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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

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