Sridevi and Santhiya were partners sharing profit and loss in the ratio of 3:2. They decided to admit Fathima into the partnership and revalue their assets and liabilities as indicated here under:
(a) To bring into record investment of Rs. 18,000 which had not so far been recorded in the books of the firm.
(b) To depreciate stock, furniture and machinery by, Rs.18,000, Rs.6,000 and Rs.30,000 respectively.
(c) To provide for workmen's compensation of Rs.24,000
Pass the necessary journal entries and show the revaluation account.

Kokila and Mala were sharing profits in the ratio of 4:3. Chandra was admitted in the business as a partner with \(\frac{3}{7}\)th share in the profits of the firm which she takes \(\frac{2}{7}\) th from Kokila and \(\frac{1}{7}\) th from Mala. Find out New profit Ratio and the sacrificing ratio.

Kavitha and Radha are partners of a firm sharing profits and losses in the ratio of 4:3. They admit Deepa on 1.1.2019. On that date, their balance sheet showed debit balance of profit and loss account being accumulate loss
Rs. 1,40,000 on the asset side of the balance sheet. Give the journal entry to transfer the accumulated loss on admission.

Valluvan and Kamban were partners sharing profits and losses as 60% tovalluvan and 40% Kamban. Their balance sheet as at 1^st January, 2019 stood as under:

The partners agreed to admit Elangovan into the firm subject to revaluation of the following items:
(i) Stock was to be reduced by Rs. 4,000
(ii) Land and Buildings were to be valued at Rs. 1,60,000
(iii) A provision of 2\(\frac{1}{2}\)% was to be created for doubtful debtors.
(iv) A liability of  Rs.2,600 for outstanding expenses had been omitted to be recorded in the books
Prepare the Revaluation account, capital accounts and the Balance sheet after the above adjustment

Lakshmi and Saraswathi are partners of a firm sharing profits and losses in proportion to capital. Trial Balance sheet as on 31^st March 2019 is as under

They decided to admit Sulochana into the partnership with effect from 1st April, 2005 on the following terms.
(a) Sulochana shall bring in a capital Rs. 50,000 for \(\frac{1}{5}\)^th share of profits.
(b) Goodwill is to be valued at Rs. 40,000.
(c) Plant and furniture was to be depreciated by 5%
(d) Provision for doubtful debts be created at 1\(\frac{1}{2}\%\) on sundry debtors.
Show revaluation account, capital accounts, bank account and Balance sheet of the reconstituted partnership.