Shweta, Shreya and Shaniya were partners sharing profits in the ratio of 3:2:1. Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to Rs4,50,000. Shaniya took 25% of the furniture, accepted bill of exchange for Rs52,000. Finally Rs2,75,000 was transferred to her loan account. The total value of furniture was: (1) Rs2,58,000 (2) Rs 3,60,000 (3) Rs 3,68,000 (4) Rs 4,92,000
Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to Rs4,50,000. Shaniya took 25% of the furniture, accepted bill of exchange for Rs52,000. Finally Rs2,75,000 was transferred to her loan account. The total value of furniture was:(1) Rs2,58,000
Shweta, Shreya and Shaniya were partners sharing profits in the ratio of 3:2:1. Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to Rs4,50,000. Shaniya took 25% of the furniture, accepted bill of exchange for Rs52,000. Finally Rs2,75,000 was transferred to her loan account. The total value of furniture was:(1) Rs2,58,000(2) Rs 3,60,000(3) Rs 3,68,000(4) Rs 4,92,000 – Answer & Explanation | CUET Subject PYQ – Dubuddy