The Balance Sheet of RMU partnership firm Muscat is as follows, Partners share Profit and Losses as 5:2:3
Balance Sheet as on 31st March 2019
Liabilities	Amt OMR	Amt OMR	Assets	Amt OMR	Amt OMR
Capital Account:			Plan & Machinery		32,000
R	36,000		Building		40,000
M	32,000		Stock		20,400
U	17,600		Debtors	16,800
Creditors	20,000		Less: R. D. D.	800	16,000
Bill Payable	1,200		Bank		12,400
General Reserve	14,000
		1,20,800			1,20,800
M retired from the business on 1st April 2019 on the following terms.
1. The assets were revalued as under.
i) Stock at OMR 28,000
ii) Building is appreciated by 10%
iii) R.D.D. is to be increased up to OMR 1000
iv) Plant and Machinery is to be depreciated by 10%
2. The Goodwill of retiring partner is valued at OMR 8000 and the remaining Partners decided that Goodwill be written back in their New Profit sharing ratio which will be 5:3
3. Amount due to M is to be transferred to her Loan Account
Prepare revaluation Account, Partners Capital Accounts and Balance Sheet
ANSWER BELOW QUESTIONS

Question 11

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Balance amount transferred from M capital account to M loan account is OMR

a.

36440

b.

34440

c.

38440

d.

44440

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Question 12

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Balance amount transferred from U capital account to balance sheet is OMR

a.

21260

b.

24260

c.

22260

d.

23260

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Question 13

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Amount of goodwill transferred to retiring partner M capital account is OMR

a.

5000

b.

3000

c.

8000

d.

10000

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Question 14

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Appreciated value of stock that should appear in closing balance sheet is OMR

a.

28000

b.

30000

c.

7600

d.

20400

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Question 15

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Closing balance sheet value of total assets that must be equal to total liabilities amounted to OMR

a.

120000

b.

139000

c.

129000

d.

119000