# Neeraj n prasun r partners in a firm sharing profits in the ratio of 3:2. On 1st april 2012 they admittedvZulfi as a partner in the firm. The balance sheet of neeraj n prasun on that day stood as follows:

Dear Student

 Revalution A/c Date Particulars Amount (in Rs) Date Particulars Amount (in Rs) Liability for workmen compensation 230,000 Building A/c 100,000 Stock A/c 40,000 Capital A/cs Workmen compensation A/c 230,000 Neeraj 84,000 Prasun 56,000 370,000 370,000

 Partner's Capital A/c Particulars Neraj's Capital A/c Prasun's Capital A/c Zulfi's Capital A/c Particulars Neraj's Capital A/c Prasun's Capital A/c Zulfi's Capital A/c Balance b/d 100,000 80,000 Balance c/d 392,000 208,000 120,000 Workmen Compensation Reserve 12,000 8,000 General Reserve 96,000 64,000 Premium for Goodwill A/c 100,000 Revaluation A/c 84,000 56,000 Bank A/c 120,000 392,000 208,000 120,000 392,000 208,000 120,000

 Balancesheet Liabilities Amount (in Rs) Assets Amount (in Rs) Capital Building 380,000 Neeraj 392,000 Machinery 100,000 Prasun 208,000 Stock 160,000 Zulfi 120,000 Debtors 160,000 Cash in hand 360,000 Liability for workmens compensation 230,000 Creditors 210,000 1,160,000 1,160,000

 Calculation of Sacrificing Ratio Neeraj = Old Ratio - New Ratio $\frac{3}{5}-\frac{2}{5}$ $\frac{1}{5}$ Prasun = Old Ratio - New Ratio $\frac{2}{5}-\frac{2}{5}$ 0 Therefore only Neeraj is Sacrificing

 Goodwill distribution Zulfi's share of Goodwill 100,000 Distribution in Sacrificing Ratio Neeraj 100000 100,000

 Calculation of Zulfi's Capital Neeraj's Capital 392,000 Prasun's Capital 208,000 Combiled Capital (3,92,000 + 2,08,000) 600,000 20% of The Combined Capital 120,000 Therefore Zulfi's Capital 120,000

Regards

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