Page 167 - VIRANSH COACHING CLASSES

Solution :
In the Books of Partnership firm
Dr. Revaluation Account Cr.

Particulars Amount (`) Particulars Amount (`)
To Building 12,000 By Stock A/c 15,000
To R.D.D 1,200
To Profit on Revaluation
transferred to Capital A/c
Sahil 1350
Vikas 450 1,800

15,00 15,000

Dr. Partner’s Capital Accounts Cr.
Particulars Sahil Vanita Dinesh Particulars Sahil Vanita Dinesh
(`) (`) (`) (`) (`) (`)

To Balance c/d 1,18,350 84,450 60,000 By Balance b/d 90,000 75,000
By General Reserve A/c 4,500 1,500
By Cash A/c 60,000
By Goodwill A/c 22,500 7,500
By Revaluation A/c 1,350 450
(Profit)

1,18,35 84,450 60,000 1,18,350 84,450 60,000

M/s. Sahil, Vanita and Dinesh
Balance Sheet as on 1.4. 2019

Liabilities Amt (`) Amt (`) Assets Amt (`) Amt (`)
Capital A/c Building 90,000
Sahil 1,18,350 Less : Depreciation 12,000 78,000
Vanita 84,450 Stock 60,000
Vikas 60,000 2,62,800 Add : Appreciation 15,000 75,000
Sundry Creditors 31,500 Debtors 46,500
Less : R.D.D 1,200 45,300
Cash at Bank 96,000

2,94,300 2,94,300

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