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Question
Treatment of the following on admission of new partner:
| (i) | General Reserves | (a) | No treatment required in partners capital accounts |
| (ii) | Advertisement suspense | (b) | Cr. in partner's capital accounts |
| (iii) | Gain on Revaluation | (c) | Dr. in partner's capital accounts |
Match the Columns
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Solution
| (i) | General Reserves | (b) | Cr. in partner's capital accounts |
| (ii) | Advertisement suspense | (c) | Dr. in partner's capital accounts |
| (iii) | Gain on Revaluation | (b) | Cr. in partner's capital accounts |
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