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X,Y,Z were in partnership sharing profits …

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X,Y,Z were in partnership sharing profits and losses equally. Y retires from the firm. After adjustments,his capital account shows a credit balance of 300000 as on 1 st April,2016 . Balance due to Y is to be paid at 3 equal annual installments along with interest @10% p.a . Prapare Y's loan account until he is paid the amount due to him. The firm closes its books as on 31'st march every year .

Posted by Sneha Gupta 4 years, 10 months ago

CBSE > Class 12 > Accountancy

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