Please help urgent .(7) A was allowed a remuneration of (10,000 to carry out dissolut'Ä'ork and he agreed
to bear all expenses of realisastion which mnountc•d to 1 Md were paid by him.
Prepare necessary accounts.
8
OR
A. B and C are partners sharing profits and losses in the ratio of 5 : 4 3. Their Balance
Sheet as at 31st March, 2016, stood as follows :
.oo:ono
From April 1st 20 6, the partners decide to share profits and losses in the ratio * •
fec this they decided that :
(Ö Buiiding is to valued at and Plant and Machine:y is {o be by
I OYO.
(ii) Provision be created for doubtful debts at
(iii) Stock is to be valued at 120%.
(iv) Outstanding expenses amotlnting to t 12,000 should be recorded.
Goodwill of the firm was valued at
Partners decide not to disturb the reserves. However, they decide to record the revised
values of assets and liabilities in the books of Accounts.
You are required to prepare :
(1) Revaluation Account,
Partners' Capital Accounts, and
(it) Balance Sheet of the re-constituted firm.
Part
Financial Statenteiit
