Question: 3 pYY %19. @ p Flag question Mahmood, Murshid and Dawood were partners of a firm sharing profit and losses in the ratio of 5:3:2.

3 pYY %19. @ p Flag question Mahmood, Murshid and Dawood

3 pYY %19. @ p Flag question Mahmood, Murshid and Dawood were partners of a firm sharing profit and losses in the ratio of 5:3:2. On April 1, 2020, Dawood wanted to retire. They decided to revalue the firm's assets and liabilities as indicated below: a. Depreciate stock, furniture and machinery by OMR 10,000, OMR 5,000 and OMR 23,000; respectively. b. Increase the value of premises by OMR 30,000. C. Provide for an outstanding liability of OMR 2,000. The profit(loss) on revaluation is ; a. OMR 10,000 b. (OMR6,000) C. (OMR 10,000) d. OMR 6,000

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