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Q78.A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following is their Balance Sheet as at 31st March, 2019:
Liabilities
Assets
Capital A/cs:
Building
35,000
A 50,000
Machinery
25,000
B 30,000
80,000
Stock
15,000
Creditors
20,000
Debtors
Investments
5,000
Bank
1,00,000
C is admitted as a partner on 1st April, 2019 on the following terms:
You are required to prepare Revaluation Account, Partner's Capital Accounts and new Balance Sheet
By: Aman ProfileResourcesReport error
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