Question

ABC company had the following amounts of assets and liabilities at the beginning and end of last year: Assets Liabilities Beginning of the year………………Br.75, 000 Br. 30,000 End of the year….……………………120,000 46,000

Answer 1

total capital of the new firm will be ₹ 1,20,000 in their profit sharing ratio. Actual cash to be brought in or to be paid off as the case may be. <br> e) Y to be paid ₹ 9,000 immediately and balance to be transferred to his Loan Account.

Answer 2

Explanation:

determine the net in income or net loss of abc for the year under each of following unrelated assumption.

1. owner made no additional investment and withdrew no amount during the her year