Nayana and Arushi were partners sharing profits equally Their Balance Sheet as on March 31, 2017...

Raghu and Rishu are partners sharing profits in the ratio 3:2. Their Balance Sheet as at 31st March, 2009 was as follows: Rishabh was admitted on that date for 1/4th share of profit on the following terms: (a) Rishabh will bringRs 50,000 as his share of capital. (b) Goodwill of the firm is valued atRs 42,000 and Rishabh will bring his share of goodwill in cash. (c) Buildings were appreciated by 20%. (d) All Debtors were good. (e) There was a liability ofRs 10,800 included in Creditors which was not likely to arise. (f) New profit-sharing ratio will be 2:1:1. (g) Capital of Raghu and Rishu will be adjusted on the basis of Rishabh's share of capital and any excess or deficiency will be made by withdrawing or bringing in cash by the concerned partners as the case may be. Prepare Revaluation Account, Partners' Capital Accounts and Balance Sheet of the new firm.

Digvijay, Brijesh and Parakaram were partners in a firm sharing profits in the ratio of 2 : 2 : 1 . Their Balance Sheet as on March 31, 2017 was as follows: Brijesh retired on March 31, 2017 on the following terms: (i) Goodwill of the firm was valued at Rs. 70,000 and was not to appear in the books. (ii) Bad debts amounting to Rs. 2,000 were to be written off. (iii) Patents were considered as valueless. Prepare Revaluation Account, Partners’ Capital Accounts and the Balance Sheet of Digvijay and Parakaram after Brijesh’s retirement.

The Balance Sheet of Mohit, Neeraj and Sohan who are partners in a firm sharing profits according to their capitals as on March 31, 2017 was as under: On that date, Neeraj decided to retire from the firm and was paid for his share in the firm subject to the following: 1. Buildings to be appreciated by 20%. 2. Provision for Bad debts to be increased to 15% on Debtors. 3. Machinery to be depreciated by 20%. 4. Goodwill of the firm is valued at Rs. 72,000 and the retiring partner’s share is adjusted through the capital accounts of remaining partners. 5. The capital of the new firm be fixed at Rs. 1,20,000. Prepare Revaluation Account, Capital Accounts of the partners, and the Balance Sheet after retirement of B.