Q67 (a) plz give answer today plz plzplzzzzz
Dear Student
Calculation of New ratio
Old ratio between Nem and Khem = 3:2.
Share of Prem = 1/3 or 5/15
Remaining share = 2/3.
New share of Nem =
New share of khem =
Therefore new ratio is 6:4:5.
Regards
Revaluation A/c | |||
Particulars | Amount | Particulars | Amount |
Plant and Machinery | 8,000 | Stock | 3,000 |
Provision for Bad Debt | 3,000 | Accrued Income | 900 |
Revaluation loss Transferred to | |||
Nem (7,100 x 3/5) | 4,260 | ||
Khem (7,100 x 2/5) | 2,840 | ||
11,000 | 11,000 |
Partners Capital A/c | |||||||
Particulars | Nem's Capital A/c | Khem's Capital A/c | Prem's Capital A/c | Particulars | Nem's Capital A/c | Khem's Capital A/c | Prem's Capital A/c |
Bal B/d | 50,000 | 40,000 | |||||
Cash A/c | 76,450 | ||||||
Revaluation A/c | 4,260 | 2,840 | Premium for Goodwill | 12,000 | 8,000 | ||
Reserve Fund | 30,000 | 20,000 | |||||
Bal C/d | 87,740 | 65,160 | 76,450 | ||||
92,000 | 68,000 | 76,450 | 92,000 | 68,000 | 76,450 |
Balancesheet | |||||
Liabilities | Amount | Assets Amount | |||
Plant and Machinery | 72,000 | ||||
Sundry Creditors | 40,000 | Stock | 38,000 | ||
Plant and Machinery | |||||
Capital account : | Sundry Debtors | 60,000 | |||
Less : Provision for Bad Debt | (3,000) | 57,000 | |||
Nem | 87,740 | Accrued Income | 900 | ||
Khem | 65,160 | Cash at bank | 101,450 | ||
Prem | 76,450 | 229,350 | |||
269,350 | 269,350 |
Working for Goodwill | ||
Prem's Share of Goodwill | 20000 | |
Sacrificing Ratio given | 3:2 | |
Goodwill adjusted | ||
Nem's Capital A/c | (20,000 x 3/5) | 12000 |
Khem's Capital A/c | (20,000 x 2/5) | 8000 |
Working for capital | ||
Combined Capital of Nem and Khem | (87,740 + 65,160) | 152900 |
Combined Share of Nem and Khem | 3:2 | |
Based on Above total capital of Firm | (1,52,900 x 3/2) | 229350 |
Capital of Prem | (2,29,350 x 1/3) | 76450 |
Calculation of New ratio
Old ratio between Nem and Khem = 3:2.
Share of Prem = 1/3 or 5/15
Remaining share = 2/3.
New share of Nem =
New share of khem =
Therefore new ratio is 6:4:5.
Regards