Mathematics, 26.07.2021 04:40, jamalchris9353
Rahul and Varun are equal partners in a business. On 31st March, 2018, Rahul retires from firm. When he retires, accounts stood as follow: Rahul's Capital Account ₹16000 Varun's Capital Account ₹14000 Rahul's Current Account (Cr.) ₹1800 Varun's Current Account (Cr.) ₹1600 It is agreed that assets and liabilities appearing in the books should be revalued. Revaluation is made with the following results. (1) The book value of machinery is reduced by ₹1,000. (ii) The reserve for bad debts is found to be excessive by *400. (iii) The value of stock is reduced by * 700. (iv) The sundry creditors are increased by 1,340. (v) Patents (book value 600) are held to be of no value. Show Revaluation Account and Partners' Capital Accounts as they would appear after the revaluation but before Rahul's share is paid out to him.
Answers: 2
Other questions on the subject: Mathematics
Mathematics, 21.06.2019 17:00, edjiejwi
Determine the fraction of total interest owed. after the fourth month of a 12-month loan: the numerator is: {(n + ) + (n + ) + (n + ) + (n + )} = , and the denominator is: {(n) + (n + 1) + + (n + )} = . therefore, the fraction is numerator/denominator (to the nearest tenth) =
Answers: 1
Do you know the correct answer?
Rahul and Varun are equal partners in a business. On 31st March, 2018, Rahul retires from firm. When...
Questions in other subjects:
Mathematics, 01.06.2021 21:30
Chemistry, 01.06.2021 21:30
Mathematics, 01.06.2021 21:30
