1.

Balance Sheet of Ram and Shyam who shares profits in proportion to their capitals as at 31st March, 2018 is: On 1st April, 2018 they admitted Arjun into partnership on the following terms: (a) Arjun to bring in ₹ 20,000 as capital and ₹ 6,600 for goodwill, which is to be left in the business and he is to receive 1/4th share of the profits. (b) Provision for Doubtful Debts is to be 2% on Debtors. (c) Value of Stock to be written down by 5%. (d) Freehold Premises are to be taken at valuation of ₹ 22,400; Plant and Machinery ₹ 11,800; Fixtures and Fittings ₹ 1,540 and Vehicles ₹ 800. You are required to make necessary adjustments entries in the firm, give Balance Sheet of the new firm as at 1st April, 2018 and also give’s the proportions in which the partners will share profits , there being no change in the proportions of Ram and Shyam.

Answer»

on for Doubtful Debts is to be 2% on Debtors.(c) Value of STOCK to be written down by 5%.(d) Freehold Premises are to be taken at VALUATION of ₹ 22,400; Plant and Machinery ₹ 11,800; Fixtures and FITTINGS ₹ 1,540 and Vehicles ₹ 800.YouHOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️❤️



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