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Ananya
Subject: Accountancy
, asked 6 days, 3 hours ago
A, B and Care in partnership sharing profits in the ratio of 3: 2:1. On 28th 2017 C retires from the firm. Their Balance Sheet as at that date was as
February.
follows:
Assets
Sundry Creditors 1,20,000
Outstanding Expenses 10,000
PRofit & Loss Account 1,50,000
Capital Accounts:
A 500000
B 300000
C 200000= 1000000
Total
12,80,000
Liabilities:
Stock: 2,50,000
Investments: 3,00,000
Fixed Assets: 5,40,000
Bank: 25,000
Debtors:1,65,000
Total
12,80,000
The following was agreed upon:
(1) Goodwill of the firm is valued at 1,50,000. C sells his share of goodwill to A and B in the ratio of 4: 1.
(ii) Stock is revalued at 3,00,000 and debtors are revalued at 1,50,000.
(iii) Outstanding expenses be brought down to 3,000.
(iv) Investments are sold at a loss of 10%.
(v) C is paid off in full.
Prepare Revaluation Account, Capital Accounts and the Balance Sheet of the new firm.
Answer
1
Yash Sinha
Subject: Accountancy
, asked 6 days, 5 hours ago
Solve this sum and show all workings clearly
Answer
1
Yash Sinha
Subject: Accountancy
, asked 6 days, 6 hours ago
Experts solve this sum and show all workings clearly
Answer
1
Chandni Arya
Subject: Accountancy
, asked 6 days, 22 hours ago
Interest on investment is accrued for five months. What amount we're gonna write in income and expenditure a/c and why? And aslo pls explain the point properly
Answer
2
Divyanshi
Subject: Applied Mathematics
, asked 6 days, 23 hours ago
Why cant the answer be D? A makes sense cause both sides are equal but arent both the sides of equation D equal as well?
Answer
1
Chandni Arya
Subject: Accountancy
, asked 1 week ago
(b) ?1,000 for salaries is outstanding.
(c) Building stands in the books at ?50,000 and it is required to write off depriciation at 5% p.a.
(d) Interest on investments is accrued for 5 months.
Answer - excess of income over expenditure ?21,150 ? How. Pls help me in making income and expenditure a/c
Answer
1
Anshika Singh
Subject: Accountancy
, asked 1 week ago
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Answer
1
Anshika Singh
Subject: Accountancy
, asked 1 week ago
Please solve this question of NPO chapter
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Yash Sinha
Subject: Economics
, asked 1 week ago
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Answer
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Akhilesh Kumar
Subject: Applied Mathematics
, asked 1 week ago
Solve this question...
Answer
1
Akhilesh Kumar
Subject: Applied Mathematics
, asked 1 week ago
Solve this question..
Answer
1
Akhilesh Kumar
Subject: Applied Mathematics
, asked 1 week ago
Solve this question quickly.
Answer
1
Yash Sinha
Subject: Maths
, asked 1 week ago
int e^(x)(a+be^(x))^(6)dx Experts solve it fast
Answer
1
Yash Sinha
Subject: Maths
, asked 1 week ago
Solve it experts fast
Answer
1
Akhilesh Kumar
Subject: Applied Mathematics
, asked 1 week, 1 day ago
Solve this question.
Answer
2
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What are you looking for?

February.

follows:

Assets

Sundry Creditors 1,20,000

Outstanding Expenses 10,000

PRofit & Loss Account 1,50,000

Capital Accounts:

A 500000

B 300000

C 200000= 1000000

Total

12,80,000

Liabilities:

Stock: 2,50,000

Investments: 3,00,000

Fixed Assets: 5,40,000

Bank: 25,000

Debtors:1,65,000

Total

12,80,000

The following was agreed upon:

(1) Goodwill of the firm is valued at 1,50,000. C sells his share of goodwill to A and B in the ratio of 4: 1.

(ii) Stock is revalued at 3,00,000 and debtors are revalued at 1,50,000.

(iii) Outstanding expenses be brought down to 3,000.

(iv) Investments are sold at a loss of 10%.

(v) C is paid off in full.

Prepare Revaluation Account, Capital Accounts and the Balance Sheet of the new firm.

(c) Building stands in the books at ?50,000 and it is required to write off depriciation at 5% p.a.

(d) Interest on investments is accrued for 5 months.

Answer - excess of income over expenditure ?21,150 ? How. Pls help me in making income and expenditure a/c