(b) You are the President, RWA Silver Oak Society. Draft a notice for the society notice board informing residents about the appointment of security guards at Gate Nos. 2, 3, and 4 and an increase of {tt{rupee}} 1,000 in the annual maintenance charges to meet the expenditure. Mention relevant details.
(b) Notice for Society Notice Board
This is to inform all residents that security guards have been appointed at Gate Nos. 2, 3, and 4 to ensure the safety and security of the society. Consequently, an increase of ₹1,000 in the annual maintenance charges will be implemented starting February 2025 to meet the additional expenditure.
We request all residents to cooperate and adhere to the new changes for the betterment of our community. For any queries, contact the undersigned.
President
RWA Silver Oak Society
Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:
(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.