Question - 43 (A, B and C)

'X', 'Y' and 'Z' are partners on 31st March, 2008 their balance sheet was as follows:
                     Balance Sheet 
            As at 31st March 2008
Liabilities                                     Amount 
Creditors                                         3,000
Capital A/c 
'X'              2,000
'Y'              1,700            
'Z'              1,500                            5,250
                                                       8,250
Assets                                          Amount
Machinery                                      1,200
Furniture                                           400
Stock                                              2,650
Debtors                                          3,750
Cash                                                  220
                                                       8,520
On 1st April 2008 they agree to give admission to A in equal partnership on the following terms He is bring in Rs. 1,500 as goodwill and Rs. 1,800 as capital in cash mahinery and furniture are to be valued at Rs. 950 and Rs. 380 and Depreciation be written off value of stock is to be increased by Rs. 450.
Prepare Revaluation A/c and give partners capital Account.

(B)

'X', and 'Y' were partners in ratio of 3:1their balance sheet on 31st December, 2014  was as follows:
Liabilities                                     Amount 
Creditors                                        10,000
Capital A/c 
'X'              30,000
'Y'              10,000                          40,000
B/P                                                 12,000
                                                       62,000
Assets                                          Amount
Building                                                 24,000
Furniture                                          2,000
Stock                                              20,000
Debtors                                          16,000
                                                       62,000
They admitted Z on 1st January 2015 on the following conditions:
  1. Z should bring Rs. 10,000 as capital.
  2. Z should bring for 1/5th share of goodwill Rs. 8,000.
  3. Reduce furniture and stock at 10%.
  4. Reserve for Bad debts at 5%.
  5. Increase building by 20%.
Prepare Revaluation account and partners capital account.

(C)

Balance sheet of X and Y.
Liabilities                                     Amount 
Creditors                                        20,000
Capital A/c 
'X'              15,000
'Y'              10,000                          25,000
B/P                                                 10,000
Genral Reserve                                6,000
                                                       61,000
Assets                                          Amount
Building                                                 27,000
Furniture                                          4,000
Bank                                               20,000
Debtors                                          10,000
                                                       61,000
They admitted Z into partnership on the following conditions:
  1. A goodwill account to be raised in the books for Rs. 10,000.
  2. Furniture and building to be depreciated by 5%.
  3. Reserve of 5% on Debtors to be created.
  4. Capital account of all the partners be adjusted on the basis of profit and loss ratio.
  5. Z brings Rs. 12,000 as capital and gets 1/4 share in future profits.
Prepare Revaluation account.

NOTE : Please purchase the book for looking question.