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Arrange the following steps of adjustment of capital (reconstitution of firm)...

This question belongs to Commerce Accounting
Accounting
?

Arrange the following steps of adjustment of capital (reconstitution of firm) incorrect order.
1. Calculation of total capital of new firm.
2. Finding out the surplus/deficiency in each of partner's capital account.
3. Calculation of adjusted old capitals of partners.
4. Finding out the new capitals of partners.
Select the correct answer:

Answer & Solution
Correct Answer: Option C
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