Question

[Ans. I and \( C \) are partners in a firm sharing profits in the ratio of \( 3: 2: 1 \). Their Balandt Sheet as at 31 st March, 2017 is as under : From int April, 2017, the partners agreed to share future profits in the ratio of 4:3:3 and make the following adjustments : (1) Rremives will be appreciated by \( 10 \% \) and stock by \( ? 10,000 \). (a) A provition for doubtful debts is to be made on debtors @ \( 4 \% \). (iif) Sandry Creditors be reduced by \( ? 15,000 \). (ov) Machinery will be depreciated by \( 5 \% \). (v) Coodwill of the firm is valued at \( ? 48,000 \).

          [Ans.

I and \( C \) are partners in a firm sharing profits in the ratio of \( 3: 2: 1 \). Their Balandt Sheet as at 31 st March, 2017 is as under :
From int April, 2017, the partners agreed to share future profits in the ratio of 4:3:3 and make the following adjustments :
(1) Rremives will be appreciated by \( 10 \% \) and stock by \( ? 10,000 \).
(a) A provition for doubtful debts is to be made on debtors @ \( 4 \% \).
(iif) Sandry Creditors be reduced by \( ? 15,000 \).
(ov) Machinery will be depreciated by \( 5 \% \).
(v) Coodwill of the firm is valued at \( ? 48,000 \).

[Ans.

I and C are partners in a firm sharing profits in the ratio of 3: 2: 1. Their Balandt Sheet as at 31 st March, 2017 is as under :
From int April, 2017, the partners agreed to share future profits in the ratio of 4:3:3 and make the following adjustments :
(1) Rremives will be appreciated by 10 % and stock by ? 10,000.
(a) A provition for doubtful debts is to be made on debtors @ 4 %.
(iif) Sandry Creditors be reduced by ? 15,000.
(ov) Machinery will be depreciated by 5 %.
(v) Coodwill of the firm is valued at ? 48,000.

Added by Abhayanshi T.

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