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P. 3
X 1,80,000 Stock 1,00,000
Y 1,60,000 Machinery 1,60,000
z 1,20,000 4,60,000 Goodwill 30,000
7,00,000 7,00,000
Z retires & new profit sharing ratio is 1:1
1) badebt 14000
2) goodwill of firm valued at 3,00,000
3) machine valued at 200,000
4) outstanding exp of 15,000 are not recorded
Prepare Revaluation Account, Partners’ Capital
Accounts and Balance Sheet of the reconstituted firm.
