Ajay and Binoy are accomplices in a firm sharing benefits and misfortunes in the proportion of 2:1 individually. On 31st March, 2011 their accounting report remained as takes after:
On 1st April 2011, another accomplice Harry was conceded into association on the accompanying terms:
(i) That Harry acquires money Rs. 60,000 as goodwill for his 33% offer in future benefits.
(ii) That Harry brings such a sum, to the point that his capital will be 33% of aggregate capital of the new firm.
(iii) That the estimation of stock to be raised to Rs. 1,68,000.
(iv) That furniture and apparatus be devalued by 5% and 10% separately.
(v) That a procurement for dubious obligations be made at 5% on sundry account holders.
(vi) That the capital records of the accomplices be re-balanced on the premise of their benefit sharing proportion through their present records.
Set up the essential record records and the opening accounting report of the new firm.