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

Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
		Debtors	8,00,000
		Less (-) Provision For Bad Debts	(20,000)
			7,80,000

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?

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Anju and Bhawna are partners in a firm sharing profits in the ratio of 9/12 and 5/20. Chetna was admitted for 7/35 share and she could not bring her share of goodwill in cash. Goodwill of firm is valued at Rs. 50,000. Journalise :-

Dinesh, Ramesh and Suresh are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 1, 2025. On that date, sundry debtors of Rs. 60,000 and stock of Rs. 1,20,000 appeared in the balance sheet. A provision of 5% on sundry debtors be made for doubtful debts. The value of stock be reduced to Rs. 1,12,000. The gain or loss on revaluation would be:

For transferring the revaluation loss, which of the following is correct ?

Identify the incorrect journal entry related to Revaluation of Assets and Liabilities of a firm.

Anshu and Nitu are partners, sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu, Nitu and Jyoti.