Ch- 4 Revaluation And Re-assessment |Solve Sum-7,9 & 12 With Journal |Basu & Dutta | Class 12

West bengal board class xii accountancy Basu and Dutta book solved sum 7 ,9 and 12 with full concept.unique , different and difficult sum solved.ch -4 Revaluation And Re-assessment ch solved.Everyone please like,share and subscribe it.

7. Following is the balance sheet of Sambhu, Gautam and Paresh who share profits in the ratio of 2:2:1.
Liabilities:
Capitals :
Sambhu ₹ 50,000
Gautam ₹ 50,000
Paresh ₹ 30,000
Reserves ₹ 60,000
Creditors ₹ 80,000
Assets:
Plant ₹ 80,000
Furniture ₹ 30,000
stock ₹ 65,000
Debtors ₹ 70,000
Bills receivable ₹ 18,000
Bank ₹ 7,000
They decided to share equally in future. They further agreed that:
(i) Plant to be valued at ₹ 75,000 and stock
₹ 72,000,
(ii) A provision for doubtful debt on debtors at 5% be created.
(iii) Creditors are estimated at ₹ 85,000 and goodwill of the firm is valued at ₹ 21,500.
They do not want to record goodwill and revise the value of assets and liabilities. They also do not wish to alter the reserves.
Pass a single entry to record the changes.

9. Tom and Peter are partners of a firm sharing profits and losses in the ratio of 5:3. Their balance sheet as on 31st March, 2017 was as under :
Liabilities:
Capital accounts:
Tom ₹ 40,000
Peter ₹ 30,000
General reserve ₹ 32,000
Assets:
Sundry assets ₹ 78,000
profit and loss account ₹ 24000
Harry joins on 1st April, 2017.
Pass Journal entries regarding accumulated profits and losses.


12. A firm has two partners A and B sharing profits in the ratio of 3 : 2. They admit C into the firm on
1st January, 2017. The capital accounts of A and B as on 31st December, 2016 were ₹ 30,000 and
₹ 10,000 respectively. C was to bring ₹ 20,000 as his capital for 1/3rd share in future profits of the firm. It was decided that capital of the partners shall be proportionate to their profit sharing ratio taking C's capital as base. Excess capital is to be withdrawn in cash by the partner concerned and the deficiency is to be made up by bringing in cash.

Prepare Partners' Capital Accounts sharing Cash to be brought in or excess Capital to be withdrawn. The name of the book is Graded Problems on Accountancy from which this class XII accountancy sums of West Bengal Board WBCHSE is taken. The writer of the book is Basu and Dutta of Rabindra Publication.
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