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) Provisions for warranty claims be increased by ₹ 12,000. iv) Furniture (Books Value ₹ 50,000) is to be reduced by 40%. v) Furniture (Books Value ₹ 50,000) is to be reduced to 40%.
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) Provisions for warranty claims be increased by ₹ 12,000.
iv) Furniture (Books Value ₹ 50,000) is to be reduced by 40%.
v) Furniture (Books Value ₹ 50,000) is to be reduced to 40%.
Anurag Pathak Changed status to publish May 21, 2023
