Angle and circle were partners in …



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Angle and circle were partners in a firm. Their balance sheet showed furniture at ₹2,00,000;stock at₹1,40,000;debtors at ₹1,62,000 and creditors at₹60,000. Square was admitted and new profit sharing ratio was agreed at 2:3:5. Stock was revalued at ₹1,00,000 ,creditors of ₹1,50,000 are not likely to be claimed,debtors for ₹2,000 have become irrecoverable and provision for doubtful debts to be provided @10%. Angle's share in loss on revaluation amounted to₹30,000. Revalued value of furniture will be
  • 3 answers

Abhi Jaat 1 week, 3 days ago

Interst on capital is allowed on

Eva Lis Mathew 1 week, 4 days ago

Can you please explain it

Sarthak Jain 1 week, 4 days ago


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