Following is the balance sheet of A and B who share profits and losses in the ratio of 2 : 1 as at 31st March, 2018 :
Liabilities
Assets
₹
A's Capital
B's Capital
Reserves
Profit and Loss A/c
Sundry Creditors
3,00,000 Cash and Bank
2,00,000 Sundry Debtors
70,000 Stock
50,000 plant and Machinery
80,000 Goodwill
Advertisement Expenditure
7,00,000
25,000
2,00,000
2,15,000
1,80.000
60,000
20,000
7,00,000
th
They admit C as a partner from 1st April 2018 with th share in the profits of the
4
firm. C brings 3,20,000 as his Capital. Give journal entries for the adjustment of
goodwill,

1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19