P, Q and R sharing profits in the ratio of 3:2:1. They decided to change their profit sharing ratio to 2:2:1 from 1st April 2021. On that date: | ||||||||
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Additional information: | ||||||||
Bad Debts Rs. 6,000 were to be written off and a provision of Rs.3,000 was to be made for bad and doubtful debts. | ||||||||
What will be the Revaluation Profit/Loss? |
A) Profit Rs.6,000
B) Loss Rs.6,000
C) Profit Rs.9,000
D) Loss Rs.9,000
Correct Answer: D
Solution :
Loss Rs.9,000You need to login to perform this action.
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