In connection with the admission of Mr. Santhosh Kumar as equal partne – InterviewSolution

1.

In connection with the admission of Mr. Santhosh Kumar as equal partner, one of the existing partners of the firm Mrs. Sreema has taken over the plant and equipments worth Rs. 15000 at Rs. 18000 on the date of admission. Give a journal entry to this effect.

Answer»

Sreema's capital Dr.	18000
To plant & Equipment	15000
To Revaluation (Being p & E Take over by sreema)	3000

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