37. Following in the Balance Sheet of Mr. Aslam and Mr. Blal who share profits in the ratio of 52. Denon 2 Nett wered Marted out of 3.00 Balance Sheet of Mr. Aslam and Mr. Bitalas on April 1, 2020 Liabilities Amount (OMR) Assets Pago Amount (OMR) 32.950 Cash in hand 500 Sundry creditors Capitals 25,000 Building 25,000 Mr. As 15,000 Mr. 10,000 Stock 10,000 Plant & Machinery 17.500 Sundry debtors 4,850 57.950 $7.950 They agree to admit Mr. Kamal into the partnership on the following Mr. Kama was to bring in OMR 7.500 as is capitw and OMR 3,000 as goodwill for 1/4th share in the fom. Values of the Stock and Pant and Machinery were to be reduced by 8% A Provision for Doubtful Debts was to be created in respect of Sundry Dettor OMR375. IV. Building Account was to be appreciated by 10 Pas the journal entry to record the plant and machinery in Revaluation account . Di Piant and Machinery ale OMR 875 C. Revaluation a/c OMR 875 Dr. Revaluation / OMR 175 C. Pant and machenary OMR 875 Di Pant and Machinery a OMR 675 Resitation / OMR 875 None of the listed choices 2.2 37. Following in the Balance Sheet of Mr. Asia and Mr. Bal who share profits in the ratio of 52. Balance Sheet of Mr. Aslam and Mr. Balas on April 1, 2020 Not yet newered Marted out of 100 Tra que Liabilities Amount (OMR) Assets Amount (OMR) Sundry creditors 32.950 Cash in and WOO Capitals 65.000 Building 55.000 Mr. Aslam 15,000 Mr. Bilal 10,000 Stock 0.000 plant & Machinery 117300 Sundry debtors 850 57.950 57.950 They agree to admit Mr. Kamal inte tre partnership on the following terms 1. il Mr. Kamal was to bring in OMA 7.500 si capita and OMR 3,000 as goodwill for 1/4th share in the firm, Values of the Stock and Pant and Machinery were to be reduced by 5% A Provision for Doubtful Debts was to be created in respect of Sundry Detter OMR 375 IV Building Account was to be appreciated by to 2. Pass the jouma entry to rected the plant and machinery in Revaluation account, None of the sted choices Dr Revelation a/OMR 375 Provision for doubt ab OUR 375 Dr Provision for doubtfuldebts a/c OMR375 Ration/COM Dr Provision for doubtlul debts a/c OUR 37 Revation we OMR 375 + Pass the journal entry to record the provision for doubtful debts in evaluation account. WRITER Tudi PSS Sundry creators 32.950 Cash in hand FOO Capitals 25,000 Building 25.000 Mr. Asta 15,000 Mr. Bila 10,000 Stock 10.000 pant & Machinery 17.500 Sundry debtors 850 57.950 57.950 They agree to admit Mr. Camat into the partnership on the following terms M. Kama was to bring in OMR 7.500 tis capital and OMR 3,000 as good for 1/4 share in the Values of the Stock and Piant and Machinery were to be reduced by 5% A Provalon for Dovattul Dects was to be created in respect of Sundry Debtor OMR 37%. Building Account was to be appreciated by 101 A Poss tre jouma entry to record the plant and machinery in Revaluation account IV. b. Pass the jouma entry to record the provision for doubt debts in Revaluation account Credit bance of OMR 750 Creat balance of OMR 2.500 None of the sted choices Debt balance of OMR 750 The balance of revaluation account will be
