500 ill
Today
Accountancy Half...
:
[AM]
7 Pass necessary journal entries
Land and building undervalued by Rs 2,00.000
Provision to be made for compensation of Rs 20,000 to an ex-employee
Creditors include an amount of Rs 10,000 received as commission
Stock is overvalued by 20% (book valne 60.000)
8. A and B are partners. They admit C for 1/4th share in profits. For this purpose goodwill
is to be valued at three year's purchase of super profits.
[AM]
Following information is provided to you:
A's capital
5. 00.000
B's Capital
4,00.000
General Reserve
1. 50.000
P&L Account (Cr)
30.000
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