Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Q10 (Change of capitals). Q and S are in association sharing benefits and misfortunes in the proportion of 2:1. They concede T as an accomplice

Q10 (Change of capitals). Q and S are in association sharing benefits and misfortunes in the proportion of 2:1. They concede T as an accomplice for 1/fifth offer. I brings Rs. 30,000 as his portion of capital. Capital records of old accomplices were to be changed based on the extent of T's cash-flow to his portion in the business expecting that the real money was paid off or gotten by the old accomplices by and large. The capitals of Q and S staying after changes are Rs 30,000 and Rs 20,000 separately. Ascertain the sum paid or acquired by old accomplices.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Accounting questions