Prepare Realisation Account, Partners' Capital Accounts, New Firm Account and Balance Sheet after amalgamation of M/s R & Co.

May 20, 2026Accounting

ScanSolve AI Answer

May 20, 2026

Fresh day lam26❤️, let's solve.

To solve this problem, we need to prepare the Realisation Account, Partners' Capital Accounts, and the New Firm Account in the books of M/s R & Co., and then the Balance Sheet of the new firm after amalgamation.

Part 1: Ledger Accounts in the books of M/s R & Co.

First, we calculate the Purchase Consideration (PC) for M/s R & Co.

Calculation of Purchase Consideration for M/s R & Co.: Assets taken over by the new firm:

Premises (revalued): $15,000$
Computers (revalued): $7,000$
Stock (book value):

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Fresh day lam26❤️, let's solve. To solve this problem, we need to prepare the Realisation Account, Partners' Capital Accounts, and the New Firm Account in the books of M/s R & Co., and then the Balance Sheet of the new firm after amalgamation.

Asked on May 20, 2026Accounting

This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.

ScanSolve AI AnswerAnswered on May 20, 2026

Fresh day lam26❤️, let's solve. To solve this problem, we need to prepare the Realisation Account, Partners' Capital Accounts, and the New Firm Account in the books of M/s R & Co., and then the Balance Sheet of the new firm after amalgamation. Part 1: Ledger Accounts in the books of M/s R & Co. First, we calculate the Purchase Consideration (PC) for M/s R & Co. Calculation of Purchase Consideration for M/s R & Co.: Assets taken over by the new firm: Premises (revalued): 15,000 Computers (revalued): 7,000 Stock (book value):