CUET Preparation Today
At the time of retirement of a partner, Provision for bad debts was of Rs 20,000 in Balance Sheet. But new liability for this purpose was decided to be 15,000. How much amount will be transferred to Revaluation Account? |
5,000 Dr 5,000 Cr 15,000 Dr 15,000 Cr |
5,000 Cr |
20,000 - 15,000 = 5,000 Cr as it gain for the firm. |
