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Raghu and Rishu are partners sharing profits in the ratio 3 : 2. Their Balance Sheet as at 31st March, 2009 was as follows:
BALANCE SHEET OF RAGHU AND RISHU
as at 31st March, 2009
Employees' Provident Fund Investments Fluctuation Reserve Capital A/cs:
Cash in Hand Debtors
Less: Provision for Doubtful Debts Investments
Plant and Machinery
Rishabh was admitted on that date for 1/4th share of profit on the following terms:
Prepare Revaluation Account, Partners' Capital Accounts and Balance Sheet of the new firm.
By: NIHARIKA WALIA ProfileResourcesReport error
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