Dear Student, Revaluation A/c Date Particulars Amount (in Rs) Date Particulars Amount (in Rs) Mar 31 2013 Furniture A/c (48,000*5%) 2,400 Mar 31 2013 Prepaid Insurance A/c 2,000 Machinery A/c (2,48,000*5%) 12,400 Revaluation Loss transferred to Provision for doubtful debts 4,000 -- X's Capital A/c 8,400 (70,000*20%-10,000) -- Y's Capital A/c 5,600 -- Z's Capital A/c 2,800 18,800 18,800 Partners Capital A/c Date Particulars X's Capital A/c Y's Capital A/c Z's Capital A/c Date Particulars X's Capital A/c Y's Capital A/c Z's Capital A/c Mar 31 2013 Goodwill A/c 12,000 8,000 4,000 Mar 31 2013 Balance b/d 140,000 160,000 100,000 Revaluation A/c 8,400 5,600 2,800 General Reserve A/c 9,000 6,000 3,000 Y's Capital A/c 22,500 7,500 X's Capital A/c 22,500 Bank A/c 36,747 Z's Capital A/c 7,500 Y's Loan A/c 146,987 Investment Fluctuation Fund A/c 2,000 1,333 667 Bank A/c 29,367 Bank A/c 71,900 Balance c/d 180,000 60,000 222,900 197,333 103,667 222,900 197,333 103,667 Balance Sheet Liabilities Amount (in Rs) Assets Amount (in Rs) Bills Payable 90,000 Cash at Bank 49,787 Creditors 36,000 Debtors 70,000 Capital A/c Less: 14,000 56,000 X's Capital A/c 180,000 Stock 80,000 Z's Capital A/c 60,000 Investments 44,000 Y's Loan A/c 146,987 Furniture 45,600 Machinery 235,600 Prepaid Insurance 2,000 512,987 512,987 Old Goodwill to be debited to Partners A/c in old ratio; New goodwill to be credited to Y's A/c in sacrificing ratio; Regards,

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Solve this: Ale, X. Y ,cfZ are panners.haring profits and Fluctuation Fund On that: investments (i) the will valued 01' Vlachinery and Furniture bc depreciated Pv-.'i,sion tor doubtful debts to be maintained at h, Sundry Debtors _ paid. premiums amounting extent to he treated •as prepaid I Account. Necessary adjustments to he made in and the balance will be transferred to his o: the A c. Partners • Accounts Balance Sheet of X and Z after Y's retirement. . each issued at a premium of R 20 per

Dear Student,

Revaluation A/c
Date	Particulars	Amount (in Rs)	Date	Particulars	Amount (in Rs)
Mar 31. 2013	Furniture A/c (48,000*5%)	2,400	Mar 31. 2013	Prepaid Insurance A/c	2,000
	Machinery A/c (2,48,000*5%)	12,400		Revaluation Loss transferred to
	Provision for doubtful debts	4,000		-- X's Capital A/c	8,400
	(70,000*20%-10,000)			-- Y's Capital A/c	5,600
				-- Z's Capital A/c	2,800

		18,800			18,800

Partners Capital A/c
Date	Particulars	X's Capital A/c	Y's Capital A/c	Z's Capital A/c	Date	Particulars	X's Capital A/c	Y's Capital A/c	Z's Capital A/c
Mar 31. 2013	Goodwill A/c	12,000	8,000	4,000	Mar 31. 2013	Balance b/d	140,000	160,000	100,000
	Revaluation A/c	8,400	5,600	2,800		General Reserve A/c	9,000	6,000	3,000
	Y's Capital A/c	22,500		7,500		X's Capital A/c		22,500
	Bank A/c		36,747			Z's Capital A/c		7,500
	Y's Loan A/c		146,987			Investment Fluctuation Fund A/c	2,000	1,333	667
	Bank A/c			29,367		Bank A/c	71,900
	Balance c/d	180,000		60,000
		222,900	197,333	103,667			222,900	197,333	103,667

Balance Sheet
Liabilities	Amount (in Rs)	Assets	Amount (in Rs)
Bills Payable	90,000	Cash at Bank	49,787
Creditors	36,000	Debtors 70,000
Capital A/c		Less: 14,000	56,000
X's Capital A/c	180,000	Stock	80,000
Z's Capital A/c	60,000	Investments	44,000
Y's Loan A/c	146,987	Furniture	45,600
		Machinery	235,600
		Prepaid Insurance	2,000

	512,987		512,987

Old Goodwill to be debited to Partners A/c in old ratio;
New goodwill to be credited to Y's A/c in sacrificing ratio;

Regards,

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