| X and Y are partners sharing profits equally. They admit Z for 1/3rd share in profits. Following information is available at the time of admission of Z.. | ||||||||
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| Additional information: There was a claim against the damages of Rs. 20,000 0ut of which 12,000 was accepted by the firm. | ||||||||
| Revaluation Gain/Loss will be: |
A) Gain 28,000
B) Gain 8,000
C) Loss 8,000
D) Loss 12,000
Correct Answer: D
Solution :
Loss 12,000
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