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Admission of a Partnerand B are partners in a business. The Balance sheet of the partners was asxfollows:LiabilitiesRs.Rs.AssetsCreditorsBills PayableProfit & Loss A/cCapital1,40,00060,0001,00,000GoodwillMotor CarStockDebtorsCash and Bank40,0001,60,0004,00,0003,60,00040,0004,00,0003,00,00010,00,00010,00,00046,00Cis admitted for th share on the following terms:(0) Goodwill is valued at Rs. 80,000 and 'C' can bring only Rs. 6000 cash for hisshare of goodwill.@ Cis to bring Rs. 1,50,000 as his capital(ii) Motor car is valued at Rs. 2,00,000; stock at Rs. 3,80,000; and debtors atRs. 3,50,000Pass Journal entries and prepare Revaluation account, capital accounts andBalance sheet after C amiccion |
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Answer» FIRST we ADD all the no.then SUBTRACT by Rs.3,50,000 and then divide7 .your and will CAME |
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