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A & B shares profit and losses equally. The admit C as an equal partner and assets were revalued as follow:Stock at Rs.10,000 (book
A & B shares profit and losses equally. The admit C as an equal partner and assets were revalued as follow:Stock at Rs.10,000 (book value Rs.12, 000); Machinery at Rs. 50,000 (book value Rs.55, 000): Building would be appreciated by 10% (book value Rs. 15,000). Find the profit/loss on revaluation to be shared among A and B.
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
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