P and Q are partners sharing profits in the ratio of 2 : 1. R is...
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P and Q are partners sharing profits in the ratio of 2 : 1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs. 20, 000 as his capital for 1/4th share and pays Rs. 9,000 for goodwill, half of which is to be withdrawn by P and Q. How much cash can P & Q withdraw from the firm (if any)? P and Q are partners sharing profits in the ratio of 2 : 1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs. 20, 000 as his capital for 1/4th share and pays Rs. 9,000 for goodwill, half of which is to be withdrawn by P and Q. How much cash can P & Q withdraw from the firm (if any)?
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P and Q can withdraw a total of Rs 9000 from the firm EXPLANATION R ... View the full answer
Related Book For
Fraud examination
ISBN: 978-0538470841
4th edition
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
Posted Date:
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