Balance Sheet of Madhu and Vidhi who are sharing in profits in the ratio of 2 : 3 as at 31st March, 2016 is given below:
Madhu and Vidhi decided to admit Gayatri as a new partbner from 1st April, 2016 and their profit-sharing ratio will be 2 : 3 : 5. Gayatri brought RS.4,00,000 as her capital and her share of goodwill premium in cash. (a) Goodwill of the firm was valued at RS.3,00,000.
(b) Land and Building was found undervalued by RS.26,000.
(c) Provision for doubtful was to be made equal to 5% of the debtors.
(d) There was a claim of RS.6,000 on account of workmen compensation.
Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the reconstituted firm.

Balance Sheet of X and Y who share porfits and losses in the ratio of 3: 2 as at 31st March, 2019 was. They admit Z as a partner from 1st April, 2019 for 1/5th share in the profits of the firm. Z brings in RS 50,000 as his capital. Give Journal entry for the adjustment of goodwill.

A, B and C were partners in a firm sharing profits in the ratio of 3 : 2 : 1. On 31st March, 2015, their Balance Sheet was as follows: On the above date, D was admitted as a new partner and it was decided that : (i) The new profit-sharing ratio between A, B, C and D will be 2 : 2 : 1 :1. (ii) Goodwill of the firm was valued at RS.90,000 and D brought his share of goodwill premium in cash. (iii) The market value of investments was RS.24,000. (iv) Machinery will be reduced to RS.20,000. (v) A credior of RS.3,000 was not likely RS.29,000. (vi) D will bring proportionate capital so as to give him 1/6th share in the profits of the firm. Prepare Revaluation Account, Partner's Capital Accounts and the Balance Sheet of the reconstituted firm.

Aun and Bhagwan were partners in a firm sharing profits in the ratio 3 : 1. Goodwill appeared in the books at RS.4,40,000. Raja was admitted to the partnership. New profit-sharing ratio among Anu, Bhagwan and Raja was 2 : 2 : 1. Raja brought RS.1,00,000 for his capital and necessary cash for his goodwill premium. Goodwill of the firm was valued at RS.2,50,000. Record necessary Journal entries in the books of the firm for the above transactios.

A and B aer partners sharing profits and losses in the ratio of 3 : 2. On 31st March, 2019, their Balance Sheet was as follows: They admit C as a partnre with effect from 1st April, 2019, for 1/3rd share on the following terms: (i) C will bring in RS.5,00,000 as capital and RS.2,00,000 as his share of goodwill but he actually contributed only RS. 1,20,000 towards goodwill. (ii) Building and Machinery ot be depreciated by 5%. (iii) Stock to be revalued at RS. 4,00,000. (iv) There is an unrecorded asset worth RS.1,20,000. (v) One month salary of RS.30,000 is outstanding. Prepare Revaluation Account, Bank Account, Capital Accounts of Partners and the Balance Sheet after the admission of C.

L, M and N were partners in a firm sharing profits in the ratio of 3:2:1. Their Balance Sheet on 31st March, 2015 was as follows: On the above date, O was admitted as a new partner and it was decided that: (i) The new profit-sharing ratio between L, M, N and O will be 2:2:1:1. (ii) Goodwill of the firm was valued atRs 1,80,000 and O brought his share of goodwill premium in cash. (iii) The market value of investments wasRs 36,000. (iv) Machinery will be reduced toRs 58,000. (v) A creditor ofRs 6,000 was not likely to claim the amount and hence was to be written off. (vi) O will bring proportionate capital so as to give him 1/6th share in the profits of the firm. Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the new firm.