Admission of partner

Admission of partner

Financial statement

Analyse the transaction and identify the effect on the revalution account.

1. Two month's salary @ Rs. 6000 per month was outstanding.

Multiple Choice

Provisions for doubtful debt with be added to debtors. True or False

• True

• False

Open Ended

What will be the effect on undervaluation of stock by Rs.1000 in the Revaluation a/c ?