970 Particulars Particulars To Bank Alc 25,000 By A Capital Alc 61,750 To Balance cld 61,000 By A Current Alc 4.250 By A Loan Alc 20,000 86,000 86,000 Balance Sheet as at 1st January, 2018 (after A's death) Liabilities 3 Assets Capital Accounts: Leasehold Premises 40,000 (8-17,400; C714,050) 31,450 Less: Accumulated depreciation 4,000 36,000 Current Accounts: Plant 46,000 (82 6,500, C25,750) 12,250 Less: Accumulated depreciation 11.500 34,500 Executors of A 61,000 Stock 24,300 Sundry Creditors (including valuer's charges of 700) 21,950 Debtors 21,000 Less: Provision for doubtful debts 4,150 16,850 Bank R 40,000 - 25,000) 15,000 1,26,650 1,26,650 Illustration 9 A, B and C were partners in a firm sharing profits and losses in the ratio of 3 : 2:1. C died on 28th February, 2018. The Balance Sheet of the firm as on that date was as follows: Liabilities Assets A's Capital A/C 1,20,000 Plant and Machinery 1,20,000 B's Capital A/C 80,000 Furniture and Fittings 75,000 C's Capital Alc 40,000 Investments 20,000 A's Current Alc 8,000 Stock-in-Trade 32,000 B's Current Alc 2,500 Sundry Debtors 25,000 Reserve 30,000 Bills Receivable 11,000 Bills Payable 17,000 Cash at Bank 18,500 Sundry Creditors 20,000 Cash in Hand 11,000 C's Current Alc 5,000 3,17,500 3,17,500 The following decisions were taken by the surviving partners: (a) Goodwill is valued at 30,000. (b) A Provision for Bad Debts is to be raised at 5% on debtors. (c) While Plant and Machinery to be depreciated by 10%, Furniture is to be appreciated by 5%. (d) Revised value of stock-in-trade will be * 26,500. (e) The fixed capital method is to be converted into the fluctuating capital method by transferring the Current Account balances to the respective Partners' Capital Accounts. Prepare a Revaluation Account, Capital Account of the three partners, showing the necessary adjustment at C's death, and prepare C's Executors Account to show that C's Executor was paid off in two half-yearly equal instalments plus the interest at 10% p.a. on the unpaid balance, the first instalment was paid on 31st August, 2018