Microsoft Word (Product Activation Failed)PracticalMoodlee LayoutReferencesMailingsReviewViewew Ron - 12- A A Aa川、而、请询AaBbCcDc AaBbCcDc AaBbC AaBbCc A aB AaEU - abc x, x’ A- 2 A三州、三。1 Normal1 No SpacingHeading 1Heading 2TitleSulFontParagraphStylesThe following is the statement of financial position of PQR sharing profits and losses in the ratioof 3:2:1 as on 31st Dec 2010LiabilitiesROAssetsROCreditors25,800 Cash8,000Outstanding ExpensesBills PayableCapitals:200 Debtor and Stock42,0006,000 Furniture15,000ComputerBuilding78,000 Patents10,00030,000P28,000Q20,0005,000R30,000110,000110,000They admit S into the partnership on the following terms: -1. The value of computer reduced by 10%2. A part of value of Patents for RO 1000 became useless and it has to be reduced.3. Buildings to be revalued at RO 55,0004. Furniture was depreciated by 10%5. S shall bring RO 25,000 as capital for ¼ share of future profitsa) Calculate New Profit Sharing Ratio and Sacrificing Ratiob) Prepare Revaluation Account, Partner's Capital Account and redraft the Statement offinancial position after the admission.Answer:J.S.)aW

Answered: Image /qna-images/answer/c241f8e5-b795-49e9-ab6a-9df4f0a753ab.jpg

Answered: ) Calculate New Profit Sharing Ratio…

Business

Accounting

) Calculate New Profit Sharing Ratio and Sacrificing Ratio

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.4C

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Yellow cells require numbers while blue cells contain pull-down menus. Blue Cells are these accounts: Accounts Franchise (BS) Cash (BS) R&D Expense (IS) Patents (BS) Legal Expense (IS) Loss (write-off)(IS) Amortization expense (IS) "No entry needed"
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