Solve the question

Dear Student

 

Revalution A/c
Date	Particulars	Amount (in Rs)	Date	Particulars	Amount (in Rs)
	Claim for Workmen's Compensation	6,000		Investment Fluctuation Fund A/c	10,000
	Investment A/c	25,000		Provision for Bad and Doubt ful Debt A/c	1,000
				Capital A/c
				Lalit	10,000
				Madhur	6,000
				Neena	4,000
		31,000			31,000

 

Partner's Capital A/c
Particulars	Lalit's Capital A/c	Madhur's Capital A/c	Neena's Capital A/c	Particulars	Lalit's Capital A/c	Madhur's Capital A/c	Neena's Capital A/c
Goodwill A/c	10,000	6,000	4,000	Balance b/d	50,000	40,000	25,000
P/L A/c	5,000	3,000	2,000	Lalit's Capital A/c		10,929
Madhur's Capital A/c	10,929		4,371	Neena's Capital A/c		4,371
Cash A/c		10,300		Revaluation A/c	10,000	6,000	4,000
Madhur's Loan A/c		42,000
To Bal C/d	34,071	0	18,629
	60,000	61,300	29,000		60,000	61,300	29,000

Working for Goodwill
Gaining Ratio		5:2
Goodwill Adjustment
Total Value of Goodwill		51000
Madhur's share of Goodwill	(51,000 x 3/10)	15,300
Distribution in Gaining Ratio
TO Be Adjusted from Lalit's Capital A/c	(15,300 x 5/7)	10,929
TO Be Adjusted from Neena's Capital A/c	(15,300 x 2/7)	4,371

Note:- Solution is lengthy please ask for balance sheet in a different thread

Regards