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प्रश्न
Mohan and Sohan are in partnership sharing profits in the proportion of `3/5 and 2/5` respectively. The Balance Sheet is as follows:
| Liabilities | ₹ | ₹ | Assets | ₹ | ₹ |
| Capitals: | Cash | 65,000 | |||
| Mohan | 2,00,000 | Debtors | 1,00,000 | ||
| Sohan | 1,00,000 | 3,00,000 | Less: Provision | 40,000 | 60,000 |
| Creditors | 40,000 | Stock | 1,50,000 | ||
| Plant | 65,000 | ||||
| 3,40,000 | 3,40,000 |
They decide to admit Rohan to 1/3rd share on the terms that he is to pay into the business ₹ 1,00,000 as Goodwill and sufficient capital to give him 1/3rd share of the total capital of the new firm.
It was agreed that Provision for bad debts to be maintained @10% on debtors, that the stock be revalued at ₹ 2,00,000; and that the plant be reduced to ₹ 50,000.
Prepare necessary ledger accounts and show the balance sheet of the new partnership.
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उत्तर
| Revaluation Account | ||||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) |
| To Plant A/c (65,000 − 50,000) | 15,000 | By Provision for Bad Debts A/c (40,000 − 10,000) | 30,000 | |
| To Profit transferred to Capitals: | By Stock A/c (2,00,000 − 1,50,000) | 50,000 | ||
| Mohan's Capital (3/5): | 39,000 | |||
| Sohan's Capital (2/5): | 26,000 | 65,000 | ||
| Total | 80,000 | Total | 80,000 | |
| Partners' Capital Accounts | |||||||
| Particulars | Mohan (₹) | Sohan (₹) | Rohan (₹) | Particulars | Mohan (₹) | Sohan (₹) | Rohan (₹) |
| By Balance b/d | 2,00,000 | 1,00,000 | - | ||||
| By Revaluation Profit | 39,000 | 26,000 | - | ||||
| By Premium for Goodwill | 60,000 | 40,000 | - | ||||
| By Cash A/c (WN 1) | - | - | 2,32,500 | ||||
| To Balance c/d | 2,99,000 | 1,66,000 | 2,32,500 | ||||
| Total | 2,99,000 | 1,66,000 | 2,32,500 | Total | 2,99,000 | 1,66,000 | 2,32,500 |
| Balance Sheet of the New Firm | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Capital Accounts: | Cash (WN 2) | 3,97,500 | |||
| Mohan | 2,99,000 | Debtors | 1,00,000 | ||
| Sohan | 1,66,000 | Less: Provision | (10,000) | 90,000 | |
| Rohan | 2,32,500 | 6,97,500 | Stock | 2,00,000 | |
| Creditors | 40,000 | Plant | 50,000 | ||
| Total | 7,37,500 | Total | 7,37,500 | ||
Working Note:
1. Calculation of Rohan's Capital
Adjusted Capital of Mohan = ₹ 2,99,000
Adjusted Capital of Sohan = ₹ 1,66,000
Combined Capital of Old Partners (for `1 - 1/3 = 2/3` share) = 2,99,000 + 1,66,000 = 4,65,000
Total Capital of the Firm = `4,65,000 xx 3/2 = 6,97,500`
Rohan's Capital Share (`1/3`): `6,97,000 xx 1/3 = 2,32,500`
2. Calculation of Cash Balance
New Cash Balance = Opening Cash (65,000) + Goodwill Premium (1,00,000) + Rohan’s Capital (2,32,500) = 3,97,500
