Question

Stock with Book Value of Rs 45000 was taken by Amit at Rs 40000. What amount should be
debited to Amit's Capital Account?​

Answer 1

Rs.40,000

Explanation:

The value on which The partner takes the stock or the stock is sold is to be recorded in the books. Accounting Principles Indicates the firm to record the actual transaction which takes place including the full transparency or disclosure of The amount involved in the transaction.