send mail to email@example.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
Please verify your mobile number
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Refer & Earn
My Abhipedia Earning
Kindly Login to view your earning
Type your modal answer and submitt for approval
Q96.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:
Capital's A/cs: L
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 at 1,80,000 and O brought his share of goodwill premium in cash. (iii) The market value of investments was 36,000.
Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the new firm.
By: Aman ProfileResourcesReport error
Access to prime resources