Question

Q. 02 At the time of admission
of partner, workmen
compensation reserve appears
at Rs.80,000 in the balance
sheet and workmen
compensation claim is
estimated at Rs. 95000. Rs.
80000 will be charge from
workmen compensation
reserve and balance of Rs.
15000 will be charge from: *
Old Partner Capital
Revaluation account
O New partner Capital
None of the above​

Answer 1

Explanation:

Workmen Compensation Reserve a/c.... Dr 72000

To Workmen Compensation Claim a/c 48000

To X's Capital a/c 12000

To Y's Capital a/c 12000

(Being adjustment of workmen compensation reserve partly for the claim and rest in the ratio of 1:1)

Answer 2

in the ratio 1:1.................................................