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Accounting (9706) 1401/11/5

Paper 1 February/March 2016 Accounting (9706/12) A Level

CIE AS & A Level Accounting (9706) خرداد 2016
شامل مباحث: AS Level
  تعداد سوالات: 30
  سطح دشواری: متوسط
  شروع: آزاد
  پایان: آزاد
  مدت پاسخگویی: 60 دقیقه

Paper 1 February/March 2016 Accounting (9706/12) A Level
پیش نمایش صفحه اول فایل
ثبت شده در 5 بهمن 1401
  

L and M were in partnership sharing profits and losses equally. They admitted a new partner, P.

The partners do not have a partnership agreement. The terms of P’s admission were as follows:

1 Assets were revalued downwards by $\$ 60000$.

2 Goodwill was valued at $\$ 30000$ but was not retained in the books of account.

What will be the effect on L’s capital account balance on the admission of P?