Q. 3. Admission of Partner Solution:

In the books of the firm.

Profit and Loss Adjustment A/c

Particulars	Rs.	Rs.	Particulars	Rs.	Rs.
To R.D.D. A/c		1600	By Live Stock A/c		4400
To Loose Tools A/c		18040	By Outstanding Rent A/c		960
			By Revaluation Loss:
			Meena Capital A/c	9520
			Heena Capital A/c	4760	14280
		19640			19640

Partners Capital A/c

Particulars	Meena	Heena	Seema	Particulars	Meena	Heena	Seeema
To Profit & Loss Adj. A/c	9520	4760		By Balance b/d	134000	120000
To Balance C/d	153280	129640	120000	By Reserve Fund A/c	4800	2400
				By Bank A/c			120000
				By Goodwill A/c	24000	12000
	162800	134400	120000		162800	134400	120000

Balance Sheet as on 1st April 2016

Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital Accounts:			Leasehold Property		20000
Meena	153280		Live  Stock	6600
Heena	129640		Add: Appreciation	4400	11000
Seema	120000	402920	Loose Tools	90200
Creditors		53800	Less: Depreciation	18040	72160
			Stock		86800
			Debtors	48000
			Less: R.D.D.	-3600	44400
			Bank		222360
		456720			456720