X and Y are partners in firm sharing profits in the ratio of 3: 2. They...
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X and Y are partners in firm sharing profits in the ratio of 3: 2. They admitted Z as a new partner and fixed the new profit-sharing ratio as 3: 2: 1. At time of admission of Z, Debtors and Provision for Doubtful Debts appeared at Rs.50, 000 and Rs.5, 000 respectively All debtors are good. Pass the necessary Journal entries. X and Y are partners in firm sharing profits in the ratio of 3: 2. They admitted Z as a new partner and fixed the new profit-sharing ratio as 3: 2: 1. At time of admission of Z, Debtors and Provision for Doubtful Debts appeared at Rs.50, 000 and Rs.5, 000 respectively All debtors are good. Pass the necessary Journal entries.
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i Provision for Doubtful Debts ac Dr To Revaluation ... View the full answer
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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