Partnership accounts

Why we cannot record cash and bank balance in new or revised balance sheet

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siva chaitanya

CA Foundation

★ 1K+

17-Feb-21 17:51

Answers (1)

it means -50% of amount due to L paid off in cash -balance50% due to L is treated as the capital of N (New Partner )

manasa preeshma

CA Foundation

★ 825

17-Feb-21 21:22

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