(c) Stock whose book value was
49. Vansh and Hans are partners in a firm who shared profit and loss in the ratio
3 : 2. They admitted Karan as a partner
and determined new profit sharing ratio
as 3 : 2 : 1. At the time of admission of
the partner, Debtors and Doubtful
debts were 40,000 and 4,000 respectively.
All the debtors were considered
good. Plant whose book value was
1,50,000 was to be reduced by 10% and
Furniture whose book value was 60,000 was valued
by 5% less. Pass necessary
journal entries.
Loss 18 0001
​