Pass entries in the firm’s Journal for the following on admission of a partner: (i) Machinery be reduced by ₹ 16,000 and Building be appreciated by ₹ 40,000. (ii) A provision be created for Doubtful Debts @ 5% of Debtors amounting to ₹ 80,000. (iii) Provision for Warranty claims be increased by ₹ 12,000.
Pass entries in the firm’s Journal for the following on admission of a partner:
(i) Machinery be reduced by ₹ 16,000 and Building be appreciated by ₹ 40,000.
(ii) A provision be created for Doubtful Debts @ 5% of Debtors amounting to ₹ 80,000.
(iii) Provision for Warranty claims be increased by ₹ 12,000.
Anurag Pathak Changed status to publish July 11, 2023
