Question Description
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? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 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? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?.

Solutions for 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? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of 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? defined & explained in the simplest way possible. Besides giving the explanation of 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?, a detailed solution for 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? has been provided alongside types of 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? theory, EduRev gives you an ample number of questions to practice 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? tests, examples and also practice UPSC tests.