Please answer this ques

Please answer this ques 12-03-2

Dear Student
 

Revalution A/c
Date	Particulars	Amount (in Rs)	Date	Particulars	Amount (in Rs)
	Workmen Compensation liability	20,000		Cretitors A/c	15,000
	Provision for Doubtful Debt	5,000
				Capital A/c (10,000 in 1:1)
				A	5,000
				B	5,000
		25,000			25,000

 

Partner's Capital A/c
Particulars	A	B	C	Particulars	A	B	C
Revaluation A/c	5,000	5,000		Balance b/d	300,000	200,000
				Cash A/c			250,000
				Current A/c	80,000	60,000
Bal C/d	375,000	255,000	250,000
	380,000	260,000	250,000		380,000	260,000	250,000

 

Balance sheet
Liabilities		Amount (in Rs)	Assets		Amount (in Rs)
Creditors		205,000	Bank		450,000
Workmen Compensation liability		20,000	Debtors	150,000
Bills Payable		140,000	Less : Provision for Doubtful Debt	15,000	135,000
A's Loan A/c		100,000	Land		300,000
			Plant		200,000
			Furniture		50,000
Capital			Stock		150,000
A		375,000	Bills Receivable		60,000
B		255,000
C		250,000
		1,345,000			1,345,000

Note: 1. It has been assumed that Rs 40,000/- bills which were accepted from creditors and were not recorded in the books were included in the creditors, therefore Rs 40,000/- shall be added to the Bills payable and Rs 40,000/- shall be deducted from Creditors.

2. Old Ratio between A and B is 1:1. 


Regards