Not that he faced no dangers. There were times when the bullet missed its mark, the tiger leapt upon him and he fought the beast with his bare hands. Each time it was the Maharaja who won. At another time he was in danger of losing his throne. A high-ranking British officer visited Pratibandapuram. He was very fond of hunting tigers. And fonder of being photographed with the tigers he had shot.
(The Tiger King)
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.