
WN1: Calculation of New Capital
WN2: Calculation of Gaining/Sacrificing Ratio& Adjustment for Goodwill
Adjustment for Goodwill
|
B’s Capital A/c |
Dr. |
20,000 |
|
|
To A’s Capital A/c |
20,000 |
||
|
(B will compensate A to the extent of his gain) |
