Chapter 4, Reconstitution of Partnership, (Retirement of Partner), Practical Problems, [Pages 183 – 186],

Shah, Lodha, and Dhole were partners sharing profits and losses in the ratio of 4:3:3. Their Balance Sheet as on 31st March 2019 is a given below. Practical Problems | Q 5 | Page 186 Retirement of Partner.

Balbharati solutions for Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board 

Chapter 4 Reconstitution of Partnership (Retirement of Partner) Practical Problems [Pages 183 – 186]

Practical Problems | Q 5 | Page 186

Shah, Lodha, and Dhole were partners sharing profits and losses in the ratio of 4:3:3. Their Balance Sheet as on 31st March 2019 is a given below.

2. Computers to be depreciated by 10%

3. Furniture to be revalued at ₹ 27,500

4. Vehicles appreciated by 20%

5. R.D.D. was no longer necessary

6. Shah and Dhole will share the future profits and losses in the ratio of 2:1

7. It was decided that goodwill should not appear in the books of a new firm and amount payable to Lodha is to be transferred to his Loan A/c

Prepare :

Profit and Loss adjustment A/c,

Partners capital accounts,

Balance sheet of new firm

Solution

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