Pass entries in firm’s Journal for the following on admission of a partner:

i) Unrecorded Investments of ₹ 20,000 are to be accounted.

ii) Unrecorded liability towards suppliers for ₹ 5,000 is to be accounted.

iii) An item of ₹ 1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back.

Anurag Pathak Changed status to publish May 21, 2023
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