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Pass entries in the firm's Journal for t...

Pass entries in the firm's Journal for the following on admission of a partner: (i) Machinery be reduced by RS.16,000 and Building be apprecited by RS.40,000.
(ii) A provision be created for Doubtful Debts @ 5% of Debtors amounting to RS.80,000.
Provision for warranty claims be increased by RS.12,000.

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(i) (a) Dr. Revaluation A/c and Cr. Machinery A/c-RS.16,000.
(b) Dr. Building A/c and Cr. Revaluation A/c-RS.40,000.
(ii) Dr. Revaluation A/c and Cr.Provision for Dubtful Debts-RS.4,000.
(iii) Dr. Revaluation A/c and Cr. Provision for Warranty Claims A/c-RS.12,000.
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TS GREWAL-Admission of a Partner-EXERCISE
  1. E and F were partnres in a firm sharing profits in the ratio of 3 : 1....

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  2. Mr. A commenced business with a capital of RS.2,50,000 on 1st April, 2...

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  3. Pass entries in the firm's Journal for the following on admission of a...

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  4. Pass entries in firm's Journal for the following on admission of a par...

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  5. X and Y are partners in a firm sharing profits in the ratio of 3 : 2....

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  6. X and Y are partners in a firm sharing profits in the ratio of 3 : 2. ...

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  7. X and Y are partners sharing profits in the ratio of 3 : 2. They admit...

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  8. X and Y are partners in a shring profits in the ratio of 3 : 2. They ...

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  9. X, Y and Z are partners sharing profit and losses in the ratio of 6 :...

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  10. At the time of admission of a partner C assets and liabilities of A an...

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  11. X and Y are partners in a firm sharing profit and losses in the ratio ...

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  12. X and Y were partners in a firm sharing profits and losses in the rati...

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  13. (a) X, Y and Z are partners sharing profits and losses in the ratio of...

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  14. X, Y and Z are equal partners with capitals of RS.1,500, RS.1,750 and ...

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  15. A and B are carruying on business in partnership and sharing profits a...

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  16. Following was the Balance Sheet of A and B who were sharing profits in...

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  17. Given below is the Balance Sheet of A and B, who are carrying partners...

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  18. Balance Sheet of J and K who share profits in the ratio of 3 : 2 is as...

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  19. Balance Sheet of Madhu and Vidhi who are sharing in profits in the rat...

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  20. Shyamlal and Sanjay were in partnership business sharing profits and l...

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