At the time of admission of new partner Vasu, old partners Paresh and Prabhat had debtors of Rs. 6,20,000 and a provision for doubtful debts of Rs. 20,000 in their books. As per terms of admission, provision for doubtful debts is to be maintained on Sundry Debtors at a provision of 5%. How it will be shown in the balance sheet?

Extract of Balance Sheet of a Partnership firm is given below :-

Provision for bad debts is to be made equal to 5% of debtors, for this adjustment what journal entry will be recorded related to Revaluation A/c?

Sameer and Yasmin are partners with capitals of Rs 15,00,000 and Rs 10,00,000 respectively. They agreed to share profits in the ratio of 3:2. The books are closed on March 31, every year. They admit Ravi on October 1, 2019 in the partnership, who bring Rs 12,00,000 as capital and Sameer also introduced additional capital Rs 3,00,000 on that date. Interest on partner's capital is provided @5% p.a. The amount of interest on the capital of Sameer for the year 2019-20 is-

Navya and Nitya are partners sharing profits in the ratio of 3:2 with capitals of Rs. 1,00,000 and Rs. 50,000 respectively. Hardik is admitted for 1/5 share in profits. The amount that Hardik will contribute as capital is ________

P, Q and R are partners in a firm. If S is admitted as a new partner then:

Revaluation Account is :-

Calculate the amount of adjusted profit for the year ended 31 March 2021 for the purpose of valuation of Goodwill from the following information:

Profit for the year ended 31 March 2021: Rs. 80,000

On 1 July, 2020, a major plant repair was undertaken for Rs. 10,000 which was charged to Revenue. The said sum is to be capitalised for Goodwill valuation subject to adjustment of depreciation @ 10 % p.a. on reducing balance method.