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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationHard

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Old partners A and B share profits in 3:2. Revaluation gives a profit of ₹40000. New partner C brings capital for his share. What total amount will be credited to A and B capital accounts?

Answer and explanation

Correct answer: ₹40000

The full revaluation profit goes to old partners. Total credit to A and B accounts will be ₹40000.

Related tags

Capital Credit Total Profit Old Partners Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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