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If As current account is Rs 12000 credit and capital account is Rs 88000 credit what will be new capital after transferring current account into capital?

Answer and explanation

Correct answer: Rs 100000 credit

Credit current balance increases partners claim. After merging it into capital new capital will be Rs 100000 credit.

Related tags

Current Account TransferCapital BalanceCreditCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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