Read the following extracts and answer the questions for any one of the given two, (a) or (b) :
Those who prepare green wars,
wars with gas, wars with fire,
victory with no survivors,
would put on clean clothes
and walk about with their
brothers
in the shade, doing nothing.
(Keeping Quiet)
A thing of beauty is a joy forever
Its loveliness increases, it will never
Pass into nothingness; but will keep
A bower quiet for us, and a sleep
Full of sweet dreams, and health, and quiet breathing.
(A Thing of Beauty)
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.