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प्रश्न
Shah, Lodha, and Dhole were partners sharing profits and losses in the ratio of 4:3:3. Their Balance Sheet as on 31st March 2019 is a given below.
| Balance Sheet as on 31st March, 2019 | |||||||
| Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ | ||
| Sundry Creditors | 20,000 | Cash | 9,000 | ||||
| Bills payable | 4,000 | Sundry Debtors | 10,000 | ||||
| Capital Account: | (−) R.D.D. | 1,000 | 9,000 | ||||
| Shah | 45,000 | Furniture | 25,000 | ||||
| Lodha | 35,000 | Computers | 43,000 | ||||
| Dhole | 27,000 | Vehicles | 45,000 | ||||
| 1,31,000 | 1,31,000 | ||||||
On 1st April 2019, Mr. Lodha retired from the firm on the following terms.
1. Goodwill is to be valued at average Profits and Losses of the last five years which were as follows.
| Years | Profit/Loss |
| 2015 | ₹ 35,000 |
| 2016 | ₹ 20,000 |
| 2017 | ₹ 30,000 |
| 2018 | ₹ 20,000 |
| 2019 | ₹ 25,000 |
2. Computers to be depreciated by 10%
3. Furniture to be revalued at ₹ 27,500
4. Vehicles appreciated by 20%
5. R.D.D. was no longer necessary
6. Shah and Dhole will share the future profits and losses in the ratio of 2:1
7. It was decided that goodwill should not appear in the books of a new firm and amount payable to Lodha is to be transferred to his Loan A/c
Prepare: Profit and Loss adjustment A/c, Partners capital accounts, Balance sheet of new firm.
उत्तर
In the books of Partnership Firm
| Dr. | Profit and Loss Adjustment Account | Cr. | ||||||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) | |||
| To Computers A/c | 4,300 | By Furniture A/c | 2,500 | |||||
| To Partners’ Capital A/cs: Profit | By Vehicles A/c | 9,000 | ||||||
| Shah | 3,280 | By R.D.D. A/c | 1,000 | |||||
| Lodha | 2,460 | |||||||
| Dhole | 2,460 | 8,200 | ||||||
| 12,500 | 12,500 | |||||||
| Dr. | Partner’s Capital Account | Cr. | |||||
| Particulars | Shah (₹) | Lodha (₹) | Dhole (₹) | Particulars | Shah (₹) | Lodha (₹) | Dhole (₹) |
| To Goodwill A/c | 17,333 | - | 8,667 | By Balance b/d | 45,000 | 35,000 | 27,000 |
| To Balance c/d | 41,347 | - | 28,593 | By Profit and Loss Adjustment A/c (Profit) | 3,280 | 2,460 | 2,460 |
| To Lodha’s Loan A/c | - | 45,260 | - | By Goodwill A/c | 10,400 | 7,800 | 7,800 |
| 58,680 | 45,260 | 37,260 | 58,680 | 45,260 | 37,260 | ||
| Balance Sheet as on 1st April 2019 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Asset | Amount (₹) | Amount (₹) |
| Partners’ Capital A/c: | Cash | 9,000 | |||
| Shah | 41,347 | Debtors | 10,000 | ||
| Dhole | 28,593 | 69,940 | Furniture | 25,000 | |
| Lodha’s Loan A/c | 45,260 | (+) Appreciation | 2,500 | 27,500 | |
| Sundry Creditors | 20,000 | Computers | 43,000 | ||
| Bills Payable | 4,000 | (-) Depreciation | 4,300 | 38,700 | |
| Vehicles | 45,000 | ||||
| (+) Appreciation | 9,000 | 54,000 | |||
| 1,39,200 | 1,39,200 | ||||
Working Note:
Goodwill is to be valued at an average profit and losses of the last Five Years which were as follows:
Average profit = `("Total Profit")/("Number of Years")`
= `(35,000 + 20,000+ 30,000 + 20,000 + 25,000)/5`
= `(1,30,000)/5`
= ₹ 26,000
∴ Goodwill = ₹ 26,000
Goodwill should not appear in the books of accounts.
Therefore, ₹26,000 was credited to the Partners’ Capital Account in the partners’ old profit and loss ratio. ₹ 26,000 will be debited in Partners’ Capital Account in partners’ new profit-loss ratio.
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संबंधित प्रश्न
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| Balance Sheet as on 31st March, 2023 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Creditors | 14,000 | Cash on Hand | 9,000 | ||
| Bank Loan | 10,000 | Sundry Debtors | 10,000 | 9,000 | |
| General Reserve | 12,500 | Less: R.D .D | 1,000 | ||
| Capital Accounts : | Livestock | 25,000 | |||
| M | 40,000 | Motor Car | 8,000 | ||
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| O | 24,500 | Plant and Machinery | 45,000 | ||
| 1,31,000 | 1,31,000 | ||||
N retires on 1st April, 2023 on the following terms:
(1) The share of N in Goodwill of the firm is valued at ₹ 5,400.
(2) Furniture to be depreciated by 10% and Motor Car by 12.5%.
(3) Livestock to be appreciated by 10% and Plant by 20%.
(4) A provision of ₹ 4,000 to be made for a claim of compensation.
(5) R.D.D. is no longer necessary.
(6) The amount payable to N should be transferred to his Loan A/c.
Prepare Profit and Loss Adjustment Ne, Partner's Capital Ncs and Balance Sheet of the new firm.
