2. Questions Bank
  3. 12th Class
  4. Accountancy
  5. Admission of a Partner

12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    Workmen Compensation Reserve (WCR) appears in the balance sheet of Rashmi and Suman. who share profits in the ratio of 2 : 3 at Rs. 80,000. Deepa is admitted and the new profit sharing ratio is 1:1:1. If the claim on account of WCR is estimated at Rs. 1,00,000, then

    A) the difference of Rs. 20,000 will be debited to revaluation account

    B) the difference of Rs. 20,000 will be debited to Rashmi's capital account

    C) the difference of Rs. 20,000 will be debited to Suman's capital account

    D) None of the above

    Correct Answer: A

    Solution :

    [a] the difference of Rs. 20,000 will be debited to revaluation account


You need to login to perform this action.
You will be redirected in 3 sec spinner