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Marwa and Asma were partners sharing profit and loss in the ratio of 3:2. They decided to admit Bushra into the partnership and revalue their

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Marwa and Asma were partners sharing profit and loss in the ratio of 3:2. They decided to admit Bushra into the partnership and revalue their assets and liabilities as indicated here under: To bring into record investment of RO. 30,000, which had not so far been recorded in the books of the firm. To depreciate stock, furniture and machinery by RO. 22,000, RO. 8,000 and RO. 30,000 respectively. To provide for workmen's compensation of R.O 30,000. You are required to choose the profit/loss on revaluation transferred to Asma capital account O a. RO 36,000 profit O b. RO 24,000 loss O c. RO 36,000 loss O d. None of the other options

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