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The liability of workmen's compensation fund …

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The liability of workmen's compensation fund was determined at Rs. 2,30,000 And in balance sheet we find its value Rs. 2,50,000 How to treat this situation

Posted by Amandeep Yadav 5 years, 8 months ago

CBSE > Class 12 > Accountancy

2 answers

Ayushi Chouhan 5 years, 8 months ago

250000 - 230000 = 20000 will be distributed between old partners in old ratio and in new balance sheet claim of Workmen's Compensation Fund of 230000 is in liabilities side.

Singh Rajput 5 years, 8 months ago

then the remaining balance i.e. 2,50,000 - 2,30,000 = 20,000 should be distributed between old partners in their old ratio.

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