Balance Sheet Statement
2 previous year questions.
High-Yield Trend
Chapter Questions 2 MCQs
Star and Moon were partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2024 the Balance Sheet of the firm was as follows: 
They admitted Sun into partnership on 1st April, 2024 for 1/10 share. It was agreed as follows:
Sun brings βΉ6,00,000 as capital but could not bring goodwill in cash.
Goodwill is valued at βΉ4,00,000.
Provision on debtors is required @10%.
Interest on Bank Loan for 6 months is due @12% p.a.
Liability to workers is βΉ15,000 against Workmen Compensation Reserve.
Unrecorded stock of βΉ40,000 is taken by Star at βΉ38,000.
Prepare Revaluation Account and Partnersβ Capital Accounts.
Debtors appearing in the Balance Sheet of a firm were as follows: 
On dissolution of firm, bad debts were βΉ40,000 and the remaining debtors were realised at 5% discount. How much amount was realised from Debtors?


