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- 1
Revaluation A/C
fixed asset- 5000 debtors- 1000
investment-2000 accrued income-1800
o/s expenses- 600 loss on revaluation
A: 2400
B: 1600
C: 800
TOTAL- 7600 7600
WORKING NOTE-
C's godwill- 9000 multiply by 1/6 = 1500
divide 1500 acc.to gaining ratio of A B i.e. 3 : 2
PL A/C- 15000 = A : 7500
B : 5000
C : 2500
partner 's capital A/C
A B C A B C
to revaluation[ loss] 2400 1600 800 by balance b/d 45000 30000 15000
to loan a/c 18200 by A's capital 900
to C 's capital 900 600 by B 's capital 600
to balance c/d 49200 32800 by pl a/c 7500 5000 2500
TOTAL 52500 35000 19000 52500 35000 19000
BALANCE SHEET
creditors 20000 bank balance 16000
o/s expenses 2600 stock 35000
C 's loan a/c 18000 investments 10000
capital a/c fixed assets 45000
A : 49200 accrued income 1800
B : 32800 sundry debtors 15000
TOTAL 122800 122800
- -4
Revaluation A/C
1 fixed asset- 5000 debtors- 1000
2 investment-2000 accrued income-1800
3 o/s expenses- 600 loss on revaluation
A: 2400
B: 1600
C: 800
TOTAL- 7600 7600
WORKING NOTE-
C's godwill- 9000 multiply by 1/6 = 1500
divide 1500 acc.to gaining ratio of A B i.e. 3 : 2
PL A/C- 15000 = A : 7500
B : 5000
C : 2500
partner 's capital A/C
A B C A B C
to revaluation[ loss] 2400 1600 800 by balance b/d 45000 30000 15000
to loan a/c 18200 by A's capital 900
to C 's capital 900 600 by B 's capital 600
to balance c/d 49200 32800 by pl a/c 7500 5000 2500
TOTAL 52500 35000 19000 52500 35000 19000
BALANCE SHEET
creditors 20000 bank balance 16000
o/s expenses 2600 stock 35000
C 's loan a/c 18000 investments 10000
capital a/c fixed assets 45000
A : 49200 accrued income 1800
B : 32800 sundry debtors 15000
TOTAL : 122800 122800
- 1