No products in the cart.

Rao and Reddy were partners in …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Rao and Reddy were partners in a firm sharing profits in the ratio of 3: 1. They admitted Rustum as a new partner for 3/8th share in the profits. The new ratio will be 3:2: 3, Rustum brought ? 2,00,000 60,000 Cash 20,000 1,00,000 for his capital and 50.000 for his share of premium for goodwill. On 31-3-2007, their Balance Sheet was as follows: Liabilities Creditors Bills Payable Capital Accounts: Rao Reddy It was agreed that: (1) Stock to be valued at ? 2,00,000. (2) Machinery will be depreciated by 12% and Furniture by 2,000 (3) A provision of 5% for Bad and Doubtful Debts will be made on Debtors. (4) The Capital Accounts of all the partners were adjusted in the new profit-sharing ratio after admission. For surplus or deficiency, the Current Accounts were to be opened, Prepare Revaluation Account, Partner's Capital
  • 0 answers
http://mycbseguide.com/examin8/

Related Questions

Rspl 1 accounts solutions
  • 0 answers
Rac ds1 solution
  • 0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App