{"id":49808,"date":"2021-09-11T18:58:14","date_gmt":"2021-09-11T18:58:14","guid":{"rendered":"https:\/\/papersspot.com\/blog\/2021\/09\/11\/pro113-week-statistics\/"},"modified":"2021-09-11T18:58:14","modified_gmt":"2021-09-11T18:58:14","slug":"pro113-week-statistics","status":"publish","type":"post","link":"https:\/\/papersspot.com\/blog\/2021\/09\/11\/pro113-week-statistics\/","title":{"rendered":"PRO113 week statistics"},"content":{"rendered":"<p>Their Balance Sheet stood as follows on 31st December 2003. <br \/>Liabilities <br \/>Rs. <br \/>Assets <br \/>Rs. <br \/>Creditors <br \/>37,500 <br \/>Cash at bank <br \/>22,500 <br \/>Capital Account <br \/>Bill Receivable <br \/>3,000 <br \/>A <br \/>40,000 <br \/>Book Debts <br \/>16,000 <br \/>B <br \/>10,000 <br \/>Stock <br \/>20,000 <br \/>Furniture <br \/>1,000 <br \/>Building <br \/>25,000 <br \/>87,500 <br \/>87,500 <br \/>They admitted C into partnership 1st January 2004 on the following terms: <br \/>(a) That C pays Rs. 10,000 as his capital for 1\/5 share in the future profits. <br \/>(b) That goodwill for Rs. 20,000 is raised in the books of the new firm. <br \/>(c) That stock and furniture are reduced by 10% and that a 5% provision is made for likely bad debts <br \/>(d) That the value of the buildings is increased by 20% and <br \/>(e) That the capital Accounts of A and B are readjusted on the basis of their profit sharing ratios. <br \/>Required: <br \/>Pass the necessary journal entries and give the ledger Accounts and opening Balance Sheet of the new firm <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Their Balance Sheet stood as follows on 31st December 2003. Liabilities Rs. Assets Rs. Creditors 37,500 Cash at bank 22,500 Capital Account Bill Receivable 3,000 A 40,000 Book Debts 16,000 B 10,000 Stock 20,000 Furniture 1,000 Building 25,000 87,500 87,500 They admitted C into partnership 1st January 2004 on the following terms: (a) That C [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-49808","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/49808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=49808"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/49808\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=49808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=49808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=49808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}