X and Y are two partners in a firm, they admitted C as a third partner...
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X and Y are two partners in a firm, they admitted C as a third partner for 1/3 share of profit. On admission of new partner old partner noticed an unrecorded assets of Rs. 6,000 and unrecorded liability of Rs. 2,000 which they want to account for before admission of a new partner in the books of a/c. What entry will be made for this revaluation? X and Y are two partners in a firm, they admitted C as a third partner for 1/3 share of profit. On admission of new partner old partner noticed an unrecorded assets of Rs. 6,000 and unrecorded liability of Rs. 2,000 which they want to account for before admission of a new partner in the books of a/c. What entry will be made for this revaluation?
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Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt
Posted Date:
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