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Solution:
Dr. Partner’s Capital Account Cr.
Particular Makarand Mahesh Mangesh Particulars Makarand Mahesh Mangesh
(`) (`) (`) (`) (`) (`)
To Building 1,00,000 By Balance b/d 95,000 1,00,000
To Bank 10,000 10,000 By Bank A/c 1,00,000
To Balance C/d 13,400 1,15,600 1,00,000 By Goodwill A/c 20,000 20,000
By Revaluation 8,400 5,600
A/c (Profit)
1,23,400 1,25,600 1,00,000 1,23,400 1,25,600 1,00,000

Working Note:
Dr. Revaluation Account Cr.

Particulars Amt (`) Particulars Amt (`)
To Plant & Machinery 12,000 By Building 28,000
To RDD 2,000 (Taken by Makarand)
To Revaluation Profit transferred
to Partners Capital A/c
Makarand 8,400
Mahesh 5,600 14,000

28,000 28,000

5: The following is the Balance Sheet of Madhuri and Manisha sharing Profit and Losses in
the ratio of 3:2 as on 31 March, 2019
Balance Sheet As on 31 March 2019
st
Liabilities Amount (`) Assets Amount (`)
Capital Account 80,000 Building 72,000
Madhuri 1,00,000 Plant and Machinery 60,000
Manisha 60,000 Stock 48,000
Sundry Creditors 10,000 Debtors 42,000
Bills Payable Less : R.D.D. 2,000 40,000
Bank 20,000
Furniture 10,000

2,50,000 2,50,000

On 01/04/2019 Mohini is admitted on the following terms:
1 She is to pay ` 1,00,000 as her capital and ` 40,000 as her share of Goodwill.

2 The new profit sharing ratio is to be 5:3:2
3. The assets are to be revalued as under:
Building ` 1,00,000, Plant and Machinery ` 48,000

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