X and Y are partners in a firm who share profits and losses in 2 : 1. their capital balance are Rs. 50,000 and Rs. 30,000 respectively. If Z with consent of Y takes half of the share of X for Rs. 30,000 then Z's capital account will be credited by what amount.
A. Rs. 25,000
B. Rs. 5,000
C. Rs. 15,000
D. Rs. 20,000
Answer: Option A
Related Questions on Accounting
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A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
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Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
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