Question

On amalgamation liability not
taken over by the new firm is
transferred to
O (a) Capital A/C
O (b) New firm's A/C
O (c) P&L A/C
o
(d) P & L Adjustment A/C​

Answer 1

Answer:

a. capital A/C

Step-by-step explanation:

the amalgamated firm (New Firm) are transferred to the Partners' Capital Accounts in CAPITAL RATIO and not in profit sharing ratio