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A and B are partners sharing profit in the ratio of 5:3 their balance sheet stood as under they admit C on the following terms?
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A and B are partners sharing profit in the ratio of 5:3 their balance ...
Admitting C as a Partner

Current Balance Sheet:
- A's Capital: $5x
- B's Capital: $3x

Terms of Admission:
- C will bring in $2x as capital.
- C will be entitled to 1/5th of the profits.
- C will bear 1/5th of the losses.
- C will be entitled to a share of goodwill which will be decided based on mutual agreement.

Calculation:
- Total Capital after C's admission: $5x + $3x + $2x = $10x
- C's share of profit: 1/5 of total profit
- C's share of loss: 1/5 of total loss

Distribution of Profit and Loss:
- Profit distribution ratio: A:B:C = 5:3:1
- Loss distribution ratio: A:B:C = 5:3:1

Treatment of Goodwill:
- Goodwill will be calculated based on mutual agreement among the partners.
- C will pay his share of goodwill to A and B based on the agreed amount.

Adjustment Entry:
- A and B's capital accounts will be adjusted based on C's admission.
- Goodwill will be recorded in the books of accounts.
By following these terms and calculations, C can be admitted as a partner in the firm and the profit sharing ratio can be adjusted accordingly.
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A, B and C are partners sharing profits and losses in the ratio of 2 : 1 : 1 respectively.On 31st March, 2012, their balance sheet was as follows:A died on 1st April, 2012. The firm had taken a joint life policy for Rs 1,20,000, the payment for which was received by the firm. According to the partnership deed, on retirement or death of a partner, the goodwill of the firm was to be valued at 1½ times of the average profit for the last four years.The profits for the last four years were Rs 64,000, Rs 69,000, Rs 72,000 and Rs 75,000 respectively. For paying the amount due to A’s legal representative, B and C brought as much cash as would bring their capitals in profit sharing ratio and the firm would have a cash balance of Rs 3,000.Pass journal entries to record the above mentioned transactions and prepare partners’ capital accounts.?

A, B and C are partners sharing profits and losses in the ratio of 2 : 1 : 1 respectively.On 31st March, 2012, their balance sheet was as follows:A died on 1st April, 2012. The firm had taken a joint life policy for Rs 1,20,000, the payment for which was received by the firm. According to the partnership deed, on retirement or death of a partner, the goodwill of the firm was to be valued at 1½ times of the average profit for the last four years.The profits for the last four years were Rs 64,000, Rs 69,000, Rs 72,000 and Rs 75,000 respectively. For paying the amount due to A’s legal representative, B and C brought as much cash as would bring their capitals in profit sharing ratio and the firm would have a cash balance of Rs 3,000.Pass journal entries to record the above mentioned transactions and prepare partners’ capital accounts. in this question how b capital become 88750 and c capital will become 68750?

Following is the Balance Sheet of kusum, ghusum and dishum who have agreed to share profits and losses in proportion of their capitals.(8) On 31st March, 2014, Kusum desired to retire from the firm and the remaining partners decided to carry on the business. It was agreed to revalue the assets and reassess the liabilities on that date, on the following basis:(i) Land and Building to be appreciated by 30%.(ii) Machinery be depreciated by 30%.(iii) There were Bad Debts of Rs. 35,000.(iv) The claim on account of Workmen Compensation Reserve was estimated at Rs. 15,000.(v) Goodwill of the firm was valued at Rs. 2,80,000(vi) remaining partners decided to pay off cash immediately to the Retiring partners by bringing in cash in the new profit sharing ratio and also to leave a balance of Rs1,00,000 in their bank account.(vii) they will also adjust their capitals in their new ratio which was 3:4 Prepare Revaluation Account & Capital Accounts of Partners only?

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A and B are partners sharing profit in the ratio of 5:3 their balance sheet stood as under they admit C on the following terms?
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