Can u please help me solve this? 1 L Heaven and Hell are
Liabilities
Creditors
itals:
Heaven
Hell
whose balance sheet was as below on 31.03201 S
Amount
O, 000
4,000
40.000
20,000
84 000
Assets
Cash in bank
Debtors
Less: RBD
Furni ture
Plant and ma
Patents
Stock
Amount
7 000
16,000
On 1.4.201.S they admitted Earth into partnership on following terms:
He should bring Rs. 13,000 as capital
Goodwill of the firm valued at Rs. 7,000
Stock and land are to be raised hy 8%
RBD to be increased by Rs. I ,200
Patents and machinery to bé reduced by 200/0 and Rs. 2000 respectively
That the capital accounts of all the partners to be adjusted in their new
Prepare Revaluation a'c, partners capital a/c, Bank a/c & New Balance
15,500
4,500
18 ooo
20.000
15,000
84/)00
ratio wh
