Question 1: V Evans and T. Taylor are partners in a cool business, sharing profits and losses equally. On 31st Deck their capitals stood at BDT 3.500 and BDT 3.000 respectively. The firms assets and liabilities on the san BDT Coal Trucks 756 Furniture 260 Creditors 1,140 Cash at Bank 1.325 Plant 840 Bils payable 1,068 Debtors 4740 Cash in hand 52 Stock of Coal 735 They agree to take into partnership P primrose, a colliery agent as and form 1st January, on the follow Profits and loss to be shared Evans two-fiths, Taylor two-fifths and Primrose One-fifth, Primrose is to business Sundry Debtors amounting to BDT 720 (less a reserve of 5% for Bad bobts), and the Good connection estimated BOT 400. His capital in the new business is to be BOT 1 B00, the balance of whic it was also agreed between them that the following adjustments should be made as regards the busines Coal trucks to be taken at BDT 955, Plant BDT 950,5% bad debts on Debtors. Goodwill to be valued at from the bank balance such a sum as will reduce his capital to the same amount as Taylors Amber he date were as follows: Ing terms hing into the of his he is to pay in cash on 1st January s of Evans and Taylor BDT 1,250, and Evans to be paid out Instructions: Make the necessary entries as per above agreement and show the new Balance Sheet Question 1: V Evans and T. Taylor are partners in a cool business, sharing profits and losses equally. On 31st Deck their capitals stood at BDT 3.500 and BDT 3.000 respectively. The firms assets and liabilities on the san BDT Coal Trucks 756 Furniture 260 Creditors 1,140 Cash at Bank 1.325 Plant 840 Bils payable 1,068 Debtors 4740 Cash in hand 52 Stock of Coal 735 They agree to take into partnership P primrose, a colliery agent as and form 1st January, on the follow Profits and loss to be shared Evans two-fiths, Taylor two-fifths and Primrose One-fifth, Primrose is to business Sundry Debtors amounting to BDT 720 (less a reserve of 5% for Bad bobts), and the Good connection estimated BOT 400. His capital in the new business is to be BOT 1 B00, the balance of whic it was also agreed between them that the following adjustments should be made as regards the busines Coal trucks to be taken at BDT 955, Plant BDT 950,5% bad debts on Debtors. Goodwill to be valued at from the bank balance such a sum as will reduce his capital to the same amount as Taylors Amber he date were as follows: Ing terms hing into the of his he is to pay in cash on 1st January s of Evans and Taylor BDT 1,250, and Evans to be paid out Instructions: Make the necessary entries as per above agreement and show the new Balance Sheet