Pand Q are sharing profits in the ratio of 3: 2.
Assets:
Investments 80,000
They decided to admit R on 1st April, 2015 and on this date, the market value of investments is 2 60,000.
p takes over the investments at this value. At what value will investments be shown in new balance
sheet:
(a) 80,000
(c) 1,40,000
(b) 60,000
(d) Investment will not be shown in new balance sheet
Answers
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Answer: d
Explanation:
Investments will not be shown in the new balance sheet because they are taken over by the partner
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