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A, B and C are partners sharing profits and losses in the ratio of 2 : 3 : 5. On 31st March, 2019, their Balance Sheet was:
They admit D into partnership on the following terms:
The partners decided to use 10% of the profits every year in providing drinking water in schools, where required. Prepare Revaluation Account, Partners' Capital Accounts, Cash Account and Balance Sheet of the new firm.
By: NIHARIKA WALIA ProfileResourcesReport error
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