help me please ????????
Solution:
Working note:
Provision for doubt ful debts appearing in the balance sheet is rs 4000. Whereas actual bad debts amounted to rs 9000. Therefore, rs 5000 will be debited to the revaluation account as loss.
2) sacrifice ratio = old ratio - new ratio
Working note:
Provision for doubt ful debts appearing in the balance sheet is rs 4000. Whereas actual bad debts amounted to rs 9000. Therefore, rs 5000 will be debited to the revaluation account as loss.
2) sacrifice ratio = old ratio - new ratio
Sumit = (3/6) - (1/3)
= (3 - 2)/6
= 1/6
Deepa = (2/6) - (1/3)
= (2 - 2)/6
= 0
Shubhu = (1/6) - (1/3)
= (1 - 2)/6
= -1/6
Shubhu is gaining .
2) entry for goodwill
Shubhu's capital A/c. Dr 50,000
To sumit's capital A/c. 50,000
= (3 - 2)/6
= 1/6
Deepa = (2/6) - (1/3)
= (2 - 2)/6
= 0
Shubhu = (1/6) - (1/3)
= (1 - 2)/6
= -1/6
Shubhu is gaining .
2) entry for goodwill
Shubhu's capital A/c. Dr 50,000
To sumit's capital A/c. 50,000
(3,00,000 x 1/6)=50,000
3) new capital required= 1,20,000 × (1/3) = 40,000
By each partner
3) new capital required= 1,20,000 × (1/3) = 40,000
By each partner