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Balance Sheet of X and Y, who share profits and losses as 5 : 3 , as at 1st April, 2017 is : On the above date, they decided to change their profit-sharing ratio to 3 : 5 and agreed upon the following: (a) Goodwill be valued on the basis of two years purchase of the average profit of the last three years. Profits for 2014-15 : ₹ 7,500; 2015-16 : ₹ 4,000; 2016-17 : ₹ 6,500. (b) Machinery and Stock be revalued at ₹ 45,000 and ₹ 8,000 respectively. (c) Claim on account of workmen compensation is ₹ 6,000. Prepare Revaluation Account Partners Capital Accounts and the Balance Sheeet of the new firm.

Answer» TE YOUR ANSWER ISyears.Profits for 2014-15 : ₹ 7,500; 2015-16 : ₹ 4,000; 2016-17 : ₹ 6,500.(B)HOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️❤️FOLLOW ME


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