Practicing Success
A and B are partners of a partnership firm sharing profits in the ratio of 3 : 2 respectively. C was admitted for 1/5th share of profit. Machinery would be appreciated by 10% (book value Rs80,000) and building would be depreciated by 20% (Rs2,00,000). Unrecorded debtors of Rs1,250 would be brought into books now and a creditor amounting to Rs2,750 died and need not pay anything on this account. What will be profit/loss on revaluation? |
Loss of ₹28000 Loss of ₹40000 Profit ₹28000 Profit ₹40000 |
Loss of ₹28000 |
Revaluation a/c
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