Please solve Q35. 2.72
CHANGE IN PROFJT SHARING RATIO AMONG THE
Prepare Revaluation Account, partner's Capital Accounts and
tir reconstituted firm.
(Ans. Profit on Revaluation 06.000; Balance of Capital Accoums
B and C Balance Sheet Total
Hin' : A B Sxntices C gains —th •ture
Q AS. T. U aml V were partrrrs in a firm sharing EYOfits in
4 : : l. On 14-2016 their Balance Sheet was as follows :
BALANCE SHEET OF S T. V AND V
l.so.ooo
so.ooo
Suüy
Workmen CornJgnsation Reserve
as al 1-4-2016
Fixed Assets
Current Assets
60.000'
From the date partners deci'kd to share the future profits irv3 : I 2 • 4 «i0
For this purv»sc the gocdwill of the firm was valued at 00.000, The
weed for the following :
(i) claim for workmen cornt*nsation has estimated at
(ii) To adjust the capitals of the partners Ecording to new profit sharing ratio
partners current accoums
Prepare Revalution Account. Partners • Capital Accounts Balance
the reconstituted firm.
(C.B.S.E 2017,
[Ans. Loss on Revaluation e 10,000;
capital A,'cs : S T U 08.000: V 196.000;
Current : S (Cr.) ?58.000; r (Cr.) 0.16.000; v (Dr.) WS Toul
Q. 36. p. Q and R were partners sharing profits in ratio of I : 3 : 2. Following
was their Balance Sheet as at 31st March. 2018
