A and B are partners in the ratio of 2:3.Thier balance sheet shows machienery at 400000,stock at 160000 and debtors at 320000,c is admitted and new profit sharing ratio is agreed at 6:9;5. Machinery is revalued at 340000 and a provition is made for doubful debts @25%. A share in loss on revaluation amount to 20000. Revalued value of stock will be

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A and B are partners in the ratio of 2:3.Thier balance sheet shows machienery at 400000,stock at 160000 and debtors at 320000,c is admitted and new profit sharing ratio is agreed at 6:9;5. Machinery is revalued at 340000 and a provition is made for doubful debts @25%. A share in loss on revaluation amount to 20000. Revalued value of stock will be

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