Joy and Deb were partners sharing profits and losses in the ratio of 2 : 1. They admitted Gopi into partnership for 1/5th share.
Joy and Deb were partners sharing profits and losses in the ratio of 2 : 1. They admitted Gopi into partnership for 1/5th share. At the time of Gopi’s admission, Furniture (book value ₹ 2,50,000) was reduced by 40% and Machinery (book value ₹ 1,50,000) was reduced to 40%.
What was the net decrease in value of assets?
Anurag Pathak Changed status to publish July 18, 2023
| Furniture ( ₹ 2,50,000 × 40%) | ₹ 1,00,000 |
| Machinery (₹ 1,50,00 × 60% ) | ₹ 90,000 |
| Net decrease in value of assets | ₹ 1,90,000 |
Anurag Pathak Changed status to publish July 18, 2023
