Liabilities Capital Alcs :AjinkaBumrahAmount AssetsAmountPlant & Machinery33,00035,000Furniture & Fixture15,00030,000 65,000 Investments20,000Stock23,00010,000 Debtors19,0009,000 Less : Provision 2,000 17,00036,000 Cash12,0001,20,0001,20,000General ReserveBank LoanCreditorsOn 1st April, 2019 they admitted Cheteswar for 25% share in profit on thefollowing terms :(1) Cheteswar brings in Capital proportionate to his share after all adjustmentand Rs. 4,000 for goodwill out of his share of Rs. 7,000.(ii) Depreciate Furniture by 10%.(iii) Half of investments was to be taken over by Ajinka and Bumrah in theirrofit sharing ratio and remaining valued of Rs. 13,000.(iv) New ratio will be 3: 3:2.Prepare Revaluation Account and Partner's Capital Account.

Liabilities Capital Alcs :AjinkaBumrahAmount AssetsAmountPlant & Mac

1.	Liabilities Capital Alcs :AjinkaBumrahAmount AssetsAmountPlant & Machinery33,00035,000Furniture & Fixture15,00030,000 65,000 Investments20,000Stock23,00010,000 Debtors19,0009,000 Less : Provision 2,000 17,00036,000 Cash12,0001,20,0001,20,000General ReserveBank LoanCreditorsOn 1st April, 2019 they admitted Cheteswar for 25% share in profit on thefollowing terms :(1) Cheteswar brings in Capital proportionate to his share after all adjustmentand Rs. 4,000 for goodwill out of his share of Rs. 7,000.(ii) Depreciate Furniture by 10%.(iii) Half of investments was to be taken over by Ajinka and Bumrah in theirrofit sharing ratio and remaining valued of Rs. 13,000.(iv) New ratio will be 3: 3:2.Prepare Revaluation Account and Partner's Capital Account.
Answer» AJINKA BUMRAH AMOUNT Assets Amount Plant & Machinery ... 30,000 65,000 INVESTMENTS 20,000. Stock 23,000 10,000 Debtors 19,000 9,000 Less : Provision 2,000

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