14. Vinod. Ayush and pukhraj were partners in a firm sharing profits in the ratio 1:2:3. 
Their Balance Sheet as on 31.3.2015 was as follows. 

All partners have decided that reconstitutions of partnership is to be done with effect from 1st april
. For this it was agreed that 
(a) Creditors of Rs.12.000 were not likely to be claimed and hence written off
(b) Goodwill of the firm be valued at Rs 3.00,000. 
(e) Land be revalued at Rs. 1.60.000 and building be depreciated by 6%. 
Prepare Revaluation Account. Partners Capital Account and new Balance Sheet. 

Dear Student


Q.13

 
Realisation A/c
Date Particulars   Amount (in Rs) Date   Particulars   Amount (in Rs)
  Investment A/c   16,000   Creditors A/c   50,400
  Stock A/c   20,100   Investment Fluctuation Fund A/c   10,000
  Debtors A/c   62,600   Vinod's Capital A/c (Investment Taken over)   18,000
  Furniture A/c   20,000   Divji's Capital A/c (Stock Taken over)   17,500
  Bank A/c (Creditors)   50,400   Siddharth's Capital A/c (Furniture Taken over)   20,000
  Bank A/c (Realisation Expenses)   4,500   Bank A/c   60,500
               
               
  Capital A/c's            
  Vinod 1,400          
  Divji 933          
  Siddharth 467 2,800        
               
               
               
               
      176,400       176,400


 
Partner's Capital A/c
Particulars Vinod’s Capital A/c Divij’s Capital A/c Siddharth’s Capital A/c Particulars Vinod’s Capital A/c Divij’s Capital A/c Siddharth’s Capital A/c
Realisation A/c 18,000     Balance b/d 30,000 20,000 10,000
Realisation A/c (Stock)   17,500   Reserve Fund 6,000 4,000 2,000
Realisation A/c (Furniture)     20,000 Bank A/c     7,533
Bank 19,400 7,433   Realisation A/c (Profit) 1,400 933 467
               
  37,400 24,933 20,000   37,400 24,933 20,000

Please note that siddharth has taken over more amount in furniture then his share so he would bring the difference in cash .
 
Bank A/c
Date Particulars   Amount (in Rs) Date   Particulars   Amount (in Rs)
  Bal B/d   13,700   Realisation A/c (Creditors)   50,400
  Realisation A/c ( Debtors)   60,500   Realisation A/c (Expenses)   4,500
  Siddharth's Capital a/c   7,533        
          By Capital A/c's    
          Vinod 19,400  
          Divji's 7,433  
          Siddharth 0 26,833
               
               
      81,733       81,733


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