Solution 25 (b) of cbse sample paper 2025-26 | Accountancy Class 12 ‎⁨@sethsaccountancytricks⁩ 

Solution 25 (b) of cbse sample paper 2025-26 | Accountancy Class 12 ‎⁨@sethsaccountancytricks⁩  Aman, Barman and Raman were partners sharing Profits & Losses in the ratio 5:3:2. Their Balance Sheet on March 31, 2025 was as follows Liabilities Amount (₹) Assets Amount (₹) Aman’s Capital 80,000 Bank 30,000 Barman’s Capital 70,000 Building 1,00,000 Raman’s Capital 50,000 Furniture 60,000 Workmen Compensation Reserve 50,000 Debtors 50,000 Accumulated Depreciation on Building 20,000 Stock 40.000 Profit and Loss 40,000 Prepaid Expenses 20.000 Creditors 25,000 Deferred Revenue Exp. 20.000 Outstanding Expenses 15,000 Goodwill 30.000 3,50,000 3,50,000 On the above date Barman retired and his share was acquired by Aman and Raman equally. Following agreements were agreed upon:- a) Create Provision for doubtful debts @ 10%. b) Market value of Building is ₹1,00,000 and Furniture was overvalued by 20%. c) Stock was valued at ₹ 55,000. Creditors of ₹ 15,000 took over stock of ₹ 10,000 in settlement of their claims. d) Goodwill of the firm was valued at ₹ 80,000. e) Prepaid Expenses are worthless and Outstanding Expenses are now ₹20,000. f) ₹ 20,000 was immediately paid to Barman on retirement brought in Aman and Raman in ratio 3:2. Prepare Revaluation Account and Partner’s Capital Account at the time of retirement of partner.