Question

6. Arun and Vijay are partners in a firm sharing profits and losses in the ratio of 5:1.
Balance Sheet (Extract)
Machinery 40,000
If the value of machinery reflected in the balance sheet is overvalued by
33 1/3%, find out the value of Machinery to be shown in the new Balance
Sheet:
(A) ₹ 44,000 (B) ₹48,000 (C) ₹ 32,000 (D) ₹30,000

Answer 1

Answer:

D) 30,000

Explanation:

"x-33 of x= 40,000

X-1/3=40,000

2/3x=40,000

X=40,000 *3/2

X=40,000