Part-1 (Section-A) 1. X, Y and Z are partners sharing profits in the ratio of 3:2:1. They admit Mas a new partner. Following information is available on the Admission of M: Creditors 84,000 Machinery 66,000 Stock 30,000 Machinery was overvalued by 10% and creditors were found only Rs.81,000. Stockwas also overvalued. Loss on Revaluation Debited to Z's Capital Account Rs.1,500. (a) 10% (b) 15% (c) 20% (d) 25percent
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And is option A which is 10%
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