share of goodwill = 1,00,000 X 1/5 = Rs. 20,000 C‟s Capital A/c .DR. 20000 C‟s To Capital A/c 12000 A‟s To Capital A/c 8000 B‟s Ans.5. REVALUATION ACCOUNT DR CR PARTICULAR AMOUNT(RS) PARTICULAR AMOUNT(RS) MACHINE 2,000 BUILDING 5,000 PRO.FOR B.D.D 800 PARTNERS CAPITAL; X-1650 Y -550 2200 5,000 5,000 CAPITAL ADJUSTMENT; Z BRINGS 20,000 FOR 1//4 SHARE THEREFORE TOTAL CAPITAL=20,000X4=80,000 LESS; X CAPITAL 20,000 COMBINED CAPITAL 60,000 X CAPITAL=60,000X3/4=45,000 Y CAPITAL=60,000X1/4=15,000 CAPITAL A/C PARTICULAR X Y Z PARTICULAR X Y Z BALANCE B/D CASH GEN,RES. 9,000 3,000 REVALUATION 1650 550 current a/c 4850 50 PREMIUM 4,500 1,500 BALANCE C/D 15,000 15,050 15050 BALANCESHEET LIABILITIES AMOUNT ASSETS AMOUNT CREDITORS 18,000 CASH 31,000 B/P 10,000 DEBTORS;16,000
C‟s share of goodwill = 1,00,000 X 1/5 = Rs. 20,000 C‟s Capital A/c .DR. 20000 To A‟s Capital A/c 12000 To B‟s Capital A/c 8000 Ans.5. REVALUATION ACCOUNT DR CR PARTICULAR AMOUNT(RS) PARTICULAR AMOUNT(RS) MACHINE 2,000 BUILDING 5,000 PRO.FOR B.D.D 800 PARTNERS CAPITAL; X-1650 Y -550 2200 5,000 5,000 CAPITAL ADJUSTMENT; Z BRINGS 20,000 FOR 1//4 SHARE THEREFORE TOTAL CAPITAL=20,000X4=80,000 LESS; X CAPITAL 20,000 COMBINED CAPITAL 60,000 X CAPITAL=60,000X3/4=45,000 Y CAPITAL=60,000X1/4=15,000 CAPITAL A/C PARTICULAR X Y Z PARTICULAR X Y Z BALANCE B/D CASH GEN,RES. 9,000 3,000 REVALUATION 1650 550 current a/c 4850 50 PREMIUM 4,500 1,500 BALANCE C/D 15,000 15,050 15050 BALANCESHEET LIABILITIES AMOUNT ASSETS AMOUNT CREDITORS 18,000 CASH 31,000 B/P 10,000 DEBTORS;16,000
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